Fiverr Raises 2026 EBITDA Guidance as Services Revenue Jumps 30%
Fiverr’s Q1 2026 revenue reached $105.5 million, slightly below last year, while services revenue surged 30% to $38.4 million and high-value $1,000+ projects saw 18% client growth. The company exceeded EBITDA guidance midpoints, upped full-year Adjusted EBITDA outlook and cut mismatch rates by 10% through platform enhancements.
1. Q1 Financial Performance
Revenue in Q1 2026 was $105.5 million, down 1.6% year-over-year, driven by a 13.6% decline in marketplace revenue to $67.1 million as annual active buyers fell to 2.9 million. Annual spend per buyer rose 15.4% to $356.
2. High-Value Projects and Services Growth
Services revenue climbed 30% year-over-year to $38.4 million, supported by an 18% increase in clients completing projects over $1,000 and an expanding talent pool for these engagements.
3. Margin and Profitability
GAAP gross margin improved 110 basis points to 82.1%, while non-GAAP margin rose to 84.8%. GAAP net income reached $8.6 million, or $0.23 per share, and non-GAAP net income was $22.9 million, with net cash from operations of $21.2 million.
4. Guidance Update and Platform Transformation
The company reiterated full-year revenue guidance and raised Adjusted EBITDA outlook, highlighting disciplined execution in its multi-year shift to a comprehensive work platform, including matching improvements that cut mismatch rates by nearly 10%.