I’m showing my age now but I remember when Freetrade seemed to have a genuine interest in their community and crowdfunding investors.
Probably they are eating pizzas at the moment
I have to admit I had exactly the same thought as you. Unfortunately it does seem that there are only two options, neither of them good: either gross incompetence or gross disrespect towards their customers.
We’ll have to wait for reports from those who attended. Hopefully they’re keeping good notes
Highlights from the Community meetup (Adam mentioned this is all getting shared):
AUA 1.4bn
Trading vol 3.1bn
Gross Margin 87%
Breakeven Q1 2024
Users 1.4m
Funded Customer accounts 0.7m
Subscription Penetration 28%
Subscription penetration was a standout positive.
I’ll let others who were taking detailed notes add the rest.
@Freetrade_Team thank you for hosting
Absolutely brilliant meet-up @Freetrade_Team!!!
Really insightful information relayed throughout the course of the evening, and it was great hearing about all of the efficiency updates going on in the background.
Good to know that you are activley strategising many of the community requests (and you have delivery timelines around these).
Extra thanks to @Viktor for staying back and handling all those extra questions from us!
(Special thanks to Tina for the extra [7:40] pizza!)
Please can you post a slide of recent financials & 2-3 year projections, including KPIs required to hit those projections?
Thanks for sharing, appreciated. Was there any news you were explicitly asked not to share?
Outside of core stats and numbers, what else did you take away from the session?
Any partnerships announced?
Narrative was more around what’s coming in the short term.
Focus has been on rightsizing the company for the current environment. Focus on profitability, so they aren’t reliant on VC/crowdcube raises.
Execution improved under the new CTO.
There will likely be a capital raise in the next 6 months, but no further details. With that there will be a future deck where projections etc will be shared.
2 new product features dropping within the next month. I think they’ve both been teased on the community, so no major surprises there.
Thanks - I guess it’s an interesting meld. As this is a community forum and little in between versus a shareholder invent. Naturally some interest from customers around the viability of the company and around the price increases - but thought the focus might be around partnership, features and products.
Eitherway, any updates are good to have.
Thanks to all that shared.
We spent quite some time to populate this page with questions. Was it a waste of time or some of our questions were asked?
I’m here.
I think both Adam and I spent a lot less time on social media this year. I prefer focusing on the business.
That said, I’m here! And I really enjoyed meeting everyone yesterday.
thanks for the hospitality, i really enjoyed te event!
The team seems super focus on the drive to profitability.
I too prefer this these periodic meet-ups though are great and it really does put Freetrade in a place of its own compared to competitors so I hope we might see some more (virtual) ones in the future on some updates on the company and Q&As when time permits
Looking forward to the upcoming features this year
We’re pulling together clips from the event and an overview of what was discussed to share here. Some of the summaries so far hit on the key facts and figures, and there’s a few more product focused discussions.
We also pulled together all the questions here and made sure that we covered all of them (or as many as possible).
We had great questions from the audience too.
Finally, we’re looking to do these a bit more regularly (it’s going to be the summer soon, who doesn’t love a beer after work?) so watch this space. We’ll try to give a longer heads up so people outside London have a chance to attend in person too if they might be travelling around that time.
Great to see everyone who made it!
I’d say @omarft did a pretty good job collating the forum questions and putting them to Adam, Viktor and James.
My key takeaway, beyond a pair of pink socks, was the confidence of the management team in their mission, value proposition and business model. Profitability within the next year will pave a stable & sustainable path.
No one’s mentioned … ?
Was this an answer in the Q&A or more informal discussions?