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Fiverr reported earnings that beat analyst estimates by 10%, a solid result that helped drive positive market sentiment. Revenue landed at $107.9 million, up 8.3% year-over-year and essentially in line with consensus expectations of $107.9 million. The earnings surprise came from operational efficiency rather than top-line acceleration.
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FVRR revenue growth rate of 8.3% marks a deceleration from the company’s recent quarterly trends, where it had been posting double-digit growth rates.
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Fiverr International (NYSE: FVRR) reported Q3 2025 results on Nov. 5, delivering an earnings beat while revenue came in marginally ahead of expectations. The stock gained ground on the news, though the company faces persistent headwinds from a shrinking buyer base even as AI-driven demand supports growth.
Fiverr reported earnings that beat analyst estimates by 10%, a solid result that helped drive positive market sentiment. Revenue landed at $107.9 million, up 8.3% year-over-year and essentially in line with consensus expectations of $107.9 million. The earnings surprise came from operational efficiency rather than top-line acceleration. I’d note that the revenue growth rate of 8.3% marks a deceleration from the company’s recent quarterly trends, where it had been posting double-digit growth rates.
The quarter benefited from AI-related demand as businesses sought freelance talent for emerging projects. Pro Services, which targets higher-value engagements, showed growth momentum. This offset what remains the company’s core challenge: a contracting buyer base. The company continues to struggle with retaining and growing its customer count, which limits the ceiling on revenue expansion despite higher spending per active buyer.
Fiverr’s path to consistent profitability has been real. Full-year 2024 earnings reached $2.38 per share, representing meaningful growth from $1.96 in 2023. The company has turned the corner from its unprofitable days in 2019 and earlier. That said, operating margins remain thin. Q2 2025 showed an operating loss of $1.99 million despite gross margins holding strong at 81.2%. The company is generating cash, with 2024 operating cash flow of $83.1 million, though profitability swings quarter-to-quarter.
Q3 2025 Revenue: $107.9M (vs. $107.9M estimated); up 8.3% year-over-year
Earnings Beat: +10% vs. consensus
Full-Year 2024 EPS: $2.38 (vs. $1.96 in 2023)
Gross Margin (Q2 2025): 81.2%
Operating Cash Flow (2024): $83.1M
Cash Position: $314.8M
The earnings beat signals operational discipline, but the slowing revenue growth is the more important signal here. You’ll want to track whether the company can stabilize its buyer base or if AI-driven work can sustain growth momentum on its own.
The analyst community remains constructive. Eight analysts rate the stock Buy or Strong Buy, versus three on Hold and none on Sell. The consensus price target sits at $31.90, suggesting 46% upside from current levels. That said, the forward P/E of 9.16 versus a trailing P/E of 45.06 reflects expectations for significant earnings acceleration ahead. Analysts believe the company can grow into a more profitable profile, though execution on buyer retention will be critical to validate that thesis.
The stock declined 1.62% in the week following the October 29 report, a modest reaction that suggests the market absorbed the results without major surprise. Year-to-date, FVRR is down 31.9%, a steeper decline that reflects broader skepticism about the company’s ability to reignite buyer growth. Trading at $21.82, the stock is off 88% from its $189 five-year high, indicating either severe deterioration in fundamentals or a potential value opportunity depending on your view of the buyer base trajectory.
Focus on Q4 2025 guidance and management’s commentary on buyer trends. If the company can show stabilization in customer acquisition or provide confidence that AI-driven work can offset buyer headwinds, sentiment could shift. The earnings call will be essential for understanding whether this quarter’s beat represents a sustainable inflection or a one-quarter blip.