Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Airtasker share price skyrockets 50% following oversubscribed IPO

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

Airtasker share price skyrockets following oversubscribed IPO Source: Bloomberg

The 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.'

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

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. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

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

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Tuesday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

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.