Freelancer (ASX: FLN)

Currency in AUD

Last close As at 04/12/2023

AUD0.21

0.00 (0.00%)

Market capitalisation

AUD95m

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

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Equity Analyst

Max Hayes

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.

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 35.8
2022A 55.7 (6.6) (6.9) (1.52) N/A N/A
2023E 54.8 0.3 0.1 0.01 2100.0 21.8
2024E 59.5 1.8 1.5 0.24 87.5 17.5

Research

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MediaWatch – April 2023

Digital Marketing and Internet Media Technology Platform

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MediaWatch – January 2023

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Consumer

IPO apocalypse

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ESG, moving beyond the box tick

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Direct tech investors

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Consumer

Circular economy business models

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Quantum dots – all the colours of the rainbow

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Micro-LEDs – small is beautiful

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Consumer

Illuminator: August Update

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European video games

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Diversification and scale for online success

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UK video games – Heterogeneous not homogeneous

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Mobile ecosystems

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Mobile ecosystems

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Mobile ecosystems

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NZ – Edison talks tech

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AUS – Edison talks tech

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Mobile ecosystems

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Consumer

Deutsche Börse Eigenkapitalforum 2014 Research Guide

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Mobile ecosystems

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Energy & Resources

ASX Spotlight Conference – London, 6 March 2014

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Energy & Resources

ASX Small to Mid Caps Conference – London, 7 March 2013

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The third pillar

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The real disruptor

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Merger mania is back