Q2 2024 Riskified Ltd Earnings Call Transcript
Key Points
- Riskified Ltd (RSKD) achieved an 8% year-over-year revenue growth in Q2 2024.
- The company reported a 13% year-over-year increase in GMV, reaching $35 billion.
- Non-GAAP gross profit margin improved to 53% in Q2 2024, up from 52% in the prior year.
- Riskified Ltd (RSKD) achieved positive adjusted EBITDA of $2.3 million in Q2 2024, marking the eighth consecutive quarter of year-over-year improvement.
- The company has a strong balance sheet with approximately $422 million in cash deposits and investments and zero debt.
- Riskified Ltd (RSKD) anticipates softer third and fourth quarters due to macroeconomic headwinds, including worsening consumer spending trends.
- The high-end fashion, tickets and travel, and home industries are expected to be particularly impacted by these macro headwinds.
- The company expects its net dollar retention rate to be slightly below 100% due to the removal of recovery trends and increased new logo revenue.
- EMEA region is projected to be relatively flat for the year, primarily due to lower travel volumes and high weighting from fashion and travel industries.
- Despite positive new business activity, the company acknowledges that some merchants may have code freezes during the holiday season, potentially delaying implementations.
Ladies and gentlemen, thank you for standing by. Welcome to Riskified's second quarter 2024 earnings call. (Operator Instructions)
Please be advised that today's conference is being recorded. I would like now to turn the conference over to Chett Mandel, Head of Investor Relations. Please go ahead.
Good morning, and thank you for joining us today. My name is Chett Mandel, Risk of Head of Investor Relations. We are hosting today's call to discuss Riskified's financial results for the second quarter of 2024.
Participating on today's call are Eido Gal, Riskified's Co-Founder and Chief Executive Officer; and Aglika Dotcheva, Riskified's Chief Financial Officer.
We released our results for the second quarter of 2024 earlier today. Our earnings materials, including a replay of today's webcast will be available on our Investor Relations website at ir.riskified.com.
Certain statements made on the call today will be forward-looking statements related to our operating performance, business
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