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TaskUs Inc. (TASK+2.95%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a revenue increase of 7.6% to $995.0 million from $924.4 million in the previous year, attributed to new client wins and expanded service offerings.
Cost of services rose to $602.9 million, an 11.9% increase from $538.7 million, due to higher personnel costs and site expansions.
Selling, general, and administrative expenses increased by 4.8% to $239.6 million, primarily due to litigation costs.
Net income was $45.9 million, slightly up from $45.7 million in the prior year, with Adjusted EBITDA decreasing by 5.0% to $209.9 million.
TaskUs supported approximately 200 clients, with its top client, Meta, contributing 22% of the revenue.
The company highlighted its focus on expanding geographically, increasing headcount outside the U.S., the Philippines, and India.
TaskUs reported a working capital of $435.4 million as of December 31, 2024, with cash and cash equivalents totaling $192.2 million.
The filing details a credit agreement with a $270.0 million term loan and a $190.0 million revolving credit facility, with $256.2 million in total indebtedness.
TaskUs does not anticipate cash dividend payments to common stockholders in the near future.
The company identified risks related to foreign currency fluctuations, with a majority of expenses incurred in non-U.S. currencies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TaskUs Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.