Slide 1: FY24 Financial Results Presentation
Airtasker Limited ABN 53 149 850 457 29 August 2024 ASX Announcement Airtasker Limited ASX ART FY24 Financial Results Presentation Airtasker Limited ASX ART (Airtasker) is pleased to lodge the aached presentation being made by Chief Executive Oicer Tim Fung and Chief Financial Oicer Mahendra Thar
Slide 2: 29 August 2024
29 August 2024
Slide 3: Disclaimer
Disclaimer The following disclaimer applies to this presentation. Please consider its Forward looking information (continued) Disclaimer (continued) contents carefully. By accepting this presentation, you acknowledge that you Airtasker does not undertake any obligation to release any revisions to an
Slide 4: Airtasker is building the world's most trusted marketplace to buy and sell local services
Airtasker is building the world’s most trusted marketplace to buy and sell local services. We connect people who need work done, with people who want to work. 3
Slide 5: To empower people to realise the full value of their skills
“I have been a home sewer since I Our mission: was a kid and last year, I had a massive vet bill that I didn’t have To empower people extra cash to pay for. Thanks to my Airtasker earnings I found a quick way to earn money to pay it o, to realise the full and now I am using side hustle earnings to
Slide 6: Unique Value Proposition
Unique Value Proposition Open Community Infinitely Horizontal Built on transparency and Unifying a fragmented local services accountability to enable trust with an industry and creating entirely new eicient light touch operating model. service categories. For Customers: For Taskers: ● Super fast res
Slide 7: Revenue model tightly aligns Airtasker with Tasker success
Revenue model tightly aligns Airtasker with Tasker success GMV 1,3 Revenue 2,3 Sales tax Insurance How does Airtasker make money? 2.0% 0.9% ● Free to post a task and receive oers. Revenue Merchant fees ● Free to access jobs and create quotes.4 20.0% 3.7% ● Fees are charged when customers and Tasker
Slide 8: Financial Results
Hy HHH HH f Wh FINANCIAL RESULTS
Slide 9: FY24 Highlights
FY24 Highlights Full year positive free cash flow and solid revenue growth achieved through sales funnel optimisation and operating eiciency improvements: 🏆 FY24 positive free cash flow of $1.2m, up $8.9m (115.3%) on pcp 🏆 FY24 Airtasker marketplaces revenue of $38.1m, up 9.8% on pcp 🏆 4Q24 UK…
Slide 10: FY24 Financial Highlights
FY24 Financial Highlights Group Revenue Airtasker Marketplaces Revenue1 Positive Free Cash Flow2 Positive Operating Cash Flow3 $46.6m $38.1m +$1.2m +$3.0m up 5.6% on pcp; 4 yr CAGR 24.9% up 9.8% on pcp; 4 yr CAGR 18.7% improved $8.9m (115.3%) on pcp improved $13.9m (128.0%) on pcp 1. Excludes Oneflar
Slide 11: Solid Growth Across Airtasker Marketplaces
Solid Growth Across Airtasker Marketplaces Airtasker Marketplaces GMV & Revenue1 Australia GMV & Revenue1 ● Airtasker marketplaces revenue1 growth 9.8% on pcp, to $38.1m; 4 yr CAGR 18.7%. ● Australia marketplace revenue growth 8.6% on pcp, to $36.7m; 4 yr CAGR 17.8%. ● Airtasker GMV down 3.5% on pcp
Slide 12: Media Partnership Turbocharges UK Growth
Media Partnership Turbocharges UK Growth UK GMV & Revenue US GMV & Revenue ● FY24 UK revenue growth 41.1% on pcp, to $1.3m (£0.7m); 4 yr CAGR 71.1%. ● FY24 US revenue growth 73.7% on pcp, to $104k (US$69k); 2 yr CAGR 40.5%. ● FY24 UK GMV growth 20.0% on pcp, to $8.6m (£4.5m); 4 yr CAGR 46.8%. ● FY24
Slide 13: Quarterly GMV & Revenue
Quarterly GMV & Revenue Airtasker Marketplaces1 Australia1 UK US Australia ● FY24 booked tasks growth; record completed tasks; improvement in monetisation rate. ● Challenging macro impacted GMV and booked tasks. ● Fiscal 4Q/1Q (spring/summer) strongest quarters in northern hemisphere. ● FY24 GMV dow
Slide 14: Quarterly Operational Metrics
Quarterly Operational Metrics Airtasker Marketplaces1 Australia1 UK US Australia ● UK: FY24 booked tasks up 22.0% on pcp to 35k all time high. ● FY24 booked tasks down 2.7% on pcp to 736k. ● UK: 4Q24 booked tasks growth 32.1% on pcp to 11K; FY24 monetisation rate improved 17.5% on ● 1H24 booked task
Slide 15: Group Financial Performance Seasonality
Group Financial Performance Seasonality Revenue Expenses1 Operating Cash Flow ● Fiscal 2Q/3Q seasonally strongest revenue quarters. ● Quarterly employee, technology and general and ● Strong cash receipts fiscal 2Q/3Q in line with revenue ● Australian marketplaces contribute 97.0% of Group administrat
Slide 16: Solid Foundations To Accelerate Growth In FY25
Solid Foundations To Accelerate Growth In FY25 👊 FY25 full year group positive free cash flow forecast 👊 Australian marketplaces to deliver double digit revenue growth and generate suicient cash to fund US/UK expansion 👊 A$17.8m in cash and term deposits on balance sheet at 30 June 2024 👊…
Slide 17: Growth Strategy
02 GROWTH STRATEGY
Slide 18: Continuous Investment In Core Product Experience
Continuous Investment In Core Product Experience Revenue per job Brand Investment Oneflare Customer Marketplace Trust Experience Drive brand salience and leverage the Enhance trust signals across profiles and breadth of customer demand we can Simplify subscription pricing and oers to enable greater c
Slide 19: Cash generated by Airtasker Australia funds global expansion
Cash generated by Airtasker Australia funds global expansion, turbocharged by local media-for-equity partnerships Airtasker Limited ● Airtasker’s marketplace model is cash generative at scale but requires upfront marketing 100% 80%4 100% investment to establish network eects. ● Surplus cash generat
Slide 20: A proven model to build profitable marketplaces
A proven model to build profitable marketplaces 25 112 In FY24, our Australian (Airtasker Australia and Oneflare) marketplaces generated $31.0m of positive cash flow: 91 20 Revenue1 $45.2m Aributed expenses2 $14.2m 68 AUD million EBITDA (cash flow proxy)1,3 $31.0m 15 To achieve this scale, commencing i
Slide 21: Opportunity to leverage our scalable software platform
Australian marketplaces generate free cash flow in excess of software platform and head oice Opportunity to infrastructure investment: leverage our scalable software platform FY24: $17.8m cash and term deposits $31.0m $18.2m In FY24 we invested $18.2m in building a world class cash generation invest
Slide 22: Cash investment turbocharged by local media partnerships
Software platform Cash investment turbocharged and global marketing IP by local media partnerships A$31.0m cash generation £2.5m seed investment In each new marketplace, Airtasker provides access to a world class 100% 80% 100% software platform combined with global marketing IP (brand, growth playbo
Slide 23: Investment structure enables upside whilst mitigating downside risk
Investment structure enables …and represents a compelling upside whilst mitigating investment proposition for downside risk… media partners: At the end of the initial investment period Airtasker1 re-purchases equity ● Proven model - Airtasker has a strong software platform, proven held by media part
Slide 24: Our current suite of market leading media partners
Our current suite of market leading media partners: Television Outdoor Audio £3.5m equity investment $5.0m unsecured convertible note $5.0m unsecured convertible note in Airtasker UK issued by Airtasker Limited issued by Airtasker Limited £17m post-money valuation of Airtasker 5.8% coupon, 2 year ma
Slide 25: Thank you!
Thank you! Airtasker Limited | ABN 53 149 850 457
Slide 26: Annexures
Annexures 25
Slide 27: Financial Metrics
FINANCIAL METRICS FY23 AUD (thousands) 2023 | 3028 GMV AU 53,558 48,693 UK 1,504 1,301 US 155 188 Other 23 Total 50,205 Revenue AU OF UK US:
Slide 28: Operational Metrics
OPERATIONAL METRICS FY23 FY24 1023 2023 [3023 4Q23 1024 2024 | 3024 4Q24 Booked Tasks (thousands) AU 184.8 2031 197.4 171.0 176.5 191.2 197.6 170.9 UK 79 65 58 84 83 77 79 11 US 06 07 07 08 08 08 22 3.0 Other 01 0.2 0.2 01 01 0.2 o1 O1 Total 193.4 210.5 2041 180.4 185.8 199.8 207.8 185.2 Average Tas