Digital Marketplaces / Gig Economy / Local Services
Strategic Profile
The majority of revenue comes from the Established Marketplaces Segment operating in Australia, though international markets are being developed. The Australian business is estimated to represent around 3% of the total addressable market, with newer US and UK markets showing promising growth.
Cyborg Score Rationale
Revenue grew 12.46% to $52.68 million in fiscal 2025, but the company posted significant losses of $31.57 million. While expanding internationally shows strategic vision, operating losses and stock underperformance indicate execution challenges and market skepticism.
Top Insights
Revenue growth is modest at 12.46% despite significant operating losses, indicating scaling challenges
International expansion into US and UK markets represents long-term growth potential, currently underdeveloped
Stock significantly undervalued according to analyst estimates but faces profitability pressures
Large TAM opportunity with Australian operations representing only ~3% of addressable market provides runway for expansion
Named Competitors
TaskRabbit — Marketplace for on-demand labor and home services
Upwork — Freelance and professional services marketplace
Fiverr — Marketplace for digital services and creative freelancers
Recent Developments
(February 2026) Stock trading at $0.22 AUD, down significantly from all-time high of $1.965 in March 2021
(February 2026) FY2025 results showed revenue of $52.68M (+12.46% YoY) but losses widened to $31.57M
(2026) CEO Tim Fung highlighting job automation risks from AI advancement as strategic consideration
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