In the last quarter in terms of USD FLN actually had -15% in...

In the last quarter in terms of USD FLN actually had -15% in cash receipts.

		FLN (AUD)	FVRR (USD)	UPWK (USD)	FLN (USD)	Total	AUD/USD
1	Revenue Jan-Mar 20	$13,852,000	$34,150,000	$83,196,000	$8,455,261	$125,801,261	0.6104
2	Revenue Jan-Mar 19	$13,986,000	$23,763,000	$68,476,000	$9,965,025	$102,204,025	0.7125
3	Change YoY	-$134,000	$10,387,000	$14,720,000	-$1,509,764	$23,597,236
4	Change YoY %	-0.96%	43.71%	21.50%	-15.15%	23.09%
5	Market Share Mar 20		27.1%	66.1%	6.7%
6	Market Share Mar 19		23.3%	67.0%	9.8%
7	Growth Captured		44.0%	62.4%	-6.4%

Well the difference between FVRR, UPWK and FLN is that one is growing very fast, another is growing at a reasonable pace and the other isn't growing. As for people saying that FVRR and UPWK need to raise cash you guys should probably look at their balance sheets as you will see that both are growing their cash piles due to the fact a chunk of their expenses are stock based compensation. As for the sustainability of their spend both have sales and marketing as a % of revenue falling so both are probably within 18 months of hitting the sweet spot where they will still be spending as they are to continue to attract new business and grow while becoming profitable.

Perhaps instead of buying more FLN you guys should consider buying into either FVRR or UPWK.