Estados financieros detallados de Riskified Ltd. (RSKD): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Riskified Ltd. registró ingresos de $344.6M en el último ejercicio fiscal, con un CAGR de 5 años del 15.2%.
Márgenes de los últimos 12 meses: margen bruto 50.8%, margen operativo -4.6%, margen neto -4.2%.
Al precio actual de $6.27, RSKD presenta beneficios negativos (P/E no significativo) y un ROE del -5.70%. La capitalización bursátil es de $965M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $130.6M | $169.7M | $229.1M | $261.2M | $297.6M | $327.5M | $344.6M |
| Coste de Ventas | $64.9M | $76.9M | $106.2M | $126.1M | $145.1M | $156.6M | $168.7M |
| Beneficio Bruto | $65.7M | $92.8M | $123.0M | $135.1M | $152.5M | $170.9M | $176.0M |
| I+D | $25.0M | $36.6M | $55.3M | $72.0M | $71.6M | $68.1M | $67.4M |
| Generales y Administrativos | $54.5M | $63.0M | $123.6M | $172.4M | $157.8M | $150.7M | $137.6M |
| Gastos Operativos | $79.6M | $99.6M | $178.9M | $244.4M | $229.4M | $218.8M | $205.0M |
| Beneficio Operativo | -$13.9M | -$6.8M | -$55.9M | -$109.3M | -$76.8M | -$47.9M | -$29.1M |
| EBITDA | -$13.2M | -$5.4M | -$175.9M | -$95.1M | -$48.1M | -$23.6M | -$5.6M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$13.7M | -$10.3M | -$177.9M | -$98.7M | -$53.2M | -$28.5M | -$21.2M |
| Impuestos | $475000 | $1.1M | $1.6M | $6.0M | $5.8M | $6.4M | $6.4M |
| Beneficio Neto | -$14.2M | -$11.3M | -$179.4M | -$104.7M | -$59.0M | -$34.9M | -$27.6M |
| BPA | $-0.16 | $-0.13 | $-2.34 | $-0.62 | $-0.33 | $-0.20 | $-0.18 |
| BPA Diluido | $-0.16 | $-0.13 | $-2.34 | $-0.62 | $-0.33 | $-0.20 | $-0.18 |
| Acciones en Circulación (Diluidas) | $88.7M | $88.7M | $76.5M | $167.7M | $176.8M | $170.9M | $157.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $81.9M | $99.3M | $88.3M | $98.7M |
| Beneficio Bruto | $41.1M | $56.2M | $45.3M | $44.4M |
| Beneficio Operativo | -$9.0M | $5.3M | -$5.9M | -$7.4M |
| EBITDA | -$5.4M | $11.2M | -$202000 | -$3.7M |
| Beneficio Neto | -$7.8M | $5.8M | -$4.4M | -$9.1M |
| BPA | $-0.05 | $0.04 | $-0.03 | $-0.07 |
| BPA Diluido | $-0.05 | $0.04 | $-0.03 | $-0.07 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $72.7M | $103.6M | $418.1M | $188.7M | $440.8M | $371.1M | $162.2M |
| Inversiones a Corto | 0 | $14.0M | $85.1M | $287.0M | $34.0M | $5.0M | $135.4M |
| Cuentas por Cobrar | $25.2M | $37.2M | $35.5M | $37.5M | $46.9M | $47.8M | $48.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $100.9M | $163.5M | $565.1M | $529.9M | $532.3M | $433.7M | $355.9M |
| Inmovilizado Material | $4.1M | $4.6M | $17.0M | $53.7M | $45.4M | $38.0M | $32.2M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $758000 | $2.1M | $3.5M | $5.0M | $3.5M | 0 | 0 |
| Activos Totales | $110.1M | $180.6M | $600.6M | $607.0M | $601.9M | $495.9M | $410.6M |
| Cuentas por Pagar | $2.7M | $1.5M | $228000 | $2.1M | $2.6M | $2.3M | $1.9M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | $6.1M |
| Pasivos Corrientes | $37.3M | $51.9M | $62.4M | $72.6M | $69.8M | $70.5M | $70.7M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $45.3M | $55.2M | $71.8M | $112.5M | $110.2M | $113.6M | $115.8M |
| Reservas | -$56.3M | -$67.7M | -$246.6M | -$352.5M | -$411.6M | -$446.5M | -$474.1M |
| Patrimonio Neto | $64.8M | $125.3M | $528.9M | $494.4M | $491.7M | $382.3M | $294.8M |
| Deuda Total | 0 | 0 | 0 | $37.4M | $31.3M | $27.5M | $25.0M |
| Deuda Neta | -$72.7M | -$117.6M | -$503.3M | -$438.3M | -$443.5M | -$348.5M | -$272.6M |
| Capital Circulante | $63.6M | $111.6M | $502.7M | $457.3M | $462.5M | $363.2M | $285.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $228.8M | $162.2M | $139.9M | $105.2M |
| Activos Totales | $421.7M | $410.6M | $374.9M | $331.5M |
| Pasivos Totales | $105.4M | $115.8M | $102.7M | $122.3M |
| Patrimonio Neto | $316.3M | $294.8M | $272.2M | $209.2M |
| Deuda Total | $25.7M | $25.0M | $23.9M | $23.5M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$14.2M | -$11.3M | -$179.4M | -$104.7M | -$59.0M | -$34.9M | -$27.6M |
| Amortizaciones | $715000 | $1.4M | $2.4M | $4.3M | $5.1M | $4.9M | $3.5M |
| Compensación en Acciones | $11.2M | $7.9M | $33.4M | $67.5M | $62.4M | $57.8M | $51.6M |
| Cambio en Capital Circulante | $4.5M | -$9.3M | -$5.3M | $1.1M | -$19.0M | -$11.0M | -$13.3M |
| Flujo de Caja Operativo | $3.8M | -$3.1M | -$20.3M | -$26.3M | $7.3M | $39.7M | $33.9M |
| Inversiones (CapEx) | -$2.5M | -$3.0M | -$13.5M | -$8.0M | -$1.4M | -$637000 | -$810000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | $50000 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$13.2M | -$141.1M | -$106.2M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $1.3M | -$6.1M | -$33.8M | -$34.3M | $5.9M | $39.1M | $33.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $13.5M | $11.9M | $9.5M | $13.3M |
| Inversiones (CapEx) | -$120000 | -$252632 | -$172000 | -$203000 |
| Flujo de Caja Libre | $13.4M | $11.7M | $9.4M | $13.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $12.9M | 0 | $11.0M | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +30.0% | +35.0% | +14.0% | +13.9% | +10.0% | +5.2% |
| Crecimiento Beneficio Neto (anual) | | +20.0% | -1481.3% | +41.6% | +43.6% | +40.8% | +21.1% |
| Crecimiento BPA (anual) | | +18.8% | -1700.0% | +73.5% | +46.8% | +39.4% | +10.0% |
| Cambio en Acciones (anual) | | +0.0% | -13.8% | +119.3% | +5.4% | -3.3% | -7.9% |
| Crecimiento FCF (anual) | | -563.8% | -455.5% | -1.4% | +117.3% | +559.3% | -15.3% |
| Margen Bruto | 50.3% | 54.7% | 53.7% | 51.7% | 51.2% | 52.2% | 51.1% |
| Margen Operativo | -10.6% | -4.0% | -24.4% | -41.9% | -25.8% | -14.6% | -8.4% |
| Margen EBITDA | -10.1% | -3.2% | -76.8% | -36.4% | -16.2% | -7.2% | -1.6% |
| Margen Neto | -10.9% | -6.7% | -78.3% | -40.1% | -19.8% | -10.7% | -8.0% |
| Margen FCF | 1.0% | -3.6% | -14.7% | -13.1% | 2.0% | 11.9% | 9.6% |
| Tasa Impositiva Efectiva | -3.5% | -10.5% | -0.9% | -6.1% | -10.9% | -22.5% | -30.0% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.01 | $-0.07 | $-0.44 | $-0.20 | $0.03 | $0.23 | $0.21 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $88.7M | $88.7M | $76.5M | $167.7M | $176.8M | $170.9M | $157.5M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -5.70% |
| Rentabilidad sobre capital invertido | -6.52% |
| Rentabilidad sobre activos | -4.70% |
| Margen bruto | 50.80% |
| Margen operativo | -4.61% |
| Margen neto | -4.23% |
Salud financiera
| Deuda / Patrimonio | 0.11 |
| Ratio corriente | 3.62 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -162.50 | -200.00 | -3.36 | -7.45 | -14.18 | -23.65 | -27.61 |
| P/VC | 35.62 | 18.40 | 1.14 | 1.57 | 1.68 | 2.11 | 2.65 |
| P/V | 17.67 | 13.59 | 2.62 | 2.97 | 2.78 | 2.47 | 2.27 |
| Margen Bruto | 50.3% | 54.7% | 53.7% | 51.7% | 51.2% | 52.2% | 51.1% |
| Margen Operativo | -10.6% | -4.0% | -24.4% | -41.9% | -25.8% | -14.6% | -8.4% |
| Margen Neto | -10.9% | -6.7% | -78.3% | -40.1% | -19.8% | -10.7% | -8.0% |