Thread by @stonkmetal

I'm a $FVRR bull and I like how the premarket is reacting.

Let's digest Q3 earnings in a short 🧵👇

Starting off with a sucessstory of german eCommerce company Westwing integrating Fiverr Business into their Design workflow permanently after trying it out.

I like the emphasis on Fiverr Business at the start of the presentation. Going for that $UPWK marketshare 😏

Strong growth metrics across the board:

Revenue up 42% compared to a strong Covid Q3
Active Buyers up 33%
Spend per Buyer up 20%
Already impressive Take rate improving by another 140bps

High gross margin of 83%
180 bps Adjusted EBITDA Margin improvement

Great!

Q3 Highlights:
Stoke Talent and CreativeLive aquisitions to improve freelancers experience in the multichannel freelancing strategy.

Fiverr Workspace launched to help freelancers manage all aspects of their business

New brand campaigns

First ever ESG report

Full year guidance increased!
Revenue 5% increase projected
Adjusted EBITDA 60% (!) increased bottomline

That being said, They pretty much went back to the Full year guidance prior to the lowered guidance in Q2.

As suspected in Q2, management was just being cautious.

$FVRR emphasizing their long term strategy of being THE platform for freelancers to be at.
With Stoke they want to allow freelancers to manage their offline gigs and gigs on other platforms.

Get them into the ecosystem now and eventually the money will come in.

Very important metric. Buyer retention. The lifetime value of a customer keeps increasing.
Repeat buyers made up 58% of revenue, up 3 pp from 20 (55%).

Spend per buyer is up 20% to $234. High value buyers (>$500) contribute 62% of revenue.

The flywheel keeps accelerating

Once again highlighting the Stoke Talent aquisition. Get a foot into the door with bigger customers and offline freelancers and eventually convert them ( or sell them software solutions)

Subscriptions are gaining traction with over 50000 gigs having a subscription option. This recurring revenue will increase the life time value of a buyer substantially, as seen by 20% of subscription orders being 6+months.

Some remarks about marketing and growing the community.

$FVRR sees pandemic trends like eCommerce channels and 3D illustrations with continues strong growth. Digital transformation is not a Covid only thing, it's here to stay!

Something I like to see as a $SPOT shareholder: Fast innovation iterations. 55 new product features got released in Q3 with a focus on personalization to make the user experience better and keep people coming for more.

$FVRR is looking to break the language barrier by pushing translation services.
Already showing 10% improved results on the spanish website.

Love to see these stairs. #Flywheel

Operating expenses/revenue trending down. The business is scaling up and becoming more efficient.

To summarize: I'm a very happy owner of $FVRR with these results. The flywheel keeps accelerating, take rates keep improving and the ecosystem keeps expanding.

Congratulations on the quarter @fiverr @michakaufman

LONG $FVRR

If you liked my thread consider liking, RT and following me. Tagging some #fintwitt people that might be interested @Couch_Investor @FromValue @SamLikesStocks @MaxTheComrade @arhamgrowthcap @ayeshatariq @InvestingPlug @Invesquotes @jablamsky