Freelancer Limited (FLN) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the Freelancer Limited full year of 2025 financial results. Apologies for the half an hour delay in getting going. We had some technical difficulties here in the conference room. Not sure what happened. We had a board meeting here last night and overnight the machine fried itself. So we've managed to sort that out and I do apologise for the waiting and we'll get going now. With me in the room today, I have Chief Financial Officer Neil Katz, Vice President of Products Andrew Bateman, August PR from escrow.com, and Mus from LoadShift. Today, this is the full year of 2025 financial results as we operate in a calendar year, and I'll get going. Financial highlights, the group gross marketplace volume, which is cash to the business, was $881.5 million, which is down 7.1% in FY24. The friends of GMB was up 2.3% at $133.4 million. Escrow was $748.1 million, down 8.6%. Group revenue was up 4.1% versus the full year 2024 at $55.3 million. Freelancer revenue was up slightly at $40.9 million. And escrow.com set an all-time record of $12.3 million, up 18.8%. We recorded an all-time record net profit up to tax of $2.2 million, which is up from a small loss in the prior year. Estro just completed its fifth year of consecutive profitability and is paying tax and going to its sixth year of profitability. And with low chips, we also achieved a maiden four-year profit. We also achieved an all-time record operating profit, excluding unrealized FX, of $2 million, which is up 162%. Operating cash flow was a positive $7.7 million, up 32% on PCP. Cash flow was $0.5 million versus $0.8 on PCP, but also included a net of $1.5 million in buyback of blockchain. to 73.4%. Cash-to-cash equivalence was $22.9 million, down 11.9% on the half year, but flat on the prior year, and...