$USD marketplace revenues are midway between what they were in...

$USD marketplace revenues are midway between what they were in 2016 and 2015, and fell from $USD35.3M in 2019 to $USD29.4M in 2024.

Whatever rising tide has lifted FVRR and UPWK revenues in the past 8 years, FLN missed it.

Trimming expenses means they can do this until MB retires. Until then he will pay himself >$A600K, talk a lot about AI (which is somehow "good" for the lowest-tier freelancing shop despite a lot of the work on FLN historically being "write a pile of random content that no-one reads"), and share his increasingly peculiar thoughts on politics and economics on Twitter.

There is no "leadership group". It's just Matt. The board is cronies, and "senior management" are a bunch of juniors promoted out of FLN's ranks who have never worked anywhere else.

The balance sheet is still scary. They've cleaned up $3M of user obligations, which is interesting (I have reason to suspect they are just closing people's accounts), but the cash pile is shrinking. So working capital and NTA are still a shitshow. This may tie into why they're cutting expenses rather than raising money. Instos generally want to see their money going to growth, not "getting the founder out of balance sheet trouble", and might raise an eyebrow at a company that has more "user obligations" than current assets.