TaskUs Shares Slide Post Q2 Results On Weak Guidance, Beats Estimates - TaskUs (NASDAQ:TASK)

TaskUs Inc TASK reported second-quarter revenue growth of 36.9% year-over-year to $246.5 million, beating the consensus of $242.11 million.
Adjusted EPS was $0.37, beating the consensus of $0.33.
The adjusted net income margin was 15.7%, down from 17.4% in 2Q21.
Adjusted EBITDA increased by 26.2% Y/Y to $55.67 million, and the margin was 22.6%, down from 24.5% in 2Q21.
TaskUs net cash provided by operating activities year-to-date was $72.97 million, compared to $45.68 million a year ago. Free cash flow was $43.61 million and 44.0% conversion of Adjusted EBITDA.
TASK held cash and cash equivalents of $104.73 million as of June 30, 2022.
“Our growth in the second quarter was driven by the continued expansion with our existing clients and new client engagements across our service lines. In the current macro environment, our differentiated global footprint and automation capabilities position us well to continue to win competitive deals and grow faster than the market in both 2022 and beyond,” commented Co-Founder and CEO Bryce Maddock.
3Q22 Outlook: TaskUs expects revenue of $224 million to $226 million vs. a consensus of $244.46 million and an Adjusted EBITDA Margin of 22%.
FY22 Outlook: The company expects revenue of $930 million to $950 million vs. a consensus of $992.41 million and an Adjusted EBITDA margin of 22.3%.
It sees a Free cash flow of ~$100 million for FY22.
Price Action: TASK shares are trading lower by 16.8% at $19.50 during the post-market session on Monday.

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