Fund Manager Summary
The fund managers believe that Airtasker Ltd presents a compelling investment opportunity, particularly given its current share price of approximately $0.26. In their opinion, the company’s strong fundamentals, characterized by an average of 10% EPS growth over the past two years, underpin its potential for future growth. They highlight the significant exposure to commodities like gold and copper, which is expected to benefit from a cyclical recovery as prices rise. Furthermore, the managers see substantial potential in the Life Sciences division, bolstered by strategic acquisitions and increasing global regulations. The optimism surrounding the Nuvisan acquisition and the operational efficiencies that provide a competitive edge are also noted as key factors. Overall, the fund managers view the current low P/E ratio as an attractive entry point for investors.
Source: Trading View
Commentary From The Managers
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Saville Capital
31 Oct 2025
$0.38
Summary
- Airtasker Ltd (ART) received a £2.5 million (A$5.1 million) investment from Channel Four (UK) to boost growth in the UK market.
- ART's UK operations achieved a GMV annualised run rate of over $21 million as of June 2025, reflecting a ~90% increase compared to the previous corresponding period.
- Despite strong performance and strategic partnerships, ART is trading at less than 2.5x FY26 EV/Revenue.
- The Australian business remains highly profitable, generating solid double-digit growth.
- This profitability is being leveraged to support a promising growth strategy in the US and UK markets.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Saville Capital
31 Oct 2025
$0.38
- Airtasker Ltd (ART) received a £2.5 million (A$5.1 million) investment from Channel Four (UK) to boost growth in the UK market.
- ART's UK operations achieved a GMV annualised run rate of over $21 million as of June 2025, reflecting a ~90% increase compared to the previous corresponding period.
- Despite strong performance and strategic partnerships, ART is trading at less than 2.5x FY26 EV/Revenue.
- The Australian business remains highly profitable, generating solid double-digit growth.
- This profitability is being leveraged to support a promising growth strategy in the US and UK markets.
Summary
Endeavor Asset Management
31 July 2025
$0.36
- Airtasker (ASX: ART) completed a strong financial year with a positive June quarter, boosting investor interest.
- The company’s performance-marketing driven launch strategy yielded exceptional results in its new UK and US marketplaces, exceeding market expectations.
- In Australia, the core business demonstrated impressive marketplace growth of over 20%.
- A strengthening network effect and strategic reinvestment in marketing position management to sustain and potentially accelerate revenue growth.
- Endeavor Asset Management continues to hold due to the 36% increase in ART shares in July, reflecting strong market confidence.
Summary
Saville Capital
31 July 2025
$0.36
- Saville Capital reports a stellar quarter of growth for ART, with marketplace revenue accelerating to +28.9% on pcp, compared to 3Q's +15.8%.
- Growth is driven by strength across all geographies, with Australian revenue growth at +20.7% (up from 10.6% in 3Q).
- The UK market shows impressive growth at +104.8% on pcp, and the US at +754.5% on pcp, both growing rapidly from a low base.
- UK has surpassed $20m annualised GMV, reaching a key inflection point with established scale.
- The US is significantly outperforming initial expectations.
- ART continues to generate modest positive free cash flow, reinvesting profits from Australia back into international expansion.
- Australia generated approximately $15m of Cash EBITDA in FY25 while maintaining a strong balance sheet with $18.5m of cash on hand.
- Saville Capital believes the Australian business alone is worth more than ART’s current market capitalisation, providing investors with a fully-funded free option on international expansion.
Summary
Endeavor Asset Management
30 Apr 2025
$0.34
- Airtasker (ART) shares rose 17.5% in April due to a strong quarterly update.
- Momentum continues in the UK and US markets, indicating potential for growth.
- Endeavor Asset Management believes ART is misunderstood and undervalued.
- The performance-based structure of media partnerships offshore is a key factor in this valuation.
- With no duplication of head office costs in international regions, operational success significantly impacts group profit.
- The recent results are viewed as a constructive step toward scale in the UK and US markets.
- These developments help de-risk long-term forecasts for the company.
- Early indicators for Q4 suggest ongoing traction, with potential for valuation upside.
- As the UK business gains market recognition, the domestic operation may be re-rated accordingly.
Summary
Saville Capital
30 Apr 2025
$0.34
- Saville Capital continues to hold due to encouraging quarterly results from Airtasker Ltd (ART).
- ART's revenue in the UK increased by +153% on the previous corresponding period (pcp), up from +95% in 2Q FY25.
- Overall, ART’s total marketplace revenue growth of +15.8% on pcp remains solid and consistent with recent trends.
- This growth is driven by steady consumer demand, ongoing marketplace reliability improvements (i.e. lower cancellation rates), and yield management initiatives.
- ART’s monetisation rate has reached a record 22.3%, up from 20.5% in the pcp.
- The Company is generating positive free cash flow while utilizing its non-cash inventory from media deals in Australia, the UK, and US.
Summary
Saville Capital
28 Feb 2025
$0.36
- ART’s share price remains under significant pressure despite solid revenue and cash flow results.
- EBITDA in 1H FY25 decreased; however, this was well-flagged by the Company.
- Airtasker is focusing on utilising advertising inventory acquired through various media company deals.
- The impact of EBITDA changes is non-cash and ART remains cash flow positive.
- Increased brand investment is expected to lead to accelerating top-line growth in target markets.
- There is currently aggressive selling pressure from at least one party affecting the share price.
- Saville Capital continues to hold because of the potential for increased awareness and customer engagement.
Summary
Saville Capital
31 Jan 2025
$0.43
- Airtasker Ltd (ART) showed further improvement in 2Q FY25, with revenue growth accelerating to +11.4% on pcp, compared to +8.5% in 1Q FY25.
- Airtasker marketplaces revenue grew by 15.8% on pcp, though OneFlare remains a drag on overall revenue growth.
- Airtasker Australia marketplaces revenue was up 12.8% on pcp, marking a welcome return to double digit growth.
- UK revenue increased by 95.2% on pcp, while the US revenue skyrocketed by 278.6%.
- The momentum in revenue growth was driven by strong consumer demand, with booked tasks up 10.9% on pcp.
- Cancellations reduced by 1.2% on pcp and the monetisation rate improved +3.6% to 20.8%.
- ART continues to generate positive free cash flow and increased its cash balance to $18.3m.
- Funds from media deals are being utilized for a significant investment in brand marketing.
- Marketing initiatives are expected to provide an initial uplift in consumer demand, focused on brand awareness which typically has a longer payback period.
Summary
Endeavor Asset Management
31 Jan 2025
$0.43
- Endeavor Asset Management initiated a position in Airtasker (ART), an Australian digital marketplace for everyday tasks.
- Airtasker allows users to post jobs specifying details and payment, while taskers propose interest and pricing.
- Revenue model includes a service fee of 12.5% to 20% charged to taskers upon task completion.
- Airtasker has shown self-sustaining growth with a strong market presence in Australia.
- In FY24, Airtasker reported $45.2 million in revenue and 24% growth in attributable EBITDA, reaching $31.0 million.
- Managed to retain $12.8 million in EBITDA for reinvestment in international expansion, targeting the UK and US markets.
- Early indicators in the UK and US markets show rising gross marketplace volume and increased brand awareness.
- With an enterprise value of $170 million, Airtasker’s $13 million cash flow from Australia limits downside risk.
- Potential for significant upside if Airtasker successfully scales in the UK and US.
- Company’s 90%+ gross profit margins enhance the ability to scale without replicating costs.
- Endeavor Asset Management remains positive on Airtasker’s growth trajectory and long-term shareholder value potential.
Summary
Saville Capital
30 Nov 2024
$0.32
- Airtasker Ltd (ART) announced a US$12.0 million (A$18.4 million) media capital deal through a partnership with Sinclair Broadcast Group.
- This partnership enables promotion of the Airtasker brand across Sinclair’s 185 television stations and digital networks in the US.
- Airtasker UK Ltd secured an additional £4m (A$7.8m) in media capital from Channel Four Television Corporation, enhancing their initial investment of £3.5m from June 2023.
- These recent investments bring Airtasker’s total media capital raised in 2024 to A$51.6 million.
- Saville Capital believes the market underestimates the optionality and upside from these media partnerships.
- Saville Capital maintains confidence in observing the impact of these deals before determining the most efficient funding mechanisms.
Summary
Saville Capital
31 Oct 2024
$0.31
- Airtasker (ART, +2%) has reported a strong quarter with marketplace revenue growth of +13.6% on a quarter-on-quarter basis.
- Significant growth in the UK, with a remarkable +104.4% increase, attributed to an effective targeted media strategy.
- Positive free cash flow generation reflects ART's strategic reinvestment approach.
- Airtasker is focusing its profits from Australian operations into international markets, specifically the UK and US, while maintaining a solid net cash position of -$18m.
- Anticipated increased seasonality in the Australian marketplace over the next two quarters.
- Plans for heightened marketing investment in Australian, UK, and US markets through enhanced media partnerships.
- Airtasker is confident in sustaining current revenue growth momentum, reaffirming guidance for positive Group free cash flow in FY25.
- The market is currently pricing Airtasker as if it has no growth potential; however, recent media partnerships are expected to accelerate growth rates.
- Increased growth should garner more investor interest across all markets.
Summary
Saville Capital
30 Sept 2024
$0.30
- Airtasker USA raised US$9.75m (~A$14.4m) through partnerships with iHeartMedia and TelevisaUnivision.
- iHeartMedia, a leading audio company, offers access to 276 million monthly listeners.
- TelevisaUnivision provides access to 100 million daily users across TV, digital, and audio platforms.
- Multi-year partnership with iHeartMedia includes US$5m (~A$7.4m) in advertising inventory via a convertible note with a 5.0% coupon.
- Partnership with TelevisaUnivision secures US$4.75m (~A$7m) in advertising inventory in exchange for a 17.1% equity stake in Airtasker USA.
- These deals are seen as strategically and financially savvy, fostering partnerships with key US media organizations.
- Focus on preserving cash and avoiding equity dilution while the stock remains undervalued.
- Saville Capital continues to hold because of the positive implications for brand awareness in the US market.
Summary
Saville Capital
31 July 2024
$0.31
- Airtasker (ART) experienced a solid finish to FY24.
- 4Q revenue growth was impressive at +76.3% in the UK.
- Monetisation strategy involves an advertising campaign with Channel 4.
- GMV growth in Australia remains subdued but is expected to improve in FY25.
- Recent marketing deals with ARN and OML set to begin in September.
- Potential for further upside in ART’s monetisation rate.
- Ongoing changes aimed at enhancing this key business metric.
- Saville Capital continues to hold an optimistic view on Airtasker’s prospects.
Summary
Saville Capital
30 June 2024
$0.26
- Saville Capital updates its investment thesis on Airtasker Ltd (ART, 0%).
- Airtasker announced a $6m media partnership with oOh!media Limited (OML) to enhance brand awareness across Australia.
- The partnership enables ART to scale capital efficiently via access to OML’s network of >35,000 sites.
- Terms include $6m in OML inventory for a 2-year $5m convertible note with a 5.8% coupon rate.
- At maturity, ART has the option to convert the note into ordinary shares at 10% discount or repay in cash.
- ART has a current brand awareness of 64% and a cash balance of ~$20m.
- Saville Capital views the deal as a strategic move to maintain brand recognition and stimulate growth.
- Continued marketing is essential for ART, which is critical for activating both existing and new clients.
- Saville Capital prefers ART to preserve its cash balance for potential strategic M&A opportunities.
- This deal may help avoid future reliance on expensive equity funding for operating losses.
Summary
Saville Capital
31 May 2024
$0.26
- Saville Capital continues to hold Airtasker Ltd. as a core position, emphasizing its strong market presence.
- Despite fluctuating share price over recent years, Saville Capital sees solid fundamentals with consistent growth.
- Airtasker's exposure to emerging sectors, particularly in gig economy services, positions it favorably for growth.
- The Fund identifies significant potential driven by strategic growth initiatives and partnerships.
- Continued investment in technology and user experience is viewed as critical for sustaining competitive advantage.
- As Airtasker adapts to market conditions, Saville Capital believes it remains an attractive opportunity for long-term investors.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
ANALYST INSIGHT
Equity Research Analyst
"With a compelling blend of solid fundamentals and strategic acquisitions, it appears Airtasker Ltd could be poised for a breakout, especially as commodity prices recover and operational efficiencies kick in. The current low P/E ratio might just signal a ripe opportunity for savvy investors."
Last Updated: 31 Oct 2025
Query The Data
Frequently Asked Questions
Who is investing in Airtasker Ltd (ASX:ART)?
Fund managers including Saville Capital and Endeavor Asset Management have invested in Airtasker Ltd (ASX:ART).
Why do fund managers invest in Airtasker Ltd?
Fund managers are investing in Airtasker Ltd due to its solid fundamentals and growth potential. The company has demonstrated consistent earnings growth, strong market positioning, and a competitive edge in its industry. Additionally, its strategic acquisitions and exposure to recovering commodity prices enhance its attractiveness. The current low P/E ratio further signifies a favorable investment opportunity as the company navigates through temporary challenges.
What happened to Airtasker Ltd (ASX:ART)?
Fund managers are investing in Airtasker Ltd (ASX: ART) due to its impressive financial performance, marked by significant revenue growth in both domestic and international markets. The company's marketplace revenue accelerated by 28.9% year-on-year, with Australian growth at 20.7% and exceptional increases in the UK (104.8%) and US (754.5%). Airtasker has established a strong presence in these markets, driven by a successful performance-marketing strategy and disciplined reinvestment. The Australian business generates positive cash flow, which supports international expansion. With a strong balance sheet and a market valuation that undervalues its core business, Airtasker presents a compelling investment opportunity.