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Fiverr International (NYSE:FVRR) reported total revenue for the year-ended 31 December 2023 [FY2023] of $361m, up 7.1% from $337m in the previous year [FY2022].
Annual growth in Revenue
| Year-ended | 31 December [FY/2023] | 31 December [FY/2022] |
| Revenue, $ Million | 361 | 337 |
| Growth in Revenue % | 7.1 | 13.3 |
| Net Profit, $ Million | 3.7 | -71.5 |
| EPS | 10.0c | $-1.94 |
Major changes compared with previous year (FY2023 vs FY2022):
Favourable Changes:
- Total revenue up 7.1% from $337.4m to $361.4m
- Sales and marketing expenses to Revenues down from 51.8% to 44.6%
- Cost of Goods Sold to Revenues down from 19.5% to 17.1%
- Debt to Equity down 24.6% from 1.7 to 1.3
- Total non-current assets to Total Assets up from 32.3% to 41.9%
- Long-term investments to Total Assets up from 20.5% to 32.1%
Unfavourable Changes:
- Administration expenses to Revenues up from 15.2% to 17.4%
- Working capital to total assets down from 46.3% to 38.0%
- Current ratio down 8.8% from 3.2 to 2.9
- Total current assets to Total Assets down from 67.7% to 58.1%
- Total Liabilities to EBITDA of 132.1 compares unfavourably with the Joseph Piotroski benchmark of <5
- Total Liabilities to Operating Cash Flow of 8.0 compares unfavourably with the Joseph Piotroski benchmark of <4. However, it has improved by 63.2% from the previous year's ratio of 21.9.
Note:
- Total revenue to total assets steady at 0.4
- Total liabilities to Total assets steady at 0.7
- Short-term investments to Total Assets down from 40.6% to 23%
- Intangibles to Total Assets down from 10.9% to 9.3%
Annual...