In this video I'll go over Fiverr's (FVRR 6.32%) Q1 earnings report and talk about why I believe this company will continue to grow even after the pandemic is over. It beat revenue estimates and EPS and raised its FY21 guidance. So it is safe to say it believes this trend will continue. I covered Fiverr before and talked about why it's a must-have for long-term investors.
The company reported first-quarter revenue of $68.3, up 100% year over year. Active buyers are up to 3.8 million, an increase of 56% year over year. Spend per buyer (SPB) reached $216, compared to $177 as of March 31, 2020, an increase of 22% year over year.
The company also raised guidance for 2021 revenue growth from 46%-50% to 59-63%.
Work from everywhere
To me, it is very clear the world is moving to digital. The pandemic has just accelerated that move. More people will be working remotely in the future, and lots of companies will use freelancers and contractors. Fiverr is perfectly positioned to ride this wave out. But there are competitors out there such as Upwork and even Wix (stay tuned for the next video) and LinkedIn if Microsoft does what it can to salvage that platform.
For my full insights, please watch the video below.
*Stock prices used were the closing prices of May 5, 2021. The video was published on May 6, 2021.