Freelancer Ltd
ASX:FLN
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Freelancer Ltd
Freelancer Ltd. engages in the provision of online outsourcing marketplace and escrow payment services. The company is headquartered in Sydney, New South Wales and currently employs 465 full-time employees. The company went IPO on 2013-11-15. The firm connects employers and freelancers globally from over 247 countries, regions and territories. The company operates through two segments: online marketplace and online payment services. Through its marketplace, employers can hire freelancers to do work in areas such as software development, writing, data entry and design right through to engineering, the sciences, sales and marketing, accounting and legal services. The firm's online payment services, which includes the business of Escrow.com, is a regulated entity that holds funds on behalf of its users in trust bank accounts. Escrow.com is a provider of secure online payments and online transaction management. The company also operates Freightlancer.com and Loadshift, which is a global marketplace for freight, shipping and transportation spanning from enterprise haulage to consumer metro deliveries.
Freelancer Ltd. engages in the provision of online outsourcing marketplace and escrow payment services. The company is headquartered in Sydney, New South Wales and currently employs 465 full-time employees. The company went IPO on 2013-11-15. The firm connects employers and freelancers globally from over 247 countries, regions and territories. The company operates through two segments: online marketplace and online payment services. Through its marketplace, employers can hire freelancers to do work in areas such as software development, writing, data entry and design right through to engineering, the sciences, sales and marketing, accounting and legal services. The firm's online payment services, which includes the business of Escrow.com, is a regulated entity that holds funds on behalf of its users in trust bank accounts. Escrow.com is a provider of secure online payments and online transaction management. The company also operates Freightlancer.com and Loadshift, which is a global marketplace for freight, shipping and transportation spanning from enterprise haulage to consumer metro deliveries.
GMV Volatility: Group GMV dropped 22.5% to $216.8 million, mainly due to lapping a single $50 million escrow transaction in the prior year, but management expects a reversal with a large Q4 deal.
Stable Revenue: Group revenue was flat at $13.8 million, with Escrow.com up 2.9% and Freelancer.com down 2.2%.
Operational Profit: The company remained operationally profitable for the quarter, with operating cash flow of $1.6 million.
Cash Position: Cash and cash equivalents were $25.6 million, up 18% year-on-year but slightly down from Q2 due to share buybacks.
Marketplace Metrics: Freelancer saw a 3.9% GMV increase, record project liquidity (57 bids/project), and average project size up 17.8% quarter-on-quarter to $395.
AI Impact: AI-driven jobs and productivity are accelerating, with significant enhancements to be rolled out by year-end to boost client acquisition and retention.
Loadshift Growth: Loadshift posted record revenue, with September up 25% year-on-year and the platform achieving profitability.
Escrow Expansion: Escrow.com invested in payments infrastructure, launched 24/7 support, and is pushing new integrations with a solid B2B pipeline.
Positive Outlook: Management is confident about Q4, pointing to upcoming major transactions, new product launches, and further AI and payments improvements.
