Fiverr [NYSE: FVRR] Saw 42% Revenue Growth in Q3 of 2021

Fiverr International Ltd. [NYSE: FVRR] has shared the financial results for the third quarter of 2021. Fiverr has provided a strong third quarter as it experienced revenue growth of 42% y/y. The company is also making advancements towards its long-term vision of the future of work with the acquisitions of CreativeLive and Stoke Talent. It will further reinforce its value proposition to increase market share in its huge TAM.

Fiverr revealed that its revenue in the Q3 of 2021 reached $74.3 million. It represents a rise of 42% year over year. The company’s active buyers increased to 4.1 million as of September 30, 2021, as compared to 3.1 million as of September 30, 2020. It represents a surge of 33% year over year. On the other hand, FVRR’s spending per buyer stood at $234 as of September 30, 2021, compared to $195 as of September 30, 2020. It shows an increase of 20% year over year.

Furthermore, the GAAP gross margin in the Q3 of 2021 remained 83.3%. It indicates a decrease of 10 basis points from 83.4% in the Q3 of 2020. Non-GAAP gross margin in the Q3 of 2021 remained 84.4%, direct from 84.4% in the Q3 of 2020. On the other hand, GAAP net loss in the Q3 of 2021 reached ($14.3) million, or ($0.39) basic and diluted net loss per share, compared to ($0.5) million, or ($0.01) basic and diluted net loss per share, in the Q3 of 2020.

In addition, Fiverr has also provided the financial outlook for Q4 2021. The company is expecting revenue of $74.5 – $77.5 million in Q4 2021. It represents an increase of 33%-39% y/y. On the other hand, it is expecting the Adjusted EBITDA of $5.5 – $7.0 million in Q4 2021. FVRR continues to provide strong financial results in the middle of the uncertain period of the pandemic.