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View All NewsFreelancer net revenue rises 37% in 2016
February 23, 2017
Online staffing platform Freelancer Ltd. reported net revenue rose 36.6% in 2016 to AUD 52.7 million (US$38.1 million). The Sydney, Australia-based firm reported the number of jobs posted rose 33% from the previous year to a total of 10.6 million.
| AUD thousands | 2016 | 2015 | % change | 2016 US$ |
| Net revenue | $52,749.0 | $38,604.0 | 36.6% | $38,117.0 |
| Gross profit | $45,551.0 | $33,479.0 | 36.1% | $32,915.6 |
| Gross margin | 86.4% | 86.7% | ||
| Total comprehensive loss for the year | -$1,211.0 | -$2,859.0 | nm | -$875.1 |
Freelancer in the fourth quarter expanded its footprint in the Latin American, Spanish and Portuguese markets by acquiring the Nubelo and Prolancer freelancing marketplaces. The acquisitions added 750,000 new users to the 1.8 million Latin American, Spanish and Portuguese users already on Freelancer.
Freelancer shares closed at AUD 0.835 (US$0.64), up 5.7% on the day. Based on its current share price the company has a market value of AUD 380.7 million (US$292.6 million).