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Mar 31, 2023
TaskUs Q1 2023 Earnings Report
Reported first quarter results, outperforming guidance with clients leveraging offshore delivery model.
Key Takeaways
TaskUs, Inc. announced its Q1 2023 results, showing a total revenue of $235.3 million. The company's GAAP net income was $9.5 million, with a margin of 4.0%. Non-GAAP Adjusted Net Income reached $32.5 million, with a margin of 13.8%. The company updated its full-year outlook due to continued volatility in the macro environment.
First quarter total revenues reached $235.3 million.
GAAP net income was $9.5 million, representing a 4.0% margin.
Non-GAAP Adjusted Net Income amounted to $32.5 million, with a 13.8% margin.
GAAP diluted earnings per share stood at $0.09, while non-GAAP Adjusted EPS was $0.32.
Forward Guidance
For the second quarter of 2023, TaskUs expects revenue between $226 million and $228 million, with an adjusted EBITDA margin of 23.0%. For the full year 2023, revenue is expected to be between $925 million and $950 million, with an adjusted EBITDA margin of 23.5% and free cash flow exceeding $100 million.
Positive Outlook
- Revenue (in millions): $226 to $228 (Second Quarter), $925 to $950 (Full Year)
- Revenue change (YoY) at midpoint: (7.9)% (Second Quarter), (2.4)% (Full Year)
- Adjusted EBITDA Margin: 23.0% (Second Quarter), 23.5% (Full Year)
- Free Cash Flow (excluding heloo earn-out payment) (in millions): N/A (Second Quarter), $100+ (Full Year)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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