Key points
- Group revenue up 10% to $25.7 million
- Airtasker marketplaces revenue up 14.8% to $21.7 million
- Net loss after tax of $18.2 million due to increased marketing investment
Full summary
Airtasker Limited has reported its half-yearly results for the period ended 31 December 2024. The company achieved strong growth, with Group statutory revenue increasing 10.0% to $25.7 million, driven by a 14.8% increase in Airtasker marketplaces revenue to $21.7 million. This was supported by a 110.0% increase in revenue from new international marketplaces. However, the company's statutory net loss after tax increased to $18.2 million, reflecting a significant increase in sales and marketing investment to $18.2 million, up 229.7% from the prior corresponding period. This investment was in line with the company's strategy to build Airtasker brand awareness in its key markets of Australia, the UK and the US, and included $10.9 million in non-cash media advertising services. The net loss was also impacted by the remeasurement of the media partner share purchase liabilities and associated foreign currency translation losses totaling $6.6 million. Despite the net loss, Airtasker remains in a strong financial position, with $18.3 million in cash and term deposits on its balance sheet as at 31 December 2024.