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AIRTASKER LIMITED — Capital/Financing Update 2021
Apr 27, 2021
64424_rns_2021-04-27_fdc85ce4-5f30-4618-bdc8-acd8cddfe899.pdf
Capital/Financing Update
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28 April 2021 ASX RELEASE
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AIRTASKER UPGRADES PROSPECTUS FORECAST
Highlights:
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Strong Q3 FY21 performance ahead of prospectus assumptions
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Airtasker confident to exceed prospectus forecasts and upgrades FY21 GMV and Revenue forecasts
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Including IPO costs Airtasker was $484k operating cash flow positive in Q3 FY21
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Excluding IPO costs the business generated $2.1m positive operating cash flow for the quarter
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GMV and Revenue for Q3 represent 57.9% and 59.7% of the 2H FY21 forecast
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Cumulative paying customers exceeds 1 million
Following a successful listing on ASX on 23 March 2021, Airtasker is pleased to announce trading for the March quarter (Q3 FY21) performed ahead of expectations, with costs below forecast.
Metrics for Q3 FY21 are ahead of forecasts resulting in full year FY21 GMV and Revenue tracking ahead of forecast.
GMV for the 3 months to 31 March was $41.2m (unaudited), representing 57.9% of the 2H FY21 prospectus forecast of $71.3m. The company now expects FY21 GMV of $148m-$152m instead of the $143.7m prospectus forecast.
Revenue also outperformed for the 3 months to 31 March at $7.1m (unaudited), 59.7% of the 2H FY21 prospectus forecast of $11.9m. As a result the company has upgraded its FY21 revenue forecast to $25.5m-$26.0m from the prospectus forecast of $24.5m.
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For further information, please contact:
Media Enquiries Alexandra Aguirre [email protected] +61 428 024 545
Investor Relations www.investor.airtasker.com [email protected]
About Airtasker
Airtasker (ASX: ART) is Australia’s leading online marketplace for local services, connecting people and businesses who need work done with people and businesses who want to work.
With its mission to empower people to realise the full value of their skills, Airtasker aims to have a positive impact on the future of work by creating truly flexible opportunities to work and earn income. Since launching in 2012, Airtasker has enabled more than $1 billion in working opportunities and served more than 1 million unique paying customers.
This announcement was approved for release by the Board of Directors of Airtasker Limited.