Fiverr International Ltd (NYSE:FVRR) reported third-quarter fiscal 2024 sales growth of 8% year-on-year to $99.63 million, beating the analyst consensus estimate of $96.42 million.
The online marketplace for freelance services reported an adjusted EPS of $0.64, beating the analyst consensus estimate of $0.59. The stock gained after the print.
As of September 30, 2024, there were 3.8 million active buyers versus 4.2 million last year, and the Spend per buyer rose 9% year over year to $296.
Also Read: PayPal’s Solid Transaction Growth Boosts Confidence, Yet Q4 Revenue Guidance Dampens Enthusiasm: Analyst
The take rate expanded by 260 bps to 33.9%.
The adjusted gross margin declined 120 basis points to 84.0%, while the adjusted EBITDA margin expanded 180 basis points to 19.7%.
The operating loss for the quarter was $(3.48) million, compared to a loss of $(2.35) million last year.
Fiverr generated $10.87 million in operating cash flow and held $374.89 million in cash and equivalents as of September 30, 2024.
“The strong results and our continued progress on profitability improvements put us well on track to achieve our three-year targets for Adjusted EBITDA and free cash flow,” said Ofer Katz, President and CFO of Fiverr.”
Outlook: Fiverr expects fourth-quarter fiscal 2024 revenue of $100.2 million–$102.2 million, against the consensus of $100.64 million. Adjusted EBITDA of $19.5 million – $21.5 million.
Fiverr projects fiscal 2024 revenue of $388.0 million–$390.0 million (prior $383.0 million–$387.0 million) versus the consensus of $385.13 million. Adjusted EBITDA of $73.0 million–$75.0 million (prior $69.0 million–$73.0 million).
Fiverr International stock gained 19% in the last 12 months.
Price Action: FVRR stock is up 16.40% at $29.17 at the last check on Wednesday.
Also Read:
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.