Fiverr International Ltd. (FVRR) stock plunge during pre-market trading. Here’s to know why?

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LIXT Stock

Fiverr International Ltd. (NASDAQ: FVRR) stock gained by 0.2% at the last close whereas the FVRR stock price declines by 18.12% in the pre-market trading. The goal of Fiverr is to revolutionize the way things work together. The Fiverr network has been at the vanguard of the future of work since 2010, linking organizations of all sizes with experienced freelancers delivering digital skills in over 500 categories across nine verticals.

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FVRR stock, Financial Outcomes

Fiverr International announced its second-quarter financial results. The highlights are stated below:

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  • For the second quarter of 2021, revenue was generated as $75.3 million, an increase of 60 percent year over year.
  • The GAAP gross margin in Q2 2021 was 83.4 percent, a rise of 30 basis points from the second quarter of 2020 (83.1 percent). Both the second quarters of 2021 and 2020 had non-GAAP gross margins of 84.4 percent.
  • In Q2 2021, GAAP net loss was $13.3 million, or $0.37 basic and diluted net loss per share, relative to $0.1 million, or less than $0.01 basic and diluted net loss per share, in the same period in 2020.
  • For the second quarter of 2021, adjusted EBITDA increased to $7.4 million an increase from $3.1 million in Q2 of 2020.
  • In the second quarter of 2021, adjusted EBITDA margin was 9.8%, up 310 basis points from 6.7 percent in the second quarter of 2020.

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Micha Kaufman, Fiverr’s Founder and CEO commented,

Fiverr had another fantastic quarter, with revenue up 60% year over year due to higher active buyer growth as companies continue to use the platform to find digital service providers. They’re speeding up their efforts to turn Fiverr into a force in the digital service economy, allowing more consumers and sellers to engage. As they strive to gain market share and execute on their long-term strategic goals, Fiverr continues to generate great performance across all measures. The company is well-positioned to manage the unpredictable climate effectively


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