Full-Year Revenue and Profitability
Revenue for 2025 grew 10% year over year (accelerating from 8% in 2024). Adjusted EBITDA for full year 2025 reached $92,000,000, up 23% YoY, representing a 21% adjusted EBITDA margin.
Strong Q4 Financials
Q4 2025 revenue was $107.2M, up 3% YoY. Q4 adjusted EBITDA was $26.5M with a 25% adjusted EBITDA margin (improvement of 470 basis points YoY). Free cash flow for Q4 was $21.8M.
High-Value GMV Acceleration
GMV from projects over $1,000 increased ~23% YoY overall (22.8% YoY growth in Q4), indicating accelerating demand for higher-value work.
Buyer Monetization Improvements
Spend per buyer increased 13% YoY (accelerating from 9% in 2024). Buyers spending over $10,000 annually grew 7%.
Services Segment Strength
Services revenue in Q4 was $35.6M, up 18% YoY, and comprised 33% of total Q4 revenue; growth driven by Fiverr Ads, subscriptions, and e-commerce solutions.
Balance Sheet and Cash Position
Company repaid a $460.0M convertible note in Q4 2025 and reported approximately $300.0M in cash on hand, enabling continued buybacks (≈$67.5M remaining authorization) and opportunistic M&A.
Strategic Transformation Plan
Management announced a multiyear plan to become an AI-native talent platform focused on four pillars—matching, product, go-to-market, and operational excellence—with expected tangible impact within 4–6 quarters and positioning for accelerated growth in 2027+.
Structural Marketplace Profitability
Management reiterated that the structural profitability of the core marketplace is expected to remain north of 20% and that long-term adjusted EBITDA could return toward ~25% after transformational investments.