TickerFVRR
SectorInternet Content & Information
Mkt cap$412M
EV / EBITDA8.3×
PostureQuiet Issuer
Composite24/100
LensBuyer-side

SE-Cluster Research·Issuer Brief·Q2 2026CIK 1762301

Fiverr International Ltd.

FVRRQUIET ISSUERQUIET

Fiverr International Ltd. reads as an Quiet Issuer (composite 24/100); Selective Buyer deploying $40M across 2 disclosed transactions, down 59% vs the prior cycle · primary market Marketing & Data.

Lens

Disclosed M&A capital (2023–2025)

$40M

−59%

vs $97M in 2020–2022

Disclosed transactions

−33%

2/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

/100

Quiet Issuer dominates · Quiet

Financial snapshotRevenue$429M
EBITDA$33M
Enterprise value$276M
EV / Revenue0.6×
EV / EBITDA8.3×
P/EN/A
Cash$125M
Total debtN/A
as of 2026-05-10

§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

24/100

Companies actively deploying disclosed capital into M&A

$137M disclosed buyer spend

Buyer Cadence

5/100

Buyer-side companies with recent filing activity

Target Probability

2/100

Issuers showing target-side patterns from filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

Pressure Watch

2/100

Issuers facing activism, governance, or control pressure

Distress Watch

12/100

Issuers showing financial-distress filing patterns

Missing recent 10-Q

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

11/100

Issuers with the highest filing-activity intensity

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

Enterprise value $276M
2 active signals

§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $97M · Peak count: 3

FY	Disclosed buys	Disclosed spend	Avg ticket	Audited tier
2025	N/A	$100K	N/A	N/A
2024	2	$40M	$20M	N/A
2023	N/A	N/A	N/A	N/A
2022	N/A	N/A	N/A	N/A
2021	3	$97M	$32M	N/A
2020	N/A	N/A	N/A	N/A

§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

Technology Acquisition
33%
Platform
33%
Talent Acquisition
33%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

technology_acquisition
platform
talent_acquisition

§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

“The success of any acquisition will depend upon several factors, including our ability to: identify and cost-effectively acquire businesses; integrate acquired user data, operations, products and technologies into our organization effectively; retain and motivate key personnel; and effectively retain acquired users”

10-KFY2021

“And.Co is a platform for online back office service to assist freelancers with invoicing, contracts and task management”

10-KFY2019

“we have in the past acquired and may in the future acquire certain complementary businesses or technologies”

10-KFY2021

“ClearVoice is a subscription based content marketing platform for medium to large businesses”

10-KFY2019

§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Marketing & Data

Market spend (2023–2025): $51.4B
Market spend (2020–2022): $63.5B
Recent vs prior: −19%
Issuer rank in market: N/A
Share of market capital: 0.0%

Valuation positioning

8.3×EV / EBITDA

FVRR trades at a -14.1-turn discount to the Marketing & Data peer median of 22.4×.

EV / Revenue: 0.6×
Net debt / EBITDA: N/A
Peer median EV / EBITDA: 22.4×

Trading comparables

FMP market data · 2026-05-10

Company	EV / EBITDA	EV / Rev	Net debt / EBITDA	Revenue	M&A 2023–2025
Alphabet Inc.GOOG	22.4×	11.6×	-0.2×	$422.6B	$3.2B
Fiverr International Ltd.FVRR	8.3×	0.6×	N/A	$429M	$40M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Marketing & Data. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Target landscape.

Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.

No qualifying public-issuer targets surfaced from the current signal mix.

Stated target categories

No target categories enumerated in the audited corpus for this issuer.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

10-K (annual)72026-03-12
10-Q (quarterly)0N/A
8-K (event)0N/A
Proxy / DEF 14A0N/A
Activism (13D / DFAN / PREC)0N/A

Signals on file

info
Signal
Serial acquisition history
info
Signal
10-K strategy themes

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

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