Freelancer Limited (FLN) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.120 Here we go. Hello and welcome to the Freelancer Limited third quarter of 2025 Business 00:00:05.120 -- 00:00:09.307 Update. My name is Matt Barrick. I'm the Chief Executive and Chairman of Freelancer Limited. 00:00:09.307 -- 00:00:13.695 Today with me in the room, I have our Chief Financial Officer, Neil Katz to my left. 00:00:13.695 -- 00:00:18.543 I have Andrew Bateman, who's VP of Product, as well as Adam Burns, VP of Product. 00:00:18.543 -- 00:00:21.646 but the strategy and product management side of things. 00:00:21.646 -- 00:00:27.112 I have Mas from Loadshift and from the Field Services Division of Freelancer 00:00:27.112 -- 00:00:32.157 and August Pial from escrow.com. And as always, at the end of the Q&A, you may 00:00:32.157 -- 00:00:36.121 address your questions to any of the executives in the room, or you may follow up if 00:00:36.121 -- 00:00:40.525 you'd like to do a one-on-one by emailing investor at freelancer.com. 00:00:40.525 -- 00:00:44.630 In the third quarter, which was the Northern Hemisphere summer quarter, so usually it 00:00:44.630 -- 00:00:47.534 is a little bit quiet, Group GMV was down 22.5%. 00:00:47.534 -- 00:00:52.846 That's primarily due to a single 50 million US dollar transaction 00:00:52.846 -- 00:00:56.574 that we lacked from the third quarter of 2024 from escrow. 00:00:56.574 -- 00:01:01.304 The freelancer GMV was up a little bit, 4%, almost 34.1 million. 00:01:01.304 -- 00:01:05.310 The escrow GMV lapped, obviously, that large transaction spike. 00:01:05.310 -- 00:01:08.515 And I will say, actually, we're looking at a reasonably large transaction happening in 00:01:08.515 -- 00:01:12.441 the next quarter. So you may see a reversal of that in Q4. 00:01:12.441 -- 00:01:15.525 Group revenue was b...