Australia – Freelancer Ltd. revenue up 1.5% in 2020; flat at Freelancer.com

February 22, 2021

Freelancer (FLN: ASX) reported a 1.5% increase in net sales for the full year 2020. Sales on its talent platform Freelancer.com remained unchanged. However, it rose 9% on Escrow.com’s payment platform.

The Sydney, Australia-based company reported a record gross payment volume of A $ 891.8 million in 2020, an increase of 13.2% year over year. The US dollar rose 12.9% to $ 618.5 million.

On Freelancer.com alone, the gross payment volume was AUD 192.1 million (USD 6.3 million), an increase of 5.9% over the previous year.

The gross payment volume is calculated as the total payments to freelancer or escrow users for products and services plus the total freelancer and escrow revenue.

(Thousand AUD) FY 2020 FY 2019 % Change FY 2020 (in thousands of USD)
revenue $ 58,771 $ 57,911 1.5% $ 45,030
Gross income $ 48,985 $ 48,456 1.1% $ 37,532
Gross margin 83.3% 83.7%
Total total loss for the year (966 USD) ($ 1,463) nm ($ 740)

Freelancer.com’s annual net revenue was A $ 50.5 million ($ 38.7 million), roughly the same as last year. The company was negatively affected in the first quarter of the year as Chinese freelancers struggled with work continuity during Covid. From the second through the fourth quarter, Freelancer.com revenue in US dollars, the company’s primary operating currency, increased 10% year over year.

The total number of items on display increased 13% to A $ 19.1 million.

Sales by segment

(Thousand AUD) FY 2020 FY 2019 % Change FY 2020 (in thousands of USD)
Online marketplace $ 50,526 $ 50,446 0.2% $ 38,713
Online payments $ 8,244 $ 7,563 9.0% $ 6,316

Share price and market capitalization

The shares of Freelancer Ltd. rose 3.77% to AUD 0.55 (USD 0.43) as of 11:14 p.m. GMT. They were 26.67% below their 52-week high, according to FT.com. The company had a market capitalization of A $ 228.2 million ($ 179.5 million).

March 31, 2021