Israel-based online staffing platform operator Fiverr International Ltd. (NYSE: FVRR) reported third-quarter revenue rose 41.7%.

Active buyers as of 30 September 2019 were 2.3 million, compared to 2.0 million as of 30 September 2018, an increase of 16% year over year.  Spend per buyer as of 30 September 2019 was $163, compared to $141 as of 30 September 2018, an increase of 15% year over year.

The group continued strong growth momentum in Germany, with traffic to fiverr.de doubling from Q2 to Q3, driven by the successful execution of, and response to, its summer brand campaign in Berlin.

Fiverr CEO Micha Kaufman commented, “It is gratifying to see another quarter of stellar performance and rapid growth and that our continued investment in the platform experience is paying off. Importantly, we are also making great strides on our path to profitability. Recent strategic initiatives that highlight our multiple growth levers continue to focus on enhancing our value proposition to both buyers and sellers globally while simultaneously growing our addressable market.”

Ofer Katz, Fiverr CFO, added, “The growth of our active buyer base was driven by continued and consistent cohort behaviour, further gains in performance marketing efficiency, and our latest product and technology enhancements. The strong growth in spend per buyer highlights our continued success in moving upmarket, and we continued to expand our industry-leading take rate. We look forward to ending 2019 on a strong note.”

Looking ahead, revenue guidance for the fourth quarter of 2019 is $28.0 to $29.0 million. Guidance for the full year is $105.5 to $106.5 million.

In trading today, Fiverr International shares closed at $22.60, up 3.76% on the day and 32.09% above the 52 week low of $17.11 set on 25 September 2019. Based on its current share price the company has a market value of $700.49 million.