Slide 1: FY23 Results Presentation
30 August 2023
Slide 2: Disclaimer
Disclaimer The following disclaimer applies to this presentation. Please consider its Forward looking information Financial information (continued) contents carefully. By accepting this presentation, you acknowledge that you This presentation contains certain forward-looking statements that involve
Slide 3: 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 New brand image that speaks to two people connecting sell local services. We connect people who need work done, with people who want to work. 3
Slide 4: Our mission: to empower people to realise the full value of their skills
Our mission: To empower people to realise the full “This has helped me see my value of their skills. value and my self worth.” Tess K Creating jobs isn’t a by-product of the work that we do: it’s our core purpose. “This gives you the chance to help people and at the same time, feel appreciated for w
Slide 5: FY23 Key Highlights
01. FY23 Key Highlights 5
Slide 6: FY23 Financial Highlights
FY23 Financial Highlights $44.2m $41.8m -$8.0m +40.4% pcp +42.6% pcp 53.1% improvement in EBITDA loss $25.0m1 $6.7m $16.1m +28.7% pcp Partnership with Channel 4 unlocking $6.7m Cash and zero debt. (£3.5m) media advertising services in Net cash outflow reduced 23.9% on pcp. Airtasker UK over the next
Slide 7: FY23 Marketplace Highlights
FY23 Marketplace Highlights 149,0001 12,7703 9,150,000+4 +40.4% pcp2 +159.7% pcp +40.7% pcp 2,500,000+5 +66% % +15.2 pcp improvement in CAC6 6,750,000 6 Verified Airtasker User Reviews7 1. Total oer active Taskers on the Airtasker platform in FY23. 2. Oneflare is included from the date of acquisition
Slide 8: Business Overview and Strategy
02. Business Overview and Strategy 8
Slide 9: Unique value proposition
Unique value proposition: Open community Infinitely horizontal Built on transparency and Unifying a fragmented local accountability to enable trust with a services industry and creating light touch operating model. entirely new service industries. For customers: For Taskers: ● Super fast responses ●
Slide 10: Efficient business model enables profitable unit economics and sustainable competitive advantage
Efficient business model enables profitable unit economics and sustainable competitive advantage… GMV1 Revenue2 Sales Tax 1.8% Insurance 1.8% Merchant fees 3.7% 6m+ Cumulative user reviews Revenue 17.6% Paid to Customers/ Taskers Gross profit 80.6% 94.5% Profitable unit economics Efficient customer acq
Slide 11: High operating leverage and proven media partnership strategy supports global opportunity
High operating leverage and proven media partnership strategy supports global opportunity Profitable global scaling opportunity1: Proven media partnership strategy : Fixed cost base and AU marketplace High operating leverage: Together with Seven West Media, we’ve proven that media discretionary inves
Slide 12: Operational Update
03. Operational Update Airtaskert
Slide 13: We improved funnel conversion to deliver strong business performance despite soft macroeconomic environment
We improved funnel conversion to deliver strong business performance despite soft macroeconomic environment A soft macroeconomic environment saw consumer demand1 in Australia decrease however, a 38.8% surge in marketplace supply2 and focus on core product resulted in a higher quality customer experi
Slide 14: We boosted operational efficiency by integrating Oneflare and restructuring the Airtasker Group
We boosted operational efficiency by integrating Oneflare and restructuring the Airtasker Group Oneflare performing ahead of expectations ● Oneflare FY23 revenue ahead of expectations ● Business performing well with plans to invest further in Oneflare growth strategy in FY24. ● Integration is tracking p
Slide 15: We focussed our growth plans and laid the foundations to scale our media partnership
We focussed our growth plans and laid the foundations to scale our media partnership strategy globally Invested in a powerful Announced new Chair Secured $6.7m media-for-equity new brand Cass O’Connor partnership with Channel 4 Working alongside London-based brand We announced that, experienced ASX
Slide 16: We continued to invest in the trust and safety of our community
We continued to invest in the trust and safety of our community The trust and safety of our marketplace users is critical to our success. In 2022 we focussed investment on cybersecurity and in 2023 we expanded this focus to enhance marketplace trust and safety. Throughout the year, we delivered prod
Slide 17: FY23 Financial Results
04. FY23 Financial Results 17
Slide 18: AU: Established marketplaces Revenue +40% to $43.2m
Revenue $43.2m1 Gross Profit $41.0m1 +39.7% on pcp +41.7% on pcp AU: Established marketplaces Revenue +40% to $43.2m1 In Australia, we are in the ‘scaling’ phase of marketplace growth, focussed on driving profitable revenue and gross profit. 29,288,000 1 In FY23 revenue grew 39.7% on pcp to $43.2m whil
Slide 19: UK: New marketplaces GMV +35% & Revenue +93%
UK Gross Marketplace Volume and Revenue UK: New marketplaces Revenue +92.5% on pcp to £0.5m GMV +35% & Revenue +93% GMV The UK city-level marketplaces are in the ‘one to +34.6% on pcp to £3.7m 100’ phase during which we begin to balance marketplace supply and demand. FY23 GMV1 grew 34.6% on pcp to £
Slide 20: US: New marketplaces Posted tasks 2.6x & Tasker offers 4.0x
US Posted Tasks and Tasker Oers US: New marketplaces Posted tasks 2.6x Demand Supply ● Posted tasks ● Tasker oers ● 64,000 posted tasks ● 106,000 tasker oers & Tasker offers 4.0x ● 158.0% growth on pcp ● 300.2% growth on pcp The US city-level marketplaces are in the ‘zero to one’ phase during whi
Slide 21: Australian marketplaces generate positive EBITDA after covering Global Head Office operating expenditure
Australian marketplaces generate positive EBITDA after covering Global Head Office operating expenditure In FY23, Airtasker’s Australian marketplaces generated EBITDA of Non-Statutory Operating Segment Data $m $25.0m1. FY23 FY22 +/- Variance ● Australian EBITDA1 covers Global Head Oice operating ex
Slide 22: Sound financial position
Balance Sheet $m 30 Jun 23 30 Jun 22 +/- Variance Cash and cash equivalents 16.1 23.7 (32.3%) Trade and other current assets 10.1 6.5 56.1% Non-current assets 24.8 24.7 0.7% Sound financial position Total assets 51.0 54.8 (7.1%) Trade and other payables 3.9 7.3 (47.1%) Unclaimed customer credits 4.6
Slide 23: Future outlook
05. Future outlook 23
Slide 24: On track to deliver positive free cashflow result in FY24
On track to deliver positive free cashflow result in FY24 Divest all non-core businesses acquired through the Divestment of non-core portfolio on track to complete in 1H24: purchase of Oneflare. Expected to impact FY24 revenue by $1.0m but will deliver positive impact on operating ➜ costs, cashflow and
Slide 25: Focus on core product experience to further consolidate Australian market leadership
Focus on core product experience to further consolidate Australian market leadership Improve marketplace reliability by Address platform leakage and Continue to delight our establishing clear expectations and align financial incentives to positive customers and invest in a responsibilities (policies
Slide 26: Turbocharge UK marketplace with $6.7m Channel 4 investment and ready our media partnership model
Turbocharge UK marketplace with $6.7m Channel 4 investment and ready our media partnership model for global scale Airtasker completed a $6.7m media partnership with Channel 4 in June 2023 enabling reach to 47 million people across the UK and launching in October 2023. We’ve also entered a formal col
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