Fiverr International
FVRRNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $8.20 Prior regular-session close from the quote source.
- $7.80–$8.18 Regular-session low and high so far today.
- 1.1M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $7.80–$22.70 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own FVRR if its packaged freelance marketplace stays relevant in an AI-disrupted services market while the platform’s high gross margin and cash generation continue turning modest growth into per-share value.
FVRR price history
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Investment thesis
What must happen next
Fiverr’s packaged, searchable marketplace remains a valuable demand aggregator for small-business digital projects even as AI changes how work is produced.StrengtheningMateriality: High
GAAP annual revenue increased from $337.4 million in FY2022 to $430.9 million in FY2025. If this holds, transaction demand can keep compounding; if it breaks, Fiverr becomes a fee layer on work buyers can source or automate elsewhere.
Watch: OpenAI, Adobe Firefly, Canva, and similar generative-AI tools automate a large share of logo design, copywriting, translation, and other simple project categories buyers historically outsourced.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $337.4 million in FY2022 to $430.9 million in FY2025.
Open source ↗Fiverr’s marketplace model retains enough pricing power and transaction control that sellers’ labor costs do not collapse the company’s gross margin.StrengtheningMateriality: High
GAAP annual gross profit was $351.5 million in FY2025 on $430.9 million of revenue, implying an 81.6% GAAP gross margin. Durable gross margin is the proof that Fiverr is a platform with monetization power, not a low-margin staffing intermediary.
Watch: Upwork or other freelance networks cut fees or offer better economics to sellers and buyers, forcing Fiverr to lower its take rate.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit was $351.5 million in FY2025 on $430.9 million of revenue, implying an 81.6% GAAP gross margin.
Open source ↗Fiverr can turn marketplace scale into GAAP operating profit because product, support, and marketing costs do not need to rise as fast as gross profit.HoldingMateriality: Medium
GAAP annual operating loss narrowed from $74.5 million in FY2022 to $1.2 million in FY2025. The equity needs operating leverage; otherwise Fiverr remains a high-gross-margin business whose economics are consumed by customer acquisition and product spending.
Watch: Fiverr must materially increase paid marketing to replace organic traffic lost to Google search changes, social platforms, or competing marketplaces.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating loss narrowed from $74.5 million in FY2022 to $1.2 million in FY2025.
Open source ↗Fiverr’s asset-light marketplace economics continue to produce operating cash flow, giving the company room to invest through AI disruption without relying on external financing.StrengtheningMateriality: Medium
GAAP annual operating cash flow was positive in each served year from FY2022 through FY2025. Positive cash generation gives management strategic flexibility; if cash conversion fails, the company’s ability to defend the marketplace becomes more constrained.
Watch: Working-capital benefits reverse if marketplace payment timing, refunds, or escrow dynamics move against Fiverr.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow was positive in each served year from FY2022 through FY2025.
Open source ↗Per-share value creation depends on management keeping dilution, stock-based compensation, and capital allocation from absorbing the cash profits generated by the marketplace.HoldingMateriality: Medium
GAAP diluted EPS improved from negative $1.94 in FY2022 to positive $0.56 in FY2025. Owners only benefit if platform cash flow shows up in diluted EPS or share count discipline, not just in company-level revenue and gross profit.
Watch: Stock-based compensation or equity grants rise enough that diluted share count offsets operating progress.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP diluted EPS improved from negative $1.94 in FY2022 to positive $0.56 in FY2025.
Open source ↗
Full investment case & evidence
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Original research
Fiverr’s packaged, searchable marketplace remains a valuable demand aggregator for small-business digital projects even as AI changes how work is produced. If this holds, transaction demand can keep compounding; if it breaks, Fiverr becomes a fee layer on work buyers can source or automate elsewhere.
Fiverr’s marketplace model retains enough pricing power and transaction control that sellers’ labor costs do not collapse the company’s gross margin. Durable gross margin is the proof that Fiverr is a platform with monetization power, not a low-margin staffing intermediary.
Fiverr can turn marketplace scale into GAAP operating profit because product, support, and marketing costs do not need to rise as fast as gross profit. The equity needs operating leverage; otherwise Fiverr remains a high-gross-margin business whose economics are consumed by customer acquisition and product spending.
Fiverr’s asset-light marketplace economics continue to produce operating cash flow, giving the company room to invest through AI disruption without relying on external financing. Positive cash generation gives management strategic flexibility; if cash conversion fails, the company’s ability to defend the marketplace becomes more constrained.
Per-share value creation depends on management keeping dilution, stock-based compensation, and capital allocation from absorbing the cash profits generated by the marketplace. Owners only benefit if platform cash flow shows up in diluted EPS or share count discipline, not just in company-level revenue and gross profit.
All standing thesis claims
Original report summary
its packaged freelance marketplace stays relevant in an AI-disrupted services market while the platform’s high gross margin and cash generation continue turning modest growth into per-share value.
Bull case and bear case
Bull case and bear case for Fiverr International
Where the evidence on Fiverr International stands: Holding on the latest evidence (Nov 7, 2026). Of its 5 thesis points, 3 strengthening and 2 holding.
Bull case: what the evidence supports
Fiverr’s packaged, searchable marketplace remains a valuable demand aggregator for small-business digital projects even as AI changes how work is produced.
Fiverr’s marketplace model retains enough pricing power and transaction control that sellers’ labor costs do not collapse the company’s gross margin.
Fiverr can turn marketplace scale into GAAP operating profit because product, support, and marketing costs do not need to rise as fast as gross profit.
Fiverr’s asset-light marketplace economics continue to produce operating cash flow, giving the company room to invest through AI disruption without relying on external financing.
Per-share value creation depends on management keeping dilution, stock-based compensation, and capital allocation from absorbing the cash profits generated by the marketplace.
Bear case: what would count against it
OpenAI, Adobe Firefly, Canva, and similar generative-AI tools automate a large share of logo design, copywriting, translation, and other simple project categories buyers historically outsourced.
Upwork or other freelance networks cut fees or offer better economics to sellers and buyers, forcing Fiverr to lower its take rate.
Fiverr must materially increase paid marketing to replace organic traffic lost to Google search changes, social platforms, or competing marketplaces.
Thesis-Break Engine
Thesis-break watch · Fiverr International
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedForeign issuer material report (6-K).
Fiverr International filed an SEC report on 2026-10-29: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
Fiverr International filed an SEC report on 2026-07-29: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
Fiverr International filed an SEC report on 2026-04-29: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- OpenAI, Adobe Firefly, Canva, and similar generative-AI tools automate a large share of logo design, copywriting, translation, and other simple project categories buyers historically outsourced.
- Upwork or other freelance networks cut fees or offer better economics to sellers and buyers, forcing Fiverr to lower its take rate.
- Fiverr must materially increase paid marketing to replace organic traffic lost to Google search changes, social platforms, or competing marketplaces.
- Working-capital benefits reverse if marketplace payment timing, refunds, or escrow dynamics move against Fiverr.
- Stock-based compensation or equity grants rise enough that diluted share count offsets operating progress.
FVRR news
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Financial statements
FVRR income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
FVRR: quick answers
- Have members of Congress traded FVRR?
- 3 trades in FVRR have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed FVRR trade
- Which well-known investors own FVRR?
- 1 of the 37 well-known funds tracked here reported FVRR shares in their latest 13F filing. By share of the fund's portfolio: ARK Investment Management (Cathie Wood), 0.0%. Fund portfolios
FVRR in well-known investors’ portfolios
1 of 37 funds reported FVRR shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Cathie WoodARK Investment Management | 0.01% | $2.1M | +57.6% | Q2 2026 |