FVRR

Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Fiverr (NYSE:FVRR) and the best and worst performers in the gig economy industry. The iPhone changed the world, ushering in the era of the “always-on” internet and “on-demand” services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech-enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away. The 6 gig economy stocks we track reported a mixed Q2. As a group, revenues were in line with analysts’ consensus estimates while next quarter’s revenue guidance was 11.2% below. While some gig economy stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.7% since the latest earnings results. Based in Tel Aviv, Fiverr (NYSE:FVRR) operates a fixed price global freelance marketplace for digital services. Fiverr reported revenues of $97.78 million, down 10% year on year. This print fell short of analysts’ expectations by 1.7%. Overall, it was a disappointing quarter for the company with full-year EBITDA guidance missing analysts’ expectations significantly and a decline in its buyers. “What we’re seeing right now is an accelerated evolution of the freelance economy. Our second quarter results reflect a market that is changing faster than expected, driven by rapid AI adoption. As a result, we are focused on repositioning toward higher-value work. While AI absorbs high-volume, low-value, transactional tasks, it is also unlocking the need for longer duration projects where AI tools enhance human expertise, workflow management, and accountability,” said Micha Kaufman, founder and CEO of Fiverr. Fiverr delivered the weakest guidance update and weakest full-year guidance update in the group. The company reported 2.7 million active buyers, down 20.6% year on year. The market seems disappointed with the results as the stock is down 18.9% since reporting and currently trades at $9.40. Read our full report on Fiverr here, it’s free. Founded by Stanford students with the intent to build “the local, on-demand FedEx", DoorDash (NASDAQ:DASH) operates an on-demand food delivery platform. DoorDash reported revenues of $4.45 billion, up 35.6% year on year, outperforming analysts’ expectations by 2.5%. The business had an exceptional quarter with a solid beat of analysts’ EBITDA estimates and impressive growth in its requests. DoorDash pulled off the biggest analyst estimate beat and fastest revenue growth of the whole group. The company reported 970 million service requests, up 27.5% year on year. The market seems happy with the results as the stock is up 11.1% since reporting. It currently trades at $230.28. Is now the time to buy DoorDash? Access our full analysis of the earnings results here, it’s free. Formed through the 2013 merger of Elance and oDesk, Upwork (NASDAQ:UPWK) is an online platform where businesses and independent professionals connect to get work done. Upwork reported revenues of $191.7 million, down 1.7% year on year, exceeding analysts’ expectations by 0.9%. Still, it was a softer quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and revenue guidance for next quarter missing analysts’ expectations significantly. As expected, the stock is down 12.9% since the results and currently trades at $8.56. Read our full analysis of Upwork’s results here. Created by IAC’s mergers of Angie’s List and HomeAdvisor, ANGI (NASDAQ: ANGI) operates the largest online marketplace for home services in the US. Angi reported revenues of $248 million, down 10.9% year on year. This result missed analysts’ expectations by 2.8%. All in all, it was a mixed quarter for the company. Angi had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 20.4% since reporting and currently trades at $4.95. Read our full, actionable report on Angi here, it’s free. Founded by Logan Green and John Zimmer as a long-distance intercity carpooling company Zimride, Lyft (NASDAQ: LYFT) operates a ridesharing network in the US and Canada. Lyft reported revenues of $1.84 billion, up 16.1% year on year. This print topped analysts’ expectations by 1.9%. Overall, it was a strong quarter as it also put up an impressive beat of analysts’ EBITDA estimates and strong growth in its users. The company reported 30.5 million users, up 16.9% year on year. The stock is up 8.2% since reporting and currently trades at $17.64. Read our full, actionable report on Lyft here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Image source: The Motley Fool. Wednesday, July 29, 2026 at 8:30 a.m. ET Senior Investor Relations Manager - Emily Greenstein Founder and Chief Executive Officer - Micha Kaufman Chief Financial Officer - Esti Levy Dadon Operator: Good day and welcome to the Fiverr Second Quarter 2026 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be a question-and-answer session. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Emily Greenstein, Senior Investor Relations Manager. Please go ahead. Emily Greenstein: Thank you, operator, and good morning, everyone. Thank you for joining us on Fiverr's earnings conference call for the Q2 ended June 30, 2026. Joining me on the call today are Micha Kaufman, Founder and CEO, and Esti Levy Dadon, CFO. Before we start, I would like to remind you that during this call, we may make forward-looking statements and that these statements are based on our current expectations and assumptions as of today and Fiverr assumes no obligation to update or revise them. A discussion of some of the important risk factors that could cause actual results to differ materially from any forward-looking statements can be found under the Risk Factors section in Fiverr's most recent Form 20-F and other filings with the SEC. During this call, we will be referring to some key performance metrics and non-GAAP financial measures. Including adjusted EBITDA, adjusted EBITDA margin and free cash flow. Further explanation and a reconciliation of each of the non-GAAP financial measures to the directly comparable GAAP measures is provided in the earnings release we issued today and our shareholder letter each of which is available on our website at investors.fiverr.com. And now I will turn the call over to Micha. Micha Kaufman: Thank you, Emily. Good morning, everyone, and thank you for joining us. Q2 was a transitional quarter. Reflecting an ongoing compression in high-volume, low-value transactional work driven by accelerating AI adoption. As LLMs continue to evolve rapidly, we are seeing our customers accelerate their adoption of AI and workflow automation. Today, high-value work represents 15% of our completed projects gross order value, and is expected to continue growing while the transactional base that makes up the remainder continues to compress. That mix is why the strength of the high-value business is not yet visible in our headline numbers and why every investment we are making is aimed at shifting it. So based on this, there are two reasons we are excited about the upmarket shift. The ability to attract untapped demand and the opportunity associated with projects between our current spend per buyer and high-end project. Over the last few weeks, we have seen clear deceleration in overall marketplace traffic and demand. A trend that has carried over into Q3. We believe that recent model updates across various LLMs are a contributing factor behind this softness, and are confronting these headwinds head on. We are not competing for that work. Instead, we are aggressively executing our push upmarket toward the higher value work where demand is growing. Navigating this structural shift requires intense financial discipline and thoughtful capital allocation which Esti will unpack shortly. We have both the team and balance sheet to execute through this transition and our focus is to deploy our resources where they generate the highest long-term return. Fiverr's multiyear transformation is fundamentally about moving from a transaction-oriented marketplace to a trusted end-to-end work platform for high-end, high-value projects. Put simply, AI is automating simple tasks. And Fiverr is moving toward larger, longer-duration projects where AI deployment meets human judgment, strategic partnership, and accountability. This is a profound evolution in how the work on our platform is matched, delivered, and managed. Transformations of this magnitude require patience. We expect the financial impact to build over several quarters. But our North Star remains unchanged. Positioning Fiverr as the ultimate destination for high-end, high-trust work. And while the financials will take time to catch up, I believe that the underlying operational metrics are proving our strategy. Let me illustrate that across the four strategic pillars we outlined in our shareholder letter. First, our push upmarket continues to validate our strategy. Clients completing projects valued at over $1,000 continued to grow this quarter at 13% year-over-year on a trailing 12-month basis. While the macro environment is volatile for smaller buyers, we see areas of strength in our high-value buyers, particularly around programming and tech and graphics and design. Clients completing projects over $1,000 in programming and tech, grew 34% year-over-year, while graphics and design grew 25% year-over-year on a gross order amount and TTM basis. From an AI services vertical perspective, we are seeing a clear evolution in how clients deploy AI with us. In commercial video and content generation, clients are using AI to scale their performance marketing. Demand for AI user-generated content video ads surged 265% while AI video ads rose 63%. Businesses are not just experimenting. They are actively using freelancers to produce commercial-grade media at a fraction of traditional agency costs. In technical integration, and agentic workflows, buyers are moving past basic chatbots toward complex production setups. Search volume for AI voice agents jumped 49%. AI mobile app development rose 92%. And AI website development grew 39%. The biggest opportunity here is the shift from generic AI to what I call personal AI, AI built into the specific workflows of a specific business. Businesses both tech and traditional, understand that automating their businesses is not a nice-to-have decision but a do-or-die decision to stay competitive. These are demand signals from our own marketplace. And as foundational AI models get more powerful, the execution gap widens. Businesses need skilled talent to orchestrate these tools into functional, revenue-generating outcomes. This quarter, we also continued to see businesses come to us for those multiphase mission-critical projects. For example, one, a growing distributor that recently used a multidisciplinary freelance team on our platform to architect their entire B2B wholesale inventory and logistics ecosystem. This is not just custom code. It is deep operational software running their day-to-day supply chain ultimately setting up for a Phase 2 rollout of a retail POS. Two, a manufacturer replacing a decade-old legacy system with a ground-up rebuild of their custom 3D design software. By tapping into top-tier engineering talent on Fiverr, they are integrating their new ERP system and driving a complete digital transformation. Lastly, an entrepreneur building a stadium access platform complete with security, ticketing, and automated post-event photo monetization. By coordinating multiple APIs and webhooks across payments, storage, and analytics, Our freelance talent is delivering complex integration-heavy consumer platforms at scale. This is where the market is headed and our target remains this segment of long-duration, high-value engagements. Our second pillar focuses on systematically upgrading our matching infrastructure to make trust and quality native to the user experience. We are leveraging our proprietary knowledge graph to capture incredibly nuanced client intent across four vectors. The client, the talent, the scope, and the order itself. We recently began development of live talent skill extraction capabilities, and based on early testing results of over 450 mismatch events, we were able to structurally resolve as high as 58% of conversation skill mismatches directly tackling a major pain point for high-value order cancellations. Additionally, our newly developed graph neural network model which helps improve matching capabilities showed a 7% decrease in cancellation rates for dynamic matching compared to our current model in initial tests. Our third pillar is about moving Fiverr beyond passive matching into an active comprehensive work platform. We are building a standardized fulfillment layer engineered to dynamically safeguard project success. Phase one of this framework is now live in production. It is currently evaluating transactional quality. Reaching as high as a verified 91% precision rate across over 84% of completed projects in our initial testing. This architecture is designed to give us real-time telemetry and sentiment signals. It allows us to track project health, mitigate friction points before order completion, and create the exact infrastructure needed to seamlessly integrate our marketplace with advanced agentic business workflows. Our fourth pillar centers on expanding our growth engines to attract the right kind of demand. We have moved our advanced semantic onboarding models and corporate KYC initiatives into production. These systems capture deep corporate profile data the moment a business joins and route that demand directly to our highest-performing talent. Our development test results drove an 8% lift in new customer conversion. We are also opening up new highly targeted acquisition channels. In June, we launched a dedicated discovery campaign targeting e-commerce merchants looking to scale their TikTok shops. Our goal is to capture higher-value merchants including Amazon FBA, and Shopify merchants, and funnel them into repeatable long-term service journeys on Fiverr. To close, we are repositioning Fiverr deliberately to where the value is higher-end, high-trust work, where human expertise, project orchestration, accountability, are irreplaceable. The operational signals across our strategic pillars tell us we are on the right track. And our job now is to translate those signals into durable financial performance. Backed by our balance sheet and focused execution, we are building the foundation for our next chapter while remaining disciplined in how we allocate capital. With that, I will turn it over to Esti for the financial details. Esti Levy Dadon: Thank you, Micha. Today, I will review our second quarter financial performance and provide additional visibility into the ongoing marketplace transition, an update on capital allocation, as well as third quarter and full-year 2026 financial guidance. Starting with the results. Q2 revenue was $97.8 million, down 10% year-over-year due to a decline in low-value transactional work. Adjusted EBITDA was $17.5 million, down 18.3% year-over-year, representing an adjusted EBITDA margin of 17.9% as margins declined 180 basis points from a year earlier. Margin pressure was limited by the proactive steps the team has taken to maintain a lean organization, including our continued effort in discretionary spend management, internal AI efficiencies, and balanced marketing. Turning to our revenue segments. Q2 marketplace revenue was $63.1 million, declining 15.5% year-over-year, driven by 2.7 million active buyers, $368 in spend per buyer, a 28% marketplace take rate. The 22% year-over-year decline in active buyers was mainly due to the ongoing compression in low-value transactional work. Low-value transactional work currently represents the majority of our marketplace and is decelerating at a faster and stronger rate than the growth associated with our high-value work. Additionally, as Micha noted, in recent weeks, we observed a noticeable deceleration in marketplace traffic and demand which has carried into Q3 and is expected to continue for the foreseeable future. These traffic and demand trends impact the entire marketplace. This pressure was broad-based across simple categories in all verticals. Transaction volume was down 10% or more year-over-year across the majority of projects under $1,000. On a TTM basis, writing and translation saw the steepest decline in more than 24%. Spend per buyer increased 15% year-over-year driven by the ongoing mix shift across the marketplace from low-value transactional projects to $1,000-plus projectss. At the end of Q2, projects at or above $1,000 represented 15% of completed projects gross order amount on a TTM basis. Programming and Tech and Graphics and Design represented the fastest-growing verticals of completed $1,000-plus projects. With both increasing over 25% year-over-year on a TTM basis. On the other end, services revenue in Q2 was $34.6 million up 2% year-over-year. And accounted for 35% of total revenue. Services revenue continued to grow but at a lower rate compared to last quarter. The deceleration is expected to continue into H2 and exit the year with a double-digit decline. The drivers for the deceleration include softening demand from influencer campaigns and dropshipping. As well as weakness in Fiverr Ads and Seller Plus. Services revenue is also negatively impacted by the lower expectations around marketplace growth given the traffic and demand issues we have discussed. Now on capital allocation. Our capital allocation priorities are guided by a disciplined and balanced framework. First, funding the organic transformation investments to reposition towards high-value work. Second, maintaining strategic and financial flexibility in the dynamic AI-automation environment, and third, evaluating opportunities to generate value for shareholders including further repurchases. In the current environment, maintaining a strong balance sheet represents the most responsible path forward. Our healthy financial position provides valuable flexibility. As we continue to run a lean organization focused on cost discipline and maintaining profitability. At the same time, we recognize that capital allocation is a critical component of value creation. We finished the quarter with a total cash and investment balance of $308.5 million and generated $13.6 million in free cash flow. Given the uncertainty, full-year free cash flow is expected to be lower than the previous two years. We are operating in a dynamic environment and we will constantly evaluate where we deploy our capital for the highest return. That also applies to how we invest in our transformation and related growth opportunities. A primary focus will be on executing appropriate cost discipline so we can continue to generate profit and free cash flow. Now moving to financial guidance. Our revised guidance for the third quarter and full-year 2026 reflects the AI-related demand and traffic headwinds observed in recent weeks, which have continued into Q3, impacting our entire marketplace. along with ongoing weakness in categories most exposed to AI automation and declining services revenue. We now expect that meaningful financial impact from our transformation will require at least six quarters to materialize. For the third quarter of 2026, revenue is expected to be between $80 million and $88 million representing year-over-year growth of negative 26% to negative 18%. And adjusted EBITDA between $8 million and $12 million representing an adjusted EBITDA margin of 11.9% at the midpoint. For the full-year 2026, we now expect revenue to be in the range of $356 million to $372 million representing a year-over-year growth of negative 17% to negative 14%. And adjusted EBITDA in the range of $52 million to $62 million representing an adjusted EBITDA margin of 15.7% at the midpoint. While our updated outlook reflects our view of the current operating reality and the extended timeline for our transformation, we are leaning into this moment with the discipline: stabilizing the core marketplace, shifting towards high-value work at a faster pace, preserving flexibility, and allocating capital with a focus on long-term value creation. With that, we will now turn the call over to the operator for questions. Operator: We will now begin the question-and-answer session. To ask a question, you may press star then one on your touch-tone phone. If you are using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star then two. At this time, we will pause momentarily to assemble our roster. The first question today comes from Eric Sheridan with Goldman Sachs. Please go ahead. Eric Sheridan: Thanks so much for taking the questions. Maybe two, if I could. Just drilling down on the six-quarter transition period, can you give us a little bit more granularity about what is it about either business mix or the headwinds and tailwinds you see in the business today that underpin some of the framing of the duration? Of the transition across that type of time period. And then the second would be, you highlighted the recent updates of various LLMs as contributing factor to the weakness. What exactly are you seeing out of those LLMs And how is that sort of manifesting in these headwinds, if we get a little bit more detail? there as well Thank you so much. Micha Kaufman: Good morning, Eric. Thanks for the questions. As for the first one, the answer is yes. It is mostly headwinds, which really impact our estimation of how long this transformation is going to take. that is mainly what is influencing this. And as Esti mentioned, in the opening comments, we run a very lean organization. At the minimal size that is required to move very fast. So we are now a much smaller organization than we used to be as we have done the restructure. restructuring, but the pace in which we move is much, much faster. Given the fact that we assume the trends that we started seeing, in the couple of, the last couple of weeks of Q2 going into Q3, the assumption is they will continue. And this will be the time that we feel the transformation is going to take. Now I did mention the impact of, of a few of the LLM models. And again, the between those LLMs, obviously, there is different types of usage, and there are some models that are more impactful or step function versus those who are just, adding some improvements. But the really interesting thing is that it is not just the LLMs themselves. Or the specific models, but it is how those LLMs are being integrated into other client experiences. I think most noticeable is how Gemini is being integrated into the experience of search on Google. And so it exposes more people to LLM experiences which by turn obviously, impact the traffic that we are getting. So traffic used to come only from search, then it became LLMs as well. And now it is becoming hybrid. So LLMs and traditional search which essentially lowers the volume of traffic, which we called out as one of the major headwinds. Eric Sheridan: Great. Thank you. Operator: Thank you. The next question comes from Ronald Josey with Citi. Please go ahead. Ronald Josey: Micha, just a quick follow-up on Eric's question on the timeline in the six quarters and just can you give us some idea or steps that perhaps we can look into or watch in terms of this transition to see just the progression as we go to higher-value projects upmarket. And then to that, as we do get to higher value projects and given the foundation models get more powerful, just talk to us about the talent on Fiverr's marketplace and the ability to basically answer or deliver these higher value projects? Thank you. Micha Kaufman: Thanks for the questions, Ronald. Good morning. So I will start with the first one, the transformation itself. So we have been calling out in the opening remarks, what we are actually building there, and what are the early signals that we have seen from tests. Those signals of our-- those tests are being deployed more widely which is why we expect to get more impact out of them. So this transformation is really about the matching part of our proprietary knowledge graph. And as we said, the initial deployment of seller's skill extraction which addresses about 58% of mismatches, in a model that decreases by 7% the high-value cancellations. These are really impactful numbers. And since they have been running on tests, they are being deployed widely on production. The product has now an end-to-end fulfillment layer. And the phase one of it is live. And it is evaluating the quality of transactions with 91% precision across 84% of the completed projects. The go-to-market transformation again, we have developed and tested go-to-market new go-to-market and I have mentioned TikTok as an example. Which drove 8% increase in new customer conversion. Again, deploying this at the larger scale. And obviously, we do all of this through keeping this operational excellence and making critical investments to strengthen the high-end talent flywheel and focus on improving marketplace quality for high-value work, and executing with very strong financial discipline as we do this. Now when we look at and this is the second part of your question. When we look at the type of skills, a part of what we are doing in going much faster upmarket means that we are doing-- we are both cleaning our talent pool from unnecessary those who do not have demand for low skills, which is really important because they occupy space on the marketplace. And on the other end, defining the necessary skills ensuring that we if we are missing in some place, the right talent to tackle these needs, these client needs, we have that talent, and it is not-- we onboard them very, very fast. And we started calling some of these project types in categories, but I think the overarching message here is we are not talking about very specific small AI deployments for our clients. Our clients are interested in AI integration. They want to improve the competitiveness and the efficiency of their entire business. Not just you know, put a customer support agent. They want to integrate their entire business workflows. That requires highly skilled professionals. That can assess and understand the actual business needs and understand how to create multiple agents that are tailored for that specific business so they can extract the most out of this AI transformation that, as I have said, is not a nice-to-have, but a do-or-die for businesses. Because the first businesses that are gonna do this are going to be more efficient and going to be more competitive. Ronald Josey: Thank you, Micha. Operator: Thank you. The next question comes from Jason Helfstein with Oppenheimer. Please go ahead. Jason Helfstein: Hey. Thanks for taking the question. So just kind of thinking about the kind of financial outlook. I mean, you made the point you already run a very lean organization. As you said. I guess, what is the right way to think about, you know, EBITDA and cash for next year? I mean, obviously, you are not giving us guidance, but if revenue is down next year, are there other cost actions you can still take? And then I guess you know, how far along are you in this deploying AI internally for your business and kind of automation in the organization and if you want to put those two together as kind of one answer, but that is the question. Thanks. Esti Levy Dadon: Thank you, Jason. Good morning. So our revised guidance for EBITDA reflects first issues that we are seeing on traffic. And that affects the bottom line. However, as you know, we took some cost reduction initiatives in previous quarters that help us to support EBITDA. In addition, as we see traffic issues, we also adjust our marketing spend as we did before. We will continue to assess that if needed. We are protecting our R&D spend because that supports the transformation. And this is our number one priority. To be able to go through this transformation, but and also continue to be profitable. So we should we should think about it during the transformation, this would be a firm that will continue to generate cash. We continue to run a lean organization, and we want to continue to be with cost discipline. Especially about discretionary cost marketing, as I said, But, again, the focus is going through the transformation. Micha Kaufman: Yeah. And to answer, your second question, essentially, the first half of the year was putting all of this infrastructure together and running multiple tests. I called out some of them. To prove that doing so is actually significantly improving the $1,000 transactions in the right clients. What we are going to do in the second half of the year is deploy some of these solutions at scale and continue to work on new things that we feel are going to impact and accelerate the ability to drive a quality experience better conversion, and optimize for a higher spend of those customers. Esti Levy Dadon: I would just add on the free cash flow. So free cash flow follows EBITDA. So you should expect the guidance of the EBITDA should be the range for the guidance for the free cash flow. And as I said, we are aiming to continue to be profitable that means also to continue to generate cash. Operator: The next question comes from Nathaniel Schindler with Scotiabank. Please go ahead. Nathaniel Schindler: Micha, this is kind of a big picture question. For years, you guys have said that really the move to AI was not such a threat because you are basically just a marketplace for freelancers, and freelancers are the most adaptable people in the entire economy. They very rapidly change to what is necessary. and the jobs that need to be done. And as a marketplace, you really do not care what those jobs are. You can just provide the connection point. And that is a really compelling argument. But then in February, it seems like the release of Claude Code was kind of a watershed moment. And the world is now really doing more and more things without touching these freelancers in a sense, and that is why the revenue seems to be declining as much as it is. I get the transformation. I get the need that companies will have for people to help them do these transitions. But how can you be confident that six quarters, in six quarters, there are not going to be more watershed moments where this gets worse. And this gets worse and that you can do more and more with less and you need-- and these freelancers will face their first time or even their renowned adaptability just is not enough. Micha Kaufman: Good morning. Thanks for the question. First of all, I should say we stand behind everything we said. And it is true, and it still is true. What I think we are seeing, and this is also why this requires additional time for this transformation to be highly successful. Is the fact that very similar to previous transformations, technology transformations, or industrial transformations before. The rate in which some skills get compressed versus the rate of the creation of new skills. Is not the same. The creation of new skills the orientation of our clients to understand how do they navigate this new world. Putting names to skills, ensuring that talent is qualified to tackle those needs. Is a cycle. And they do not happen at the same rate. But we are seeing this. Because we have deep expertise in this economy. We constantly have discussions with clients. We are seeing developments in the market. And it takes time but they actually realize that this is as I have said, not a nice-to-have. It is not a choice. It is like 30 years ago, when people thought that having a website was optional. It took time for businesses to understand that if they do not have an online presence, they are going to start losing some of their businesses to their competitors. The same applies for AI. But it takes time for businesses to understand exactly what they need. It is still true freelancers are in the forefront of this curve. They do understand that they obtain these skills fast. But as I said, it is still not the same rate of the compression that we are seeing. And, also, because the high-end is still a small portion of our business, the growth that we are seeing there in some cases, very high growth, is being masked by the compression in the low end. But this increase gives us the confidence that this transformation is the right thing and we should be very committed to it. And the early signals that we have seen from our testing is showing this and that is why we move full-force, fire on all cylinders, to make that transformation as fast as possible. Nathaniel Schindler: And just to follow up on that, as you make a transition to the high-end, and it sounds like the high-end is evolving to even higher end than previous discussions of high-end. Is that moving you more into just being a staffing placement company? Where you are doing as opposed to what you have been so long and so capable at. Is being a marketplace for completed business services. Because it is very hard to define and limit a scope of project in a single listing. This is an "I need someone who has this ability" But are you just totally changing what you are in that respect? Micha Kaufman: I have addressed this in previous calls, and the way we think about Fiverr and our role in this ecosystem is to be very focused on the project, and the outcome-based work. So for us, identifying the need in some cases better qualify that need. Then understand through the knowledge graph who the exact most qualified talent and in some cases, multiple talents. To address and be able to achieve and fulfill that goal making that matching, but also, as I have said, taking a larger portion in the fulfillment of this actual outcome-based result is our function. And that is what defines us in where we focus. And this allows us to be very agile. In this. Nathaniel Schindler: Okay. Thank you. Operator: Thank you. The next question comes from Bernard McTernan with Needham. Please go ahead. Stefanos Crist: Hi. This is Stefanos Crist for Bernie. Thanks for taking our questions. So the projects above $1,000 are 15% of what mix do you expect that to be to offset the decline in the legacy low-value work? And then just on capital allocation, are there any assets out there that can help accelerate your plans, or are you only focused on internal investment? Thank you. Esti Levy Dadon: Okay. Thank you. Stefanos. So while the 15% is still small, but you need to remember that currently our spend per buyer is at $368. So we have a lot of room to grow with the $1,000. Now it would take time, as we said, we are changing fundamentally our platform. It comes with, as Micha mentioned a lot of the talent, the matching, the orders, of course, they go-to-market. Now it would take time. However, we see the opportunity both within the marketplace within our current buyers, and also as we go with new go-to-market. So one example is the TikTok. Example, but we are planning additional partnerships and additional, go-to-market channel. As for capital allocation, so our primary focus is definitely going through the transformation. And we are investing on that. On the M&A side, nothing to call out. We are always opportunistic. But, again, top priority is to do the transformation within the platform, and we are gonna invest in R&D in order to do that. We have the sufficient staff, and we will run lean organization while doing that, as Micha said, we are going to do it fast, but with a leaner organization, and not currently planning to do inorganic. Operator: The next question comes from Bradley Erickson with RBC Capital Markets. You may go ahead. Bradley Erickson: Hi. Thanks. I just want to go back a little on the paper trail of the weakness, if I could. And I realize it is hard to know 100% for certain, but you know, you mentioned Google distribution with kind of integrating LLMs into search and being a driver of the weakness, which makes sense. But I just curious if there is a component from some of these more recent powerful model releases. So I guess the question is, like, is this kind of a marketing issue where Google's making people more aware of these tools being available and they are using them, or is it more just that, like, newer models are just making it easier to do kind of a wider range of things? Or if it is both, I guess, curious which of those two you feel like you are seeing more of lately. Thanks. Micha Kaufman: Yeah. Thank you for the question, Brad. So the weakness of demand and traffic comes from Google, but it has also as I have mentioned, the impact of integrating LLM or AI summaries in the Google search. So by definition, for some customers, they would go directly into the LLM instead of clicking on either paid or organic links. And I think it is a bit it is very visible the fact that the majority of links anyway are paid. So the organic is actually getting squeezed down, which means that the impact of SEO is going down and this is why we and probably every other company is making also an investment in GEO, or generative engine optimization, to make sure that we are inside those LLMs, and we are there. The click-through in LLMs in general is obviously smaller than it is on search. All of these factors actually create headwinds on traffic. The same goes for other models. Sometimes it is the introduction of newer tools. That could be in the case of Claude Code or Design or Claude Opus. And right now, we have Kimi coming in and, you know, Chinese alternative that is coming in to compete, and sometimes it is upgrade of a newer model on ChatGPT. But our assumption is that these models are going to continue developing and competing with each other and depending on their usage and their integration and other things, might influence traffic. That said, and I am not gonna repeat that. The actual needs of the clients that we are aiming for is not being addressed by just using one of these tools. It requires very deep integration of agentic solutions that are well beyond the reach for the vast majority of businesses. Even high-tech businesses, and I know this from first-hand experience, are not having an easy time creating a more agentic organization. So if it is hard for such a sophisticated company like Fiverr, and I have been talking to many other companies, it is 1,000x more complex for traditional businesses. And therefore, they will need-- they will need help, and they will need this idea of human-in-the-loop. Bradley Erickson: Got it. And then just bigger picture, you have such a great lens into the world of models and how to harness them and so forth. I am just curious, like, could you just maybe for a second and give us a little bit of your thinking around just the open-source topic and in particular, you know, we will not talk Frontier specifically, of course, but just you know, software looking to find any way to build a moat, lock their customers in, versus working with open models. How are you kind of thinking holistically about that? And I do not mean certainly for your business, but also just how your customers compete at that level. How do you kind of think about that? Micha Kaufman: Right now, if you think about it, most companies in the world and I am I am excluding maybe the forefront AI companies. Are still pretty much behind. If you look at highly sophisticated companies like ours, the type of challenges that we obsess over is inference, for example, because there is an almost endless amount of different models. Each one slightly better in different tasks but there is also a question of how fast do you need it. So by introducing latency, you can actually pay less for the same model, assuming you do not need the answer or the output right away. So for us, as an example, it is not just how do you extract the most out of a certain model, but how do you use multiple models from multiple foundations to actually maximize this task or the skill that you are trying to solve and also bake price into it. Because you might use various foundation models that cost a lot. Opus costs twice that of Sonnet but for many, many different tasks. It is simply not needed. And so throttling between those you know, dealing with inference is one of the big topics right now. But as I said, I think that this is way, way too advanced for businesses that are tackling much more basic needs. But even those businesses understand that the deployment of AI is not free. Meaning, when you deploy AI, it is not one-and-done. Running agentic environments has a cost. And they want to be aware of it. And some of the things that our experts are doing, is helping customers ensure that they do not overspend for the wrong things. This is why it is so complex. This is why I keep telling that this is this is beyond the capabilities of most businesses and why they need help with it. I think the question of open-source or not open-source is not a big difference. The open-source just allows for the foundational companies to harvest data faster. So they can make it slightly cheaper. We are all working for foundational companies anyway. So if it is good enough, you should probably pay less for it. Bradley Erickson: Okay. I have riffed enough. Thanks a lot. Operator: Thank you. The next question comes from Matthew Condon with Citizens Bank. Please go ahead. Matthew Condon: Thank you for taking the questions. My first one, just wanted to go back to traffic question. Are you seeing a significant deterioration in your payback period in other channels? I mean, I am specifically thinking about it. Is this isolated to SEO or Google traffic? Are you seeing your other channels also deteriorating your performance? And then my second question, is, would you ever consider dynamic pricing or any changes in pricing to try and spur demand across the marketplace? Or is that just not a focus for you guys? Thank you so much. Micha Kaufman: Thanks for the questions. Essentially the situation, if we look at we look at Google, as an example, so first of all, the fact that there is fewer customers coming to Google is impacting the amount of traffic that Google has in its hands to advertise for. Meaning that they increase advertising density. Which means that there is more competition for each placement. Which means that the cost of acquisition is higher. All of this influences the efficiency of marketing. Which is why we take a multichannel approach. Which is why we are investing in GEO to increase the organic traffic from LLM channels. And it is showing great results. But on a click-through, it is still small. We were also one of the first advertising partners on ChatGPT. But it is still very early days. It reminds us when we started working the early days of working with Google. It takes time to build up. They are figuring out. We are figuring out the strategy but we are taking proactive measures. And so what we want to make sure is we want to make sure that the investment that we are doing, this transformation, in the matching infrastructure and the fulfillment workflow is exactly enabling Fiverr to seamlessly integrate into agentic workflows down the road. So that we can give more of our core experiences and core solutions inside these LLM, or whatever they become experiences. To enter the customer experience where they are. Operator: The next question comes from Marvin Fong with BTIG. Please go ahead. Marvin Fong: Great. Good morning. Thanks for taking my questions. Two, if I may. So first one, bigger picture. You know, with these, you know, increasing sophistication in the projects that you are targeting, I mean, do you feel like your current suite of services, you know, Fiverr Business, Fiverr Pro, you know, is enough to address sort of this coming you know, landscape, or do you are you looking at producing additional service channels for your clients to create something a little bit more comprehensive perhaps. And then second question, just a little more focus on the services revenue. You know, called out that Seller Plus would be down. And I am just kind of curious. Is that because you know, freelancers are canceling their subscriptions, or is it that the actual pool of freelancers is kind of shrinking on the side. If you could just kind of provide some insight on what is going on the freelancer side, with respect to services that would be great. Thank you. Micha Kaufman: Thanks for the questions. So as we are doing this transformation, we are basically rebuilding a lot of the core functionality and the core product from the ground-up. Like, I have called out what we are doing with the knowledge graph what we are doing with the end-to-end fulfillment layer, the matching engine and the type of experiences that we expect to provide our customers that are better than better than the best AI out there in the market. I do not want to go into those details because this is being built and is going to be tested and deployed throughout the year. We are working very hard to make sure that those clients that we focus on receive the best experience that they can get to ensure that they achieve their outcome. And we are building new tools. I again, we are not getting into talking about these tools and they are being built. But we are refining the platform to ensure that this is exactly the case. Esti Levy Dadon: And as for the second question about, services revenue, so services revenue and the seller monetization, is affected by the traffic of the marketplace. And the traffic headwinds that we saw in recent weeks affects the ads and the Seller Plus. So we expect that also to be to continue in H2. In addition, in services revenue, we saw some headwinds on AutoDS. And that is also being included into our H2 guidance for services revenue. Marvin Fong: Okay. Great. Thank you, Micha. Thanks, Esti. Operator: Thank you. The next question comes from Joshua Chan with UBS. Please go ahead. Joshua Chan: Hi. Hi. Good afternoon, Micha, Esti. I guess two questions. First, I guess, you do this transition, you know, standing here, I guess, how much of your talent or customer base do you feel like has to switch out or cycle through to complete the transition? And, and how do you know how to acquire, you know, the right talent and right customer for the next phase? And then the second part is when you give the six quarters you know, I guess, estimation, what is the starting point of that six quarters? And then as you deploy the solutions that you are testing, should you see some improvement in the trends even during that period? Thank you. Micha Kaufman: Joshua, thanks for the question. Good morning. So when I think I made that comment earlier, which is we are both cleaning up the lower-end part of our talent that we feel has lower demand to make sure that we optimize the display layer of our marketplace. And our clients to find what they are looking for easier. The same goes for the high-end talent. As I said, identifying the skills on demand and in some cases, defining them. Helping give those skills names is really important. Then it is about qualifying them. We said in many, many earnings calls that Fiverr's one of our biggest moats is the fact that we have been the largest transactional marketplace in the world. And we have collected so many data points that using them in the right way which is how we build the knowledge graph that contains very deep understanding of the client and their needs, understanding the actual scope description and the desired outcome. And pairing them with the right talent that can address exactly that. And since we have such a rich data of actual transactions. where we have high level of trust of the talent that we have the matching becomes much more efficient resulting in much happier outcomes, which then also drive higher retention and higher spend. Esti Levy Dadon: And, Joshua, as for your second question, the six quarters, it is starting now. And, yes, of course, as Micha described, although we are still at the beginning of the period, we have some initial things that we are seeing that are encouraging. And definitely we will share more as we go. Joshua Chan: Great. Thank you both for the color. Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Micha Kaufman for any closing remarks. Micha Kaufman: Thanks so much. Thank you, Chloe, for moderating this call, and thank you, everyone, for calling in. And I wish you a great day. And we will talk soon. Thank you. Operator: The conference has now concluded. Thanks for attending today's presentation. You may now disconnect. Before you buy stock in Fiverr International, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Fiverr International wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has positions in and recommends Fiverr International. The Motley Fool has a disclosure policy. Fiverr (FVRR) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in Fiverr International? Here are five stocks we like better. Fiverr’s Q2 revenue fell 10% to $97.8 million as AI reduced demand for lower-value freelance work. Marketplace revenue declined 15.5%, active buyers dropped 22%, but spend per buyer rose 15.6% and higher-value projects continued to grow. The company is transitioning toward complex, AI-related projects that combine technology with human expertise, including AI video, app development and workflow automation. Fiverr is also investing in improved talent matching and fulfillment, but expects the transformation to take at least six quarters to materially affect results. Traffic weakness led Fiverr to cut its outlook: Q3 revenue is expected at $80 million–$88 million, while full-year revenue is forecast at $356 million–$372 million. The company remains profitable and cash-generative, ending the quarter with $308.5 million in cash and investments, though adjusted EBITDA declined 18.3% year over year. The Palantir Paradox—Record Numbers and a Stock That Won't Cooperate Fiverr International (NYSE:FVRR) reported second-quarter revenue of $97.8 million, down 10% from a year earlier, as the company said accelerating adoption of artificial intelligence is compressing demand for lower-value transactional freelance work. Founder and CEO Micha Kaufman described the quarter as transitional, saying Fiverr is shifting from a transaction-oriented marketplace toward a platform focused on higher-value, longer-duration projects that combine AI tools with human expertise, judgment and accountability. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Can Upwork Maintain Its Comeback? Reasons to Be Bullish and Bearish “AI is automating simple tasks,” Kaufman said. “Fiverr is moving toward larger, longer duration projects where AI deployment meets human judgment, strategic partnership, and accountability.” Marketplace revenue totaled $63.1 million in the second quarter, declining 15.5% year over year. Fiverr reported 2.7 million active buyers, a 22% decline from the prior-year period, while spend per buyer increased 15.6% to $368. The marketplace take rate was 28%. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Small-Caps, Big Buybacks: 3 Stocks With Large Buyback Capacity Chief Financial Officer Esti Levy Dadon said the active-buyer decline was primarily driven by the compression of low-value transactional work, which remains the majority of Fiverr’s marketplace activity. Transaction volume fell by at least 10% year over year across most project categories below $1,000 on a trailing-12-month basis, she said. Writing and translation recorded the steepest decline, at more than 24%. At the same time, projects valued at $1,000 or more accounted for 15% of completed projects’ gross order amount on a trailing-12-month basis. Clients completing projects above $1,000 grew 13% year over year, Kaufman said. Programming and tech projects above that threshold increased 34%, while graphics and design grew 25%. → Oil Prices Are Surging and These 4 Stocks Are Cashing In Management also pointed to growing demand for AI-related services. Kaufman said demand for AI user-generated-content video ads rose 265%, while AI video ads increased 63%. Search volume for AI voice agents climbed 49%, AI mobile app development rose 92%, and AI website development increased 39%. According to Kaufman, businesses are increasingly seeking freelancers for complex AI integrations and workflow automation rather than basic chatbot deployment. He said the company’s target market is outcome-based project work, including projects that can involve multiple specialists, rather than staffing placement. Fiverr said it experienced a noticeable slowdown in marketplace traffic and demand in recent weeks, a trend that continued into the third quarter and is expected to persist for the foreseeable future. Kaufman said recent large-language-model updates and the integration of AI-generated summaries into search experiences are contributing to the traffic pressure. In particular, he said Google’s integration of Gemini into search exposes more users to LLM experiences and can reduce clicks to paid and organic links. “Traffic used to come only from search, then it became LLMs as well, and now it’s becoming hybrids of LLMs and traditional search,” Kaufman said. “That essentially lowers the volume of traffic.” He added that Fiverr is investing in generative engine optimization and pursuing multiple acquisition channels. The company was among the early advertising partners on ChatGPT, he said, although he characterized the opportunity as still in its early stages. Fiverr also launched a discovery campaign in June aimed at e-commerce merchants scaling TikTok shops, including Amazon FBA and Shopify merchants. Services revenue rose 2% year over year to $34.6 million and represented 35% of total revenue. Levy Dadon said services growth slowed from the first quarter and is expected to continue decelerating in the second half, with the company exiting 2026 at a double-digit decline in services revenue. She cited softening demand from influencer campaigns and dropshipping, as well as weakness in Fiverr Ads, Seller Plus and AutoDS. Fiverr is deploying technology intended to improve matching quality and project outcomes for higher-value orders. Kaufman said the company’s proprietary Knowledge Graph analyzes the client, talent, project scope and order details. Early tests of live talent skill extraction resolved as much as 58% of conversation skill mismatches across more than 450 mismatch events, according to Kaufman. A graph neural network model for dynamic matching produced a 7% reduction in cancellation rates in initial tests compared with Fiverr’s existing model. The company also launched the first phase of a standardized fulfillment layer in production. Kaufman said it evaluates transactional quality with a verified 91% precision rate across more than 84% of completed projects in initial testing. Fiverr’s semantic onboarding models and corporate know-your-customer initiatives have also moved into production, with development testing showing an 8% lift in new-customer conversion. Management said these initiatives will require time to meaningfully affect financial results. The company now expects the financial impact of its transformation to take at least six quarters to materialize, beginning in the current period. Second-quarter adjusted EBITDA was $17.5 million, down 18.3% year over year, with an adjusted EBITDA margin of 17.9%, down 180 basis points. Levy Dadon said margin pressure was partly limited by discretionary-spending controls, internal AI efficiencies and balanced marketing spending. Fiverr ended the quarter with $308.5 million in cash and investments and generated $13.6 million in free cash flow. The company said it expects full-year free cash flow to be lower than in each of the prior two years, though management emphasized continued profitability, cash generation and cost discipline. Third-quarter 2026 revenue guidance: $80 million to $88 million, representing a year-over-year decline of 26% to 18%. Third-quarter adjusted EBITDA guidance: $8 million to $12 million, with an 11.9% margin at the midpoint. Full-year 2026 revenue guidance: $356 million to $372 million, representing a year-over-year decline of 17% to 14%. Full-year adjusted EBITDA guidance: $52 million to $62 million, with a 15.7% margin at the midpoint. Levy Dadon said Fiverr intends to protect research and development spending needed for the transformation while adjusting marketing and discretionary costs as conditions warrant. She said the company is not currently planning inorganic investment, though it will remain opportunistic while prioritizing internal platform investment and financial flexibility. Fiverr International Ltd. operates an online marketplace that connects businesses and individuals with freelance talent across a wide range of professional services. Through its platform, Fiverr enables clients to procure work such as graphic design, digital marketing, writing and translation, video and animation, programming and tech, and business services. By offering a streamlined interface for ordering and delivering gig-based work, the company seeks to simplify the procurement of specialized skills on a project-by-project basis. Founded in 2010 and headquartered in Tel Aviv, Israel, Fiverr serves clients and freelancers around the globe, with a particularly strong presence in North America and Europe. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Fiverr International Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Strategic shift towards upmarket: Transitioning from a transaction-oriented marketplace toward a trusted work platform for higher-value projects. Early indicators in higher-value work: Clients completing $1,000+ projects grew 13% y/y on a trailing twelve month basis. Infrastructure and matching optimization: Implemented upgrades to improve matching quality and project outcomes for higher-value work, including live deployment of Fiverr’s proprietary Knowledge Graph. Capital allocation and liquidity: Generated $13.6 million in free cash flow and ended with a cash, cash equivalent, deposits and marketable securities balance of $308.5 million. 2026 Outlook: Provided revised financial guidance ranges through fiscal year 2026 to reflect AI-related demand and traffic headwinds observed in recent weeks that have continued into the third quarter, and persistent weakness across categories most exposed to AI automation. NEW YORK, July 29, 2026 (GLOBE NEWSWIRE) -- 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 2026. 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. “What we’re seeing right now is an accelerated evolution of the freelance economy. Our second quarter results reflect a market that is changing faster than expected, driven by rapid AI adoption. As a result, we are focused on repositioning toward higher-value work. While AI absorbs high-volume, low-value, transactional tasks, it is also unlocking the need for longer duration projects where AI tools enhance human expertise, workflow management, and accountability,” said Micha Kaufman, founder and CEO of Fiverr. “This is a multi-quarter transformation, and our priority is to execute with discipline as we build Fiverr into a trusted destination for higher-value work.” “Our second quarter performance reflects the early stages of a significant transition, as we manage an accelerated shift in how rapid AI adoption impacts low-value, transactional work. We have adjusted our guidance to reflect these ongoing dynamics and the time required for our transformation initiatives to materialize in the financial results,” said Esti Levy-Dadon, CFO of Fiverr. “Importantly, we continue to run a lean organization, focused on cost discipline to maintain profitability. Our balance sheet will provide the necessary flexibility as we stabilize the core marketplace, invest in our upmarket transition, and evaluate capital allocation opportunities with a focus on long-term value creation.” Second Quarter 2026 Financial Highlights Revenue in the second quarter of 2026 was $97.8 million, compared to $108.6 million in the second quarter of 2025, a decrease of 10.0% year over year. Marketplace revenue in the second quarter of 2026 was $63.1 million, compared to $74.7 million in the second quarter of 2025, a decline of 15.5% year over year. Annual active buyers1 as of June 30, 2026, were 2.7 million, compared to 3.4 million as of June 30, 2025, a decline of 21.9% year over year. Annual spend per buyer1 as of June 30, 2026, reached $368, compared to $318 as of June 30, 2025, an increase of 15.6% year over year. Marketplace take rate1 for the twelve months period ended June 30, 2026 was 28.0%, compared to 27.6% for the twelve months period ended June 30, 2025. Services revenue in the second quarter of 2026 was $34.6 million, compared to $34.0 million in the second quarter of 2025, an increase of 2.0% year over year. GAAP gross margin in the second quarter of 2026 was 81.7%, an increase of 50 basis points from 81.2% in the second quarter of 2025. Non-GAAP gross margin1 in the second quarter of 2026 was 84.7%, an increase of 20 basis points from 84.5% in the second quarter of 2025. GAAP net income in the second quarter of 2026 was $4.5 million, or $0.12 basic and diluted net income per share, compared to $3.2 million GAAP net income, or $0.09 basic and diluted net income per share in the second quarter of 2025. Non-GAAP net income1 in the second quarter of 2026 was $18.3 million, or $0.51 basic non-GAAP net income per share1 and $0.50 diluted non-GAAP net income per share1, compared to $27.4 million non-GAAP net income1, or $0.75 basic non-GAAP net income per share1 and $0.69 diluted non-GAAP net income per share1, in the second quarter of 2025. Net cash provided by operating activities in the second quarter of 2026 was $13.8 million, compared to $25.2 million in the second quarter of 2025, a decrease of 45.1% year over year. Free cash flow1 in the second quarter of 2026 was $13.6 million, compared to $25.0 million in the second quarter of 2025, a decrease of 45.5% year over year. Adjusted EBITDA1 in the second quarter of 2026 was $17.5 million, compared to $21.4 million in the second quarter of 2025. Adjusted EBITDA margin1 was 17.9% in the second quarter of 2026, compared to 19.7% in the second quarter of 2025, representing a 180 basis points decline year over year. Financial Outlook Our revised financial guidance through the remainder of fiscal year 2026 reflects the accelerated impacts of certain external factors on the business, recent operating and financial performance, and the dynamic environment in which we will continue to operate as our business transformation progresses. Conference Call and Webcast Details Fiverr’s management will host a conference call to discuss its financial results on Wednesday, July 29, 2026, 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 dial: Toll-Free: 1-833-630-1956 or International: 1-412-317-1837. 1 See “Key Performance Metrics and Non-GAAP Financial Measures” and reconciliation tables at the end of this release for additional information regarding the non-GAAP metrics and Key Performance Metrics used in this release. About Fiverr Fiverr’s mission is to transform the way the world creates and works together. We’re shaping the future of work with the world’s leading open platform, seamlessly connecting top talent and cutting-edge technology with businesses around the globe. From expert freelancers in over 750 skilled categories to best-in-class GenAI models and agents, Fiverr provides the most advanced and comprehensive talent and tools for digital services—helping businesses get mission-critical projects done fast and cost-effectively. From small businesses to Fortune 500 companies, millions trust Fiverr for projects in software and AI development, digital marketing, finance, business consulting, video animation, music, architecture, and more. Learn how to future-proof your business with exceptional talent and cutting-edge tools at fiverr.com. Follow us on LinkedIn, Instagram, TikTok, and Facebook. Investor Relations:Steve RubisEmily [email protected] Press:Jenny ChangMadeleine [email protected] Source: Fiverr International Ltd. Key Performance Metrics and Non-GAAP Financial Measures This release includes certain key performance metrics and financial measures not based on GAAP, including Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income (loss), non-GAAP net income (loss) per share, and free cash flow, as well as operating metrics, including marketplace Gross Merchandise Value or GMV, annual active buyers, annual spend per buyer and marketplace take rate. Some amounts in this release may not total due to rounding. All percentages have been calculated using unrounded amounts. We define each of our non-GAAP measures of financial performance, as the respective GAAP balances shown in the above tables, adjusted for, as applicable, depreciation and amortization, share-based compensation expenses, restructuring costs, impairment of intangible assets, earn-out revaluation, acquisition related costs and other, income taxes, amortization of discount and issuance costs of convertible note, financial (income) expenses, net and other. Amortization of acquired intangible assets is excluded from the measures, however, the revenue from the acquired companies is included, and their assets actively contribute to revenue generation. Non-GAAP gross margin represents non-GAAP gross profit expressed as a percentage of revenue. We define non-GAAP net income (loss) per share as non-GAAP net income (loss) divided by GAAP weighted-average number of ordinary shares basic and diluted. We use free cash flow as a liquidity measure and define it as net cash provided by operating activities less capital expenditures. We define Adjusted EBITDA margin as Adjusted EBITDA expressed as a percentage of revenue. We define GMV or marketplace Gross Merchandise Value as the total value of transactions ordered through our marketplace, excluding value-added tax, goods and services tax, service chargebacks and refunds. Annual active buyers on any given date is defined as buyers who have ordered a Gig on our marketplace within the last 12-month period, irrespective of cancellations. Annual spend per buyer on any given date is calculated by dividing our GMV within the last 12-month period by the number of annual active buyers as of such date. Marketplace take rate for a given period means marketplace revenue for such period divided by GMV for such period. When we refer in this release to the marketplace we refer to transactions conducted between buyers and freelancers on Fiverr.com. When we refer to the platform we refer to the marketplace and our additional services. Management and our board of directors use certain metrics as supplemental measures of our performance that are not required by, or presented in accordance with GAAP because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of items not directly resulting from our core operations. We also use these metrics for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives and capital expenditures and to evaluate our capacity to expand our business. In addition, we believe that free cash flow, which we use as a liquidity measure, is useful in evaluating our business because free cash flow reflects the cash surplus available or used to fund the expansion of our business after the payment of capital expenditures relating to the necessary components of ongoing operations. Capital expenditures consist primarily of property and equipment purchases and capitalized software costs. Free cash flow should not be used as an alternative to, or superior to, cash from operating activities. In addition, Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income (loss) and non-GAAP net income (loss) per share as well as operating metrics, including GMV, annual active buyers, annual spend per buyer and marketplace take rate should not be considered in isolation, as an alternative to, or superior to net income (loss), revenue, cash flows or other performance measures derived in accordance with GAAP. These metrics are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Management believes that the presentation of non-GAAP metrics is an appropriate measure of operating performance because they eliminate the impact of expenses that do not relate directly to the performance of our underlying business. These non-GAAP metrics should not be construed as an inference that our future results will be unaffected by unusual or other items. Additionally, Adjusted EBITDA and other non-GAAP metrics used herein are not intended to be a measure of free cash flow for management's discretionary use, as they do not reflect our tax payments and certain other cash costs that may recur in the future, including, among other things, cash requirements for costs to replace assets being depreciated and amortized. Management compensates for these limitations by relying on our GAAP results in addition to using Adjusted EBITDA and other non-GAAP metrics as supplemental measures of our performance. Our measures of Adjusted EBITDA, free cash flow and other non-GAAP metrics used herein are not necessarily comparable to similarly titled captions of other companies due to different methods of calculation. See the tables above regarding reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures. We are not able to provide a reconciliation of Adjusted EBITDA guidance to net income (loss), the nearest comparable GAAP measure, for the third quarter of 2026, or the fiscal year ending December 31, 2026, because certain items that are excluded from Adjusted EBITDA cannot be reasonably predicted or are not in our control. In particular, in the case of Adjusted EBITDA, we are unable to forecast the timing or magnitude of share based compensation, amortization of intangible assets, impairment of intangible assets, income or loss on revaluation of contingent consideration, other acquisition-related costs, convertible notes amortization of discount and issuance costs and exchange rate income or loss, as applicable without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, GAAP measures in the future. Forward Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our expected financial performance and operational performance including, our business plans and strategy, expected business transitions, and our ability to reposition toward higher-value work, our multi-quarter transformation, the timing, amount and execution of any share repurchases, the long term growth of our business, AI services and developments, future investments and investment strategy, our product portfolio, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: our recent reduction in force could adversely affect our business, results of operations and financial condition; AI developments may present challenges for our industry and reduce the demand for some of our service offerings; our ability to successfully implement our business plan within adverse economic conditions that may impact consumers, business spending and the demand for our services or have a material adverse impact on our business, financial condition and results of operations; our ability to attract and retain a large community of buyers and freelancers; our ability to generate sufficient revenue to maintain profitability or positive net cash flow generated by operating activities; our ability to maintain and enhance our brand; our dependence on the continued growth and expansion of the market for freelancers and the services they offer; our dependence on traffic to our websites; our ability to maintain user engagement on our websites and to maintain and improve the quality of our platform; our operations within a competitive market; political, economic and military instability in Israel, including related to the war in Israel; our ability and the ability of third parties to protect our users’ personal or other data from a security breach and to comply with laws and regulations relating to data privacy, data protection and cybersecurity; our ability to manage our current and potential future growth; our dependence on decisions and developments in the mobile device industry, over which we do not have control; our ability to detect errors, defects or disruptions in our platform; our ability to comply with the terms of underlying licenses of open source software components on our platform; our ability to expand into markets outside the United States and our ability to manage the business and economic risks of international expansion and operations; our ability to achieve desired operating margins; our ability to comply with a wide variety of U.S. and international laws and regulations, including with regulatory frameworks around the development and use of AI; our ability to attract, recruit, retain and develop qualified employees; our reliance on Amazon Web Services; our ability to mitigate payment and fraud risks; our dependence on relationships with payment partners, banks and disbursement partners; and the other important factors discussed under the caption “Risk Factors” in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 12, 2026, as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. In addition, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements that we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Online freelance marketplace Fiverr (NYSE:FVRR) missed Wall Street’s revenue expectations in Q2 CY2026, with sales falling 10% year on year to $97.78 million. Next quarter’s revenue guidance of $84 million underwhelmed, coming in 15.2% below analysts’ estimates. Its non-GAAP profit of $0.50 per share was 3.6% below analysts’ consensus estimates. Is now the time to buy Fiverr? Find out in our full research report. Revenue: $97.78 million vs analyst estimates of $99.47 million (10% year-on-year decline, 1.7% miss) Adjusted EPS: $0.50 vs analyst expectations of $0.52 (3.6% miss) Adjusted EBITDA: $17.52 million vs analyst estimates of $18.18 million (17.9% margin, 3.6% miss) The company dropped its revenue guidance for the full year to $364 million at the midpoint from $400 million, a 9% decrease EBITDA guidance for the full year is $57 million at the midpoint, below analyst estimates of $73.29 million Operating Margin: 4.5%, up from -1.8% in the same quarter last year Free Cash Flow Margin: 13.9%, down from 19.9% in the previous quarter Active Buyers: 2.7 million, down 700,000 year on year Market Capitalization: $416.7 million “What we’re seeing right now is an accelerated evolution of the freelance economy. Our second quarter results reflect a market that is changing faster than expected, driven by rapid AI adoption. As a result, we are focused on repositioning toward higher-value work. While AI absorbs high-volume, low-value, transactional tasks, it is also unlocking the need for longer duration projects where AI tools enhance human expertise, workflow management, and accountability,” said Micha Kaufman, founder and CEO of Fiverr. Based in Tel Aviv, Fiverr (NYSE:FVRR) operates a fixed price global freelance marketplace for digital services. Reviewing a company’s long-term sales performance reveals insights into its quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Regrettably, Fiverr’s sales grew at a tepid 6.8% compounded annual growth rate over the last three years. This fell short of our benchmark for the consumer internet sector and is a rough starting point for our analysis. This quarter, Fiverr missed Wall Street’s estimates and reported a rather uninspiring 10% year-on-year revenue decline, generating $97.78 million of revenue. Company management is currently guiding for a 22.2% year-on-year decline in sales next quarter. Looking further ahead, sell-side analysts expect revenue to decline by 4.5% over the next 12 months, a deceleration versus the last three years. This projection is underwhelming and implies its products and services will see some demand headwinds. ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable. These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE. As a gig economy marketplace, Fiverr generates revenue growth by expanding the number of services on its platform (e.g. rides, deliveries, freelance jobs) and raising the commission fee from each service provided. Fiverr struggled with new customer acquisition over the last two years as its active buyers have declined by 14% annually to 2.7 million in the latest quarter. This performance isn’t ideal because internet usage is secular, meaning there are typically unaddressed market opportunities. If Fiverr wants to accelerate growth, it likely needs to enhance the appeal of its current offerings or innovate with new products. In Q2, Fiverr’s active buyers once again decreased by 700,000, a 20.6% drop since last year. The quarterly print was lower than its two-year result, suggesting its new initiatives aren’t moving the needle for buyers yet. Average revenue per buyer (ARPB) is a critical metric to track because it measures how much the company earns in transaction fees from each buyer. This number also informs us about Fiverr’s take rate, which represents its pricing leverage over the ecosystem, or “cut” from each transaction. Fiverr’s ARPB growth has been exceptional over the last two years, averaging 23.4%. Although its active buyers shrank during this time, the company’s ability to successfully increase monetization demonstrates its platform’s value for existing buyers. This quarter, Fiverr’s ARPB clocked in at $36.22. It grew by 13.3% year on year, faster than its active buyers. We struggled to find many positives in these results. Its full-year revenue guidance missed and its full-year EBITDA guidance fell short of Wall Street’s estimates. Overall, this was a softer quarter. The stock traded up 1.2% to $11.73 immediately following the results. Is Fiverr an attractive investment opportunity right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free.

This article first appeared on GuruFocus. Release Date: July 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Fiverr International Ltd (NYSE:FVRR) is experiencing growth in high-value projects, with projects over $1000 growing 13% year over year. The company is focusing on high-value work, which now represents 15% of completed projects' gross order value. Fiverr International Ltd (NYSE:FVRR) is leveraging AI to enhance its platform, with significant increases in demand for AI-related services such as AI user-generated content video ads and AI mobile app development. The company is systematically upgrading its matching infrastructure, resulting in a 7% decrease in cancellation rates for dynamic matching. Fiverr International Ltd (NYSE:FVRR) is expanding its growth engines, with new customer conversion increasing by 8% due to targeted acquisition channels like TikTok campaigns. Fiverr International Ltd (NYSE:FVRR) reported a 10% year-over-year decline in revenue for the second quarter, primarily due to a decrease in low-value transactional work. The company is facing a noticeable deceleration in marketplace traffic and demand, which is expected to continue into the third quarter. There is a 22% year-over-year decline in active buyers, driven by the ongoing compression in low-value transactional work. Fiverr International Ltd (NYSE:FVRR) anticipates that the financial impact of its transformation will take at least six quarters to materialize. The company is experiencing margin pressure, with adjusted EBITDA down 18.3% year over year and a decline in services revenue growth. Warning! GuruFocus has detected 4 Warning Signs with FVRR. Is FVRR fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more details on the six-quarter transition period and the impact of recent LLM updates on your business? A: Mica Kauffman, CEO: The transition period is influenced by headwinds, particularly the integration of LLMs into client experiences, like Google's search. This integration affects traffic and demand, contributing to the transition timeline. We are a lean organization, moving quickly to adapt to these changes. Q: What steps can we look for in the transition to higher-value projects, and how is Fiverr's talent equipped to handle these projects? A: Mica Kauffman, CEO: We are enhancing our matching infrastructure and focusing on high-value work. Our talent pool is being refined to ensure we have the necessary skills for AI integration projects. We are also deploying new go-to-market strategies, like targeting TikTok merchants, to capture higher-value clients. Q: How are you managing costs and deploying AI internally to support the business transformation? A: SD Lydon, CFO: We are maintaining cost discipline, especially in marketing and discretionary spending, while protecting R&D investments crucial for transformation. Internally, we are deploying AI to improve transaction quality and customer experience, which will be scaled in the second half of the year. Q: Given the increasing sophistication of projects, are Fiverr's current services sufficient, or are new service channels needed? A: Mica Kauffman, CEO: We are rebuilding core functionalities and refining our platform to provide the best client experience. New tools are being developed to support this transformation, ensuring we meet the needs of high-value projects. Q: How are you addressing the decline in traffic and considering dynamic pricing to spur demand? A: Mica Kauffman, CEO: We are taking a multi-channel approach to marketing, investing in generative engine optimization, and exploring new advertising partnerships. Dynamic pricing is not a current focus, as we prioritize enhancing our platform and client experience. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes a 10% revenue decline to the rapid compression of high-volume, low-value transactional work as AI automates simple tasks. A noticeable deceleration in marketplace traffic and demand in late Q2 and early Q3 is linked to recent LLM updates and the integration of AI summaries into search engines like Google. The strategic focus has shifted to 'high-value' work (projects over $1,000), which currently represents 15% of gross order value and grew 13% year-over-year. Management is repositioning the platform from a transactional marketplace to an end-to-end work platform where human judgment orchestrates complex AI workflows. Operational metrics show strength in high-end segments, with programming and tech projects over $1,000 growing 34% year-over-year. The company is aggressively 'cleaning' the talent pool to remove low-skill supply and prioritize highly skilled professionals capable of multidisciplinary digital transformations. Fiverr is leveraging a proprietary knowledge graph and neural networks to reduce high-value order cancellations by improving matching precision. Management expects the financial impact of the current strategic transformation to require at least six quarters to fully materialize. Full-year 2026 revenue guidance was revised downward to a range of $356 million to $372 million, reflecting persistent traffic headwinds and AI-related demand shifts. The company assumes the recent deceleration in marketplace traffic will continue for the foreseeable future, impacting both marketplace and services revenue. Services revenue is expected to exit the year with a double-digit decline due to softening demand in influencer campaigns and seller tools like Fiverr Ads. Capital allocation will prioritize organic transformation and maintaining a strong balance sheet over aggressive M&A or immediate shareholder returns. Free cash flow for the full year is expected to be lower than the previous two years due to EBITDA pressure and transformation investments. The rise of 'Generative Engine Optimization' (GEO) is a new strategic priority to counter the decline in traditional SEO traffic caused by AI-integrated search. Internal restructuring has resulted in a leaner organization designed to move faster, though R&D spending is being protected to fund the platform pivot. A verified 91% precision rate in a new fulfillment layer is being used to monitor project health and mitigate friction in complex, long-duration engagements. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management explained that the timeline is primarily driven by the rate of compression in legacy skills versus the slower cycle of new skill creation and client adoption. The starting point for this six-quarter estimation is the current period (Q3 2026). Micha Kaufman noted that the integration of AI summaries into Google Search lowers the volume of traditional traffic as users get answers directly from the LLM. The company is seeing higher competition for paid placements as organic search real estate is squeezed by AI features. Management defended the freelancer model, stating that while AI automates tasks, businesses face a 'do-or-die' need for human experts to integrate complex agentic workflows. The 'execution gap' is widening as models get more powerful, increasing the need for skilled talent to orchestrate these tools into revenue-generating outcomes. CFO Esti Levy Dadon confirmed that marketing spend is being adjusted in real-time to match traffic trends while protecting R&D for the transformation. The company intends to remain profitable and cash-flow positive throughout the transition by maintaining a lean organizational structure.

Fiverr International Ltd. (NYSE:FVRR) shares tumbled nearly 17% in pre-market trading after the freelance marketplace reported weaker-than-expected second-quarter results and significantly lowered its financial outlook, citing growing pressure from artificial intelligence on parts of its business. The company missed Wall Street estimates on both earnings and revenue, while management warned that AI-related headwinds and softer customer demand had intensified during recent weeks and continued into the third quarter. Fiverr reported second-quarter revenue of $97.8 million, a decline of 10% from the same period a year earlier and below analysts’ expectations of approximately $99.8 million. Adjusted earnings came in at $0.50 per share, narrowly missing the consensus forecast of $0.52. The disappointing results were accompanied by a substantial reduction in the company’s full-year guidance, which weighed heavily on investor sentiment. Fiverr now expects full-year 2026 revenue to be between $356 million and $372 million, representing an annual decline of between 14% and 17%. The revised outlook marks a significant reduction from the previous forecast of $380 million to $420 million issued just three months earlier. Management attributed the weaker outlook to slowing traffic, softer demand linked to the growing adoption of artificial intelligence and continued weakness in categories most exposed to AI-driven automation. The company also forecast third-quarter revenue of between $80 million and $88 million, well below analysts’ expectations of around $99 million. The weakness was concentrated within Fiverr’s core marketplace business. Marketplace revenue declined 15.5% year over year to $63.1 million, while the number of annual active buyers fell 21.9% to 2.7 million. However, spending per buyer continued to increase, with annual spend rising 15.6% to $368. The marketplace take rate also improved to 28.0%. Fiverr said the number of customers completing projects valued at more than $1,000 increased 13% over the past 12 months, highlighting continued progress in shifting the platform toward larger, higher-value projects. Even so, analysts noted that growth in premium projects has not yet been sufficient to offset the decline in overall transaction volumes. Before the earnings release, several analysts had already reduced their price targets for the stock, pointing to slower expected growth, mounting AI-related pressure on lower-value freelance work and the company’s ongoing transition toward more complex, higher-value services. Following the results, Fiverr shares fell as low as $9.65 in pre-market trading, leaving the stock close to its 52-week low of $9.58. The combination of weaker-than-expected financial results, sharply reduced revenue guidance and management’s acknowledgement that AI is accelerating the decline in transactional work added to concerns about the company’s near-term growth prospects. While Fiverr continues to reposition its business toward larger projects and enterprise customers, investors are likely to remain focused on whether that strategy can offset the impact of declining activity across its traditional marketplace. Fiverr stock price

Fiverr International (FVRR) came out with quarterly earnings of $0.5 per share, missing the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.85%. A quarter ago, it was expected that this online marketplace for freelance services would post earnings of $0.63 per share when it actually produced earnings of $0.62, delivering a surprise of -1.59%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Fiverr, which belongs to the Zacks Internet - Commerce industry, posted revenues of $97.78 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 2.59%. This compares to year-ago revenues of $108.65 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Fiverr shares have lost about 41.4% since the beginning of the year versus the S&P 500's gain of 8.5%. While Fiverr has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Fiverr was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.52 on $99.41 million in revenues for the coming quarter and $2.19 on $403.86 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Commerce is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, MercadoLibre (MELI), has yet to report results for the quarter ended June 2026. This operator of an online marketplace and payments system in Latin America is expected to post quarterly earnings of $8.69 per share in its upcoming report, which represents a year-over-year change of -15.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. MercadoLibre's revenues are expected to be $9.77 billion, up 43.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fiverr International (FVRR) : Free Stock Analysis Report MercadoLibre, Inc. (MELI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research