Freelancer Limited (OTCQX:FLNCF) Q4 2023 Earnings Conference Call February 26, 2024 7:00 PM ET

Company Participants

Matt Barrie – CEO

Shaun McMeeken – VP, Sales

Adam Byrnes – VP, Product and Growth

Neil Katz – CFO

Conference Call Participants

Matt Barrie

Hello and welcome to the Freelancer Limited Full Year of 2023 Financial Results Presentation. My name is Matt Barrie and I’m the Chief Executive of the company. Today with me in the room I have Neil Katz, the Chief Financial Officer. I have Andrew Bateman, who’s the Head of Enterprise Products. Shaun McMeeken, the VP of Sales. Adam Byrnes, who’s the VP of Product and Growth. And Cohen Wisniewski, who is the Head of Operations for Loadshift and for Freelancer.

As with all of our results presentations, you may address questions, to any of the executives in the room at the end in the Q&A, or to myself. And you may do so, through the facilities within Zoom.

So today, we delivered gross marketplace volume, of a bit over $1 billion $1020.7 million, down 4.8% on pcp. Freelancer was up 2.9%, to $132.1 million. Escrow was 888.6 million, down 5.8% on pcp. The group net revenue was $53.3 million, down 4.1% on pcp. Freelancer was down 2.8% on pcp, to $44.2 million. And the Escrow revenue was $9.1 million, down 9.9% on pcp.

The big result in these full year financial results, was a momentous turnaround in the net profit before tax, which lasted with negative $7 million. And this year, we egged out a small profit. And we continue, to build on that profit in the following in 2024. So the group, for those of you that are new investors, consists of three parts of the business. Freelancer.com, which is the world’s largest cloud workforce in the world, is about 72 million people.

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