Airtasker’s Q4 shows momentum building behind its global push

Airtasker strengthened its cash and kept scaling without the need for fresh capital.

Picture via Getty Images

• Airtasker posts second year of positive free cash flow

• Australian business drives cash flow, funds UK and US growth

• UK hits $21m GMV ARR, US revenue jumps 755pc as global rollout builds

 

Special Report: In Q4, Airtasker strengthened its cash position, accelerated international momentum and showed it can scale globally without raising capital.

Airtasker’s fourth quarter wasn’t just routine housekeeping.

It wrapped up FY25 with revenue picking up speed, overseas markets gaining traction and a second straight year of positive free cash flow.

A steady finish then, and one that shows the model’s really starting to hold together. That’s no small feat for a company still building out its global engine.

While losses at the group level remain (thanks largely to a wall of marketing investment in the UK and US), the fundamentals under the bonnet are starting to hum.

So, what’s really going on, and what should investors make of the numbers?

Positive cash flow rolls on

For the full year, Airtasker delivered $1.2 million in positive free cash flow, its second year in the black.

Even more impressive, the company notched up four straight quarters of positive free cash flow, closing out Q4 with $670k in the bank after everything was paid.

It’s a pattern that reflects strong operational control and cash discipline, especially during global expansion.

Source: Airtasker

Airtasker’s Australian business, known as the Established Marketplaces segment (which includes Airtasker Australia and Oneflare), pulled in around $9.2 million in cash for the quarter.

After funding all global head office costs (about $4.4 million), that left $4.8 million to fuel the company’s UK and US expansion.

As of June 30, Airtasker had $19.1 million in cash and term deposits on the balance sheet, along with a further $27.9 million in prepaid media from major partnerships including Channel 4 in the UK and TelevisaUnivision in the US.

In other words, it’s got ammo, and it’s firing it strategically.

Australia powers the machine

Back on home soil, Airtasker’s core marketplace is still doing the heavy lifting.

Revenue in Airtasker Australia grew 20.7% year-on-year in Q4 to $10.3 million.

That was faster than the 10.6% growth reported in Q3, and driven by a 22.8% lift in platform revenue.

Cancellation-related “breakage” revenue, meanwhile, kept dropping – part of Airtasker’s move to a more customer-friendly refunds policy.

For the full year, Airtasker Australia delivered $41.6 million in revenue, up 13.5% from FY24.

That’s a stronger growth rate than the prior year’s 8.6%, suggesting Airtasker has found another gear in its home market.

It’s also increasingly profitable.

Established Marketplaces delivered $7 million in EBITDA for the quarter, with $2.5 million of that being net EBITDA after paying head office costs.

Most of it was reinvested into global growth,  but the engine is clearly well-oiled and pulling its weight.

The UK is nearing escape velocity

Over in the UK, Airtasker’s performance is starting to look less like a trial run and more like a legitimate business.

Quarterly revenue more than doubled, up 104.8% year-on-year to £512k, with posted tasks climbing nearly 37% and GMV surging 64% to £2.4 million.

Trailing twelve-month (TTM) GMV now stands at $15 million, and TTM revenue at $2.9 million.

Even more telling, UK annualised GMV run rate hit $21 million as of June 30, putting it within striking distance of Airtasker’s city-level target.

In Airtasker’s own words, the UK is closing in on the magic number: $25 million in GMV ARR.

This, it said, is the level where a city-level marketplace can become cash-positive within three years.

All this comes on the back of Airtasker’s ongoing media partnership with Channel 4, and growth in major hubs like Birmingham and Manchester.

America – from 0 to 100, real quick

If the UK is lifting off, the US is lighting rockets.

Quarterly revenue in the States surged 754.5% on-year to US$188k. That’s coming off a low base, sure, but momentum is building fast.

GMV jumped more than 550% to US$931k in Q4, helped by Airtasker’s new launches in Austin and Las Vegas, and amplified through partnerships with media giants like iHeartMedia and Sinclair.

TTM GMV reached $2.8 million and TTM revenue $560k, with GMV ARR climbing to $7.5 million at the end of June.

It’s early days, but the trajectory is steep and backed by some heavyweight marketing muscle that Airtasker’s not paying for in cash.

This is the growth engine Airtasker has been gearing up to unleash.

Group numbers show growth with grit

At a group level, revenue grew 20.6% year-on-year in Q4 to $13.4 million.

For the full year, group revenue rose 13% to $52.7 million, solid growth despite heavy upfront investment in new markets.

Airtasker marketplaces (that’s Australia, the UK, and the US combined) saw revenue climb 28.9% in Q4, and 18.4% for the full year to $45.1 million.

Source: Airtasker

Booked tasks were up 11.4%, and task cancellations continued to fall, pointing to improved marketplace reliability and stronger user experience.

Monetisation remains solid at around 20%, and Airtasker says improvements in task pricing and matching efficiency are still coming.

But it’s not all smooth sailing.

Group EBITDA was negative $7.2 million in Q4, mostly due to non-cash marketing investments across the UK and US.

That’s expected to continue into FY26 as Airtasker continues to burn through its prepaid media deals.

But that’s part of the plan, and thanks to its Australian cash cow, Airtasker is spending on growth without raising capital or dipping into debt.

In a world where burn rates still scare investors, Airtasker’s balancing act is worth noting here.

So, what’s next?

With two years of positive free cash flow and a profitable base in Australia, Airtasker is now focused on scaling its model across global cities.

The UK is closing in on $25 million in GMV ARR, Airtasker’s benchmark for a self-sustaining city, and the US is gaining pace off a low base.

Once that threshold is reached, the company says it can either reinvest, accelerate, or optimise for dividends.

“With Airtasker marketplaces revenue growth accelerating to 29% this quarter on pcp combined with our second consecutive year of positive free cash flow – we couldn’t be more pumped for what’s ahead as we scale our mission across the globe,” said CEO Tim Fung.

Airtasker is indeed prioritising the long game.

And with Australia bringing in the cash, it looks like it has the fuel to go global without forcing the pace.

This article was developed in collaboration with Airtasker, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.