Price increase helps Escrow.com increase revenues in 2024.
Escrow.com’s parent company, Freelancer.com (ASX: FLN) (OTCQX: FLNCF), released earnings results today for Q4 2024 and the full year 2024.
For the year, Gross Marketplace Volume (GMV, a measure of total transaction value) fell 7.9% to AUS $818.2 million at Escrow.com (excluding Freelancer). For Q4, it fell 13.8% AUS $186.1 million.
Despite the decrease in transactions value, the company improved its revenue thanks to price increases it implemented on May 31.
For the year, revenue increased 14.5% to AUS $10.4 million. For Q4, it increased 27.8% to AUS $2.7.
Looking strictly at the domain name portion of Escrow.com’s business, Q4 volume was USD $92 million. This compares to USD $79 million in the same quarter last year.
In Q3 last year, Escrow.com handled a record value single transaction: $50 million for IP addresses.
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