Freelancer

Freelancer (ASX: FLN)

Currency in AUD

Last close As at 04/12/2023

AUD0.21

— 0.00 (0.00%)

Market capitalisation

AUD95m

Overview
Price performance
Financials
Research
Thematics

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 |
Update

24.10.23

Freelancer — Delivering on cash and profit targets

TMT |
Initiation

24.07.23

Freelancer — Building the Amazon of Services

edison tv

05.07.23

Freelancer – executive interview

Visit Website

Sector

TMT

Equity Analyst

Max Hayes

Associate Analyst

Key Management

Matt Barrie

CEO
Neil Katz

CFO

Balance Sheet

Forecast net cash (A$m)

24.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(4.5)	(2.3)	(19.2)
Relative	(7.6)	0.0	(17.0)
52 week high/low	A$0.3/A$0.2

Financials

Freelancer achieved a key profitability target in Q323 by delivering positive operating EBITDA across divisions, leading to positive operating cash flow generation and an uplift in gross cash. Despite lower group gross merchandise value (GMV), revenue likely grew given the higher take rate of the marketplace division, where GMV increased. Near-term pipeline highlights include accelerating Enterprise momentum from US expansion and a Chinese retailer partnership, Loadshift’s ongoing marketplace transition and new Escrow.com partnerships to drive diversification.