Download PDF

1. Company Snapshot

1.a. Company Description

Fiverr International Ltd.operates an online marketplace worldwide.Its platform enables sellers to sell their services and buyers to buy them.


The company's platform includes approximately 550 categories in nine verticals, including graphic and design, digital marketing, writing and translation, video and animation, music and audio, programming and technology, business, data, and lifestyle.It also offers Fiverr Workspace, which provides freelancers a software solution to manage invoicing, contracts, time tracking, and organizing workflow; Fiverr Learn and CreativeLive that offers learning and development offerings for freelancers; ClearVoice, a subscription based content marketing platform; and Stoke Talent, a freelancer management system.In addition, the company provides back office and creative talent platforms.


Its buyers include businesses of various sizes, as well as sellers comprise a group of freelancers and small businesses.The company was incorporated in 2010 and is headquartered in Tel Aviv-Yafo, Israel.

Show Full description

1.b. Last Insights on FVRR

Fiverr International Ltd.'s recent performance has been impacted by a shrinking buyer base, which likely weighed on its Q3 results. Despite beating Q3 earnings estimates with $0.77 per share, profitability remains tight. The company's refocusing effort, including job cuts, may be a response to these challenges. Analysts' price targets suggest a potential upside, with a 26.93% to 33.19% increase, according to BTIG and other sources. The company's Q3 performance was driven by AI-driven demand and Pro Services growth.

1.c. Company Highlights

2. Fiverr's Transformation and Financials: A Deeper Dive

Fiverr International Ltd. reported a revenue growth of 10% in 2025, accelerating from 8% in 2024, with adjusted EBITDA reaching $92 million, up 23% year over year, and a margin of 21%. Earnings per share (EPS) came in at $0.86, beating estimates of $0.76. The company's spend per buyer increased 13% year over year, and GMV from projects over $1,000 grew 23%, indicating a shift towards higher-value transactions.

Publication Date: Mar -03

📋 Highlights
  • 2025 Revenue & EBITDA Growth: Revenue grew 10% YoY ($104M in EBITDA margin), with adjusted EBITDA up 23% to $92M (21% margin).
  • High-End Segment Shift: GMV from projects over $1,000 increased 23% YoY, while spend per buyer rose 13% as low-end, AI-replaceable services decline.
  • 2026 Guidance & Margin Outlook: Revenue projected at -$12% to -3% YoY ($380M–$420M), with EBITDA margin targeting 18% midpoint, pressured by R&D investment.
  • Strategic AI & Infrastructure Investments: $300M cash reserves allocated to enhance data infrastructure, matching algorithms, and enterprise partnerships for high-end talent flywheel.
  • Margin Sacrifice for Long-Term Growth: Short-term EBITDA margin expected to dip to 18–20% (vs. 25% long-term goal) due to restructuring and high-end project focus.

Business Transformation

Fiverr is transforming into a trusted work platform, moving beyond being a transaction-oriented marketplace. The company is repositioning itself for the future by developing products like dynamic matching and managed services, enabling larger, more complex projects. As Micha Kaufman, Founder and CEO, noted, "AI is not shrinking the market for human talent, but reshaping access and expanding ambition." This transformation is expected to capture significant value in the AI-enabled talent economy.

Guidance and Investment

For 2026, Fiverr expects revenue to be in the range of $380 million to $420 million, representing year-over-year growth of negative 12% to negative 3%. Adjusted EBITDA is expected to be in the range of $60 million to $80 million, with an adjusted EBITDA margin of 18% at the midpoint. The company is making foundational investments across data infrastructure, back-end systems, and product experience to strengthen its high-end talent flywheel.

Valuation Metrics

With a P/E Ratio of 17.98 and an EV/EBITDA of 12.9, Fiverr's valuation suggests that the market is pricing in a certain level of growth and profitability. The company's Free Cash Flow Yield of 28.39% indicates a strong ability to generate cash. Analysts estimate next year's revenue growth at 1.8%, which may be conservative given the company's transformation and investments in high-end talent.

Strategic Focus

Fiverr is deprioritizing low-end and low-value transactions, focusing on high-end, high-skilled, larger scope projects. The company is rebuilding and re-investing in certain parts of the platform to align with the new reality. This strategic focus is expected to drive long-term growth and improve the marketplace moat, enabling the high-end flywheel.

3. NewsRoom

Card image cap

Analyzing Fiverr International (NYSE:FVRR) and Cars.com (NYSE:CARS)

Mar -03

Source: defenseworld.net

Card image cap

Contrasting Fiverr International (NYSE:FVRR) & NextPlat (NASDAQ:NXPL)

Feb -24

Source: defenseworld.net

Card image cap

Critical Contrast: Fiverr International (NYSE:FVRR) vs. Treasure Global (NASDAQ:TGL)

Feb -20

Source: defenseworld.net

Card image cap

Here Are Thursday’s Top Wall Street Analyst Research Calls: Analog Devices, Chewy, Credo Technology, eBay, Fiverr, Shopify, Verizon, and More

Feb -19

Source: 247wallst.com

Card image cap

Fiverr: The Bleeding Will Be Tough To Stop As Growth Slows (Rating Downgrade)

Feb -19

Source: seekingalpha.com

Card image cap

Fiverr International Ltd. (FVRR) Q4 2025 Earnings Call Transcript

Feb -18

Source: seekingalpha.com

Card image cap

Fiverr stock price is collapsing today as the freelancer platform tries to put a positive spin on AI disruption

Feb -18

Source: fastcompany.com

Card image cap

Compared to Estimates, Fiverr (FVRR) Q4 Earnings: A Look at Key Metrics

Feb -18

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.00%)

6. Segments

Online Marketplace

Expected Growth: 10.0%

Fiverr's 10.0% growth is driven by increasing adoption of freelance services, expansion into new categories, and rising demand for digital transformation. The platform's focus on AI-powered matchmaking, enhanced user experience, and strategic partnerships also contribute to its growth. Additionally, the shift towards remote work and the growing need for specialized skills fuel the demand for Fiverr's services.

7. Detailed Products

Digital Marketing Services

Fiverr offers a range of digital marketing services, including SEO, social media management, and content creation, to help businesses improve their online presence.

Graphic and Design Services

Fiverr provides a platform for freelancers to offer graphic design, logo creation, and visual design services to clients.

Writing and Translation Services

Fiverr offers writing, translation, and editing services, including content writing, copywriting, and proofreading.

Programming and Tech Services

Fiverr provides a platform for freelancers to offer programming, web development, and tech services, including website building and maintenance.

Video and Animation Services

Fiverr offers video creation, animation, and editing services, including explainer videos, whiteboard animations, and motion graphics.

Music and Audio Services

Fiverr provides a platform for freelancers to offer music composition, audio editing, and voiceover services.

Business Services

Fiverr offers business services, including virtual assistance, data entry, and customer service.

8. Fiverr International Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Fiverr's services can be substituted with other freelance platforms, but the company's strong brand recognition and large pool of skilled freelancers make it difficult for substitutes to gain traction.

Bargaining Power Of Customers

Fiverr's customers have some bargaining power due to the availability of alternative freelance platforms, but the company's competitive pricing and wide range of services mitigate this power.

Bargaining Power Of Suppliers

Fiverr's suppliers (freelancers) have limited bargaining power due to the company's large pool of skilled freelancers and the ease of finding alternative suppliers.

Threat Of New Entrants

The threat of new entrants is high due to the relatively low barriers to entry in the freelance platform market, but Fiverr's strong brand recognition and established network of freelancers and customers provide a competitive advantage.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of established competitors such as Upwork and Freelancer, but Fiverr's focus on digital marketing and its strong brand recognition help to differentiate it from competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 56.27%
Debt Cost 3.95%
Equity Weight 43.73%
Equity Cost 12.41%
WACC 7.65%
Leverage 128.70%

11. Quality Control: Fiverr International Ltd. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Baltic Classifieds Group

A-Score: 4.5/10

Value: 2.5

Growth: 8.6

Quality: 9.4

Yield: 1.9

Momentum: 1.5

Volatility: 3.3

1-Year Total Return ->

View Full Report
Stock-Card
New Work

A-Score: 4.4/10

Value: 6.7

Growth: 5.0

Quality: 7.2

Yield: 2.5

Momentum: 4.0

Volatility: 1.0

1-Year Total Return ->

View Full Report
Stock-Card
HomeToGo

A-Score: 3.3/10

Value: 9.0

Growth: 6.3

Quality: 2.5

Yield: 0.0

Momentum: 1.0

Volatility: 1.0

1-Year Total Return ->

View Full Report
Stock-Card
Perion Network

A-Score: 3.2/10

Value: 7.9

Growth: 1.1

Quality: 2.6

Yield: 0.0

Momentum: 5.5

Volatility: 2.0

1-Year Total Return ->

View Full Report
Stock-Card
Fiverr

A-Score: 3.0/10

Value: 3.8

Growth: 8.4

Quality: 3.8

Yield: 0.0

Momentum: 0.5

Volatility: 1.7

1-Year Total Return ->

View Full Report
Stock-Card
Similarweb

A-Score: 2.4/10

Value: 5.0

Growth: 5.1

Quality: 3.0

Yield: 0.0

Momentum: 0.5

Volatility: 0.7

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

10.83$

Current Price

10.83$

Potential

-0.00%

Expected Cash-Flows