FALSE000182986400018298642026-02-202026-02-20
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________
FORM 8-K
__________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 20, 2026
__________________________
TaskUs, Inc.
(Exact Name of Registrant as Specified in its Charter)
__________________________
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| Delaware | 001-40482 | 83-1586636 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
1650 Independence Drive, Suite 100
New Braunfels, Texas 78132
(Address of Principal Executive Offices) (Zip Code)
(888) 400-8275
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
__________________________
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Class A Common Stock, par value $0.01 per share | | TASK | | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On February 25, 2026, TaskUs, Inc. (the “Company”) issued a press release announcing earnings for the quarter and year ended December 31, 2025. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein in its entirety.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filings made by the Company under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 20, 2026, Balaji Sekar, the Company’s Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) informed the Company of his intention to step down from such positions to pursue a role at a private company, effective as of March 31, 2026. Mr. Sekar’s resignation was not due to any disagreement with the Company, its management, or the Company’s Board of Directors (the “Board”) on any matter relating to the Company’s operations, policies or practices. Mr. Sekar has agreed to serve as an advisor to the Company for six months subsequent to March 31, 2026.
In connection with Mr. Sekar’s resignation, on February 25, 2026, the Board appointed (i) Trent Thrash, the Company’s Senior Vice President of Corporate Development and Investor Relations, as Interim Chief Financial Officer (Principal Financial Officer) and (ii) Garrett Gold, the Company’s Vice President of Accounting and Financial Reporting, as Principal Accounting Officer, each effective on March 31, 2026 (such transition, the “CFO Transition”). The Company has initiated a comprehensive search process for a permanent Chief Financial Officer.
Trent Thrash, age 51, has served as the Company’s Senior Vice President of Corporate Development since September 2021. In addition to his Corporate Development role, Mr. Thrash has led the Company’s Investor Relations, Treasury, and Tax functions since October 2023, January 2025 and February 2025, respectively. Prior to joining the Company, Mr. Thrash served as Head of Corporate Development at Stack Sports from November 2017 to September 2021. Mr. Thrash is an alumnus of The University of Texas at Austin, where he received Bachelor of Business Administration and Master in Professional Accounting degrees in 1999. Mr. Thrash is a licensed Certified Public Accountant with the Texas State Board of Public Accountancy.
Garrett Gold, age 37, joined the Company in July 2021 and has more than 12 years of public company accounting and Securities and Exchange Commission (“SEC”) reporting experience across a range of industries. Prior to joining the Company, Mr. Gold served as a Manager of SEC reporting at Rackspace Technology, Inc. Mr. Gold received a Bachelor of Business Administration and a Master of Accountancy from The University of Texas at San Antonio. Mr. Gold is a Certified Public Accountant and a Certified Management Accountant.
Each of Mr. Thrash and Mr. Gold was not appointed pursuant to any arrangement or understanding with any other person, has no family relationships with any director or executive officer of the Company, and there are no transactions involving either Mr. Thrash or Mr. Gold that would be required to be reported under Item 404(a) of Regulation S-K.
In connection with the CFO Transition, effective as of March 31, 2026, (i) Mr. Sekar will receive a separation payment in the amount of $50,000 pursuant to the Company’s standard separation agreement and will enter into an advisor agreement for a six-month term with a $150,000 retainer pursuant to the Company’s customary terms for advisors and (ii) Mr. Gold’s base salary will increase to $298,342 and his target bonus will increase to $119,337.
In connection with the CFO Transition, the Company will enter into an indemnification agreement with each of Mr. Thrash and Mr. Gold in substantially the same form of agreement that the Company has entered into with its directors and executive officers.
Item 7.01 Regulation FD Disclosure.
On February 25, 2026, the Company issued a press release, relating to the CFO Transition. A copy of the press release is furnished herewith as Exhibit 99.2 and is incorporated by reference herein in its entirety.
On February 25, 2026, the Company also issued a press release, relating to the Special Dividend (as defined below). A copy of the press release is furnished herewith as Exhibit 99.3 and is incorporated by reference herein in its entirety.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filings made by the Company under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01 Other Events.
On February 25, 2026, the Board authorized and declared a special cash dividend of $3.65 per share, payable on March 25, 2026, to stockholders of record as of March 11, 2026 (the “Special Dividend”). The Special Dividend has an estimated payout of approximately $333 million in the aggregate and will be funded by proceeds of the New Credit Facilities (as defined below) and cash on the Company’s balance sheet.
To finance the Special Dividend and address its upcoming 2027 debt maturities, the Company has secured commitments for a comprehensive refinancing of its existing credit facilities, which refinancing includes a $500 million term loan facility and $100 million revolving credit facility (together, the “New Credit Facilities”), each maturing in March 2031. Borrowings under the New Credit Facilities will bear interest, at the Company’s option, at a rate equal to Term SOFR (with a floor of 0%) plus 2.75%, or an alternate base rate (with a floor of 1.0%) plus 1.75%.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| | | | | | | | |
| Exhibit No. | | Description |
| 99.1 | | Press release of TaskUs, Inc., dated February 25, 2026 (earnings) |
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| 99.2 | | Press release of TaskUs, Inc., dated February 25, 2026 (CFO transition) |
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| 99.3 | | Press release of TaskUs, Inc., dated February 25, 2026 (Special Dividend) |
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| 104 | | Cover Page Interactive Data File (formatted as Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| TASKUS, INC. |
| | |
| By: | /s/ Balaji Sekar |
| | Name: Balaji Sekar |
| | Title: Chief Financial Officer |
| | |
Date: February 25, 2025 | | |
Exhibit 99.1
TaskUs Announces Fiscal Fourth Quarter and Full Year 2025 Results
NEW BRAUNFELS, Texas, February 25, 2026 — TaskUs, Inc. (Nasdaq: TASK), a leading provider of outsourced digital services and next-generation customer experience to the world’s most innovative companies, today announced its results for the fourth quarter and full year ended December 31, 2025.
•Fourth quarter total revenue of $313.0 million, 14.1% year-over-year growth. Exceeding the top-end of our guidance by $8.6 million, or approximately 3%.
•Net Income of $29.7 million, Net Income margin of 9.5%.
•Adjusted Net Income of $37.1 million, Adjusted Net Income margin of 11.8%.
•Diluted EPS of $0.32, Adjusted EPS of $0.40.
•Adjusted EBITDA of $61.4 million, Adjusted EBITDA margin of 19.6%.
•Net cash provided by operating activities of $29.7 million, Free Cash Flow of $9.9 million and 16.2% conversion of Adjusted EBITDA to Free Cash Flow. Adjusted Free Cash Flow of $12.9 million and 21.0% conversion of Adjusted EBITDA to Adjusted Free Cash Flow.
“In the fourth quarter of 2025, we again set a record for the highest revenue quarter in TaskUs’ history and closed the year with strong double-digit revenue growth of 14% on a year-over-year basis. Our full-year revenue of $1.184 billion and $249.1 million in Adjusted EBITDA also set new company records,“ said Co-Founder and CEO, Bryce Maddock. “Heading into 2026, we are squarely focused on maintaining our leadership in specialized services, executing on the emerging growth opportunities we are seeing in generative AI, autonomous vehicles and robotics, and continuing to reshape TaskUs for the AI era.”
Fourth Quarter and Full Year 2025 Financial and Frontline Highlights
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| ($ in thousands, except per share amounts) | Three months ended December 31, | | | | Year ended December 31, | | |
| 2025 | | 2024 | | % Change | | 2025 | | 2024 | | % Change |
| Service revenue | $ | 312,956 | | | $ | 274,242 | | | 14.1 | % | | $ | 1,183,547 | | | $ | 994,985 | | | 19.0 | % |
| Net income | $ | 29,705 | | | $ | 8,859 | | | 235.3 | % | | $ | 102,275 | | | $ | 45,870 | | | 123.0 | % |
| Net income margin | 9.5 | % | | 3.2 | % | | | | 8.6 | % | | 4.6 | % | | |
| Adjusted Net Income | $ | 37,084 | | | $ | 28,500 | | | 30.1 | % | | $ | 151,709 | | | $ | 118,684 | | | 27.8 | % |
| Adjusted Net Income margin | 11.8 | % | | 10.4 | % | | | | 12.8 | % | | 11.9 | % | | |
| Diluted EPS | $ | 0.32 | | | $ | 0.10 | | | 220.0 | % | | $ | 1.10 | | | $ | 0.50 | | | 120.0 | % |
| Adjusted EPS | $ | 0.40 | | | $ | 0.31 | | | 29.0 | % | | $ | 1.63 | | | $ | 1.29 | | | 26.4 | % |
| Adjusted EBITDA | $ | 61,398 | | | $ | 53,795 | | | 14.1 | % | | $ | 249,074 | | | $ | 209,867 | | | 18.7 | % |
| Adjusted EBITDA margin | 19.6 | % | | 19.6 | % | | | | 21.0 | % | | 21.1 | % | | |
| Net cash provided by operating activities | $ | 29,666 | | | $ | 40,658 | | | (27.0) | % | | $ | 137,215 | | | $ | 138,888 | | | (1.2) | % |
| Free Cash Flow | $ | 9,919 | | | $ | 20,375 | | | (51.3) | % | | $ | 73,715 | | | $ | 99,784 | | | (26.1) | % |
| Conversion of Adjusted EBITDA to Free Cash Flow | 16.2 | % | | 37.9 | % | | | | 29.6 | % | | 47.5 | % | | |
| Adjusted Free Cash Flow | $ | 12,914 | | | $ | 25,137 | | | (48.6) | % | | $ | 89,857 | | | $ | 107,357 | | | (16.3) | % |
| Conversion of Adjusted EBITDA to Adjusted Free Cash Flow | 21.0 | % | | 46.7 | % | | | | 36.1 | % | | 51.2 | % | | |
•Delivered year-over-year growth across all three service lines in the fourth quarter, led by AI Services and Trust & Safety of 45.9% and 18.2%, respectively.
•Net revenue retention of 113% for the year ended December 31, 2025.
•Ended 2025 with approximately 200 clients, including 21 clients with revenue of at least $10 million, compared to 17 clients in 2024.
•Added 1,700 teammates since the third quarter, ending the year with 65,500 teammates.
•Named a Major Contender and Star Performer in Everest Group's B2B Sales Services PEAK Matrix® 2025 in January 2026.
•Named as a Major Contender and a Star Performer in Everest Group’s Customer Experience Management Services PEAK Matrix® Assessment 2025 for EMEA and a Major Contender in the Americas.
“In the fourth quarter of 2025, we generated total revenue of $313.0 million, driven by broad-based growth across all three Service Lines from both new and existing clients across a diverse range of industries,” said Chief Financial Officer, Balaji Sekar. “We are incredibly pleased that our operational and financial discipline resulted in strong top line annual revenue growth of 19%. For the full year 2025, we delivered $1.184 billion in revenue and $249.1 million in Adjusted EBITDA, achieving an Adjusted EBITDA margin of 21.0%. We ended the year with a strong year-end balance sheet, including $211.7 million in cash. Our results have positioned us well to continue executing on our AI transformation strategy throughout 2026.”
First Quarter and Full Year 2026 Outlook
For the first quarter and full year 2026 TaskUs expects its financial results to include:
| | | | | | | | | | | |
| 2026 Outlook |
| First Quarter | | Full Year |
Revenue (in millions) | $296.0 to $298.0 | | $1,210 to $1,240 |
Revenue growth (YoY) at midpoint | 6.9% | | 3.5% |
Adjusted EBITDA Margin1 | ~19% | | ~19% |
Adjusted Free Cash Flow (in millions)2 | N/A | | ~$100 |
1.With respect to the non-GAAP Adjusted EBITDA margin outlook provided above, a reconciliation to the closest GAAP financial measure has not been provided as the quantification of certain items included in the calculation of GAAP net income (loss) cannot be calculated or predicted at this time without unreasonable efforts. For example, the non-GAAP adjustment for stock-based compensation expense requires additional inputs such as number of shares granted and market price that are not currently ascertainable, the non-GAAP adjustment for foreign currency gains or losses depends on the timing and magnitude of changes in foreign currency exchange rates and cannot be accurately forecasted. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on its future GAAP financial results.
2.Adjusted Free Cash Flow is calculated as net cash provided by operating activities in the period minus cash used for purchase of property and equipment in the period, excluding certain non-recurring adjustments. At the mid-point of our guidance, net cash provided by operating activities for the full year 2026, excluding certain litigation-related payments, is expected to be approximately $160 million and purchase of property and equipment is expected to be approximately $60 million. Our Adjusted Free Cash Flow guidance and expected net cash provided by operating activities excludes the impact of certain costs, which are non-recurring and outside the ordinary course of business, due to the unpredictability of the costs and timing of payments.
Conference Call Information
TaskUs senior management will host a conference call today to discuss the Company’s fourth-quarter and full-year 2025 financial results and financial outlook. This call is scheduled to begin at 5:00 pm ET. Analysts and investors who wish to participate in the call can register by visiting the following link:
https://register-conf.media-server.com/register/BI712ee7d48215423cbf0498c62da88a67
To listen to a live audio webcast, please visit TaskUs’ Investor Relations website at IR.Taskus.com. A replay of the audio webcast will be available on the same website for 12 months following the call. At the time of the conference call and webcast, the Company will post a slide presentation and other materials available on its website.
About TaskUs
TaskUs (Nasdaq: TASK) delivers outsourced digital services that power the companies shaping the future. By combining specialized human talent and intelligent technology, we solve complex operational challenges for global category leaders within AI, autonomous vehicles (AV), robotics, social media, financial services, healthcare, and beyond. We enable our clients to elevate their customer experience, protect their platforms, and grow their brands. For more information, visit www.taskus.com.
Investor Contact
Trent Thrash
IR@TaskUs.com
Media Contact
Ramya Kumaraswamy
mediainquiries@taskus.com
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, and further include, without limitation, statements reflecting our current views with respect to, among other things, our operations, our financial performance, our industry, the impact of the macroeconomic environment on our business, and other non-historical statements including the statements in the “First Quarter and Full Year 2026 Outlook” section of this press release. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “would,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates,” “position us” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to: the dependence of our business on key clients; the risk of loss of business or non-payment from clients; our failure to cost-effectively acquire new clients; the risk that we may provide inadequate service or cause disruptions in our clients’ businesses or fail to comply with the quality standards required by our clients under our agreements; our inability to anticipate clients’ needs by adapting to market and technology trends; utilization of artificial intelligence by our clients or our failure to incorporate artificial intelligence into our operations; unauthorized or improper disclosure of personal or other sensitive information, or security breaches and incidents; negative publicity or liability or difficulty recruiting and retaining employees; our failure to detect and deter criminal or fraudulent activities or other misconduct by our employees or third parties; global economic and political conditions, especially in the social media and meal delivery and transport industries from which we generate significant revenue; the dependence of our business on our international operations, particularly in the Philippines and India; our failure to comply with applicable data privacy and security laws and regulations; fluctuations against the U.S. dollar in the local currencies in the countries in which we operate; our inability to maintain and enhance our brand; competitive pricing pressure; volatile, unfavorable or uncertain economic or political conditions, particularly in the markets in which our clients and operations are concentrated, and the effects of these conditions on our clients’ businesses; our dependence on senior management and key employees; increases in employee expenses and changes to labor laws; failure to attract, hire, train and retain a sufficient number of skilled employees to support operations; our inability to effectively expand our operations into countries or industries in which we have no prior operating experience and in which we may be subject to increased business, economic and regulatory risks; reliance on owned and third-party technology and computer systems; failure to maintain asset utilization levels, price appropriately and control costs; the control of affiliates of Blackstone Inc. and our Co-Founders over us; the dual class structure of our common stock; and the volatility of the market price of our Class A common stock. Additional risks and uncertainties include but are not limited to those described under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025, as such factors may be updated from time to time in our filings with the SEC, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which is expected to be filed no later than March 15, 2026, which are or will be accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company’s SEC filings. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. TaskUs undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
Non-GAAP Financial Measures
TaskUs supplements results reported in accordance with United States generally accepted accounting principles (“GAAP”), with non-GAAP financial measures, such as Adjusted Net Income, Adjusted Net Income Margin, Adjusted Earnings Per Share, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Adjusted Free Cash Flow, Conversion of Adjusted EBITDA to Free Cash Flow and Conversion of Adjusted EBITDA to Adjusted Free Cash Flow. Management believes these measures help illustrate underlying trends in TaskUs’ business and uses the measures to establish budgets and operational goals, communicate internally and externally, and manage TaskUs’ business and evaluate its performance. Management also believes that certain of these measures help investors compare TaskUs’ operating performance with its results in prior periods or assess liquidity. TaskUs anticipates that it will continue to report both GAAP and certain non-GAAP financial measures in its financial results, including non-GAAP results that exclude the impact of certain costs, losses and gains that are required to be included in our profit and loss measures under GAAP. Because TaskUs’ reported non-GAAP financial measures are not calculated in accordance with GAAP, these measures are not comparable to GAAP and may not be comparable to similarly described non-GAAP measures reported by other companies within TaskUs’ industry. Consequently, TaskUs’ non-GAAP financial measures should not be evaluated in isolation or supplant comparable GAAP measures, but rather, should be considered together with the information in TaskUs’ consolidated financial statements, which are prepared in accordance with GAAP. Definitions of non-GAAP financial measures and the reconciliations to the most directly comparable measures in accordance with GAAP are provided in subsequent sections of this press release narrative and supplemental schedules.
TaskUs, Inc.
Condensed Consolidated Statements of Income (unaudited)
(in thousands, except per share data)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended December 31, | | Year ended December 31, |
| 2025 | | 2024 | | 2025 | | 2024 |
| Service revenue | $ | 312,956 | | | $ | 274,242 | | | $ | 1,183,547 | | | $ | 994,985 | |
| Operating expenses: | | | | | | | |
| Cost of services | 199,192 | | | 169,846 | | | 736,361 | | | 602,898 | |
| Selling, general, and administrative expense | 59,359 | | | 67,755 | | | 244,888 | | | 239,585 | |
| Depreciation | 10,741 | | | 9,698 | | | 41,164 | | | 40,223 | |
| Amortization of intangible assets | 5,005 | | | 4,980 | | | 19,983 | | | 19,935 | |
| Loss (gain) on disposal of assets | 574 | | | 13 | | | 525 | | | (80) | |
| Total operating expenses | 274,871 | | | 252,292 | | | 1,042,921 | | | 902,561 | |
| Operating income | 38,085 | | | 21,950 | | | 140,626 | | | 92,424 | |
| Other income, net | (4,526) | | | (1,299) | | | (14,433) | | | (3,306) | |
| Financing expenses | 4,460 | | | 5,017 | | | 18,385 | | | 21,549 | |
| Income before income taxes | 38,151 | | | 18,232 | | | 136,674 | | | 74,181 | |
| Provision for income taxes | 8,446 | | | 9,373 | | | 34,399 | | | 28,311 | |
| Net income | $ | 29,705 | | | $ | 8,859 | | | $ | 102,275 | | | $ | 45,870 | |
| Net income per common share: | | | | | | | |
| Basic | $ | 0.33 | | | $ | 0.10 | | | $ | 1.14 | | | $ | 0.52 | |
| Diluted | $ | 0.32 | | | $ | 0.10 | | | $ | 1.10 | | | $ | 0.50 | |
| Weighted-average number of common shares outstanding: | | | | | | | |
| Basic | 90,442,765 | | | 89,545,980 | | | 90,026,126 | | | 88,912,835 | |
| Diluted | 92,810,993 | | | 93,157,346 | | | 93,025,189 | | | 92,304,270 | |
TaskUs, Inc.
Condensed Consolidated Balance Sheets (unaudited)
(in thousands)
| | | | | | | | | | | |
| December 31,
2025 | | December 31,
2024 |
| Assets | | | |
| Current assets: | | | |
| Cash and cash equivalents | $ | 211,676 | | | $ | 192,166 | |
| Accounts receivable, net of allowance for credit losses of $911 and $1,299, respectively | 254,053 | | | 198,996 | |
| | | |
| | | |
| Income tax receivable | 524 | | | 912 | |
| | | |
| Prepaid expenses and other current assets | 42,994 | | | 43,278 | |
| Total current assets | 509,247 | | | 435,352 | |
| Noncurrent assets: | | | |
| Property and equipment, net | 95,426 | | | 66,775 | |
| Operating lease right-of-use assets | 53,167 | | | 47,334 | |
| Deferred tax assets | 12,366 | | | 8,431 | |
| Intangibles | 153,490 | | | 172,525 | |
| Goodwill | 219,533 | | | 216,791 | |
| Other noncurrent assets | 7,536 | | | 6,090 | |
| Total noncurrent assets | 541,518 | | | 517,946 | |
| Total assets | $ | 1,050,765 | | | $ | 953,298 | |
| Liabilities and Shareholders’ Equity | | | |
| Liabilities: | | | |
| Current liabilities: | | | |
| Accounts payable and accrued liabilities | $ | 45,242 | | | $ | 53,403 | |
| Accrued payroll and employee-related liabilities | 64,549 | | | 54,160 | |
| Current portion of debt | 21,559 | | | 14,809 | |
| Current portion of operating lease liabilities | 19,284 | | | 16,087 | |
| Current portion of income tax payable | 9,354 | | | 9,839 | |
| Deferred revenue | 3,273 | | | 3,727 | |
| Total current liabilities | 163,261 | | | 152,025 | |
| Noncurrent liabilities: | | | |
| Income tax payable | 9,752 | | | 6,496 | |
| Long-term debt | 219,798 | | | 241,357 | |
| Operating lease liabilities | 37,086 | | | 32,946 | |
| Accrued payroll and employee-related liabilities | 6,575 | | | 6,425 | |
| Deferred tax liabilities | 14,304 | | | 17,046 | |
| Other noncurrent liabilities | — | | | 84 | |
| Total noncurrent liabilities | 287,515 | | | 304,354 | |
| Total liabilities | 450,776 | | | 456,379 | |
| Total shareholders’ equity | 599,989 | | | 496,919 | |
| Total liabilities and shareholders’ equity | $ | 1,050,765 | | | $ | 953,298 | |
TaskUs, Inc.
Condensed Consolidated Statement of Cash Flows (unaudited)
(in thousands)
| | | | | | | | | | | |
| Year ended December 31, |
| 2025 | | 2024 |
| Cash flows from operating activities: | | | |
| Net income | $ | 102,275 | | | $ | 45,870 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | |
| Depreciation | 41,526 | | | 40,223 | |
| Amortization of intangibles | 19,983 | | | 19,935 | |
| Amortization of debt financing fees | 596 | | | 596 | |
| Loss (gain) on disposal of assets | 525 | | | (80) | |
| Provision (benefit) for credit losses | 1,016 | | | (15) | |
| Unrealized foreign exchange gains on forward contracts | — | | | (689) | |
| Deferred taxes | (7,473) | | | (10,889) | |
| Stock-based compensation expense | 29,659 | | | 41,821 | |
| Changes in operating assets and liabilities: | | | |
| Accounts receivable | (55,124) | | | (22,758) | |
| Prepaid expenses and other current assets | 4,225 | | | (20,949) | |
| Operating lease right-of-use assets | 21,050 | | | 16,109 | |
| Other noncurrent assets | (1,540) | | | (63) | |
| Accounts payable and accrued liabilities | (12,785) | | | 23,529 | |
| Accrued payroll and employee-related liabilities | 10,510 | | | 18,251 | |
| Operating lease liabilities | (19,613) | | | (17,312) | |
| Income tax payable | 2,935 | | | 5,801 | |
| Deferred revenue | (469) | | | (347) | |
| Other noncurrent liabilities | (81) | | | (145) | |
| Net cash provided by operating activities | 137,215 | | | 138,888 | |
| Cash flows from investing activities: | | | |
| Purchase of property and equipment | (63,500) | | | (39,104) | |
| | | |
| | | |
| Net cash used in investing activities | (63,500) | | | (39,104) | |
| Cash flows from financing activities: | | | |
| | | |
| | | |
| Payments for deferred business acquisition consideration | (150) | | | (144) | |
| Payments on long-term debt | (15,189) | | | (8,438) | |
| | | |
| | | |
| Proceeds from employee stock plans | 8,588 | | | 6,261 | |
| | | |
| Payments for taxes related to net share settlement | (9,679) | | | (4,255) | |
| Payments for stock repurchases | (27,782) | | | (18,600) | |
| | | |
| Net cash used in financing activities | (44,212) | | | (25,176) | |
| Increase in cash and cash equivalents | 29,503 | | | 74,608 | |
| Effect of exchange rate changes on cash | (9,993) | | | (8,218) | |
| Cash and cash equivalents at beginning of period | 192,166 | | | 125,776 | |
| Cash and cash equivalents at end of period | $ | 211,676 | | | $ | 192,166 | |
TaskUs, Inc.
Non-GAAP Reconciliations
Adjusted EBITDA (unaudited)
(in thousands, except margin amounts)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended December 31, | | Year ended December 31, |
| 2025 | | 2024 | | 2025 | | 2024 |
| Net income | $ | 29,705 | | | $ | 8,859 | | | $ | 102,275 | | | $ | 45,870 | |
| Provision for income taxes | 8,446 | | | 9,373 | | | 34,399 | | | 28,311 | |
| Financing expenses | 4,460 | | | 5,017 | | | 18,385 | | | 21,549 | |
| Depreciation | 10,741 | | | 9,698 | | | 41,164 | | | 40,223 | |
| Amortization of intangible assets | 5,005 | | | 4,980 | | | 19,983 | | | 19,935 | |
| EBITDA | $ | 58,357 | | | $ | 37,927 | | | $ | 216,206 | | | $ | 155,888 | |
Transaction costs(1) | (94) | | | — | | | 11,899 | | | — | |
Operational efficiency costs(2) | 275 | | | — | | | 2,383 | | | — | |
Foreign currency losses (gains)(3) | (2,800) | | | (890) | | | (8,029) | | | 1,302 | |
| Loss (gain) on disposal of assets | 574 | | | 13 | | | 525 | | | (80) | |
| | | | | | | |
Severance costs(4) | 318 | | | — | | | 1,515 | | | 487 | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
Litigation costs(5) | — | | | 8,393 | | | — | | | 15,423 | |
Stock-based compensation expense(6) | 6,245 | | | 9,957 | | | 30,404 | | | 42,391 | |
Interest income(7) | (1,477) | | | (1,605) | | | (5,829) | | | (5,544) | |
| Adjusted EBITDA | $ | 61,398 | | | $ | 53,795 | | | $ | 249,074 | | | $ | 209,867 | |
Net Income Margin(8) | 9.5 | % | | 3.2 | % | | 8.6 | % | | 4.6 | % |
Adjusted EBITDA Margin(8) | 19.6 | % | | 19.6 | % | | 21.0 | % | | 21.1 | % |
(1) Represents non-recurring professional service fees related to the take-private transaction that have been expensed during the period.
(2) Represents professional service fees related to certain efforts to enhance efficiency of client delivery and operations support.
(3) Represents the effect of fair market value changes of forward contracts not designated as hedging instruments and remeasurement of U.S. dollar-denominated accounts to foreign currency.
(4) Represents severance payments as a result of certain cost optimization measures we undertook during the period to restructure support roles.
(5) Represents only those litigation costs that are considered non-recurring and outside of the ordinary course of business.
(6) Represents stock-based compensation expense, as well as associated payroll tax.
(7) Represents interest earned on short-term savings, time-deposits and money market funds.
(8) Net Income Margin represents net income divided by service revenue and Adjusted EBITDA Margin represents Adjusted EBITDA divided by service revenue.
TaskUs, Inc.
Non-GAAP Reconciliations
Adjusted Net Income (unaudited)
(in thousands, except margin amounts)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended December 31, | | Year ended December 31, |
| 2025 | | 2024 | | 2025 | | 2024 |
| Net income | $ | 29,705 | | | $ | 8,859 | | | $ | 102,275 | | | $ | 45,870 | |
Amortization of intangible assets | 5,005 | | | 4,980 | | | 19,983 | | | 19,935 | |
Transaction costs(1) | (94) | | | — | | | 11,899 | | | — | |
Operational efficiency costs(2) | 275 | | | — | | | 2,383 | | | — | |
Foreign currency losses (gains)(3) | (2,800) | | | (890) | | | (8,029) | | | 1,302 | |
| Loss (gain) on disposal of assets | 574 | | | 13 | | | 525 | | | (80) | |
| | | | | | | |
Severance costs(4) | 318 | | | — | | | 1,515 | | | 487 | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
Litigation costs(5) | — | | | 8,393 | | | — | | | 15,423 | |
Stock-based compensation expense(6) | 6,245 | | | 9,957 | | | 30,404 | | | 42,391 | |
Tax impacts of adjustments(7) | (2,144) | | | (2,812) | | | (9,246) | | | (6,644) | |
Adjusted Net Income | $ | 37,084 | | | $ | 28,500 | | | $ | 151,709 | | | $ | 118,684 | |
Net Income Margin(8) | 9.5 | % | | 3.2 | % | | 8.6 | % | | 4.6 | % |
Adjusted Net Income Margin(8) | 11.8 | % | | 10.4 | % | | 12.8 | % | | 11.9 | % |
(1) Represents non-recurring professional service fees related to the take-private transaction that have been expensed during the period.
(2) Represents professional service fees related to certain efforts to enhance efficiency of client delivery and operations support.
(3) Represents the effect of fair market value changes of forward contracts not designated as hedging instruments and remeasurement of U.S. dollar-denominated accounts to foreign currency.
(4) Represents severance payments as a result of certain cost optimization measures we undertook during the period to restructure support roles.
(5) Represents only those litigation costs that are considered non-recurring and outside of the ordinary course of business.
(6) Represents stock-based compensation expense, as well as associated payroll tax.
(7) Represents tax impacts of adjustments to net income which resulted in a tax benefit during the period, including stock-based compensation expense, earn-out consideration, litigation costs and severance. After these adjustments, we applied a non-GAAP effective tax rate of 23.5% and 33.3% for the three months ended December 31, 2024 and 2023, respectively, and 23.9% and 26.4% for the year ended December 31, 2025 and 2024, respectively, to non-GAAP income before income taxes.
(8) Net Income Margin represents net income divided by service revenue and Adjusted Net Income Margin represents Adjusted Net Income divided by service revenue.
TaskUs, Inc.
Non-GAAP Reconciliations
Adjusted EPS (unaudited)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended December 31, | | Year ended December 31, |
| 2025 | | 2024 | | 2025 | | 2024 |
| Diluted EPS | $ | 0.32 | | | $ | 0.10 | | | $ | 1.10 | | | $ | 0.50 | |
Per share adjustments to net income(1) | 0.08 | | | 0.21 | | | 0.53 | | | 0.79 | |
| | | | | | | |
| Adjusted EPS | $ | 0.40 | | | $ | 0.31 | | | $ | 1.63 | | | $ | 1.29 | |
| | | | | | | |
| Weighted-average common shares outstanding – diluted | 92,810,993 | | | 93,157,346 | | | 93,025,189 | | | 92,304,270 | |
| | | | | | | |
| | | | | | | |
(1) Reflects the aggregate adjustments made to reconcile net income to Adjusted Net Income, as noted in the above table, divided by the GAAP diluted weighted-average number of shares outstanding for the relevant period.
TaskUs, Inc.
Non-GAAP Reconciliations
Free Cash Flow (unaudited)
($ in thousands)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended December 31, | | Year ended December 31, |
| 2025 | | 2024 | | 2025 | | 2024 |
| Net cash provided by operating activities | $ | 29,666 | | | $ | 40,658 | | | $ | 137,215 | | | $ | 138,888 | |
| Purchase of property and equipment | (19,747) | | | (20,283) | | | (63,500) | | | (39,104) | |
| Free Cash Flow | $ | 9,919 | | | $ | 20,375 | | | $ | 73,715 | | | $ | 99,784 | |
| Payment for transaction costs | 2,857 | | | — | | | 6,046 | | | — | |
| Payment for litigation costs | — | | | 4,762 | | | 7,850 | | | 7,573 | |
| Payment for operational efficiency costs | 138 | | | — | | | 2,246 | | | — | |
| Adjusted Free Cash Flow | $ | 12,914 | | | $ | 25,137 | | | $ | 89,857 | | | $ | 107,357 | |
Conversion of Adjusted EBITDA to Free Cash Flow(1) | 16.2 | % | | 37.9 | % | | 29.6 | % | | 47.5 | % |
Conversion of Adjusted EBITDA to Adjusted Free Cash Flow(1) | 21.0 | % | | 46.7 | % | | 36.1 | % | | 51.2 | % |
(1) Conversion of Adjusted EBITDA to Free Cash Flow represents Free Cash Flow divided by Adjusted EBITDA. Conversion of Adjusted EBITDA to Adjusted Free Cash Flow represents Adjusted Free Cash Flow divided by Adjusted EBITDA.
Definitions of Non-GAAP Metrics
EBITDA and Adjusted EBITDA
EBITDA is a non-GAAP profitability measure that represents net income or loss for the period before the impact of the benefit from or provision for income taxes, financing expenses, depreciation, and amortization of intangible assets. EBITDA eliminates potential differences in performance caused by variations in capital structures (affecting financing expenses), tax positions (such as the availability of net operating losses against which to relieve taxable profits), the cost and age of tangible assets (affecting relative depreciation expense) and the extent to which intangible assets are identifiable (affecting relative amortization expense).
Adjusted EBITDA is a non-GAAP profitability measure that represents EBITDA before certain items that are considered to hinder comparison of the performance of our business on a period-over-period basis or with other businesses. During the periods presented, we excluded from Adjusted EBITDA transaction costs, operational efficiency costs, the effect of foreign currency gains and losses, gains and losses on disposals of assets, certain severance costs, certain non-recurring litigation costs, stock-based compensation expense and associated employer payroll tax and interest income, which include costs that are required to be expensed in accordance with GAAP. Our management believes that the inclusion of supplementary adjustments to EBITDA applied in presenting Adjusted EBITDA are appropriate to provide additional information to investors about certain material non-cash items and about unusual items that we do not expect to continue at the same level in the future.
Adjusted EBITDA Margin represents Adjusted EBITDA divided by service revenue.
Adjusted Net Income
Adjusted Net Income is a non-GAAP profitability measure that represents net income or loss for the period before the impact of amortization of intangible assets and certain items that are considered to hinder comparison of the performance of our business on a period-over-period basis or with other businesses. During the periods presented, we excluded from Adjusted Net Income amortization of intangible assets, transaction costs, operational efficiency costs, the effect of foreign currency gains and losses, gains and losses on disposals of assets, certain severance costs, certain non-recurring litigation costs, stock-based compensation expense and associated employer payroll tax and the related effect on income taxes of certain pre-tax adjustments, which include costs that are required to be expensed in accordance with GAAP. Our management believes that the inclusion of supplementary adjustments to net income applied in presenting Adjusted Net Income are appropriate to provide additional information to investors about certain material non-cash items and about unusual items that we do not expect to continue at the same level in the future.
Adjusted Net Income Margin represents Adjusted Net Income divided by service revenue.
Adjusted EPS
Adjusted EPS is a non-GAAP profitability measure that represents earnings available to shareholders excluding the impact of certain items that are considered to hinder comparison of the performance of our business on a period-over-period basis or with other businesses. Adjusted EPS is calculated as Adjusted Net Income divided by our diluted weighted-average number of shares outstanding. Our management believes that the inclusion of supplementary adjustments to earnings per share applied in presenting Adjusted EPS are appropriate to provide additional information to investors about certain material non-cash items and about unusual items that we do not expect to continue at the same level in the future.
Free Cash Flow and Adjusted Free Cash Flow
Free Cash Flow is a non-GAAP liquidity measure that represents our ability to generate additional cash from our business operations. Free Cash Flow is calculated as net cash provided by operating activities in the period minus cash used for purchase of property and equipment in the period. Our management believes that the inclusion of this non-GAAP measure, when considered with our GAAP results, provides management and investors with an additional understanding of our ability to generate additional cash for ongoing business operations and other capital deployment.
Adjusted Free Cash Flow is a non-GAAP liquidity measure that represents Free Cash Flow before the payments for transaction costs, operational efficiency costs and certain litigation costs, that are considered non-recurring and outside of the ordinary course of business, which would hinder comparison of the performance of our business on a period-over-period basis or with other businesses. Our management believes that the inclusion of these supplementary adjustment to Free Cash Flow are appropriate to provide additional information to investors about these unusual items that we do not expect to continue at the same level in the future.
Conversion of Adjusted EBITDA to Free Cash Flow represents Free Cash Flow divided by Adjusted EBITDA. Conversion of Adjusted EBITDA to Adjusted Free Cash Flow represents Adjusted Free Cash Flow divided by Adjusted EBITDA.
TaskUs, Inc. Announces CFO Transition
Balaji Sekar to Step Down to Pursue Role at Private Company
Trent Thrash, Senior Vice President of Corporate Development and Investor Relations, Appointed Interim Chief Financial Officer
Garrett Gold, Vice President of Accounting and Financial Reporting, Appointed Principal Accounting Officer
NEW BRAUNFELS, Texas, February 25, 2026 – TaskUs, Inc. (Nasdaq: TASK) (“TaskUs” or the “Company”), a leading provider of outsourced digital services and next-generation customer experience to the world’s most innovative companies, today announced that Chief Financial Officer Balaji Sekar has informed the Company of his intention to step down to pursue a role at a private company. He will remain with TaskUs through March 31, 2026, and serve as an advisor for an additional six months to support a smooth transition.
Effective as of March 31, 2026, Trent Thrash, Senior Vice President of Corporate Development and Investor Relations, will assume the role of Interim Chief Financial Officer and Garrett Gold, Vice President of Accounting and Financial Reporting, will assume the role of Principal Accounting Officer. TaskUs has initiated a comprehensive search process for a permanent Chief Financial Officer.
“On behalf of the management team and Board, I want to thank Balaji for his meaningful contributions to TaskUs over nearly a decade. He was instrumental in building our finance and accounting teams to be public company ready as we scaled and then completed a successful IPO. We wish him well as he takes this next step in his career,” said Bryce Maddock, CEO of TaskUs. “We are fortunate to have a deep executive bench at TaskUs. Trent and Garrett are trusted leaders at the Company, and their knowledge of our business and decades of combined experience will help us continue to execute on our financial goals as we search for our next CFO.”
Mr. Thrash joined TaskUs in 2021 and has more than 25 years of corporate development, accounting, and finance experience, predominantly within the BPO and software industries. He is a Certified Public Accountant and began his career as an auditor at PwC. Mr. Gold joined TaskUs in 2021 and has more than 12 years of public company accounting and SEC reporting experience across a range of industries. He is a Certified Public Accountant and a Certified Management Accountant.
“Serving as TaskUs’ CFO and working alongside Bryce, Jaspar, Blackstone, our Board of Directors and our talented employees during such an important chapter in the Company’s journey has been an honor,” said Mr. Sekar. “I am confident in management’s ability to continue transforming the business for the AI era, and I look forward to seeing all that TaskUs can accomplish in the years ahead.”
Mr. Sekar’s decision to pursue a new role does not involve any disagreement with the Company or Board.
Fiscal Fourth Quarter and Full Year 2025 Results
In a separate press release today, TaskUs announced its results for the fourth quarter and full year ended December 31, 2025, and financial outlook for the first quarter and full year 2026.
About TaskUs
TaskUs (Nasdaq: TASK) delivers outsourced digital services that power the companies shaping the future. By combining specialized human talent and intelligent technology, we solve complex operational challenges for global category leaders within AI, autonomous vehicles (AV), robotics, social media, financial services, healthcare, and beyond. We enable our clients to elevate their customer experience, protect their platforms, and grow their brands. For more information, visit www.taskus.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, and further include, without limitation, statements reflecting our current views with respect to, among other things, the CFO transition, our operations, our financial performance, our industry, the impact of the macroeconomic environment on our business, and other non-historical statements including the statements regarding AI transformation and growth initiatives. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “would,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates,” “position us” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to: the dependence of our business on key clients; the risk of loss of business or non-payment from clients; our failure to cost-effectively acquire new clients; the risk that we may provide inadequate service or cause disruptions in our clients’ businesses or fail to comply with the quality standards required by our clients under our agreements; our inability to anticipate clients’ needs by adapting to market and technology trends; increased adoption or utilization of artificial intelligence by our clients or us or our failure to appropriately incorporate artificial intelligence into our operations; unauthorized or improper disclosure of personal or other sensitive information, or security breaches and incidents; negative publicity or liability or difficulty recruiting and retaining employees; our failure to detect and deter criminal or fraudulent activities or other misconduct by our employees or third parties; global economic and political conditions, especially in the social media and meal delivery and transport industries from which we generate significant revenue; the dependence of our business on our international operations, particularly in the Philippines and India; our failure to comply with applicable data privacy and security laws and regulations; fluctuations against the U.S. dollar in the local currencies in the countries in which we operate; our inability to maintain and enhance our brand; competitive pricing pressure; volatile, unfavorable or uncertain economic or political conditions, particularly in the markets in which our clients and operations are concentrated, and the effects of these conditions on our clients’ businesses; our dependence on senior management and key employees; increases in employee expenses and changes to labor laws; failure to attract, hire, train and retain a sufficient number of skilled employees to support operations; our inability to effectively expand our operations into countries or industries in which we have no prior operating experience and in which we may be subject to increased business, economic and regulatory risks; reliance on owned and third-party technology and computer systems; failure to maintain asset utilization levels, price appropriately and control costs; the control of affiliates of Blackstone Inc. and our Co-Founders over us; the dual class structure of our common stock; and the volatility of the market price of our Class A common stock. Additional risks and uncertainties include but are not limited to those described under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025, as such factors may be updated from time to time in our filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company’s SEC filings. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. TaskUs undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.
Investor Contact:
Trent Thrash
IR@TaskUs.com
Media Contact:
Ramya Kumaraswamy
mediainquiries@taskus.com
TaskUs, Inc. Announces Refinancing Commitments and Declares Special Cash Dividend of $3.65 Per Share
$500 Million Term Loan and $100 Million Revolving Credit Facility to Support Ongoing AI Transformation and Growth Initiatives While Optimizing Company’s Capital Structure
Special Cash Dividend to be Paid on March 25 to Stockholders of Record as of March 11
NEW BRAUNFELS, Texas, February 25, 2026 – TaskUs, Inc. (Nasdaq: TASK) (“TaskUs” or the “Company”), a leading provider of outsourced digital services and next-generation customer experience to the world’s most innovative companies, today announced that it has secured commitments for a comprehensive refinancing to address its upcoming 2027 debt maturities and that its Board of Directors has authorized and declared a special cash dividend of $3.65 per share.
The refinancing includes a $500 million term loan and $100 million revolving credit facility (together, the “Credit Facilities”), each maturing in March 2031. Borrowings under the Credit Facilities will bear interest, at the Company’s option, at a rate equal to Term SOFR (with a floor of 0%) plus 2.75%, or an alternate base rate (with a floor of 1.0%) plus 1.75%.
Supported by TaskUs’ consistent free cash flow generation and a net leverage ratio estimated to be approximately 1.5 times Adjusted EBITDA following the closing of the refinancing and payment of the special dividend, the Credit Facilities will help optimize the Company’s capital structure. Additionally, following the refinancing and special dividend, TaskUs expects to continue its strategic initiatives to maintain its position as a leading provider of specialized services and accelerate its AI transformation.
The special cash dividend (estimated to be approximately $333 million in the aggregate) will be paid on March 25, 2026, to stockholders of record as of March 11, 2026. It will be funded by proceeds of the Credit Facilities and cash on the Company’s balance sheet after payment of all outstanding obligations under the existing credit facilities and refinancing-related expenses.
"This refinancing will maintain our financial flexibility and disciplined leverage profile and, combined with our consistent cash flow and strong financial performance, enables us to invest aggressively in our AI transformation strategy," said Co-Founder and CEO, Bryce Maddock. “The special dividend underscores our commitment to creating and returning value directly to our stockholders. We appreciate the continued support and confidence of our stockholders, lenders, customers and the entire TaskUs team.”
Fiscal Fourth Quarter and Full Year 2025 Results
In a separate press release today, TaskUs announced its results for the fourth quarter and full year ended December 31, 2025, and financial outlook for the first quarter and full year 2026.
About TaskUs
TaskUs (Nasdaq: TASK) delivers outsourced digital services that power the companies shaping the future. By combining specialized human talent and intelligent technology, we solve complex operational challenges for global category leaders within AI, autonomous vehicles (AV), robotics, social media, financial services, healthcare, and beyond. We enable our clients to elevate their customer experience, protect their platforms, and grow their brands. For more information, visit www.taskus.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, and further include, without limitation, statements reflecting our current views with respect to, among other things, the refinancing and payment of the declared special cash dividend, our operations, our financial performance, our industry, the impact of the macroeconomic environment on our business, and other non-historical statements including the statements regarding estimated net leverage ratio, and AI transformation and growth initiatives. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “would,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates,” “position us” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to: the dependence of our business on key clients; the risk of loss of business or non-payment from clients; our failure to cost-effectively acquire new clients; the risk that we may provide inadequate service or cause disruptions in our clients’ businesses or fail to comply with the quality standards required by our clients under our agreements; our inability to anticipate clients’ needs by adapting to market and technology trends; increased adoption or utilization of artificial intelligence by our clients or us or our failure to appropriately incorporate artificial intelligence into our operations; unauthorized or improper disclosure of personal or other sensitive information, or security breaches and incidents; negative publicity or liability or difficulty recruiting and retaining employees; our failure to detect and deter criminal or fraudulent activities or other misconduct by our employees or third parties; global economic and political conditions, especially in the social media and meal delivery and transport industries from which we generate significant revenue; the dependence of our business on our international operations, particularly in the Philippines and India; our failure to comply with applicable data privacy and security laws and regulations; fluctuations against the U.S. dollar in the local currencies in the countries in which we operate; our inability to maintain and enhance our brand; competitive pricing pressure; volatile, unfavorable or uncertain economic or political conditions, particularly in the markets in which our clients and operations are concentrated, and the effects of these conditions on our clients’ businesses; our dependence on senior management and key employees; increases in employee expenses and changes to labor laws; failure to attract, hire, train and retain a sufficient number of skilled employees to support operations; our inability to effectively expand our operations into countries or industries in which we have no prior operating experience and in which we may be subject to increased business, economic and regulatory risks; reliance on owned and third-party technology and computer systems; failure to maintain asset utilization levels, price appropriately and control costs; the control of affiliates of Blackstone Inc. and our Co-Founders over us; the dual class structure of our common stock; and the volatility of the market price of our Class A common stock. Additional risks and uncertainties include but are not limited to those described under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025, as such factors may be updated from time to time in our filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company’s SEC filings. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. TaskUs undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.
Non-GAAP Financial Measures
TaskUs supplements results reported in accordance with United States generally accepted accounting principles (“GAAP”), with certain non-GAAP measures such as net leverage ratios. With respect to the non-GAAP net leverage ratio provided above, a reconciliation to the closest GAAP financial measure has not been provided as the quantification of certain items included in the calculation cannot be calculated or predicted at this time without unreasonable efforts. For the same reasons, TaskUs is unable to address the probable significance of the available information, which could have a potentially unpredictable, and potentially significant, impact on its future GAAP financial results.
Investor Contact:
Trent Thrash
IR@TaskUs.com
Media Contact:
Ramya Kumaraswamy
mediainquiries@taskus.com
