Riskified (RSKD) Turns Q4 Profit As Losses Narrow And Test Bullish Profitability Narrative

Latest FY 2025 Earnings Snapshot

Riskified (RSKD) has wrapped up FY 2025 with Q4 revenue of US$99.3 million and basic EPS of US$0.04, while trailing twelve month figures show revenue of US$344.6 million and a basic EPS loss of US$0.18. The company reported quarterly revenue of US$93.5 million in Q4 2024 and US$99.3 million in Q4 2025, with basic EPS moving from a US$0.02 loss to a US$0.04 profit over the same period. This gives investors a clearer view of how margins are shaping up.

See our full analysis for Riskified.

With the headline numbers on the table, the next step is to see how this earnings profile aligns with the key narratives around Riskified's growth potential and path to profitability, and what that may indicate for investors following the company.

See what the community is saying about Riskified

LTM Losses Still US$27.6 Million

• On a trailing twelve month basis to Q4 2025, Riskified booked US$344.6 million in revenue and a net loss of US$27.6 million, with basic EPS at a loss of US$0.18.
• Consensus narrative points to earnings turning positive over time. However, the current LTM loss and negative EPS show that the business is still absorbing costs today rather than converting that US$344.6 million in revenue into net profit.
  • Analysts expect earnings of US$10.1 million and profit margins moving from an 11.7% loss to a 2.4% profit, while the latest LTM data still shows net income of US$27.6 million in losses.
  • Forecast revenue growth of 8.7% a year and the expectation of profitability depend on Riskified improving from this current loss making base, which is not yet visible in the trailing numbers.

Q4 Swing To US$5.8 Million Profit

• Q4 2025 net income excluding extra items came in at US$5.8 million, compared with a loss of US$4.1 million in Q4 2024 and losses of up to US$13.9 million in earlier 2025 quarters.
• Bulls argue that expanding products and AI based fraud tools can support recurring profit growth, and this single profitable quarter gives them some numerical backing. It also sits against a full year where the LTM net result is still a US$27.6 million loss.
  • Supporters highlight that earnings are forecast to grow very strongly each year and that losses have been reduced at a 22.9% annual rate over five years, using Q4’s US$5.8 million profit as an example of what improved margins could look like.
  • The tension is that, even with this profitable quarter, trailing EPS is a loss of US$0.18, so anyone leaning on the bullish view is relying more on the forward story than on a fully consistent profit track record today.

Have a look at how optimistic investors are connecting these results to the longer term profit story in the 🐂 Riskified Bull Case narrative.

P/S Around 2x With DCF Fair Value Gap

• At a share price of US$4.47, Riskified is trading at roughly 2x P/S, below peers at about 3.5x to 3.6x, and also below a DCF fair value of about US$9.23 per share.
• Bears focus on the fact that the company is still unprofitable and growing revenue at 9.1% a year versus a 10.2% market benchmark, arguing that even a lower 2x P/S and discount to DCF fair value are not enough on their own while the business relies on forecasts of 108.67% annual earnings growth to reach sustained profitability.
  • Critics point out that the LTM net loss of US$27.6 million and negative EPS mean any valuation gap to DCF fair value is based on future margin improvement rather than current cash earnings.
  • They also highlight that the average analyst price target of US$5.71 is only modestly above today’s US$4.47, which they see as more cautious than the larger gap to the US$9.23 DCF fair value figure.

Skeptical investors are weighing these valuation gaps against the ongoing losses, and you can see how the cautious case is framed in the 🐻 Riskified Bear Case narrative.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Riskified on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

If this mix of optimism and caution has you on the fence, it is worth pressing pause and reviewing the numbers yourself so you are not relying solely on the headline narratives. To see exactly which strengths the market is watching and judge whether they matter for your own plan, take a closer look at the 4 key rewards.

Explore Alternatives

Riskified is still posting a trailing twelve month net loss of US$27.6 million and negative EPS, so profitability is not yet consistently in place.

If you want ideas that already pair solid fundamentals with pricing that looks compelling against their earnings profile, take a look at our 46 high quality undervalued stocks identified by the screener today.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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