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Introduction & Market Context
Airtasker Ltd (ASX:ART) released its fourth quarter and full-year 2025 results on July 30, showcasing continued positive free cash flow and accelerating revenue growth across its markets. The company’s share price responded positively, rising 6.78% to close at $0.31, as investors welcomed the combination of sustainable cash generation and international expansion momentum.
The gig economy platform has successfully leveraged its established Australian operations to fund growth in the UK and US markets, where triple-digit revenue increases highlight the scalability of its marketplace model. With $19.1 million in cash and term deposits on its balance sheet, Airtasker appears well-positioned to continue its global expansion strategy.
Quarterly Performance Highlights
Airtasker delivered its fourth consecutive quarter of positive free cash flow in Q4 2025, generating $670,000 and bringing the full-year total to $1.2 million. This marks the second consecutive year of positive free cash flow for the company, demonstrating the sustainability of its business model.
As shown in the following chart of quarterly free cash flow performance:
Revenue growth accelerated significantly in the fourth quarter, with Airtasker marketplaces revenue increasing 28.9% year-over-year to $11.7 million. Group revenue, which includes the Oneflare business, rose 20.6% to $13.4 million. For the full fiscal year 2025, Airtasker marketplaces revenue grew 18.4% to $45.1 million, while group revenue increased 13.0% to $52.7 million.
The company’s established Australian operations continued to perform strongly, with revenue growing 20.7% year-over-year to $10.3 million in Q4. Platform revenue specifically increased by 22.8% ($1.8 million) compared to the prior corresponding period. The Australian business generated positive EBITDA of $7.0 million, including non-cash marketing of $1.2 million.
As illustrated in this performance chart for the Australian market:
Detailed Financial Analysis
Airtasker’s financial position has strengthened considerably, with $19.1 million in cash and term deposits on its balance sheet as of June 30, 2025. The company also has $27.9 million of prepaid media available to be utilized, providing additional marketing firepower without impacting cash flow.
A key aspect of Airtasker’s financial strategy is the cash generation from established marketplaces. In Q4 2025, these operations delivered approximately $4.8 million in positive cash flow after covering all global head office expenditure, providing capital to invest in the UK and US markets. For the full year, Australian marketplaces generated approximately $15.3 million in cash after funding all global head office costs.
The UK operation is approaching the company’s target of $25 million GMV ARR (Gross Merchandise Value Annual Run Rate), having achieved $21.0 million (£10.1 million) as of June 30, 2025. Revenue growth in the UK remained strong at 104.8% year-over-year to £512,000 in Q4, while trailing twelve-month GMV increased 74.8% to $15.0 million (£7.5 million).
The UK market performance is visualized in this chart:
The US market, while at an earlier stage, is showing even more dramatic growth rates. Q4 revenue increased 754.5% year-over-year to US$188,000, with GMV ARR reaching $7.5 million (US$4.8 million) by the end of the quarter. Trailing twelve-month GMV rose 251.7% to $2.8 million (US$1.8 million).
The US market trajectory is illustrated here:
Strategic Initiatives
Airtasker has established a clear strategic framework for its global expansion, centered around a city-level marketplace approach. The company aims to achieve $25 million GMV ARR and cash positive operations within three years for each new market. At this level, a marketplace generates approximately $5 million in revenue ARR (at a 20% monetization rate) with strong gross profit margins.
The company’s new city-level marketplace goal is outlined in this strategic framework:
A key element of Airtasker’s expansion strategy is leveraging media partnerships to accelerate growth efficiently. The company has secured partnerships with major media companies including Channel 4 Ventures, ARN, iHeartMedia (NASDAQ:IHRT), Televisa Univision, Mercurius Media Capital, and Sinclair Broadcast (NASDAQ:SBGI) Group. These relationships provide access to advertising inventory that helps Airtasker scale in new markets without significant upfront cash expenditure.
The company’s scalable platform approach is visualized in this strategic overview:
Forward-Looking Statements
Airtasker’s management expressed confidence in the company’s growth trajectory, highlighting the accelerating momentum in both the UK and US markets. The established playbook for new market entry, combined with the cash generation from Australian operations, positions the company for continued expansion.
The FY25 results summary highlights the key achievements and strategic positioning:
With its proven marketplace model, strong cash position, and clear expansion strategy, Airtasker appears well-positioned to continue its growth trajectory in fiscal year 2026. The company’s focus on achieving both growth and positive cash flow demonstrates a balanced approach to expansion that should appeal to investors looking for sustainable business models in the digital marketplace sector.
Full presentation:
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