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Jun 30, 2024
TaskUs Q2 2024 Earnings Report
Announced fiscal second quarter 2024 results, demonstrating revenue growth and strategic investments.
Key Takeaways
TaskUs reported a return to year-over-year revenue growth with a nearly 4% increase in Q2 2024, driven by investments in sales and marketing. The company's Q2 bookings were the highest since 2022, leading to an upward revision of the annual revenue guidance to $955 to $975 million. TaskUs ended the quarter with 51,700 teammates, adding 2,100 since Q1.
Delivered 3.8% year-over-year revenue growth, exceeding guidance.
Revised revenue guidance upward, now anticipating full-year revenue growth of 3.3% to 5.5%.
Maintained strong sales momentum with the highest quarterly bookings since 2022.
Added 2,100 teammates since the first quarter, ending the second quarter with 51,700 teammates.
Forward Guidance
TaskUs anticipates revenue between $244 and $246 million for Q3 2024 and between $955 and $975 million for the full year. The Adjusted EBITDA margin is expected to be approximately 21.5% for Q3 and around 22% for the full year. Free cash flow for the full year is projected to be approximately $120 million, excluding payments for litigation costs.
Positive Outlook
- Revenue for Q3 2024 is expected to be between $244 and $246 million.
- Full year revenue is projected to be between $955 and $975 million.
- Revenue change (YoY) at midpoint is expected to be 8.6% for Q3.
- Full year revenue change (YoY) at midpoint is projected at 4.4%.
- Adjusted EBITDA Margin is anticipated to be approximately 21.5% for Q3 and ~22% for the full year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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