Skip to main content

Fiverr International Ltd

For the period ended Dec 31, 2023. Filed Feb 22, 2024.

View on SEC.gov

About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2023 · Filed Feb 22, 2024

FVRR$8.30-1.3%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits
Contents

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 20-F

(Mark One)☐REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
For the fiscal year ended December 31, 2023
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
OR
☐SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report

Commission file number 001-38929

(Exact name of Registrant as specified in its charter)

Not Applicable

(Translation of Registrant’s name into English)

State of Israel

(Jurisdiction of incorporation or organization)

8 Eliezer Kaplan St,

Tel Aviv 6473409, Israel

(Address of principal executive offices)

Micha Kaufman

Chief Executive Officer

Telephone: +972-72-2280910

Email: investors@fiverr.com

8 Eliezer Kaplan St,

Tel Aviv 6473409, Israel

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered, pursuant to Section 12(b) of the Act

Title of each classTrading Symbol(s)Name of each exchange on which registered
Ordinary shares, no par valueFVRRThe New York Stock Exchange

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer’s classes of capital stock or common stock as of the close of the period covered by the annual report.38,653,958 ordinary shares.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes ☐ No ☒

Note—Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☒ Large accelerated filer☐ Accelerated filer☐ Non-accelerated filer☐ Emerging growth company

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

☒ U.S. GAAP☐ International Financial Reporting Standards as issued by the International Accounting Standards Board☐ Other

If “Other” has been checked in response to the previous question indicate by check mark which financial statement item the registrant has elected to follow.

Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No☒

CONTENTS

Page
PRESENTATION OF FINANCIAL AND OTHER INFORMATION4
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS5
PART I7
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS7
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE7
ITEM 3. KEY INFORMATION7
A. [Reserved]7
B. Capitalization and Indebtedness7
C. Reasons for the Offer and Use of Proceeds7
D. Risk Factors7
ITEM 4. INFORMATION ON THE COMPANY38
A. History and Development of the Company38
B. Business Overview38
C. Organizational Structure54
D. Property, Plant and Equipment54
ITEM 4A. UNRESOLVED STAFF COMMENTS55
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS55
A. Operating Results60
B. Liquidity and Capital Resources61
C. Research and Development, Patents and Licenses, etc.64
D. Trend Information64
E. Critical Accounting Estimates64
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES67
A. Directors and Senior Management67
B. Compensation69
C. Board Practices73
D. Employees83
E. Share Ownership84
F. Disclosure of a Registrant’s Action to Recover Erroneously Awarded Compensation84
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS84
A. Major Shareholders84
B. Related Party Transactions86
C. Interests of Experts and Counsel86
ITEM 8. FINANCIAL INFORMATION86
A. Consolidated Statements and Other Financial Information86
B. Significant Changes87
ITEM 9. THE OFFER AND LISTING87
A. Offer and Listing Details87
B. Plan of Distribution87
C. Markets87
D. Selling Shareholders87
E. Dilution87
F. Expenses of the Issue87
ITEM 10. ADDITIONAL INFORMATION87
A. Share Capital87
B. Memorandum and Articles of Association87
C. Material Contracts88
D. Exchange Controls90
E. Taxation90
F. Dividends and Paying Agents99
G. Statement by Experts99
H. Documents on Display99
I. Subsidiary Information100
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK100
ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES100
PART II101
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES101
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS101
ITEM 15. CONTROLS AND PROCEDURES101
ITEM 16. [RESERVED]101
ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT101
ITEM 16B. CODE OF ETHICS101
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES102
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES102
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS102
ITEM 16F. CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT103
ITEM 16G. CORPORATE GOVERNANCE103
ITEM 16H. MINE SAFETY DISCLOSURE103
ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS103
ITEM 16J. INSIDER TRADING POLICIES103
ITEM 16K. CYBERSECURITY103
PART III105
ITEM 17. FINANCIAL STATEMENTS105
ITEM 18. FINANCIAL STATEMENTS105
ITEM 19. EXHIBITS105
SIGNATURES108
INDEX TO CONSOLIDATED FINANCIAL STATEMENTSF-1
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.