TaskUs Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 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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Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)
| Three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $11,714 | $9,509 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 10,789 | 9,661 |
| Amortization of intangibles | 4,985 | 5,124 |
| Amortization of debt financing fees | 149 | 149 |
| Loss (gain) on disposal of assets | (177) | 65 |
| Benefit from credit losses | (258) | — |
| Unrealized foreign exchange losses (gains) on forward contracts | 1,497 | (6,336) |
| Deferred taxes | (1,094) | (90) |
| Stock-based compensation expense | 10,235 | 13,464 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 11,296 | 8,070 |
| Prepaid expenses and other current assets | (331) | (16) |
| Operating lease right-of-use assets | 3,941 | 3,825 |
| Other noncurrent assets | 207 | 34 |
| Accounts payable and accrued liabilities | (3,866) | (5,356) |
| Accrued payroll and employee-related liabilities | 805 | 3,520 |
| Operating lease liabilities | (4,374) | (3,310) |
| Income tax payable | 5,614 | 5,789 |
| Deferred revenue | 47 | (417) |
| Other noncurrent liabilities | (2) | (2) |
| Net cash provided by operating activities | 51,177 | 43,683 |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (3,572) | (5,244) |
| Investment in loan receivable | — | (1,000) |
| Net cash used in investing activities | (3,572) | (6,244) |
| Cash flows from financing activities: | ||
| Payments on long-term debt | (1,688) | (675) |
| Proceeds from employee stock plans | 195 | 209 |
| Payments for taxes related to net share settlement | (1,574) | (257) |
| Payments for stock repurchases | (2,597) | (6,374) |
| Net cash used in financing activities | (5,664) | (7,097) |
| Increase in cash and cash equivalents | 41,941 | 30,342 |
| Effect of exchange rate changes on cash | (2,367) | 2,677 |
| Cash and cash equivalents at beginning of period | 125,776 | 133,992 |
| Cash and cash equivalents at end of period | $165,350 | $167,011 |
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