Online gigs marketplace Fiverr (NYSE:FVRR) has delivered impressive third-quarter numbers. Revenue rose 11% year-over-year to $82.5 million, surpassing estimates by ~$1.4 million.
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Importantly, EPS at $0.21 substantially outperformed expectations by $0.11. The company’s efforts to go upmarket are yielding results and it now has more than 4.2 million businesses on its platform.
Further, its cost improvement measures are helping accelerate adjusted EBITDA. During the quarter, while spend per buyer increased by 12%, the take rate improved by 160 basis points to 30%.
Looking ahead, the company now expects full-year 2022 revenue to range between $334 million and $340 million. Adjusted EBITDA is expected to land between $22 million and $23 million.
Shares of the company have tanked ~82% over the past year and short interest in the stock is inching towards 13% at present.
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