What happened
Shares of freelancer platform specialist Fiverr (FVRR -2.60%) jumped on Thursday. Shares rose as much as 18.6%, and were up about 14% as of 11:45 a.m. ET today. The growth stock's jump followed Fiverr's fourth-quarter earnings report this morning, before market open.
Fiverr reported revenue and adjusted earnings per share above analysts' average forecasts for the two metrics. In addition, management provided a robust first-quarter and full-year outlook.
Image source: Getty Images.
So what
Fiverr's fourth-quarter revenue increased 43% year over year to $79.8 million. This was fueled by a 23% year-over-year increase in active buyers, an 18% boost in spend per buyer, and an expansion in the company's take rate on total gross merchandise volume (GMV). Analysts on average expected fourth-quarter revenue of $76.8 million.
"Our perpetual focus on our community and improving our platform has allowed us to deliver a strong finish to 2021 and exceptional retention trends," said CEO Micha Kaufman in the company's fourth-quarter earnings release. "As we continue to build on our strategy we are confident in the relevance, value and resilience of our business."
Now what
Management was also upbeat about the company's outlook, with chief financial officer Ofer Katz noting, "Fiverr continues to see growth across all metrics with predictable cohort behavior, giving us confidence to provide strong guidance for the year ahead."
For its first quarter and full year 2022, management guided for year-over-year revenue growth of 24% to 27% and 25% to 27%, respectively. The midpoint of both of these ranges was above analysts' consensus view.
