Business
TaskUs Announces Fiscal Second Quarter 2021 Results
Second quarter total revenues of $180.0 million, representing 57.4% of year-over-year growth, which was entirely organicGAAP net income margin of -58.9%,
About this update from Taskus, Inc.
[{"type":"text","content":"Second quarter total revenues of $180.0 million, representing 57.4% of year-over-year growth, which was entirely organicGAAP net income margin of -58.9%, including a $129.4 million one-time expense related to phantom stock bonuses to TaskUs employees and $6.8 million of other IPO related expensesAdjusted EBITDA margin of 24.5%, non-GAAP adjusted net income margin of 17.4%Full year 2021 outlook for revenues between $705 and $709 million, representing growth of approximately 48% at the midpoint, and Adjusted EBITDA margins of between 23.7% and 24.1%1 NEW BRAUNFELS, Texas, Aug. 10, 2021 (GLOBE NEWSWIRE) -- TaskUs, Inc. (Nasdaq: TASK), a leading outsourcing provider for high growth companies, today announced its results for the second quarter of 2021, ended June 30, 2021. “Today is an exciting milestone as we release our first earnings report as a public company. We started TaskUs in 2008 to provide tech-enabled outsourced services to the fastest growing companies in the digital economy,” said Co-Founder and CEO, Bryce Maddock. “In the second quarter of 2021 we continued that mission, completed a successful IPO and delivered strong financial results. Q2 saw year-over-year revenue growth of 57.4%, which was entirely organic, and Adjusted EBITDA margins of 24.5%. I want to thank all of our teammates. This would not be possible without their tireless efforts. We welcome our public shareholders as we build on this momentum and continue to support the most innovative technology companies to protect and grow their brands.” Second Quarter 2021 Financial Highlights Revenues were $180.0 million, representing 57.4% year-over-year organic growth compared to the second quarter of 2020.GAAP net loss was $105.9 million, representing a margin of -58.9%, and includes an expense of $129.4 million related to a one-time payout of phantom shares bonuses linked to the June initial public offering and $6.8 million of other IPO related costs. GAAP net income in the second quarter of 2020 was $8.0 million, representing a margin of 7.0%.Adjusted EBITDA was $44.1 million, representing an Adjusted EBITDA margin of 24.5%, compared to Adjusted EBITDA of $26.4 million and an Adjusted EBITDA margin of 23.1% in the second quarter of 2020.Non GAAP Adjusted Net Income was $31.4 million representing a Non GAAP Adjusted Net Income Margin of 17.4% compared to $17.0 mil...