Freelancer (ASX: FLN)

Currency in AUD

Last close As at 26/09/2023

AUD0.21

−0.02 (−6.82%)

Market capitalisation

AUD92m

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, uniquely positioned as it is fully licensed in every US state, Canada and Australia.

Latest Insights

TMT | Initiation

Freelancer — Building the Amazon of Services

edison tv

Freelancer – executive interview

Sector

TMT

Equity Analyst

Max Hayes

Max Hayes

Associate Analyst

Key Management

  • Matt Barrie

    CEO

  • Neil Katz

    CFO

Balance Sheet

Forecast net cash (A$m)

19.7

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (4.7) 7.9 (19.6)
Relative (3.4) 8.3 (25.9)
52 week high/low A$0.3/A$0.2

Financials

Freelancer.com is one of the world’s largest marketplaces for freelancers. It has grown through a buy and build model, refining acquired businesses (Escrow.com, Loadshift) and developing products internally, such as its Enterprise platform, InSource. Management’s goal is to develop the Amazon of services; it currently operates in the labour, payments and freight markets, some of the largest markets globally. Our forecasts indicate a return to volume growth and a move to operating EBITDA profitability in FY23 as recent initiatives start to bear fruit.

Y/E Dec Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 57.4 (2.7) (3.0) (0.66) N/A N/A
2022A 55.7 (6.6) (6.9) (1.52) N/A N/A
2023E 54.8 0.3 0.1 0.01 2050.0 N/A
2024E 59.5 1.8 1.5 0.24 85.4 N/A

Thematics

thematic

TMT

MediaWatch – April 2023

Digital Marketing and Internet Media Technology Platform

thematic

TMT

MediaWatch – January 2023

thematic

Consumer

IPO apocalypse

thematic

TMT

ESG, moving beyond the box tick

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