AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights:
- Robust Financial Performance: Airtasker (ASX:ART) recorded a positive free cash flow of $500,000 and an operating cash flow increase to $1 million. Marketplace revenue climbed 15.8% to reach $11.7 million.
- Accelerated International Growth: Revenue in the UK surged by 95.2%, while the US market experienced a 278.6% increase, driven by strategic media campaigns.
- Strategic Investments for Expansion: A $3.2 million investment was allocated to scale operations in the UK and US without raising fixed costs, leveraging existing infrastructure efficiently.
Airtasker (ASX:ART) has reported a period of strong financial performance, supported by a surge in marketplace revenue and international expansion efforts. The company generated a positive free cash flow of $500,000, with operating cash flow reaching $1 million, marking a significant improvement in operational efficiency. Overall group revenue rose by 11.4%, reaching $13.6 million, while marketplace revenue increased by 15.8% to $11.7 million. These gains have been supported by marketing investments and seasonal peaks in Australia, particularly in the second and third financial quarters.
The company’s international expansion has played a key role in this growth. The UK market demonstrated strong performance, driven by a new television advertising campaign branded ‘Airtasker. Yeahtasker!’ This initiative contributed to a 95.2% revenue increase during Q2 FY25, alongside a 66.1% rise in gross marketplace volume (GMV). On an annual basis, GMV climbed by 50.3% to £5.8 million (~A$11.2 million), while revenue increased by 82.9% to £973,000 (~A$1.9 million).
In the US market, a similar advertising strategy delivered an even greater impact. GMV surged by 136%, while revenue soared by 278.6% compared to the prior year. The trailing twelve-month (TTM) analysis reflected a 39% rise in GMV, reaching US$726,000 (A$1.1 million), and a 118.5% revenue increase, amounting to US$125,000 (A$190,000). These results reinforce Airtasker’s ability to gain traction in key international markets while expanding its brand presence.
Strategic Investments Fueling Expansion
To support this growth, Airtasker has strategically invested $3.2 million in global expansion efforts while maintaining cost efficiency. Rather than increasing fixed costs, the company leveraged its existing global head office infrastructure to optimize distribution in the UK and US.
The company's established markets, including Australia, have also demonstrated strong financial performance. Airtasker generated positive EBITDA of $6.9 million in these markets, despite investing $1.9 million in non-cash marketing through partnerships with oOh!media (ASX:OML) and ARN Media (ASX:A1N). After accounting for global headquarters expenses, net EBITDA in Australia stood at $2 million.
Group EBITDA saw a decline, largely due to an $8.3 million investment in new marketplaces. However, with increased marketing efforts planned for the latter half of FY25, Airtasker anticipates stronger financial results as its expansion initiatives continue to scale.
Positioned for Long-Term Growth
Airtasker’s leadership remains optimistic about the company’s trajectory. CEO Tim Fung highlighted the successful execution of international growth strategies, reinforcing the company’s ability to drive expansion through strategic media partnerships. The company’s collaborations in media capital now total nearly $51 million, positioning it for continued growth in both existing and emerging markets.
With significant revenue growth in international markets and a disciplined investment strategy, Airtasker is advancing its global presence while maintaining strong financial fundamentals. As the UK and US operations gain further momentum, the company remains focused on long-term value creation and marketplace expansion.
