Business
TaskUs Announces Fiscal Second Quarter 2024 Results
NEW BRAUNFELS, Texas--(BUSINESS WIRE)-- TaskUs, Inc. (Nasdaq: TASK), a leading provider of outsourced digital services and next-generation customer
About this update from Taskus, Inc.
[{"type":"text","content":" NEW BRAUNFELS, Texas--(BUSINESS WIRE)--\nTaskUs, 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 second quarter ended June 30, 2024.\n\n\n\nTotal revenues of $237.9 million.\n\n\n\nGAAP net income of $12.6 million, GAAP net income margin of 5.3%.\n\n\n\nNon-GAAP Adjusted Net Income of $28.6 million, non-GAAP Adjusted Net Income margin of 12.0%.\n\n\n\nGAAP diluted EPS of $0.14, non-GAAP Adjusted EPS of $0.31.\n\n\n\nAdjusted EBITDA of $51.3 million, Adjusted EBITDA margin of 21.5%.\n\n\n\nNet cash provided by operating activities of $30.0 million, Free Cash Flow of $25.5 million and 49.8% conversion of Adjusted EBITDA to Free Cash Flow.\n\n\n\n\"Thanks to our team's tireless efforts over the past 18 months, we have returned to year-over-year revenue growth, delivering nearly 4% growth in the second quarter,” said Co-Founder and CEO, Bryce Maddock. “Our investments in sales and marketing are yielding results, with Q2 marking our best bookings quarter since 2022. We are confident that our growth rate will continue to accelerate in Q3 and Q4. Consequently, we are raising both the bottom and top ends of our annual revenue guidance and now expect revenue of $955 to $975 million for the year.\"\n\n\nSecond Quarter 2024 Financial and Frontline Highlights\n\n\n\n\n($ in thousands, except per share amounts)\n\n\n\n\n\n\nThree months ended\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nSix months ended\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n\n\nService revenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n237,928\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n229,169\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n3.8\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n465,398\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n464,475\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n0.2\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nGAAP net income\n\n\n\n\n\n...