Looking back on gig economy stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Fiverr (NYSE: FVRR) and its peers.

The iPhone changed the world, ushering in the era of the “always-on” internet and “on-demand” services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech-enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away.

The 6 gig economy stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 1% while next quarter’s revenue guidance was 0.6% below.

While some gig economy stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.1% since the latest earnings results.

Fiverr (NYSE: FVRR)

Based in Tel Aviv, Fiverr (NYSE: FVRR) operates a fixed price global freelance marketplace for digital services.

Fiverr reported revenues of $107.9 million, up 8.3% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with a solid beat of analysts’ EBITDA estimates but a decline in its buyers.

“With AI continuing to run through every facet of the business, our commitment to driving AI transformation and re-accelerating GMV growth is as focused as ever. Our recent strategic restructuring has prepared us to further this transformation and truly establish an AI-first mentality. What the market wants is clear, high-quality specialized talent, and the intentional investments we are making are already allowing us to capture these higher-value client projects,” said Micha Kaufman, founder and CEO of Fiverr.

Fiverr scored the highest full-year guidance raise of the whole group. The company reported 3.3 million active buyers, down 12.6% year on year. Unsurprisingly, the stock is up 3.8% since reporting and currently trades at $22.44.

Is now the time to buy Fiverr? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Upwork (NASDAQ: UPWK)

Formed through the 2013 merger of Elance and oDesk, Upwork (NASDAQ: UPWK) is an online platform where businesses and independent professionals connect to get work done.

Upwork reported revenues of $201.7 million, up 4.1% year on year, outperforming analysts’ expectations by 4.3%. The business had a strong quarter with an impressive beat of analysts’ EBITDA estimates and full-year EBITDA guidance exceeding analysts’ expectations.

Upwork achieved the biggest analyst estimates beat among its peers. On a dimmer note, the company reported 794,000 active customers, down 7.1% year on year. The market seems happy with the results as the stock is up 10.1% since reporting. It currently trades at $17.20.

Is now the time to buy Upwork? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Angi (NASDAQ: ANGI)

Created by IAC’s mergers of Angie’s List and HomeAdvisor, ANGI (NASDAQ: ANGI) operates the largest online marketplace for home services in the US.

Angi reported revenues of $265.6 million, down 10.5% year on year, falling short of analysts’ expectations by 1.2%. It was a slower quarter as it posted a decline in its requests and a significant miss of analysts’ number of service requests estimates.

Angi delivered the weakest performance against analyst estimates and slowest revenue growth in the group. The company reported 4.14 million service requests, down 7.7% year on year. As expected, the stock is down 13.1% since the results and currently trades at $11.19.

Read our full analysis of Angi’s results here.

DoorDash (NASDAQ: DASH)

Founded by Stanford students with the intent to build “the local, on-demand FedEx", DoorDash (NYSE: DASH) operates an on-demand food delivery platform.

DoorDash reported revenues of $3.45 billion, up 27.3% year on year. This number topped analysts’ expectations by 2.6%. More broadly, it was a slower quarter as it produced EBITDA guidance for next quarter missing analysts’ expectations significantly.

DoorDash pulled off the fastest revenue growth among its peers. The company reported 776 million service requests, up 20.7% year on year. The stock is down 17.8% since reporting and currently trades at $195.49.

Read our full, actionable report on DoorDash here, it’s free for active Edge members.

Uber (NYSE: UBER)

Notoriously funded with $7.7 billion from the Softbank Vision Fund, Uber (NYSE: UBER) operates a platform of on-demand services such as ride-hailing, food delivery, and freight.

Uber reported revenues of $13.47 billion, up 20.4% year on year. This print surpassed analysts’ expectations by 1.5%. Aside from that, it was a satisfactory quarter as it also produced strong growth in its users but a slight miss of analysts’ EBITDA estimates.

The company reported 189 million users, up 17.4% year on year. The stock is down 7.8% since reporting and currently trades at $91.96.

Read our full, actionable report on Uber here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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