Fiverr revenue doubles in Q1

Micah Kaufmann Photo: Omer Hacohen

The Israeli freelance platform developer is raising guidance for 2021 from 46-50% to 59-63% revenue growth.

Israeli freelance platform developer Fiverr International (NYSE: FVRR) has reported revenue of $68.3 million in the first quarter of 2021, up 100% from the corresponding quarter of 2020.

GAAP net loss in the first quarter of 2021 was $17.8 million ($0.49 per share) compared with $6.2 million ($0.19 per share) in the first quarter of 2020. Non-GAAP net loss was $300,000 ($0.01 per share) in the first quarter of 2021, compared with $2.6 million ($0.08 per share) in the first quarter of 2020.

Fiverr cofounder and CEO Micha Kaufman said, "We continue to capitalize and execute on the ongoing digital transformation as we delivered one of the strongest quarters in Fiverr’s history with outstanding results across the board, supported by continued execution on our strategy. Fiverr’s business momentum remains strong and resilient as we continue to scale at accelerating levels while leading companies through this new world of work."

Fiverr president and CFO Ofer Katz added, "We are thrilled with the Q1 results we delivered, we kicked the year off with 100% year on year revenue growth and continued focus, discipline and execution in the business. As a result of our continued momentum and the visibility built into our business model, we are providing strong guidance for the second quarter of 2021 and significantly upgrading our full-year 2021 guidance upwards."

Fiverr expects business momentum to continue and is raising guidance for 2021 from 46-50% to 59-63% revenue growth.

In pre-market trading on Wall Street after the results were published, Fiverr's share price was up 5.19% at $193. Yesterday's market cap on close of trade was $6.6 billion.

Published by Globes, Israel business news - en.globes.co.il - on May 6, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Micah Kaufmann Photo: Omer Hacohen
Micah Kaufmann Photo: Omer Hacohen
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018