Online Freelance Marketplace Fiverr Posts Q3 Earnings Above Street View; Active Buyers Dip Slightly

Benzinga ·  11/09/2023 18:31

Fiverr International Ltd (NYSE:FVRR) reported third-quarter FY23 sales growth of 12.1% year-on-year to $92.53 million, beating the analyst consensus estimate of $91.15 million. Active buyers as of September 30, 2023, were 4.164 million versus 4.249 million last year, and Spend per buyer rose 4% Y/Y to $271. Take rate expanded by 130 bps to 31.3%. Non-GAAP gross margin expanded 240 basis points to 85.2%, while the adjusted EBITDA margin expanded 1,000 basis points to 17.9%. The operating loss for the quarter was $(2.3) million versus a loss of $(12.5) million last year. Non-GAAP EPS of $0.55 beat the consensus of $0.44. Fiverr generated $23.4 million in operating cash flow and held $129.9 million in cash

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