Fiverr International, the freelancing platform, reported better-than-expected earnings for the first quarter after seeing impressive growth across key financial metrics.
Revenue was up 1.5% year-over-year to $88 million, coming in just ahead of analyst estimates.
The company’s profit of $0.39 per share also beat estimates of $0.15.
In a results statement, the company said that its pivot to enhance its focus and efficiency has paid off in the form of revenue growth and its highest quarterly adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).
This comes even as the first quarter usually sees the heaviest investment outlay across the entire year, the company noted.
The number of active buyers on the platform now stands at 4.3 million, with the average spend per buyer around $262.
Fiverr is expecting to see similar numbers in its second quarter, representing 4% to 6% year-over-year growth, and is forecasting full year 2023 revenue of between $355 million to $365 million with adjusted EBITDA of $48 million to $56 million.
Shares of Fiverr rose in early trading before settling around 0.5% higher by midmorning Thursday.
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