Airtasker’s annual report is out
Today Airtasker released its first annual report as a public company. You can read it here.
At Airtasker, creating jobs isn’t a by-product of the work that we do - it’s our core purpose. We believe that every person has unique skills and are building towards a future of work in which people are truly empowered to share those skills to create meaningful work opportunities and income.
In pursuit of our mission, Airtasker joined the ASX in March 2021 and we’re super pleased to wrap up our first year as a public company by first upgrading and then subsequently beating our prospectus forecast. It’s also wonderful to know that by becoming a public company, we’ve been able to offer employees, customers and Taskers an opportunity to become shareholders and to own part of Airtasker. A special shout out goes to our shareholders in the Airtasker community!
During FY21, despite the impact of lockdowns, we achieved a record year of marketplace growth, passing more than 1 million unique paying customers (all time), generating FY21 gross marketplace volume (GMV) of more than $153m and achieving FY21 revenue of $26.6m - up 38% year on year.
Throughout the year, we also worked hard to prove the sustainability of our business model by achieving positive operating cashflow of $5.5m which contributed to a strong year end balance sheet of $45.9m - which provides us with the resources to replicate what we’ve built in many local marketplaces across Australia as we establish new Airtasker marketplaces across the world.
Whilst the impact of lockdowns across Australia has impacted the start of FY22, we continue to see our community of customers and Taskers adapt with incredible resilience - using the Airtasker marketplace to offer and provide entirely new types of services whether it’s lockdown shopping and delivery, virtual fitness training or remote event planning services. Then, as we saw repeatedly in 2020, we expect to see a strong V-shaped recovery once restrictions ease. So whilst Covid represents a temporary disruption, it’s also a long term accelerant towards a future of flexible work that we’re incredibly excited about!
With this long term future in mind and supported by a strong balance sheet, we’re incredibly excited to be ramping up our FY22 investment into Airtasker’s long term growth strategy across three core pillars - scaling our brand and growth marketing; iteration and expansion of the Airtasker superstore product initiative; and international expansion with a focus on igniting city-level marketplace across the UK and the US - starting with Kansas City, Dallas and Miami.
In parallel with the Airtasker marketplace, our people are core to our success as a company and to each and every member of the Airtasker Team: We would like to thank you for the amazing work that you do each day. We would not be standing here today without you. Doubling down on the incredible talent within our team over the past year, we’ve iterated on the way we work to develop even greater ownership and empowerment whilst also investing into world class leadership team to spearhead Airtasker’s international expansion. Moving forward, in line with our mission: we will continue to invest heavily to truly empower every single team member at Airtasker to realise the full value of their skills.
Looking back, FY21 has been an incredible year. Despite the challenges of a global pandemic, Airtasker achieved record marketplace growth, proved the sustainability of our business model and invested into a platform for rapid international expansion. FY22 is going to be an incredible ride!
Thank you again for being part of the Airtasker journey.