Business
TaskUs Announces Fiscal First Quarter 2022 Results
NEW BRAUNFELS, Texas, May 09, 2022 (GLOBE NEWSWIRE) -- TaskUs, Inc. (Nasdaq: TASK), a leading provider of digital outsourced services focused on serving high
About this update from Taskus, Inc.
[{"type":"text","content":"NEW BRAUNFELS, Texas, May 09, 2022 (GLOBE NEWSWIRE) -- TaskUs, Inc. (Nasdaq: TASK), a leading provider of digital outsourced services focused on serving high growth technology companies, today announced its results for the first quarter ended March 31, 2022. First quarter total revenues of $239.7 million, representing 56.8% of year-over-year growth. All growth was entirely organic.GAAP net income margin of 4.8%, including non-cash stock-based compensation expense of $19.6 million.Adjusted EBITDA margin of 22.6%, non-GAAP adjusted net income margin of 14.6%.Full year 2022 outlook for revenues between $980 million and $1,000 million, representing growth of approximately 30.0% at the midpoint, and Adjusted EBITDA margin of approximately 23%. “In the first quarter, we saw year-over-year organic revenue growth of over 56.8% and our reputation as an employer of choice has allowed us to continue to attract talent to TaskUs. We had approximately 5,700 net new TaskUs teammates join us last quarter, allowing us to meet strong client demand across the globe,” said Co-Founder and CEO, Bryce Maddock. “Our acquisition of heloo in April was another step forward on our growth trajectory and provides us with a solid footprint in Central and Eastern Europe.” First Quarter 2022 Financial and Frontline Highlights ($ thousands, except per share amounts)Three months endedMarch 31, 2022 2021 % ChangeService revenue$239,680 $152,871 56.8%GAAP net income$11,586 $16,507 (29.8)%GAAP net income margin 4.8% 10.8% Adjusted EBITDA$54,131 $39,541 36.9%Adjusted EBITDA margin 22.6% 25.9% Non-GAAP Adjusted Net Income$34,965 $28,198 24.0%Non-GAAP Adjusted Net Income margin 14.6% 18.4% GAAP diluted earnings per share$0.11 $0.18 (38.9)%Non-GAAP Adjusted EPS$0.34 $0.31 9.7% Ended the quarter with 45,800 teammates (approximately 80% working from home), an increase of approximately 5,700 from December 31, 2021.Progress on geographic expansion in Japan, Malaysia, Europe, India and PhilippinesTaskUs Glassdoor score as of March 31, 2022 was 4.6. Second Quarter and Full Year 2022 Outlook For the second quarter and full year 2022, TaskUs expects its financial results to include1: 2022 Outlook Second Quarter Full YearRevenue (in millions)$241.5 to $243.5 $980 to $1,000Revenue growth (YoY) at midpoint35% 30%Adjusted EBITDA Margin22.5% 23% With respect to the non-GAAP Adjusted...