FVRR · FIVERR INTERNATI Q2 FY2026 earnings call record财报电话会记录

“A discussion of some of the important risk factors that could cause actual results to differ materially from any forward-looking statements can be found under the Risk Factors section in Fiverr's most recent Form 20-F and other filings with the SEC.”

“Today I'll review our second quarter financial performance and provide additional visibility into the ongoing marketplace transition, an update on capital allocation, as well as third quarter and full year 2026 financial guidance.”

“Adjusted EBITDA was $17.5 million, down 18.3% year-over-year and representing an Adjusted EBITDA margin of 17.9% as margins declined 180 basis points from a year earlier.”

“Margin pressure was limited by the proactive steps the team has taken to maintain a lean organization, including our continued efforts in discretionary spend management, internal AI efficiencies, and balanced marketing.”

“Our revised guidance for the third quarter and full year 2026 reflects the AI-related demand and traffic headwinds observed in recent weeks, which have continued into Q3, impacting our entire marketplace, ongoing weakness in categories most exposed to AI automation, and declining services revenue.”

“For the third quarter of 2026, revenue is expected to be between $80 million-$88 million, representing year-over-year growth of -26% to -18%, and Adjusted EBITDA between $8 million-$12 million, representing an Adjusted EBITDA margin of 11.9% at the midpoint.”

“For the full year 2026, we expect revenue to be in the range of $356 million-$372 million, representing an year-over-year growth of -17% to -14%, and Adjusted EBITDA in the range of $52 million-$62 million, representing an Adjusted EBITDA margin of 15.7% at the midpoint.”

“As for the first one, the answer is yes, it's mostly headwinds, which really impact our calibration or estimation of how long this transformation is going to take.”

“Traffic used to come only from search, then it became LLMs as well, and now it's becoming hybrids of LLMs and traditional search, which essentially lowers the volume of traffic, which we called out as one of the major headwinds.”

“What we're going to do in the second half of the year is deploy some of these solutions at scale and continue to work on new things that we feel are going to impact and accelerate the ability to drive a quality experience, better conversion, and optimize for a higher spend of those customers.”

“I realize it's hard to know 100% for certain, but you mentioned Google's distribution with kind of integrating LLMs into search and being a driver of the weakness, which makes sense.”

“The weakness of demand and traffic comes from Google, but it has also, as I've mentioned, the impact of integrating LLM or AI summaries in the Google search.”