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Freelancer (ASX: FLN)

Last close As at 04/10/2024

AUD0.18

— 0.00 (0.00%)

Market capitalisation

AUD82m

Freelancer is an Australian company operating one of the world’s largest online marketplaces for freelancers. Its marketplace division has two business units and the company also owns Escrow.com, which is a large transactions processor.

Structural tailwinds such as increased digitisation, remote working and a more globalised economy are providing businesses with the opportunity to seamlessly access specialised talent at low cost. Escrow.com operates a large-value transaction payment processing platform, which is uniquely positioned as it is fully licensed in every US state, Canada and Australia.

Latest Insights

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TMT | Outlook

Freelancer — Using AI to enhance revenue and profit growth

TMT | Update

Freelancer — AI to drive return to growth

TMT | Update

Freelancer — Primed for margin expansion

TMT | Update

Freelancer — Delivering on cash and profit targets
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Sector

TMT

Equity Analyst

Katherine Thompson

Key Management

  • Matt Barrie

    CEO

  • Neil Katz

    CFO

Balance Sheet

Forecast net cash (A$m)

22.5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (2.7) (2.7) (14.3)
Relative (4.3) (8.6) (26.8)
52 week high/low A$0.3/A$0.2

Financials

Freelancer reported a mixed performance in H124, with Escrow.com volumes down significantly after a very strong Q123, while the Freelancer platform benefited from growth in the Loadshift business. There are several promising opportunities in the enterprise business, including providing AI model training services and integration into new verticals within Escrow.com, that could reinvigorate growth from H224. The company recently announced that Escrow.com processed the highest value transaction in its 25-year history, a US$50m/A$74m IPv4 address block transfer to a multinational cloud provider, brokered by Brander Group.

Y/E Dec Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 55.7 (0.7) (6.9) (1.52) N/A N/A
2023A 53.3 6.8 0.3 0.06 300.0 16.5
2024E 51.5 6.0 0.2 0.02 900.0 17.1
2025E 53.5 6.2 0.7 0.11 163.6 16.1

Research

Update

TMT

Freelancer — AI to drive return to growth

Update

TMT

Freelancer — Primed for margin expansion

TMT

Outlook

Freelancer — Using AI to enhance revenue and profit growth

Update

TMT

Freelancer — Delivering on cash and profit targets

Initiation

TMT

Freelancer — Building the Amazon of Services

edison tv

Freelancer – executive interview

Thematics

thematic

TMT

MediaWatch – Encouragements and frustrations

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media
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