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Freelancer Ltd. revenue up 3% in 2018

February 19 2019

Freelancer Ltd., the operator of online staffing provider Freelancer.com, reported full-year revenue rose 3.1% in 2018 to AUD$50.9 million (US$36.5 million). Net loss for the year at the company also narrowed.

(AUD$ thousands) FY 2018 FY 2017 % growth FY 2018 (US$ 000s)
Net revenue $51,851 $50,270 3.1% $36,463
Gross profit $44,200 $44,050 0.3% $31,082
Gross margin 85.2% 87.6%    
Total comprehensive loss for the period ($1,483) ($4,751) nm -$1,043

Gross payment volume for the year rose 26.0% to AUD$740.6 million (US$520.8 million). Gross payment volume is calculated as the total payments to Freelancer and Escrow.com users for products and services transacted through the Freelancer and Escrow websites plus total Freelancer and Escrow revenue. Freelancer in 2015 acquired Escrow.com, a provider of secure online payments in the US.

Revenue by segment

(AUD$ thousands) FY 2018 FY 2017 % growth FY 2018 (US$ 000s)
Online marketplace  $44,667 $43,850 1.9% $31,411
Online payments  $7,184 $6,420 11.9% $5,052

Quote

“For Freelancer.com, marketplace health is improving and growth is returning to trend,” the company stated. “We are excited in particular about the build out of collaborative tools, usability improvements, mobile, performance, managed service, API (application programming interface) and enterprise offerings.”

Share price and market cap

Freelancer shares closed up 1.56% at AUD 65 cents today in Australia; the company had a market cap of AUD$290.3 million, according to FT.com.

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