Fiverr IPO F-1

Interesting financials. Another unprofitable startup going public in close proximity to others this year. Key numbers for me:

$75.5M revenue in 2018 (increase of 45% from 2017), but net loss north of $36M.

Cost of revenue is growing slowly (17%), but OpEx growth (65%) way outpaced revenue growth, mostly due to a huge G&A increase.

For reference, the closest direct competitor to Fiverr is Upwork, which did about $250M revenue last year (25% growth) and still had $20M in net loss.