Fiverr Shares Rally on Q3 Results, Guidance Raise -Breaking
Investing.com — Shares of Fiverr (NYSE 🙂 are rising this morning due to a rally that exceeded analyst expectations and FVRR guidance. This suggests the fears surrounding the company’s post-pandemic recovery were partially justified.
Fiverr reported Q3 revenues of $74.3M. That’s 42% higher than the previous year. It also beat analysts estimates of $71M. Non-GAAP net income was $.19/share, which is higher than the expectations. GAAP net loss came in at $.39 per share. Adjusted EBITDA was $7.3M.
Active buyers rose 33% year over year while spend per buyer rose 20% and Fiverr’s take rate rose to 28.4%, up from 27%.
The company’s guidance for Q4 is for 33-39% revenue growth and adjusted EBITDA of $5.5-7M, and they raised their annual revenue guidance by $10M at the midpoint of their range, though it is still below guidance levels earlier in the year.
Ofer Katz, Fiverr’s President and CFO, said, “Fiverr continues to deliver strong financial results amidst the still uncertain backdrop of the pandemic.”
Fiverr was sold after Q2’s report. Fiverr stated that global reopening had caused a muted financial outlook. Shares have increased 15% by pre-market but are down 45% from their 52-week peak.
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