TaskUs(TASK)

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TaskUs(TASK) - 2023 Q4 - Annual Results
2024-02-28 21:15
Exhibit 99.1 TaskUs Announces Fiscal Fourth Quarter and Full Year 2023 Results NEW BRAUNFELS, Texas, February 28, 2024 — TaskUs, Inc. (Nasdaq: TASK), a leading provider of outsourced digital services and next-generation customer experience to the world's most innovative companies, today announced its results for the fourth quarter and full year ended December 31, 2023. "Despite a challenging macroeconomic backdrop, we finished 2023 strong, delivering both revenue and Adjusted EBITDA that were well ahead of ...
TaskUs(TASK) - 2023 Q3 - Quarterly Report
2023-11-07 21:58
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ Table of Contents FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____________to______________ Commission File Number: 001-40482 _______________________ TaskUs, Inc. (Exact name ...
TaskUs(TASK) - 2023 Q3 - Earnings Call Transcript
2023-11-07 03:14
TaskUs, Inc. (NASDAQ:TASK) Q3 2023 Earnings Call November 6, 2023 5:00 PM ET Company Participants Trent Thrash - Senior Vice President of Corporate Development and Interim Head of Investor Relations Bryce Maddock - Co-Founder and Chief Executive Officer Balaji Sekar - Chief Financial Officer Conference Call Participants Maggie Nolan - William Blair Ryan Patton - Citi Puneet Jain - J.P. Morgan David Koning - Baird James Faucette - Morgan Stanley William McNamara - BTIG Cassie Chan - Bank of America Operator ...
TaskUs(TASK) - 2023 Q3 - Earnings Call Presentation
2023-11-06 23:05
63% Q4 2021 | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------|-------|--------------------------------------------|------------|---------------------------|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...
TaskUs(TASK) - 2023 Q2 - Earnings Call Transcript
2023-08-10 02:18
TaskUs, Inc. (NASDAQ:TASK) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET Company Participants Alan Katz - VP of IR Bryce Maddock - Co-Founder and CEO Balaji Sekar - CFO Conference Call Participants Puneet Jain - JPMorgan Maggie Nolan - William Blair Ryan Potter - Citi Matt VanVliet - BTIG Cathy Chen - Bank of America Merrill Lynch Operator Good afternoon, and welcome to the TaskUs Second Quarter 2023 Investor Call. My name is John, and I'll be your conference facilitator today. And now I would ...
TaskUs(TASK) - 2023 Q2 - Earnings Call Presentation
2023-08-09 22:11
Forward Looking Statements This presentation includes certain financial measures not presented in accordance with United States generally accepted accounting principles ("GAAP"), with non-GAAP financial measures, including Adjusted Net Income, Adjusted Net Income Margin, Adjusted Earnings Per Share, EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin, Free Cash Flow and Conversion of Adjusted EBITDA. Management believes these measures help illustrate underlying trends in TaskUs' business and uses the measure ...
TaskUs(TASK) - 2023 Q2 - Quarterly Report
2023-08-09 20:31
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____________to______________ Commission File Number: 001-40482 _______________________ TaskUs, Inc. (Exact name of re ...
TaskUs(TASK) - 2023 Q1 - Quarterly Report
2023-05-09 20:43
PART I. FINANCIAL INFORMATION [Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the quarter ended March 31, 2023, detailing balance sheets, operations, and cash flows, with accompanying notes Condensed Consolidated Balance Sheet (Unaudited) | (in thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $368,222 | $341,425 | | **Total assets** | $925,444 | $902,015 | | **Total current liabilities** | $114,321 | $109,884 | | **Total liabilities** | $449,689 | $446,402 | | **Total shareholders' equity** | $475,755 | $455,613 | Condensed Consolidated Statement of Operations (Unaudited) | (in thousands, except per share data) | Three months ended March 31, 2023 | Three months ended March 31, 2022 | | :--- | :--- | :--- | | **Service revenue** | $235,306 | $239,680 | | **Operating income** | $18,400 | $20,554 | | **Net income** | $9,509 | $11,586 | | **Diluted EPS** | $0.09 | $0.11 | Condensed Consolidated Statement of Cash Flows (Unaudited) | (in thousands) | Three months ended March 31, 2023 | Three months ended March 31, 2022 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $43,683 | $36,890 | | **Net cash used in investing activities** | ($6,244) | ($17,770) | | **Net cash used in financing activities** | ($7,097) | ($4,094) | | **Cash and cash equivalents at end of period** | $167,011 | $77,074 | - On May 8, 2023, the Board of Directors authorized a **$100.0 million** increase to the Company's share repurchase program, bringing the total authorization to **$200.0 million** As of May 5, 2023, approximately **$155.1 million** remained available for repurchases[81](index=81&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2023 financial results, highlighting a decrease in service revenue due to shifts in service offerings and geographic delivery, alongside an increase in Adjusted EBITDA Service Revenue by Service Offering (Q1 2023 vs Q1 2022) | (in thousands) | Q1 2023 | Q1 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Digital Customer Experience | $157,136 | $159,731 | (1.6)% | | Trust and Safety | $40,598 | $45,852 | (11.5)% | | AI Services | $37,572 | $34,097 | 10.2% | | **Total Service Revenue** | **$235,306** | **$239,680** | **(1.8)%** | Service Revenue by Delivery Geography (Q1 2023 vs Q1 2022) | (in thousands) | Q1 2023 | Q1 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Philippines | $126,859 | $120,080 | 5.6% | | United States | $46,662 | $79,131 | (41.0)% | | India | $28,243 | $23,358 | 20.9% | | Rest of World | $33,542 | $17,111 | 96.0% | - Macroeconomic factors, including inflation and potential recession, have led clients to focus on cost reduction, resulting in a shift of work from onshore (U.S.) to offshore delivery locations and a deceleration in revenue growth[91](index=91&type=chunk) Non-GAAP Financial Highlights (Q1 2023 vs Q1 2022) | (in thousands) | Q1 2023 | Q1 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Adjusted Net Income | $32,511 | $34,965 | (7.0)% | | Adjusted EBITDA | $55,228 | $54,131 | 2.0% | | Free Cash Flow | $38,439 | $19,120 | 101.0% | - Client concentration decreased, with the top ten clients accounting for **58%** of service revenue in Q1 2023, down from **61%** in Q1 2022 The largest client represented **20%** of revenue, down from **24%**[115](index=115&type=chunk)[116](index=116&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from foreign currency fluctuations, interest rate changes, and concentrated credit risk, utilizing forward contracts to mitigate currency exposure - A hypothetical **10%** appreciation/depreciation in the Philippine peso against the U.S. dollar would have impacted expenses by approximately **+$9.6 million** or **-$7.8 million**, respectively, in Q1 2023[149](index=149&type=chunk) - A hypothetical **10%** increase or decrease in the SOFR interest rate would cause an approximate **$1.3 million** change in annual interest expense based on the debt balance as of March 31, 2023[155](index=155&type=chunk) - The company utilizes foreign currency forward contracts to mitigate exchange rate risk, which are not designated as hedging instruments, resulting in unrealized gains of **$6.3 million** in Q1 2023[151](index=151&type=chunk)[153](index=153&type=chunk) - As of March 31, 2023, two clients accounted for approximately **27%** of the company's gross accounts receivable, indicating significant credit risk concentration[156](index=156&type=chunk) [Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that as of March 31, 2023, the company's disclosure controls and procedures were effective[158](index=158&type=chunk) - There were no material changes to the company's internal control over financial reporting during the most recent fiscal quarter[159](index=159&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings, including purported class action lawsuits, which it believes are without merit and intends to vigorously defend - The company is defending a purported class action lawsuit (Lozada v. TaskUs, Inc. et al.) alleging false and misleading information in its IPO registration statement and subsequent earnings calls, with a motion to dismiss pending[68](index=68&type=chunk) - The company is also named in three other lawsuits with similar factual issues, including one related to a 2020 data breach impacting Ledger SAS, which it believes are without merit and is defending vigorously[69](index=69&type=chunk)[70](index=70&type=chunk)[71](index=71&type=chunk) [Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) This section confirms no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2022 - There have been no material changes to the risk factors included in the Annual Report on Form 10-K[163](index=163&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2023, TaskUs repurchased **389,801** shares of Class A common stock for approximately **$6.4 million**, with **$62.7 million** remaining available under the program Issuer Purchases of Equity Securities (Q1 2023) | Period | Total Number of Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | January 2023 | 106,148 | $17.32 | | February 2023 | 48,300 | $19.01 | | March 2023 | 235,353 | $15.37 | | **Total** | **389,801** | | - The share repurchase program, authorized on September 7, 2022, allows for up to **$100.0 million** in repurchases of Class A common stock through December 31, 2024[164](index=164&type=chunk) [Defaults Upon Senior Securities](index=31&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon its senior securities during the period - None[166](index=166&type=chunk) [Mine Safety Disclosures](index=31&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not applicable[167](index=167&type=chunk) [Other Information](index=31&type=section&id=Item%205.%20Other%20Information) This section includes a disclosure required by Section 13(r) of the Exchange Act, referencing Exhibit 99.1 regarding activities of a potential affiliate, Mundys S.p.A - The report includes a disclosure pursuant to Section 13(r) of the Exchange Act concerning activities of a potential affiliate, Mundys S.p.A. (formerly Atlantia S.p.A.), related to Iran[168](index=168&type=chunk) [Exhibits](index=32&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Quarterly Report on Form 10-Q, including corporate documents, executive certifications, and the Section 13(r) disclosure - The exhibits filed include CEO and CFO certifications (31.1, 31.2, 32.1, 32.2) and the Section 13(r) Disclosure (99.1)[169](index=169&type=chunk)
TaskUs(TASK) - 2023 Q1 - Earnings Call Transcript
2023-05-09 03:26
TaskUs, Inc. (NASDAQ:TASK) Q1 2023 Earnings Conference Call May 8, 2023 5:00 PM ET Company Participants Alan Katz - VP of IR Bryce Maddock - Co-Founder and CEO Balaji Sekar - CFO Conference Call Participants Maggie Nolan - William Blair Puneet Jain - JPMorgan David Koning - Baird Kathy Cheng - Kathy Cheng Ryan Potter - Citi Matt VanVliet - BTIG Operator Good morning, and welcome to the TaskUs First Quarter 2023 Investor Call. My name is John, and I'll be your conference facilitator today. At this time, all ...
TaskUs(TASK) - 2023 Q1 - Earnings Call Presentation
2023-05-08 21:03
Disclaimers This presentation includes certain financial measures not presented in accordance with United States generally accepted accounting principles ("GAAP"), with non-GAAP financial measures, including Adjusted Net Income, Adjusted Net Income Margin, Adjusted Earnings Per Share, EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin, Free Cash Flow and Conversion of Adjusted EBITDA. Management believes these measures help illustrate underlying trends in TaskUs' business and uses the measures to establish ...