Freelance marketplace operator Fiverr International (FVRR 10.77%) reported fantastic third-quarter results on Wednesday morning, sending the stock skyward. Share prices rose as much as 30.4% in the morning session, retreating to a still-impressive 15% gain by 12:45 p.m. ET.

Fiverr's mixed Q3 results

Fiverr's third-quarter revenues rose 8% year over year to $99.6 million. A 9% smaller number of freelance service buyers spent 9% more per order. Fiverr's top-line growth stemmed from a significantly larger cut of each transaction, as the company's take rate rose from 31.3% to 33.9%.

Adjusted earnings per diluted share landed at $0.55, down from $0.64 in the year-ago period. At the same time, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 19% to $19.7 million.

The consensus Street projections had called for an adjusted net loss of $0.59 per share on sales of roughly $96.4 million. Investors brushed off the slight bottom-line miss to focus on Fiverr's surging sales and optimistic forward guidance.

Long-term goals and future growth prospects

Fiverr has refocused its business model around long-term relationships, with service buyers returning for several orders and trusted freelancers. Value-added services and client-matching tools powered by artificial intelligence (AI) have also emerged as strong near-term growth drivers.

Management raised their full-year revenue guidance by 1% and reiterated Fiverr's ambition to reach an adjusted EBITDA margin of 25% by the end of 2027. That margin stopped at 19.8% in the third-quarter report, up from 18.1% a year ago.

The gig economy survived the end of the coronavirus pandemic, and Fiverr looks ready to soar as the economy springs back from the recent inflation panic.