I'm currently in the midst of writing a deep dive on Fiverr for my substack and wanted people's thoughts based on preliminary DD.
Debt paid down in Nov 2025 with cash, current cash position estimated to be $290 million - $320 million (depending on Q4 FCF)
Company is generating FCF every quarter, so no distress risk.
Trading at NTM P/E of 7.3 and forward EV/EBITDA 4.7. FCF Yield based on LTM FCF is at 16.7%.
Active buyers down, but Annual spend per buyer up.
SBC is a risk I still need to look at and try to quantify the valaution impact.
Let me know your guys' thoughts