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Mar 31, 2024
TaskUs Q1 2024 Earnings Report
Outperformed revenue and Adjusted EBITDA guidance, saw momentum with largest clients, and strong new client sales.
Key Takeaways
TaskUs, Inc. announced its Q1 2024 results with total revenues of $227.5 million. The company reported a GAAP net income of $11.7 million, resulting in a GAAP diluted EPS of $0.13. TaskUs is increasing the lower end of its full-year revenue guidance by $25 million, now expecting revenues between $925 million and $950 million for 2024.
Total revenues reached $227.5 million.
GAAP net income was $11.7 million, with a net income margin of 5.1%.
Non-GAAP Adjusted Net Income was $27.3 million, with a margin of 12.0%.
Adjusted EBITDA stood at $50.6 million, representing a margin of 22.2%.
Forward Guidance
For the second quarter of 2024, TaskUs expects revenues between $230 million and $232 million, with an Adjusted EBITDA margin between 22.0% and 22.5%. For the full year 2024, the company anticipates revenues between $925 million and $950 million and Free Cash Flow between $120 million and $130 million, with Adjusted EBITDA margin between 22% and 23%.
Positive Outlook
- Revenue (in millions): $230 to $232 (Second Quarter)
- Revenue (in millions): $925 to $950 (Full Year)
- Revenue change (YoY) at midpoint: 0.8% (Second Quarter)
- Revenue change (YoY) at midpoint: 1.4% (Full Year)
- Adjusted EBITDA Margin: 22.0% to 22.5% (Second Quarter)
- Adjusted EBITDA Margin: 22% to 23% (Full Year)
- Free Cash Flow (in millions): $120 to $130 (Full Year)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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