FLNCF Freelancer Ltd (QX)

Market Announcement | 20 April 2021

April 20, 2021 -- InvestorsHub Newswire -- Freelancer Limited (ASX: FLN ; OTCQX:FLNCF) delivers Gross Payment Volume in 1Q21 of an all-time record of US$192.9 million (up 39.0% on pcp, unaudited) or AU$249.7 million (up 18.8% on pcp):

• Freelancer GMV of US$25.9m (up 23.6% on pcp) or AU$33.6m (up 5.1% on pcp)
• Escrow GPV an all-time record US$158.2m (up 43.7% on pcp) or AU$204.8m (up 23% on pcp)
• Escrow GPV ex-China an all-time record of US$151.1m (up 48.7% on pcp)

Group net cash receipts for 1Q21 all-time records of US$12.0 million (up 32.1% on pcp) or AU$15.6 million (up 12.4% on pcp):

• Freelancer cash receipts all-time record of US$10.1 million (up 31.4% on pcp) or AU$13.1 million (up 11.8% on pcp)
• Escrow cash receipts all-time records of US$1.9 million (up 36.0% on pcp) or AU$2.4 million (up 15.8% on pcp)

In Australian dollars, FX was a headwind of -17.4% in the quarter as the Australian dollar appreciated against the USD from 0.6581 to 0.7726.

Approximately 72% of group revenue is USD and 4% is AUD.

The group had positive net operating cash flow of $4.2 million for the quarter (1Q20: $0.47 million). It ended 1Q21 with cash and cash equivalents of $37.8 million, up 8.2% on pcp. Escrow was profitable in 1Q21.

For the full announcment click here

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