The back and forth between Matt and the UBS analysts is always...

The back and forth between Matt and the UBS analysts is always great to listen to

Key points from MB

• FLN is being managed at the "margin of profitability" and not burn cash like SV competitors
• Revenue growth will be a "slow burn" until spikes arrive from the growing enterprise customer base who have long lead times setup and usage. No guidance given but reading between the lines, 2020 late Q2/early Q3 seems likely
• Will not invest in marketing that does not deliver positive ROI within a specific timeframe
• Resource constrained on developers (front end upgrades delayed due to enterprise rollouts) and compliance (UK delayed to push California and Canada rollouts)
• Dropping 40 high risk countries from Escrow reduced GPV by 5%
• No dividends currently planned
• Expects a synchronised global recession within a year, positive for individual and enterprise freelancing, negative for escrow