Q4 2025 Fiverr International Ltd Earnings Call Transcript
Key Points
- Fiverr International Ltd (FVRR) reported a 10% revenue growth in 2025, accelerating from 8% in 2024.
- Adjusted EBITA reached $92 million, up 23% year over year, with a 21% margin.
- Spend per buyer increased by 13% year over year, indicating higher engagement and value per customer.
- Projects over $1000 grew by 23%, reflecting a shift towards higher-value transactions.
- Fiverr is making foundational investments in AI and data infrastructure to transform into a fully AI-native talent platform, positioning for future growth.
- There is broad softness in SMB sentiment and muted freelancer hiring demand, impacting marketplace revenue.
- Fiverr is deprioritizing low-end transactions, which currently represent a majority of the marketplace, potentially leading to short-term revenue volatility.
- The company expects a 200 basis point impact on adjusted EBITA in 2026 due to investments in transformational initiatives.
- Fiverr anticipates elevated uncertainty and volatility in marketplace revenue throughout 2026.
- The restructuring and focus on high-value work may lead to a temporary decline in revenue as the company transitions its business model.
Good morning, everyone.
Thank you for joining us on Fiverr's earnings conference call for the 4th quarter that ended December 31, 2025.
Joining me on the call today are Mika Kaufman, founder and CEO, and Offar Katz, President and 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 Pfiver 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 fiber's most recent Form 20 and other filings with the SEC.
During this call, we'll be referring to some key performance metrics and non-GAAP financial measures, including adjusted EBITA margin, and free cash flow. Further explanation and the reconciliation of each of the non-GAAP financial measures to the most directly comparable GAAP measures is provided in the earnings release we issued today and
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