HomeMarket NewsSmall CapsOnline Freelance Marketplace Fiverr Posts Q3 Earnings Above Street View; Active Buyers...

Online Freelance Marketplace Fiverr Posts Q3 Earnings Above Street View; Active Buyers Dip Slightly

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# Fiverr International Ltd Posts Q3 Earnings Above Expectations Despite Slight Dip in Active Buyers

Fiverr International Ltd (NYSE: FVRR) has reported a robust performance in the third quarter of FY23, with sales reaching $92.53 million, surpassing the analyst consensus of $91.15 million. The company’s active buyers as of September 30, 2023, stood at 4.164 million, slightly lower than the previous year’s 4.249 million. However, spend per buyer witnessed a 4% year-on-year increase to $271, and the take rate expanded by 130 basis points to 31.3%.

The non-GAAP gross margin saw a substantial expansion of 240 basis points to 85.2%, and the adjusted EBITDA margin grew by 1,000 basis points to reach 17.9%. Moreover, the operating loss for the quarter narrowed to $(2.3) million from $(12.5) million in the comparable period last year. The non-GAAP EPS of $0.55 outperformed the consensus estimate of $0.44, reflecting the company’s strong financial position.

Fiverr also demonstrated solid cash flow generation, with operating cash flow amounting to $23.4 million and holding $129.9 million in cash and equivalents as of September 30, 2023.

Looking ahead, Fiverr anticipates Q4 2023 revenue to range between $88.1 million and $95.1 million, with an adjusted EBITDA of $14.9 million to $16.9 million. The company reaffirmed its FY23 revenue outlook of $358 million to $365 million, with an adjusted EBITDA in the range of $58 million to $60 million.

Despite the impressive earnings, Fiverr’s shares closed only slightly higher by 0.15% at $24.09 on Wednesday, indicating a muted market reaction to the positive financial results.

In conclusion, Fiverr’s performance in Q3 FY23 showcases its ability to deliver strong financial results despite a slight decline in active buyers. The company’s optimistic outlook for the upcoming quarters reflects its confidence in sustaining growth. Fiverr’s robust financial position and strategic initiatives position it well for continued success in the competitive online freelance marketplace.

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### Sources:
– [Benzinga](https://www.benzinga.com/)

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