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Upwork:Quarterly Results/2023 Q1: Difference between revisions
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* Fiverr expects the Q2 2023 revenue to grow by 4%-6% y/y to $88.0 - $90.0 million. | * Fiverr expects the Q2 2023 revenue to grow by 4%-6% y/y to $88.0 - $90.0 million. | ||
* Fiverr is positive on AI. | * Fiverr is positive on AI. | ||
* The company sees stabilization in cohort dynamics. | * The company sees stabilization in cohort dynamics. | ||
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"We continue to see growth in high-value spenders on our marketplace and their strong retention and spending patterns continue to strengthen our overall cohort behavior. Among those who spend over $10K+ in 2022, we saw the vast majority of them remain very active in the first quarter of 2023 despite the challenging macro conditions." | "We continue to see growth in high-value spenders on our marketplace and their strong retention and spending patterns continue to strengthen our overall cohort behavior. Among those who spend over $10K+ in 2022, we saw the vast majority of them remain very active in the first quarter of 2023 despite the challenging macro conditions." | ||
== Summary of Earnings Call == | |||
Fiverr Q1 2023 earnings call mainly centred on AI and macro situation. Below is a summary of the call<ref>https://events.q4inc.com/attendee/111556726 | |||
https://seekingalpha.com/article/4603058-fiverr-international-ltd-fvrr-q1-2023-earnings-call-transcript</ref>; | |||
=== Generative AI === | |||
* Haven't seen AI impact the business. | |||
* Categories they opened to address AI-related jobs are booming. | |||
* They are seeing increasing need for human skills deployed to implement AI technologies. | |||
* Don't expect AI to displace human talent in the long-run. | |||
* Believe Fiverr will benefit from AI technologies to improve their product experience. | |||
* Believe AI brings a step function to addressable their market. | |||
* They will continue investing in widening the catalog around AI services. | |||
* Micha Kaufman notes that sellers who have better grasp and better usage of AI are going to outcompete those who don't. | |||
* Kaufman adds that "it's very hard to understand what categories or how categories might be influenced." | |||
* Kaufman added that he expect AI to help Fiverr sellers generate authentic content faster. | |||
* Kaufman said it's too soon to pick any trends in usage of AI by small businesses, large businesses or new buyers. | |||
=== Macro environment === | |||
* CFO Ofer Katz said they do not see any changes to their current underlying macroeconomic assumptions . | |||
* Kaufman noted that as macro recover they will mostly likely see an increase in active buyers before an increase in spend per buyer. | |||
==== Management Guidance and Analysts Estimate ==== | ==== Management Guidance and Analysts Estimate ==== | ||