Fiverr reports 2021 revenue of nearly $300 million, beats Wall Street estimates
Freelancer platform Fiverr released its Q4 figures on Thursday, showing a 43% year over year revenue growth.
The company reported a revenue of $79.8 million for Q4 alongside a non-GAAP EPS of $0.22. The figures beat Wall Street estimates of a $0.13 EPS and a revenue of $77 million.
Active buyers grew to 4.2 million, compared to 3.4 million seen during the same quarter last year. Spend per buyer reached a high of $242 compared to the $205 seen in December 2020.
For the entire year, revenue was $297.7 million, an increase of 57% year over year. Non-GAAP net income in 2021 was $0.68
The company acquired freelancer management platform Stoke Talent for $95 million in November as a way to expand its offerings to provide more tools to larger businesses.
"Our growth has been exceptional over the last two years at 178%, and our fourth quarter alone saw an increase in revenue of 43% year over year to $79.8 million," said Ofer Katz, Fiverr's president and CFO. "Fiverr continues to see growth across all metrics with predictable cohort behavior, giving us confidence to provide strong guidance for the year ahead."
Fiverr, along with other freelancer platforms like Upwork, has seen a massive uptick in users and spending due to the newfound reliance on remote work that emerged due to the COVID-19 pandemic.
In March 2021, Fiverr announced that it would expand its offerings to include data and analytics, and overall, the company told shareholders it had expanded from eight to now 25 different verticals. The newest vertical will offer users access to freelance experts in data science, analytics, data processing, visualization, databases, and data entry.
The company is now expecting to bring in between $85 million and $87 million in revenue for Q1. For the full fiscal year, Fiverr is predicting a revenue between $373 million and $379 million.
"We live in a dynamic and ever evolving work environment in which the world has embraced the vision Fiverr had 12 years ago. This vision continues to drive our innovation and product roadmap as we lead the labor market transformation for customers on both sides of our marketplace," said Micha Kaufman, founder and CEO of Fiverr.
"Our perpetual focus on our community and improving our platform has allowed us to deliver a strong finish to 2021 and exceptional retention trends. As we continue to build on our strategy we are confident in the relevance, value and resilience of our business."