RSKD - Earnings call transcript Q2 2022

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Operator

Good day and thank you for standing by. Welcome to the Riskified Second Quarter 2022 Earnings Call. At this time, all participants are in listen-only mode. After the speaker presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. to Mandel, conference Head like speaker to now Chett today, of would hand over the your I Investor Relations.

Chett Mandel

you Riskified today’s Eido Relations. period ended Dotcheva, Thank release Riskified’s Riskified is call Riskified’s its CEO; second Co-Founder quarter Agi Chief morning, call are the press morning. for XX, for and today. Earlier its us Good this press the results My to Chett discuss Mandel, is for XXXX. XXXX. Head Gal, issued Officer. results furnished release a of Riskified has Form Investor June on A announcing earnings of X-K. hosting SEC of Financial this joining financial this name quarter been and Participating second the with copy on

begin, which assumptions, beliefs statements our related today’s remind matters you Before want performance. future goals based to outlook, current not are to on forward-looking that and and call include we and discussed I are business guarantees will of financial operating performance, on management’s

applicable obligation not statements information new You forward-looking statements. we a note except forward-looking Please reliance call, the that required any developments no this occur. result of on these and as by undue may as undertake this our that date to opinions reflect revise put of of law, as should

those differ from beyond which Forward-looking that statements materially are subject and could results to and other our control are to our various some of described risks, factors, uncertainties cause today. actual expected

number impact business results. our to addition, In significantly we and subject of risks may a that are financial

website can differ these other company’s considered could provide decision-making. Investor these presentation intended performance. when period-to-period comparisons. some to superior description SEC is these prepared performance that risk use past We financial used financial actual remind of of its call factors the in understanding be we allow the about read information GAAP. this to and that respect periodic statements. section. available encourage financial results, to as review metrics key future with about and the in results detailed evaluate we discussion our you and of also more financial We would information Riskified’s to to means The believe with replay overall during talking prospects be discuss that decision-making, for non-GAAP under as Relations accordance measures to and from a and a enhance not information a measures for the non-GAAP isolation by measures For you I like presented in filings, on the A materially our or call, operational operating substitute financial of where useful greater management a you cause and conference will operational Riskified’s and will factors, transparency to financial for of this or

ir.riskified.com. find with all today posted the issued measures comparable prior the over will to can of our our call do in those filings reconciliation X-K in the release at and Form now GAAP Gal, You a CEO. nearest on I press Riskified’s furnished on the of non-GAAP and Co-Founder is measures website which and SEC, earnings Eido to turn

Eido Gal

made further measures the that of to believe careful we will through base We have clearly and strategy, growth of clients, impact cost this we our have everyone. optimize hello, existing remained our discuss as financial and the our with I expense confident the and the to new year the of results. been support call. business the our in our started, ability pipeline and Since very Chett, our go-to-market strong is seen saving that decisions in Thanks, position traction on

Overall, can’t that was driven of which our the up from can X% in months current offer that positive strong we six we macro scale is year, base. solve success problems. business continuing having unprecedented of months for and to-date within upsells to perform portions market these these, continuing The good which merchants face at XX during ability the even it’s of and that we for revenue proposition of we with existing was Proof share quarter, help another well are this our primarily achieved to to while the any that address merchant problem grow, a is drive and we able I merchants, news and volume much a have ROI first how compelling $XX our in value to In cost conversion to having the the reviewed reviewed with that sustainable increasing year-over-year. quarterly their amounts we gross continue uplifted amount expenses. new quarter revenue of stronger and landscape, do momentum rapidly we added billion merchants to increase the in from during merchants revenue times like merchandise Riskified up past manner. seen continued same continues quarter, outcomes rates, can fulfill our with Conversations through decreasing profitable fraud-related simultaneously the continued the non-guaranteed to quarter, the capture believe the decision, economic of of that with We am generated XX% million, pleased we We platform. by our our grow our while and revenue the customer than exceptional for shift our more growth in orders have how the were first year-over-year. XX

a the total see more portfolio. merchant top we of balanced as our to percentage new to decrease concentration of With a continue reflect addition merchants, these

across verticals geographies. we and continue be well-diversified addition, to In

were separate industry geographies. In fact, new our top in three different five the quarter XX merchants areas and spread across

half overall execute ourselves goals at by We beginning we and and us across and the very priority reduce being order performance first to expense our year. profitability, buying base set to our to path expect A this ability accelerate the I’m allow macroeconomic of for to improve we additional positioning our environment recently areas to beyond consumer and help the broad-based this our throughout and and In recognize continue expense second reevaluated to half Overall, that resilient varying will to this the accomplish we diversified which base, leverage. our top of call. a in discuss efficiency different to patterns. encouraged is for on operating number continue further on

our to process, we We to away and where limit not structure. As trajectory. shareholders. deeper want our do cost overall a I’m our what key path we a profitability points will clear how hiring that, plan, investment really to are to merchants expand on value pace, will few on in for opportunities that to part while outcome. making spend, deliver expense that anticipate reevaluation excited means growth about accelerating of and with reiterate this dollars our of long-term prioritize this incremental our understanding a before for lower ability I came this our long-term Agi the progress to impact reduce and finding But financial our

leader larger advantage I general fraud despite of large overall global market Within areas market universe, is this are in we to recent clear slowdown addressable First, believe of the a the some a and have economy. largest with growing, throughout continue that which many we quality our merchants, best that our the is world’s believe and the enable relationships data operational merchants. for a superior of outcome We recognized solutions. highest to improvements and

with customer stickiness fact GMV uproot. in be can to the $XXX that to relationships Second, seen relationships XX% challenging basis through approximately these billion the incredible an an of deeply this Combine These XXXX. is are over are rate. retention track we annualized in on on integrated and review

We have ourselves in for believe we positioning created unrivaled to what industry. this be

Operations, to Kumaraswami believe the spearhead build we And profitable to of I operated opportunities identifying in through that periods profitable upon flexibility pursue leader tremendous our Agi on and believe know now our detail. cover Worldwide in focusing Third, our position, we our turn XX levers the financial years we will proven to balance further by we financial with Field of partner strong on more a pull I strategies to in Ravi and to Ravi I that back. order that who sheets company new existing I’ll fact it go-to-market Riskified the get over and am will go-forward prioritize to manner processes excited that experience believe we to Fourth, the have sales more have prior and the a than have growth. the technology financial President momentum growth. with the accelerate very and in asset finally, strategy. results

Agi Dotcheva

thank today’s for you, everyone Thank you and call. Eido, joining

As reflecting an Eido for billion, quarter second was GMV our year-over-year increase. XX% the mentioned, $XX

new quarter the geographies. further up million, growth expansion record and platform the revenue of revenue and The industries second during by was across and quarter $XX We in ourselves, also merchants primarily and achieved our across X% continued GMV year-over-year. driven of penetration

continue to industries. We broad having diversification from benefit across

During growth growth second electronics. enjoyed continue quarter, like from emerging other the categories we sustained and goods across and our benefit and across fashion to luxury ongoing categories

softness traction quarters is business, of our rebound and with an declined of individual and in a we’re second which is momentum the rates global in issues. meaningful the and geographic margin, softening business the rising fluctuate as the was and and in while once have past, of strength positive analyzed to macroeconomic easy easing year-over-year in new or some recovery a the levels to interest APEC, saw tickets area industry addition outside and quarter. the and an important continues of profiles, as that merchants particularly other continue approved is Continuing EMEA for ongoing of activity mainly expected other mix COVID margin seasonality again to seeing factors, following we’ve the market profit stay-at-home to new annual pre-pandemic the risk ramping As the in changes travel merchants, of priorities. travel, the at chain mature merchants, mentioned the in transactions category, our profit be to more gross U.S., restrictions, such us. of tickets factors, ecommerce can growing the metric with Alongside of to U.S., most billing, growth above the best the the as basis, and we standpoint, and due through gross varying during on the in due From supply we

was targets of to they of flat it’s Total quarter track to XXXX. But the were expenses of essentially important annual margin million, non-GAAP up and sequential on year-over-year. profit note basis. that for XX% gross first profit XX% XX% gross quarter meet non-GAAP XXXX on our a consistent non-GAAP we second operating Our were remain for the with $XX.X margin

merchant growing reduce second through broader new thoughtfully our efficiently that geographies. XXXX our operating we high expenses. and base, our in During use instrumental range a made ability cases and our The manage XXXX the value support quarter, of plan investments to initiated enhance were to a we help to

believe the already We’re recognizing we high the of of investments some generate ROI. it will benefits and

order match of opportunities and base in current macro the optimization. in identified our of Going additional areas cost forward, a to expense the investment level widespread key evaluation of the environment, overall we undertook to

As run in these XXXX. We process, savings hiring rate total of identified company modifying continue successfully not The the generate and nature a which least are benefit driver we of biggest for on of believe plan areas XXXX. the to was improvement, a that savings in million to our result at cost savings one-time this basis. in will public of $XX

growth. and hiring to costs strategic to beginning the associated headcount benefit expect from company. lower impact For only in will only and areas high modest to the total of increase XXXX, of slow this a of most remainder headcount the versus now XXXX the expect minimal We we

was through be reduce increase to team. including spend while of and consistent that Some excited spend these profitability. optimizing we’ll first EBITDA for previous decreased second to processes for half $XX.X of believe million our negotiation the guidance, negative the long-term growth usage, successfully intact. productivity our XXXX. are non-essential identifying loss We current areas, adjusted and Adjusted We aggressive long-term trajectory $XX.X confident in our EBITDA other million more about areas to the keeping evaluating for loss quarter from our our of so negative marketing contracts and and plans internal able and

million $XX.X million negative quarter was of year. negative and months the the six first $XX.X flow cash free second addition, the for for In

remain closely our with adjusted result. free cash outflows EBITDA Our aligned

the investments very outlook Moving which anticipate sufficient more the as million balance a guidance in towards we quarter. to zero profitability. we carry debt. sheet we will to liquidity we $XXX that our XXXX, year for of revising to maintain than of we We second introduced upward position, support turning contemplating guidance reaffirm sheet, ended quarter to and we move on that be And our we and the late with February the now cash to approximately ranges strong deposits XXXX, for we’re aim balance updated and full the are last

anticipate For USD we $XXX and we million. XXXX, year guidance remain factors previous rates $XXX levels assumes and inflation our issues, chain revenue million $XXX revenues the full broader supply will between macroeconomic stable from the of environment. e-commerce now $XXX million as the updated up such will The be current against guidance to monitor other to million and currency

$XX to million meaningfully negative improvements adjusted season. retail $XX negative us These negative expect our maintain seasonal our and be fourth guidance between quarter may this strength our to EBITDA guidance. to discussed reflect earlier and that third In expected the guidance e-commerce quarter revenue are this to terms at OpEx of travel, the uncertainty savings and year in $XX pacing, $XX and during negative of improve and $XX million revenue quarterly prior leading we gross million we least proceed broader million shopping in softness generate million and ticket to holiday the from and

annual For second million. we we a our prospects for first excited modeling EPS, expected share we’re with growth. XXX remain count pleased and long-term continuous and approximately results, weighted half average XXXX of our about quarter of Overall,

the by contributions in concludes you take the report merchant’s to time. in coming with first global tickets our trends for our our We encouraged investments. and reopening are This our forward success to question, please. we you We prepared ongoing Thank industry, continuing the quarters. and all Operator, go-to-market look remarks. travel the to progress from to the are ready the

Operator

Thank Securities. first Tillman Truist Please Terry you. [Operator proceed. And Instructions] question our of comes from

Terry Tillman

Hi. hear okay? me Good morning. you Can

Eido Gal

great. you hear can we Terry,

Terry Tillman

you just do solid coming nice some also T&T the Could also tickets travel? and here business two though existing and travel? first you customers, just whole comments was Wonderful. Hey, on that broad ones customers up in follow really on and outlook, up some the affected and and customers then your it said, in based their is, kind questions, that click kind in higher did Eido, that. of travel Nice add travel? in large And XQ, part newer was the then Agi having Chett. GMV tickets performance on question, have and I universe have of you kind across the tickets because think on second should perk and have building were more of Agi, spend XQ some double a of or online the And of somewhat I you be up? there, job tickets so And XQ but it on maybe then XQ,

Agi Dotcheva

Yeah. question. Terry, the thank you for

less. and with in we more just merchants and So mentioned, or been this additionally, And since travel of we existing in level, pre tickets have or performance the you above have second area clients year, adding half seeing last expanding many merchants. been returning it’s with pandemic strong as

a that’s later into of but QX, number we’re overall, how momentum quarters, to year just of across of these also optimistic, on. the cautiously regarding And So trends see because observing the the kind goes logos.

Terry Tillman

trend he able is, you, to to part Congrats him. going things this it’s mean, the be about to to that. But Okay. And the heard to second Ravi a when faster on wherewithal breakeven curious pace And maybe about anything have you is, I is on question, second nice on of still? and see Board. salesforce I’m add Thank line should then just profitability. be share the able what point? can to to the we see We’ve great continue the this Is

Eido Gal

Terry. Hey,

So I’ll take that.

some we’re yeah, about very definitely accelerated to that found profitability. great We excited happy So, and areas. path reevaluation in an that resulted really

and I definitely trajectory year nature more intact. the think for optimizations. of so to the headcount, progress long-term look a as processes And do throughout keeping we we’ll and We the kind could are with in optimizing systems, and we bit savings while find to just that more ongoing continue costs, have leaner, that to ways Board. those XX we’re becoming think less It’s him experience incredibly me would XXXX, can days. get guy how Ravi, tell closer on that you I an been when can talk about excited for numbers. to most the initial With him amazing impact we his that Ariba. at excited I both met thing is

over was really success to growth. the there. had most I Crownpeak functions Ariba go-to-market of he drive kind and he him And recently, he’s profitable company able of and led was think, a to CEO called there

kind think the of success days needs And he achieve these we’re had market. to align go with the we think on tools go-forward this -- in great a has strategy. I really plan, XX definitely opportunity he updated and that out the to both with first aligned So I feel we the market to and

Terry Tillman

you. Okay. Thank

Operator

moment question. you. our Thank Thank One for you. next

Our of Please proceed with next Tien-Tsin JPMorgan. from question. your question comes Huang

Tien-Tsin Huang

I was that all, credit much. we’ve consumer curious case. potentially some the this if some I’m results at tightening weaker season so shift that’s some different Thanks a a changing and and asking mean risk heard here. example, towards of might with if you’re appetite Healthy the your of credit, signals for your what because for players. earning given financials,

you’re -- how the to So that risk most I’m and just seeing performance your month recent has curious weeks? how even been,

Eido Gal

continue see as the They’ve a been guiding great the better I basis quarter And on feel chargeback. and forward. cohort results anticipated the progress. to to we improvements we for trending with than on anticipate

Tien-Tsin Huang

That’s whatnot to obviously, great. gross that, the I hear. Great. know great was Okay. and margin

maybe went areas? what’s non-negotiable -- with focus your what standpoint? are you you on deferred? hiring What in -- are curious, are being expense side What the through, investing of just reevaluation, So your narrowing I’m from an certain on the storing you areas the as

Eido Gal

Well, question. that’s a great

bit I a concrete, say, think few to new to there’s give a really right, geography a what examples it did let’s we after. going make more we’re

XX really product where financial instead both number of having the initially, So and opportunities we’re So believe same we’re side the on the the a can that we’ll we headcount. outcomes the on people side. have keeping same of we achieve finding areas right? XX, go-to-market But smaller

So change. that’s the really

Tien-Tsin Huang

you. clear. Very Thank

Operator

And Thank of our Ramsey question moment. Please Barclays. you. comes with proceed your El-Assal One question. from next

Ramsey El-Assal

with I’m I volume, and up of a wanted question travel, of so travel get much to point a much tickets morning. of get tickets room really trying to there to on in just from the a for and sense this Thanks run is, relative percentage Hi. is and follow segment, -- that travel say, really taking question terms to on at recovery what my of that I’m this trying vertical? is how to XXXX

Agi Dotcheva

Yeah. question. you the Ramsey, thank Sure. for

COVID think partly hit, expand mentioned like we we I of we just one been merchants, as our if new our -- shrinking other recovery was but part So of levels, think but that mentioned of still the of to and above. it are of driven performance and new around overall in the a in industry. and of important happened between category. just most a was growth but hand what there’s see that merchants them seeing But X%, they meaningful at since and some EMEA you continue in of I the as some variability driver a when this the And the past, to we’ve is of most on our merchants as pre-pandemic lot course, in is logos by A then. and new lot and below. on earlier, or the and think is substantial And really just separately, face, group, there cohort, were this it’s adding are somewhere also driven growth and very that the different this ones, recovery see category. a And is, at we are has I

Ramsey El-Assal

that Maybe ask follow just, I sales adding you’re environment wanted in And think response the would I pause savings, macro you. there new A, e-commerce know trying time to where causes now need that in implement couple sales whether that just was just sales update impact now just or the to a think helpful? boost the a I comments the need an on this, for on about is, is it’s Thank B, but, your to you tough. backdrop because having decisioning. little guess to I and curious, if from category. be drive Okay. I logos up the is pipeline, that me pipeline. merchants I’m is to just a cetera? bit I an opposite they mentioned the my et

Eido Gal

the very the half. the we Ramsey, feel about teams second in and go-to-market of performance excited with pipeline the really and half happy so good first the entering

I helping the and macro in sales. incremental more driving because merchants, that cost we’re messaging think current more guaranteeing savings, remember, with resonate our is environment while

see that do environment. resonating we So a in bit this better

Ramsey El-Assal

That so ton sense. much. makes a of Thanks

Operator

moment. Will next proceed. Please question Thank our comes And Goldman you. from Nance One of Sachs.

Will Nance

and appreciate Hey, should the this all the something question. quarter. forward ask I going of it just you guys. you taking the comment isn’t the expense on made review long-term you I wanted this along benefit a, Good change a growth but lines doesn’t to the think guys like, that something reduction, detail one-time Appreciate the I morning. trajectory.

of and the if can business terminal wondering get thought time? kind then the changes Just around over margins process where to it

Eido Gal

been a think in terminal don’t perspective. change opportunity any I growth the from long-term there’s margin or

Will Nance

Got it. that. Appreciate

extend follow-up distribute the I’m ask sale? business a direct beyond recent thinking about wanted with kind just ability how just after reach then question, I to with And of partnership of wondering to strategy products guys kind the distribution FIS you Okay. the about payment of competitor. processors or partner to the a were

Eido Gal

great a question. That’s Yeah.

in organizations enterprise the most me, these with enterprise outperform clients we ability direct one, the let market. them with multiple most that relationship gateways consistently right? we even and really parts, run integration they can best-of-breed two think the provides solutions we’re success because accurate right? have Number choose others to main to So see though complex and we solutions, the acquires, tend with us and So

we think attack definitely the out would and how do something go-to-market number these think, helpful two, he’s overall I kind Now It’s kind which guarantee partnerships be that continue a definitely that, tier, that’s ironing could the various we know agenda, from. Number plan. of to when strategy one. with Ravi, his it’s and of be I validation about the it’s model that something market, benefit So great on we the right? of lower chargeback in

Will Nance

Make this sense. it. Got Appreciate morning. taking the questions results and nice

Operator

our Dylan One Instructions] of moment. [Operator And next Wright Suisse. comes Credit question from

Dylan Wright

taking be guys. And Hey for please of GMV way, to the versus and Dylan last in would great? last anything versus for QX question. how us quarter in It’s travel year? in non-discretionary a stack a it what related or on you quarter? Thanks mix billings update give that and X% that follow-up Thanks. different compare tickets XXXX, was XX% in billings I percentage Tim. the believe, an QX of of versus quick Can as discretionary does a on was billings

Agi Dotcheva

Dylan question, first Maybe [ph].

to the part share, first, about also think adding we I as both through are market said, customers, the new. second I if So answer existing but expanding

sorry, growth QX very it’s first on repeat can the my second So the last also top growth -- you numbers this sequentially a I’m year. compared I head, meaningful to nice saw have the QX. to question, but don’t And can you part? I we from exact overall just believe of

Dylan Wright

Yeah. Yeah.

GMP billings? a trying discretionary with mix sense Just or versus the non-discretionary of get to

Agi Dotcheva

Yeah. Yeah.

Of course.

this trends diversified I’ll merchants, that impacting our very if and major as of one. out look we’re all So I at one call the probably not portfolio are a

of of non-discretionary, that stay-at-home is shown of This and companies, don’t in of type anything kind And fee I meaningful of trend anything a as tough from of driver stay-at-home more a he’s there’s the decline. we’re category. reports, much as if other kind said, kind and report that as of the discretionary to and some well business I terms think on well the some good merchants the a continuing services growth their of like last of some they’ve of more about year-over-year quarter. versus the the as and I to the seeing is impact prevailed and comparison public different think to trend of

Dylan Wright

helpful. That’s Thanks.

Operator

moment. Thank you. One

Please Our comes proceed. from Bracelin. next question Brent

Brent Bracelin

talk I obviously, Good the driving have could in a QX, bit given, here. morning. obviously, the and kind for that expectations no ticketing into And understand sort little segments macro Thanks perhaps, logo for double you of headwinds travel here? seeing call. impact what’s but you in section, momentum? click the ticketing new Thanks, wanted taking any about strength are and more macro question QX I to risk of travel there, there’s

Eido Gal

Hi, Brent.

that and So, up, and we’re are over a in actually, movement their streamline helped the the lot enjoying that we’ve and automate way. picking of travel we’ve as really seeing that. traction operations volumes past them a seen and year, ticket scalable space, in now very And

and more think I part. take Agi process. it’s the second let of And automating proposition on So I’ll value streamlining the the

Agi Dotcheva

It’s and still remain healthy expected Yeah. strong. to

the to momentum. So to hoping continue enjoy we’re

Brent Bracelin

you’re vertical, data any that year, the at any mass here you momentum? color that of, that’s it’s and getting on sort moat within hand there your new of all? but there kind for is And automate, ticketing the some critical that you becoming is Right. I kind last sort there momentum in to space, of Is advantage, get of logo playing within can and driving data over additional streamline and like a travel

Eido Gal

largest do success, And everyone runway also guarantee performance a the we’re one within guarantee the our We for more in plus improve GMV, especially on travel as to and we’re billion certainly able largest $XXX That’s that vendors to and point. space. great tickets a within us network, Oh! mentioned seeing more domain. puts that vendor, definitely, of but that, we’re

a moat it’s mentioned. you yes, competitive -- So like it’s

Brent Bracelin

Thanks. put some how the of Agi, that color. have getting help kind kind now and of improvement are could beyond? Maybe How Helpful you’re bridge in there? thinking thinking And cost you in place just as about model. even the then, think about us you you break you about to path of

Agi Dotcheva

a think looking current Yeah. looked of kind that a that If of we the with frame, much a into, of use, we’re very number I profitability. of which of the tools and but through all meaningful modifying some our and also areas think very starting it’s execution. and exciting I we’ve step is processes to team which company to the across some the of efficiency kind focused a of think, as step accelerates path and forward very as And

pencils, this step. continue So a our well first great areas I’ll always sharpen we is say to continue There’s progress. to

Brent Bracelin

Great you. to hear. Thank

Operator

And of have Instructions] we Robert question from the Napoli Napoli… Thank a with you. Robert William sure I’m Blair. [Operator line

Robert Napoli

So, yeah…

Operator

your line now open. is …

Robert Napoli

a rate rates, and Thank and growth XXXX Good as of target rate to trends growth does is your, XX% with your that been XX% growth morning, think, into lot discussion long-term. But disagreement long-term we new of was logos, had what previously has move XX% over Nice there’s growth e-commerce XX% XX%, I in combination I beyond? mean, mean, the that on your I just -- the rate still a there out to everyone. e-commerce any results? and thoughts Question, around you growth, growth to see you. the

Eido Gal

Hey, Bob. questions. Good Good morning.

by second happy really quarter driven of of with to the and logos upsells quarter, the existing we’re the kind similar first half the first new was clients. the most So, to game performance look, in net and our

results regulatory in to we’ve of strong The kind year. negative, we -- you of we’re anticipate growth and about organic think a the the when really growth really guided was the the seeing it that of in kind the back half impact, So right? numbers of combination better result

Robert Napoli

And e-commerce growth on rate?

Eido Gal

the to going year We than year. Yeah. still be think challenging this there’s standard more

Robert Napoli

that, expect just follow-up like to then I would to path put And profitability, to think something wanted EBITDA Is XXXX? can it general timing that on and to mean, you positive? when get the achievable just that you Okay. you by on is

Eido Gal

pull I think, a basis levers we on profitable Well, run to that know, the order and before we we’ve in business get there. to different know

and pencils kind quarters in reevaluation over with more we path. of and immediate as once that, updates we addition continue want and sharpen accelerated XXXX create happy kind do taken our We really the to think We’re guide. few we happy want about we’ve those. the the to a we’ll And to thoughtful on be better of areas next share to the to be steps

Robert Napoli

you Thank very Great. much.

Operator

no further Thank I’m showing you. questions. And

So, that, hand for over Eido closing remarks. to call I’ll the with back

Eido Gal

you in everyone. a soon Thank months. right. All few Talk

Operator

gentlemen, conference. this today’s and may and you for you now Thank participating disconnect. Ladies concludes

Riskified (RSKD) 10 Aug 222022 Q2 Earnings call transcript