Fiverr International Ltd. (NYSE:FVRR) Q1 2024 Earnings Call Transcript

Marvin Fong: Hi, great. Good morning. Thanks for taking my question. Just one for me. I didn’t want to actually talk about EBITDA a little closer here, just specific to this year. So a very strong performance in the first quarter, above the top end of your guide. I think you reiterated the top end and raised the lower end of EBITDA guidance for the year, but just curious what was sort of the thought — what’s your view of EBITDA margins for the balance of the year? Was there — being conservative is understandable in this environment, but is there any moving parts we should be aware of? Do you kind of plan to increase some OpEx items or anything along those lines? Just any additional color on how we should think about EBITDA for the rest of the year would be great. Thanks.

Ofer Katz: Hi, Marvin. I think that given the macro continue to be challenged, we are very prudent in our guidance. We haven’t changed anything on the baseline assumption from the beginning of the year other than being more confident in our ability to deliver. So during this kind of period, the way we manage the business is very careful, balancing between growth and keeping the healthiest of the business, and I think you can see the outcome. The plan for the remainder of the year is to continue to invest in product. As we expand into more complex projects and going upmarket, continue to invest in marketing as long as the market allows us to be very efficient, and you can see the tROI, how it behaved quarter-over-quarter, and make sure we grow on a healthy pace and improving the EBITDA throughout the remainder of the year. But there’s nothing — there’s no moving part that I think you guys are not aware of.

Marvin Fong: That’s great. Thanks Ofer for that insight. Appreciate it.

Operator: There are no further questions at this time. I would like to hand back over to the speakers for closing remarks.

Micha Kaufman: Thank you, Sandra, for moderating this call, and thank you everyone for participating. We wish all of you a great day and look forward to see you very soon.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.