Fiverr reported a non-GAAP EPS (diluted) of USD 0.21 in Q3 FY2022, exceeding the analyst estimates of USD 0.06 and the EPS of USD 0.19 in Q3 FY2021. Total revenue was up 11.1% year-over-year (YoY) to USD 82.5 million in Q3 FY2022 in line with the USD 80.5 million–82.5 million guidance provided in the last quarter.

Q3 FY2022 revenue growth was supported by a 3.1% YoY increase in active buyers to 4.2 million from 4.1 million in the previous year, a 12.0% YoY growth in spend per buyer to USD 262, and a ~160 basis points (bps) increase in the take rate to 30.0% compared to 28.4% in Q3 FY2021.

Q3 FY2022 non-GAAP gross profit improved 8.9% YoY to USD 68.3 million, while the gross margin shrank ~160 bps to 82.8% from 84.4% in Q3 FY2021. Adjusted EBITDA declined by 9.9% YoY to USD 6.6 million in Q3 FY2022 from USD 7.3 million in Q3 FY2021, with a margin reduction of ~190 bps to 7.9%. However, this was above the adjusted EBITDA guidance of USD 5.0 million–6.0 million provided in the previous quarter.

Fiverr guided FY2022 revenue to be USD 334.0 million–340.0 million, implying 12%–14% YoY growth, reaffirming the guidance provided in the previous quarter . Adjusted EBITDA guidance for FY2022 was revised upward to USD 22.0 million–23.0 million in Q3 FY2022, from the USD 19.5 million–21.5 million guidance provided in Q2 FY2022.