Fiverr International Ltd. (NYSE:FVRR) Q1 2024 Earnings Call Transcript May 9, 2024 8:30 AM ET

Company Participants

Jinjin Qian - Executive Vice President, Strategic Finance
Micha Kaufman - Co-Founder, Chief Executive Officer and Director
Ofer Katz - President and Chief Financial Officer

Conference Call Participants

Ronald Josey - Citi
Douglas Anmuth - JPMorgan
Andrew Boone - JMP Securities
Jason Helfstein - Oppenheimer & Co.
Matt Farrell - Piper Sandler
Eric Sheridan - Goldman Sachs
Stefanos Crist - Needham & Company
Rohit Kulkarni - ROTH MKM
Marvin Fong - BTIG

Operator

Good day, and thank you for standing by. Welcome to the Fiverr Q1 Fiscal 2021 Earnings Conference Call. At this time, all participants are in a listen-only. 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, Jinjin Qian.

Jinjin Qian

Thank you, operator, and good morning, everyone. Thank you for joining us on Fiverr's earnings conference call for the first quarter that ended March 31, 2024. 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, Jinjin. Good morning, everyone, and thank you for joining us. We kicked off 2024 with a strong set of results. Both revenue and adjusted EBITDA for Q1 exceeded expectations, driven by strong execution across the marketplace and Fiverr Business Solutions. We continue to evolve our platform to accommodate not only small businesses fulfilling small tasks, but also larger wallet customers purchasing more complex and larger ticket-sized services. The strategy is working particularly well amid the current macro environment, as we remain efficient and disciplined with our top-of-funnel investments, while leaning into product and innovation to drive wallet share expansion.