TaskUs, Inc. - TASK STOCK NEWS

TaskUs (NASDAQ: TASK) has signed a Memorandum of Understanding with the Government of Tamil Nadu to establish a Technology Center of Excellence in Chennai. This center will initially create 150 jobs, contributing to the local economy. The Tamil Nadu government has promised infrastructural and regulatory support for the project. TaskUs has been expanding in India since its entry in 2019, now employing around 6,000 people across three locations. The company emphasizes its commitment to enhancing workplace culture and job opportunities in the region.

TaskUs, Inc. (NASDAQ: TASK) has been recognized as a Major Contender in Everest Group’s PEAK Matrix® for Trust and Safety – Content Moderation Provider 2022. The firm excels in well-being management offerings and invests in research, notably through its TaskVerse platform. TaskUs has developed robust policies to combat malicious content online and provides wellness advisory services to clients. This recognition underscores TaskUs’ commitment to enhancing its specialized services in content moderation, reflecting positively on its market position.

TaskUs, a leading provider of outsourced digital services, announced its participation in several upcoming investor conferences. Key events include the J.P. Morgan Global Technology, Media and Communications Conference on May 24, Baird 2022 Global Consumer, Technology & Services Conference on June 6, William Blair & Company 42nd Annual Growth Stock Conference on June 7, and Bank of America Securities 2022 Global Technology Conference on June 8. Presentations will be accessible via live audio webcast on the TaskUs investor relations website.

TaskUs, Inc. (Nasdaq: TASK) reported first quarter 2022 revenues of $239.7 million, reflecting a robust 56.8% year-over-year growth, all organic. However, GAAP net income decreased by 29.8% to $11.6 million, resulting in a net income margin of 4.8%. The company anticipates full-year revenues between $980 million and $1,000 million, projecting a 30% growth at the midpoint. Despite challenges, TaskUs continues to expand, having added 5,700 new teammates in Q1 and completed the acquisition of heloo for geographic expansion.

TaskUs, Inc (Nasdaq: TASK) will release its first quarter 2022 financial results on May 9, 2022, after market close. A conference call and webcast will follow at 5:00 p.m. ET to discuss the results. Interested parties can access the call by dialing toll-free at 877-407-2988 or through the live webcast available on TaskUs' investor relations website. As of December 31, 2021, TaskUs employed approximately 40,100 staff across 23 locations in 10 countries, serving high-growth sectors like e-commerce and social media.

TaskUs has acquired heloo, a Croatian company specializing in digital customer experience solutions for tech firms, boosting its European presence. Founded in 2017, heloo supports 20 languages and has shown consistent double-digit revenue growth. The acquisition diversifies TaskUs' client base, particularly in e-commerce and gaming, and enhances its language capabilities, especially in German. Key personnel, including co-founders Domagoj Makar and Tomislav Plesa, will continue to lead heloo. CEO Bryce Maddock emphasized the acquisition's role in global expansion and client value creation.

TaskUs, Inc. (NASDAQ: TASK) announced the opening of new locations in Fukuoka, Japan and Shreveport, Louisiana. The Shreveport hub has begun hiring for hundreds of roles, while the Fukuoka office is set to commence operations in the first half of 2022. This expansion aligns with the growing demand from technology clients for localized services. As of December 31, 2021, TaskUs had a workforce of 40,100 employees across 23 locations in 10 countries, demonstrating its continued growth since its inception in 2008.

TaskUs announced the appointment of Michelle Gonzalez and Jill A. Greenthal as independent directors, effective April 1, 2022, expanding the Board to nine members. Gonzalez, currently at Microsoft's M12, and Greenthal, a senior advisor at Blackstone, bring extensive financial and operational expertise. Their involvement is expected to bolster TaskUs's growth and enhance its service capabilities for high-growth technology companies. CEO Bryce Maddock expressed enthusiasm for their contributions as the company advances in 2022 and beyond.