• Fiverr reported a non-GAAP EPS (diluted) of USD 0.12 in Q2 FY2022, well above analyst estimates of USD 0.02 but down from the EPS of USD 0.19 in Q2 FY2021. Total revenue was up 13.0% year-over-year (YoY) to USD 85.0 million in Q2 FY2022 but was below the revenue guidance of USD 86.0 million–87.5 million provided in the previous quarter. 

<ul><li>Fiverr guided FY2022 revenue to be USD 332.0 million–340.0 million, implying 12%–14% YoY growth, revised further downward from the USD 345.0 million–365.0 million guidance provided in the previous quarter . Adjusted EBITDA guidance for FY2022 was revised upward to USD 19.5 million–21.5 million from the USD 10.0 million–17.0 million guidance provided in Q1 FY2022, implying a 16.1%–14.9% YoY decline. The company cited increased macro headwinds on global SMB spending amid the current economic conditions as the reason for the downward revision of revenue guidance. Fiverr claims the upward revision of the adjusted EBITDA guidance was a result of recent cost reduction efforts and strengthening investment focus.</ul>

• Q2 FY2022 revenue growth was supported by a 5.6% YoY increase in active buyers to 4.2 million from 4.0 million in the previous year, a 14.6% YoY growth in spend per buyer to USD 259, and a ~200 basis points (bps) increase in the take rate to 29.8% compared to 27.8% in Q2 FY2021.

• Q2 FY2022 non-GAAP gross profit improved 24.3% to USD 71.7 million, while the gross margin shrank 170 bps to 82.7% from 84.4% in Q2 FY2021. Adjusted EBITDA significantly declined by 37.8% YoY to USD 4.6 million in Q2 FY2022 from USD 7.4 million in Q2 FY2021, with a margin reduction by ~440 bps to 5.4%. However, this was above the adjusted EBITDA guidance of USD 3.0 million–4.0 million provided in the previous quarter.