Fiver's revenues in the first quarter of 2021 totaled $ 68.3 million, a 22% increase

Fiver's revenues in the first quarter of 2021 totaled $ 68.3 million, a 22% increase over the fourth quarter of 2020 - and a 100% jump over the same quarter last year. This is according to Fiver's financial statements published today (Thursday). However, after the company reported a cash flow operating profit (EBITDA) of $ 4.6 million in the fourth quarter of 2020, this time the company reported a slight operating loss of $ 0.7 million .
Fiver's net loss in the first quarter increased to $ 17.8 million, compared to $ 6.2 million in the corresponding quarter or $ 8.1 million in the previous quarter. The non-GAAP adjusted loss, which offsets one-time expenses and employee capital gains, totaled $ 0.3 million, or one cent per share. This is compared to an adjusted net loss of $ 2.6 million, or 8 cents per share in the same quarter last year - and compared to an adjusted net income of $ 4.6 million in the last quarter of 2020.
Meanwhile, the company reported that the number of active buyers increased to 3.8 million buyers, an increase of 12% compared to the fourth quarter of 2020 - and an increase of 56% compared to the same period last year. The average payment per buyer rose to $ 216, compared to $ 205 in the previous quarter - and $ 177 in the same period last year.
The "Take Rate", a figure that reflects the company's income from each transaction (commission taken partly from the seller and partly from the buyer), remained in the first quarter almost the same as the fourth quarter of 2020 and the corresponding period last year - 27.2%.
Between the first and second quarters of 2020, there was a 38% jump in the company's revenues; Between the second and third quarters, revenues increased by 11% and between the third and fourth quarters, the increase was 7%. The increase between the fourth quarter of 2020 and the first of 2021 is 22%. The results were partially affected by seasonality.
Faber has updated its ambitious forecast for 2021 upwards. The company expects a 59% -63% jump in revenue, to total $ 308-302 million. The company also expects operating profitability to rise to $ 24.5-19.5 million.
Fiver's e-commerce arena connects freelancers, who perform digital jobs such as design, writing and software development, to clients around the world, especially small and medium-sized businesses. The sellers display portfolios on the platform, receive orders through it and communicate and be considerate with their customers.
Fiver's strong growth in the past year has been influenced in part by closures around the world, which have led many users, both employees and employers, to use its services. The question is whether the company will be able to grow at the same rate in the future, when the world returns to normal.
Micha Kaufman, founder and CEO of Fiver, said, “This is one of the strongest quarters in Faber's history. "The momentum of Faber's business remains strong and stable."