Freelancer.com (FLN): Building the Amazon of services

DJ Freelancer (FLN): Building the Amazon of services

Edison Investment Research Limited Freelancer (FLN): Building the Amazon of services 26-Jul-2023 / 21:00 GMT/BST The issuer is solely responsible for the content of this announcement.
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London, UK, 26 July 2023

Freelancer (FLN): Building the Amazon of services. Freelancer.com is one of the world's largest marketplaces for freelancers. Structural tailwinds such as increased digitisation, remote working and a more globalised economy are providing businesses with the opportunity to seamlessly access specialised talent at low cost. Management's goal is to develop the Amazon of services; it currently operates in the labour, payments and freight markets, some of the largest markets globally. Our forecasts indicate a return to volume growth and a move to EBITDA profitability in FY23 as recent initiatives start to bear fruit.

Despite lower short-term forecast revenue growth and margin expansion compared to peers, we believe Freelancer's current share price does not reflect its long-term potential. Freelancer trades at a 60% discount to peers using EV/ sales, narrowing to 21% when compared to Upwork and Fiverr. Evidence of accelerating revenue growth across either division could act as a catalyst to the stock. Click here to view the full report.

All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Max Hayes [phone] [e-mail] Katherine Thompson [phone] [e-mail] Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv
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Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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1689133 26-Jul-2023

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July 26, 2023 16:00 ET (20:00 GMT)