Fiverr Q3 revenue up by 42% year-on-year
Online marketplace for freelance services Fiverr International reported a 41.9% year-on-year revenue increase to $74.3 million in Q3.
The company’s adjusted Q3 EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) improved to $7.3 million from last year’s $4.2 million due to the increased revenue scale and enhanced leverage in operating expenses.
Active buyers in the company also grew to 4.1 million from 2020’s 3.1 million, increasing by 33% year over year. In addition, spend-per buyer hit $234 from last year’s $195, signifying a 20% y-o-y growth.
Fiverr’s President and CFO Ofer Katz said that despite the pandemic, the “underlying strength and scale” of the business, combined with secular trends will drive the company’s long-term growth.
The company’s Q4 revenue is projected to increase by 33%-39% to $74.5-$77.5 million.
Fiverr also adjusted its full-year revenue forecast amounting to between $292.4 million and $295.4 million, growing by 54% to 56% y-o-y.
