FY21 results: Airtasker records 38% revenue growth and flags accelerating international expansion

Today we released our financial results for the 12 months ended 30 June 2021 (FY21) - the first since we listed earlier this year. We’re super excited to announce the Airtasker team has delivered strong growth and exceeded both prospectus and upgraded guidance.

Hear from Airtasker Co-founder and CEO, Tim Fung in this video detailing the results: 

Commenting on the results, Tim said, “It’s been a super awesome year and I’m really stoked to see the Airtasker marketplace create more job and income opportunities than ever. Now that our Australian marketplace is operating cash flow positive - and with our UK marketplace starting to flourish - we’re really excited to get to work on international growth!” 

The Airtasker marketplace generated Gross Marketplace Volume (GMV) of $153.1M for the year, exceeding prospectus forecast of $143.7M and up 35.2% year-on-year. This strong GMV growth delivered record revenue of $26.6M beating prospectus forecast of $24.5M and up 38.0% year-on-year.

Organic growth accelerated in the UK as a result of Covid recovery tailwinds and a strong return on the company’s initial marketing investments with UK GMV up 232% year-on-year and 93% quarter-on-quarter. In the US, Airtasker’s acquisition and integration of Zaarly is progressing well with planned market launches in Kansas City, Dallas and Miami in H1 FY22.

During this period of strong GMV and revenue growth, Airtasker continued to see the benefits of its light touch operating model which maintained a gross margin of more than 93% and generated positive operating cash flow of $5.5M for the year.

With positive operating cash flow and a strong cash balance of $45.9M, Airtasker is now well positioned to invest in international expansion with local service industries across Australia, the US and the UK representing a total addressable market (TAM) of more than $600+ billion.