NASDAQ$TASK
TaskUs Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Announced results for the third quarter ended September 30, 2023.
TaskUs reported strong third-quarter performance, exceeding guidance with revenue of $225.6 million. The company's results were driven by new client signings and stronger-than-expected volumes from existing clients. GAAP net income was $9.8 million, with a GAAP diluted EPS of $0.10. The company repurchased 4.5 million shares and ended the quarter with 47,000 teammates.
- Total revenues for the third quarter were $225.6 million.
- GAAP net income reached $9.8 million, resulting in a net income margin of 4.3%.
- Non-GAAP Adjusted EPS was reported at $0.32.
- The company repurchased 4.5 million shares during the quarter.
Headline financials
Revenue & EPS history
TaskUs · Revenue · Quarterly
$226M
Forward guidance
For the fourth quarter of 2023, TaskUs expects revenue between $225 million and $227 million, and an adjusted EBITDA margin of approximately 22.5%. For the full year 2023, revenue is expected to be between $915 million and $917 million, with an adjusted EBITDA margin of approximately 23.3%. Free cash flow (excluding payment for earn-out consideration) is expected to be $115 million or greater.
Tailwinds
- Revenue (in millions): $225 to $227 (Fourth Quarter)
- Revenue (in millions): $915 to $917 (Full Year)
- Adjusted EBITDA Margin: ~22.5% (Fourth Quarter)
- Adjusted EBITDA Margin: ~23.3% (Full Year)
- Free Cash Flow (excluding payment for earn-out consideration) (in millions): $115+ (Full Year)
Headwinds
- Revenue change (YoY) at midpoint: (6.7)% (Fourth Quarter)
- Revenue change (YoY) at midpoint: (4.6)% (Full Year)
- The non-GAAP adjustment for stock-based compensation expense requires additional inputs such as number of shares granted and market price that are not currently ascertainable
- the non-GAAP adjustment for foreign currency gains or losses depends on the timing and magnitude of changes in foreign currency exchange rates and cannot be accurately forecasted.
- The Company is unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on its future GAAP financial results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+3.2%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.9%
Avg return
30 days after
65%
15 / 23 earnings
Positive
+29.1%
Q3 2022
Best reaction
-22.7%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.5% | -8.3% | -10.3% | |
| Q4 2025 | +0.0% | +2.7% | -39.2% | |
| Q3 2025 | +4.6% | -5.3% | -1.0% | |
| Q1 2025 | +0.3% | -0.8% | -1.0% | |
| Q4 2024 | -7.6% | -13.4% | -12.4% | |
| Q3 2024 | +28.8% | -0.1% | +3.5% | |
| Q2 2024 | +2.3% | -11.3% | -19.5% | |
| Q1 2024 | +5.4% | +12.2% | +13.2% | |
| Q4 2023 | +5.7% | +4.0% | -7.6% | |
| Q3 2023 | +19.7% | +25.2% | +20.3% | |
| Q2 2023 | -17.1% | -13.6% | -21.9% | |
| Q1 2023 | +0.6% | -6.8% | +0.1% | |
| Q4 2022 | -17.0% | -11.9% | -29.5% | |
| Q3 2022 | +29.1% | +31.3% | +12.7% | |
| Q2 2022 | -22.7% | -29.4% | -27.7% | |
| Q1 2021 | -18.4% | -3.1% | -10.5% | |
| Q1 2022 | -22.5% | -12.1% | -10.1% | |
| Q4 2019 | +5.6% | -3.4% | +9.8% | |
| Q4 2021 | +19.7% | +10.3% | +39.9% | |
| Q3 2020 | -0.1% | -7.6% | -33.8% | |
| Q3 2021 | +4.5% | +4.4% | -30.8% | |
| Q4 2020 | +20.7% | +22.4% | +111.2% | |
| Q2 2021 | +27.1% | +29.1% | +112.4% |
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