Here's an interesting question: what does Freightlancer make in...

Here's an interesting question: what does Freightlancer make in revenues?

Some data points: Channel 40 acquisition notes that the 'immediately rebranded as Freightlancer' business contributed revenues of $58,000 for the period 20 November 2018 to 31 December 2018. $58K in 41 days would yield around $A516K per year, if it was representative.

Amazingly, this is a company that was purchased for $A40K, which is essentially nothing. The suggestion seems to be that Channel 40 was deep underwater - it had an unsecured loan from the shareholders for a $A121K when FLN bought it.

Loadshift acquisition was a bigger deal, but the $A0.6M it made from 24 May 2021 to 31 December 2021 suggests an annual run rate of $A991K, and this was a serious purchase at $A7.6M.

Periodically FLN discloses how much revenue is made in AUD or USD (not total revenue turned into one currency or another). It doesn't always happen, but 1H23 shows $A1.9M for the half and 1Q21 (the first time they disclosed AUD vs USD revenue, and prior to Loadshift acquisition) was $A624K for the quarter. There's a huge scope for error (a lot of 1 decimal place calculations here) but it suggests $A850K per quarter recently and thus $A225K more since buying Loadshift (which, annualized to $A900, lines up neatly with the annual run rate of $A991K).

Obviously this assumes all the change in AUD-sourced revenue was Freightlancer not traditional FLN or Escrow (could be bigger if marketplace/Escrow was otherwise shrinking, or small if it grew in AUD).

They are claiming Freightlancer is doing better in 3Q23, so whatever the numbers are may have gone up.

I'm guessing $A1.0M - $A1.5M for Freightlancer. Not hard to see how you could break even on that given much of the infrastructure is already built for marketplace. Thoughts?