Red Robin's 'bottomless burgers' deal broke their website; did anyone get a pass?
Scores of carb-lovers itching for the great deal rushed to the fast-food chain's website at 11 a.m., but were met with error messages, despite hitting refresh on their browser. The company confirmed in a statement on an Instagram story that despite having planned with their website partners ahead of time, the "overwhelming excitement" caused their website to crash.
The statement noted the company was "working to get it resolved ASAP" at around 11:50 a.m., but by 12:10 p.m., a note on the Red Robin website said all burger passes had been sold.
Here's what the deal was all about, what happened and what other deals are available from the fast-food chain.
Customers who were able to purchase a $20 "Bottomless Burger" pass today that will be redeemable for one gourmet burger of choice and a bottomless side every day in May. The card is loaded with $22 per day for all 31 days — meaning the pass is worth $682.
No. The limited-time pass went on sale at 11 a.m. Eastern and was fast to sell out.
While many were eager to get a pass, and many said they had not, there were posts on social media from customers who claimed they were able to get in on the deal.
Thousands of customers flocked to the company's Facebook page in anger with claims of the deal being a "scam" and a waste of time, although several customers did show proof they were able to get the pass. It was not clear how many passes were available.
Missed out on the "Bottomless Burger" pass? Red Robin Royalty members who buy a burger and a drink during May will automatically be entered into a contest to win free burgers for a year. A total of 12 winners will be selected at random.
Red Robin has launched deals ahead of National Burger Month, which is celebrated by Americans in May.
Starting April 28, Red Robin is launching their "sizzling summer" menu:
Backyard BBQ Pork Burger: Hickory-smoked pulled pork, Whiskey River BBQ sauce, hardwood-smoked bacon, cheddar, onion straws, pickles and mayo
Backyard BBQ Pork Nachos: Red Robin's Yukon Chips hickory-smoked pulled pork, New Belgium Fat Tire Beer Cheese Bacon Fondue, Whiskey River BBQ sauce and ranch, topped with fresh jalapeño.
Peach-Berry Freckled Lemonade: Red Robin's Minute Maid Lemonade, diced peaches, peach purée and strawberries.
Spiked Peach-Berry Freckled Lemonade. Grey Goose Vodka, strawberries, diced peaches, peach purée and Minute Maid Lemonade.
Peaches & Cream Milkshake. Handspun vanilla soft serve, diced peaches and peach purée topped with whipped cream and peach gummy rings.
Lori Comstock is a New Jersey-based journalist with the Mid-Atlantic Connect Team.
This article originally appeared on NorthJersey.com: Reb Robin's unlimited burger pass deal crashes site; what happened?
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43 minutes ago
- Business Wire
Riskified Reports Second Quarter Results, Driven By New Business Wins and Robust Upsell Activity
NEW YORK--(BUSINESS WIRE)--Riskified Ltd. (NYSE: RSKD) (the 'Company'), a leader in ecommerce fraud and risk intelligence, today announced financial results for the three and six months ended June 30, 2025. The Company will host an investor call to discuss these results today at 8:30 a.m. Eastern Time. 'We delivered solid second-quarter results, driven by consistent execution and demand for our platform. As fraud becomes more complex, we have advanced our AI capabilities to strengthen our competitive edge, expand our market leadership position, and deliver exceptional value to our merchants. The new buyback authorization reflects our confidence in Riskified's long-term potential and our disciplined approach to shareholder returns,' said Eido Gal, Co-Founder and Chief Executive Officer of Riskified. Q2 2025 Business Highlights Further Vertical and Geographic Diversification with the Addition of New Merchants: We continued to have success landing new merchants on the Riskified platform, which in turn deepened our vertical and geographic reach. Our top ten new logos added during the second quarter represented wins in four verticals and all four geographies. Seven of our top ten new Chargeback Guarantee logos represented wins outside of the United States. Strengthened Leadership Position in Tickets and Live Events: In our Ticketing and Live Events sub-vertical, we successfully upsold a large merchant by taking all of their remaining volume from a competitor. We believe that our strong performance in this category is driving a network flywheel effect, which is helping us to build a powerful competitive moat and deepen our expertise in the space. Multi-Product Go-Live with New Japanese Merchant: Our top new logo won during the second quarter was with a key fashion retailer headquartered in Japan. We landed the account with multiple products upon contract signing, and we believe that our platform approach can unlock even further opportunities for growth in this region. Launched Innovative Agentic Ecommerce Solutions: We recently deployed multiple tools and solutions designed to advance fraud and abuse prevention in the evolving world of Agentic ecommerce. We believe that our deep ecommerce expertise, and unique data network will play a valuable role in setting the standard for how Agentic ecommerce can grow safely and profitably for merchants. Partnered with HUMAN Security to Power a Safe AI Shopping Agent Future: This collaboration combines HUMAN's AI agent visibility, governance, and trust capabilities with Riskified's ecommerce risk intelligence expertise in fraud prevention, chargeback protection, and policy abuse prevention. This partnership will leverage our industry-leading AI platform and expansive network insights to help secure the next era of digital commerce. Share Repurchase Program Update: We repurchased approximately 4.9 million ordinary shares for an aggregate of approximately $23.3 million, including broker and transaction fees, during the second quarter. In addition, our Board of Directors has authorized the repurchase of an additional $75 million of the Company's ordinary shares, subject to the completion of Israeli regulatory procedures. Assuming completion of the required Israeli regulatory procedures, our total aggregate repurchase authorization outstanding was approximately $85 million as of August 15th. Q2 2025 Financial Summary & Highlights The following table summarizes our consolidated financial results for the three and six months ended June 30, 2025 and 2024, in thousands except where indicated: Additional Financial Highlights GAAP gross profit margin of 49% for the three months ended June 30, 2025 compared to 52% in the prior year. Non-GAAP gross profit margin (1) of 50% for the three months ended June 30, 2025 compared to 53% in the prior year. GAAP gross profit margin of 49% for the six months ended June 30, 2025 compared to 54% in the prior year. Non-GAAP gross profit margin (1) of 50% for the six months ended June 30, 2025 compared to 54% in the prior year. GAAP net loss per share of $(0.07) for the three months ended June 30, 2025 compared to $(0.05) in the prior year. Non-GAAP diluted net profit per share (1) of $0.02 for the three months ended June 30, 2025 compared to $0.04 in the prior year. GAAP net loss per share of $(0.16) for the six months ended June 30, 2025 compared to $(0.12) in the prior year. Non-GAAP diluted net profit per share (1) of $0.05 for the six months ended June 30, 2025 compared to $0.08 in the prior year. Operating cash inflow of $5.6 million for the three months ended June 30, 2025 compared to $4.3 million in the prior year. Free cash inflow (1) of $5.3 million for the three months ended June 30, 2025 compared to $4.1 million in the prior year. Operating cash inflow of $9.4 million for the six months ended June 30, 2025 compared to $15.0 million in the prior year. Free cash inflow (1) of $9.0 million for the six months ended June 30, 2025 compared to $14.6 million in the prior year. Ended June 30, 2025 with approximately $339.1 million of cash, deposits, and investments on the balance sheet and zero debt. 'We remain focused on disciplined execution and managing what's within our control. We believe our ability to deliver positive Adjusted EBITDA and generate free cash flow reflects the strength of our operating model, and reinforces our long-term commitment to driving sustainable shareholder value,' said Aglika Dotcheva, Chief Financial Officer of Riskified. Financial Outlook For the year ending December 31, 2025, we now expect: Revenue between $336 million and $346 million For the year ending December 31, 2025, we continue to expect: Adjusted EBITDA (2) between $18 million and $26 million (1) GMV is a key performance indicator. Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit margin, non-GAAP diluted net profit per share, and free cash flow are non-GAAP measures of financial performance. See 'Key Performance Indicators and Non-GAAP Measures' for additional information and 'Reconciliation of GAAP to Non-GAAP Measures' for a reconciliation to the most directly comparable GAAP measure. (2) We refer to certain forward-looking non-GAAP financial measures in this press release and on our quarterly results conference call. We are not able to provide a reconciliation of forward-looking Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross profit margin, or non-GAAP operating expense for the fiscal year ending December 31, 2025 to net profit (loss), gross profit, and total operating expenses, respectively, because certain items that are excluded from these non-GAAP metrics but included in the most directly comparable GAAP financial measures, cannot be predicted on a forward-looking basis without unreasonable effort or are not within our control. For example, we are unable to forecast the magnitude of foreign currency transaction gains or losses which are subject to many economic and other factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and significant impact on our future GAAP financial results. Authorization to Repurchase Ordinary Shares On August 15, 2025, the Company's Board of Directors authorized the repurchase of up to $75 million of the Company's Class A ordinary shares, subject to the completion of required Israeli regulatory procedures. This authorization is in addition to the Company's existing $225 million share repurchase authorizations in the aggregate, of which approximately $215 million had been utilized as of August 15, 2025. Any share repurchases under the program may be made from time to time in the open market, including through trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in privately negotiated transactions or by other means in accordance with U.S. federal securities laws. The Company intends to fund repurchases from existing cash and cash equivalents. Following, and subject to, completion of the required Israeli regulatory procedures, the timing, as well as the number and value of any shares repurchased under the program, will be determined by the Company at its discretion under the Board authorized program and will depend on a variety of factors, including management's assessment of the intrinsic value of the Company's Class A ordinary shares, the market price of the Company's Class A ordinary shares, general market and economic conditions, available liquidity, alternative investment opportunities, and applicable legal requirements. The Company is not obligated to acquire any particular amount of Class A ordinary shares under the program, and the program may be suspended, modified or discontinued at any time without prior notice. This press release is neither an offer to purchase nor a solicitation of an offer to buy any securities. Conference Call and Webcast Details The Company will host a conference call to discuss its financial results today, August 18, 2025 at 8:30 a.m. Eastern Time. A live webcast of the call can be accessed from Riskified's Investor Relations website at A replay of the webcast will also be available for a limited time at The press release with the financial results, as well as the investor presentation materials will be accessible on the Company's Investor Relations website prior to the conference call. Key Performance Indicators and Non-GAAP Measures This press release and the accompanying tables contain references to Gross Merchandise Volume ("GMV"), which is a key performance indicator, and to certain non-GAAP measures which include non-GAAP measures of financial performance such as Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP cost of revenue, non-GAAP operating expenses by line item, non-GAAP net profit (loss), and non-GAAP net profit (loss) per share, and a non-GAAP measure of liquidity, Free Cash Flow. Management and our Board of Directors use key performance indicators and non-GAAP measures as supplemental measures of performance and liquidity because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of items that we believe do not directly reflect our core operations. We also use Adjusted EBITDA for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives, and to evaluate our capacity to expand our business. Free Cash Flow provides useful information to management and investors about the amount of cash generated by the business that can be used for strategic opportunities, including investing in our business and strengthening our balance sheet. These non-GAAP measures should not be construed as an inference that our future results will be unaffected by unusual or other items. Non-GAAP measures of financial performance have limitations as analytical tools in that these measures do not reflect our cash expenditures, or future requirements for capital expenditures, or contractual commitments; these measures do not reflect changes in, or cash requirements for, our working capital needs; these measures do not reflect our tax expense or the cash requirements to pay our taxes, and assets being depreciated and amortized will often have to be replaced in the future and these measures do not reflect any cash requirements for such replacements. Free Cash Flow is limited because it does not represent the residual cash flow available for discretionary expenditures. Free Cash Flow is not necessarily a measure of our ability to fund our cash needs. In light of these limitations, management uses these non-GAAP measures to supplement, not replace, our GAAP results. The non-GAAP measures used herein are not necessarily comparable to similarly titled captions of other companies due to different calculation methods. Non-GAAP financial measures should not be considered in isolation, as an alternative to, or superior to information prepared and presented in accordance with GAAP. These measures are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. By providing these non-GAAP measures together with a reconciliation to the most comparable GAAP measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives. We define GMV as the gross total dollar value of orders reviewed through our AI-powered ecommerce risk intelligence platform during the period indicated, including the value of orders that we did not approve. GMV is an indicator of the success of our merchants and the scale of our platform. GMV does not represent transactions successfully completed on our merchants' websites or revenue earned by us, however, our revenue is directionally correlated with the level of GMV reviewed through our platform and is an indicator of future revenue opportunities. We generate revenue based on the portion of GMV we approve multiplied by the associated risk-adjusted fee. We define each of our non-GAAP measures of financial performance, as the respective GAAP balances shown in the below tables, adjusted for, as applicable, depreciation and amortization (including amortization of capitalized internal-use software as presented in our statement of cash flows), share-based compensation expense, payroll taxes related to share-based compensation, legal-related and other expenses, restructuring costs, provision for (benefit from) income taxes, other income (expense) including foreign currency transaction gains and losses and gains and losses on non-designated hedges, and interest income (expense). Adjusted EBITDA margin represents Adjusted EBITDA expressed as a percentage of revenue. Non-GAAP Gross Profit Margin represents Non-GAAP Gross Profit expressed as a percentage of revenue. We define non-GAAP net profit (loss) per share as non-GAAP net profit (loss) divided by non-GAAP weighted-average shares. We define non-GAAP weighted-average shares, as GAAP weighted average shares, adjusted to reflect any dilutive ordinary share equivalents resulting from non-GAAP net profit (loss), if applicable. We define Free Cash Flow as net cash provided by (used in) operating activities, less cash purchases of property and equipment. Management believes that by excluding certain items from the associated GAAP measure, these non-GAAP measures are useful in assessing our performance and provide meaningful supplemental information due to the following factors: Depreciation and amortization: We exclude depreciation and amortization (including amortization of capitalized internal-use software) because we believe that these costs are not core to the performance of our business and the utilization of the underlying assets being depreciated and amortized can change without a corresponding impact on the operating performance of our business. Management believes that excluding depreciation and amortization facilitates comparability with other companies in our industry. Share-based compensation expense: We exclude share-based compensation expense primarily because it is a non-cash expense that does not directly correlate to the current performance of our business. This is partly because the expense is calculated based on the grant date fair value of an award which may vary significantly from the current fair market value of the award based on factors outside of our control. Share-based compensation expense is principally aimed at aligning our employees' interests with those of our shareholders and at long-term retention, rather than to address operational performance for any particular period. Payroll taxes related to share-based compensation: We exclude employer payroll tax expense related to share-based compensation in order to see the full effect that excluding that share-based compensation expense had on our operating results. These expenses are tied to the exercise or vesting of underlying equity awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of our business. Legal-related and other expenses: We exclude certain costs incurred in connection with corporate initiatives that are non-recurring and not reflective of costs associated with our ongoing business and operating results and are viewed as unusual and infrequent. Restructuring costs: We exclude costs associated with reductions in force because these costs are related to one-time severance and benefit payments and are not reflective of costs associated with our ongoing business and operating results and are viewed as unusual and infrequent. See the tables below for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures. Forward Looking Statements This press release and announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Exchange Act. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our revenue and Adjusted EBITDA guidance for fiscal year 2025, our anticipated non-GAAP gross profit margin, expectations as to continued margin and Adjusted EBITDA expansion, future growth potential in new verticals, new geographies and from new-products, anticipated benefits of our share repurchase program and management of our dilution, internal modeling assumptions, expectations as to the macroeconomic environment, expectations as to our new merchant pipeline and geographic reach, market share and upsell opportunities, the impact of competition, pricing pressure and churn, the advancement and performance of our AI-powered multi-product platform, the benefits of our partnerships and collaborations with third-parties, our forecasted operating expenses and our business plans and strategy are forward looking statements, which reflect our current views with respect to future events and are not a guarantee of future performance. The words 'believe,' 'may,' 'will,' 'estimate,' 'potential,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'could,' 'would,' 'project,' 'forecasts,' 'aims,' 'plan,' 'target,' and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to manage our growth effectively; continued use of credit cards and other payment methods that expose merchants to the risk of payment fraud, and other changes in laws and regulations, including card scheme rules, related to the use of these payment methods, and the emergence of new alternative payments products; our ability to attract new merchants and retain existing merchants and increase sales of our products to existing merchants; our history of net losses and ability to achieve profitability; the impact of macroeconomic and geopolitical conditions on us and on the performance of our merchants; the accuracy of our estimates of market opportunity and forecasts of market growth; competition; our ability to continue to improve our machine learning models; fluctuations in our CTB Ratio and gross profit margin, including as a result of large-scale merchant fraud attacks or other security incidents; our ability to protect the information of our merchants and consumers; our ability to predict future revenue due to lengthy sales cycles; seasonal fluctuations in revenue; our merchant concentration and loss of a significant merchant; the financial condition of our merchants, particularly in challenging macroeconomic environments, and the impact of pricing pressure; our ability to increase the adoption of our products, develop and introduce new products and effectively manage the impact of new product introductions on our existing product portfolio; our ability to mitigate the risks involved with selling our products to large enterprises; changes to our pricing and pricing structures; our ability to retain the services of our executive officers, and other key personnel, including our co-founders; our ability to attract and retain highly qualified personnel, including software engineers and data scientists, particularly in Israel; our ability to manage periodic realignments of our organization, including expansion or reductions in force; our exposure to existing and potential future litigation claims; our exposure to fluctuations in currency exchange rates, including recent declines in the value of the Israeli shekel against the US dollar as a result of the ongoing conflict in Israel; our ability to obtain additional capital; our reliance on third-party providers of cloud-based infrastructure; our ability to protect our intellectual property rights; technology and infrastructure interruptions or performance problems; the efficiency and accuracy of our machine learning models and access to third-party and merchant data; our ability to comply with evolving data protection, privacy and security laws; the development of regulatory frameworks for machine learning technology and artificial intelligence; our use of open-source software; our ability to enhance and maintain our brand; our ability to execute potential acquisitions, strategic investments, partnerships, or alliances; potential claims related to the violation of the intellectual property rights of third parties; our failure to comply with anti-corruption, trade compliance, and economic sanctions laws and regulations; disruption, instability and volatility in global markets and industries; our ability to enforce non-compete agreements entered into with our employees; our ability to maintain effective systems of disclosure controls and financial reporting; our ability to accurately estimate or judgements relating to our critical accounting policies; our business in China; changes in tax laws or regulations; increasing scrutiny of, and expectations for, environmental, social and governance initiatives; potential future requirements to collect sales or other taxes; potential future changes in the taxation of international business and corporate tax reform; changes in and application of insurance laws or regulations; conditions in Israel that may affect our operations; the impact of the dual class structure of our ordinary shares; risks associated with our share repurchase program, including the risk that the program could increase volatility and fail to enhance shareholder value; our status as a foreign private issuer; and other risk factors set forth in Item 3.D - 'Risk Factors' in our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, as filed with the SEC on March 6, 2025, and other documents filed with or furnished to the SEC. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. About Riskified Riskified (NYSE:RSKD) empowers businesses to unleash ecommerce growth by outsmarting risk. Many of the world's biggest brands and publicly traded companies selling online rely on Riskified for guaranteed protection against chargebacks, to fight fraud and policy abuse at scale, and to improve customer retention. Developed and managed by the largest team of ecommerce risk analysts, data scientists, and researchers, Riskified's AI-powered fraud and risk intelligence platform analyzes the individual behind each interaction to provide real-time decisions and robust identity-based insights. Learn more at RISKIFIED LTD. (in thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Revenue $ 81,060 $ 78,730 $ 163,447 $ 155,138 Cost of revenue 41,310 37,728 83,243 72,016 Gross profit 39,750 41,002 80,204 83,122 Operating expenses: Research and development 17,167 17,079 35,244 34,851 Sales and marketing 21,452 22,468 44,234 45,682 General and administrative 14,137 15,650 30,790 32,697 Total operating expenses 52,756 55,197 110,268 113,230 Operating profit (loss) (13,006 ) (14,195 ) (30,064 ) (30,108 ) Interest income (expense), net 3,569 5,398 7,294 11,139 Other income (expense), net (471 ) 337 373 177 Profit (loss) before income taxes (9,908 ) (8,460 ) (22,397 ) (18,792 ) Provision for (benefit from) income taxes 1,725 1,049 3,122 2,347 Net profit (loss) $ (11,633 ) $ (9,509 ) $ (25,519 ) $ (21,139 ) Other comprehensive profit (loss), net of tax: Other comprehensive profit (loss) 1,247 (169 ) 90 (372 ) Comprehensive profit (loss) $ (10,386 ) $ (9,678 ) $ (25,429 ) $ (21,511 ) Net profit (loss) per share attributable to Class A and B ordinary shareholders, basic and diluted $ (0.07 ) $ (0.05 ) $ (0.16 ) $ (0.12 ) Weighted-average shares used in computing net profit (loss) per share attributable to Class A and B ordinary shareholders, basic and diluted 159,112,218 173,687,773 160,349,927 175,374,045 Expand RISKIFIED LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Cash flows from operating activities: Net profit (loss) $ (11,633 ) $ (9,509 ) $ (25,519 ) $ (21,139 ) Adjustments to reconcile net profit (loss) to net cash provided by (used in) operating activities: Unrealized loss (gain) on foreign currency 1,741 (431 ) 716 (443 ) Provision for (benefit from) account receivable allowances 29 154 295 365 Depreciation and amortization 614 872 1,268 1,754 Amortization of capitalized internal-use software costs 261 383 563 766 Amortization of deferred contract costs 3,291 2,641 6,098 5,348 Share-based compensation expense 12,859 15,035 27,175 30,557 Non-cash right-of-use asset changes 1,019 1,204 2,025 2,334 Changes in accrued interest (597 ) 1,317 (657 ) 944 Ordinary share warrants issued to a customer — 384 — 767 Other 31 51 113 137 Changes in operating assets and liabilities: Accounts receivable (1,244 ) (6,561 ) 14,525 6,308 Deferred contract acquisition costs (2,217 ) (1,547 ) (4,112 ) (3,132 ) Prepaid expenses and other assets (1,809 ) (427 ) (3,474 ) (1,321 ) Accounts payable (562 ) (386 ) (861 ) (718 ) Accrued compensation and benefits 2,761 (2,584 ) (5,085 ) (4,145 ) Guarantee obligations (16 ) 677 (4,583 ) (2,879 ) Provision for chargebacks, net (1,635 ) 1,330 (1,591 ) (1,027 ) Operating lease liabilities (1,121 ) (1,029 ) (2,238 ) (2,204 ) Accrued expenses and other liabilities 3,820 2,758 4,778 2,721 Net cash provided by (used in) operating activities 5,592 4,332 9,436 14,993 Cash flows from investing activities: Purchases of investments (13,858 ) — (92,015 ) — Maturities of investments 9,477 — 21,972 — Purchases of property and equipment (252 ) (224 ) (460 ) (402 ) Proceeds from sale of fixed assets 12 — 28 — Net cash provided by (used in) investing activities (4,621 ) (224 ) (70,475 ) (402 ) Cash flows from financing activities: Proceeds from exercise of share options 2,220 2,098 2,852 3,128 Taxes paid related to net share settlement of equity awards (2,270 ) — (4,526 ) — Purchases of treasury shares (23,265 ) (39,000 ) (43,951 ) (69,429 ) Net cash provided by (used in) financing activities (23,315 ) (36,902 ) (45,625 ) (66,301 ) Effects of exchange rates on cash and cash equivalents 518 (46 ) 633 (434 ) Net increase (decrease) in cash and cash equivalents (21,826 ) (32,840 ) (106,031 ) (52,144 ) Cash and cash equivalents—beginning of period 286,858 421,534 371,063 440,838 Cash and cash equivalents—end of period $ 265,032 $ 388,694 $ 265,032 $ 388,694 Expand Reconciliation of GAAP to Non-GAAP Measures The following tables reconcile non-GAAP measures to the most directly comparable GAAP measure and are presented in thousands except for share and per share amounts. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (unaudited) (unaudited) GAAP gross profit $ 39,750 $ 41,002 $ 80,204 $ 83,122 Plus: depreciation and amortization 283 423 608 850 Plus: share-based compensation expense 179 200 371 411 Plus: payroll taxes related to share-based compensation 6 6 10 11 Plus: restructuring costs 129 17 263 156 Non-GAAP gross profit $ 40,347 $ 41,648 $ 81,456 $ 84,550 Gross profit margin 49 % 52 % 49 % 54 % Non-GAAP gross profit margin 50 % 53 % 50 % 54 % Expand Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (unaudited) (unaudited) GAAP cost of revenue $ 41,310 $ 37,728 $ 83,243 $ 72,016 Less: depreciation and amortization 283 423 608 850 Less: share-based compensation expense 179 200 371 411 Less: payroll taxes related to share-based compensation 6 6 10 11 Less: restructuring costs 129 17 263 156 Non-GAAP cost of revenue $ 40,713 $ 37,082 $ 81,991 $ 70,588 GAAP research and development $ 17,167 $ 17,079 $ 35,244 $ 34,851 Less: depreciation and amortization 267 386 548 773 Less: share-based compensation expense 3,176 3,403 6,591 6,825 Less: payroll taxes related to share-based compensation 2 2 3 3 Less: restructuring costs 232 — 864 555 Non-GAAP research and development $ 13,490 $ 13,288 $ 27,238 $ 26,695 GAAP sales and marketing $ 21,452 $ 22,468 $ 44,234 $ 45,682 Less: depreciation and amortization 192 248 372 499 Less: share-based compensation expense 4,017 5,001 8,314 9,940 Less: payroll taxes related to share-based compensation 84 93 223 199 Less: restructuring costs 645 34 2,055 563 Non-GAAP sales and marketing $ 16,514 $ 17,092 $ 33,270 $ 34,481 GAAP general and administrative $ 14,137 $ 15,650 $ 30,790 $ 32,697 Less: depreciation and amortization 133 198 303 398 Less: share-based compensation expense 5,487 6,431 11,899 13,381 Less: payroll taxes related to share-based compensation 46 49 163 138 Less: legal-related and other expenses — 1 236 1 Less: restructuring costs 262 43 694 496 Non-GAAP general and administrative $ 8,209 $ 8,928 $ 17,495 $ 18,283 Expand Three Months Ended June 30, Six Months Ended June 30, (unaudited) (unaudited) Net cash provided by (used in) operating activities $ 5,592 $ 4,332 $ 9,436 $ 14,993 Purchases of property and equipment (252 ) (224 ) (460 ) (402 ) Free Cash Flow $ 5,340 $ 4,108 $ 8,976 $ 14,591 Expand Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Net profit (loss) $ (11,633 ) $ (9,509 ) $ (25,519 ) $ (21,139 ) Depreciation and amortization 875 1,255 1,831 2,520 Share-based compensation expense 12,859 15,035 27,175 30,557 Payroll taxes related to share-based compensation 138 150 399 351 Legal-related and other expenses — 1 236 1 Restructuring costs 1,268 94 3,876 1,770 Non-GAAP net profit (loss) $ 3,507 $ 7,026 $ 7,998 $ 14,060 Weighted-average shares used in computing net profit (loss) and non-GAAP net profit (loss) per share attributable to Class A and B ordinary shareholders, basic 159,112,218 173,687,773 160,349,927 175,374,045 Add: Dilutive Class A and B ordinary share equivalents 5,286,735 8,878,042 5,754,177 7,163,918 Weighted-average shares used in computing non-GAAP net profit (loss) per share attributable to Class A and B ordinary shareholders, diluted 164,398,953 182,565,815 166,104,104 182,537,963 Net profit (loss) per share attributable to Class A and B ordinary shareholders, basic and diluted $ (0.07 ) $ (0.05 ) $ (0.16 ) $ (0.12 ) Non-GAAP net profit (loss) per share attributable to Class A and B ordinary shareholders, basic and diluted $ 0.02 $ 0.04 $ 0.05 $ 0.08 Expand
USA Today
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- USA Today
Europe flies to Washington
Get Monday started!🙋🏼♀️ I'm Nicole Fallert. Is it possible to actually delete your ChatGPT history? European leaders are headed to the White House European leaders will join Volodymyr Zelenskyy in Washington, D.C., this week as he meets with President Trump at the White House, rallying around Ukraine's wartime president after Trump appeared to embrace a peace stance held by Vladimir Putin. Does the US really have a crime crisis? President Trump's crackdown on crime in Washington, D.C., continues a decades-long American story: Data says crime is going down, even as many Americans feel like it's spiraling out-of-control. Safety is a real concern for many. FBI data has shown the nation's crime rate declined over the past three decades, but over half of Americans have said they believe there is more crime than the year before in nearly every Gallup survey conducted since 1993. More news to know now What's the weather today? Check your local forecast here. California almond orchards under siege from rats ~ Roger Isom, president and CEO of the Western Tree Nut Association, which represents growers and processors. He spoke to USA TODAY about an unprecedented phenomenon: A massive assault by rats on California's $4.7 billion almond industry. The sudden invasion starting last fall took growers by surprise, and they're still scrambling to figure out how to repel the intruders. A $101,000 knee replacement? Want a total knee replacement? It can cost as little as $12,870 or as much $101,527. People are usually savvy enough to check whether their hospital or doctor takes their insurance. But it's often a mystery how much a medical procedure or operation will cost, even with coverage, and wide price swings leave insured consumers with big bills, loans and medical debt. USA TODAY analyzed a new report that found prices can vary as much as nine-fold for the same operation or procedure. And hospital prices within the same state varied more than three-fold. But would better price transparency spur competition or lower prices? Today's talkers Michigan handed sign-stealing punishment Nearly two full years after news broke of an investigation into alleged in-person scouting and sign-stealing from the Michigan football program, the Wolverines have been handed repercussions. The NCAA fined Michigan $50,000 fine plus 10% of the football program's budget. The Wolverines are on four year probation while head coach Sherrone Moore faces a two-year show cause order and is suspended from the first game of the 2026 season. Michigan has since said it will appeal the NCAA's ruling. And Los Angeles Chargers head coach Jim Harbaugh didn't have much to say. Photo of the day: Israelis speak against war Thousands of Israelis took part in a nationwide strike and demonstrations Sunday in support of families of hostages held in Gaza, calling on Prime Minister Benjamin Netanyahu to reach an agreement with Hamas to end the war in Gaza. Nicole Fallert is a newsletter writer at USA TODAY, sign up for the email here. Want to send Nicole a note? Shoot her an email at NFallert@
CBS News
44 minutes ago
- CBS News
Your "buy now, pay later" purchases likely won't factor into your credit scores for now
More Americans than ever are using "buy now, pay later" programs to purchase everything from clothes to couches and even takeout, but now some of the biggest providers are pushing back on plans to include it in your credit score. The short-term loans from providers like Affirm, Klarna and Afterpay split payments into smaller installments. But these loans have largely remained out of credit scores, which lenders use to determine a borrower's creditworthiness. The three big U.S. credit bureaus — Experian, Equifax and TransUnion — announced earlier this year they would start including "buy now, pay later" loans in the calculation of credit scoring. But for now Affirm is the only major BNPL provider currently reporting that data to the credit bureaus. Officials with both Klarna and AfterPay are pumping the brakes over uncertainty about whether it will help or hurt consumers' scores, even if they're making on-time payments. "There have been some challenges in integrating 'buy now, pay later' loans into the traditional credit reporting framework," Consumer Reports financial policy advocate Chuck Bell said. "And the reason is that these are often very short-term loans with a payback period of six weeks, and that creates some problems, because when you open multiple accounts in a relatively short period, typically your credit score goes down." Afterpay and Klarna both say they will continue to hold off on supplying customer data to credit bureaus until score calculations are changed. A spokesperson for Klarna told CBS News Philadelphia, "The U.S. credit reporting framework doesn't reflect how short-term BNPL products are used. We look forward to a system where these products can contribute positively to consumers' credit standing." It comes as these types of loans are exploding in popularity, and many consumer advocates warn against taking on too many at once, especially for smaller purchases like groceries or takeout. A new Bankrate survey reveals nearly half of "buy now, pay later" users say they have experienced at least one financial problem with these services. The most common: overspending (24%), missing a payment (16%), and difficulties with returns or refunds (14%). Bell said many consumers are using "buy now, pay later" lending as credit cards, but he warns they don't carry the same protections, including your right to dispute a charge. That's something Bell said you should keep in mind if you use these services. Do you have a money question, a consumer issue, or a scam story you want to share? Click here to fill out a form.
