Freelancer posted record net revenue of $16.8 million, up 41%, and hit positive cash for the six months to June.
The net loss for the six months was $1.263 million compared to $729,000 for the same period last year. However, the company had positive cash flow of $1.1 million over the six months.
The freelancing and crowdsourcing marketplace now has 16 million users and 8 million projects on its system, as this chart shows:
CEO and Chairman Matt Barrie says Freelancer consistently delivers high growth in revenue each year.
“We are proud of having proved this track record of high revenue growth yet again, and at an accelerating rate,” he says.
In line with its strategy of re-investing, the company continued to focus on product development, improved user experience, user and project acquisition and customer service.
Barrie says: “We are continuing to focus on the product, user experience, scalability and expanding the features of the marketplace offering. We will also continue to focus on expanding the functionality and penetration of our platform across mobile devices.”
The company’s share price was up 4.5% to 1.38.