Fiverr Q4 Beats Forecasts On Rising Buyer Spend, But 2024 Outlook Falls Short
Portfolio Pulse from Anusuya Lahiri
Fiverr International Ltd (NYSE:FVRR) reported Q4 fiscal 2023 sales of $91.50 million, slightly missing analyst estimates but with a 10.1% Y/Y growth. Adjusted EPS of $0.56 exceeded expectations. Despite a decrease in active buyers, spend per buyer and take rate improved. The company achieved its first annual GAAP profitability in 2023. However, Fiverr's 2024 revenue outlook is below analyst expectations, leading to a 3.44% drop in premarket shares.
February 22, 2024 | 1:36 pm
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Fiverr's Q4 fiscal 2023 report showed a slight miss on sales but beat on adjusted EPS. The company reported its first annual GAAP profitability but provided a weaker than expected 2024 revenue outlook, leading to a premarket share price drop of 3.44%.
Fiverr's Q4 financial performance was mixed, with a slight miss on sales but a beat on adjusted EPS, showcasing the company's profitability improvements. However, the weaker than expected revenue outlook for 2024 has negatively impacted investor sentiment, leading to a premarket drop in share price. This suggests a short-term negative impact on FVRR's stock price.
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