Fiverr International Ltd. (NYSE: FVRR), an online talent platform, reported third-quarter revenue rose 11.1% year over year to $82.5 million with growth in both the number of active buyers and spend per buyer.

The number of active buyers on Fiverr’s platform rose 3% year over year to 4.2 million in the third quarter. Meanwhile, the amount of spend per buyer rose by 12% to $262.

Tel Aviv, Israel-based Fiverr noted continued expansion of its programs Promoted Gigs and Seller Plus. 

“I am proud that our business has remained strong in a slowing macro economy,” said founder and CEO Micha Kaufman. “Our focus on driving the flywheel of our marketplace and investing in going upmarket is paying off as over 4.2 million businesses continue to make Fiverr the go-to place for digital services.”

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Guidance

Fiverr forecast fourth-quarter revenue of between $79.8 million and $85.8 million, a year-over-year increase of between 0% and 8%.

For the full year, Fiverr forecast revenue to range between $334.0 million and $340.0 million, a year-over-year increase of between 12% and 14%.

Share price and market cap

Shares in Fiverr were up 10.43% to $31.39 as of 11:10 a.m. Eastern time; they were 20.00% above their 52-week low set on Nov 07, 2022, according to FT.com. Fiverr had a market cap of $1.06 billion.