Freelance Services Marketplace fiber The company announced in the third quarter that demand for skilled workers increased in the third quarter, due in part to efforts by small and medium-sized businesses to implement artificial intelligence. shareholder letter It was released on Wednesday (November 5th).
The company said in the letter that it saw growth in this area during the quarter. What was there was Continued macro uncertainty, mixed economic indicators, and weakness in the job market.
“There is clearly a demand divergence within the market,” the letter said. “High-quality talent with specialized skills continues to outperform, but commoditized skills are under pressure.”
Fiverr also saw significant growth in more complex projects, according to a report on Wednesday. earnings release. Trends reflected You spend more per buyer. Annual spending per buyer increased 11.7% year over year, from $295 to $330.
The company connects businesses of all sizes with professional freelancers in more than 750 categories, according to the release. Projects supported by these freelancers include software and AI development, digital marketing, finance, business consulting, video animation, music, architecture, and more.
Founder and CEO of Fiverr Mika Kaufman said in prepared comments In Wednesday’s earnings call, the company announced that it was experiencing “tremendous growth” in its AI-related services.
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“AI will increasingly reshape how work is delivered; implemented “Across the industry, demand continues to surge in areas such as AI agents, workflow automation, and vibe coding,” Kaufman said, adding, “Fiverr’s freelancers have become an essential partner for small and medium-sized businesses looking to transform AI from possibility to performance.”
In his remarks, Kaufman said the company’s Programming & Technology division, which includes AI-related services, grew 14% year over year in the third quarter. He added that Mr. Fiverr believes. that This AI transformation looks like this of former digital conversion and it is It could provide “multi-year tailwinds for a wide range of technology investments.”
To take advantage of this potential tailwind, Fiverr has been transforming its business. In September, the company announced it would lay off 250 employees companywide. different Department as part of restructuring plan it is the purpose make company AI focused “From the root.”
“To capitalize on this long-term tailwind, we are doubling down on our investments in AI-related categories, from growing our specialized talent community and launching customized AI solutions to expanding our go-to-market channels through strategic partnerships,” Kaufman said in prepared remarks.
