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Q3 Earnings Highlights: Fiverr (NYSE:FVRR) Vs The Rest Of The Gig Economy Stocks

StockStory - Mon Jan 15, 12:35AM CST

FVRR Cover Image

Looking back on gig economy stocks' Q3 earnings, we examine this quarter's best and worst performers, including Fiverr (NYSE:FVRR) and its peers.

The iPhone changed the world, ushering in the era of the “always-on” internet and “on-demand” services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away.

The 4 gig economy stocks we track reported a weak Q3; on average, revenues were in line with analyst consensus estimates while next quarter's revenue guidance was 1.8% below consensus. Investors abandoned cash-burning companies to buy stocks with higher margins of safety, but gig economy stocks held their ground better than others, with the share prices up 22.8% on average since the previous earnings results.

Fiverr (NYSE:FVRR)

Based in Tel Aviv, Fiverr (NYSE:FVRR) operates a fixed price global freelance marketplace for digital services.

Fiverr reported revenues of $92.53 million, up 12.1% year on year, topping analyst expectations by 1.5%. It was a weaker quarter for the company, with underwhelming revenue guidance for the next quarter and slow revenue growth.

“We continue to innovate our offerings to help our community of businesses and freelancers,” said Micha Kaufman, founder and CEO of Fiverr.

Fiverr Total Revenue

Fiverr achieved the biggest analyst estimates beat and fastest revenue growth of the whole group. The stock is up 4.3% since the results and currently trades at $25.12.

Is now the time to buy Fiverr? Access our full analysis of the earnings results here, it's free.

Best Q3: Lyft (NASDAQ:LYFT)

Founded by Logan Green and John Zimmer as a long-distance intercity carpooling company Zimride, Lyft (NASDAQ: LYFT) operates a ridesharing network in the US and Canada.

Lyft reported revenues of $1.16 billion, up 9.8% year on year, outperforming analyst expectations by 1.3%. It was a mixed quarter for the company, with solid growth in its user base but slow revenue growth.

Lyft Total Revenue

The company reported 22.4 million, up 10.3% year on year. The stock is up 19.4% since the results and currently trades at $12.8.

Is now the time to buy Lyft? Access our full analysis of the earnings results here, it's free.

Slowest Q3: Angi (NASDAQ:ANGI)

Created by IAC’s mergers of Angie’s List and HomeAdvisor, ANGI (NASDAQ: ANGI) operates the largest online marketplace for home services in the US.

Angi reported revenues of $371.8 million, down 25.3% year on year, falling short of analyst expectations by 1.7%. It was a weak quarter for the company, with a decline in its user base and slow revenue growth.

Angi had the slowest revenue growth in the group. The company reported 6.07 million service requests, down 22.1% year on year. The stock is up 40% since the results and currently trades at $2.31.

Read our full analysis of Angi's results here.

Uber (NYSE:UBER)

Born out of a winter night thought: "What if you could request a ride from your phone?" Uber (NYSE: UBER) operates a global network of on demand services, most prominently ride hailing and food delivery, and freight.

Uber reported revenues of $9.29 billion, up 11.4% year on year, falling short of analyst expectations by 2.6%. It was a mixed  quarter for the company, with a miss of analysts' revenue estimates and slow revenue growth. On the other hand, Gross Bookings beat expectations. Additional positives include beats on the adjusted EBITDA and free cash flow lines.

Uber had the weakest performance against analyst estimates among its peers. The company reported 142 million users, up 14.5% year on year. The stock is up 31% since the results and currently trades at $63.08.

Read our full, actionable report on Uber here, it's free.

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The author has no position in any of the stocks mentioned

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