Airtasker Limited has reported a robust 3Q25 with positive free cash flow and remarkable revenue growth in its UK and US marketplaces, signalling strong momentum in its international expansion.
- Positive free cash flow of $0.6 million year-to-date
- Marketplaces revenue up 15.8% on prior year
- UK marketplace revenue soars 153%, GMV ARR hits $16.5 million
- US marketplace revenue surges 399%, GMV ARR reaches $3.6 million
- Strong cash position of $18.3 million supports ongoing growth
Strong Financial Foundations
Airtasker Limited has delivered another quarter of positive free cash flow, reporting $0.6 million year-to-date as of 31 March 2025. This achievement comes alongside an 11.6% increase in group revenue to $13.6 million, driven primarily by a 15.8% rise in marketplaces revenue to $11.7 million. The company’s cash receipts from customers grew by 17.9%, reflecting steady consumer demand and effective monetisation strategies.
Despite increased operating cash outflows; largely due to seasonal marketing spend and upfront costs for a new television commercial; Airtasker ended the quarter with a solid cash and term deposits balance of $18.3 million. The company reaffirmed its guidance for positive free cash flow for the full fiscal year 2025, underscoring confidence in its financial trajectory.
Marketplace Growth – Australia, UK, and US
The Australian marketplace remains the backbone of Airtasker’s revenue, contributing $10.8 million in the quarter with a 10.6% year-on-year increase. This growth was supported by a 15.2% increase in platform revenue and improvements in customer experience, including reduced cancellations and a more customer-centric refund policy.
Internationally, Airtasker’s UK marketplace has gained significant traction, with gross marketplace volume (GMV) annualised run rate (ARR) reaching $16.5 million. UK revenue surged 153% year-on-year to £355,000 ($3.5 million), driven by a 69.2% increase in posted tasks and a 76.8% rise in GMV. This growth is attributed to sustained brand investment, notably through Channel 4 advertising campaigns, and expansion in key cities such as Birmingham and Manchester.
Meanwhile, the US marketplace is emerging as a high-growth frontier, with revenue up an extraordinary 399% year-on-year to US$86,000 and GMV ARR hitting $3.6 million. This momentum is fuelled by strategic advertising partnerships with media giants like TelevisaUnivision, iHeartMedia, Sinclair, and Mercurius, alongside new city launches in Austin and Las Vegas.
Investment and Profitability Dynamics
Airtasker’s established marketplaces delivered a positive EBITDA of $6.0 million in 3Q25, including $2.1 million in non-cash marketing expenses. After accounting for global head office costs and innovation investments, the Australian net EBITDA stood at a positive $1.5 million. However, the group’s overall EBITDA was negative $11.4 million, reflecting a $12.9 million net investment in new marketplaces, primarily through non-cash media advertising services provided by media partners.
The company has issued convertible notes to key media partners in Australia, the UK, and the US, effectively leveraging advertising spend without immediate cash outlay. While this strategy supports aggressive brand building and market penetration, it also implies future considerations around equity dilution and long-term profitability.
Looking Ahead
Founder and CEO Tim Fung highlighted the company’s achievements with enthusiasm, praising the team and media partners for their role in driving growth. Airtasker’s partnership with the Visa Cash App Racing Bulls Formula One™ Team also continues to raise brand visibility. As Airtasker balances rapid international expansion with disciplined cash flow management, the coming quarters will be critical in demonstrating the sustainability of its growth model and the return on its marketing investments.
Bottom Line?
Airtasker’s bold international push and positive cash flow set the stage for a pivotal year ahead, but investors will watch closely for marketing ROI and EBITDA trends.
Questions in the middle?
- How will Airtasker manage potential equity dilution from convertible notes tied to advertising spend?
- What is the expected timeline for marketing investments to translate into sustained profitability?
- Can Airtasker maintain positive free cash flow while scaling aggressively in the UK and US?