Airtasker : interesting to look at the dynamic of their Australian business. The main driver of their business (number of booked tasked) has not increased much since FY 20, which is obviously disappointing. But also useful to put that into relation with their marketing costs and total costs, which had a significant decrease during the same period and explain why the company has now reached a high EBITDA margin in Australia (28 %). So, the company has done the easy part of the job : cutting costs.
Now they have to do the more difficult part : increase again the number of booked tasked in Australia (GMV was down 4.6 % in FY 24, due both to a decrease of unit price and a decrease of booked tasks). We know that they are going to increase again significantly their marketing costs in Australia in FY 25, so we will be able to see if it has the impact they expect (double digit growth for the Australian business).
