Freelancer 3Q26 Returns to Operating Profit as Costs Fall

Freelancer (ASX:FLN)'s September quarter update shows its cost program returning the group to a small operating profit while revenue fell, with the core Freelancer marketplace still weighed down by issues identified at the half year.

Operating expenses fell 11.0% to A$8.9 million, with employee expenses down 17.5% and hosting down 9.6%. Group Gross Marketplace Value (GMV) rose 13.0% to A$244.9 million (US$172.9 million, up 21.9%). Group revenue declined 17.2% to A$11.1 million and gross profit fell 16.1% to A$9.6 million, with a weaker US dollar reducing reported Australian dollar results, the company says. EBITDA was A$0.7 million (3Q25: A$1.4 million) and operating profit was A$0.1 million (3Q25: A$0.5 million), compared with an operating loss of A$0.3 million in 1H26. Escrow.com grew GMV 18.6% to A$216.9 million and Loadshift recorded record quarterly revenue and GMV. Freelancer marketplace revenue declined 26.3%. Cash was A$16.5 million at 30 September 2026 and the group remains debt-free. The figures are unaudited.

Operating profit remains below the prior corresponding period. The company says login friction, platform stability and card acceptance have improved, but demand has not yet followed and the improvements are expected to take time to flow through to financial results.