Thu, Nov 7, 10:15 PM (128 days ago)
For the quarter ended September 30, 2024, TaskUs, Inc. (TASK) reported service revenue of $255,345, a 13.2% increase compared to $225,626 in Q3 2023. Net income rose to $12,699 from $9,772, driven by revenue growth and favorable foreign currency impacts, despite rising costs and litigation expenses. Adjusted Net Income increased 14.4% to $34,277, while Adjusted EBITDA grew 3.4% to $54,215. The company faced increased operating expenses, primarily from personnel costs and litigation, leading to an operating income of $24,194, up 5.4% year-over-year. For the nine-month period, revenue rose 4.4% to $720,743, with net income increasing 25.8% to $37,011. However, Adjusted Net Income decreased 4.4% to $90,184, reflecting higher costs. Cash flow from operations was robust at $98,230, although down from $103,895 in the prior year. The company maintains a strong liquidity position with $180,381 in cash and $190 million available under its credit facility. TaskUs continues to navigate pricing pressures while investing in growth to capitalize on market recovery trends.