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Introduction & Market Context
Airtasker Ltd (ASX:ART), the online marketplace connecting people who need tasks done with those who can do them, reported positive free cash flow and double-digit revenue growth in its Q3 2025 presentation released on May 2, 2025. The company’s stock currently trades at $0.30, down 3.33% from its previous close, within a 52-week range of $0.23-$0.50.
The presentation highlighted Airtasker’s successful expansion strategy, with particularly strong growth in international markets while maintaining profitability in its established Australian operations.
Quarterly Performance Highlights
Airtasker reported positive free cash flow in Q3 2025, contributing to a year-to-date positive free cash flow of $0.6 million as of March 31, 2025. The company’s marketplaces revenue grew 15.8% compared to the prior comparative period (pcp), while overall group revenue increased by 11.6%.
As shown in the following chart of quarterly free cash flow and group revenue:
The company maintained a strong financial position with $18.3 million in cash and term deposits on its balance sheet at the end of the quarter. This financial strength provides Airtasker with flexibility to continue investing in growth opportunities while maintaining positive cash flow.
In the Australian market, revenue grew 10.6% on pcp to $10.8 million, with platform revenue increasing by $1.3 million (up 15.2% on pcp). This was partially offset by a decrease in breakage revenue of $0.3 million (down 29.2% on pcp), which the company attributed to lower cancellations and a more customer-centric refunds process.
The following chart illustrates Airtasker Australia’s financial performance, showing positive net EBITDA:
Notably, Airtasker’s established Australian marketplaces delivered positive EBITDA of $6.0 million (including non-cash marketing of $2.1 million) and positive Australian net EBITDA of $1.5 million after covering all global head office expenditure. These established marketplaces generated approximately $8.6 million in positive cash flow, contributing $4.5 million available for investment in new marketplaces after covering global head office expenditures.
International Expansion Strategy
Airtasker’s international markets showed impressive growth, particularly in the UK and US. The UK operation, which launched with media support in October 2023, saw revenue growth accelerate to 153.2% on pcp, reaching £355,000 in Q3 2025. Trailing twelve-month (TTM) GMV was up 63.8% to $12.8 million (£6.5 million), while revenue increased 112.6% to $2.3 million (£1.2 million).
The UK market’s performance is illustrated in the following charts:
The US market, which launched in September 2024, demonstrated even more dramatic growth, with revenue up 399.0% on pcp to US$86,000. TTM GMV increased 92.0% to $1.5 million (US$1.0 million), while revenue grew 212.2% to $300,000 (US$194,000).
The following charts show the rapid growth trajectory in the US market:
Strategic Growth Model
Airtasker’s growth strategy centers on leveraging its scalable software platform while forming local media partnerships in each market. The company has invested significantly in its platform infrastructure ($18.2 million) and media partnerships across Australia ($11.0 million), UK (£7.5 million), and US (US$21.75 million).
The company’s expansion model is illustrated in this strategic overview:
A key element of Airtasker’s strategy is its city-level marketplace approach, with a goal of achieving $25 million GMV ARR (Annual Recurring Revenue) and cash positivity within three years of launch in each new market. At this milestone, the company can choose to grow without further investment, accelerate with new capital, or optimize for cash generation.
The presentation outlined how a $25 million GMV ARR city-level marketplace generates approximately $5 million in revenue ARR (at a 20% monetization rate) with strong gross profit margins. This model allows the company to efficiently scale its operations across multiple markets.
Financial Position and Outlook
Airtasker reaffirmed its full-year FY25 guidance, projecting positive group free cash flow for the full year and double-digit revenue growth for Airtasker marketplaces. The company emphasized that its Australian operations continue to generate sufficient cash to fund expansion in the UK and US markets.
With $18.3 million in cash and term deposits, plus $35.0 million of prepaid media available to be utilized, Airtasker appears well-positioned to continue its growth trajectory. Management expressed confidence in accelerating momentum and continued revenue growth in both the UK and US markets.
The company’s outlook is summarized in the following slide:
Airtasker’s Q3 2025 presentation demonstrates a company successfully balancing growth with financial discipline, achieving positive free cash flow while continuing to invest in international expansion. The scalable marketplace model appears to be gaining traction, particularly in the UK market where GMV ARR has reached $16.5 million after approximately 18 months of operation, suggesting the company’s city-level marketplace strategy is progressing toward its stated goals.
Full presentation:
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