Fiverr Announces Board Authorization of Additional $100 Million for Share Repurchase Program
NEW YORK, March 11, 2025 (GLOBE NEWSWIRE) -- Fiverr International Ltd, (NYSE: FVRR), the company that is changing how the world works together, announced that on March 10, 2025, its Board of Directors has authorized additional repurchases of up to $100 million of ordinary shares under its share repurchase program.
“We are pleased to announce that our Board has authorized an additional $100 million in our stock repurchase program. This program aligns with our consistent capital allocation strategy of driving growth, optimizing our balance sheet, enhancing shareholder value through buybacks, and evaluating strategic M&A opportunities,” said Ofer Katz, Fiverr’s President and CFO. “In this market, as we maintain a strong cash position with ample cash flow generation to strategically deploy across our capital allocation priorities, our expectation is to pay down our convertible notes with cash when they become due in November 2025. We also plan to opportunistically engage in share repurchases as one tool in our broader capital allocation strategy focused on driving long-term shareholder value."
According to Israeli Law the company’s creditors may apply to the company and object to the share repurchase program until April 10, 2025, in which case, the share repurchase program will be subject to a court approval. In the event no such objection is filed, the share repurchase program will become effective.
Repurchases under the program may be made from time to time in the open market, including through trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in privately negotiated transactions or otherwise. The timing and amount of any share buybacks will be subject to market conditions and other factors determined by the company. The company may suspend, modify or discontinue buybacks at any time in its sole discretion without prior notice. This notice is neither an offer to purchase nor a solicitation of an offer to buy any securities.
About Fiverr
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, nearly 4 million customers worldwide worked with freelance talent on Fiverr in the past year, ensuring their workforces remain flexible, adaptive, and agile. With Fiverr Business Solutions, large companies can find the right talent and tools, tailored to their needs to help them thrive and grow. On Fiverr, you can find over 700 skills, ranging from programming to 3D design, digital marketing to content creation, from video animation to architecture.
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Forward-Looking Statements
This press release contains forward-looking statements. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company’s strategy, our repurchase program and its anticipated benefits, our ability to return capital to shareholders and our plan to pay down our convertible notes. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from our expectations expressed or implied by the forward-looking statements, including without limitation the important factors discussed under the caption “Risk Factors” in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on February 19, 2025, and our other reports filed with the SEC. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Investor Relations:
Jinjin Qian
Press:
Jenny Chang
Source: Fiverr International Ltd.
