Freelancer Limited (FLN) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the Freelancer Limited 2024 4-Year Financial Results. My name is Matt Barry. I'm the Chief Executive and Chairman of Freelancer Limited. Today with me in the room I have Neil Katz, the Chief Financial Officer of the business, Adam Burns, who's the VP of Product, Andrew Bateman, who's second in charge of Product and also in charge of Enterprise, and August Pial, who runs Escrow. As usual, in the Q&A you may direct your questions to anyone in the room when the Q&A starts. So I'll get into it straight away. What we're trying to do at Freelance Limited is we're trying to build many Amazon services. We're in the fields of labour payments and freight, which are all very, very broad, large industries that all businesses need, large and small. In the full year of 2024, I think we had fairly strong foundations for a great year coming up in FY25, as you'll see in a second. The gross marketplace value was $948.6 million, quite an amount of cash goes to the bank accounts. It's down 7.1% on FY23. The revenue was $53.1 million, which is slightly down at 4.2% on FY23. The NPAT was flat at 800k negative, but in the second half it turned positive for the year. So it was actually a fair bit of a turnaround as you'll see in the rest of the narrative here on the four year results. The operating profit excluding unrealised FX losses was positive 0.8 million, which is up 19% on last year's results. The operating cash flow was 5.8 million, up 205% on last year's results. Cash flow was positive at $0.8 million, which is a fairly big turnaround on a negative number of last year. And the cash balance was $23.2 million, up 9.5% from the first half with no net debt. So we're in a position where we're a leaner business and we've got some good numbers starting to flow through...