Fiverr Rallies as Active Buyers Rise and Earnings, Revenue Beat Expectations

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Fiverr Rallies as Active Buyers Rise and Earnings, Revenue Beat Expectations

By Sam Boughedda

Investing.com -- Shares of freelancer platform Fiverr International (NYSE: FVRR ) rose 12% Thursday following its fourth-quarter earnings report.

Fiverr announced earnings per share of 22 cents on revenue of $79.76 million. Analysts polled by Investing.com anticipated EPS of 11 cents on revenue of $76.96 million.

The company's shares and revenue were also boosted by its active buyers. As of Dec. 31, 2021, active buyers on the platform grew to 4.2 million, compared with 3.4 million as of Dec. 31, 2020, an increase of 23% year over year. Spend per buyer was also up to $242.

The company is clearly benefitting from the rise in freelancers and freelance work. A report conducted by Upwork (NASDAQ: UPWK ) — another freelance platform — showed the number of freelancers in the U.S. hit 59 million in 2021, making up around one-third of the U.S. workforce.

“Our growth has been exceptional over the last two years at 178%, and our fourth quarter alone saw an increase in revenue of 43% year over year to $79.8 million,” said Ofer Katz, Fiverr’s president and CFO.

“Fiverr continues to see growth across all metrics with predictable cohort behavior, giving us confidence to provide strong guidance for the year ahead," added Katz.

The company sees revenue for the first quarter coming in between $85 million to $87 million, with income for the full year 2022 between $373 million and $379 million.

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