TaskUs第二季收入增5% AI服務上半年急升30.6% 派特別息後股東權益大減

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

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________
FORM 10-Q
_______________________
(Mark One)

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026
or

oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from_____________to______________
Commission File Number: 001-40482
_______________________
TaskUs, Inc.
(Exact name of registrant as specified in its charter)
_______________________

Delaware83-1586636
(State or other jurisdiction of incorporation or organization)(I.R.S. 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)
N/A
(Former name, former address and former fiscal year, if changed since last report)
_______________________
Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, par value $0.01 per shareTASKThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes o No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). x Yes o No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated fileroAccelerated filer☑

Non-accelerated fileroSmaller reporting companyo

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. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). o Yes x No 
As of July 31, 2026, the number of shares outstanding of the registrant’s common stock was as follows: Class A common stock, par value $0.01 per share: 36,654,327; Class B common stock, par value $0.01 per share: 55,032,694.

TASKUS, INC.
Quarterly Report on Form 10-Q
For Quarterly Period Ended June 30, 2026
Table of Contents

Page No.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
1

WEBSITE AND SOCIAL MEDIA DISCLOSURE
2

PART I.
FINANCIAL INFORMATION
3

Item 1.
Financial Statements
3

Unaudited Condensed Consolidated Balance Sheets
3

Unaudited Condensed Consolidated Statements of Income
4

Unaudited Condensed Consolidated Statements of Comprehensive Income
5

Unaudited Condensed Consolidated Statements of Shareholders’ Equity
6

Unaudited Condensed Consolidated Statements of Cash Flows
7

Notes to Unaudited Condensed Consolidated Financial Statements
8

Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
22

Item 3.
Quantitative and Qualitative Disclosures About Market Risk
33

Item 4.
Controls and Procedures
34

PART II.
OTHER INFORMATION
35

Item 1.
Legal Proceedings
35

Item 1A.
Risk Factors
35

Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
35

Item 3.
Defaults Upon Senior Securities
35

Item 4.
Mine Safety Disclosures
35

Item 5.
Other Information
35

Item 6.
Exhibits
36

Signatures
37

Table of Contents

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q (this "Quarterly Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which may also be contained in our other filing under Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), involve certain known and unknown risks and uncertainties. Forward-looking statements include all statements that are not historical facts. 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," "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. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Our actual results may differ significantly from any results expressed or implied by any forward-looking statements. A summary of the principal risk factors that might cause our actual results to differ from our forward-looking statements is set forth below. The following list is only a summary of the principal risks that may materially adversely affect our business, financial condition and results of operations; these factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this Quarterly Report and the Company's other filings with the Securities and Exchange Commission (the "SEC"), and the more complete discussion of the risk factors we face, which are set forth under Part I, Item 1A, "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025 (our "Annual Report"), as filed with the SEC, as such risk factors may be further updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Such risks and uncertainties include, but are not limited to, the following:
•Our business is dependent on key clients, and the loss of a key client could have an adverse effect on our business, financial condition or results of operations.
•Our clients may terminate contracts before completion or choose not to renew contracts and a loss of business or non-payment from clients could materially affect our results of operations. 
•We may fail to cost-effectively acquire and retain new clients, which would adversely affect our business, financial condition or results of operations.
•If we provide inadequate service or cause disruptions in our clients’ businesses, or if we fail to comply with the quality standards required by our clients under our agreements, it could result in significant costs to us, the loss of our clients and damage to our corporate reputation.
•Our business prospects will suffer if we are unable to continue to anticipate our clients’ needs by adapting to market and technology trends, investing in technology as it develops, and adapting our services and solutions to changes in technology and client expectations. 
•Increased adoption and utilization of artificial intelligence (“AI”), including Generative AI and Agentic AI, by our clients or us, or our failure to appropriately incorporate AI into our operations could adversely affect our business, reputation, or financial results.
•Unauthorized or improper disclosure of personal or other sensitive information, or security breaches and incidents, whether inadvertent or purposeful, including as the result of a cyber-attack, could result in liability and harm our reputation, each of which could adversely affect our business, financial condition, results of operations and prospects.
•Trust & Safety, including content moderation and monitoring services, is a meaningful portion of our business. The long term impacts on the mental health and well-being of our employees doing this work are unknown. This work may lead to stress disorders and may create liabilities for us. This work is also subject to significant press and regulatory scrutiny. As a result, we may be subject to negative publicity or liability, or face difficulties recruiting and retaining employees, any of which could have an adverse effect on our reputation, business, financial condition or results of operations.
•Our failure to detect and deter criminal or fraudulent activities or other misconduct by our employees, or third parties such as contractors and consultants that may have access to our data, could result in loss of trust from our clients and negative publicity, which would have an adverse effect on our business, financial condition or results of operations.
•Global economic and political conditions, especially in the social media and meal delivery and transport industries from which we generate significant revenue, could adversely affect our business, financial condition, results of operations or prospects.
•Our indebtedness and debt service obligations following our March 2026 refinancing. 
•Our business is heavily dependent upon our international operations, particularly in the Philippines and India, and any disruption to those operations would adversely affect us.
•Our business is subject to a variety of state, federal and international laws, including those related to data privacy and security, and we or our clients may be subject to regulations related to the processing of certain types of personal and sensitive information. These laws impose strict requirements on the collection, storage and sharing of personal and sensitive data. Non-compliance by us or our clients could result in legal consequences, including fines, penalties and reputational damage. Additionally, breaches of regulatory requirements could result in litigation, increased scrutiny from regulatory bodies, and loss of customer trust, all of which may adversely affect our business, financial condition, operational results and long-term prospects.    
•Fluctuations against the U.S. dollar in the local currencies in the countries in which we operate could have a material effect on our business, financial condition or results of operations. 
•Our business depends on a strong brand and corporate reputation, and if we are not able to maintain and enhance our brand, our ability to maintain and expand our client base will be impaired and our business, financial condition and results of operations will be adversely affected.
•Pricing pressure may reduce our revenue or gross profits and adversely affect our business, financial condition or results of operations.
•Our business, financial condition and results of operations have been, and could in the future be, adversely affected by volatile, unfavorable or uncertain economic and political conditions, particularly in the markets in which our clients and operations are concentrated, and the effects of these conditions on our clients’ businesses.
•The success of our business depends on our senior management and key employees.
•Increases in employee expenses as well as changes to labor laws could reduce our profit margin.    
•We may fail to attract, hire, train and retain sufficient numbers of skilled employees in a timely fashion at our sites to support our operations, which could have a material adverse effect on our business, financial condition, results of operations and prospects.
•We may face difficulties as we 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 that could impact our business, financial condition or results of operations.
•Our business relies heavily on owned and third-party technology and computer systems, which subjects us to various uncertainties.
•Our profitability will suffer if we are not able to maintain asset utilization levels, price appropriately and control our costs.
•Our Sponsor and our Co-Founders control us and their interests may conflict with ours or yours in the future.
•The dual class structure of our common stock has the effect of concentrating voting control with those stockholders who held our common stock prior to the completion of our June 2021 initial public offering (“IPO”), and it may depress the trading price of our Class A common stock.
•The market price of shares of our Class A common stock has been, and may continue to be, volatile and may decline regardless of our operating performance, which could cause the value of your investment to decline.
We urge you to carefully consider the foregoing summary together with the risks discussed under "Risk Factors" in the Annual Report, and in Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Quarterly Report.
1

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WEBSITE AND SOCIAL MEDIA DISCLOSURE
We use our website (www.taskus.com) and our social media outlets, such as Facebook, Instagram, LinkedIn, YouTube, X and TikTok as channels of distribution of Company information. The information we post through these channels may be deemed material. Financial and other important information regarding the Company is routinely posted on and accessible through the Company’s website at ir.taskus.com, its Facebook page at facebook.com/taskus/, its Instagram page at instagram.com/taskus/, its LinkedIn page at linkedin.com/company/taskus/, its YouTube account at youtube.com/@taskus, its X account at x.com/taskus and its TikTok account at tiktok.com/@taskusph. Accordingly, investors should monitor these channels, in addition to following our press releases, SEC filings and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about the Company when you enroll your email address by visiting the “Shareholder Resources—Email Alerts” section of our investor relations website at ir.taskus.com. The contents of our website and social media channels are not, however, a part of this Quarterly Report.
2

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PART I — FINANCIAL INFORMATION

Item 1. Financial Statements

TASKUS, INC.
Unaudited Condensed Consolidated Balance Sheets
(in thousands, except share data)

June 30,
2026December 31,
2025
Assets
Current assets:
Cash and cash equivalents$180,298 $211,676 
Accounts receivable, net of allowance for credit losses of $1,008 and $911, respectively
245,360 254,053 
Income tax receivable2,386 524 
Prepaid expenses and other current assets48,090 42,994 
Total current assets476,134 509,247 
Noncurrent assets:
Property and equipment, net86,019 95,426 
Operating lease right-of-use assets51,475 53,167 
Deferred tax assets12,522 12,366 
Intangibles143,282 153,490 
Goodwill218,859 219,533 
Other noncurrent assets9,348 7,536 
Total noncurrent assets521,505 541,518 
Total assets$997,639 $1,050,765 
Liabilities and Shareholders’ Equity
Liabilities:
Current liabilities:
Accounts payable and accrued liabilities$35,856 $45,242 
Accrued payroll and employee-related liabilities67,946 64,549 
Current portion of debt23,287 21,559 
Current portion of operating lease liabilities20,152 19,284 
Current portion of income tax payable4,547 9,354 
Deferred revenue9,760 3,273 
Total current liabilities161,548 163,261 
Noncurrent liabilities:
Income tax payable10,996 9,752 
Long-term debt468,719 219,798 
Operating lease liabilities34,192 37,086 
Accrued payroll and employee-related liabilities8,045 6,575 
Deferred tax liabilities14,111 14,304 
Other noncurrent liabilities183 — 
Total noncurrent liabilities536,246 287,515 
Total liabilities697,794 450,776 
Commitments and Contingencies (See Note 9)
Shareholders’ equity:
Class A common stock, $0.01 par value. Authorized 2,500,000,000; 52,082,428 issued and 36,646,204 outstanding and 50,899,239 issued and 35,463,015 outstanding, respectively
521 509 
Class B convertible common stock, $0.01 par value. Authorized 250,000,000; 55,032,694 and 55,032,694 shares issued and outstanding, respectively
550 550 
Additional paid-in capital751,941 754,773 
Retained earnings (Accumulated deficit)(228,326)58,161 
Accumulated other comprehensive loss(35,532)(24,695)
Treasury stock, at cost. 15,436,224 and 15,436,224 shares, respectively
(189,309)(189,309)
Total shareholders’ equity299,845 599,989 
Total liabilities and shareholders’ equity$997,639 $1,050,765 

See accompanying notes to unaudited condensed consolidated financial statements.
3

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TASKUS, INC.
Unaudited Condensed Consolidated Statements of Income
(in thousands, except share and per share data)

Three months ended June 30,Six months ended June 30,
2026202520262025
Service revenue$308,855 $294,086 $615,121 $571,878 
Operating expenses:
Cost of services201,705 180,568 399,495 351,749 
Selling, general and administrative expense54,641 68,406 112,925 125,830 
Depreciation11,594 9,867 22,623 19,870 
Amortization of intangible assets5,004 4,997 10,010 9,973 
Loss (gain) on disposal of assets2,600 (114)2,549 (144)

Total operating expenses275,544 263,724 547,602 507,278 
Operating income33,311 30,362 67,519 64,600 
Other income, net(5,033)(1,327)(12,359)(1,500)
Financing expenses8,835 4,635 14,103 9,298 
Income before income taxes29,509 27,054 65,775 56,802 
Provision for income taxes7,540 7,007 19,474 15,607 
Net income$21,969 $20,047 $46,301 $41,195 
Net income per common share:
Basic$0.24 $0.22 $0.51 $0.46 
Diluted$0.24 $0.22 $0.50 $0.44 
Weighted-average number of common shares outstanding:
Basic91,620,230 89,493,215 91,206,490 89,766,782 
Diluted92,495,764 92,576,805 92,794,883 93,116,173 

See accompanying notes to unaudited condensed consolidated financial statements.
4

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TASKUS, INC.
Unaudited Condensed Consolidated Statements of Comprehensive Income
(in thousands)

Three months ended June 30,Six months ended June 30,
2026202520262025
Net income$21,969 $20,047 $46,301 $41,195 
Unrealized gain on derivative contracts, net2,984 2,773 800 8,055 
Retirement benefit reserves, net(19)(28)(52)(49)
Foreign currency translation adjustments(3,050)4,729 (11,585)7,966 
Comprehensive income$21,884 $27,521 $35,464 $57,167 

See accompanying notes to unaudited condensed consolidated financial statements.
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TASKUS, INC.
Unaudited Condensed Consolidated Statements of Shareholders’ Equity
(in thousands, except share data)

Capital stock and additional paid-in capitalAccumulated
deficitAccumulated
other
comprehensive
lossTotal
shareholders’
equity
Class A common stockClass B convertible common stockAdditional
paid-in
capitalTreasury stock
SharesAmountSharesAmountSharesAmount
Balance as of December 31, 2024
33,215,441 $332 70,032,694 $700 $726,917 $(44,114)$(25,389)13,323,977 $(161,527)$496,919 
Issuance of common stock for settlement of equity awards1,237,630 12 — — 206 — — — — 218 
Shares withheld related to net share settlement(376,750)(3)— — (5,111)— — — — (5,114)
Repurchase of common stock— — — — — — — 750,691 (10,107)(10,107)
Stock-based compensation expense— — — — 8,749 — — — — 8,749 
Net income— — — — — 21,148 — — — 21,148 
Other comprehensive income— — — — — — 8,498 — — 8,498 
Balance as of March 31, 2025
34,076,321 $341 70,032,694 $700 $730,761 $(22,966)$(16,891)14,074,668 $(171,634)$520,311 
Issuance of common stock for settlement of equity awards1,126,778 11 — — 6,898 — — — — 6,909 
Shares withheld related to net share settlement(53,350)(1)— — (822)— — — — (823)
Conversion of common stock15,000,000 150 (15,000,000)(150)— — — — — — 
Repurchase of common stock— — — — — — — 1,361,556 (17,675)(17,675)
Stock-based compensation expense— — — — 8,307 — — — — 8,307 
Net income— — — — — 20,047 — — — 20,047 
Other comprehensive income— — — — — — 7,474 — — 7,474 
Balance as of June 30, 2025
50,149,749 $501 55,032,694 $550 $745,144 $(2,919)$(9,417)15,436,224 $(189,309)$544,550 

Capital stock and additional paid-in capitalRetained earnings (Accumulated
deficit)Accumulated
other
comprehensive
lossTotal
shareholders’
equity
Class A common stockClass B convertible common stockAdditional
paid-in
capitalTreasury stock
SharesAmountSharesAmountSharesAmount
Balance as of December 31, 2025
50,899,239 $509 55,032,694 $550 $754,773 $58,161 $(24,695)15,436,224 $(189,309)$599,989 
Issuance of common stock for settlement of equity awards1,527,138 15 — — 63 — — — — 78 
Shares withheld related to net share settlement(475,988)(4)— — (4,413)— — — — (4,417)

Stock-based compensation expense— — — — 5,210 — — — — 5,210 
Reclassification of liability-portion of awards— — — — (6,687)— — — — (6,687)
Distribution of dividends ($3.65 per share)
— — — — — (332,788)— — — (332,788)
Net income— — — — — 24,332 — — — 24,332 
Other comprehensive loss— — — — — — (10,752)— — (10,752)
Balance as of March 31, 2026
51,950,389 $520 55,032,694 $550 $748,946 $(250,295)$(35,447)15,436,224 $(189,309)$274,965 
Issuance of common stock for settlement of equity awards162,664 2 — — (2)— — — — — 
Shares withheld related to net share settlement(30,625)(1)— — (190)— — — — (191)

Stock-based compensation expense— — — — 3,187 — — — — 3,187 
Net income— — — — — 21,969 — — — 21,969 
Other comprehensive loss— — — — — — (85)— — (85)
Balance as of June 30, 2026
52,082,428 $521 55,032,694 $550 $751,941 $(228,326)$(35,532)15,436,224 $(189,309)$299,845 

    
See accompanying notes to unaudited condensed consolidated financial statements.
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TASKUS, INC.
Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)
Six months ended June 30,
20262025
Cash flows from operating activities:
Net income$46,301 $41,195 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation22,613 19,870 
Amortization of intangibles10,010 9,973 
Amortization of debt financing fees1,038 298 
Loss (gain) on disposal of assets2,549 (144)
Provision for credit losses286 492 

Deferred taxes(483)(3,144)
Stock-based compensation expense10,338 17,056 
Changes in operating assets and liabilities:
Accounts receivable8,174 (31,333)
Prepaid expenses and other current assets(2,321)(6,478)
Operating lease right-of-use assets11,153 9,862 
Other noncurrent assets(403)(1,771)
Accounts payable and accrued liabilities(7,553)2,402 
Accrued payroll and employee-related liabilities(2,136)5,055 
Operating lease liabilities(11,445)(8,327)
Income tax payable(5,389)(1,357)
Deferred revenue6,492 (283)
Other noncurrent liabilities188 (81)
Net cash provided by operating activities89,412 53,285 
Cash flows from investing activities:
Purchase of property and equipment(20,707)(31,451)

Net cash used in investing activities(20,707)(31,451)
Cash flows from financing activities:

Proceeds from long-term debt500,000 — 
Payments for deferred business acquisition consideration— (150)
Payments on long-term debt(241,988)(6,750)
Payments for debt financing fees(9,468)— 

Proceeds from employee stock plans78 7,127 

Payments for taxes related to net share settlement(5,287)(5,937)
Payments for stock repurchases— (27,783)
Distribution of dividends(332,788)— 
Net cash used in financing activities(89,453)(33,493)
Decrease in cash and cash equivalents(20,748)(11,659)
Effect of exchange rate changes on cash(10,630)1,409 
Cash and cash equivalents at beginning of period211,676 192,166 
Cash and cash equivalents at end of period$180,298 $181,916 

See accompanying notes to unaudited condensed consolidated financial statements.
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TASKUS, INC.
Notes to Unaudited Condensed Consolidated Financial Statements

1. Description of Business and Organization
TaskUs, Inc. ("TaskUs," together with its subsidiaries, the "Company," "we," "us" or "our") was formed by investment funds affiliated with Blackstone Inc. (“Blackstone”) as a vehicle for the acquisition of TaskUs Holdings, Inc. ("TaskUs Holdings") on October 1, 2018 (the "Blackstone Acquisition"). Prior to the Blackstone Acquisition, TaskUs had no operations and TaskUs Holdings operated as a standalone entity. TaskUs, Inc. was incorporated in Delaware in July 2018, and is headquartered in New Braunfels, Texas.
The Company delivers outsourced digital services that power the companies shaping the future. By combining specialized human talent and intelligent technology, the Company solves complex operational challenges for global category leaders within Artificial Intelligence (“AI”), autonomous vehicles, robotics, social media, financial services, healthcare, and beyond. The Company enables its clients to elevate their customer experience, protect their platforms, and grow their brands. The Company’s global, omnichannel delivery model is focused on providing its clients three key services – Digital Customer Experience, Trust & Safety and AI Services. The Company has designed its platform to enable it to rapidly scale and benefit from its clients’ growth. Through its agile and responsive operational model, the Company delivers services from multiple delivery sites that span globally from the United States, Philippines, India and other parts of the world.
The Company’s major service offerings are described in more detail below:
•Digital Customer Experience: Principally consists of omnichannel customer care services, primarily delivered through digital (non-voice) channels. Also included in this offering are learning experience and sales and customer acquisition services.
•Trust & Safety: Principally consists of monitoring, reviewing and managing user and advertiser-generated content on online platforms to ensure it complies with community guidelines, legal regulations and platform specific policies. Also included in this offering are our services for risk management, compliance, identity management and fraud.
•AI Services: Principally consists of large language model support and high-quality data labeling services, annotation, context relevance and transcription services performed for the purpose of training and tuning machine learning algorithms, enabling them to develop cutting-edge AI systems.

2. Summary of Significant Accounting Policies
(a) Basis of Presentation
The accounting and reporting policies of the Company are in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). Our Annual Report on Form 10-K for the year ended December 31, 2025 (the "Annual Report"), as filed with the Securities and Exchange Commission (the "SEC"), includes a discussion of the significant accounting policies used in the preparation of our consolidated financial statements. There have been no changes to the Company’s significant accounting policies described in the Annual Report that have had a material impact on the Company’s condensed consolidated financial statements and related notes. 
These unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with US GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2025 included in the Annual Report. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments,