Categories Earnings, Technology

Fiverr surprises the market by cutting down losses in Q2

In its maiden earnings announcement as a public company, Fiverr International (NYSE: FVRR) reported 41% growth in revenues to $25.9 million, higher than $24.09 million expected by the Wall Street.  

Meanwhile, net loss for the second quarter of 2019 narrowed to 19 cents per share from 25 cents per share a year ago, even as analysts were expecting a wider net loss of 42 cents per share.  

fiverr stock representation fiverr
Image for representation (Photo by Andrew Neel on Unsplash)

Fiverr shares jumped 2.4% post the earnings announcement.

The number of active buyers increased 14% in Q2, while spend per buyer was $157, up 16% year-over-year.

The Israeli company added that its revenues for the full year are expected to grow 34%-37% and adjusted EBITDA loss is anticipated in the range of $20.5 million to $21.5 million.

READ: Partnerships likely to drive Dropbox higher post Q2

For the third quarter, the online freelancing platform expects 30-35% growth in revenue and adjusted EBITDA loss between $5 million and $6 million.    

Almost two months back, Fiverr witnessed a spectacular initial public offering. The company had issued 5.3 million shares for $21 apiece, and at the end of its first trading day, the stock price had climbed almost 90%.

However, the stock failed to hold investor interest post this. Currently, it is trading 17% above its trading price.

READ: After an impressive IPO, Crowdstrike posts upbeat Q1 earnings

To Fiverr critics, lack of profitability is the biggest turn-off factor. And the company has been trying to overcome this through a number of innovative ways – including a “studio” feature that allows freelancers to come together as teams to work on bigger projects, as well as the introduction of gaming services to benefit from the rising popularity of this industry.

Recently the company had announced that PUBG and Fortnite experts who will be available to coach players on the platform. These new additions are expected to boost overall results in Q2.  

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top