Slide 1: HY23 Results Presentation
26 February 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
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 4: To empower people to realise the full value of their skills
Our mission: To empower people “This has helped me see my value and my self worth.” to realise the full Tess K value of their skills Creating jobs isn’t a by-product of the “This gives you the chance work that we do: it’s our core purpose. to help people and at the same time, feel appreciated for wh
Slide 5: Aligned with our mission, we've built a unique marketplace model and customer experience
Aligned with our mission, we’ve built a unique marketplace model and customer experience Open marketplace Infinitely horizontal Customers can get almost any task Built on transparency and done, bringing together a highly accountability to enable trust fragmented local services industry with an eicie
Slide 6: Efficient marketplace model enables profitable unit economics
Efficient marketplace model enables profitable unit economics1 and sustainable competitive advantage… 450,0002 GST 1.6% Insurance 1.9% Merchant fees 3.7% 5m+ UPC in TTM Airtasker revenue User reviews 16.6% Tasker pay out Airtasker gross 81.8% profit 94.4% Organic customer acquisition Profitable unit ec
Slide 7: We've built the largest local services marketplace in Australia
We’ve built the largest local services marketplace in Australia… …and are exporting it to the world! $200m+ Annualised GMV4 2,200,000+ Posted tasks2 112,000 $52b AU TAM1,7 Active Taskers3 $70b $500b $200,000,000+ UK TAM5,7 US TAM6,7 Annualised GMV4 1. Frost and Sullivan, 2021. 2. Posted tasks in cal
Slide 8: Our marketplace is naturally resilient to weakness in the macroeconomic environment
Our marketplace is naturally resilient to weakness in the macroeconomic environment Airtasker Labour Supply Index Demand Supply With lower consumer However a significant increase in 2020 2021 2022 confidence, top-of-funnel supply has seen a huge improvement +48% demand has softened… in conversion to r
Slide 9: Adaptive business model in low consumer demand phase of the economic cycle
Adaptive business model in low consumer demand phase of the economic cycle… ✓ Proven elasticity of fee pricing enables increased take rate on the supply-side of Airtasker marketplace. ✓ Oneflare subscription model experiences higher demand from Service Pros who are incentivised to discover and reach
Slide 10: 1H23 revenue +57% on pcp to $21.8m
GMV $131.7m Revenue $21.8m +58% on pcp +57% on pcp 1H23 revenue +57% on pcp to $21.8m 1H23 GMV1 increased to $131.7m (up 58% on pcp) whilst revenue increased to $21.8m (up 57% on pcp).2 Excluding Oneflare2, GMV increased 24% on pcp to $103.5m and revenue increased 23% on pcp to $17.1m. 1. Gross marke
Slide 11: Tight financial management
Balance Sheet $m 31 Dec 22 30 Jun 22 +/- Variance Cash and cash equivalents 23.3 23.7 (2.0%) Trade and other current assets 2.7 6.5 (58.5%) Tight financial management Non-current assets 26.2 24.7 6.3% Total assets 52.2 54.9 (4.8%) Trade and other payables 4.3 7.3 41.4% ● Strong financial position - $2
Slide 12: Marketplace staging economics
Marketplace staging economics Framework for understanding economics of marketplaces at different stages of maturity Airtasker operates marketplaces at dierent stages of maturity with economics diering significantly depending upon stage of development: ● Scaling (eg. Australia) ● One to 100 (eg. UK)
Slide 13: 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 1H23, Airtasker’s Australian marketplaces generated EBITDA of $11.9m1. Non-Statutory Profit and Loss $m ● Australian marketplaces EBITDA covers the global head oice operating expenditure2 (exc
Slide 14: AU: Scaling marketplace Revenue +56% to $21.4m
Revenue $21.4m1 Gross $20.3m1 % +56 on pcp profit +58% on pcp AU: Scaling marketplace Revenue +56% to $21.4m1 In Australia, we are in the “scaling” phase of marketplace growth, focussed on driving profitable revenue and gross profit. In 1H23 revenue grew 56% on pcp to $21.4m1 while gross profit grew 58%
Slide 15: UK: New marketplace TTM GMV +83% & TTM revenue +153%
TTM Revenue UK: New marketplace +153% on pcp to £0.4m3 TTM GMV +83% & TTM revenue +153% TTM GMV +83% on pcp to £3.5m3 The UK city-level marketplaces are in the “one to 100” phase during which we begin to balance marketplace supply and demand. TTM1 GMV2 to 1H23 grew 83% on pcp to £3.5m3 while TTM rev
Slide 16: US: New marketplace Posted tasks 5.5x & Tasker offers 9.4x
Supply ● Tasker oers US: New marketplace ● 54,000 tasker oers ● 9.4x growth on pcp Posted tasks 5.5x & Demand ● Posted tasks Tasker offers 9.4x ● 34,000 posted tasks ● 5.5x growth on pcp The US city-level marketplaces are in the “zero to one” phase during which the key focus is on posted tasks in
Slide 17: Growth Strategy
Growth Strategy Australia: Scaling our UK & US: Building new home marketplace marketplaces Investment Leverage network eects in scaled marketplaces to Utilise cash flows generated from our Australian produce strong margins and positive cash flows. marketplaces to establish and grow new marketplaces i
Slide 18: Improving purchase frequency by investing in core product experience
Improving purchase frequency by investing in core product experience to drive customer return rates. Improve market Invest in enhanced reliability marketplace matching To improve the reliability of Taskers in Our data science and machine learning our marketplace, we’re continuing to teams continue t
Slide 19: Improving purchase frequency by enabling repeat booking relationships and higher value services
Improving purchase frequency by enabling repeat booking relationships and higher value services. Contacts weekly GMV (annualised) Unlock repeat relationships Prior to 3Q22, it wasn’t possible for customers to re-connect with a Tasker that they had worked with previously. In 3Q22, we released Airtask
Slide 20: Expanding localised PR and partnerships whilst layering on efficient above the line investment
Expanding localised PR and partnerships whilst layering on efficient above the line investment to build brand awareness Proven PR playbook Expanding our local Efficient above the line (newsjacking!) Dunelm partnership brand investment 20
Slide 21: Rolling out our PR playbook whilst investing in early stage community management
Rolling out our PR playbook whilst investing in early stage community management to nurture growing demand PR: How to throw the Newsjacking: Get tickets Community: Building our ultimate Superbowl party to Harry-Wheen early community in with Airtasker via Airtasker! Los Angeles 21
Slide 22: Empower people to realise the full value of their skills
Our mission: EMPOWER PEOPLE TO REALISE THE FULL VALUE OF THEIR SKILLS 22
Slide 23: Thank you!
Thank you! Airtasker