Fiverr International Ltd. Q1 FY2026 earnings call

Micha Kaufmann mentioned Q1 was a solid quarter with revenue and adjusted EBITDA at the high end of guidance. The company is in the early stages of a multi-year transformation to reposition from a transaction-oriented marketplace to a trusted work platform for complex high-value outcomes. This includes strengthening the high-end talent flywheel, investing in matching infrastructure, evolving into a comprehensive work platform, expanding go-to-market capabilities, and improving execution across the organization. Early signals show projects over $1,000 growing, mismatch rates down in Fiverr Pro, and moves towards an end-to-end fulfillment layer

Q1 was a solid quarter with revenue at 105.5 million, down 1.6% year-over-year. Marketplace revenue was 67.1 million, driven by 2.9 million active buyers, $356 spend per buyer, and a 27.7% marketplace take rate. Projects over $1,000 grew 18% year over year. Service revenue was 38.4 million, up 30% year-over-year, accounting for 36% of total revenue

Full-year 2026 revenue expected 380 - 420 million, down 12% - 3% y-o-y. Adjusted EBITDA expected 64 - 80 million. Q2 2026 revenue expected 95 - 103 million, adjusted EBITDA expected 16 - 20 million

Q: Eric from Goldman Sachs asked about transformation duration and partners in go-to-market strategy.

A: Transformation is ongoing, results expected in second half of the year. Partners focus on human in the loop where skilled talent networks are needed.

Q: Jason Heifstein asked about AI agents and new business creation.

A: Agents need human judgment, new business creation has signal-to-noise issue but experts still needed.

Q: Ron Jose asked about attracting talent and matching mismatch.

A: Focus on meta skills and deep matching, mismatch reduction is about better customer-talent fit.

Q: Bernie McEwen asked about matching mismatch details and AutoDS pull forward.

A: No specific baseline mismatch rates shared, AutoDS had strong influencer campaign pulling revenue forward.

Q: Doug Anmuth asked about hiring AI-native personnel and EBITDA margin.

A: Hiring AI-native personnel is ongoing, EBITDA margin guide reflects transformation investment.

Q: Brad Erickson asked about adjusting economics and marketing intensity.

A: No immediate pricing adjustments, marketing will scale with growth of high-value customer profile.

Q: Matt Condon asked about green shoots and comprehensive work platform.

A: Transformation is in early stages focusing on infrastructure, end-to-end platform includes fulfilling layer.

Q: Josh Chan asked about target customers and free cash flow.

A: Target customers are SMBs, Q1 free cash flow is sustainable, buyback will be thoughtful with authorization of 59.5 million