Edison Investment Research - Freelancer (FLN) Freelancer - Delivering on cash and profit targets

Report

Edison Investment Research

Richard Williamson

Freelancer - Delivering on cash and profit targets

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.

24/10/2023 1 EN

Underlying

Freelancer

Freelancer is a for-profit entity and primarily is involved in operating an online marketplace for services and providing escrow payment services.

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AU000000FLN2 Australian Securities Exchange Australia

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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Freelancer - Delivering on cash and profit targets

Freelancer - AI to drive return to growth

Freelancer - Primed for margin expansion

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

AAC Clyde Space - Solid start to the year with further order growth

Tinexta - Typical seasonality in Q124

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