TaskUs Inc
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
TASK$9.23+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $45,690 | $40,422 | $(58,698) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation | 40,391 | 37,915 | 29,038 |
| Amortization of intangibles | 20,346 | 19,882 | 18,847 |
| Amortization of debt financing fees | 596 | 569 | 526 |
| Loss on disposal of assets | 1,322 | 31 | 52 |
| Provision for credit losses | 103 | 1,746 | 1,058 |
| Unrealized foreign exchange losses (gains) on forward contracts | 2,485 | (4,589) | 4,573 |
| Deferred taxes | (7,959) | (11,755) | (11,477) |
| Stock-based compensation expense | 52,759 | 68,979 | 46,189 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 1,861 | (15,052) | (76,203) |
| Prepaid expenses and other current assets | (2,015) | (7,131) | (8,611) |
| Operating lease right-of-use assets | 14,314 | 12,726 | — |
| Other noncurrent assets | (132) | (1,240) | (2,380) |
| Accounts payable and accrued liabilities | (9,825) | 1,822 | 4,493 |
| Accrued payroll and employee-related liabilities | (7,877) | 13,589 | 16,450 |
| Operating lease liabilities and deferred rent | (13,823) | (12,391) | 1,195 |
| Income tax payable | 4,910 | 3,826 | 1,013 |
| Deferred revenue | 592 | (623) | 1,261 |
| Other noncurrent liabilities | (68) | (1,631) | — |
| Net cash provided by (used in) operating activities | 143,670 | 147,095 | (32,674) |
| Cash flows from investing activities: | |||
| Purchase of property and equipment | (30,995) | (43,758) | (59,363) |
| Acquisition, net of cash acquired | — | (23,235) | — |
| Investment in loan receivable | (1,000) | (1,000) | — |
| Net cash used in investing activities | (31,995) | (67,993) | (59,363) |
| Cash flows from financing activities: | |||
| Proceeds from borrowings, Revolving credit facility | — | 32,500 | — |
| Proceeds from long-term debt | — | 270,000 | — |
| Payments for deferred business acquisition consideration | (1,875) | — | — |
| Payments on long-term debt | (3,713) | (273,080) | (6,563) |
| Payments for debt financing fees | — | (1,821) | (340) |
| Proceeds from issuance of common stock, net of underwriters’ fees | — | — | 120,698 |
| Proceeds from employee stock plans | 631 | 3,478 | — |
| Payments for offering costs | — | — | (4,798) |
| Payments for taxes related to net share settlement | (2,169) | (4,145) | (4,607) |
| Payments for stock repurchases | (111,959) | (30,967) | — |
| Distribution of dividends | — | — | (50,000) |
| Net cash provided by (used in) financing activities | (119,085) | (4,035) | 54,390 |
| Increase (decrease) in cash and cash equivalents | (7,410) | 75,067 | (37,647) |
| Effect of exchange rate changes on cash | (806) | (4,659) | (6,497) |
| Cash and cash equivalents at beginning of period | 133,992 | 63,584 | 107,728 |
| Cash and cash equivalents at end of period | $125,776 | $133,992 | $63,584 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $21,557 | $9,952 | $5,907 |
| Cash paid for taxes, net of refunds | $31,747 | $31,805 | $7,487 |
| Noncash operating, investing and financing activities: | |||
| Accrued capital expenditures | $4,451 | $3,108 | $7,817 |
| Noncash reclass for customer-billed equipment | $— | $— | $1,874 |
| Loan receivable exchanged for software | $2,182 | $— | $— |
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