Airtasker Ltd · ASX:ART
Airtasker — Investor Presentation (May 2022)
31 slides from Airtasker's investor presentation, May 4, 2022
Slide 1: FY22 Q3 Update: Oneflare Acquisition Opportunity & Capital Raise
FY22 Q3 Update Oneflare Acquisition Opportunity & Capital Raise 4 May 2022
Slide 2: Disclaimer
Disclaimer The following disclaimer applies to this presentation. Please consider its contents carefully. By Financial information (continued) accepting this presentation, you acknowledge that you are receiving it on the basis set out in the Airtasker uses certain measures to manage and report on it
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: Strategy update
Strategy update Australia: Scaling our home marketplace Scaling Leverage network effects in scaling marketplaces to produce strong margins and positive cashflows. ● Marketing - continue to invest in brand trust and profitable marketing tactics to grow marketplace activity. ● Superstore - develop and op
Slide 6: Strong GMV and revenue growth on pcp whilst generating $1.0m positive operating cashflow
Strong GMV and revenue growth on pcp whilst generating $1.0m positive operating cashflow Q3 FY22 Gross Marketplace Volume (GMV)1 increased to $51.5m (up 24.9% on pcp2) whilst Q3 revenue increased to $8.6m (up 21.2% on pcp). During the quarter, Airtasker generated positive operating cashflow of $1.0m a
Slide 7: TVC, OOH, Paid social
TVC OOH Paid social 7
Slide 8: US marketplaces: Posted tasks up 90% QoQ
US marketplaces: Posted tasks up 90% QoQ US city-level marketplaces are in the “zero to one” phase during which the key focus is on posted tasks in order to drive Tasker engagement. Posted tasks continued to grow in Q3 reaching 3,200+ posted tasks in Mar-22 and strong momentum building in non-core c
Slide 9: UK marketplaces: GMV up 138% pcp
UK marketplaces: GMV up 138% pcp UK city-level marketplaces are in the “one to 100” phase during which we begin to balance marketplace supply and demand. UK demand (posted tasks) and supply (offers made by active Taskers) continued to increase with GMV increasing 138% on pcp as we enter the next stro
Slide 10: Oneflare acquisition opportunity
Oneflare acquisition opportunity Opportunity to acquire the business and assets of Oneflare Pty Ltd for Combined posted jobs per annum4 $9.8m (1.6x estimated FY23 revenue of greater than $6.0m1). ● Australia's 3rd largest local services platform.2 ● Strong presence in professional trades and home impr
Slide 11: Oneflare strengthens network effects and enables further expansion into high value trades segment
Oneflare strengthens network effects and enables further expansion into high value trades segment Acquisition of Oneflare enhances Airtasker customer experience and delivers compelling platform synergies: 1. Strengthen network effects - better matching, faster response times, more job opportunities. 2.
Slide 12: 1. Strengthen network effects
1. Strengthen network effects Customers Service Pros Combination of two marketplaces enables both Oneflare and Airtasker customers to be connected with the right 540,000+ type of Service Pro1 more quickly and efficiently: customers posted a job CY21 ● Oneflare customers seeking a fast, high value Service
Slide 13: 2. Unlock high value trades opportunity
2. Unlock high value trades opportunity Oneflare business features Oneflare acquisition provides a user base and suite of features to expand further into higher value service categories, including trades and professional services: ● Subscription pricing model - fixed subscription based fees preferred b
Slide 14: 3. Single technology platform
3. Single technology platform Combined Marketplace Activity (GMV)1 Over the next 18-24 months following acquisition, Oneflare’s product features will be integrated into a single Airtasker marketplace +$35m Oneflare FY23 serving both individual Taskers and verified businesses. GMV contribution Operating
Slide 15: Integration plan
Integration plan Oneflare integration plan will drive near term marketplace results, accelerate entry into trades segment and realise significant “single platform” synergies over the next 12-24 months. Take over Oneflare platform and Integrate Oneflare features/pricing Retire Oneflare platform and realis
Slide 16: Australia's No.1 marketplace for local services
Australia’s No.1 marketplace for local services Our Vision: The world’s most trusted place to buy and sell local services. 16
Slide 17: Acquisition terms
Acquisition terms Acquisition of the business and assets of Oneflare for $9.8m1 represents an attractively valued opportunity to significantly increase Airtasker’s marketplace scale. Acquisition price: ● $7.55m payable in shares (see following page) $9.8m ● $2.25m payable in cash Estimated FY23 revenu
Slide 18: Key offer information
Key offer information Offer structure and size ● Underwritten placement to professional and sophisticated investors to raise $6.25 million within Airtasker’s current placement capacity under ASX Listing Rule 7.1 (Placement), through the issue of approximately 14.5 million fully paid new ordinary share
Slide 19: Timetable
Timetable Indicative timetable Share Purchase Plan record date 7pm (AEST) Tuesday, 3 May 2022 Trading halt and announcement of Oneflare acquisition and underwritten capital raise Wednesday, 4 May 2022 Placement bookbuild closes 3pm (AEST) Wednesday, 4 May 2022 Placement results announced and shares r
Slide 20: Uses of funds
Uses of funds Airtasker intends to raise $6.25 million in the Placement to support the acquisition of Oneflare. Uses $m The proceeds will be applied to: Estimated FY23 investment in Oneflare1 3.50 ● FY23 investment in Oneflare. Cash component of the OneFlare acquisition 2.25 ● Cash component of Oneflare
Slide 21: Key risks
Key risks Area Performance of technology Airtasker is heavily reliant on information technology to make the Airtasker platform available to users. There is a risk that Airtasker or third parties who license software to Airtasker may fail to adequately maintain their information technology systems, o
Slide 22: Key risks cont.
Key risks cont. Area Reliance on information Airtasker has prepared (and made assumptions in the preparation of) the financial information relating to the acquisition of the assets and business of Oneflare included in this provided presentation in reliance on financial information and other information
Slide 23: Key risks cont.
Key risks cont. Area Growth strategies Airtasker's future success and growth prospects are dependent on continued, and increased, use of its platform in the jurisdictions in which it operates from time to time. The success of Airtasker's expansion in those jurisdictions may be affected by a number of
Slide 24: Appendices
Appendices
Slide 25: Introducing AWPI
AWPI to March 2022 Introducing AWPI The Airtasker Wage Price Index (AWPI) is based on actual data generated by completed task 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 rele
Slide 26: Airtasker Wage Price Index
AWP! AIRTASKER WAGE PRICE INDEX 175 125 100 75 50 | = —— |— SSS ~ Jul 19 Oct 19 Jan 20 Apr 20 Jul 20 Oct 20 Jan 21 Apr 21 Jul 21 Oct 21 Jan 22 ~= Accounting, legal and financial services mm Trades m= Administration and customer service == Education and training mm Hospitality == Information and comm
Slide 27: Admin and customer service, Hospitality, Trades
Admin and customer service Hospitality Trades 27
Slide 28: Key terms and conditions of the acquisition agreement
Key terms and conditions of the acquisition agreement Summary term Structure Airtasker is proposing to acquire the business and assets of Oneflare Pty Ltd and its wholly owned subsidiaries (the sellers), including the ‘Oneflare’, ‘UrbanYou’, ‘Word of Mouth’ and ‘TidyMe’ platforms. Airtasker will only
Slide 29: Key terms of underwriting agreement
Key terms of underwriting agreement Airtasker has entered into an underwriting agreement with Morgans Corporate Limited ACN 010 539 607 (Lead Manager), (Agreement) under which the Lead Manager has agreed to manage and underwrite the two-tranche institutional placement of fully paid ordinary shares i
Slide 30: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of new ordinary shares ("New Shares") of the Singapore Company in any jurisdiction in which it would be unlawful. In particular, this document may not This document and any other materials relating to the New Shares have not b
Slide 31: Thank you.
Thank you.