Israeli freelance platform Fiverr delivered third-quarter earnings that topped forecasts, with 42% year-over-year revenue growth reaching $74.3 million and net earnings per share of $0.19.
Analysts had forecast earnings of $71 million, and Fiverr’s own guidance estimated earnings in the range of $68-$72 million.
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Fiverr Founder and CEO Micha Kaufman said in a press release on Wednesday (Nov. 10) that the company is moving forward to reach its long-term “vision of the future of work.” He pointed to the acquisitions of CreativeLive and Stoke Talent as “further strengthening our value proposition to increase market share in our massive TAM.”
Kaufman added that Fiverr is also in the midst of a new branding campaign that “underscores our belief that anyone should have access to opportunities to pursue their dreams.”
The company recorded a GAAP net loss of $14.3 million compared to a $454,000 net loss in the third quarter of 2020. Non-GAAP net profit for the third quarter of 2021 was $7.7 million, up 61.9% over last year. Net earnings per share were $0.19, compared to a loss of $0.01 predicted by analysts.
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“Fiverr continues to deliver strong financial results amidst the still uncertain backdrop of the pandemic. The underlying strength and scale of our business, together with secular trends toward digital transformation, will drive long-term growth for the company,” said Ofer Katz, Fiverr’s president and CFO.
In the letter to shareholders, Fiverr said that over the next 10 years, the company aims to grow beyond a marketplace and into an “ecosystem that empowers freelancers and businesses to grow and thrive.”
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