Riskified Continues To Grow Through Vertical and Geographic Expansion
NEW YORK--(BUSINESS WIRE)--Riskified Ltd. (NYSE: RSKD) (the 'Company'), a leader in ecommerce fraud and risk intelligence, today announced financial results for the three months ended March 31, 2025. The Company will host an investor call to discuss these results today at 8:30 a.m. Eastern Time.
'I am encouraged by our start to the year, our execution on the 2025 product roadmap, and the increased pipeline generation year-to-date. We believe that our vertical and geographic diversification, strong balance sheet, and track record of executing across different environments positions us well to drive long-term growth,' said Eido Gal, Co-Founder and Chief Executive Officer of Riskified.
Q1 2025 Business Highlights
Further Vertical and Geographic Diversification with the Addition of New Merchants: We continued to have success landing new merchants on the Riskified platform, which in turn deepened our vertical and geographic reach. Our top ten new logos added during the first quarter represented wins in four verticals and all four geographies. Eight of our top ten new Chargeback Guarantee logos represented wins outside of the United States.
Landed New Account in Money Transfer & Payments Category: During the first quarter we onboarded a global digital wallet that facilitates online payments, virtual and physical debit cards, money transfers, and other types of payment and remittance activity. We continue to believe that the Money Transfer & Payments category represents an exciting area of potential expansion, as evidenced by over 90% year-over-year revenue growth rates during the first quarter.
Multi-Product Platform Expansion: Revenue growth from products outside of our core Chargeback Guarantee product increased by approximately 190% year-over-year, as our multi-product platform continued to resonate with merchants.
Share Repurchase Program Update: In the first quarter of 2025, we repurchased an aggregate of 4.1 million shares for a total price of $20.7 million including broker and transaction fees. We remain committed to repurchasing our shares at attractive valuation levels.
Launched Ascend 2025: We recently kicked off our global merchant event series, Ascend 2025, with stops in London and Shanghai. Many of the world's largest merchants, industry experts, and thought leaders gathered to explore the latest trends, innovations, and strategies in ecommerce fraud prevention and risk management. Ascend 2025 will continue its tour in various locations throughout the world including Melbourne, Brooklyn, Tokyo, and São Paulo in the coming months.
Named Most Innovative Fraud Prevention Solution: Riskified was recently named the Most Innovative Fraud Prevention Solution at the Merchant Payments Ecosystem Awards 2025. This recognition underscores our commitment to empowering merchants with our cutting-edge AI-driven fraud prevention platform.
Q1 2025 Financial Summary & Highlights
The following table summarizes our consolidated financial results for the three months ended March 31, 2025 and 2024, in thousands except where indicated:
Additional Financial Highlights
GAAP gross profit margin of 49% for the three months ended March 31, 2025 compared to 55% in the prior year. Non-GAAP gross profit margin (1) of 50% for the three months ended March 31, 2025 compared to 56% in the prior year.
GAAP net loss per share of $(0.09) for the three months ended March 31, 2025 compared to $(0.07) in the prior year. Non-GAAP diluted net profit per share (1) of $0.03 for the three months ended March 31, 2025 compared to $0.04 in the prior year.
Operating cash inflow of $3.8 million for the three months ended March 31, 2025 compared to $10.7 million in the prior year. Free cash inflow (1) of $3.6 million for the three months ended March 31, 2025 compared to $10.5 million in the prior year.
Ended March 31, 2025 with approximately $357.1 million of cash, deposits, and investments on the balance sheet and zero debt.
'We delivered another positive quarter of Adjusted EBITDA, reflecting our disciplined approach to expense management and continued focus on operational efficiency. This consistent execution has strengthened our financial foundation and we believe positions us well to generate further Adjusted EBITDA expansion and create long-term value for our shareholders,' said Aglika Dotcheva, Chief Financial Officer of Riskified.
Financial Outlook
For the year ending December 31, 2025, we continue to expect:
Revenue between $333 million and $346 million
Adjusted EBITDA (2) between $18 million and $26 million
(1) GMV is a key performance indicator. Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit margin, non-GAAP diluted net profit per share, and free cash flow are non-GAAP measures of financial performance. See 'Key Performance Indicators and Non-GAAP Measures' for additional information and 'Reconciliation of GAAP to Non-GAAP Measures' for a reconciliation to the most directly comparable GAAP measure.
(2) We refer to certain forward-looking non-GAAP financial measures in this press release and on our quarterly results conference call. We are not able to provide a reconciliation of forward-looking Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross profit margin, or non-GAAP operating expense for the fiscal year ending December 31, 2025 to net profit (loss), gross profit, and total operating expenses, respectively, because certain items that are excluded from these non-GAAP metrics but included in the most directly comparable GAAP financial measures, cannot be predicted on a forward-looking basis without unreasonable effort or are not within our control. For example, we are unable to forecast the magnitude of foreign currency transaction gains or losses which are subject to many economic and other factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and significant impact on our future GAAP financial results.
Conference Call and Webcast Details
The Company will host a conference call to discuss its financial results today, May 14, 2025 at 8:30 a.m. Eastern Time. A live webcast of the call can be accessed from Riskified's Investor Relations website at ir.riskified.com. A replay of the webcast will also be available for a limited time at ir.riskified.com. The press release with the financial results, as well as the investor presentation materials will be accessible on the Company's Investor Relations website prior to the conference call.
Key Performance Indicators and Non-GAAP Measures
This press release and the accompanying tables contain references to Gross Merchandise Volume ("GMV"), which is a key performance indicator, and to certain non-GAAP measures which include non-GAAP measures of financial performance such as Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP cost of revenue, non-GAAP operating expenses by line item, non-GAAP net profit (loss), and non-GAAP net profit (loss) per share, and a non-GAAP measure of liquidity, Free Cash Flow. Management and our Board of Directors use key performance indicators and non-GAAP measures as supplemental measures of performance and liquidity because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of items that we believe do not directly reflect our core operations. We also use Adjusted EBITDA for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives, and to evaluate our capacity to expand our business. Free Cash Flow provides useful information to management and investors about the amount of cash generated by the business that can be used for strategic opportunities, including investing in our business and strengthening our balance sheet.
These non-GAAP measures should not be construed as an inference that our future results will be unaffected by unusual or other items. Non-GAAP measures of financial performance have limitations as analytical tools in that these measures do not reflect our cash expenditures, or future requirements for capital expenditures, or contractual commitments; these measures do not reflect changes in, or cash requirements for, our working capital needs; these measures do not reflect our tax expense or the cash requirements to pay our taxes, and assets being depreciated and amortized will often have to be replaced in the future and these measures do not reflect any cash requirements for such replacements. Free Cash Flow is limited because it does not represent the residual cash flow available for discretionary expenditures. Free Cash Flow is not necessarily a measure of our ability to fund our cash needs.
In light of these limitations, management uses these non-GAAP measures to supplement, not replace, our GAAP results. The non-GAAP measures used herein are not necessarily comparable to similarly titled captions of other companies due to different calculation methods. Non-GAAP financial measures should not be considered in isolation, as an alternative to, or superior to information prepared and presented in accordance with GAAP. These measures are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. By providing these non-GAAP measures together with a reconciliation to the most comparable GAAP measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives.
We define GMV as the gross total dollar value of orders reviewed through our AI-powered ecommerce risk intelligence platform during the period indicated, including the value of orders that we did not approve. GMV is an indicator of the success of our merchants and the scale of our platform. GMV does not represent transactions successfully completed on our merchants' websites or revenue earned by us, however, our revenue is directionally correlated with the level of GMV reviewed through our platform and is an indicator of future revenue opportunities. We generate revenue based on the portion of GMV we approve multiplied by the associated risk-adjusted fee.
We define each of our non-GAAP measures of financial performance, as the respective GAAP balances shown in the below tables, adjusted for, as applicable, depreciation and amortization (including amortization of capitalized internal-use software as presented in our statement of cash flows), share-based compensation expense, payroll taxes related to share-based compensation, legal-related and other expenses, restructuring costs, provision for (benefit from) income taxes, other income (expense) including foreign currency transaction gains and losses and gains and losses on non-designated hedges, and interest income (expense). Adjusted EBITDA margin represents Adjusted EBITDA expressed as a percentage of revenue. Non-GAAP Gross Profit Margin represents Non-GAAP Gross Profit expressed as a percentage of revenue. We define non-GAAP net profit (loss) per share as non-GAAP net profit (loss) divided by non-GAAP weighted-average shares. We define non-GAAP weighted-average shares, as GAAP weighted average shares, adjusted to reflect any dilutive ordinary share equivalents resulting from non-GAAP net profit (loss), if applicable.
We define Free Cash Flow as net cash provided by (used in) operating activities, less cash purchases of property and equipment.
Management believes that by excluding certain items from the associated GAAP measure, these non-GAAP measures are useful in assessing our performance and provide meaningful supplemental information due to the following factors:
Depreciation and amortization: We exclude depreciation and amortization (including amortization of capitalized internal-use software) because we believe that these costs are not core to the performance of our business and the utilization of the underlying assets being depreciated and amortized can change without a corresponding impact on the operating performance of our business. Management believes that excluding depreciation and amortization facilitates comparability with other companies in our industry.
Share-based compensation expense: We exclude share-based compensation expense primarily because it is a non-cash expense that does not directly correlate to the current performance of our business. This is partly because the expense is calculated based on the grant date fair value of an award which may vary significantly from the current fair market value of the award based on factors outside of our control. Share-based compensation expense is principally aimed at aligning our employees' interests with those of our shareholders and at long-term retention, rather than to address operational performance for any particular period.
Payroll taxes related to share-based compensation: We exclude employer payroll tax expense related to share-based compensation in order to see the full effect that excluding that share-based compensation expense had on our operating results. These expenses are tied to the exercise or vesting of underlying equity awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of our business.
Legal-related and other expenses: We exclude certain costs incurred in connection with corporate initiatives that are non-recurring and not reflective of costs associated with our ongoing business and operating results and are viewed as unusual and infrequent.
Restructuring costs: We exclude costs associated with reductions in force because these costs are related to one-time severance and benefit payments and are not reflective of costs associated with our ongoing business and operating results and are viewed as unusual and infrequent.
See the tables below for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.
Forward Looking Statements
This press release and announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Exchange Act. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our revenue and adjusted EBITDA guidance for fiscal year 2025, our anticipated non-GAAP gross profit margin, expectations as to continued margin and Adjusted EBITDA expansion, future growth potential in new verticals, new geographies and from new-products, anticipated benefits of our share repurchase program and management of our dilution, internal modeling assumptions, expectations as to the macroeconomic environment, including the impact of tariffs on consumer spending levels, expectations as to our new merchant pipeline, market share and upsell opportunities, the impact of competition, pricing pressure and churn, the performance of our AI-powered multi-product platform, the benefits of our partnerships and collaborations with third-parties, our forecasted operating expenses and our business plans and strategy are forward looking statements, which reflect our current views with respect to future events and are not a guarantee of future performance. The words 'believe,' 'may,' 'will,' 'estimate,' 'potential,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'could,' 'would,' 'project,' 'forecasts,' 'aims,' 'plan,' 'target,' and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions.
Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to manage our growth effectively; continued use of credit cards and other payment methods that expose merchants to the risk of payment fraud, and other changes in laws and regulations, including card scheme rules, related to the use of these payment methods, and the emergence of new alternative payments products; our ability to attract new merchants and retain existing merchants and increase sales of our products to existing merchants; our history of net losses and ability to achieve profitability; the impact of macroeconomic and geopolitical conditions on us and on the performance of our merchants; the accuracy of our estimates of market opportunity and forecasts of market growth; competition; our ability to continue to improve our machine learning models; fluctuations in our CTB Ratio and gross profit margin, including as a result of large-scale merchant fraud attacks or other security incidents; our ability to protect the information of our merchants and consumers; our ability to predict future revenue due to lengthy sales cycles; seasonal fluctuations in revenue; our merchant concentration and loss of a significant merchant; the financial condition of our merchants, particularly in challenging macroeconomic environments, and the impact of pricing pressure; our ability to increase the adoption of our products, develop and introduce new products and effectively manage the impact of new product introductions on our existing product portfolio; our ability to mitigate the risks involved with selling our products to large enterprises; changes to our pricing and pricing structures; our ability to retain the services of our executive officers, and other key personnel, including our co-founders; our ability to attract and retain highly qualified personnel, including software engineers and data scientists, particularly in Israel; our ability to manage periodic realignments of our organization, including expansion or reductions in force; our exposure to existing and potential future litigation claims; our exposure to fluctuations in currency exchange rates, including recent declines in the value of the Israeli shekel against the US dollar as a result of the ongoing conflict in Israel; our ability to obtain additional capital; our reliance on third-party providers of cloud-based infrastructure; our ability to protect our intellectual property rights; technology and infrastructure interruptions or performance problems; the efficiency and accuracy of our machine learning models and access to third-party and merchant data; our ability to comply with evolving data protection, privacy and security laws; the development of regulatory frameworks for machine learning technology and artificial intelligence; our use of open-source software; our ability to enhance and maintain our brand; our ability to execute potential acquisitions, strategic investments, partnerships, or alliances; potential claims related to the violation of the intellectual property rights of third parties; our failure to comply with anti-corruption, trade compliance, and economic sanctions laws and regulations; disruption, instability and volatility in global markets and industries; our ability to enforce non-compete agreements entered into with our employees; our ability to maintain effective systems of disclosure controls and financial reporting; our ability to accurately estimate or judgements relating to our critical accounting policies; our business in China; changes in tax laws or regulations; increasing scrutiny of, and expectations for, environmental, social and governance initiatives; potential future requirements to collect sales or other taxes; potential future changes in the taxation of international business and corporate tax reform; changes in and application of insurance laws or regulations; conditions in Israel that may affect our operations; the impact of the dual class structure of our ordinary shares; risks associated with our share repurchase program, including the risk that the program could increase volatility and fail to enhance shareholder value; our status as a foreign private issuer; and other risk factors set forth in Item 3.D - 'Risk Factors' in our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, as filed with the SEC on March 6, 2025, and other documents filed with or furnished to the SEC. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
About Riskified
Riskified empowers businesses to unleash ecommerce growth by outsmarting risk. Many of the world's biggest brands and publicly traded companies selling online rely on Riskified for guaranteed protection against chargebacks, to fight fraud and policy abuse at scale, and to improve customer retention. Developed and managed by the largest team of ecommerce risk analysts, data scientists, and researchers, Riskified's AI-powered fraud and risk intelligence platform analyzes the individual behind each interaction to provide real-time decisions and robust identity-based insights. Riskified was named to CNBC's World's Top Fintech Companies in 2024. Learn more at riskified.com.
(in thousands, except share data)
As of
As of
December 31, 2024
(unaudited)
Assets
Current assets:
Cash and cash equivalents
$
286,858
$
371,063
Short-term deposits
5,000
5,000
Accounts receivable, net
32,124
47,803
Prepaid expenses and other current assets
10,312
9,830
Short-term investments
65,216
—
Total current assets
399,510
433,696
Property and equipment, net
12,210
12,704
Operating lease right-of-use assets
24,304
25,310
Deferred contract acquisition costs
16,228
16,558
Other assets, noncurrent
7,511
7,593
Total assets
$
459,763
$
495,861
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable
$
1,968
$
2,309
Accrued compensation and benefits
18,329
26,365
Guarantee obligations
8,494
13,061
Provision for chargebacks, net
9,478
9,434
Operating lease liabilities, current
5,542
5,590
Accrued expenses and other current liabilities
13,611
13,780
Total current liabilities
57,422
70,539
Operating lease liabilities, noncurrent
20,561
21,940
Other liabilities, noncurrent
22,454
21,078
Total liabilities
100,437
113,557
Shareholders' equity:
Class A ordinary shares, no par value; 900,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 111,563,431 and 112,306,279 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively
—
—
Class B ordinary shares, no par value; 232,500,000 shares authorized as of March 31, 2025 and December 31, 2024; 47,402,840 and 48,902,840 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively
—
—
Treasury shares at cost, 34,193,495 and 30,049,351 ordinary shares as of March 31, 2025 and December 31, 2024, respectively
(174,909
)
(154,223
)
Additional paid-in capital
994,882
982,131
Accumulated other comprehensive profit (loss)
(270
)
887
Accumulated deficit
(460,377
)
(446,491
)
Total shareholders' equity
359,326
382,304
Total liabilities and shareholders' equity
$
459,763
$
495,861
Expand
RISKIFIED LTD.
(in thousands, except share and per share data)
Three Months Ended March 31,
2025
2024
(unaudited)
Revenue
$
82,387
$
76,408
Cost of revenue
41,933
34,288
Gross profit
40,454
42,120
Operating expenses:
Research and development
18,077
17,772
Sales and marketing
22,782
23,214
General and administrative
16,653
17,047
Total operating expenses
57,512
58,033
Operating profit (loss)
(17,058
)
(15,913
)
Interest income (expense), net
3,725
5,741
Other income (expense), net
844
(160
)
Profit (loss) before income taxes
(12,489
)
(10,332
)
Provision for (benefit from) income taxes
1,397
1,298
Net profit (loss)
$
(13,886
)
$
(11,630
)
Other comprehensive profit (loss), net of tax:
Other comprehensive profit (loss)
(1,157
)
(203
)
Comprehensive profit (loss)
$
(15,043
)
$
(11,833
)
Net profit (loss) per share attributable to Class A and B ordinary shareholders, basic and diluted
$
(0.09
)
$
(0.07
)
Weighted-average shares used in computing net profit (loss) per share attributable to Class A and B ordinary shareholders, basic and diluted
161,601,389
177,060,316
Expand
RISKIFIED LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Three Months Ended March 31,
2025
2024
(unaudited)
Cash flows from operating activities:
Net profit (loss)
$
(13,886
)
$
(11,630
)
Adjustments to reconcile net profit (loss) to net cash provided by (used in) operating activities:
Unrealized loss (gain) on foreign currency
(1,025
)
(12
)
Provision for (benefit from) account receivable allowances
266
211
Depreciation and amortization
654
882
Amortization of capitalized internal-use software costs
302
383
Amortization of deferred contract costs
2,807
2,707
Share-based compensation expense
14,316
15,522
Non-cash right-of-use asset changes
1,006
1,130
Changes in accrued interest
(60
)
(373
)
Ordinary share warrants issued to a customer
—
383
Other
82
86
Changes in operating assets and liabilities:
Accounts receivable
15,769
12,869
Deferred contract acquisition costs
(1,895
)
(1,585
)
Prepaid expenses and other assets
(1,665
)
(894
)
Accounts payable
(299
)
(332
)
Accrued compensation and benefits
(7,846
)
(1,561
)
Guarantee obligations
(4,567
)
(3,556
)
Provision for chargebacks, net
44
(2,357
)
Operating lease liabilities
(1,117
)
(1,175
)
Accrued expenses and other liabilities
958
(37
)
Net cash provided by (used in) operating activities
3,844
10,661
Cash flows from investing activities:
Purchases of investments
(78,157
)
—
Maturities of investments
12,495
—
Purchases of property and equipment
(208
)
(178
)
Proceeds from sale of fixed assets
16
—
Net cash provided by (used in) investing activities
(65,854
)
(178
)
Cash flows from financing activities:
Proceeds from exercise of share options
632
1,030
Taxes paid related to net share settlement of equity awards
(2,256
)
—
Purchases of treasury shares
(20,686
)
(30,429
)
Net cash provided by (used in) financing activities
(22,310
)
(29,399
)
Effects of exchange rates on cash and cash equivalents
115
(388
)
Net increase (decrease) in cash and cash equivalents
(84,205
)
(19,304
)
Cash and cash equivalents—beginning of period
371,063
440,838
Cash and cash equivalents—end of period
$
286,858
$
421,534
Expand
Reconciliation of GAAP to Non-GAAP Measures
The following tables reconcile non-GAAP measures to the most directly comparable GAAP measure and are presented in thousands except for share and per share amounts.
Three Months Ended March 31,
2025
2024
(unaudited)
Net profit (loss)
$
(13,886
)
$
(11,630
)
Provision for (benefit from) income taxes
1,397
1,298
Interest (income) expense, net
(3,725
)
(5,741
)
Other (income) expense, net
(844
)
160
Depreciation and amortization
956
1,265
Share-based compensation expense
14,316
15,522
Payroll taxes related to share-based compensation
261
201
Legal-related and other expenses
236
—
Restructuring costs
2,608
1,676
Adjusted EBITDA
$
1,319
$
2,751
Net profit (loss) margin
(17
)%
(15
)%
Adjusted EBITDA Margin
2
%
4
%
Expand
Three Months Ended March 31,
2025
2024
(unaudited)
GAAP gross profit
$
40,454
$
42,120
Plus: depreciation and amortization
325
427
Plus: share-based compensation expense
192
211
Plus: payroll taxes related to share-based compensation
4
5
Plus: restructuring costs
134
139
Non-GAAP gross profit
$
41,109
$
42,902
Gross profit margin
49
%
55
%
Non-GAAP gross profit margin
50
%
56
%
Expand
Three Months Ended March 31,
2025
2024
(unaudited)
GAAP cost of revenue
$
41,933
$
34,288
Less: depreciation and amortization
325
427
Less: share-based compensation expense
192
211
Less: payroll taxes related to share-based compensation
4
5
Less: restructuring costs
134
139
Non-GAAP cost of revenue
$
41,278
$
33,506
GAAP research and development
$
18,077
$
17,772
Less: depreciation and amortization
281
387
Less: share-based compensation expense
3,415
3,422
Less: payroll taxes related to share-based compensation
1
1
Less: restructuring costs
632
555
Non-GAAP research and development
$
13,748
$
13,407
GAAP sales and marketing
$
22,782
$
23,214
Less: depreciation and amortization
180
251
Less: share-based compensation expense
4,297
4,939
Less: payroll taxes related to share-based compensation
139
106
Less: restructuring costs
1,410
529
Non-GAAP sales and marketing
$
16,756
$
17,389
GAAP general and administrative
$
16,653
$
17,047
Less: depreciation and amortization
170
200
Less: share-based compensation expense
6,412
6,950
Less: payroll taxes related to share-based compensation
117
89
Less: legal-related and other expenses
236
—
Less: restructuring costs
432
453
Non-GAAP general and administrative
$
9,286
$
9,355
Expand
Three Months Ended March 31,
2025
2024
(unaudited)
Net cash provided by (used in) operating activities
$
3,844
$
10,661
Purchases of property and equipment
(208
)
(178
)
Free Cash Flow
$
3,636
$
10,483
Expand
Three Months Ended March 31,
2025
2024
(unaudited)
Net profit (loss)
$
(13,886
)
$
(11,630
)
Depreciation and amortization
956
1,265
Share-based compensation expense
14,316
15,522
Payroll taxes related to share-based compensation
261
201
Legal-related and other expenses
236
—
Restructuring costs
2,608
1,676
Non-GAAP net profit (loss)
$
4,491
$
7,034
Weighted-average shares used in computing net profit (loss) and non-GAAP net profit (loss) per share attributable to Class A and B ordinary shareholders, basic
161,601,389
177,060,316
Weighted-average shares used in computing non-GAAP net profit (loss) per share attributable to Class A and B ordinary shareholders, diluted
167,823,008
182,510,110
Net profit (loss) per share attributable to Class A and B ordinary shareholders, basic and diluted
$
(0.09
)
$
(0.07
)
Non-GAAP net profit (loss) per share attributable to Class A and B ordinary shareholders, basic and diluted
$
0.03
$
0.04
Expand
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
an hour ago
- Business Wire
EMEREN GROUP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Emeren Group Ltd.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of Emeren Group Ltd. (NYSE: SOL) to Shurya Vitra Ltd. Under the terms of the proposed transaction, shareholders of Emeren Group will receive $0.20 in cash per ordinary share or $2.00 in cash per American Depositary Share. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
Business Wire
an hour ago
- Business Wire
COUCHBASE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Couchbase, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of Couchbase, Inc. (NasdaqGS: BASE) to Haveli Investments. Under the terms of the proposed transaction, shareholders of Couchbase will receive $24.50 in cash for each share of Couchbase that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
Business Wire
2 hours ago
- Business Wire
OrsoBio to Present Preclinical Data on Mitochondrial Protonophore Portfolio in Models of Obesity at the American Diabetes Association's 85th Scientific Sessions
MENLO PARK, Calif.--(BUSINESS WIRE)--OrsoBio, Inc. ('OrsoBio' or 'the Company'), a clinical-stage biopharmaceutical company developing treatments for obesity and obesity-associated disorders, today announced new preclinical data being presented at the 85th Scientific Sessions of the American Diabetes Association (ADA) being held June 20-23, 2025, in Chicago, Ill. The Company will present three abstracts highlighting the efficacy of its mitochondrial protonophores to induce weight loss and provide glycemic benefits while preserving lean mass in diet-induced obese (DIO) mice. The studies demonstrate the potential of TLC-6740 and TLC-1180—as monotherapy and in combination with the glucagon-like peptide-1 (GLP-1) receptor agonist semaglutide—for both the induction and maintenance of weight loss following incretin treatment. 'The mechanism of our mitochondrial protonophores to increase energy expenditure complements that of incretins to enhance and sustain weight loss and provide additive metabolic benefits,' said Mani Subramanian, MD, PhD, Chief Executive Officer of OrsoBio. 'These preclinical findings mark an important step in fulfilling our mission to develop innovative, effective, oral therapies for obesity that preserve muscle and support cardiometabolic health.' OrsoBio is advancing a pipeline of novel therapies targeting obesity through mechanistically distinct and complementary approaches. The Company's lead candidates include TLC-6740 and TLC-1180, both mitochondrial protonophores that promote weight loss by increasing energy expenditure. In addition, OrsoBio is developing TLC-3595, a selective inhibitor of acetyl-CoA carboxylase 2 (ACC2), designed to enhance fat oxidation. "GLP-1 receptor agonists have transformed obesity treatment but are limited by gastrointestinal side effects and loss of muscle mass,' said Rob Myers, MD, Chief Medical Officer of OrsoBio. 'Our preclinical data show that our mitochondrial protonophores drive sustained, fat-selective weight loss and metabolic benefits when combined with or sequenced after GLP-1 receptor agonists. These findings support our ongoing Phase 1b study of TLC-6740 in combination with tirzepatide (NCT05822544)." Poster information: Sequential Combination of the Mitochondrial Protonophore TLC-6740 With Semaglutide Normalizes Body Weight and Preserves Lean Mass in DIO Mice Abstract #1687-P Poster Session: Monday, June 23, 2025 (12:30 - 1:30 p.m. CT) This preclinical study assessed TLC-6740 alone, in combination with low-dose semaglutide (sequential combination), and as maintenance therapy following semaglutide discontinuation in DIO mice. The sequential combination of TLC-6740 with low-dose semaglutide produced superior body weight and fat mass loss, and improved glycemic parameters compared with TLC-6740 alone and high-dose semaglutide. Initiating TLC-6740 after semaglutide discontinuation maintained body weight and fat mass loss, and glycemic benefits. These findings support evaluation of TLC-6740 in combination with incretins in people living with obesity; a 24-week combination study of TLC-6740 with tirzepatide is ongoing (NCT05822544). De Novo or Sequential Combination of the Mitochondrial Protonophore TLC-1180 With Semaglutide Improves Weight Loss and Preserves Lean Mass in DIO Mice Abstract #1694-P Poster Session: Monday, June 23, 2025 (12:30 - 1:30 p.m. CT) This preclinical study evaluated the effects of TLC-1180 alone, in combination with semaglutide, and as a maintenance treatment following semaglutide discontinuation in DIO mice. As monotherapy, TLC-1180 demonstrated body weight and fat mass loss and preserved lean mass. Body weight and fat mass loss were amplified, and lean mass was preserved with TLC-1180 in combination with semaglutide. These benefits persisted when TLC-1180 was used as a maintenance treatment after semaglutide discontinuation. These data highlight the potential of TLC-1180 as monotherapy, in combination with incretins, or as maintenance therapy post incretin discontinuation in people living with obesity. Novel Combination of a Mitochondrial Protonophore and an Acetyl-CoA Carboxylase 2 (ACC2) Inhibitor Causes Weight Loss and Preserves Lean Mass in Obese Mice Abstract #1686-P Poster Session: Monday, June 23, 2025 (12:30 - 1:30 p.m. CT) This preclinical study evaluated the effects of the mitochondrial protonophore, TLC-1180, and the ACC2 inhibitor, TLC-3595—as monotherapy and in combination—and semaglutide in DIO mice. TLC-3595 dose dependently reduced body weight, fat mass, and liver biochemistry while preserving lean mass in DIO mice. A combination of TLC-3595 with TLC-1180 had similar weight loss efficacy to semaglutide, but preserved lean mass. Taken together, these data suggest that the novel, all-oral, non-incretin combination of TLC-3595 and TLC-1180 may cause similar weight loss to incretins and may afford additional advantages, including improved weight loss quality and/or tolerability (e.g., reduced incidence of gastrointestinal adverse events). About TLC-6740 TLC-6740 is a novel, oral, liver-targeted mitochondrial protonophore in development for the treatment of obesity and obesity-associated diseases, including diabetes and MASH. Based on active hepatic uptake and mitochondrial protonophore activity, TLC-6740 increases energy expenditure in hepatocytes, and is expected to have broad, systemic metabolic and cardiovascular benefits, including weight loss, improved insulin sensitivity, and as a treatment for MASH, and dyslipidemia. TLC-6740 is currently being evaluated in a Phase 1b clinical trial, as monotherapy and in combination with tirzepatide, in patients living with obesity (NCT05822544). About TLC-1180 TLC-1180 is a novel, potent, long-acting mitochondrial protonophore that has been shown to increase energy expenditure in mice with diet-induced obesity (DIO). In preclinical studies of DIO mice, TLC-1180 induced weight loss, improved glucose control, and enhanced the efficacy of GLP-1 receptor agonists, both as a single agent and in combination with incretins. TLC-1180 is currently completing IND-enabling studies and a first-in-human study is expected to initiate in 2025. About TLC-3595 TLC-3595 is a novel and selective ACC2 inhibitor designed to treat obesity and type 2 diabetes by increasing fatty acid oxidation (FAO), reducing ectopic lipid accumulation, and improving insulin sensitivity in skeletal muscle and liver. The compound may also have potential as a treatment for other conditions characterized by impaired FAO, including heart failure with preserved ejection fraction (HFpEF) and metabolic dysfunction-associated steatohepatitis (MASH). About OrsoBio, Inc. OrsoBio, Inc. is a privately held, clinical-stage biopharmaceutical company dedicated to developing therapies to treat obesity and obesity-associated disorders, including type 2 diabetes, MASH, and severe dyslipidemias. OrsoBio currently has four programs in clinical and preclinical development with first-in-class compounds that address central pathways in energy metabolism. For more information, please visit
