Slide 1: 1H FY22 Results Presentation
1H FY22 Results Presentation 24 February 2022
Slide 2: Disclaimer
Disclaimer The following disclaimer applies to this presentation. Please consider its contents Forward looking information carefully. By accepting this presentation, you acknowledge that you are receiving it on This presentation contains certain forward-looking statements that involve risks and the
Slide 3: Australia's no.1 marketplace for local services
Australia’s no.1 Simple e-commerce marketplace for for local services local services1 Buying products online is simple and easy... Connecting people who need work done, with people who want to work ...but buying services has been such hard work, many people avoid it... Ask a friend? Classifieds? Lead
Slide 4: We create jobs, purpose and income
We create jobs, purpose and income Our mission: 7.1% of Australians use To empower people to realise the full value of an online platform to find work each year1 34.8% of platform workers used their skills. Airtasker, making Airtasker the most commonly-used platform2 We believe that people matter and
Slide 5: Record 39% GMV growth quarter on quarter
Record 39% GMV GMV Quarterly Revenue Quarterly growth quarter on $48.6M $8.1M quarter +37.5% Q2 FY22 Gross Marketplace Volume +39.0% (GMV)1 increased to $48.6M (up 39.0% on previous quarter and 23.2% on pcp2) whilst Q2 revenue increased to $8.1M (up 37.5% on previous quarter and 16.6% on pcp).3 1. G
Slide 6: Weekly GMV run rate demonstrates accelerating growth
Weekly GMV run GMV Weekly (to Dec-21) $4.5M rate demonstrates Record peak-to-peak accelerating growth weekly GMV growth Following easing of lockdown restrictions, marketplace activity has rebounded to meet and exceed underlying long term growth trend with record yearly peak-to-peak GMV growth. Lockd
Slide 7: Task price and customer acquisition metrics demonstrate marketplace resilience
Task price and Unique Paying Customers Average Task Value customer New Unique Paying Customer1 acquisition acquisition metrics reduced during Q1 but bounced back In line with increasing marketplace demand for local services, average task demonstrate ahead of pcp immediately following easing of lockd
Slide 8: Reduced impact of lockdowns in Q2 saw GMV bounce back to underlying growth trajectory
Days in Lockdown Reduced impact of lockdowns (major city days) 188 days in Q2 saw GMV bounce back to underlying growth trajectory The number of major city-days in lockdown1 reduced from 188 32 days in Q1 to 32 days in Q2 resulting in the estimated GMV impact days of lockdowns decreasing from $12.0m
Slide 9: H2 guidance upgraded based on strong growth trajectory and increased marketing investment
H2 guidance upgraded H2 guidance upgraded: $107-110M based on strong growth trajectory and increased marketing investment Initial guidance (provided May 2021, prior to lockdown) was FY22 GMV of $200m split $95m and $105m (47/53%) between H1 and H2. H2 GMV guidance is increased to $107-$110m GMV repr
Slide 10: Strong Q2 recovery and December demonstrates underlying marketplace strength
Strong Q2 recovery and December demonstrates underlying marketplace strength $13.9M $3.2M Take rate2 recovered in Dec-21 H1 Revenue Dec-21 Revenue following removal of Tasker tier freeze Estimated lockdown impact -$2.38M1 +28% YoY growth rate in place during H1 lockdowns FY21 take rate Gross profit $
Slide 11: Income statement
Income statement ● Dec-21 revenue (and GMV) growth of 28.3% $ millions 1H FY22 1H FY21 Dec-21 Dec-20 (compared to Dec-20) demonstrates strength Revenue 13.9 12.6 3.2 2.5 of underlying performance. Cost of sales (1.0) (0.8) (0.2) (0.2) ● Growth in costs reflect increased marketing Gross profit 12.9 11.
Slide 12: Enormous global opportunity
Enormous global opportunity $600+ billion global TAM for We’ve got a long way to go in Australia with existing local service industries estimated market penetration of just 0.3%... across Australia, US and UK. ... but replicating just this penetration in the US and UK represents enormous GMV potenti
Slide 13: Key cities ignited and growing rapidly
Key cities ignited and growing rapidly USA Market Update Non-core US cities ● In the ‘zero-to-one’ stage of marketplace development, our focus is on creating a steadily increasing flow of job opportunities (posted tasks) in order to build Tasker engagement. ● Whilst we’ve concentrated primarily on 4
Slide 14: 121% GMV growth on pcp
121% GMV growth on pcp UK Market Update ● In the second “one to 100” stage of UK posted tasks and UK GMV annualised Q2 +121% marketplace development, we continue to Tasker engagement run rate (AUD1) vs pcp drive posted tasks whilst increasing emphasis on Tasker engagement and GMV. ● In Q2, UK posted
Slide 15: Significant levelling up of leadership team with key executive hires
Significant levelling Former Head of Marketing, Instagram APAC up of leadership Noelle Kim Previous senior marketing team with key Chief Marketing Officer Commenced Jul 2021 roles at Facebook, Google executive hires made across marketing, product Former CPO at Zip, responsible and people Patrick Collin
Slide 16: Product Update: Verticalisation
Product Update: Verticalisation Listings weekly bookings Massive opportunity to drive increasing customer engagement via core product investment ● Optimisation of sales funnel for key categories successful with significant conversion improvements achieved by using machine learning to predict task cat
Slide 17: Marketing Update
Marketing Update Joy of Done campaign ● Following onboarding of Airtasker’s first ever CMO in Jul-21, key senior marketing executive hires completed across brand and CRM as well as product and growth marketing. Global marketing headcount increased from 10 to 20. ● Significant ongoing investment into c
Slide 18: H2 Global Marketing Campaigns
H2 Global Marketing Campaigns USA SEM, Digital, Influencers UK TV/OLV, OOH, SEM, Radio, Digital AU BVOD/OLV, OOH, Radio, SEM, Digital 18
Slide 19: H1 FY22 performance overview
H1 FY22 performance overview UK GMV annualised Q2 +121% H2 forecast GMV Weekly $4.5M GMV H1 $107-110M run rate (AUD1) vs pcp US Posted Tasks Estimated lockdown impact GMV Revenue H1 $13.9M Revenue December 2021 Gross Profit H1 $12.9M Take Rate FY21 take rate 17.4% $3.2M Estimated lockdown impact Reve
Slide 20: Introducing AWPI
AWPI December 2021 Introducing AWPI The Airtasker Wage Price Index (AWPI) is based on actual data generated by completed tasks transactions in the Airtasker marketplace which saw more than 200,000 posted tasks and weekly GMV (gross marketplace volume) of $4.5m in December 2021. AWPI data will be rel
Slide 21: Airtasker Wage Price Index
AWP! AIRTASKER WAGE PRICE INDEX 160 150 140 130 120 110 100 90 80 70 60 50 On Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul Oct 2019 2019 2019 2019 2020 2020 2020 2021 2021 2021 2021 ~~ Accounting, legal and financial services mm Administration and customer service = Education and training m= Hospitality
Slide 22: Hospitality Trades Home Services
Hospitality Trades Home Services 22
Slide 23: Thank you.
Thank you.
Slide 24: Appendices
Appendices
Slide 25: Income statement
Income statement Commentary: $ millions 1H FY22 1H FY21 Dec-21 Dec-20 ● Dec-21 revenue (and GMV) growth of 28.3% (compared to Dec-20) Revenue 13.9 12.6 3.2 2.5 demonstrates strength of underlying performance of the Group. Cost of sales (1.0) (0.8) (0.2) (0.2) ● Management estimates COVID-related res
Slide 26: Balance sheet
Balance sheet Commentary: $ millions 31 Dec 2021 30 Jun 2021 Cash and term deposits 34.0 45.9 ● Reduction in cash and term deposits driven by balance sheet Trade and other receivables (current) - - movements (increase in prepayments and reduction in trade Prepayments (current) 4.1 1.2 payables total
Slide 27: Cash flows
Cash flows Commentary: $ millions 1H FY22 1H FY21 Receipts from customers (incl. GST) 15.7 13.2 Higher payments to suppliers reflects: Payments to suppliers (incl. GST) (24.5) (9.9) ● Increase in prepayments and reduction in trade payables (8.7) 3.3 totalling $6.2 million; Government grants - 1.0 Net