Fiverr International Ltd. · NYSE:FVRR
Fiverr International — Q3 2025 Earnings Presentation
40 slides from Fiverr International's earnings presentation, Nov 5, 2025
Slide 1: Company Presentation November 2025
fiverr. Company Presentation November 2025 fa brighid > Brand Designer maT A "fal Lo Q Ineed a freelance SEO expert )~ >, 5 »\
Slide 2: Disclaimer
Disclaimer You must read the following before continuing. The following applies to this presentation, the oral presentation of this information in this document by Fiverr International Ltd. (“Fiverr” or the “Company”) or any person on behalf of the Company, and any question-and-answer session that f
Slide 3: Investment in AI drives long-term upside in the business
Investment in AI drives long-term upside in the business Fiverr Go is a first-of-its-kind GenAI platform to redefine how talent and businesses connect and collaborate. Personal Creation Model Based on each individual sellersʼ portfolio, providing seller full control over their creative assets. Link
Slide 4: Investment highlights
Investment 1 Leading Freelancing Platform to Drive highlights. the Future of Work 2 Our Unique E-commerce Approach and Robust Business Solutions Suite 3 Powerful Business Model with Multiple Growth Levers 4 Strong Balance Sheet and Cash Generation with Consistent Capital Allocation Strategy ©2025 Fi
Slide 5: Leading Freelancing Platform to Drive the Future of Work
Leading Freelancing Platform to Drive the Future of Work
Slide 6: Our mission is to change how the world works together
Our mission is to change how the world works together. Founded IPO Today $107.1M $391.5M Revenue Revenue 16.8% 19.0% Adjusted EBITDA Margin1 Adjusted EBITDA Margin1 $293.5M $1.1B GMV1 GMV1 2010 2019 2024 1 This is a non-GAAP financial measure or Key Performance Metric. See “Key Performance Metri
Slide 7: From marketplace to an AI-powered work platform
As we’ve scaled, we have grown from a marketplace to an AI-powered work platform. One-of-a-Kind Breadth of AI-powered Marketplace Service Offerings Work Platform Connecting global freelancers with We offer a range of services From Neo, Dynamic Matching to businesses through an expansive including ad
Slide 8: The world is changing and the way people work is changing with it
Traditional Future workplace of work The world is Long-term employment Experience building and freelancing changing and the Work from the office Work from anywhere (nomads, co-working) way people work Local teams Global & remote teams is changing with it. Work offline Work digitally, leveraging coll
Slide 9: Large market opportunity
Large market opportunity. Creative Technical Estimated Income for U.S. Independent Skilled Professional Creative, Technical, and Professional Services Freelance Economic Impact Report 14% $247B 48% U.S. Addressable Market 38% C - Motion Picture and Video Industries, Sound Recording Industries, Photo
Slide 10: Freelancing is still an old-school business
Freelancing is still an old-school business. Just like e-commerce in 1994, freelancing activity is gradually migrating to the online world. Online The majority of freelancing still happens offline. Source: Staffing Industry Analysts (SIA), McKinsey, US Census of Bureau ©2025 Fiverr Int. Ltd. All Rig
Slide 11: High friction in traditional freelancing business
High friction in traditional freelancing business. Every stage of the process has traditionally been disconnected, with little consistency from person to person. From finding To collaboration To reference To negotiating Buyers The right talent and support and trust the deal during transaction From f
Slide 12: Our Unique E-commerce Approach and Robust Business Solutions Suite
Our Unique E-commerce Approach and Robust Business Solutions Suite
Slide 13: Our unique e-commerce approach to Service-as-a-Product model
Service-as-a-Product model To buy and sell digital services as simple as buying on Amazon with a comprehensive SKU-like service catalog. On-demand Our unique No hiring process. No long-term commitment. e-commerce Getting businesses help when they need it. approach to End-to-end platform freelancing.
Slide 14: Cost effectiveness compared to traditional staffing
We bring a Staffing company Fiverr competitive edge to Short/long term temporary employment Service-as-a-product SaaP customers with Bidding, vetting and contract negotiation Browse, search, click to order speed, agility and Opaque and non-standardized Transparent timing, price cost effectiveness
Slide 15: Two-sided marketplace creates growth and earnings flywheel effects
More Quality Demand Our two-sided Cross Better category opportunities marketplace creates powerful Higher LTV Increase Seller Higher growth & earnings flywheel effects. spend per buyer retention More Quality Supply ©2025 Fiverr Int. Ltd. All Rights Reserved. Proprietary & Confidential. 15
Slide 16: Fiverr Pro drives upmarket adoption
Fiverr Pro drives upmarket adoption through a suite of premium business offerings ©2025 Fiverr Int. Ltd. All Rights Reserved. Proprietary & Confidential. 16
Slide 17: Businesses, large and small, rely on Fiverr for mission-critical needs
Businesses, large and small, rely on Fiverr for mission-critical needs Nathan Liu, Buyer Julie Kimpel, Buyer Head of Deployments PolyAI Chief Marketing and PR Officer MDLifespan London, United Kingdom Chicago, IL “Fiverr Pro is integral to making PolyAI voice assistants as “ To any marketer that nee
Slide 18: Our value to buyers and sellers
Our value to buyers Our value to sellers Transparency and certainty of price, scope No bidding / negotiation to win projects of work and quality and speed Maximize deal-flow Value for money Flexibility and control Access to an expansive catalog of digital services Frictionless payment and business s
Slide 19: Powerful Business model with Multiple Growth Levers
Powerful Business model with Multiple Growth Levers
Slide 20: Strategic priorities to drive double-digit revenue growth in 2025
Strategic priorities to drive double-digit revenue growth in 2025 $ in millions) 13% 7% 8% 911% Going Upmarket y/y y/y y/y y/y Expand Services Investment in AI ©2025 Fiverr Int. Ltd. All Rights Reserved. Proprietary & Confidential. 20
Slide 21: Powerful marketplace model to capture long-term growth opportunities
Powerful marketplace model to capture long-term growth opportunities. Industry-Leading Expanding Consistent Take Rate Wallet Share Cohort Behavior Marketplace take rate Spend per Buyer $ Revenue breakdown by annual cohort ©2025 Fiverr Int. Ltd. All Rights Reserved. Proprietary & Confidential. 21
Slide 22: Expansion of value-added services as key revenue growth driver
Expansion of value-added services as key revenue growth driver Fiverr Ads Seller Plus AutoDS CPC-based advertising platform Seller subscriptions providing access SaaS software platform that that allows sellers to promote to advanced analytics, AI tools and provides end-to-end dropshipping their serv
Slide 23: Strong Balance Sheet and Cash Generation with Consistent Capital Allocation Strategy
Strong Balance Sheet and Cash Generation with Consistent Capital Allocation Strategy
Slide 24: Continued improvement in operating leverage
Adjusted EBITDA Margin1 Continued improvement in operating leverage 1 This is a non-GAAP financial measure or Key Performance Metric. See “Key Performance Metrics and Non-GAAP Financial Measuresˮ and reconciliation tables at the end of this presentation for additional information. ©2025 Fiverr Int
Slide 25: On track toward 3-year financial targets
Driving sustainable Adjusted EBITDA and cash flow growth On track toward 3-year financial targets 25% $300M 14% Adjusted EBITDA Cumulative Free Cash Free Cash Flow margin1 2026 Flow 20252027 CAGR 20242027 1 This is a non-GAAP financial measure or Key Performance Metric. See “Key Performance
Slide 26: Disciplined and consistent capital allocation strategy
Disciplined and consistent capital allocation strategy Invest in Optimize Capital Stock M&A Growth Structure Repurchase Growth is our top priority Continue to manage with Execute equity buyback as Take a disciplined business with discipline an ongoing tool to return approach to M&A while Invest in s
Slide 27: Appendix
Appendix ©2025 Fiverr Int. Ltd. All Rights Reserved. Proprietary & Confidential. 27
Slide 28: Key Performance Metrics and Non-GAAP Financial Measures
Key Performance Metrics and Non-GAAP Financial Measures This presentation, and the accompanying oral presentation, may include certain financial measures and key performance measures, not presented in accordance with the generally accepted accounting principles in the United States (“GAAP”), includin
Slide 29: Balance sheet GAAP 1/2
Balance sheet GAAP In $ thousands September 30 December 31 2025 2024 1/2 Unaudited) Audited) Assets Current assets: Cash and cash equivalents $ 559,661 $ 133,472 Marketable securities 152,809 288,947 User funds 168,291 153,309 Bank deposits 39,000 144,843 Restricted deposit 1,502 1,315 Other recei
Slide 30: Balance sheet GAAP 2/2
Balance sheet GAAP In $ thousands September 30 December 31 2025 2024 2/2 Unaudited) Audited) Liabilities and Shareholders' Equity Current liabilities: Trade payables $ 4,873 $ 5,533 User accounts 155,704 141,691 Deferred revenue 19,624 20,090 Other account payables and accrued expenses 74,643 57,1
Slide 31: P&L GAAP
P&L GAAP Three Months Ended Nine Months Ended In $ thousands, except loss per share data September 30 September 30 2025 2024 2025 2024 Unaudited) Unaudited) Revenue $ 107,903 $ 99,628 $ 323,735 $ 287,815 Cost of revenue 19,766 18,893 60,546 50,365 Gross profit 88,137 80,735 263,189 237,450 Operati
Slide 32: Cash flow GAAP 1/2
Cash flow GAAP Three Months Ended Nine Months Ended In $ thousands September 30 September 30 2025 2024 2025 2024 1/2 Unaudited) Unaudited) Cash flows from operating activities: Net income $ 5,537 $ 1,353 $ 9,523 $ 5,408 Adjustments to reconcile net income to net cash provided by operating activiti
Slide 33: Cash flow GAAP 2/2
Cash flow GAAP Three Months Ended Nine Months Ended In $ thousands September 30 September 30 2025 2024 2025 2024 2/2 Unaudited) Unaudited) Investing Activities: Investment in marketable securities - - 55,652 30,734 Proceeds from maturities of marketable securities 136,505 25,258 316,776 133,85
Slide 34: Revenue breakdown
REVENUE BREAKDOWN Three Months Ended Nine Months Ended (in thousands1) September 30 September 30 2025 2024 2025 2024 Unaudited) Unaudited) Marketplace Revenue $ 73,592 $ 75,056 $ 225,955 $ 229,558 Annual Active Buyers 3,297 3,733 3,297 3,733 Annual Spend per Buyer $ 330 $ 295 $ 330 $ 295 Marketpla
Slide 35: Reconciliation of GAAP to non-GAAP gross profit
RECONCILIATION OF GAAP TO NONGAAP GROSS PROFIT In thousands, except gross margin data) Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 FY 23 FY 24 Unaudited) Audited) Audited) GAAP gross profit $ 80,735 $ 83,465 $ 86,788 $ 88,264 $ 88,137 $ 299,529 $ 320,915 Add: Share-based compensation 514 445 423 403 365 2,49
Slide 36: Reconciliation of GAAP net income to non-GAAP net income and net income per share
RECONCILIATION OF GAAP NET INCOME TO NONGAAP NET INCOME AND NET INCOME PER SHARE In thousands, except gross margin data) Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 FY 23 FY 24 Unaudited) Audited) Audited) GAAP net income attributable to ordinary shareholders $ 1,353 $ 12,838 $ 798 $ 3,188 $ 5,537 $ 3,681 $
Slide 37: Reconciliation of GAAP net income to Adjusted EBITDA
RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA In thousands, except gross margin data) Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 FY 23 FY 24 Unaudited) Audited) Audited) GAAP net income $ 1,353 $ 12,838 $ 798 $ 3,188 $ 5,537 $ 3,681 $ 18,246 Add: Financial expenses (income), net 6,881 5,662 7,325
Slide 38: Reconciliation of GAAP to non-GAAP operating expenses
RECONCILIATION OF GAAP TO NONGAAP OPERATING EXPENSES In thousands) Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 FY 23 FY 24 Unaudited) Audited) Audited) GAAP research and development $ 22,424 $ 22,329 $ 23,627 $ 23,994 $ 25,150 $ 90,720 $ 90,241 Less: Share-based compensation 5,273 5,563 4,730 4,129 3,229 24,
Slide 39: Reconciliation of net cash from operating activities to free cash flow
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW In thousands) Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 FY 23 FY 24 Unaudited) Audited) Audited) Net cash provided by operating activities $ 10,867 $ 30,034 $ 28,309 $ 25,204 $ 29,206 $ 83,186 $ 83,068 Purchase of property and equ
Slide 40: Thank you
Thank you fiverr