Highlights 

  • Q3 2025 revenue totaled USD 107.9M, up 8.3% year-over-year. 
  • Services revenue increased 39.6% to USD 34.3M versus Q3 2024. 
  • Adjusted EBITDA reached USD 24.2M, with a quarterly margin of 22.4%. 

Fiverr International Ltd. (NYSE:FVRR) reported its third-quarter financial results for 2025, recording total revenue of USD 107.9M, up from USD 99.6M in Q3 2024, representing an 8.3% increase year-over-year. Marketplace revenue declined slightly to USD 73.6M from USD 75.1M in Q3 2024. Annual active buyers totaled 3.3 million, down 11.7% from 3.7 million a year earlier, while annual spend per buyer rose 11.7% to USD 330. Marketplace take rate for the twelve months ended September 30, 2025, was 27.6%, down 20 basis points from the previous year. 

Services revenue reached USD 34.3M, a 39.6% increase from Q3 2024, driven by growth in Fiverr Go and Seller Plus adoption, which expanded more than 20% year-over-year. Fiverr Ads also posted double-digit growth as it integrated into the Fiverr Pro catalog, while AutoDS contributed through partnership and operational synergies. 

Profitability and Cash Flow 

GAAP gross margin increased to 81.7% from 81.0% in Q3 2024, while non-GAAP gross margin improved slightly to 84.2%. GAAP net income was USD 5.5M, or USD 0.15 per share, compared to USD 1.4M, or USD 0.04 per share, in the same quarter last year. Non-GAAP net income reached USD 30.5M, or USD 0.84 basic non-GAAP net income per share, versus USD 24.6M, or USD 0.69 per share, in Q3 2024. 

Operating cash flow increased to USD 29.2M, up 168.8% from USD 10.9M in Q3 2024. Free cash flow rose to USD 29.1M, a 175.4% increase year-over-year. Adjusted EBITDA was USD 24.2M, with a margin of 22.4%, improving 270 basis points from 19.7% in Q3 2024. 

Management Commentary 

Micha Kaufman, founder and CEO, stated: 
"With AI continuing to run through every facet of the business, our commitment to driving AI transformation and re-accelerating GMV growth is as focused as ever… Our intentional investments are already allowing us to capture higher-value client projects." 

Ofer Katz, President and CFO, added: 
"We delivered another strong quarter, with solid execution across both revenue and profitability… Adjusted EBITDA and margin were our highest-ever for a quarter, highlighting scalability in our marketplace." 

Outlook 

Fiverr anticipates Q4 2025 revenue between USD 104.3M and USD 112.3M, reflecting 1–8% year-over-year growth, with adjusted EBITDA expected between USD 23.9M and USD 27.9M. Full-year 2025 revenue guidance is USD 428–436M, with adjusted EBITDA projected at USD 88–93M.