When Federal Treasurer Jim Chalmers hands down the budget on 14 May, the pressing need for fiscal responsibility is likely to trump spending programs.
In an era of fake news, it’s getting more difficult to separate fact from fiction. Yet it’s imperative we do so because the consequences for being deceived can be enormous.
Airtasker shares up almost 15 percent on solid 2Q numbers
Airtasker (ASX:ART) – Shares are up almost 15 percent at the time of writing following record growth numbers announced in the company’s 2Q operational update. The home services app recorded 39%
growth quarter on quarter in Gross Marketplace Volume (GMV) to $48.6m. Q2 revenue increased to $8.1M (up 37.5% on previous quarter and 16.6% on pcp). UK GMV up 121% over the prior corresponding period and US posted task growth of 71% quarter on quarter. Second quarter revenue up 37.5% quarter on quarter to $8.1 million.
After the easing of lockdowns, Airtasker enjoyed a GMV bounce back to its underlying growth trajectory. The number of major city-days in lockdown fell from 188 days in Q1 to 32 days in Q2 resulting in the estimated GMV impact of lockdowns decreasing from $12.0m in Q1 to $2.0m in Q2.
This was followed up with a 24% increase in quarterly average task price over the prior corresponding to $255. Airtasker upgraded its GMV guidance for the second half from $105m to between $107m – $110m.
This gives FY guidance GMV of $191m – $194m up 25% – 27%. Although Airtasker experienced a difficult few years in lockdown, it has recovered and is back on track reporting a rise in average price per task. The upgrade in guidance is a positive sign for investors as it points to continued growth and rise in marketing investment.
