Freelancer Ltd. (AU:FLN) has released an update.
Freelancer Ltd. reported a 25.9% increase in Gross Merchandise Volume (GMV) for the third quarter of 2024, driven by a strong performance from Escrow.com, which saw GMV rise by 31.2%. Despite a decline in GMV for its core Freelancer platform, the company achieved a positive net profit after tax and improved its cash flow position, ending the quarter with $21.7 million in cash and equivalents. This performance highlights the company’s resilience and strategic focus in securing large-value payments through its diverse service offerings.
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