Daily News
View All NewsAustralia – Airtasker H1 revenue and gross marketplace volume up, but losses widen
Australia-based B2C talent platform Airtasker reported revenue increased by 10.4% to AUD 13.92 million (USD 9.97 million) for the six months period ended 31 December 2021.
| (AUD thousands) | H1 2022 | H1 2021 | Change | H1 2022 (USD thousands) |
| Revenue | 13,921 | 12,614 | 10.4% | 9,974 |
| Gross Profit | 12,923 | 11,800 | 9.5% | 9,259 |
| EBITDA | -3,738 | -1,146 | - | -2,678 |
| Net profit/loss after tax | -5,401 | -2,058 | - | -3,869 |
Airtasker’s business activity grew strongly in 1H FY22 despite the impact of extensive Covid-19 related government-mandated restrictions in key Australian marketplaces during much of the financial half-year.
A strong increase in activity in the three months to 31 December 2021 and in particular in the month of December 2021 following the removal of lockdown restrictions in key Australian city-level marketplaces, demonstrated the strength of the underlying performance of the group, Airtasker said.
Second-quarter revenue increased to AUD 8.1 million (USD 5.8 million), up 37.5% on the previous quarter and 16.6% over the previous year.
Gross Marketplace Volume (GMV) increased to AUD 48.6 million (USD 34.82 million), up 39.0% on the previous quarter and 23.2% on the previous year. For the H1 period, GMV increased by 15.5% over the previous year.
According to the company, GMV grew faster than revenue during the H1 period, due to Airtasker’s decision to protect taskers from the worst impacts of the lockdowns and build loyalty by implementing a tasker tier freeze in locations impacted by extended Covid-19 restrictions. Airtasker introduced a tasker tier freeze in response to extended lockdown restrictions, during which a
tasker’s fee tier, which is otherwise determined by the value of tasks completed over the previous 90 days, was preserved during lockdown restrictions, regardless of how much activity a tasker completed during that period.
In May 2021, Airtasker announced that it has completed the acquisition of Zaarly, a US-based local services marketplace. During 1H FY22 Zaarly customers and taskers in the US cities of Dallas and Kansas City were transitioned across to the Airtasker marketplace platform and the Zaarly website was shut down.
Shares in Airtasker closed at AUD 0.675 (USD 0.48), down 10.60% on the day and 11.57% above the 52 week low of AUD 0.605 (USD 0.43) set on 25 January 2022. The company has a market cap of AUD 314.30 million (USD 225.19 million).