Fiverr International Ltd. (NYSE:FVRR) Q3 2023 Earnings Conference Call November 9, 2023 8:30 AM ET

Company Participants

Brian Lan - Investor Relations Manager

Micha Kaufman - Founder and Chief Executive Officer

Ofer Katz - President and Chief Financial Officer

Conference Call Participants

Ron Josey - Citi

Doug Anmuth - JPMorgan

Jason Helfstein - Oppenheimer

Eric Sheridan - Goldman Sachs

Matt Farrell - Piper Sandler

Kunal Madhukar - UBS

Andrew Boone - JMP Securities

Marvin Fong - BTIG

Rohit Kulkarni - ROTH MKM

Operator

Good day, and thank you for standing by. Welcome to the Fiverr Q3 Fiscal 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Brian Lan, Investor Relations Manager. Please go ahead.

Brian Lan

Thank you, operator, and good morning, everyone. Thank you for joining us on Fiverr's earnings conference call for the third quarter that ended September 30, 2023.

Joining me on the call today are Micha Kaufman, Founder and CEO, and Ofer Katz, President and CFO.

Before we start, I would like to remind you that during this call, we may make forward-looking statements and that these statements are based on our current expectations and assumptions as of today, and Fiverr assumes no obligation to update or revise them. A discussion of some of the important risk factors that could cause actual results to differ materially from any forward-looking statements can be found under the Risk Factors section in Fiverr's most recent Form 20-F and other filings with the SEC.

During this call, we'll be referring to some key performance metrics and non-GAAP financial measures, including adjusted EBITDA and adjusted EBITDA margin. Further explanation and a reconciliation of each of the non-GAAP financial measures to the most directly comparable GAAP measures is provided in the earnings release we issued today and our shareholder letter, each of which is available on our website at investors.fiverr.com.

And now, I will turn the call over to Micha.

Micha Kaufman

Thank you, Brian. Good morning, everyone, and thank you for joining us.

Q3 was another strong quarter as we continued to accelerate our revenue growth and drive EBITDA margin expansion. Both revenue and adjusted EBITDA came at the top-end of our guidance range. A number of factors drove the strong performance. The cohorts in our core marketplace continue to stabilize from the COVID growth spikes and our push upmarket has allowed us to grow spend per buyer at a strong pace. Finally, healthy growth in our value-added services contributed to our take rate of over 31%.