Doug Goodwille from Kayne Anderson speaks to Drew Meredith from The Inside Network on market thinkers.
While a surging gold price is on hold as the world adjusts to a Trump presidency, all the factors that saw its price rise more than 50 per during his first term in office – trade disputes, fiscal deficits and geopolitical tensions – are almost certainly guaranteed the second time around.
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.
