TaskUs Inc. · Q3 2024 earnings

Briefing

Reported the highest quarterly revenue and returned to double-digit year-over-year revenue growth.

TaskUs announced its Q3 2024 results, exceeding expectations with a record quarterly revenue of $255.3 million, representing a 13.2% year-over-year growth. The company's strategic investments and operational discipline drove positive results, leading to an increase in full-year guidance. Adjusted EBITDA exceeded midpoint guidance by $1.5 million.

• Total revenues reached $255.3 million, a 13.2% year-over-year increase, exceeding the top-end of guidance by $9.3 million.
• Net income was $12.7 million, with a net income margin of 5.0%.
• Adjusted EBITDA stood at $54.2 million, with an Adjusted EBITDA margin of 21.2%, exceeding midpoint guidance by $1.5 million.
• The company added 3,100 teammates since the second quarter, reaching a total of 54,800 teammates by the end of Q3 2024.

Headline financials

Revenue & EPS history

TaskUs expects full-year 2024 revenues to range from $988 million to $990 million and to deliver approximately $213 million in Adjusted EBITDA and $110 million Adjusted Free Cash Flow at the midpoint of guidance. For the fourth quarter, the company anticipates revenues between $267.3 million and $269.3 million, with a year-over-year revenue change of 14.5% at the midpoint, and an Adjusted EBITDA Margin of approximately 21.1%.