Start here if you're new
what it is
Fiverr runs an online marketplace where people hire freelancers for digital work.
how it gets paid
Last year Fvrr made $431M in revenue. Core marketplace fees was the main engine at $300M, or 70% of sales.
why it's growing
Revenue grew 10.1% last year. Sales rose 15% vs. prior year, while EPS came in at $0.11.
what just happened
Revenue hit $216M and gross margin held at 81.1%.
At a glance
n/a balance sheet
30/100 earnings predictability — expect surprises
33.8x trailing p/e — you're paying up for this one
5.0% return on capital — nothing to write home about
$0.48 fy2024 eps est
xvary composite: 39/100 — weak
What they do
Fiverr runs an online marketplace where people hire freelancers for digital work.
Over 4 million customers used Fiverr last year. That is a lot of people tied to one place. Leaving is painful because your buyers, sellers, and tools already sit in the same marketplace (online matchmaker for buyers and sellers).
How they make money
$431M
annual revenue · their business grew +10.1% last year
Core marketplace fees
$300M
+10.1%
Service fees
$55M
+10.1%
Fiverr Business Solutions
$40M
+15.0%
Advertising & promotions
$20M
+15.0%
Subscriptions & other
$16M
+10.1%
The products that matter
freelance work marketplace
Fiverr Marketplace
$389M annual revenue bucket
it is the engine of the business, and it produced $108.6M in q2 2025 revenue while spanning 300+ service categories. if this segment keeps slowing, the whole thesis slows with it.
~90% of revenue
higher-value client push
Fiverr Business Solutions
4–6 quarter test
this is the pivot management wants investors to underwrite. the company gave itself 4–6 quarters to prove larger clients and ai-related services can offset a 14% drop in active buyers.
execution story
Key numbers
$431M
ttm revenue
You get a $431M business against a $376M market cap, so you are paying 0.87x sales.
81.1%
gross margin
That means Fiverr keeps $81.10 of every $100 before overhead.
33.8x
trailing p/e
The source model says the stock trades at 33.8x earnings, while $19.95 and $0.31 imply about 64x.
1.6
beta
A 10% market move can turn into a 16% move here.
Financial health
n/a
strength
- balance sheet grade n/a
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for FVRR right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $216M and gross margin held at 81.1%.
Sales rose 15% vs. prior year, while EPS came in at $0.11. That mix says the business is growing without fixing the profit line yet.
$216M
revenue
$0.11
eps
81.1%
gross margin
the number that mattered
The 81.1% gross margin matters because Fiverr keeps $81 out of every $100 before overhead, and that leaves room to breathe.
source: company earnings report
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is the guided drop in 2026 revenue to $380–$420M. when management tells you sales could fall from about $431M to as low as $380M, that is not noise. that is the thesis test.
high
2026 revenue guide resets the whole story
management's $380–$420M outlook implies a decline of about 3% to 12% from about $431M in 2025 revenue. this is not an optics problem. it is the operating story until the company proves otherwise.
up to about $51M of annual revenue pressure versus 2025
high
active buyer contraction reaches the income statement fast
management expects active buyers to drop 14% as it goes after larger clients. if spend per buyer does not climb fast enough, transaction volume shrinks before the new mix has time to work.
direct pressure on a marketplace that still drives about 90% of revenue
med
high margin does not protect a premium multiple
33.8x trailing earnings is not cheap for a company guiding lower. the stock does not need disaster to rerate. it just needs the pivot to stay messy for a few more quarters.
multiple compression can hit even if the 81.1% gross margin stays intact
med
the 4–6 quarter transition window can expire
management framed the move toward higher-value clients and ai-related services as a 4–6 quarter transition. if proof still looks thin near the end of that window, investors stop calling it a transition and start calling it decline.
sentiment weakens each quarter that lacks visible payoff
almost all revenue still runs through one marketplace, and management has already told you as much as about $51M of that revenue could disappear next year.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
active buyers versus spend per buyer
a 14% buyer decline is manageable only if larger clients spend enough to fill the hole. this is the scoreboard for the whole pivot.
calendar
q1 2026 earnings report
expected in may 2026. you want the first sign that the $380–$420M full-year guide is either conservative or getting worse.
trend
the 4–6 quarter pivot timer
management gave you a window. count the quarters. if the business still looks stuck near the end of that range, the market will cut its patience.
risk
whether downgrades turn into ownership fatigue
btig and needham already cooled on the stock. if more firms follow, valuation pressure can build before operating proof shows up.
Analyst rankings
earnings predictability
30 / 100
low predictability means the quarterly numbers can move around more than you would like. in human-speak, analysts do not see this as a clean steady earner.
risk rank
4
this stock is safer than only about 20% of names in the dataset. that is not a bunker. it is a reminder to expect turbulence.
price stability
5 / 100
a 5 / 100 stability score means the chart can be louder than the fundamentals for stretches. if you own it, you need patience and a strong stomach.
source: institutional data
Institutional activity
institutional ownership data for FVRR is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$20
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive