Freelancer Limited's 3Q24 financial performance

Freelancer (ASX:FLN) has announced significant growth in its third quarter of 2024. The company reported a Gross Merchandise Volume (GMV) of $279.8 million, a 25.9% increase compared to the previous year. Escrow.com was a key driver, with its GMV rising by 31.2% to $247 million. The group achieved positive net profit after tax and a net operating cash flow of $2.3 million for the quarter.

Freelancer's strategic outlook and forward plans

Freelancer (ASX:FLN) demonstrated robust growth in Q3 2024 with a 25.9% increase in GMV, largely attributed to Escrow.com. Despite a slight decline in Freelancer's GMV, the company maintained positive financial metrics, including a positive NPAT and increased cash flow. The firm continues to focus on user retention and product quality, integrating AI technologies to boost efficiency and user experience. With new enterprise and government engagements, Freelancer is expanding its market presence. Looking forward, the company aims to leverage AI advancements and evolving market dynamics to sustain growth and innovation.

Executive insights on Freelancer's performance

In Q3, we delivered positive NPAT and operating cash flow, driven by strong performance in Escrow.com. Our focus on product quality and AI integration continues to enhance user experience and operational efficiency.