Freelancer marks strong cash flow to June
Freelancer (ASX:FLN) has marked a strong performance for the first six months of this year with net operating positive cash flow of $1.35 million on revenue of $11.85 million.
The world's largest outsourcing market place reported net operating cash flow of $246,000 on revenue of $18.54 million in the full 12 months of 2013. It has also made a number strategic acquisitions.
It remains well cashed up with $19.7 million in cash as of 30 June 2014.
Cash outflows of $3.9 million for the quarter included cash consideration for various intangible assets relating to the acquisition of Warrior Forum as well as capital expenditures and the provision of security deposits relating to the expansion and fit-out of the Company's operations.
Recent Update
The company had earlier this month launched Warrior Payments, an all-in-one payments, analytics, affiliate marketing and distribution platform that supports its internet marketing forum Warrior Forum.
Analysis
With net operating positive cash flow of $1.35 million in the first 6 months of 2014 exceeding the $246,000 it recorded in the entirety of 2013, Freelancer is well positioned to record strong results this year.
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