FVRR - Fiverr stock flies higher on upbeat EBITDA forecast

Fiverr International ( NYSE: FVRR ) shares surged over 10% higher in premarket trading after posting stronger than expected Q4 profits and an above-consensus EBITDA forecast.

For the fourth quarter, an adjusted EPS report of $0.26 came in $0.08 above consensus expectations while revenue only narrowly missed analyst estimates. Active buyers on the platform grew to 4.3M, exceeding expectations by 100K. Adjusted EBITDA of $9.4M in the fourth quarter also exceeded the $7.69M consensus.

“With a shift in the macro environment and SMB spending sentiment, we quickly adjusted our business focus to drive efficiency, which is reflected in us delivering the most profitable quarter in the company’s history in terms of Adjusted EBITDA,” CEO Micha Kaufman said. “That said, our strategy and ambition to change the future of work remains unwavering. We have a strong roadmap for 2023 and we will execute with intensified focus and efficiency to become more profitable.”

For 2023, the company expects revenue to range from $350M to $365M, below the consensus of $365.87M. An adjusted EBITDA forecast of between $45M and $55M was well above the $37.1M consensus estimate. For the first quarter, adjusted EBITDA between $9M to $10.5M far exceeded the $5.83M analyst expectation.

Shares of the Israeli e-commerce company rose 10.78% in premarket trading.

Read more on the details of the quarter .

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