Riskified Ltd. reported second-quarter 2026 revenue of $98,691 thousand, beating the analyst consensus estimate of $89,203 thousand by 10.64 percent. The ecommerce fraud and risk intelligence provider also posted adjusted earnings per share of $0.02, which met the consensus estimate and remained unchanged from the prior year period. The strong top-line performance, driven by new merchant acquisition and upsell activity across all four regions, prompted the company to raise its full-year 2026 outlook for the second time this year.

Financial Performance vs Estimates

The company’s quarterly sales of $98,691 thousand represented a 21.75 percent increase from $81,060 thousand in the same period of 2025. This acceleration marks a significant improvement from the 7 percent growth recorded in the first quarter of 2026. While the adjusted EPS of $0.02 was inline with expectations, the revenue beat highlights robust demand for Riskified’s platform.

Operational Highlights

Riskified’s gross merchandise volume (GMV) grew 13 percent year-over-year to $41,300 million in Q2 2026. The company maintained competitive win rates above 75 percent and saw a 19-fold increase in the dollar value of ACH transactions processed compared to the prior year quarter. New logo acquisition was a key driver, with five of the top ten new logos headquartered outside the United States.

Cash generation remained strong, with free cash flow reaching $12.9 million for the quarter, up from $5.3 million in the prior year period. The company ended the quarter with approximately $223.6 million in cash, deposits, and investments and zero debt.

Revised Full-Year Outlook

Reflecting the stronger-than-expected second-quarter results, Riskified raised its full-year 2026 guidance. The updated revenue range is now $400 million to $410 million, with a midpoint of $405 million, up from the previous range of $376 million to $384 million. Adjusted EBITDA guidance was also increased to a range of $33 million to $39 million, with a midpoint of $36 million.

CFO Aglika Dotcheva noted that the primary factors influencing results within these ranges include the timing of new merchant go-lives, existing merchant upsells, retention rates, and the broader macroeconomic environment.

Riskified (NYSE: RSKD) and Marqeta (NASDAQ: MQ) have announced a partnership to integrate Riskified’s pre-authorization risk intelligence directly into Marqeta’s modern card issuing platform. The integration enables card issuers on Marqeta’s network to access enriched risk data before authorization decisions are made, aiming to approve more legitimate ecommerce transactions and significantly reduce false declines. This development addresses a critical inefficiency in digital payments, where limited visibility into merchant-consumer relationships often leads issuers to decline valid orders alongside fraudulent ones.

False declines represent one of the most costly yet least visible challenges in ecommerce. According to 2023 research by PYMNTS Intelligence and Nuvei, false declines put an estimated $157 billion in U.S. ecommerce sales at risk, with $81 billion ultimately lost even after consumers attempted to complete purchases through subsequent payment methods. By providing issuers with additional context on an order before it reaches the authorization stage, the partnership seeks to distinguish trustworthy customers from fraudulent activity with greater precision than transaction data alone allows.

Through the integration, Riskified will feed insights from its global network of merchant transaction data into Marqeta’s Real-Time Decisioning offering. This enhances Marqeta’s AI-powered predictive risk score with richer merchant data, allowing issuers to make sharper authorization decisions without adding fraud risk. The collaboration builds on Marqeta’s existing infrastructure, which processed nearly $400 billion in annual payments volume in 2025 and operates in more than 40 countries worldwide.

Jeff Otto, Chief Marketing Officer at Riskified, stated that pairing Marqeta’s flexible, API-first platform with Riskified’s global risk intelligence means issuers no longer have to choose between approving good customers and managing risk effectively. Anthony Peculic, Interim Chief Product Officer at Marqeta, added that layering Riskified’s pre-authorization intelligence into their toolkit has been demonstrated to increase authorization rates, cut false declines, and reduce chargebacks.

Performance Benchmarks

Riskified’s issuer partnerships have previously demonstrated measurable impact on authorization metrics. In a 30-day period, a top-tier U.S. card issuer leveraging Riskified’s data saw significant improvements across multiple merchant verticals. Additionally, athletic apparel retailer Lorna Jane reported substantial gains after implementing Riskified’s pre-authorization decisioning.

What the Numbers Show

The performance data from prior integrations highlights a divergence between authorization gains and fraud control. While authorization rates increased by modest single-digit percentages (1.4% to 5.9%) for the U.S. card issuer, the reduction in false declines was substantially higher at 25%. Similarly, Lorna Jane’s authorization rate jumped by 13 percentage points (from 82% to 95%) alongside a chargeback reduction of more than 90%. This suggests that pre-authorization intelligence primarily recovers lost revenue from legitimate customers who were previously incorrectly flagged, rather than merely shifting risk exposure. For Marqeta’s issuers, this implies the potential to unlock significant trapped revenue from the $81 billion currently lost to failed payment attempts, without proportionally increasing fraud liability.