Fiverr Announces Second Quarter 2025 Results

Fiverr International Ltd. (NYSE: FVRR), the company that is transforming the way the world creates and works together, today reported financial results for the second quarter of 2025. Additional operating results and management commentary can be found in the Company’s shareholder letter, which is posted to its investor relations website at investors.fiverr.com.

“AI continues to be a power driver for everything we do, from rapid catalog expansion around AI-related services, to enabling transformative customer experiences, or driving workflow automation within Fiverr. Together with our continuous efforts in going upmarket, we are seeing encouraging growth trends for certain key verticals and high-value transactions,” said Micha Kaufman, founder and CEO of Fiverr. “As AI continues to reshape how work is done, our freelancers are playing a crucial role in helping our customers navigate the rapidly changing technology landscape, and turning AI tools into real world business impact. We are uniquely positioned at the intersection of human and AI, making us the go-to platform for AI expertise.”

“We delivered strong Q2 results as we continue to take a balanced approach between growth and profitability. Growth and innovation remain a top priority for us, especially at a time when AI is unlocking opportunities across almost every discipline. At the same time, we are committed to and confident in delivering our long-term targets for Adjusted EBITDA and free cash flow,” said Ofer Katz, President and CFO of Fiverr. “Our outlook demonstrates our confidence in execution while remaining mindful of a dynamic macro environment.”

Second Quarter 2025 Financial Highlights

– Revenue in the second quarter of 2025 was $108.6 million, compared to $94.7 million in the second quarter of 2024, an increase of 14.8% year over year.
– Marketplace revenue in the second quarter of 2025 was $74.7 million, compared to $76.2 million in the second quarter of 2024, a decline of 2.0% year over year.
– Annual active buyers as of June 30, 2025, were 3.4 million, compared to 3.8 million as of June 30, 2024, a decline of 10.9% year over year.
– Annual spend per buyer as of June 30, 2025, reached $318, compared to $290 as of June 30, 2024, an increase of 9.8% year over year.
– Marketplace take rate for the twelve months period ended June 30, 2025, and 2024 was 27.6%.
– Services revenue in the second quarter of 2025 was $34.0 million, compared to $18.5 million in the second quarter of 2024, an increase of 83.8% year over year.
– GAAP gross margin in the second quarter of 2025 was 81.2%, a decrease of 190 basis points from 83.1% in the second quarter of 2024. Non-GAAP gross margin in the second quarter of 2025 was 84.5%, an increase of 10 basis points from 84.4% in the second quarter of 2024.
– GAAP net income in the second quarter of 2025 was $3.2 million, or $0.09 basic net income per share and diluted net income per share, compared to $3.3 million GAAP net income, or $0.09 basic net income per share and $0.08 diluted net income per share in the second quarter of 2024.
– Non-GAAP net income in the second quarter of 2025 was $27.4 million, or $0.75 basic non-GAAP net income per share and $0.69 diluted non-GAAP net income per share, compared to $23.8 million non-GAAP net income, or $0.63 basic non-GAAP net income per share and $0.58 diluted non-GAAP net income per share, in the second quarter of 2024.
– Net cash provided by operating activities in the second quarter of 2025 was $25.2 million, compared to $21.0 million in the second quarter of 2024, an increase of 20.2% year over year.
– Free cash flow in the second quarter of 2025 was $25.0 million, compared to $20.7 million in the second quarter of 2024, an increase of 21.1% year over year.
– Adjusted EBITDA in the second quarter of 2025 was $21.4 million, compared to $17.8 million in the second quarter of 2024. Adjusted EBITDA margin was 19.7% in the second quarter of 2025, compared to 18.9% in the second quarter of 2024, representing an 80 basis points improvement year over year.


Financial Outlook

Our Q3’25 and full-year 2025 guidance reflect the recent trends in our marketplace.

Revenue – Q3 2025: $105 – $110 million; FY 2025: $425 – $438 million
Y/Y Growth – Q3 2025: 5% – 10%; FY 2025: 9% – 12%
Adjusted EBITDA – Q3 2025: $21.5 – $23.5 million; FY 2025: $84 – $90 million

Conference Call and Webcast Details

Fiverr’s management will host a conference call to discuss its financial results on Wednesday, July 30, 2025, at 8:30 a.m. Eastern Time. A live webcast of the call can be accessed from Fiverr’s Investor Relations website. An archived version will be available on the website after the call. To participate in the conference call, please register using the link at https://edge.media-server.com/mmc/p/8k37hsss.