Overall Score

Revenue Model

Riskified generates revenue from transaction-based fraud prevention services, with TTM revenue per share of 2.64 and price-to-sales of 2.73.

Gross margin remains healthy at 50.8%, supporting a software-like model despite current net losses.

Profitability

TTM operating margin is -4.6% and net margin is -4.2%, indicating the business is still not consistently profitable.

Return metrics remain negative, with ROE at -5.7% and ROIC at -6.5%, showing limited current capital efficiency.

Balance Sheet

Liquidity is solid with a current ratio of 3.62 and cash ratio of 1.36, giving the company flexibility.

Leverage is modest, with debt-to-equity at 0.11 and net debt to EBITDA deeply negative, indicating a net cash position.

Cash Flow

Free cash flow remains positive, with a TTM free cash flow yield of 4.7% and free cash flow per share of 0.34.

Cash conversion is strong, as free cash flow is 98.5% of operating cash flow and capex intensity is minimal.

Efficiency Working Capital

Asset turnover is 1.11 and receivables turnover is 8.5, suggesting reasonable operating efficiency for a transaction platform.

The cash conversion cycle is 37.7 days, reflecting moderate working-capital drag but no inventory burden.