- Delivered strong results for 2023. We successfully executed our strategic priorities and surpassed both revenue and Adjusted EBITDA targets that we set at the beginning of the year.
- AI drove a +4% uplift in GMV. Our investments in AI and highly skilled categories led to a 4% net positive impact on GMV in 2023. Complex services contributed to 32% of total GMV in 2023, with y/y growth of 29%, accelerating from 12% in 2022.
- Strong expansion in take rate. Take rate grew 160 bps in 2023 to 31.8%, driven by both Promoted Gigs, which grew 80% y/y in revenue, and Seller Plus, which grew 2.5x in revenue.
- Supercharged our platform with AI innovation. In our recent Winter Product Release, announced on
January 30 , we delivered major upgrades across our platform with the latest AI technology. This includes a brand new homepage with Fiverr NeoTM and AI-powered personalization, AI-assisted briefing capability, and a new AI-driven seller leveling system. - Expect GMV to accelerate in 2024. Key priorities in 2024 include expanding our market share in complex service categories, driving adoption of Fiverr Business Solutions, and continued innovation around AI. We expect to take a balanced approach to drive profitable growth in 2024, with accelerating GMV, sustainable take rate, and continued expansion in Adjusted EBITDA.
“We are pleased to deliver strong results for 2023 with both revenue and Adjusted EBITDA ahead of our targets set at the beginning of the year. In the face of an uncertain macro environment, we continue to lead through innovation. Our latest Winter Product Release announced on
Fourth Quarter 2023 Financial Highlights
- Revenue in the fourth quarter of 2023 was
$91.5 million , compared to$83.1 million in the fourth quarter of 2022, an increase of 10.1% year over year. - Active buyers1 as of
December 31, 2023 was 4.1 million, compared to 4.3 million as ofDecember 31, 2022 , a decrease of 5% year over year. - Spend per buyer1 as of
December 31, 2023 reached$278 , compared to$262 as ofDecember 31, 2022 , an increase of 6% year over year. - Take rate1 for the period ended
December 31, 2023 was 31.8%, up from 30.2% for the period endedDecember 31, 2022 , an increase of 160 basis points year over year. - GAAP gross margin in the fourth quarter of 2023 was 83.1%, an increase of 210 basis points from 81.0% in the fourth quarter of 2022. Non-GAAP gross margin1 in the fourth quarter of 2023 was 84.6%, an increase of 150 basis points from 83.1% in the fourth quarter of 2022.
- GAAP net income in the fourth quarter of 2023 was
$4.7 million , or$0.12 basic and diluted net income per share, compared to($1.3) million net loss, or ($0.03 ) basic and diluted net loss per share, in the fourth quarter of 2022. - Non-GAAP net income1 in the fourth quarter of 2023 was
$23.1 million , or$0.6 basic non-GAAP net income per share1 and$0.56 diluted non-GAAP net income per share1, compared to$10.7 million non-GAAP net income, or$0.29 basic non-GAAP net income per share1 and$0.26 diluted non-GAAP net income per share1, in the fourth quarter of 2022. - Adjusted EBITDA1 in the fourth quarter of 2023 was
$16.1 million , compared to$9.4 million in the fourth quarter of 2022. Adjusted EBITDA margin1 was 17.6% in the fourth quarter of 2023, compared to 11.3% in the fourth quarter of 2022.
Full Year 2023 Financial Highlights
- Revenue in 2023 was
$361.4 million , an increase of 7.1% year over year. - GAAP gross margin in 2023 was 82.9%, an increase of 240 basis points from 80.5% in 2022. Non-GAAP gross margin1 in 2023 was 84.5%, an increase of 150 basis points from 83.0% in 2022.
- GAAP net income in 2023 was
$3.7 million , or$0.10 basic net income per share and$0.09 diluted net income per share1, compared to a net loss of($71.5) million , or ($1.94 ) basic and diluted net loss per share, in 2022. Non-GAAP net income1 in 2023 was$80.4 million , or$2.11 basic Non-GAAP net income per share1 and$1.95 diluted Non-GAAP net income per share1, compared to$28.9 million , or$0.78 basic Non-GAAP net income per share1 and$0.71 diluted Non-GAAP net income per share1, in 2022. - Adjusted EBITDA1 in 2023 was
$59.2 million , compared to$24.4 million in 2022. Adjusted EBITDA margin1 was 16.4% in 2023, an increase of 920 basis points from 7.2% in 2022.
Financial Outlook
Below we provide our management guidance for the first quarter and full year of 2024, reflecting the recent trends on our marketplace.
Unpacking the underlying drivers, we expect to accelerate our GMV growth by 1%-2% as we continue to invest in progressing upmarket and complex services. Take rate is expected to expand at a more moderate pace in 2024 compared to 2023. Spend per buyer is also expected to accelerate in terms of y/y growth rate, and active buyers to continue to maintain similar trends as in 2023.
For Adjusted EBITDA, we expect to expand our Adjusted EBITDA margin at a steady pace and continue to make progress towards our long-term target of 25%. Overall, we expect to take a balanced and measured approach in driving profitable growth in 2024.
Q1 2024 | FY 2024 | |
Revenue | ||
y/y growth | 4% - 6% y/y growth | 5% - 7% y/y growth |
Adjusted EBITDA(1) |
Conference Call and Webcast Details
Fiverr’s management will host a conference call to discuss its financial results on
About
Fiverr’s mission is to change how the world works together. We exist to democratize access to talent and to provide talent with access to opportunities so anyone can grow their business, brand, or dreams. From small businesses to Fortune 500, over 4 million customers worldwide worked with freelance talent on
Don’t get left behind - come be a part of the future of work by visiting fiverr.com, read our blog, and follow us on Twitter, Instagram, and Facebook.
Investor Relations:
investors@fiverr.com
Press:
press@fiverr.com
CONSOLIDATED BALANCE SHEETS | |||||||||
(in thousands) | |||||||||
2023 | 2022 | ||||||||
(Unaudited) | (Audited) | ||||||||
Assets | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 183,674 | $ | 86,752 | |||||
Restricted cash | - | 1,137 | |||||||
Marketable securities | 147,806 | 241,293 | |||||||
User funds | 151,602 | 143,020 | |||||||
Bank deposits | 85,893 | 134,000 | |||||||
Restricted deposit | 1,284 | - | |||||||
Other receivables | 24,217 | 19,019 | |||||||
Total current assets | 594,476 | 625,221 | |||||||
Marketable securities | 328,332 | 189,839 | |||||||
Property and equipment, net | 4,735 | 5,660 | |||||||
Operating lease right of use asset | 6,720 | 9,077 | |||||||
Intangible assets, net | 10,722 | 14,770 | |||||||
77,270 | 77,270 | ||||||||
Other non-current assets | 1,349 | 1,965 | |||||||
Total assets | $ | 1,023,604 | $ | 923,802 | |||||
Liabilities and Shareholders' Equity | |||||||||
Current liabilities: | |||||||||
Trade payables | $ | 5,494 | $ | 8,630 | |||||
User accounts | 142,203 | 133,032 | |||||||
Deferred revenue | 11,047 | 11,353 | |||||||
Other account payables and accrued expenses | 44,110 | 41,328 | |||||||
Operating lease liabilities | 2,571 | 2,755 | |||||||
Total current liabilities | 205,425 | 197,098 | |||||||
Long-term liabilities: | |||||||||
Convertible notes | 455,305 | 452,764 | |||||||
Operating lease liabilities | 4,482 | 6,649 | |||||||
Other non-current liabilities | 2,618 | 1,559 | |||||||
Total long-term liabilities | 462,405 | 460,972 | |||||||
Total liabilities | $ | 667,830 | $ | 658,070 | |||||
Shareholders' equity: | |||||||||
Share capital and additional paid-in capital | 640,846 | 565,834 | |||||||
Accumulated deficit | (284,358 | ) | (288,039 | ) | |||||
Accumulated other comprehensive income (loss) | (714 | ) | (12,063 | ) | |||||
Total shareholders' equity | 355,774 | 265,732 | |||||||
Total liabilities and shareholders' equity | $ | 1,023,604 | $ | 923,802 | |||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
(in thousands, except share and per share data) | ||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
(Unaudited) | (Unaudited) | (Audited) | ||||||||||||||
Revenue | $ | 91,502 | $ | 83,130 | $ | 361,375 | $ | 337,366 | ||||||||
Cost of revenue | 15,473 | 15,814 | 61,846 | 65,948 | ||||||||||||
Gross profit | 76,029 | 67,316 | 299,529 | 271,418 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 22,054 | 21,328 | 90,720 | 92,563 | ||||||||||||
Sales and marketing | 39,767 | 40,448 | 161,208 | 174,599 | ||||||||||||
General and administrative | 15,816 | 7,762 | 62,710 | 51,161 | ||||||||||||
Impairment of intangible assets | - | - | - | 27,629 | ||||||||||||
Total operating expenses | 77,637 | 69,538 | 314,638 | 345,952 | ||||||||||||
Operating loss | (1,608 | ) | (2,222 | ) | (15,109 | ) | (74,534 | ) | ||||||||
Financial income, net | 6,914 | 1,391 | 20,163 | 3,624 | ||||||||||||
Income (loss) before income taxes | 5,306 | (831 | ) | 5,054 | (70,910 | ) | ||||||||||
Income taxes | (605 | ) | (468 | ) | (1,373 | ) | (577 | ) | ||||||||
Net income (loss) attributable to ordinary shareholders | $ | 4,701 | $ | (1,299 | ) | $ | 3,681 | $ | (71,487 | ) | ||||||
Basic net income (loss) per share attributable to ordinary shareholders | $ | 0.12 | $ | (0.03 | ) | $ | 0.10 | $ | (1.94 | ) | ||||||
Basic weighted average ordinary shares | 38,501,155 | 37,411,657 | 38,066,203 | 36,856,140 | ||||||||||||
Diluted net income (loss) per share attributable to ordinary shareholders | $ | 0.12 | $ | (0.03 | ) | $ | 0.09 | $ | (1.94 | ) | ||||||
Diluted weighted average ordinary shares | 39,286,967 | 37,411,657 | 39,151,047 | 36,856,140 |
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||
(in thousands) | |||||||||||||
Three Months Ended | Twelve Months Ended | ||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||
(Unaudited) | (Unaudited) | (Audited) | |||||||||||
Operating Activities | |||||||||||||
Net income (loss) | $ | 4,701 | (1,299 | ) | 3,681 | (71,487 | ) | ||||||
Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||||||||
Depreciation and amortization | 1,287 | 1,995 | 5,987 | 10,185 | |||||||||
Exchange rate fluctuations and other items, net | (214 | ) | (157 | ) | 71 | 5 | |||||||
Amortization of premium and accretion of discount of marketable securities, net | (1,841 | ) | 1,333 | (730 | ) | 6,385 | |||||||
Amortization of discount and issuance costs of convertible notes | 637 | 633 | 2,541 | 2,527 | |||||||||
Shared-based compensation | 16,792 | 17,026 | 68,698 | 71,755 | |||||||||
Impairment of intangible assets | - | - | - | 27,629 | |||||||||
Impairment of lease ROU asset | 211 | - | 211 | - | |||||||||
Changes in assets and liabilities: | |||||||||||||
User funds | 8,880 | 2,277 | (8,582 | ) | (15,307 | ) | |||||||
Operating lease ROU assets and liabilities | 358 | 62 | (205 | ) | (1,485 | ) | |||||||
Other receivables | 3,379 | (10 | ) | (2,877 | ) | (4,847 | ) | ||||||
Trade payables | 2,099 | 2,771 | (3,195 | ) | (113 | ) | |||||||
Deferred revenue | (1,989 | ) | (263 | ) | (306 | ) | (792 | ) | |||||
User accounts | (7,140 | ) | (1,933 | ) | 9,171 | 14,416 | |||||||
Account payable, accrued expenses and other | 752 | (5,368 | ) | 8,232 | 3,994 | ||||||||
Revaluation of contingent consideration | (570 | ) | (7,462 | ) | (570 | ) | (12,249 | ) | |||||
Payment of contingent consideration | - | - | - | (504 | ) | ||||||||
Non-current liabilities | 207 | - | 1,059 | - | |||||||||
Net cash provided by operating activities | 27,549 | 9,605 | 83,186 | 30,112 | |||||||||
Investing Activities | |||||||||||||
Investment in marketable securities | (46,394 | ) | (51,694 | ) | (309,155 | ) | (141,701 | ) | |||||
Proceeds from sale of marketable securities | 40,780 | 13,180 | 273,186 | 130,701 | |||||||||
Bank and restricted deposits | 31,245 | (37,863 | ) | 46,858 | - | ||||||||
Acquisition of intangible asset | - | - | - | (175 | ) | ||||||||
Purchase of property and equipment | (135 | ) | (87 | ) | (1,053 | ) | (1,198 | ) | |||||
Capitalization of internal-use software and other | (3 | ) | 19 | (60 | ) | (1,000 | ) | ||||||
Other non-current assets | - | (73 | ) | - | (1,251 | ) | |||||||
Net cash provided by (used in) investing activities | 25,493 | (76,518 | ) | 9,776 | (14,624 | ) | |||||||
Financing Activities | |||||||||||||
Payment of contingent consideration | - | - | - | (1,105 | ) | ||||||||
Proceeds from exercise of share options | 364 | 1,457 | 2,765 | 3,765 | |||||||||
Tax withholding in connection with employees' options exercises and vested RSUs | 163 | 258 | 87 | (2,028 | ) | ||||||||
Repayment of long-term loan | - | - | - | (2,269 | ) | ||||||||
Net cash provided by (used in) financing activities | 527 | 1,715 | 2,852 | (1,637 | ) | ||||||||
Effect of exchange rate fluctuations on cash and cash equivalents | 220 | 151 | (29 | ) | (32 | ) | |||||||
Increase in cash, cash equivalents and restricted cash | 53,789 | (65,047 | ) | 95,785 | 13,819 | ||||||||
Cash, cash equivalents and restricted cash at the beginning of period | 129,885 | 152,936 | 87,889 | 74,070 | |||||||||
Cash and cash equivalents at the end of period | $ | 183,674 | 87,889 | 183,674 | 87,889 | ||||||||
KEY PERFORMANCE METRICS | ||||
Twelve Months Ended | ||||
2023 | 2022 | |||
Annual active buyers (in thousands) | 4,077 | 4,275 | ||
Annual spend per buyer ($) | 278 | 262 |
RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT | ||||||||||||||||
(in thousands, except gross margin data) | ||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
GAAP gross profit | $ | 76,029 | $ | 67,316 | $ | 299,529 | $ | 271,418 | ||||||||
Add: | ||||||||||||||||
Share-based compensation and other | 633 | 565 | 2,497 | 2,520 | ||||||||||||
Depreciation and amortization | 709 | 1,170 | 3,253 | 6,065 | ||||||||||||
Non-GAAP gross profit | $ | 77,371 | $ | 69,051 | $ | 305,279 | $ | 280,003 | ||||||||
Non-GAAP gross margin | 84.6% | 83.1% | 84.5% | 83.0% | ||||||||||||
RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME AND NET INCOME PER SHARE | ||||||||||||||||
(in thousands, except share and per share data) | ||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
GAAP net income (loss) attributable to ordinary shareholders | $ | 4,701 | $ | (1,299 | ) | $ | 3,681 | $ | (71,487 | ) | ||||||
Add: | ||||||||||||||||
Depreciation and amortization | 1,287 | 1,995 | 5,987 | 10,185 | ||||||||||||
Share-based compensation | 16,792 | 17,026 | 68,698 | 71,755 | ||||||||||||
Impairment of intangible assets | - | - | - | 27,629 | ||||||||||||
Contingent consideration revaluation, acquisition related costs and other | (359 | ) | (7,403 | ) | (359 | ) | (10,613 | ) | ||||||||
Convertible notes amortization of discount and issuance costs | 637 | 633 | 2,541 | 2,527 | ||||||||||||
Exchange rate (gain)/loss, net | 42 | (209 | ) | (131 | ) | (1,141 | ) | |||||||||
Non-GAAP net income | $ | 23,100 | $ | 10,743 | $ | 80,417 | $ | 28,855 | ||||||||
Weighted average number of ordinary shares - basic | 38,501,155 | 37,411,657 | 38,066,203 | 36,856,140 | ||||||||||||
Non-GAAP basic net income per share attributable to ordinary shareholders | $ | 0.60 | $ | 0.29 | $ | 2.11 | $ | 0.78 | ||||||||
Weighted average number of ordinary shares - diluted | 41,440,827 | 40,783,489 | 41,304,907 | 40,662,057 | ||||||||||||
Non-GAAP diluted net income per share attributable to ordinary shareholders | $ | 0.56 | $ | 0.26 | $ | 1.95 | $ | 0.71 | ||||||||
RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA | ||||||||||||||||
(in thousands, except adjusted EBITDA margin data) | ||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
GAAP net income (loss) | $ | 4,701 | $ | (1,299 | ) | $ | 3,681 | $ | (71,487 | ) | ||||||
Add: | ||||||||||||||||
Financial income, net | (6,914 | ) | (1,391 | ) | (20,163 | ) | (3,624 | ) | ||||||||
Income taxes | 605 | 468 | 1,373 | 577 | ||||||||||||
Depreciation and amortization | 1,287 | 1,995 | 5,987 | 10,185 | ||||||||||||
Share-based compensation | 16,792 | 17,026 | 68,698 | 71,755 | ||||||||||||
Impairment of intangible assets | - | - | - | 27,629 | ||||||||||||
Contingent consideration revaluation, acquisition related costs and other | (359 | ) | (7,403 | ) | (359 | ) | (10,613 | ) | ||||||||
Adjusted EBITDA | $ | 16,112 | $ | 9,396 | $ | 59,217 | $ | 24,422 | ||||||||
Adjusted EBITDA margin | 17.6% | 11.3% | 16.4% | 7.2% | ||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES | ||||||||||||||||
(in thousands) | ||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
GAAP research and development | $ | 22,054 | $ | 21,328 | $ | 90,720 | $ | 92,563 | ||||||||
Less: | ||||||||||||||||
Share-based compensation | 5,836 | 5,291 | 24,310 | 23,828 | ||||||||||||
Depreciation and amortization | 191 | 198 | 799 | 801 | ||||||||||||
Non-GAAP research and development | $ | 16,027 | $ | 15,839 | $ | 65,611 | $ | 67,934 | ||||||||
GAAP sales and marketing | $ | 39,767 | $ | 40,448 | $ | 161,208 | $ | 174,599 | ||||||||
Less: | ||||||||||||||||
Share-based compensation | 3,166 | 4,040 | 13,304 | 17,196 | ||||||||||||
Depreciation and amortization | 309 | 495 | 1,601 | 2,889 | ||||||||||||
Contingent consideration revaluation, acquisition related costs and other | - | (24 | ) | - | (24 | ) | ||||||||||
Non-GAAP sales and marketing | $ | 36,292 | $ | 35,937 | $ | 146,303 | $ | 154,538 | ||||||||
GAAP general and administrative | $ | 15,816 | $ | 7,762 | $ | 62,710 | $ | 51,161 | ||||||||
Less: | ||||||||||||||||
Share-based compensation | 7,157 | 7,130 | 28,587 | 28,211 | ||||||||||||
Depreciation and amortization | 78 | 132 | 334 | 430 | ||||||||||||
Contingent consideration revaluation, acquisition related costs and other | (359 | ) | (7,379 | ) | (359 | ) | (10,589 | ) | ||||||||
Non-GAAP general and administrative | $ | 8,940 | $ | 7,879 | $ | 34,148 | $ | 33,109 | ||||||||
Key Performance Metrics and Non-GAAP Financial Measures
This release includes certain key performance metrics and financial measures not based on GAAP, including Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income (loss) and non-GAAP net income (loss) per share as well as operating metrics, including GMV, active buyers, spend per buyer and take rate. Some amounts in this release may not total due to rounding. All percentages have been calculated using unrounded amounts.
We define each of our non-GAAP measures of financial performance, as the respective GAAP balances shown in the above tables, adjusted for, as applicable, depreciation and amortization, share-based compensation expenses, contingent consideration revaluation, acquisition related costs and other, income taxes, amortization of discount and issuance costs of convertible note, financial (income) expenses, net. Non-GAAP gross profit margin represents non-GAAP gross profit expressed as a percentage of revenue. We define non-GAAP net income (loss) per share as non-GAAP net income (loss) divided by GAAP weighted-average number of ordinary shares basic and diluted.
We define GMV or Gross Merchandise Value as the total value of transactions ordered through our platform, excluding value added tax, goods and services tax, service chargebacks and refunds. Active buyers on any given date is defined as buyers who have ordered a Gig or other services on our platform within the last 12-month period, irrespective of cancellations. Spend per buyer on any given date is calculated by dividing our GMV within the last 12-month period by the number of active buyers as of such date. Take rate is revenue for any such period divided by GMV for the same period.
Management and our board of directors use these metrics as supplemental measures of our performance that is not required by, or presented in accordance with GAAP because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of items not directly resulting from our core operations. We also use these metrics for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives and capital expenditures and to evaluate our capacity to expand our business.
Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income (loss) and non-GAAP net income (loss) per share as well as operating metrics, including GMV, active buyers, spend per buyer and take rate should not be considered in isolation, as an alternative to, or superior to net loss, revenue, cash flows or other performance measure derived in accordance with GAAP. These metrics are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Management believes that the presentation of non-GAAP metrics is an appropriate measure of operating performance because they eliminate the impact of expenses that do not relate directly to the performance of our underlying business.
These non-GAAP metrics should not be construed as an inference that our future results will be unaffected by unusual or other items. Additionally, Adjusted EBITDA and other non-GAAP metrics used herein are not intended to be a measure of free cash flow for management's discretionary use, as they do not reflect our tax payments and certain other cash costs that may recur in the future, including, among other things, cash requirements for costs to replace assets being depreciated and amortized. Management compensates for these limitations by relying on our GAAP results in addition to using Adjusted EBITDA and other non-GAAP metrics as supplemental measures of our performance. Our measure of Adjusted EBITDA and other non-GAAP metrics used herein is not necessarily comparable to similarly titled captions of other companies due to different methods of calculation.
See the tables above regarding reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.
We are not able to provide a reconciliation of Adjusted EBITDA and Adjusted EBITDA margin guidance for the first quarter of 2024 and the fiscal year ending
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our expected financial performance and operational performance for the first quarter of 2024, the fiscal year ending
1 This is a non-GAAP financial measure or Key Performance Metric. See “Key Performance Metrics and Non-GAAP Financial Measures” and reconciliation tables at the end of this release for additional information regarding the non-GAAP metrics and Key Performance Metrics used in this release.
Source:
2024 GlobeNewswire, Inc., source