Cash flow Fiverr International Ltd.

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FVRR

IL0011582033

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11-05	Fiverr International Ltd. acquired Digis and Scalamandra from DIGIS Group in a transaction estimated value of $14 million.	CI
11-10	Fiverr International Ltd., Q3 2025 Earnings Call, Nov 05, 2025

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Published financial data: FIVERR INTERNATIONAL LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	190M	298M	337M	361M	391M
Total Revenues	190M	298M	337M	361M	391M
Cost of Goods Sold, Total	33.19M	51.72M	65.95M	61.85M	70.57M
Gross Profit	156M	246M	271M	300M	321M
Selling General & Admin Expenses, Total	122M	211M	238M	224M	246M
R&D Expenses	45.72M	79.3M	92.56M	90.72M	90.24M
Other Operating Expenses, Total	168M	290M	331M	315M	336M
Operating Income	-11.41M	-44.34M	-59.15M	-15.11M	-15.34M
Interest Expense, Total	-4.04M	-20.03M	-2.53M	-2.54M	-2.56M
Interest And Investment Income	1.87M	1.92M	6.48M	22.42M	26.5M
Net Interest Expenses	-2.17M	-18.11M	3.95M	19.88M	23.95M
Currency Exchange Gains (Loss)	-262K	-1.27M	1.14M	131K	-859K
Other Non Operating Income (Expenses)	-369K	-134K	-1.47M	150K	-138K
EBT, Excl. Unusual Items	-14.21M	-63.86M	-55.53M	5.05M	7.61M
Merger & Related Restructuring Charges	-	-510K	-	-	-476K
Gain (Loss) On Sale Of Investments	-	-	-	-	4.75M
Asset Writedown	-	-	-27.63M	-	-
Other Unusual Items	-398K	-487K	12.25M	-	-
EBT, Incl. Unusual Items	-14.61M	-64.85M	-70.91M	5.05M	11.89M
Income Tax Expense	200K	159K	577K	1.37M	-6.36M
Earnings From Continuing Operations	-14.81M	-65.01M	-71.49M	3.68M	18.25M
Net Income to Company	-14.81M	-65.01M	-71.49M	3.68M	18.25M
Net Income - (IS)	-14.81M	-65.01M	-71.49M	3.68M	18.25M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	-14.81M	-65.01M	-71.49M	3.68M	18.25M
Net Income to Common Excl. Extra Items	-14.81M	-65.01M	-71.49M	3.68M	18.25M
Per Share Items
Net EPS - Basic	-0.46	-1.81	-1.94	0.1	0.49
Basic EPS - Continuing Operations	-0.46	-1.81	-1.94	0.1	0.49
Basic Weighted Average Shares Outstanding	32.32M	35.96M	36.86M	38.07M	36.98M
Net EPS - Diluted	-0.46	-1.81	-1.94	0.09	0.48
Diluted EPS - Continuing Operations	-0.46	-1.81	-1.94	0.09	0.48
Diluted Weighted Average Shares Outstanding	32.32M	35.96M	36.86M	39.15M	37.84M
Normalized Basic EPS	-0.27	-1.11	-0.94	0.08	0.13
Normalized Diluted EPS	-0.27	-1.11	-0.94	0.08	0.13
American Depositary Receipts Ratio (ADR)	0.05	0.05	0.05	0.05	0.05
Supplemental Items
EBITDA	-7.07M	-37.47M	-48.97M	-9.12M	-4.87M
EBITA	-8.28M	-39.21M	-51M	-11M	-6.64M
EBIT	-11.41M	-44.34M	-59.15M	-15.11M	-15.34M
EBITDAR	-4.4M	-34.78M	-46.07M	-7.44M	-1.89M
Effective Tax Rate - (Ratio)	-1.37	-0.25	-0.81	27.17	-53.48
Total Current Taxes	-	-	-	-	10.27M
Total Deferred Taxes	-	-	-	-	-16.63M
Normalized Net Income	-8.88M	-39.91M	-34.71M	3.16M	4.76M
Non-Cash Pension Expense	3.08M	4.55M	4.57M	4.73M	5.04M
Supplemental Operating Expense Items
Advertising Expense	68.54M	109M	120M	113M	122M
Selling and Marketing Expenses	94.38M	159M	175M	161M	172M
General and Administrative Expenses	27.64M	51.62M	63.41M	62.71M	74.34M
Research And Development Expense From Footnotes	45.72M	79.3M	92.56M	90.72M	90.24M
Net Rental Expense, Total	2.68M	2.69M	2.9M	1.68M	2.98M
Imputed Operating Lease Interest Expense	461K	1.13M	138K	74K	132K
Imputed Operating Lease Depreciation	2.22M	1.55M	2.76M	1.61M	2.85M
Stock-Based Comp., COGS (Total)	384K	1.44M	2.52M	2.5M	2.14M
Stock-Based Comp., R&D Exp. (Total)	5.84M	20.01M	23.83M	24.31M	23.57M
Stock-Based Comp., S&M Exp. (Total)	3.08M	14.11M	17.2M	13.3M	13.59M
Stock-Based Comp., G&A Exp. (Total)	6.5M	19.86M	28.21M	28.59M	34.64M
Total Stock-Based Compensation	15.82M	55.41M	71.76M	68.7M	73.94M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	268M	71.15M	86.75M	184M	133M
Short Term Investments	219M	252M	375M	234M	434M
Total Cash And Short Term Investments	487M	323M	462M	417M	567M
Accounts Receivable, Total	-	-	-	-	16.28M
Other Receivables	5.42M	14.25M	18.96M	23.25M	6.7M
Total Receivables	5.42M	14.25M	18.96M	23.25M	22.97M
Prepaid Expenses	-	-	-	-	3.69M
Restricted Cash	-	2.92M	1.14M	-	-
Other Current Assets, Total	98.33M	128M	143M	154M	162M
Total Current Assets	591M	468M	625M	594M	756M
Gross Property Plant And Equipment	26.12M	23.99M	22.34M	20.66M	19.99M
Accumulated Depreciation	-4.24M	-5.71M	-7.6M	-9.2M	-10.6M
Net Property Plant And Equipment	21.88M	18.28M	14.74M	11.46M	9.39M
Long-term Investments	228M	318M	190M	328M	122M
Goodwill	11.24M	77.27M	77.27M	77.27M	110M
Other Intangibles, Total	5.88M	49.22M	14.77M	10.72M	41.88M
Deferred Tax Assets Long-Term	-	-	-	-	22.52M
Other Long-Term Assets, Total	3M	1.06M	1.96M	1.35M	7.87M
Total Assets	861M	932M	924M	1.02B	1.07B
Liabilities
Accounts Payable, Total	3.62M	8.7M	8.63M	5.49M	5.53M
Accrued Expenses, Total	27.75M	40.29M	39.56M	43.62M	52.92M
Current Portion of Long-Term Debt	560K	2.27M	-	-	458M
Current Portion of Leases	3.31M	3.06M	2.76M	2.57M	2.61M
Unearned Revenue Current, Total	5.96M	12.14M	11.35M	11.05M	20.09M
Other Current Liabilities	105M	123M	135M	143M	146M
Total Current Liabilities	146M	189M	197M	205M	685M
Long-Term Debt	354M	372M	453M	455M	-
Long-Term Leases	13.86M	10.48M	6.65M	4.48M	2.75M
Deferred Tax Liability Non Current	-	-	-	1.8M	3.82M
Other Non Current Liabilities	1.89M	13.1M	1.56M	813K	15.81M
Total Liabilities	516M	585M	658M	668M	707M
Common Stock, Total	-	-	-	-	-
Additional Paid In Capital	517M	586M	566M	641M	727M
Retained Earnings	-173M	-238M	-288M	-284M	-366M
Comprehensive Income and Other	532K	-1.1M	-12.06M	-714K	1.67M
Total Common Equity	345M	347M	266M	356M	363M
Total Equity	345M	347M	266M	356M	363M
Total Liabilities And Equity	861M	932M	924M	1.02B	1.07B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	35.84M	36.8M	37.76M	38.7M	35.91M
ECS Total Common Shares Outstanding	35.84M	36.76M	37.54M	38.65M	35.84M
Book Value / Share	9.64	9.44	7.08	9.2	10.12
Tangible Book Value	328M	220M	174M	268M	211M
Tangible Book Value Per Share	9.16	5.99	4.63	6.93	5.87
Total Debt	372M	388M	462M	462M	463M
Net Debt	-344M	-253M	-190M	-283M	-226M
Debt Equivalent Oper. Leases	21.42M	21.51M	23.21M	13.46M	23.84M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	4.68M	6.08M	6.99M	7.58M	8.44M
Full Time Employees	545	787	739	775	762

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-14.81M	-65.01M	-71.49M	3.68M	18.25M
Depreciation & Amortization - CF	1.21M	1.74M	2.03M	1.88M	1.78M
Amortization of Goodwill and Intangible Assets - (CF)	3.13M	5.14M	8.15M	4.11M	8.7M
Depreciation & Amortization, Total	4.34M	6.88M	10.18M	5.99M	10.48M
Amortization of Deferred Charges, Total - (CF)	4.04M	20.03M	2.53M	2.54M	2.56M
(Gain) Loss From Sale Of Asset	-	-13K	-26K	-	-
(Gain) Loss on Sale of Investments - (CF)	1.09M	7.9M	6.38M	-730K	-4.75M
Asset Writedown & Restructuring Costs	-	-	27.63M	211K	-
Stock-Based Compensation (CF)	15.82M	55.41M	71.76M	68.7M	73.94M
Other Operating Activities, Total	-1.08M	242K	31K	71K	3.43M
Change In Accounts Receivable	-1.78M	-6.24M	-4.85M	-2.88M	-18.32M
Change In Accounts Payable	-127K	4.67M	-113K	-3.2M	-409K
Change in Unearned Revenues	2.68M	4.12M	-792K	-306K	2.28M
Change in Other Net Operating Assets	6.96M	10.06M	-11.14M	9.1M	-4.38M
Cash from Operations	17.14M	38.04M	30.11M	83.19M	83.07M
Capital Expenditure	-2.09M	-1.68M	-1.2M	-1.05M	-1.3M
Cash Acquisitions	-	-97.08M	-	-	-39.74M
Sale (Purchase) of Intangible assets	-1.94M	-894K	-1.18M	-60K	-1.21M
Investment in Marketable and Equity Securities, Total	-322M	-130M	-11M	10.89M	13.73M
Other Investing Activities, Total	107K	-	-1.25M	-	-300K
Cash from Investing	-326M	-229M	-14.62M	9.78M	-28.82M
Long-Term Debt Issued, Total	447M	-	-	-	-
Total Debt Issued	447M	-	-	-	-
Long-Term Debt Repaid, Total	-524K	-599K	-2.27M	-	-3.99M
Total Debt Repaid	-524K	-599K	-2.27M	-	-3.99M
Issuance of Common Stock	139M	8.29M	3.76M	2.76M	4.21M
Repurchase of Common Stock	-	-8.99M	-2.03M	-	-100M
Other Financing Activities, Total	-33.97M	-1.1M	-1.1M	87K	-4.36M
Cash from Financing	552M	-2.4M	-1.64M	2.85M	-104M
Foreign Exchange Rate Adjustments	1.27M	-130K	-32K	-29K	-230K
Net Change in Cash	244M	-194M	13.82M	95.78M	-50.2M
Supplemental Items
Cash Interest Paid	115K	107K	246K	145K	118K
Cash Income Tax Paid (Refund)	-	78K	235K	589K	5.73M
Levered Free Cash Flow	26.7M	40.05M	35.91M	59.67M	83.18M
Unlevered Free Cash Flow	25.19M	32.54M	34.96M	58.71M	82.23M
Change In Net Working Capital	-16.2M	-549K	7.64M	5.42M	-9.91M
Net Debt Issued / Repaid	447M	-599K	-2.27M	-	-3.99M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-1.3	-3.09	-3.99	-0.97	-0.92
Return on Total Capital	-1.64	-3.82	-5.06	-1.22	-1.17
Return On Equity %	-5.99	-18.78	-23.34	1.18	5.08
Return on Common Equity	-5.99	-18.78	-23.34	1.18	5.08
Margin Analysis
Gross Profit Margin %	82.49	82.62	80.45	82.89	81.97
SG&A Margin	64.38	70.88	70.55	61.96	62.84
EBITDA Margin %	-3.73	-12.59	-14.52	-2.52	-1.24
EBITA Margin %	-4.37	-13.17	-15.12	-3.04	-1.7
EBIT Margin %	-6.02	-14.9	-17.53	-4.18	-3.92
Income From Continuing Operations Margin %	-7.81	-21.84	-21.19	1.02	4.66
Net Income Margin %	-7.81	-21.84	-21.19	1.02	4.66
Net Avail. For Common Margin %	-7.81	-21.84	-21.19	1.02	4.66
Normalized Net Income Margin	-4.69	-13.41	-10.29	0.87	1.22
Levered Free Cash Flow Margin	14.09	13.46	10.64	16.51	21.25
Unlevered Free Cash Flow Margin	13.29	10.93	10.36	16.25	21
Asset Turnover
Asset Turnover	0.35	0.33	0.36	0.37	0.37
Fixed Assets Turnover	13.94	14.82	20.43	27.59	37.56
Receivables Turnover (Average Receivables)	-	-	-	-	26.53
Short Term Liquidity
Current Ratio	4.05	2.48	3.17	2.89	1.1
Quick Ratio	3.38	1.79	2.44	2.14	0.86
Operating Cash Flow to Current Liabilities	0.12	0.2	0.15	0.4	0.12
Days Sales Outstanding (Average Receivables)	-	-	-	-	13.79
Average Days Payable Outstanding	40.64	43.47	47.95	41.68	28.6
Long Term Solvency
Total Debt/Equity	107.67	111.82	173.92	129.96	127.73
Total Debt / Total Capital	51.85	52.79	63.49	56.51	56.09
LT Debt/Equity	106.55	110.29	172.89	129.24	0.76
Long-Term Debt / Total Capital	51.31	52.07	63.11	56.2	0.33
Total Liabilities / Total Assets	59.89	62.77	71.23	65.24	66.11
EBIT / Interest Expense	-2.83	-2.21	-23.41	-5.95	-6
EBITDA / Interest Expense	-1.09	-1.74	-18.23	-2.93	-0.74
(EBITDA - Capex) / Interest Expense	-1.61	-1.82	-18.7	-3.34	-1.25
Total Debt / EBITDA	-84.58	-11.15	-10.03	-62.15	-245.61
Net Debt / EBITDA	78.13	7.27	4.12	38.09	119.86
Total Debt / (EBITDA - Capex)	-57.3	-10.64	-9.78	-54.45	-145.25
Net Debt / (EBITDA - Capex)	52.93	6.94	4.01	33.37	70.89
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	76.99	57.07	13.34	7.12	8.33
Gross Profit, 1 Yr. Growth %	84.24	57.33	10.36	10.36	7.14
EBITDA, 1 Yr. Growth %	-77.18	401.43	29.02	-75.16	-46.66
EBITA, 1 Yr. Growth %	-74.05	351.73	28.49	-71.61	-39.61
EBIT, 1 Yr. Growth %	-66.99	275.47	31.95	-67.79	1.54
Earnings From Cont. Operations, 1 Yr. Growth %	-55.84	338.97	9.96	-105.15	395.68
Net Income, 1 Yr. Growth %	-55.84	338.97	9.96	-105.15	395.68
Normalized Net Income, 1 Yr. Growth %	-57.19	337.07	-13.7	-111.68	76.02
Diluted EPS Before Extra, 1 Yr. Growth %	-72.51	294.64	7.27	-104.64	433.34
Accounts Receivable, 1 Yr. Growth %	-	-	-	-	23.03
Net Property, Plant and Equip., 1 Yr. Growth %	311.13	-16.43	-19.39	-22.27	-18
Total Assets, 1 Yr. Growth %	264.36	8.17	-0.83	10.8	4.53
Tangible Book Value, 1 Yr. Growth %	151.78	-32.87	-21.18	54.17	-21.37
Common Equity, 1 Yr. Growth %	132.11	0.42	-23.39	33.88	1.93
Cash From Operations, 1 Yr. Growth %	-222.88	121.98	-20.84	176.26	-0.14
Capital Expenditures, 1 Yr. Growth %	106.1	-19.58	-28.86	-12.1	23.74
Levered Free Cash Flow, 1 Yr. Growth %	-2.11K	51.4	-9.66	36.96	39.42
Unlevered Free Cash Flow, 1 Yr. Growth %	-1.99K	30.47	8.45	37.77	40.05
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	58.43	66.73	33.42	10.18	7.72
Gross Profit, 2 Yr. CAGR %	61.57	70.25	31.77	10.36	8.74
EBITDA, 2 Yr. CAGR %	-54.53	9.94	156	-50.98	-63.6
EBITA, 2 Yr. CAGR %	-51.39	10.83	142.41	-47.35	-58.59
EBIT, 2 Yr. CAGR %	-44.06	13.26	123.8	-41.95	-42.81
Earnings From Cont. Operations, 2 Yr. CAGR %	-35.91	39.23	119.7	-76.2	-49.48
Net Income, 2 Yr. CAGR %	-35.91	39.23	119.7	-76.2	-49.48
Normalized Net Income, 2 Yr. CAGR %	-37.22	38.69	94.96	-71.97	-54.58
Diluted EPS Before Extra, 2 Yr. CAGR %	-70.94	4.16	105.75	-77.7	-50.26
Net Property, Plant and Equip., 2 Yr. CAGR %	106.24	85.36	-17.92	-20.84	-20.16
Total Assets, 2 Yr. CAGR %	178.5	98.53	3.57	4.82	7.62
Tangible Book Value, 2 Yr. CAGR %	160.09	30.01	-27.26	10.23	10.1
Common Equity, 2 Yr. CAGR %	152.97	52.67	-12.29	1.28	16.82
Cash From Operations, 2 Yr. CAGR %	-42.42	65.16	32.56	47.88	66.09
Capital Expenditures, 2 Yr. CAGR %	65.23	28.74	-24.36	-20.92	4.29
Levered Free Cash Flow, 2 Yr. CAGR %	-17.8	448.47	16.5	22.52	38.18
Unlevered Free Cash Flow, 2 Yr. CAGR %	-20.16	394.37	18.39	34.96	38.91
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	53.78	57.97	46.6	24.01	9.56
Gross Profit, 3 Yr. CAGR %	59.19	60.14	47.34	24.21	9.28
EBITDA, 3 Yr. CAGR %	-27.33	3.07	16.47	6.88	-49.58
EBITA, 3 Yr. CAGR %	-24.41	3.82	16.91	8.22	-44.89
EBIT, 3 Yr. CAGR %	-16.39	6.73	19.61	8.56	-30.05
Earnings From Cont. Operations, 3 Yr. CAGR %	-8.49	21.71	28.69	-37.13	-34.53
Net Income, 3 Yr. CAGR %	-8.49	21.71	28.69	-37.13	-34.53
Normalized Net Income, 3 Yr. CAGR %	-9.27	20.98	18.71	-29.8	-50.91
Diluted EPS Before Extra, 3 Yr. CAGR %	-46.79	-30.66	5.19	-41.87	-35.75
Net Property, Plant and Equip., 3 Yr. CAGR %	60.71	52.62	40.43	-19.4	-19.91
Total Assets, 3 Yr. CAGR %	131.1	103.2	57.52	5.93	4.73
Tangible Book Value, 3 Yr. CAGR %	148.54	65.6	10.03	-6.56	-1.51
Common Equity, 3 Yr. CAGR %	146.36	85.92	21.32	0.99	1.49
Cash From Operations, 3 Yr. CAGR %	48.21	-9.71	29.26	69.33	29.74
Capital Expenditures, 3 Yr. CAGR %	-1.6	29.97	5.65	-20.48	-8.19
Levered Free Cash Flow, 3 Yr. CAGR %	-	0.45	199.89	31.14	27.91
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-6.27	197.23	33.03	36.63
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	45.29	36.77	29.6
Gross Profit, 5 Yr. CAGR %	-	-	47.6	37.98	30.48
EBITDA, 5 Yr. CAGR %	-	-	21.58	-23.23	-30.95
EBITA, 5 Yr. CAGR %	-	-	21.61	-20.68	-26.94
EBIT, 5 Yr. CAGR %	-	-	24.82	-16.16	-15
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	29.9	-36.64	-11.46
Net Income, 5 Yr. CAGR %	-	-	29.9	-36.64	-11.46
Normalized Net Income, 5 Yr. CAGR %	-	-	23.88	-32.5	-25.51
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-8.6	-55.95	-22.04
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	22.83	17.37	12.04
Total Assets, 5 Yr. CAGR %	-	-	67.64	55.93	35.26
Tangible Book Value, 5 Yr. CAGR %	-	-	52.03	40.72	10.06
Common Equity, 5 Yr. CAGR %	-	-	62.99	45.81	19.5
Cash From Operations, 5 Yr. CAGR %	-	-	41.74	9.99	42.89
Capital Expenditures, 5 Yr. CAGR %	-	-	-11.43	6.54	5.1
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	8.59	128.64
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	8.24	128.11