Freelancer Ltd. (AU:FLN)
ASX:FLN
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Freelancer
(Sydney:FLN)
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Rating:57Neutral
Price Target:
AU$0.14
▼(-41.67% Downside)
Action:ReiteratedDate:04/11/26
The score is driven primarily by improving financial performance (turnaround to profitability, strong 2025 revenue growth, better leverage, and healthy cash generation) and constructive earnings-call guidance focused on scaling profitability. These positives are materially offset by weak technicals (clear downtrend with negative momentum) and a high P/E with no dividend support, which reduce near-term attractiveness.
Positive Factors
Profitability recovery
Turning to a record NPAT and materially higher operating profit demonstrates the company has moved beyond prior loss cycles. Lasting profitability improves internal funding capacity, reduces refinancing needs, and gives management optionality to scale product and enterprise initiatives over the coming 2–6 months.
Negative Factors
Declining group GMV
A 7.1% decline in GMV signals weaker transaction throughput, which directly pressures marketplace fee revenue over time. If GMV contraction persists it can offset revenue gains from pricing or product changes, requiring sustained product or marketing investment to restore transactional scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability recovery
Turning to a record NPAT and materially higher operating profit demonstrates the company has moved beyond prior loss cycles. Lasting profitability improves internal funding capacity, reduces refinancing needs, and gives management optionality to scale product and enterprise initiatives over the coming 2–6 months.
Read all positive factors
Freelancer (FLN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$67.64M
Dividend YieldN/A
Average Volume (3M)65.38K
Price to Earnings (P/E)47.9
Beta (1Y)0.47
Revenue Growth3.81%
EPS GrowthN/A
CountryAU
Employees318
SectorCommunication Services
Sector Strength97
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)<0.01
Shares Outstanding450,914,900
10 Day Avg. Volume28,495
30 Day Avg. Volume65,378
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)4.54
Price to Sales (P/S)1.95
P/FCF Ratio13.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)AU$57.56M
Freelancer Business Overview & Revenue Model
Company Description
Freelancer (FLN) is a leading online marketplace that connects freelancers with businesses and individuals seeking various services in sectors such as technology, creative design, writing, marketing, and more. The platform enables users to post pr...
How the Company Makes Money
Freelancer makes money primarily by monetizing transactions and activity on its online marketplaces. Key revenue streams include: (1) Marketplace fees on Freelancer.com: the company charges fees associated with projects and payments processed thro...
Freelancer Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 21, 2026
Earnings Call Sentiment Positive
The call presented a clear operational and financial turnaround: record NPAT, double-digit improvements in several profit and cash-flow metrics, strong product and AI-driven innovation, and notable momentum in Escrow and Loadshift. Offsetting these positives are declines in group GMV and Escrow GPV year-over-year, early signs of softness in Freelancer acquisition and conversion frictions driven by auto-bidders/AI, some cash/lease outflow pressure, and timing delays on certain large enterprise task orders. On balance, the positive profitability, cash-flow improvements, product launches, and strategic progress outweigh the headwinds, though execution risks and enterprise timing remain to be managed.Positive Updates
Record Net Profit After Tax
All-time record NPAT of $2.2 million (turnaround from a small loss in the prior year), demonstrating a significant profitability recovery for FY2025.
Negative Updates
Group GMV Decline
Group gross marketplace volume (cash to the business) was $881.5 million, down 7.1% year-over-year, indicating lower overall transaction volume despite revenue growth.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Net Profit After Tax
All-time record NPAT of $2.2 million (turnaround from a small loss in the prior year), demonstrating a significant profitability recovery for FY2025.
Read all positive updates
Company Guidance
Guidance from the call emphasized targets and product-driven growth: management is pushing to achieve a sustainable operating profit of $0.5m per month (they’re “about 2/3 of the way there”), with FY‑26 a year to “double down” on profitability after FY‑25’s record NPAT of $2.2m and operating profit (ex‑unrealized FX) of $2.0m (up 162%); operating cash flow was $7.7m (+32%) and cash/equivalents $22.9m. Key growth levers are AI and product rollouts (client‑initiated audio/video now live, Prototyper and AI bidding/matching changes rolling out in the next two weeks), expanding Escrow merchant and checkout integrations, migrating Escrow to the Freelancer stack to unify payments/KYC, and accelerating Loadshift (ownership increased to 73.4% after a $1.5m buyback) which management expects to have a breakout year in 2026 and plans to enter Canada next. They reiterated metrics showing scale to exploit (group GMV $881.5m, Freelancer GMV $133.4m, group revenue $55.3m, Freelancer revenue $40.9m, Escrow revenue $12.3m up 18.8%), marketplace momentum (7.32m new users, 666k new projects, average project size USD $413 up 19.4%, 54 bids/project up 8%, contests 761 entries up 50%), noted AI jobs are ~5% of GMV, and flagged near‑term strength in Escrow and Loadshift with SEM at record levels while Freelancer lags but should benefit from the upcoming matching/bid‑quality improvements.Freelancer Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 53.21M | 51.00M | 53.33M | 55.66M | 57.42M |
| Gross Profit | 19.91M | 41.79M | 44.24M | 14.98M | 17.04M |
| EBITDA | 5.21M | 54.00K | 4.79M | -905.00K | 1.78M |
| Net Income | 2.17M | -814.00K | 189.00K | -5.41M | -2.26M |
Balance Sheet | |||||
| Total Assets | 77.68M | 83.96M | 88.68M | 97.05M | 105.33M |
| Cash, Cash Equivalents and Short-Term Investments | 22.93M | 23.16M | 21.15M | 23.36M | 30.32M |
| Total Debt | 9.38M | 12.40M | 17.15M | 21.20M | 21.91M |
| Total Liabilities | 51.66M | 57.25M | 61.86M | 70.58M | 74.00M |
| Stockholders Equity | 22.83M | 22.92M | 23.15M | 22.79M | 27.66M |
Cash Flow | |||||
| Free Cash Flow | 7.45M | 5.75M | 1.82M | -4.33M | -5.45M |
| Operating Cash Flow | 7.73M | 5.85M | 1.87M | -4.18M | 2.64M |
| Investing Cash Flow | -295.00K | -92.00K | -53.00K | -149.00K | -8.09M |
| Financing Cash Flow | -6.91M | -4.96M | -4.20M | -3.85M | 508.00K |
Freelancer Technical Analysis
Negative
0.24
Price Trends
0.18
Negative
0.21
Negative
0.23
Negative
Market Momentum
-0.01
Negative
24.24
Positive
78.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FLN, the sentiment is Negative. The current price of 0.24 is above the 20-day moving average (MA) of 0.16, above the 50-day MA of 0.18, and above the 200-day MA of 0.23, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 24.24 is Positive, neither overbought nor oversold. The STOCH value of 78.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:FLN.
Freelancer Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$215.41M | 5.06 | 12.32% | 4.11% | 27.05% | 520.93% | |
62 Neutral | AU$224.11M | 43.95 | 10.41% | 0.11% | 24.47% | 21.28% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | AU$67.64M | 47.90 | 9.18% | ― | 3.81% | ― | |
45 Neutral | AU$21.23M | -4.06 | -26.25% | ― | -13.52% | 7.82% |
* Communication Services Sector Average
AU:FLN
Freelancer
0.14
-0.09
-40.00%
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Freelancer Corporate Events
Freelancer Director Barrie Increases Indirect Shareholding via On-Market Trade
Apr 1, 2026
Freelancer Limited disclosed a change in director Robert Matthew Barrie’s indirect shareholding following an on-market trade executed on 30 March 2026. Through entities Infilsec Pty Ltd and Taipan Investment Management Pty Ltd, where he is s...
Freelancer Director Robert Barrie Increases Indirect Shareholding
Mar 24, 2026
Freelancer Limited has reported a change in the indirect shareholding of director Robert Matthew Barrie, who controls his interests through entities Infilsec Pty Ltd and Taipan Investment Management Pty Ltd. The update confirms Barrie’s ongo...
Freelancer Names Fintech Veteran Dylan Carter as New CFO to Lead Next Growth Phase
Mar 18, 2026
Freelancer Limited, the ASX-listed operator of a global freelancing and crowdsourcing marketplace, complements its core platform with Escrow.com for secure online payments and Loadshift, a leading Australian heavy haulage freight marketplace. The ...
Freelancer Director Robert Barrie Increases Indirect Shareholding via On-Market Trade
Mar 3, 2026
Freelancer Limited has disclosed a small on-market share purchase by director Robert Matthew Barrie, made through his controlled entities Infilsec Pty Ltd and Taipan Investment Management Pty Ltd. Following the 26 February 2026 transaction, Barrie...
Freelancer Trumpets Scale and Awards as It Pushes ‘Amazon of Services’ Vision
Feb 24, 2026
Freelancer highlights its scale as the self-styled “Amazon of Services,” combining labor, payments, and freight under one umbrella to serve a global customer base. It reports US$7.9 billion in secure escrow transactions, over US$5 bill...
Freelancer Swings to Record Profit on Escrow.com Surge and Loadshift Gains
Feb 24, 2026
Freelancer Limited reported FY25 group GMV of $881.5 million, down 7.1% year on year, but lifted revenue 4.1% to $55.3 million on record sales at Escrow.com and steady growth in its core Freelancer marketplace. The company delivered an all-time re...
Freelancer Returns to Profit on Modest Revenue Growth in 2025
Feb 24, 2026
Freelancer Limited reported revenue of $55.26 million for the year ended 31 December 2025, a 4.1% increase from 2024, reflecting modest top-line growth in its online freelancing marketplace operations. The company’s net result swung to a pro...
Freelancer CFO Neil Katz to Exit After 16 Years as Company Begins Succession Search
Feb 24, 2026
Freelancer Limited announced the resignation of long-serving Chief Financial Officer Neil Katz, who joined in 2009 and became full-time ahead of the company’s 2013 IPO on the ASX. Over 16 years, Katz helped build the group’s financial ...
Freelancer Sets Date for FY25 Results and Investor Call
Feb 22, 2026
Freelancer Limited has scheduled the release of its FY25 financial results for Wednesday, 25 February 2026, signaling an upcoming update on its financial performance and operational trends. The company will host an investor conference call at 9:00...
Glossary
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.