Oct 29, 2026 earnings call — Shift to AI discovery and services-led growth
Fiverr beat guidance with revenue of $90.9 million and adjusted EBITDA of $14.5 million.
Revenue $0.1B (est $0.1B) · EPS $0.43 (est $0.29) · Next-quarter revenue outlook $0.1B–$0.1B
Key quotes
"More and more journeys now start and end inside an AI assistant. Organic clicks are falling across the web and acquisition costs are rising for everyone who depends on them."
"The beat was led by our services business, where AutoDS and our e-commerce offering performed better than expected, and the momentum is carrying into Q4, along with tight cost management across the company."
"A Mira introduction converts at the same rate as a normal conversation on Fiverr, and the median order value for the headhunter experience is 5x larger."
Analyst Q&A 6
AI-driven buyer behavior and services
Q (Citi): They asked what buyers coming from AI channels are like and how AI-sourced work could grow as a share of new buyers. They also asked what is driving AutoDS momentum and how durable that services growth is.
A: Management said AI-driven channels send less traffic but higher-quality buyers with more formed intent, and they plan to bring Fiverr into agents so agents can act autonomously. On AutoDS, the team is performing very well across multiple initiatives, and the company treats services as part of the whole business with opportunities to grow fast.
"We expect to bring fiber to them inside their agents and ultimately allow their agents to be autonomous in working with fiber." — Micha Kaufman (CEO)
AutoDS campaign and LLM economics
Q (Stefanos Crist · Needham): They asked whether the AutoDS beat was driven by a pulled-forward marketing campaign and if revenues are lumpy or campaign-driven. They also asked about the economics of LLM integrations: take rate, who owns the customer, and repeat buyers.
A: Management said AutoDS growth comes from several vectors: a strong e-commerce software solution, AI tools for store owners, and efficient marketing. They confirmed a late-August campaign with a large e-commerce partner was very successful and will continue into Q4. For LLM partnerships they said the economics are unchanged, integrations act as a new top-of-funnel, and it is still early for the advertising model.
"And I'll add that the campaign that we referred to started in late August, and it was very successful and better than expected." — Esti Dadon (CFO)
Mira expansion and spend per buyer
Q (Marvin Fong · BTIG): They asked how Mira will expand through 2027 across categories and traffic, and whether spend-per-buyer trends show weakness given a smaller sequential dollar rise.
A: Management described Mira as a careful rollout of a headhunter-style matching product that they will expand across entry points as they learn which clients it fits, and they expect to keep scaling it through 2027. They said spend per buyer is rising because of more higher-value "100-plus projects," which they said now make up "16% of our GOA," but traffic headwinds mean transactions may grow on a slower base.
"So our expectation over 2027 is continue expanding this offering as we learn and we qualify which clients Mira is great for." — Micha Kaufman (CEO)
AI agents impact on acquisition timing
Q (Oppenheimer): They asked how AI integration efforts should affect customer acquisition in 2027 and wanted a size/timing view of the top-of-funnel opportunity from AI agents.
A: Management said it is very hard to extrapolate the top-of-funnel impact because there is no blueprint and this is uncharted territory. They noted agent-driven traffic and business quality are increasing, the pace of change is urgent, and they will share specific projections when they have solid information.
"So it's very hard to extrapolate what the implications of this on the top funnel is going to be." — Micha Kaufman (CEO)
SEO disruption and brand risk
Q (Matthew Condon · Citizens): They asked whether SEO disruption has stabilized or is worsening, and whether agents handling purchase/discovery risks weaken Fiverr's direct customer relationships and brand loyalty.
A: Management said traditional SEO is declining and may become unimportant as agents and LLMs reduce search traffic and ad density rises, leaving less room for organic results. They acknowledged brand loyalty is changing because agents are not loyal, but said Fiverr's data assets, quality, trust, and orchestration are differentiators they will surface inside agents and they are acting aggressively.
"When there is very high ad density, there's no space for organic results." — Micha Kaufman (CEO)
Marketplace trends and M&A stance
Q (UBS): They asked how Marketplace performed in Q3 versus expectations and whether the "steeper decline" was worse than expected three months ago. They also asked if M&A (for example AutoDS) is being considered.
A: Management said the Q3 traffic headwinds happened as expected and were within their prior expectation, and they expect traffic deterioration to continue into Q4 and to increase toward 2027. They said they are investing in new traffic channels and marketplace upgrades to support high-value transactions, and that M&A is not on the table now because the focus is investing in the transformation.
"What we are seeing is continuing in Q4, and we expect that traffic deterioration to continue and to increase by the end of the year and also towards 2027." — Esti Dadon (CFO)