TaskUs, Inc. reported significant financial growth in its latest quarterly results, with service revenue reaching $277.8 million for the three months ended March 31, 2025, marking a 22.1% increase from $227.5 million in the same period last year. The company's net income also saw a substantial rise, climbing to $21.1 million, up 80.5% from $11.7 million in the prior year. This growth was attributed to increased revenue across its service offerings, particularly in Trust + Safety and AI Services, which grew by 31% and 58.6%, respectively. Adjusted EBITDA for the quarter was reported at $59.3 million, a 17.1% increase from $50.6 million in the previous year.
In terms of operational metrics, TaskUs experienced a notable increase in its customer base, with the top ten clients contributing 57% of total service revenue, up from 56% in the prior year. The company also reported a rise in employee headcount, which contributed to higher personnel costs, reflecting its strategy to expand service capabilities. The Philippines remained a key operational hub, generating $151.7 million in revenue, while the United States and India contributed $33.2 million and $35.4 million, respectively.
The company’s balance sheet showed total assets of $985.5 million as of March 31, 2025, compared to $953.3 million at the end of 2024. Cash and cash equivalents increased to $196.9 million, providing a solid liquidity position. TaskUs also reported a total debt of $252.9 million, with compliance to all debt covenants. The company has been actively repurchasing shares, with $10.1 million spent on buybacks during the quarter, reflecting its commitment to returning value to shareholders.
Looking ahead, TaskUs has entered into a definitive agreement to be acquired by an affiliate of Blackstone, with the transaction expected to close in the second half of 2025. The acquisition will see shareholders receive $16.50 per share in cash, and the company anticipates that this move will enhance its operational capabilities and market position. TaskUs remains focused on leveraging its strengths in digital customer experience, Trust + Safety, and AI services to drive future growth, despite potential challenges from market conditions and competition.
About TaskUs, Inc.
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