Revenue rose 81.9% in the second quarter at online talent marketplace Fiverr International Ltd. (NYSE: FVRR) amid Covid-19 as more people began looking at remote work. The number of active buyers grew by 28% year over year to 2.8 million, and the company noted spend per buyer rose 18% year over year to $184.
“The revenue growth is the strongest we have ever seen since 2012,” CFO Ofer Katz said. “We benefited from the global trends towards remote work and digital transformation, but more importantly, the strategies that we put in place and the strong execution of those strategies is what allowed us to capitalize on the tailwinds.”
| (US$ thousands) | Q2 2020 | Q2 2019 | % change |
| Revenue | $47,130 | $25,912 | 81.9% |
| Gross profit | $39,173 | $20,607 | 90.1% |
| Gross margin | 83.1% | 79.5% | |
| Net loss/income | ($124) | ($9,353) | nm |
CEO Micha Kaufman said, “we have delivered an outstanding quarter of results as our strong execution amidst the Covid-19 pandemic resulted in 82% year over year growth in revenue and adjusted EBITDA profitability.”
Guidance
Fiverr forecast revenue will rise between 72% and 76% in the third quarter to between $48.0 million and $49.0 million.
Share price and market cap
Shares in Fiverr were up 14.25% to $119.07 as of 12:04 p.m. Eastern time. Shares set a 52-week high during the trading session when they reached $124.80 at one point. The company had a market cap of $3.66 billion.