Fiverr's Stock Gains On Q2 Performance Driven by Strong Gross Margin Expansion, Upbeat Annual Outlook
Portfolio Pulse from Anusuya Lahiri
Fiverr International Ltd reported Q2 FY23 sales growth of 5.1% YoY to $89.4 million, slightly above the consensus of $89.2 million. Non-GAAP gross margin expanded by 150 bps to 84.2%, and the adjusted EBITDA margin expanded by 1,170 bps to 17.1%. The company raised its FY23 revenue and adjusted EBITDA outlook. FVRR shares are trading higher by 5.43% in premarket trading.
August 04, 2023 | 1:26 pm
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Fiverr reported strong Q2 FY23 results with sales growth and margin expansion, beating consensus estimates. The company also raised its FY23 outlook, leading to a rise in its stock price.
Fiverr's Q2 FY23 results exceeded expectations with sales growth and significant margin expansion. The company's raised outlook for FY23 indicates confidence in its future performance, which is positively impacting investor sentiment and driving the stock price up.
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