Online staffing platform operator Freelancer Ltd. (FLN:ASX) reported group net cash receipts for the fourth quarter of 2020 ended 31 December 2020 of AUD 14.3 million, down 0.9% over the previously corresponding period.

The group reported its cash receipts in both USD and AUD.

Cash receipts for the Freelancer online staffing segment (inclucing Startcon) were AUD 11.9 million (USD 9.1 million) (down 6.1% on the previous corresponding period). Reported in USD currency, cash receipts stood at USD 8.7 million (up 0.4%).

Cash receipts for the Escrow segment stood at USD 1.73 million (up 46.5%).

Gross payment volume for the fourth quarter stood at an all-time record of USD 191.8 million (up 47.5% unaudited) or AUD 261.8 million (USD 199.7 million) (up 37.7%).

Gross Payment Volume is calculated as the total payments to Freelancer or Escrow.com users for products and services transacted through the Freelancer or Escrow.com websites plus net revenue.

Gross marketplace volume (payments to freelancers) in Q4 2020 for the Freelancer online staffing segment was the second highest on record at USD 25.9 million (up 20.0%, unaudited) or AUD 35.5 million (27.0 million) (up 12.3%).

Escrow Gross Payment Volume was at an all-time record USD 156.6m (up 56.9%) or all-time record AUD 213.6 million (USD 163.1 million) (up 45.7%). Escrow Gross Payment Volume excluding China stood at an all-time record of USD 149.8 million (up 62.6%).

“In the quarter, Escrow Pay was the major focus for development as it is the highest demanded integration from our customers, including eBay and it’s the simplest way to add escrow payments to a website, mobile app, online store, classified site or marketplace,” the group stated.

The group had a positive net operating cash flow of AUD 0.1 million (USD 76,385) for the quarter and ended Q4 2020 with cash and cash equivalents of AUD 34.4 million (USD 26.2 million), up 7%.

The Freelancer segment, Escrow and the overall group were all profitable in 4Q20 and 2H20 (unaudited).

Shares in Freelancer closed at AUD 0.495 (USD 0.38), down 3.88% on the day and 34.00% below its 52-week high of AUD 0.75 (USD 0.57), set on 13 July 2020. The company has a market cap of AUD 232.70 million (USD 177.74 million).