Airtasker (ART) H2 2024 earnings summary

Executive summary

• Achieved positive free cash flow of AUD 1.2 million in FY 2024, a turnaround of nearly AUD 9 million year-over-year, with improved operating efficiency.

• Group revenue grew 5.6% to AUD 46.6 million, with a four-year CAGR of 25%.

• Australian marketplace remains the primary revenue driver, contributing 97% of group revenue.

• Significant progress in international markets: UK revenue up 41% to AUD 1.3 million, US revenue up 73% to AUD 104k.

• Ended FY24 with AUD 17.8 million in cash and term deposits, plus AUD 11 million in advertising inventory.

Financial highlights

• Group revenue reached AUD 46.6 million, up 5.6% year-over-year.

• Airtasker marketplaces revenue was AUD 38.1 million, up nearly 10% year-over-year.

• Free cash flow of AUD 1.2 million, a 115% increase from the prior period.

• Positive operating cash flow of AUD 3 million, with three consecutive positive quarters.

• Australia revenue grew 8.6% to AUD 36.7 million; GMV down 4.6% to AUD 181 million, monetization rate up to 20.2%.

Outlook and guidance

• Targeting continued positive free cash flow in FY 2025.

• Aiming for double-digit growth in the Australian marketplace and accelerated expansion in the UK and US.

• Significant marketing activity planned in Australia using AUD 11 million in ad inventory.

• UK market to benefit from remaining GBP 1 million Channel 4 ad inventory in H1 FY 2025.