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Fiverr Q2 revenue up 60%, spend per buyer up 23%

August 05, 2021

Online talent platform Fiverr International Ltd. (NYSE: FVRR) revenue rose 59.7% year over year in the second quarter.

The increase was driven by strong active buyer growth as businesses continue to turn to Fiverr to access digital service providers, according to founder and CEO Micha Kaufman. “We are accelerating the pace of investments to make Fiverr into a powerhouse that enables more buyers and sellers to participate in the digital service economy,” he said.

(US$ thousands) Q2 2021 Q2 2020 % change
Revenue $75,263 $47,130 59.7%
Gross profit $62,735 $39,173 60.1%
Gross margin 83.4% 83.1%  
Net loss ($13,299) ($124) nm

The number of active buyers on Fiverr’s platform rose 43% year over year to 4.0 million in the second quarter. Spend per buyer rose to $226, up 23% from $184 in the second quarter of last year.

Fiverr also announced new partnerships with Salesforce and Wix.

“The partnerships will allow these two companies to qualify Fiverr sellers through purpose-built training programs and minimizing the screening and onboarding friction for them to access this talent,” the group stated.

Guidance

Fiverr forecast third-quarter revenue of between $68.0 million and $72.0 million, a year-over-year increase of between 30% to 38%.

Share price and market cap

Shares in Fiverr were down 23.65% to $76.06 as of 11:46 a.m. Eastern time; they were 71.90% above their 52-week low set Aug. 11, 2020, according to FT.com. The company had a market cap of $8.26 billion.