Riskified Ltd. (RSKD) Cash Flow Statement
Where RSKD’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $33.9M −14.7% vs 2024
- Capital expenditures
- $810,000 0.2% of revenue
- Free cash flow
- $33.1M 9.6% margin
- Returned to shareholders
- $106.2M 321% of free cash flow
- Change in cash
- −$208.9M cash at year-end $162.2M
Drawn to scale: where the cash came from and how it was used. Hover for values.
RSKD operating cash flow, capex and free cash flow
RSKD cash flow trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $3.8M2019 | $33.9M2025 | +43.7%/yr | |
| Capital expenditures | $2.5M2019 | $810,0002025 | −17.3%/yr | |
| Free cash flow | $1.3M2019 | $33.1M2025 | +71.3%/yr | |
| Free cash flow margin | 1.0%2019 | 9.6%2025 | +8.6 pts | |
| Stock-based compensation | $11.2M2019 | $51.6M2025 | +28.9%/yr | |
| Share buybacks (net) | $02021 | $106.2M2025 | — | |
| Capex / revenue | 1.9%2019 | 0.2%2025 | −1.7 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RSKD cash flow by activity
RSKD net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
RSKD cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | −$27.6M | −$34.9M | −$59.0M | −$104.7M | −$179.4M | −$11.3M | −$14.2M |
| Depreciation & amortization | $15.6M | $4.9M | $5.1M | $4.3M | $2.4M | $1.4M | $715,000 |
| Stock-based compensation | $51.6M | $57.8M | $62.4M | $67.5M | $33.4M | $7.9M | $11.2M |
| Change in working capital | −$13.3M | −$11.0M | −$19.0M | $1.1M | −$5.3M | −$9.3M | $4.5M |
| Other non-cash items | $7.5M | $22.9M | $17.8M | $5.6M | $128.6M | $8.2M | $1.5M |
| Cash from operating activities | $33.9M | $39.7M | $7.3M | −$26.3M | −$20.3M | −$3.1M | $3.8M |
| Investing activities | |||||||
| Capital expenditures | −$810,000 | −$637,000 | −$1.4M | −$8.0M | −$13.5M | −$3.0M | −$2.5M |
| Investments (net) | −$132.1M | $27.8M | $137.5M | −$210.0M | −$70.9M | −$14.0M | −$14.0M |
| Acquisitions & other investing | $50,000 | $637,000 | $115.4M | $8.0M | $0 | $0 | $14.4M |
| Cash from investing activities | −$132.9M | $27.8M | $251.6M | −$210.0M | −$84.4M | −$17.0M | −$2.2M |
| Financing activities | |||||||
| Share repurchases & issuance (net) | −$106.2M | −$141.1M | −$13.2M | $0 | $0 | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $419.1M | $53.6M | $45.6M |
| Other financing | −$4.4M | $4.2M | $3.8M | $3.9M | $4.1M | $466,000 | $237,000 |
| Cash from financing activities | −$110.7M | −$136.8M | −$9.3M | $3.9M | $423.2M | $54.0M | $45.8M |
| Summary | |||||||
| Net change in cash | −$208.9M | −$69.8M | $249.8M | −$234.1M | $318.5M | $33.9M | $47.5M |
| Cash at end of period | $162.2M | $371.1M | $440.8M | $191.0M | $425.1M | $106.7M | $72.7M |
| Free cash flow | $33.1M | $39.1M | $5.9M | −$34.3M | −$33.8M | −$6.1M | $1.3M |
| Free cash flow margin | 9.6% | 11.9% | 2.0% | −13.1% | −14.7% | −3.6% | 1.0% |
| Capex / revenue | 0.2% | 0.2% | 0.5% | 3.1% | 5.9% | 1.7% | 1.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$9.1M | −$4.4M | $5.8M | −$7.8M | −$11.6M | −$13.9M | −$4.1M | −$9.7M | −$9.5M | −$11.6M | −$3.3M | −$20.9M |
| Depreciation & amortization | $3.7M | $3.7M | $4.0M | $862,000 | $875,000 | $956,000 | $1.2M | $1.2M | $1.3M | $1.3M | $1.3M | $1.3M |
| Stock-based compensation | $10.4M | $11.0M | $11.5M | $12.9M | $12.9M | $14.3M | $13.4M | $13.9M | $15.0M | $15.5M | $14.9M | $15.3M |
| Change in working capital | $4.6M | −$2.8M | −$12.4M | $1.0M | −$2.0M | −$618,000 | −$7.9M | $3.3M | −$7.8M | $1.4M | −$11.1M | $3.5M |
| Other non-cash items | $3.8M | $2.1M | $3.1M | $6.5M | $5.5M | $3.1M | $8.1M | $5.3M | $5.3M | $4.1M | $5.6M | $5.3M |
| Cash from operating activities | $13.3M | $9.5M | $11.9M | $13.5M | $5.6M | $3.8M | $10.7M | $14.0M | $4.3M | $10.7M | $7.4M | $4.5M |
| Investing activities | ||||||||||||
| Capital expenditures | −$203,000 | −$172,000 | −$252,632 | −$120,000 | −$252,000 | −$208,000 | −$130,000 | −$105,000 | −$224,000 | −$178,000 | −$281,000 | −$826,000 |
| Investments (net) | $17.3M | −$1.9M | −$39.6M | −$22.6M | −$4.6M | −$65.9M | $28.2M | −$22,000 | −$224,000 | −$178,000 | $9.7M | $45.1M |
| Acquisitions & other investing | −$192,000 | −$335,999 | −$3.8M | $120,000 | $252,000 | $208,000 | $130,000 | $105,000 | $224,000 | $178,000 | $281,000 | $826,000 |
| Cash from investing activities | $16.9M | −$2.4M | −$43.6M | −$22.6M | −$4.6M | −$65.9M | $28.2M | −$22,000 | −$224,000 | −$178,000 | $9.7M | $45.1M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | −$66.0M | −$27.6M | −$40.3M | −$25.3M | −$23.3M | −$20.7M | −$24.6M | −$47.0M | −$39.0M | −$30.4M | −$13.2M | $0 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $1.1M | −$1.7M | −$1.0M | −$1.8M | −$50,000 | −$1.6M | $800,000 | $316,000 | $2.1M | $1.0M | $728,000 | $333,000 |
| Cash from financing activities | −$64.9M | −$29.3M | −$41.3M | −$27.1M | −$23.3M | −$22.3M | −$23.8M | −$46.7M | −$36.9M | −$29.4M | −$12.4M | $333,000 |
| Summary | ||||||||||||
| Net change in cash | −$34.6M | −$22.3M | −$66.7M | −$36.2M | −$21.8M | −$84.2M | $14.7M | −$32.3M | −$32.8M | −$19.3M | $5.4M | $49.4M |
| Cash at end of period | $105.2M | $139.9M | $162.2M | $228.8M | $265.0M | $286.9M | $371.1M | $356.4M | $388.7M | $421.5M | $440.8M | $435.5M |
| Free cash flow | $13.1M | $9.4M | $11.7M | $13.4M | $5.3M | $3.6M | $10.6M | $13.9M | $4.1M | $10.5M | $7.1M | $3.7M |
| Free cash flow margin | 13.3% | 10.6% | 11.8% | 16.4% | 6.6% | 4.4% | 11.3% | 17.6% | 5.2% | 13.7% | 8.5% | 5.1% |
| Capex / revenue | 0.2% | 0.2% | 0.3% | 0.1% | 0.3% | 0.3% | 0.1% | 0.1% | 0.3% | 0.2% | 0.3% | 1.1% |
| Operating cash flow / net income | — | — | 2.07 | — | — | — | — | — | — | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
RSKD cash generation
In fiscal 2025 (ended December 31, 2025), Riskified generated $33.9 million of cash from operations (down 14.7%) and spent $0.8 million on capital expenditures, leaving free cash flow of $33.1 million, 9.6% of revenue. It returned $106.2 million to shareholders through dividends ($0) and net share buybacks ($106.2 million). Cash and equivalents fell by $208.9 million over the year.
Related: RSKD income statement, RSKD balance sheet. See the RSKD stock overview for the latest quote and news.
RSKD cash flow FAQ
What is Riskified's free cash flow?
Riskified's free cash flow was $33.1 million in fiscal 2025: $33.9 million of operating cash flow minus $0.8 million of capital expenditures It was $39.1 million a year earlier..
How much cash does Riskified generate from operations?
Riskified generated $33.9 million of cash from operating activities in fiscal 2025.
How much does Riskified spend on capital expenditures?
Riskified spent $0.8 million on capital expenditures in fiscal 2025, 0.2% of revenue, compared with $0.6 million the year before.
How much stock does Riskified buy back?
Riskified spent $106.2 million on net share repurchases in fiscal 2025.