ASX listed shares of online jobs platform Freelancer Ltd (ASX: FLN) fell 14% on Tuesday following the release of the company’s half-year report. Here are the key numbers from the result:
- Revenue fell 7% to $26.6 million
- A loss of $769,000 was reported
- Gross Payment Value on freelancer.com and escrow.com was $364 million, up 25%
Freelancer is an online jobs marketplace. It’s like the eBay of jobs.
In a presentation today, Freelancer CEO Matt Barrie said, “Freelancer was EBITDA positive on a monthly basis in [the] last 3 of 4 months.”
Barrie said Freelancer should report revenue growth year over year, from July 2018. He also said the group’s escrow.com business, which provides a service to allow secure online payments, had a bumper first half.
Looking towards the remainder of its 2018 financial year, Freelancer expects to break-even on an EBITDA basis.
Freelancer listed its shares on the ASX in 2014. However, its shares have been sold down since 2016 with the company failing to enthuse investors.
Nonetheless, Freelancer claims to have 4.3 million registered users with total jobs posted exceeding 12 million.