Fiverr (FVRR) Q1 Earnings Report Preview: What To Look For

Anthony Lee /
2024/05/08 3:03 am EDT

Online freelance marketplace Fiverr (NYSE:FVRR) will be announcing earnings results tomorrow before market open. Here's what you need to know.

Fiverr missed analysts' revenue expectations by 1.1% last quarter, reporting revenues of $91.5 million, up 10.1% year on year. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a decline in its buyers. It reported 4.1 million active buyers, down 4.7% year on year.

Is Fiverr a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Fiverr's revenue to grow 5.1% year on year to $92.47 million, improving from the 1.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.45 per share.

Fiverr Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fiverr has missed Wall Street's revenue estimates four times over the last two years.

Looking at Fiverr's peers in the gig economy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. DoorDash delivered year-on-year revenue growth of 23.5%, beating analysts' expectations by 2.5%, and Angi reported a revenue decline of 22.2%, topping estimates by 2.5%. DoorDash traded down 10.3% following the results.

Read our full analysis of DoorDash's results here and Angi's results here.

Investors in the gig economy segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. Fiverr is up 4.6% during the same time and is heading into earnings with an average analyst price target of $30.9 (compared to the current share price of $20.98).

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