Riskified (RSKD) Q1 2026 earnings summary

Executive summary

• Achieved strong Q1 2026 results with 7% revenue growth to $88.3 million, driven by disciplined pipeline conversion, new merchant wins, and upsell activity.

• Non-GAAP gross profit rose 13% to $46.3 million, with adjusted EBITDA up 370% to $6.2 million (7% margin), and GAAP net loss improved to $4.4 million from $13.9 million.

• Expanded addressable market through ACH and alternative payment methods, new product launches including ARIA (AI risk intelligence analyst), and partnerships with Radial, Outpayce, and Rue Gilt Groupe.

• Multi-product adoption increased 50% year-over-year, now accounting for over 30% of revenue, with significant adoption outside the US and across multiple verticals.

• Repurchased 6.2 million shares for $27.5 million in Q1 2026, reducing shares outstanding by 3%.

Financial highlights

• Q1 2026 revenue: $88.3 million, up 7% year-over-year; GMV: $37.2 billion, up 9%.

• Non-GAAP gross profit: $46.3 million, up 13% year-over-year; GAAP gross profit: $45.9 million; gross profit margin improved to 52%.

• Adjusted EBITDA: $6.2 million (7% margin), up 370% year-over-year; net loss narrowed to $4.4 million.

• Free cash flow of $9 million in Q1; $276 million in cash, deposits, and investments; zero debt.

• Repurchased 6.2 million shares in Q1, with total buybacks since Q4 2023 reaching 58.2 million shares for $287 million.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $376–384 million (midpoint $380 million).

• Adjusted EBITDA guidance increased to $28–34 million (midpoint $31 million), up from prior $26–34 million.

• Gross profit growth expected between 8–12% for the full year, with quarterly growth around 10%.

• Free cash flow for 2026 expected to be approximately $40 million.

• Guidance reflects Q1 outperformance and ongoing business momentum.