Fiverr International Ltd. (NYSE: FVRR) is slated to report third quarter 2019 earnings results on Wednesday, November 13, before the opening bell. Analysts estimate the company will report a loss of $0.19 per share on revenue of $26 million.
Fiverr, an online freelancing platform, went public in June at an issue price of $21. The company has consistently seen healthy revenue growth as well as increases in active buyers and spend per buyer over the past year. This momentum is likely to be visible in the third quarter as well.
Fiverr’s introduction of new stores for the ecommerce industry as well as for architects and designers will bode well for the company. The firm is anticipated to benefit from the rising gig economy which is expected to see rapid growth in the coming years. Fiverr also rolled out gaming services to benefit from the popularity of this industry.
Fiverr is focusing on international expansion and the company is seeing significant growth in Germany. The firm is also rolling out additional payment options for international buyers. However, the company’s lack of profitability and its low-price business model are causes for concerns.
In the second quarter of 2019, Fiverr reported a 41% growth in revenues to $25.9 million, surpassing Wall Street estimates. Adjusted net loss came in narrower than expected at $0.19 per share from $0.25 per share a year ago. Both active buyers and spend per buyer saw double-digit growth in the quarter.
Fiverr has guided for revenue growth of 30-35% in the third quarter while for the full year of 2019, the company expects an increase of 34-37% in revenue.
Fiverr’s shares have gained over 6% in the past one month. The stock was slightly down in afternoon hours on Monday.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,