Airtasker Ltd
ASX:ART
Airtasker Ltd
Airtasker Ltd is a AU-based company operating in Interactive Media & Services industry. The company is headquartered in Sydney, New South Wales. The company went IPO on 2021-03-23. Airtasker Limited, formerly Airtasker Pty Ltd is an Australia-based company, which operates a community marketplace that provides an online outsourcing service. The firm's platform connects people who need to outsource tasks and find local services, with people who are looking to earn money and ready to work through online or mobile. The company enables users to post a task and choose from rated, verified and reviewed people. The firm offers its services in the areas, including handyman jobs, home cleaning, pickup and delivery, furniture assembly, computer and information technology support, flyer delivery, garden maintenance, carpentry, photography, graphic design and video, and administration assistance, among others. The firm offers its services across Australia.
Airtasker Ltd is a AU-based company operating in Interactive Media & Services industry. The company is headquartered in Sydney, New South Wales. The company went IPO on 2021-03-23. Airtasker Limited, formerly Airtasker Pty Ltd is an Australia-based company, which operates a community marketplace that provides an online outsourcing service. The firm's platform connects people who need to outsource tasks and find local services, with people who are looking to earn money and ready to work through online or mobile. The company enables users to post a task and choose from rated, verified and reviewed people. The firm offers its services in the areas, including handyman jobs, home cleaning, pickup and delivery, furniture assembly, computer and information technology support, flyer delivery, garden maintenance, carpentry, photography, graphic design and video, and administration assistance, among others. The firm offers its services across Australia.
Strong Top-Line Growth: GMV grew by 23.8% to $189.6 million and revenue increased 19.1% to $31.5 million in FY '22, despite significant COVID headwinds.
Profitability in Australia: The core Australian business delivered about $19.4 million in EBITDA, with the group aiming for cash flow positivity in FY '23.
International Expansion: U.S. and U.K. marketplaces are developing ahead of the pace set in Australia, focusing on the long tail of services and leveraging organic growth.
Oneflare Acquisition: The acquisition added 540,000 customers and 14,500 service providers, enhancing network effects and introducing a subscription revenue model.
Cost and Efficiency Focus: The company reduced headcount and merged operations to cut fixed costs, aiming for greater efficiency amid a challenging macro environment.
Resilient to Inflation: Management expects the majority of tasks to be nondiscretionary and sees potential benefit from inflation due to pricing dynamics.
No Immediate Capital Need: With $31.8 million in cash and receivables, management does not foresee the need to raise additional capital.
Marketing and Brand Building: Organic and above-the-line campaigns—especially in the U.K.—drove brand awareness, with plans to replicate this in other markets.
