Why Fiverr International (FVRR) Shares Are Trading Higher Today - Fiverr Intl (NYSE:FVRR)

Fiverr International Ltd (NYSE: FVRR) reported fourth-quarter FY22 sales growth of 4.2% year-on-year to $83.1 million, marginally missing the consensus of $83.5 million.
Active buyers increased 1% Y/Y to 4.3 million, and Spend per buyer rose 8% Y/Y to $262. The take rate expanded by 100 bps to 30.2%.
Non-GAAP gross margin contracted 30 bps to 83.1%, while the adjusted EBITDA margin expanded 20 bps to 11.3%.
Non-GAAP EPS of $0.26 beat the consensus of $0.20.
Fiverr generated $9.6 million in operating cash flow and held $329.2 million in cash and equivalents.
Ofer Katz, CFO, added, "For 2023, we will build on the progress we made in the second half of last year and continue to make headway towards our long-term Adjusted EBITDA margin target of 25%. In an environment where the macro outlook remains highly uncertain, we continue to strive for operational excellence and plan on delivering our Adjusted EBITDA margin target by dynamically managing our cost structure."
Outlook: Fiverr sees Q1 revenue of $86.5 million - $88.5 million. Adjusted EBITDA of $9.0 million - $10.5 million.
Fiverr sees FY23 revenue of $350.0 million - $365.0 million. Adjusted EBITDA of $45.0 million - $55.0 million.
Price Action: FVRR shares are trading higher by 9.93% at $41.52 on Tuesday.

Why Fiverr International Shares Are Trading Higher Today