Taskus, Inc. - TASK STOCK NEWS

TaskUs (TASK) has announced the launch of its Agentic AI Consulting practice, aimed at helping businesses integrate AI-powered automation into customer support and business processes. The company will partner with leading agentic AI companies to accelerate AI adoption.

The new practice will focus on providing customized AI strategies, deployment roadmaps, platform configuration, AI agent testing, and ongoing support. Led by Joe Anderson, the practice will leverage TaskUs' expertise in workflow optimization and human-AI interaction to help clients implement AI solutions across various operations, from simple account profile updates to complex returns processing.

TaskUs is creating a new revenue stream through reselling, implementing, and maintaining AI agents, while continuing to provide specialized services in areas like Trust and Safety, Financial Crimes and Compliance, and complex customer experience solutions that may not be suitable for complete automation.

TaskUs (TASK) reported strong Q4 2024 results with total revenue of $274.2 million, marking a 17.1% year-over-year growth and exceeding guidance by $4.9 million. The company achieved a net income of $8.9 million with a 3.2% margin and Adjusted EBITDA of $53.8 million with a 19.6% margin.

Full-year 2024 performance reached $995 million in revenue with Adjusted EBITDA of $209.9 million at a 21.1% margin. The company ended 2024 with approximately 200 clients, over half generating $1+ million in revenue, and expanded its workforce to 59,000 teammates.

Looking ahead to 2025, TaskUs projects revenue between $1.095-1.125 billion with an expected Adjusted EBITDA margin of approximately 21%, building on momentum across all service lines.

TaskUs (TASK) has announced it will release its fourth-quarter and full-year 2024 financial results after market close on February 26, 2025. The company, a provider of outsourced digital services and next-generation customer experience, will accompany the earnings release with supplemental data available on their Investor Relations website.

Management will host a conference call and webcast at 5:00 p.m. ET to discuss business performance, financial results, and provide outlook for 2025. Analysts can pre-register to participate in the call, while investors can access the view-only webcast through the TaskUs Investor Relations site. A replay of the conference call will be available for 12 months following the presentation.

TaskUs (NASDAQ: TASK) has been recognized as a Major Contender in Everest Group's Sales Services PEAK Matrix® Assessment 2024. The assessment highlights TaskUs's strengths in sales services, including lead generation, e-commerce support, and cross-sell capabilities.

The company's recognition is based on its market impact and vision, particularly noting its P4 Framework that combines People, Process, Platforms, and Performance. TaskUs has developed proprietary technologies including TaskGPT, a generative AI platform, and TaskMate for real-time consultative support. The company also implements LevelUp, a gamification solution for cross-selling, and maintains a dedicated Sales Academy for agent training.

This recognition adds to TaskUs's recent achievements, having also been named a Leader in Trust and Safety Services, Data Annotation and Labeling, and FCC Operations in other Everest Group PEAK Matrix® Assessments for 2024.

TaskUs (TASK) and Red Points announced a strategic partnership combining their expertise in Financial Crime, Compliance, and Trust & Safety with AI brand protection technology. The partnership aims to combat digital fraud and IP violations, which cause estimated annual losses of $2 trillion. Their end-to-end digital protection system combines AI with human oversight to defend against counterfeits, brand impersonations, and fake accounts.

The solution leverages TaskUs' AI+Human-in-the-loop framework and Red Points' detection technology, creating an adaptive feedback loop for fraud prevention. The system has already helped detect IP infringements putting over $500m in potential revenue at risk.

TaskUs announced its Q3 2024 results, reporting total revenues of $255.3 million, a 13.2% increase year-over-year, 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 Net Income reached $34.3 million, with a margin of 13.4%. Diluted EPS was $0.14, and Adjusted EPS was $0.37. Adjusted EBITDA totaled $54.2 million, with a margin of 21.2%, surpassing midpoint guidance by $1.5 million. Net cash from operating activities was $17.0 million, with Free Cash Flow of $6.3 million. The company updated its full-year revenue guidance to $988-$990 million and expects Q4 revenue between $267.3-$269.3 million. Adjusted EBITDA for the full year is anticipated to be around $213 million. TaskUs added 3,100 teammates, ending Q3 with 54,800 employees. The company experienced strong demand, particularly in Latin America and Europe, and expects continued growth in Q4.

TaskUs, Inc. (Nasdaq: TASK), a leading provider of outsourced digital services and next-generation customer experience, will announce its third quarter 2024 financial results on November 7, 2024, after the market closes. The company will release supplemental data in the Investor Relations section of its website simultaneously with the earnings release.

Management will host a conference call and webcast at 5:00 p.m. ET to discuss the company's business and financial results. Analysts wishing to participate should pre-register to obtain dial-in information. A live webcast view-only access will be available through the TaskUs Investor Relations site. An archive of the conference call will be accessible from the company's Investor Relations website for 12 months following the live presentation.

TaskUs presents an Everest Group report revealing significant investments in technology to streamline customer experience (CX). Over 75% of enterprises are deploying or planning to deploy generative AI (Gen AI) in operations and customer services. Gen AI pilots aim to enhance agent-assist capabilities, improve content creation, and analyze customer feedback. The report highlights how Gen AI is reshaping roles, with 75% of enterprise leaders believing it will create new positions while slightly reducing traditional ones.

Despite its potential, Gen AI faces challenges such as lack of skilled personnel (32%), data quality issues (26%), and ethical concerns (21%). Satisfaction with Gen AI varies globally, with higher rates in EMEA and the Americas. The report suggests that enterprises can benefit from partnering with companies offering Gen AI-driven CX solutions, as over 50% prioritize partners with relevant expertise and flexible technology options.

TaskUs (Nasdaq: TASK) announced its fiscal Q2 2024 results with total revenues of $237.9 million, marking a 3.8% year-over-year growth. The company reported a GAAP net income of $12.6 million and a GAAP diluted EPS of $0.14. Non-GAAP Adjusted Net Income stood at $28.6 million with an Adjusted EBITDA of $51.3 million.

Key highlights include a net cash provided by operating activities of $30 million and a free cash flow of $25.5 million. The company has revised its annual revenue guidance upwards and now expects revenue to range between $955 million and $975 million for FY 2024. TaskUs also repurchased 1.0 million shares this quarter.

Revenue from all three service lines showed sequential growth, and the company's highest quarterly bookings since 2022 are reported. The company ended the quarter with 51,700 teammates, up by 2,100 from the previous quarter.