Q3 2024 Taskus Inc Earnings Call Transcript
Key Points
- TaskUs Inc (TASK) achieved record quarterly revenue of $255.3 million, surpassing their guidance by $9.3 million.
- The company returned to double-digit revenue growth of 13.2% year-over-year, driven by strategic growth levers.
- TaskUs Inc (TASK) increased their full-year revenue guidance by $24 million at the midpoint, expecting $988 million to $990 million for the year.
- Strong performance in trust and safety and AI services, with trust and safety growing by 30.8% year-over-year.
- The company continues to see robust global demand, with significant growth in Latin America and Europe, and a strong client base expansion.
- Adjusted EBITDA margin was slightly below guidance at 21.2%, impacted by additional investments in operations and facilities.
- The company faces pricing pressures from larger competitors, affecting their cost structure.
- Revenue from US delivery declined by 4% year-over-year, indicating challenges in the domestic market.
- Increased costs due to wage and benefits inflation, competitive pricing pressures, and higher recruiting and facilities expenses.
- TaskUs Inc (TASK) anticipates lower adjusted free cash flow conversion due to increased capital expenditures and working capital buildup.
Good afternoon, and welcome to the Taskus fiscal third quarter 2024 conference call. My name is Michelle, and I will be your conference facilitator today. At this time, all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period.
(Operator Instructions) I would like now to introduce Trent Thrash, senior vice president of corporate development and investor relations. Trent, you may begin.
Good afternoon, and thank you for joining us for Taskus' third quarter 2024 earnings call. Joining me on today's call are Bryce Maddock, our co-founder and chief executive officer; and Balaji Sekar, our chief financial officer. Full details of our results and additional management commentary are available in our earnings release, which can be found on the investor relations section of our website at ir.Taskus.com. We have also posted supplemental information on our website, including an investor
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