Riskified hikes annual revenue guidance, reports Q3 profit

Investing.com -- Riskified Ltd (NYSE:RSKD ) saw its shares soar more than 23% ahead of Wednesday’s market open after the fraud and risk prevention software firm raised its annual guidance and posted third-quarter results that exceeded analyst expectations.

For Q3, Riskified reported an adjusted earnings per share (EPS) of $0.03, outperforming the loss of $0.07 per share that analysts expected.

Revenue came in at $78.85 million, also above the consensus projection of $75.01 million.

“Our advanced Artificial Intelligence platform continues to set us apart in the market, positioning us as a global leader in ecommerce fraud and risk intelligence,” said Eido Gal, Co-Founder and CEO of Riskified.

“Our technology advantage, strong brand awareness, and differentiated platform has led to increased levels of new business activity and market share gains across key verticals,” he added.

Riskified also raised its full-year guidance, now forecasting revenue between $322 million and $327 million, up from its previous outlook of $320 million to $325 million.

Moreover, it expects adjusted EBITDA for the year to range between $14 million and $20 million, slightly higher than its prior guidance of $13 million to $19 million.

Source: Investing.com