by Daniel Shvartsman
Investing.com -- Fiverr (NYSE:FVRR) shares are rallying this morning on Q3 numbers that outpaced analyst expectations and FVRR guidance, and suggested the post-pandemic hangover fears hanging over the company were not fully justified.
Fiverr reported Q3 revenue of $74.3M (NYSE:MMM), 42% growth from last year and ahead of guidance of $72M and analyst estimates of $71M. Earnings also came in ahead of expectations, with non-GAAP net income of $.19/share vs. expectations of $.02 share. GAAP net loss was $.39 per diluted share. The company posted Adjusted EBITDA of $7.3M.
Active buyers rose 33% year over year while spend per buyer rose 20% and Fiverr’s take rate rose to 28.4%, up from 27%.
The company’s guidance for Q4 is for 33-39% revenue growth and adjusted EBITDA of $5.5-7M, and they raised their annual revenue guidance by $10M at the midpoint of their range, though it is still below guidance levels earlier in the year.
Ofer Katz, Fiverr’s President and CFO, said, “Fiverr continues to deliver strong financial results amidst the still uncertain backdrop of the pandemic.”
Fiverr had sold off after their Q2 report where the company cited global reopening as a reason for a muted financial outlook. While shares are up 15% pre-market, they are still down 45% from 52-week highs.