Airtasker share price skyrockets 50% following oversubscribed IPO

Busy? We look at the key things you need to know about the Airtasker IPO.


Following a small hiccup on Monday, Airtasker successfully completed its initial public offering (IPO) on Tuesday, March 23.

The company said its IPO was oversubscribed, with the company's staff and taskers – an affectionate term for those who complete jobs on the Airtasker platform – subscribing for over $2.5 million worth of shares.

Airtasker trades under the ticker ART.

Interested in trading Airtasker for yourself? Open an account with IG now

The Company

The Airtasker platform connects people who need tasks done with those looking to do tasks. The scope of these tasks is relatively broad, ranging from baking, babysitting, cleaning and even car repair.

Though the platform is associated with smaller tasks and odd jobs, it can theoretically be used for large and complex projects.

Five Fundamentals

Connecting people who want a service with those willing to deliver a service – especially through a slick app – has grown in popularity in recent years. Think Uber, Deliveroo and others.

Off the back of these trends, Airtasker’s revenue grew 24% in 2020, hitting $19.3 million.

  • The company said it expects its revenue to grow ~26% in 2021.

Gross profits hit $17.9 million in 2020 and are expected to reach $22.8 million in 2021.

Despite that growth, Airtasker remains loss making, reporting negative earnings (EBITDA) of $3.9 million and a net loss of $5.2 million in 2020. The company said it expected net losses to accelerate in 2021, forecast to hit negative $6.2 million.

The company said it had 4.3 million registered users, at the time of the IPO Prospectus lodgement.

The above are Airtasker’s proforma metrics and forecasts.

Airtasker Share Price

Investor demand for the company’s stock was intense upon listing, with Airtasker hitting 97.5 cents per share by 12:31 PM – implying a move of close to 50% from its IPO offer price.

CEO Comments

Airtasker’s CEO, speaking of Tuesday’s IPO, said:

'We've been absolutely delighted by the response Airtasker received from institutional and retail investors in our IPO which was more than 5X oversubscribed. But an even more important signal is the demand we received from our Tasker community and our staff, who subscribed for shares more than 100X our initial expectations.'

'We have an incredible foundation to build from and we're excited to be taking our new shareholders on the exciting journey to fulfill Airtasker's mission: to empower people to realise the full value of their skills.'

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.