Airtasker (ASX:ART) reported a 34.1% year-on-year increase in revenue in Q3 2023, reaching $11.5 million.

Gross marketplace volume (GMV) increased 25.7% to $64.8 million.

The Australian marketplace set a record by generating $1.5 million in net EBITDA.

The UK marketplace saw a 61.4% increase in GMV, while US operations experienced a significant increase in posted tasks and tasker offers.

Despite the strong revenue results, the company had an operating cash burn of $1.2 million, with $20.6 million cash on its balance sheet and no debt.