Reports due soon, page-105

More Airtasker IPO details emerging:

	Column 1	Column 2	Column 3	Column 4
0	Airtasker	2018/19 A	2019/20 A	2020/21 F
1	Revenue	Not seen	$19.3 million	$24.5 million
2	(Loss) after-tax	-$27.2 million	-$5.2 million	-$6.2 million

FLN comparatives:

	Column 1	Column 2	Column 3	Column 4
0	FLN	2018 A	2019 A	2020 E #
1	Revenue	$51.9 million	$58 million	$59.4 million
2	Profit / (Loss) after-tax	-$1.5 million	-$1.6 million	$3.5 million

# Adjusted for $1.1 million in overdue funds received in early Jan21

FLN MC is trading at a P/Sx of ~ 4x compared to Airtasker's IPO P/Sx of ~ 11x on 2020/21F (or ~14x on 2019/20A).

A similar P/Sx multiple to loss-making Airtasker (comparable to that of UPWK) would put profitable FLN in the mid $1ps range.



DYOR