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- Fiverr International Ltd (NYSE: FVRR) reported fourth-quarter FY22 sales growth of 4.2% year-on-year to $83.1 million, marginally missing the consensus of $83.5 million.
- Active buyers increased 1% Y/Y to 4.3 million, and Spend per buyer rose 8% Y/Y to $262. The take rate expanded by 100 bps to 30.2%.
- Non-GAAP gross margin contracted 30 bps to 83.1%, while the adjusted EBITDA margin expanded 20 bps to 11.3%.
- Non-GAAP EPS of $0.26 beat the consensus of $0.20.
- Fiverr generated $9.6 million in operating cash flow and held $329.2 million in cash and equivalents.
- Ofer Katz, CFO, added, "For 2023, we will build on the progress we made in the second half of last year and continue to make headway towards our long-term Adjusted EBITDA margin target of 25%. In an environment where the macro outlook remains highly uncertain, we continue to strive for operational excellence and plan on delivering our Adjusted EBITDA margin target by dynamically managing our cost structure."
- Outlook: Fiverr sees Q1 revenue of $86.5 million - $88.5 million. Adjusted EBITDA of $9.0 million - $10.5 million.
- Fiverr sees FY23 revenue of $350.0 million - $365.0 million. Adjusted EBITDA of $45.0 million - $55.0 million.
- Price Action: FVRR shares are trading higher by 9.93% at $41.52 on Tuesday.
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