Key points
- Positive free cash flow of $0.6m, an improvement of 105.3% on pcp
- Airtasker marketplaces revenue growth 14.8% on pcp
- Launched global partnership with VCARB Formula One™ Team and AI collaboration with OpenAI
Full summary
Airtasker delivered positive free cash flow of $0.6m in HY25, achieving a 105.3% improvement in free cash flow on pcp. The positive free cash flow result was achieved by growing Group revenue by 10.0% on pcp to $25.7m, with Airtasker marketplaces revenue growing 14.8% on pcp to $21.7m. The Group also delivered positive operating cash flow of $1.9m in HY25, up $0.5m (35.8%) on pcp. Airtasker remains in a strong financial position at 31 December 2024, with $18.3m in cash and term deposits on its balance sheet. During the half-year, Airtasker launched a global partnership with the VCARB Formula One™ Team and an AI collaboration with OpenAI. The UK marketplace delivered 99.8% revenue growth, hitting $13m annualised GMV, while the US marketplace saw 193.3% revenue growth. The Group's Australian marketplaces generated $14.0m EBITDA, more than the global head office operating expenditure and innovation investment of $9.9m, resulting in a positive Australian net EBITDA of $4.1m.
Guidance
Airtasker reaffirms its full year free cash flow and revenue growth guidance.
Outlook
Airtasker is in a great position with $18.3m in cash and term deposits, $45.2m in media assets, the VCARB Formula One™ Team partnership, and the OpenAI collaboration, and is looking to maintain momentum in the second half.