Momentum in higher-value work: Projects over $1,000 grew at a strong double-digit rate, driven by 18% y/y growth in clients completing $1,000+ projects and an expanding base of talent serving these engagements.
Early progress on trust and quality: Ongoing improvements to matching infrastructure are beginning to show results, with early Fiverr Pro tests reducing mismatch rates by nearly 10%.
Advancing toward a work platform: Continued investments in fulfillment and workflow infrastructure to improve project visibility, coordination and quality across the platform.
Raising Adjusted EBITDA guidance: We are reiterating our revenue guidance and raising Adjusted EBITDA guidance for the full-year 2026. The updated guidance reflects solid performance in Q1'26 as well as continued uncertainty in market conditions. It also underscores the strength of our core marketplace profitability, alongside our continued commitment to maintaining financial discipline while investing in the transformation.
NEW YORK, April 29, 2026 (GLOBE NEWSWIRE) -- Fiverr International Ltd. (NYSE:FVRR), the company that is transforming the way the world creates and works together, today reported financial results for the first quarter 2026. Additional operating results and management commentary can be found in the Company's shareholder letter, which is posted to its investor relations website at investors.fiverr.com.
"The year started with execution reflecting the early momentum of our AI-led transformation. Our multi-year plan is moving into focus as we shift from a transactional marketplace to a sophisticated work platform. We are seeing a healthy flywheel effect in the high-value work on Fiverr, with growth momentum across clients and talent who are engaged in complex projects. With our unique business model and differentiated data assets based on real transactions, we have a strong right to win in this new era of human-in-the-loop collaboration," said Micha Kaufman, founder and CEO of Fiverr. "I am incredibly proud of our team's focus as we execute through this transformation and build the future of work."
"Our performance in the first quarter demonstrates the underlying strength and profitability of our core marketplace. We remain committed to funding our transformation with strict financial discipline, ensuring that our long-term investments are balanced with near-term profitability," said Esti Levy Dadon, CFO of Fiverr. "2026 is a transformational year at Fiverr. We are seeing early signals that our investments in high-value work and platform capabilities are beginning to take hold, reinforcing our confidence in the path we are executing."
First Quarter 2026 Financial Highlights
Revenue in the first quarter of 2026 was $105.5 million, compared to $107.2 million in the first quarter of 2025, a decrease of 1.6% year over year.
Marketplace revenue in the first quarter of 2026 was $67.1 million, compared to $77.7 million in the first quarter of 2025, a decline of 13.6% year over year.
Annual active buyers1 as of March 31, 2026, were 2.9 million, compared to 3.5 million as of March 31, 2025, a decline of 17.8% year over year.
Annual spend per buyer1 as of March 31, 2026, reached $356, compared to $309 as of March 31, 2025, an increase of 15.4% year over year.
Marketplace take rate1 for the twelve months period ended March 31, 2026 and 2025 was 27.7%.
Services revenue in the first quarter of 2026 was $38.4 million, compared to $29.5 million in the first quarter of 2025, an increase of 30.0% year over year.
GAAP gross margin in the first quarter of 2026 was 82.1%, an increase of 110 basis points from 81.0% in the first quarter of 2025. Non-GAAP gross margin1 in the first quarter of 2026 was 84.8%, an increase of 40 basis points from 84.4% in the first quarter of 2025.
GAAP net income in the first quarter of 2026 was $8.6 million, or $0.24 basic net income per share and $0.23 diluted net income per share, compared to $0.8 million GAAP net income, or $0.02 basic and diluted net income per share in the first quarter of 2025.
Non-GAAP net income1 in the first quarter of 2026 was $22.9 million, or $0.64 basic non-GAAP net income per share1 and $0.62 diluted non-GAAP net income per share1, compared to $25.0 million non-GAAP net income1, or $0.70 basic non-GAAP net income per share1 and $0.64 diluted non-GAAP net income per share1, in the first quarter of 2025.
Net cash provided by operating activities in the first quarter of 2026 was $21.2 million, compared to $28.3 million in the first quarter of 2025, a decrease of 25.2% year over year.
Free cash flow1 in the first quarter of 2026 was $21.0 million, compared to $27.4 million in the first quarter of 2025, a decrease of 23.2% year over year.
Adjusted EBITDA1 in the first quarter of 2026 was $22.6 million, compared to $19.4 million in the first quarter of 2025. Adjusted EBITDA margin1 was 21.4% in the first quarter of 2026, compared to 18.1% in the first quarter of 2025, representing a 330 basis points improvement year over year.
Financial Outlook
Our Q2'26 and full-year 2026 guidance reflect the recent trends in our marketplace.
Q2 2026
FY 2026
Revenue
$95 - $103 million
$380 - $420 million
y/y growth
(13)% - (5)%
(12)% - (3)%
Adjusted EBITDA(1)
$16 - $20 million
$64 - $80 million
Conference Call and Webcast Details
Fiverr's management will host a conference call to discuss its financial results on Wednesday, April 29, 2026, at 8:30 a.m. Eastern Time. A live webcast of the call can be accessed from Fiverr's Investor Relations website. An archived version will be available on the website after the call. To participate in the conference call, please dial: Toll-Free: 1-833-630-1956 or International: 1-412-317-1837.
About Fiverr
Fiverr's mission is to transform the way the world creates and works together. We're shaping the future of work with the world's leading open platform, seamlessly connecting top talent and cutting-edge technology with businesses around the globe. From expert freelancers in over 750 skilled categories to best-in-class GenAI models and agents, Fiverr provides the most advanced and comprehensive talent and tools for digital services—helping businesses get mission-critical projects done fast and cost-effectively.
From small businesses to Fortune 500 companies, millions trust Fiverr for projects in software and AI development, digital marketing, finance, business consulting, video animation, music, architecture, and more.
Learn how to future-proof your business with exceptional talent and cutting-edge tools at fiverr.com. Follow us on LinkedIn, Instagram, TikTok, and Facebook.
Investor Relations:Jinjin QianEmily
Press:Jenny
Source: Fiverr International Ltd.
CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31,
December 31,
2026
2025
(Unaudited)
(Audited)
Assets
Current assets:
Cash and cash equivalents
$
135,841
$
125,215
Marketable securities
66,934
117,705
User funds
164,470
159,849
Bank deposits
70,000
40,000
Restricted deposit
3,411
3,409
Other receivables
34,018
34,465
Total current assets
474,674
480,643
Long-term assets:
Marketable securities
21,883
-
Property and equipment, net
3,058
3,360
Operating lease right of use asset
2,777
3,513
Deferred Tax Assets, net
27,335
26,423
Intangible assets, net
33,524
36,554
Goodwill
126,313
126,313
Other non-current assets
5,656
7,795
Total long-term assets
220,546
203,958
TOTAL ASSETS
$
695,220
$
684,601
Liabilities and Shareholders' Equity
Current liabilities:
Trade payables
$
9,926
$
9,081
User accounts
153,028
149,454
Deferred revenue
20,171
18,567
Other account payables and accrued expenses
71,387
68,426
Operating lease liabilities
2,752
3,365
Total current liabilities
257,264
248,893
Long-term liabilities:
Operating lease liabilities
623
798
Other non-current liabilities
16,637
22,926
Total long-term liabilities
17,260
23,724
TOTAL LIABILITIES
$
274,524
$
272,617
Shareholders' equity:
Share capital and additional paid-in capital
797,338
786,195
Accumulated deficit
(377,192
)
(377,739
)
Accumulated other comprehensive income
550
3,528
Total shareholders' equity
420,696
411,984
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$
695,220
$
684,601
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and pfb share data)
Three Months Ended
March 31,
2026
2025
(Unaudited)
(Unaudited)
Revenue
$
105,491
$
107,184
Cost of revenue
18,833
20,396
Gross profit
86,658
86,788
Operating expenses:
Research and development
18,061
23,627
Sales and marketing
45,579
47,390
General and administrative
14,523
20,966
Total operating expenses
78,163
91,983
Operating income (loss)
8,495
(5,195
)
Financial income and other, net
1,963
7,325
Income before taxes on income
10,458
2,130
Taxes on income
(1,894
)
(1,332
)
Net income attributable to ordinary shareholders
$
8,564
$
798
Basic net income per share attributable to ordinary shareholders
$
0.24
$
0.02
Basic weighted average ordinary shares
35,971,243
36,019,143
Diluted net income per share attributable to ordinary shareholders
$
0.23
$
0.02
Diluted weighted average ordinary shares
36,601,102
37,292,846
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Three Months Ended
March 31,
2026
2025
(Unaudited)
Cash flows from operating activities:
Net income
$
8,564
$
798
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
3,414
4,284
Amortization of premium and accretion of discount of marketable securities, net
(247
)
(67
)
Amortization of discount and issuance costs of convertible notes
-
641
Shared-based compensation
8,982
15,754
Exchange rate fluctuations and other items, net
126
1
Revaluation of earn-outs
163
3,262
Changes in assets and liabilities:
User funds
(4,621
)
(13,740
)
Operating lease ROU assets and liabilities
(52
)
(73
)
Other receivables
(647
)
2,112
Deferred tax assets, net
(912
)
(1,681
)
Trade payables
808
1,304
Deferred revenue
1,604
1,912
User accounts
3,574
12,935
Payment of earn-out
(3,483
)
-
Other accounts payable and accrued expenses
3,582
1,023
Non-current liabilities
321
(156
)
Net cash provided by operating activities
21,176
28,309
Investing Activities:
Investment in marketable securities
(24,424
)
(55,652
)
Proceeds from maturities of marketable securities
53,332
83,169
Investment in short-term bank deposits
(30,000
)
(1,500
)
Proceeds from short-term bank deposits
-
843
Purchase of property and equipment
(159
)
(287
)
Capitalization of internal-use software
-
(661
)
Other receivables and non-current assets
901
-
Net cash provided by (used in) investing activities
(350
)
25,912
Financing Activities
