Freelancer Limited (FLN: ASX), which operates the Australia-based Freelancer.com talent platform, reported group cash receipts for the third quarter ending 30 September 2022 of AUD 13.7 million (USD 8.7 million), up 1.2% on the previous corresponding period.

The Freelancer Group primarily consists of Freelancer; Escrow.com, which facilitates and secures large value payments; and Loadshift, an online freight marketplace.

Freelancer cash receipts were AUD 11.4 million (USD 7.2 million) up 2.0% on the prior year. Escrow.com cash receipts fell by 2.6% to AUD 2.3 million (USD 1.4 million).

Freelancer Limited delivered Gross Marketplace Volume in Q3 2023 of AUD 222.3 million (USD 141.3 million), down 3.0%. When broken down by segment, Freelancer recorded AUD 34.1 million (USD 21.7 million), up 8.4% over the year. Escrow.com saw revenue fall 4.8% over the year to AUD 188.2 million (USD 119.6 million).

The group had positive operating cash flow of AUD 1.0 million (USD 635,909) for Q3 2023, compared to a loss of AUD 3.2 million the year prior. Each business division achieved positive EBITDA for the quarter.

Freelancer noted that the Loadshift business has now completed a year since it merged with the Freelancer enterprise stack and continued to show robust growth as it transitioned to the marketplace model.

In Q3 2023 the group added 1.6 million new users and 208,000 new projects to the marketplace.

Freelancer shares closed today at AUD 0.22 (USD 0.14), up 12.82% on the day and 18.92% above the 52 week low of AUD 0.185 (USD 0.12) set on 26 June 2023. The company has a market cap of AUD 87.93 million (USD 55.9 million).