Overview
Fiverr International Ltd (NYSE:FVRR) posted second‑quarter 2026 results that missed consensus estimates and lowered its full‑year outlook, citing accelerated AI‑driven demand shifts that are eroding lower‑value transactional work on its marketplace.
Financial Performance
Adjusted earnings per share were $0.50, below the $0.52 consensus estimate. Revenue totaled $97.8 million, short of the $99.81 million forecast and representing a 10.0% year‑on‑year decline from $108.6 million in Q2 2025. Marketplace revenue fell 15.5% YoY to $63.1 million, while services revenue grew 2.0% YoY to $34.6 million.
Guidance and Outlook
For the third quarter, Fiverr projects revenue between $80 million and $88 million, with a midpoint of $84 million, well under the $99.26 million consensus estimate. The full‑year 2026 revenue guidance was cut to a range of $356 million‑$372 million, midpoint $364 million, versus the prior consensus of $402.1 million. Adjusted EBITDA for Q3 is expected to be $8 million‑$12 million, and full‑year adjusted EBITDA is projected at $52 million‑$62 million.
Marketplace Metrics
Annual active buyers declined 21.9% YoY to 2.7 million as of 30 June 2026. Despite the drop in buyer count, average spend per buyer rose 15.6% to $368, indicating a shift toward higher‑value projects. The proportion of projects exceeding $1,000 increased 13% YoY on a trailing twelve‑month basis.
Liquidity
Free cash flow for the quarter was $13.6 million. The company ended the period with $308.5 million in cash, cash equivalents, deposits and marketable securities.
Management Commentary
CEO and founder Micha Kaufman said the company is witnessing an accelerated evolution of the freelance economy driven by rapid AI adoption, prompting a strategic repositioning toward higher‑value work.