Riskified (RSKD) 45th Annual William Blair Growth Stock Conference summary

Business overview and product evolution

• Provides machine learning-based fraud management for enterprise e-commerce, processing over $140B GMV in 2024 and serving 50+ public companies.

• Core offering is Chargeback Guarantee, with expansion into new products like Adaptive Checkout and Policy Protect.

• Risk-adjusted pricing enables service across high- and low-risk industries and geographies.

• Newer products, especially Policy Protect, are growing rapidly, with 190% YoY growth in Q1 and expected to reach low double-digit millions in revenue by 2025.

• Platform now includes chargeback management, account security, and policy abuse prevention, driving higher client retention and ROI.

Technology and competitive advantages

• Deep data capture across the customer journey, from browsing to support interactions, enables highly tailored fraud models.

• Autonomous training platform allows rapid deployment of custom models for large clients, improving accuracy and scalability.

• Identity graph technology clusters user activity across merchants, enhancing detection of policy abuse and fraud.

• Network effects from a large merchant base and data pool drive continuous model improvement.

• AI and machine learning remain central to innovation, with a strong data science team in Tel Aviv.

Financial performance and growth strategy

• Achieved 30% reduction in client fraud costs and 7% increase in approval rates for top clients.

• Focused on profitability post-IPO, reducing OpEx and maintaining strong cash flow, with active share buybacks.

• Diversified revenue mix: fashion/luxury now less than a third of business, with tickets/travel as the largest category.

• Expanding into non-discretionary categories and new geographies (APAC, Latin America) to drive future growth.

• Usage-based model with significant upsell potential; $350B in white space GMV identified among existing clients.