Talent platform Fiverr International Ltd., headquartered in Israel, reported revenue in the fourth quarter of 2023 stood at $91.5 million, compared to $83.1 million in the fourth quarter of 2022, an increase of 10.1% year over year.

Adjusted EBITDA in the fourth quarter of 2023 was $16.1 million, up 71.2% compared to $9.4 million in the fourth quarter of 2022. 

“We are pleased to deliver strong results for 2023 with both revenue and Adjusted EBITDA ahead of our targets set at the beginning of the year. In the face of an uncertain macro environment, we continue to lead through innovation,” said Micha Kaufman, Fiverr’s Founder and CEO. “We entered 2024 with great confidence that we will continue to deliver profitable growth, expand our market share in the digital services industry, and create long lasting values for both our community and our shareholders.”

Ofer Katz, President and CFO at Fiverr, added, “For 2023, we successfully executed our strategy of strengthening core marketplace, moving upmarket and investing in AI, while diligently managing our expenses. When top-of-funnel acquisition is expensive, we leaned inward by maintaining strong marketing efficiency, generating more revenue from repeat business, and continuing to expand our wallet share with our customers.”

“We more than doubled our Adjusted EBITDA margin in 2023, and achieved annual GAAP profitability for the first time in our history,” Katz said.

Revenue in FY 2023 was $361.4 million, an increase of 7.1% year over year.

Looking ahead, for Adjusted EBITDA, Fiverr expects to expand its Adjusted EBITDA margin at a steady pace and continue to make progress towards our long-term target of 25%. Overall, the company expects to take a balanced and measured approach in driving profitable growth in 2024.

Revenue for Q1 2024 is forecasted to be in the range of $91.5 - $93.5 million (4-6% annual growth). Adjusted EBITDA is expected to be in the range of $12.5 - $14.5 million.

For FY 2024, revenue is forecasted to be in the range of $379.0 - $387.0 million (5-7% annual growth). Adjusted EBITDA is forecasted to be in the range of $65.0 - $73.0 million.

Fiverr published its results today. The group last traded yesterday when shares closed at $25.89, 29.19% above the 52 week low of $20.04 set on 1 November 2023. The company has a market cap of $1.02 billion.