Airtasker (ART) H1 2025 earnings summary

Executive summary

• Group revenue grew 10.0% year-over-year to $25.7 million for HY25, driven by 14.8% organic growth in Airtasker marketplaces and strong international expansion.

• Achieved third consecutive half-year of positive free cash flow, reaching $0.6 million, up 105.3% year-over-year, funding UK and US expansion.

• Significant brand and platform investment, leveraging over $51 million in media partnerships and launching global partnerships with Visa Cash App Racing Bulls Formula One Team and OpenAI Operator.

• Net loss after tax attributable to owners was $16.0 million, reflecting increased marketing investment and non-cash accounting losses.

• No dividends were declared or paid during the period, with a focus on reinvestment and international growth.

Financial highlights

• Group revenue reached $25.7 million, up 10% year-over-year; Airtasker marketplaces revenue $21.7 million, up 14.8%.

• Positive operating cash flow of $1.9 million, up 35.8% year-over-year; free cash flow of $0.6 million.

• Group EBITDA loss of $16.5 million, mainly due to $18.2 million in marketing investment and $6.6 million in non-cash losses from share purchase liabilities.

• Cash and term deposits stood at $18.3 million at 31 December 2024.

• HY25 Airtasker GMV up 9.3% to $104.6 million; monetisation rate improved to 20.8%.

Outlook and guidance

• On track to deliver full-year positive free cash flow and double-digit revenue growth for FY25.

• Accelerating growth in UK and US, supported by $18.3 million in cash/term deposits and $45.2 million unspent media capital.

• Marketing investment in new international markets expected to double in 2H25 as UK and US enter peak seasons.

• Australian consumer sentiment and demand expected to improve in 2H25, with further monetisation rate gains anticipated.