Usual excuses - there is always some "technical thing we were...

Usual excuses - there is always some "technical thing we were doing wrong and are now going to fix", as well as some new graphs to admire ("Non Rookie Users Milestone Count"). We also had the usual attempt to jazz life back into the SP by MB buying a small parcel of it. It's a bad sign for marketplaces to be contracting, as it lessens the network effect; bad news leads to more bad news. FLN is now a #4 off-brand for freelancers who can't make it on Toptal, UPWK or FVRR.

7% of group revenue is AUD. This covers 100% of Freightlancer, so it's a glimpse of a number connected to revenue/profit of Freightlancer. 7% of group revenue is $A945K for the quarter; that's total Escrow+Freelancer in Australia activity plus all of Freightlancer. Since they haven't reported % revenue for AUD often (FY2021 was also reported and works out at $A3.4 for the whole year) it's hard to know what that means.

Net tangible assets were $A-5.5M at the half year, and they just lost another 3.2M. I would expect net tangible assets to be at (8.7M). FLN now has positive net assets only due to valuing "goodwill and domain names" at $34M. Some of the goodwill dates back to prior to 2010-2012. They "test it for impairment", but they've never written it down. So all those things they bought: "DoNanza", Warrior Forum, EUFreelance.com, etc. etc. - that stuff supposedly has some value that's not captured by today's FLN revenue streams.