Robert Barrie
Founder, Executive Chairman & CEO
Hello, and welcome to the Freelancer Limited Third Quarter of 2025 Business Update. My name is Matt Barrie. I’m the Chief Executive and Chairman of Freelancer Limited. Today with me in the room, I have our Chief Financial Officer, Neil Katz, to my left. I have Andrew Bateman, who is VP of Products; as well as Adam Byrnes, VP of Products, both strategy and product management side of things. I have Mas from Loadshift and from the Field Services division of Freelancer and August Piao from Escrow.com.
And as always, at the end of the Q&A, you may address your questions to any of the executives in the room or you may follow up if you like to do one-on-one by e-mailing investor@freelancer.com.
In the third quarter, which was the Northern Hemisphere summer quarter, so usually, it is a little bit quiet. The group GMV was down 22.5%. That’s primarily due to a single USD 50 million transaction that we lapped from the third quarter of 2024 from escrow. The Freelancer GMV was up a little bit, 4%, almost $34.1 million. The Escrow GMV lapped obviously that large transaction spike. And I will say, actually, we’re looking at a reasonably large transaction happening in the next quarter. So you may see a reversal of that in Q4.
Group revenue was basically flat at $13.8 million. The Freelancer revenue was at $10.1 million, was down 2.2% and the escrow revenue was up 2.9% at $3.2 million, even though we lapped that single transaction spike. The group continued to achieve
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