Australia-based B2C talent platform Airtasker reported revenue today for the first quarter ended 30 September 2022 of AUD 10.5 million (USD 6.7 million), an increase of 80% year on year.

The strong revenue result in Q1 was achieved through a combination of organic performance on the Airtasker marketplaces and the first full quarter contribution from the Oneflare marketplace acquired on 25 May 2022. Oneflare Pty Ltd, is an Australia-based B2C services platform with a presence in trades, home improvement and professional services.

Revenue increased by 36% over the year when excluding the contribution of the acquisition of Oneflare Pty Ltd.

Gross Marketplace Volume (GMV) grew 82% over the year to AUD 63.4 million (USD 40.6 million). Excluding the Oneflare acquisition, GMV grew 39% to AUD 48.2 million (USD 30.8 million) and unique paying customers (UPC) increased to more than 442,000 (up 8% over the year).

Airtasker EBITDA stood at a loss of AUD 2.3 million (USD 1.4 million).

In the UK, Airtasker’s marketplaces demonstrated ongoing balanced growth with both demand (posted tasks) and supply (offers made by active taskers) more than doubling over the year and UK GMV increasing 68% over the year on an annualised basis whilst revenue increased 133.6% over the year driven by the introduction of a booking fee which improved unit economics.

During the period, Airtasker’s US marketplaces continued to accelerate with Q1 posted tasks reporting an increase.

On September 2022, Airtasker announced the appointment of Mahendra Tharmarajah as its new CFO.

Airtasker shares closed at AUD 0.34 (USD 0.22), no change on the day and 38.78% above the 52 week low of AUD 0.245 (USD 0.16) set on 1 July 2022. The company has a market cap of AUD 157.29 million (USD 100.81 million).