Curated News
By: NewsRamp Editorial Staff
February 26, 2025
Freelancer Limited Sees Positive Growth in FY24 Financial Results
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- Freelancer Limited delivered $948.6 million GMV in FY24, positioning for growth with 18.6% increase in new client deposits.
- Freelancer Limited achieved 2H24 profitability with cost efficiencies and AI integration, reducing operating costs by 5.8% compared to FY23.
- Freelancer's strategic AI integration enhances marketplace skills, liquidity, and quality, setting the stage for future growth and better services.
- Freelancer Limited, a mini Amazon of services, connects 79 million users globally, paving the way for innovative projects and seamless solutions.
Impact - Why it Matters
This news matters as it showcases Freelancer Limited's strong financial performance for FY24, despite a revenue decline. The significant improvement in profitability, cash reserves, and reduction in operating costs position the company well for future expansion and growth in FY25.
Summary
Freelancer Limited (ASX: FLN) (OTCQX: FLNCF) delivered Gross Marketplace Value (GMV) of $948.6 million in FY24, with revenue at $53.1 million. Despite revenue decline, 2H24 profitability improved significantly. Cash reserves increased by 9.5% to $23.2 million. Operating costs were reduced by 5.8% compared to FY23, setting the Group up for expansion in FY25.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Freelancer Limited Sees Positive Growth in FY24 Financial Results
