Fiverr (FVRR) investor relations material

Industry trends and strategic positioning

• AI is transforming the freelance marketplace, elevating the complexity and strategic nature of human work while automating simpler tasks.

• Matching talent is becoming more complex, prompting investment in tech infrastructure and product experience.

• Unique transaction data and business model provide a competitive edge in understanding work scope and skills.

• Focus is shifting from broad, consumer-centric jobs to high-end, complex projects and buyers.

• SMB spending remains a headwind due to macroeconomic factors like inflation and oil prices.

Investment priorities and transformation

• 2026 is positioned as a transformational year with significant investments in matching infrastructure, product experience, and go-to-market strategies.

• Key pillars include dynamic matching, core search improvements, and enhanced collaboration tools.

• Go-to-market efforts are expanding to include account-based marketing and targeted campaigns for larger projects.

• Talent-led, industry-led, and partner-led growth engines are being developed, with talent engagement expected to have the most immediate impact.

• Fulfillment layer investments aim to increase trust, quality, and data granularity for better matching and workflow integration.

Financial outlook and performance

• Complex projects over $1,000 now represent 15% of GMV and are growing double digits, while simple jobs are less of a strategic focus.

• Services revenue saw a temporary boost from a successful e-commerce campaign but is expected to moderate for the rest of the year.

• Take rates remain consistent across project complexity levels.

• EBITDA margins are expected to decline short-term due to investments, but the long-term target remains at 25%.

• Capital allocation prioritizes transformation, with ongoing buybacks and opportunistic M&A aligned to strategic goals.