Quarterly Activities/Appendix 4C Cash Flow Report
Released
Released
Announcement PDF
Airtasker Limited
ABN 53 149 850 457
30 July 2025
ASX Announcement
30 June 2025 - Quarterly Activity Report
Full year positive free cash flow $1.2m
Airtasker marketplaces revenue growth 29%
UK hits $21.0m GMV ARR, revenue up 105%
US hits $7.5m GMV ARR, revenue up 755%
4Q Highlights
● Positive free cashflow for the quarter and full year FY25
● Airtasker marketplaces revenue accelerates to 28.9% on pcp1
● Airtasker UK GMV2 ARR3 hits $21.0m,4 revenue up 104.8%5 on pcp
● Airtasker US GMV ARR hits $7.5m,6 revenue up 754.5%5 on pcp
● $19.1m in cash and term deposits on balance sheet
1
2
3
4
5
6
rior comparative period being 4Q24.
P
Gross marketplace volume.
Annualised run rate.
Airtasker UK GMV for June 2025 multiplied by 12.
In local currency.
Airtasker US GMV for June 2025 multiplied by 12.
1
Airtasker Limited
ABN 53 149 850 457
Second consecutive full year of positive free cash flow
InFY25,Airtaskerdelivereditssecondconsecutivefullyearofpositivefreecashflowat$1.2mand
in 4Q25 its fourth consecutive quarter of positive free cash flow at $670k,achievedbygrowing
Group revenue 20.6% on pcp to $13.4m. On a full year basis Group revenue grew 13.0% to $52.7m.
Airtasker finishedthequarterinastrongfinancialpositionwith$19.1mincashandtermdeposits
on its balance sheet.
Airtasker marketplaces revenue up 29%
During 4Q25, Airtasker marketplaces revenue growth accelerateditscurrenttrend,up28.9%on
pcpto$11.7m(3Q25:up15.8%).ThisgrowthwasdriveninpartbystrongperformanceinAirtasker’s
UK and US marketplaces, which capitalised on seasonal demand during 3Q25 and 4Q25.
Consistent with seasonal demand, contributions from these marketplaces are expected to
moderate in 1Q26 and 2Q26. For the full year FY25, Airtasker marketplaces delivered strong
revenue growth of 18.4% to $45.1m (FY24: up 9.8%).
The continuing trend in Airtasker marketplaces revenue growth in 4Q25 was driven by higher
consumer demand with booked tasks up 11.4% on pcp (3Q25: up 1.5% on pcp), the continued
positive impact of marketplace reliability improvements and ongoing yield management initiatives.
AirtaskerAustraliasawacceleratingrevenuegrowthin4Q25,up20.7%onpcpto$10.3m(3Q25:up
10.6%). On a full year basis Airtasker Australia revenue grew 13.5% to $41.6m (FY24: up 8.6%).
AirtaskerAustralia’srevenueincreasewastheresultofplatformrevenueincreasing22.8%in4Q25
(up$1.8monpcp)whilstbreakagerevenuecontinuedtodecreaseduetolowercancellationsanda
morecustomercentricrefundsprocessfollowingtheimplementationofthecancellationpolicyin
1H24.
UK marketplace hits $21.0m GMV ARR, revenue up 105% on pcp
In4Q25,revenuegrowthintheUKmarketplace
was 104.8% on pcpto£512k(3Q25:up153.2%
on pcp). Therevenueperformancereflecteda
36.8% increase in posted tasks on pcp and a
63.6% increase in GMV on pcp to £2.4m
($5.0m), on the back of continued brand
investment through Channel 4, as well as
continuing market penetration in Birmingham
and Manchester.
2
Airtasker Limited
ABN 53 149 850 457
OnaT TM7 basis,GMVwasup74.8%onpcpto$15.0m8 (£7.5m)andrevenuewasup123.2%onpcp
to $2.9m8 (£1.5m). The Airtasker UK marketplace achieved a GMV ARR of $21.0m9 (£10.1m) at
30 June 2025.
US marketplace hits $7.5m GMV ARR, revenue up 755% on pcp
The Airtasker US marketplace continued its
momentumwithrevenueup754.5%onpcpto
US$188k on 4Q25 (3Q25: up 399.0% onpcp).
The revenue performance reflected a556.3%
increase in GMV on pcp toUS$931k($1,450k)
driven by the utilisation of the advertising
media from TelevisaUnivision, iHeartMedia,
SinclairandMercuriusaswellascitylaunches
in Austin and Las Vegas.
OnaT TMbasis,GMVwasup251.7%onpcpto
10
$2.8m (US$1.8m) and revenue was up 437.5% on pcp to $560k10 (US$360k). The Airtasker US
marketplace achieved a GMV ARR of $7.5m11 (US$4.8m)at 30 June 2025.
Australian marketplaces deliver ~$4.8m cash flow after all global head office expenditure
During 4Q25, Airtasker’s Established Marketplaces12 in
Australia generated cash flow of ~$9.2m13 which
contributedtofixedglobalheadofficecashexpenditureof
~$4.4m,14 leaving ~$4.8m available to invest in New
Marketplaces15 in the UK and US.
Leveragingthisfixedglobalheadofficeinvestment,cashof
~$4.1m16 was invested in New Marketplaces resulting in
positive Group free cash flow for 4Q25, whilst
simultaneously growing UK revenue by104.8%onpcpand
US revenue by 754.5% on pcp.
Airtasker’s Established Marketplaces delivered positive
EBITDAof$7.0mduring4Q25,includingnon-cashmarketing
of $1.2m. After covering all global headofficeexpenditure,
7
railing twelve months.
T
Calculated as the trailing twelve months to 30 June 2025.
Airtasker UK GMV for June 2025 multiplied by 12.
10
Calculated as the trailing twelve months to 30 June 2025.
11
Airtasker US GMV for June 2025 multiplied by 12.
12
The 'Established Marketplaces Segment’ comprises Airtasker Australia and Oneflare which are at the ‘scaling’ stage as they have established user bases and operations.
13
Represents Established Marketplaces EBITDA adjusted for material non-cash expenditure.
14
Represents global head office expenditure adjusted for material non-cash and capitalised expenditure.
15
The ‘New Marketplaces Segment’ comprises internationalmarketplaces, particularly in the US and the UK, which are at the ‘zero to one’ and ‘one to 100’ stages, respectively, as they
have less established user bases and operations and may experience accelerated growth in revenue.
16
Re
presents New Marketplaces EBITDA adjusted formaterial non-cash expenditure.
8
9
3
Airtasker Limited
ABN 53 149 850 457
the Established Marketplaces delivered positive Australian net EBITDA of $2.5m.
Airtasker then invested $9.7m in New Marketplaces principally in the formof$4.9minnon-cash
marketing associated with the Channel 4 media advertising services in the UK and the
TelevisaUnivision, iHeartMedia, Mercurius and Sinclair media advertising services in the US,
resulting in negative Group EBITDA of $7.2m.
The negative Group EBITDA is expected to continueinFY26asAirtaskercontinuestoutilisethe
non-cash media advertising services from its media partners in Australia, the UK and the US.
The performance of the operating segments for 4Q25 is presented in the table below.
Non-statutory operating segment data17
4Q25
$m
4Q24
$m
Variance
$m
Variance
%
Established Marketplaces (Australia) EBITDA18
7.0
6.5
0.5
6.8%
Less: Global head office operating expenditure19
(3.8)
(3.9)
0.1
5.3%
Less: Global head office innovation investment20
(0.7)
(0.9)
0.2
21.1%
2.5
1.7
0.8
48.2%
Less: New Marketplaces (UK and US) EBITDA
(9.7)
(4.4)
(5.3)
(119.3%)
Group EBITDA
(7.2)
(2.7)
(4.5)
(164.8%)
Australian net EBITDA
Commenting on the results, Airtasker Founder and CEO Tim Fung said, “With Airtasker
marketplacesrevenuegrowthacceleratingto29%thisquarteronpcpcombinedwithoursecond
consecutiveyearofpositivefreecashflow-wecouldn’tbemorepumpedforwhat’saheadaswe
scaleourmissionacrosstheglobe!Ahugeshoutouttoourincrediblestaff,amazingglobalmedia
partners and the incredible Visa Cash App Racing Bulls Formula One™ Team, all of whom
contributed to this outstanding result!”
Relatedpartypaymentsin4Q25totalled$864k.Thepaymentscomprised$136ktonon-executive
directorsfordirectors’fees,superannuationandexpensereimbursements,$186ktoTankStream
LabsPtyLtdforleases,utilitiesandcleaningcostsrelatedtoofficefacilitiesand$541k(£258k)to
Channel Four Television Corporation for VAT related to media advertising services.
All financial information is unaudited.
-- Ends –
17
alues in the table are rounded for presentation.
V
Excluding global head office operating expenditureand innovation investment.
The operating expenditure relating to themarketplaceplatforms(engineering,productsupportandmaintenance),aswellasbackofficesupportfunctions(leadership,legal,financeandpeople
operations).
20
The innovation investment that is non-capitalisable and associated withthedesignof,andpost-implementationworkon,newfeaturesdesignedtoenhancethecustomerexperience,increase
long term GMV and grow long term revenue.
18
19
4
Airtasker Limited
ABN 53 149 850 457
For further information, please contact:
Media Enquiries
Investor Relations
Andrea Philips
www.investor.airtasker.com
andrea.philips@airtasker.com
investors@airtasker.com
About Airtasker
irtaskerLimited(ASX:ART)isAustralia’sleadingonlinemarketplaceforlocalservices,connecting
A
people and businesses who need work done with people who want to work. With a mission to
empowerpeopletorealisethefullvalueoftheirskills,Airtaskeraimstohaveapositiveimpact
on the future of work by creating truly flexible opportunities to work and earn income. In 2025,
Airtasker entered the world of Formula One™ through its partnership with the Visa Cash App
RacingBullsFormulaOne™Team.Sincelaunchingin2012,Airtaskerhasputmorethan$650minto
thepocketsofworkers(paymentsmadeafterallfeerevenueisdeducted)andservedmorethan
1.8m unique paying customers across the world. For more information visit: investor.airtasker.com.
This announcement was approved for release by the Board of Directors of Airtasker Limited.
5
Appendix 4C
Appendix 4C
Quarterly Cash Flow Report for Entities
Subject to Listing Rule 4.7B
Name of entity
Airtasker Limited (Company)
ABN
Quarter ended (current quarter)
53 149 850 457
30 June 2025
Consolidated statement of cash flows
1.
Cash flows from operating activities
1.1
Receipts from customers
1.2
Payments for
Current
quarter
A$’000
Year to date
(12 months)
A$’000
14,885
58,429
-
-
(997)
(4,278)
(5,197)
(20,586)
(2)
(8)
(a)
research and development
(b)
product manufacturing and operating costs
(c)
advertising and marketing
(d)
leased assets
(e)
staff costs
(5,265)
(21,821)
(f)
administration and corporate costs
(1,711)
(6,800)
-
-
1.3
Dividends received (see note 3)
1.4
Interest received
155
626
1.5
Interest and other costs of finance paid
(23)
(109)
1.6
Income taxes paid
-
-
1.7
Government grants and tax incentives
-
-
1.8
Other (GST and FBT)
(192)
(1,067)
1.9
Net cash from operating activities
1,653
4,386
2.
Cash flows used in investing activities
2.1
Payments to acquire or for:
(a)
entities
-
-
(b)
businesses
-
-
(c)
property, plant and equipment
(23)
(91)
(d)
investments
(54)
(54)
(e)
intellectual property
(531)
(2,074)
(f)
other non-current assets
-
-
Quarterly cash flow report for entities subject to Listing Rule 4.7B
1
Appendix 4C
Consolidated statement of cash flows
2.2
Current
quarter
A$’000
Year to date
(12 months)
A$’000
Proceeds from disposal of:
(a)
entities
-
-
(b)
businesses (non-core business disposals)
-
31
(c)
property, plant and equipment
1
5
(d)
investments
-
-
(e)
intellectual property
-
-
(f)
other non-current assets
-
-
2.3
Cash flows from loans to other entities
-
-
2.4
Dividends received (see note 3)
-
-
2.5
Other (provide details, if material)
-
-
2.6
Net cash used in investing activities
(607)
(2,183)
3.
Cash flows used in financing activities
3.1
Proceeds from issues of equity securities (excluding
convertible debt securities)
-
-
3.2
Proceeds from issue of convertible debt securities
-
-
3.3
Proceeds from exercise of options
-
-
3.4
Transaction costs related to issues of equity securities
or convertible debt securities
-
-
3.5
Proceeds from borrowings
-
-
3.6
Repayment of borrowings
-
-
3.7
Transaction costs related to loans and borrowings
-
-
3.8
Dividends paid
-
-
3.9
Other – lease liabilities
(230)
(1,033)
3.10
Net cash used in financing activities
(230)
(1,033)
4.
Net decrease in cash and cash equivalents
for the period
4.1
Cash and cash equivalents at beginning of period
17,800
17,228
4.2
Net cash from operating activities (item 1.9 above)
1,653
4,386
4.3
Net cash used in investing activities (item 2.6 above)
(607)
(2,183)
4.4
Net cash used in financing activities (item 3.10 above)
(230)
(1,033)
4.5
Effect of movement in exchange rates on cash held
(146)
72
4.6
Cash and cash equivalents at end of period
18,470
18,470
Quarterly cash flow report for entities subject to Listing Rule 4.7B
2
Appendix 4C
5.
Reconciliation of cash and cash
equivalents
at the end of the quarter (as shown in the consolidated
statement of cash flows) to the related items in the
accounts
5.1
Bank balances (item 4.6 and item 4.1)
5.2
Current
quarter
A$’000
Previous
quarter
A$’000
18,470
17,800
Call deposits
-
-
5.3
Bank overdrafts
-
-
5.4
Other (provide details)
-
-
5.5
Cash and cash equivalents at end of quarter
(should equal item 4.6 above)
18,470
17,800
6.
Payments to related parties of the entity and their
associates
6.1
Aggregate amount of payments to related parties and their associates
included in item 1
(730)
6.2
Aggregate amount of payments to related parties and their associates
included in item 3
(134)
Current
quarter
A$'000
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an
explanation for, such payments.
7.
Financing facilities
Note: the term “facility’ includes all forms of financing
arrangements available to the entity.
Add notes as necessary for an understanding of the
sources of finance available to the entity.
Total facility amount Amount drawn
at quarter end
at quarter end
A$’000
A$’000
7.1
Loan facilities
-
-
7.2
Credit standby arrangements
-
-
7.3
Other - convertible security a, b, c
43,429
(43,429)
7.4
Total financing facilities
43,429
(43,429)
7.5
Unused financing facilities available at quarter end
7.6
Include in the box below a description of each facility above, including the lender, interest
rate, maturity date and whether it is secured or unsecured. If any additional financing facilities
have been entered into or are proposed to be entered into after quarter end, include a note
providing details of those facilities as well.
a.
-
On 25 June 2024, the Company issued an unsecured convertible note in the amount of $5,000,000 to oOh!media Limited with a maturity date of 25 June 2026
(oOh!media Note). The consideration for the oOh!media Note is the provision of non-cash out-of-home advertising services to the value of $6,000,000 (ex GST).
On 4 July 2024, the Company issued an unsecured convertible note in the amount of $5,000,000 to ARN Limited with a maturity date of 4 July 2026 (ARN Note).
The consideration for the ARN Note is the provision of non-cash audio advertising services to the value of $5,000,000 (ex GST). The oOh!media Note and the
ARN Note were drawn down immediately upon issue, pay a coupon of 5.8% per annum to be settled at maturity, and at maturity, are redeemable in cash or
convertible into ordinary shares at a 10% discount to the Company’s 30-trading day volume-weighted average price, at the option of the Company.
b.
On 2 September 2024, the Company’s US subsidiary, Airtasker USA Inc (Airtasker USA), issued an unsecured convertible note in the amount of US$5,000,000
(A$7,213,000) to iHeartMedia + Entertainment, Inc., with a maturity date of 31 August 2028 (iHeart Note). The consideration for the iHeart Note is the provision
of non-cash advertising media inventory to the value of US$5,000,000 (excluding applicable taxes). On 27 November 2024, Airtasker USA issued an unsecured
convertible note in the amount of US$6,000,000 (A$9,207,000) to Sinclair Television Group, a division of Sinclair, Inc., with a maturity date of 27 November 2028
(Sinclair Note). The consideration for the Sinclair Note is the provision of non-cash advertising media inventory to the value of US$6,000,000 (excluding
Quarterly cash flow report for entities subject to Listing Rule 4.7B
3
Appendix 4C
applicable taxes). On 27 November 2024, Airtasker USA issued an unsecured convertible note in the amount of US$6,000,000 (A$9,207,000) to Mercurius
Media Capital LP with a maturity date of 27 November 2028 (Mercurius Note). The consideration for the Mercurius Note is the provision of non-cash advertising
media inventory to the value of US$6,000,000 (excluding applicable taxes). The iHeart Note, Sinclair Note and the Mercurius Note were drawn down immediately
upon issue, pay a coupon of 5.0% per annum to be settled at maturity, and at maturity are repayable in cash or are convertible into equity in Airtasker USA at a
20% discount to an agreed valuation or at a 20% discount to the offer price of a qualifying equity financing in Airtasker USA (as applicable), at the option of
Airtasker USA.
c.
On 27 November 2024, the Company’s UK subsidiary, Airtasker UK Ltd (Airtasker UK), issued an unsecured convertible note in the amount of £4,000,000
(A$7,802,000) to Channel Four Television Corporation with a maturity date of 27 November 2027 (C4 Note). The consideration for the C4 Note is the provision of
non-cash advertising media inventory to the value of £4,000,000 (excluding VAT). The C4 Note was drawn down immediately upon issue, pays a coupon of 5.0%
per annum to be settled at maturity, and at maturity is repayable in cash or convertible into equity in Airtasker UK at a 10% discount to an agreed valuation or at a
10% discount to the offer price of a qualifying equity financing in Airtasker UK (as applicable), at the option of Airtasker UK.
8.
Estimated cash available for future operating activities
A$’000
8.1
Net cash from operating activities (item 1.9)
1,653
8.2
Cash and cash equivalents at quarter end (item 4.6)
18,470
8.3
Unused finance facilities available at quarter end (item 7.5)
8.4
Total available funding (item 8.2 + item 8.3)
8.5
Estimated quarters of funding available (item 8.4 divided by
item 8.1)
18,470
N/A
Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a
figure for the estimated quarters of funding available must be included in item 8.5.
8.6
If item 8.5 is less than 2 quarters, please provide answers to the following questions:
8.6.1
Does the entity expect that it will continue to have the current level of net operating
cash flows for the time being and, if not, why not?
Answer: N/A
8.6.2
Has the entity taken any steps, or does it propose to take any steps, to raise further
cash to fund its operations and, if so, what are those steps and how likely does it
believe that they will be successful?
Answer: N/A
8.6.3
Does the entity expect to be able to continue its operations and to meet its business
objectives and, if so, on what basis?
Answer: N/A
Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.
Compliance statement
1
2
Date:
This statement has been prepared in accordance with accounting standards and policies
which comply with Listing Rule 19.11A.
This statement gives a true and fair view of the matters disclosed.
30 July 2025
Authorised by: The Board of Directors
(Name of body or officer authorising release – see note 4)
Quarterly cash flow report for entities subject to Listing Rule 4.7B
4
Appendix 4C
Notes
1.
This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities
for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose
additional information over and above the minimum required under the Listing Rules is encouraged to do so.
2.
If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions
of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other
accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.
3.
Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on
the accounting policy of the entity.
4.
If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been
authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee –
eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the
Disclosure Committee”.
5.
If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with
recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board
should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly
maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the
entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating
effectively.
Quarterly cash flow report for entities subject to Listing Rule 4.7B
5
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