Online talent platform Fiverr International Ltd. (NYSE: FVRR) revenue rose 100.1% year over year in the first quarter.
“We continue to capitalize and execute on the ongoing digital transformation as we delivered one of the strongest quarters in Fiverr’s history with outstanding results across the board, supported by continued execution on our strategy,” founder and CEO Micha Kaufman said.
| (US$ thousands) | Q1 2021 | Q1 2020 | % change |
| Revenue | $68,320 | $34,150 | 100.1% |
| Gross profit | $56,774 | $27,330 | 107.7% |
| Gross margin | 83.1% | 80.0% | |
| Net loss | ($17,844) | ($6,155) | nm |
The number of active buyers on Fiverr’s platform rose 56% year over year to $3.8 million in the first quarter. Spend per buyer rose to $216, up from $177 in the first quarter of last year.
Guidance
Fiverr forecast second-quarter revenue of between $73.0 million and $75.0 million, a year-over-year increase of between 55% and 59%.
The company also upgraded its forecast for full-year 2021 growth to between 59% and 63%, up from between 46% and 50%.
Share price and market cap
Shares in Fiverr were down 1.84% to $180.49 as of 11:44 a.m. Eastern time; they were 323.09% above their 52-week low set May 20, 2020, according to FT.com. The company had a market cap of $6.59 billion.