Fiverr Posts Q3 Earnings Above Street View

  • Fiverr International Ltd FVRR reported third-quarter FY22 sales growth of 11% year-on-year to $82.54 million, beating the consensus of $81.13 million.
  • Active buyers increased 3% Y/Y to 4.2 million, Spend per buyer rose 12% Y/Y to $262. Take rate expanded by 160 bps to 30%.
  • Non-GAAP gross margin contracted 160 bps to 82.8%, while the adjusted EBITDA margin expanded 250 bps sequentially to 7.9%.
  • Non-GAAP EPS of $0.21 beat the consensus of $0.14.
  • Fiverr generated $5.7 million in operating cash flow and held $152.9 million in cash and equivalents.
  • Ofer Katz, CFO, said, "Our Adjusted EBITDA is indicative of the strong cash flow we generate, and together with a healthy balance sheet, we are in a strong financial position to navigate near term macroeconomic volatility and continue focusing on long-term value creation."
  • Outlook: Fiverr sees Q4 2022 revenue of $79.8 million - $85.8 million, against the consensus of $83.99 million. Adjusted EBITDA of $7 million - $8 million.
  • Fiverr sees FY22 revenue of $334 million - $340 million versus the consensus of $336.86 million. Adjusted EBITDA of $22 million - $23 million.
  • Price Action: FVRR shares traded higher by 10.84% at $31.50 in the premarket session on the last check Wednesday.
  • Photo Via Company

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