Business
TaskUs Announces Fiscal Third Quarter 2021 Results
Third quarter total revenues of $201.1 million, representing 64.2% of year-over-year growth, which was entirely organic.GAAP net income margin of 5.8%,
About this update from Taskus, Inc.
[{"type":"text","content":"Third quarter total revenues of $201.1 million, representing 64.2% of year-over-year growth, which was entirely organic.GAAP net income margin of 5.8%, including non-cash stock-based compensation expense of $19.2 million.Adjusted EBITDA margin of 23.9%, non-GAAP adjusted net income margin of 16.3%.Full year 2021 outlook for revenues between $747 and $751 million, representing growth of approximately 56.7% at the midpoint, and Adjusted EBITDA margins of between 24.0% and 24.2%. NEW BRAUNFELS, Texas, Nov. 10, 2021 (GLOBE NEWSWIRE) -- TaskUs, Inc. (Nasdaq: TASK), a leading outsourcing provider for high growth companies, today announced its results for the third quarter of 2021, ended September 30, 2021. “We had a tremendous quarter in signings, revenue, profit, client retention and employee satisfaction,” said Co-Founder and CEO, Bryce Maddock.“ In the third quarter of 2021, we saw year-over-year revenue growth of over 64%, which was entirely organic, and Adjusted EBITDA margins of almost 24%. These results are all thanks to the hard work of our teammates throughout the globe. We hired approximately 4,100 net new TaskUs teammates this quarter with a fill rate of approximately 99% - evidence that our investment in building the best employee experience in our industry continues to pay off. Third Quarter 2021 Financial Highlights Revenues were $201.1 million, representing 64.2% year-over-year organic growth compared to the third quarter of 2020.GAAP net income was $11.6 million, representing a margin of 5.8%, compared with GAAP net income in the third quarter of 2020 of $11.5 million, representing a margin of 9.4%. The third quarter of 2021 included non-cash stock-based compensation expense of $19.2 million.Adjusted EBITDA was $48.1 million, representing an Adjusted EBITDA margin of 23.9%, compared to Adjusted EBITDA of $30.1 million and an Adjusted EBITDA margin of 24.6% in the third quarter of 2020.Non-GAAP Adjusted Net Income was $32.8 million representing a non-GAAP Adjusted Net Income Margin of 16.3% compared to $22.2 million and 18.1% in the third quarter of 2020.GAAP diluted earnings per share was $0.11 compared to $0.12 in the period a year ago.Non-GAAP Adjusted EPS was $0.30 compared to $0.24 in the period a year ago. Third Quarter 2021 Frontline Highlights Ended the quarter with 35,600 teammates (approximately 90% working fr...