Airtasker (ART) Q4 2024 TU earnings summary

Executive summary

• Achieved FY24 positive free cash flow of $1.2m, up $8.8m (115.3%) year-over-year.

• FY24 Airtasker platform fee revenue grew 13.9% year-over-year to $34.1m.

• UK 4Q24 revenue surged 76.3% year-over-year, with full-year UK revenue up 41.1%.

• Ended FY24 with $17.8m in cash and term deposits.

• Announced $11.0m in new Australian media partnerships to drive FY25 growth.

Financial highlights

• FY24 Group revenue reached $46.6m, up 5.6% year-over-year.

• Operating cash flow for FY24 was $3.1m, up $13.9m (128.1%) year-over-year.

• Headcount costs reduced by $9.5m (down 31.8%) and admin/corporate costs by $3.3m (down 31.9%).

• FY24 marketplaces total revenue grew 9.8% to $38.1m.

• Monetisation rate improved 13.7% to 20.0% in FY24.

Outlook and guidance

• FY25 to see increased brand investment in Australia, leveraging $11m in media partnerships.

• Focus on re-accelerating Australian revenue growth and continued UK expansion.