Key Highlights

  • Revenue grew 41% year over year to $115.2 million in the third quarter of 2026, accelerating from 22% growth in the second quarter.
  • Adjusted EBITDA rose 47% to $8.1 million, and free Cash Flow reached $15.2 million.
  • The company has no Debt and held $235 million in cash, deposits and investments.
  • Adjusted EBITDA guidance for 2026 was raised to a range of $39 million to $43 million, the third increase this year.

Riskified Ltd. (NYSE:RSKD) reported results for the three and nine months ended September 30, 2026, on November 11, 2026, showing Revenue growth of 41% and an acceleration from the 22% growth recorded in the second quarter. The company provides Fraud and risk intelligence for ecommerce merchants, and it said more of those merchants are turning to its platform as fraud becomes more sophisticated. The company also held an investor call the same morning.

Chief Executive Officer Eido Gal said the company has raised its outlook for the third time this year, a sign that the Business is performing ahead of earlier expectations.

Revenue Acceleration and Drivers

Revenue rose to $115.2 million, an increase that the company said accelerated from 22% in the second quarter. Gal attributed the growth to merchants facing faster and more sophisticated fraud, along with rising adoption of additional products on the platform. He also pointed to the complexity that agentic commerce introduces to online checkout.

Acceleration of this kind can be difficult to sustain as a business grows larger, so the rate of growth in future quarters will be a key test. The company will need to show that new products and enterprise wins keep pace as the base of customers expands.

Agentic commerce, in which automated agents conduct purchases on behalf of consumers, could change how fraud is detected at checkout. The company has positioned its platform to handle that shift, though the scale of the opportunity will become clearer as the technology spreads.

Profitability and Cash Generation

Adjusted EBITDA increased 47% to $8.1 million, and the company generated free cash flow of $15.2 million, which it described as a record. Chief Financial Officer Aglika Dotcheva said the company is continuing to drive operating leverage, meaning its costs are growing more slowly than revenue.

The company had $235 million in cash, deposits and investments and no debt at the end of the period. That Balance Sheet gives it flexibility to invest in growth and to deploy Capital opportunistically, although management will need to decide how to balance those uses over time.

Customer concentration and pricing are other areas to watch. Revenue growth driven by larger merchants can be lumpy, and the company will need to show that its product mix keeps producing steady additions across merchants of different sizes.

Raised Guidance and Open Questions

Riskified now anticipates adjusted EBITDA of between $39 million and $43 million for 2026, or $41 million at the midpoint. The range was raised from $33 million to $39 million, and the company has now lifted its outlook three times this year.

Raised guidance is encouraging, but it also raises expectations for the final quarter. Competition in fraud prevention is intense, and merchant budgets can change quickly. Investors will watch whether the pace of revenue growth holds and whether margins continue to expand as the company invests in its platform.

Final Word

Riskified reported accelerating revenue growth, higher profit and free cash flow, and a third upward revision to its 2026 adjusted EBITDA outlook. The company has no debt and a sizeable cash position. Its next updates will show whether the revenue pace holds as the business grows and whether the expanded outlook is met.