Here are two brief analogies to describe TaskUs (TASK):

1. Imagine a company that provides a full, outsourced customer experience and content moderation team for digital businesses, similar to how companies rely on Stripe for payment processing or AWS for cloud infrastructure.

2. Think of it as the premium, digital-first version of a traditional call center provider like Teleperformance, specifically built for high-growth tech companies.

• Digital Customer Experience (CX): Provides omnichannel customer support, technical assistance, and sales support to enhance customer interactions for brands.
• Content Security & Moderation: Offers services for reviewing and moderating user-generated content, enforcing platform policies, and ensuring online safety and brand integrity.
• Artificial Intelligence (AI) Operations: Delivers specialized services like data annotation, data labeling, and model training to support the development and refinement of AI and machine learning systems.
• Back Office Support: Furnishes operational support services including fraud prevention, payment processing, and administrative tasks to optimize backend business processes.

TaskUs (symbol: TASK) primarily sells its services to other companies (Business-to-Business or B2B).

While TaskUs serves a diverse range of leading global brands, it does not publicly disclose the names of its individual major customers. This is common practice in the Business Process Outsourcing (BPO) industry due to client confidentiality agreements. Furthermore, as per its latest SEC filings (e.g., 2023 10-K), no single customer accounted for 10% or more of its total revenue, meaning there is no legal requirement to name a specific "major" customer in that context.

However, TaskUs publicly targets and serves companies in the "new economy" and "digital-first" sectors. Its customer base generally falls into the following categories:

• High-Growth Technology & Social Media Companies: This includes platforms in social media, streaming, Software-as-a-Service (SaaS), and online marketplaces that require extensive support for content moderation, technical assistance, and user engagement.
• Fintech & Digital Financial Services: Emerging and established companies in digital banking, payments, cryptocurrency, and lending that need specialized customer support familiar with complex financial products and regulatory environments.
• On-Demand & Gig Economy Platforms: Businesses operating in sectors like ride-sharing, food delivery, and other service-on-demand models that require scalable and efficient customer support to manage high volumes of interactions from both users and service providers.
• Gaming & Entertainment: Online gaming companies and other digital entertainment platforms often utilize TaskUs for technical support, community management, and content review.

Bryce Maddock, Chief Executive Officer, Co-Founder and Chairperson

Bryce Maddock co-founded TaskUs in 2008. Prior to TaskUs, he was a Partner at Smarter Social Media and a co-founder of MW Entertainment. He also co-founded other companies with Jaspar Weir, including an events production business (Club Access, an all-age nightclub in Los Angeles) and a social media marketing agency. Post-college, he began his professional career as an investment banking analyst on Wall Street. TaskUs received early funding from Navegar, a private equity fund, and The Blackstone Group invested $250 million in 2018.

Jaspar Weir, President & Co-Founder

Jaspar Weir co-founded TaskUs in 2008 with Bryce Maddock. Before TaskUs, he was a Partner at Smarter Social Media and a co-founder of MW Entertainment. He also co-founded two other companies with Bryce Maddock, including a social media marketing agency and an events production business that produced an all-age nightclub in Los Angeles.

Balaji Sekar, Chief Financial Officer

Balaji Sekar has served as TaskUs' Chief Financial Officer since August 2016. He brings over 20 years of finance and accounting experience across three continents. Prior to joining TaskUs, he held the position of Chief Financial Officer of PatientSafe Solutions from August 2015 to July 2016. He also served as Chief Financial Officer of Sutherland Healthcare Solutions from July 2013 to July 2015 and held other senior-level positions at Sutherland Global Services.

Stephan Daoust, Chief Operating Officer

Stephan Daoust is the Chief Operating Officer for TaskUs, responsible for the global delivery of operations and service delivery functions across multiple countries. Before joining TaskUs, he was the Senior Vice President & Country Leader for Operations & Delivery at Concentrix Philippines, where he was responsible for the management of 45 operating sites and 90,000 staff. Throughout his career, he has supported multiple regions globally, including a large US telco as Global Vice President and serving as Vice President of the Northern Region of EMEA.

Jarrod Johnson, Chief Customer Officer

Jarrod Johnson serves as the Chief Customer Officer of TaskUs. Previously, he held the position of Senior Vice President, Business Development at FacilitySource, a facility management company, from 2014 to August 2016. From 2008 to 2014, he was Senior Vice President and Group President at Xerox Business Services (formerly Affiliated Computer Services). He also held multiple positions over 10 years at IBM Corporation from 1999 to 2008.

The key risks to TaskUs's business include the potential for AI disruption, significant client concentration, and ongoing legal and reputational challenges.

1. AI Disruption and Cannibalization Risk: While TaskUs's AI Services segment is its fastest-growing area, the same generative AI technology that the company sells to clients could automate many of the core customer experience (CX) and content moderation services that currently form a substantial portion of its revenue. This could lead to short-term revenue headwinds as AI potentially reduces the demand for traditional outsourcing services.
2. Client Concentration Risk: TaskUs is heavily reliant on a few key clients. In the first quarter of 2025, the company generated 26% of its service revenue from its largest client, an increase from 19% in the first quarter of 2024. This high concentration exposes TaskUs to significant risk if this major client experiences financial difficulties, alters its outsourcing strategy, or decides to insource services.
3. Legal and Reputational Risks: TaskUs faces multiple legal and reputational challenges. These include a $3 million lawsuit from AI founders alleging breach of contract and unpaid bonuses related to an acquisition, and a class-action complaint filed in May 2025 regarding a data breach at a major client, accusing TaskUs of failing to safeguard customer information. Additionally, the company recently agreed to a $17.5 million settlement in a securities class action lawsuit that alleged false and misleading statements about employee attrition rates and workplace culture in its IPO and secondary offering. Furthermore, shareholders rejected a plan for the company to go private, indicating investor scrutiny over valuation fairness and transparency.

The rapid advancement and adoption of artificial intelligence and automation technologies.

TaskUs primarily offers human-powered services such as digital customer experience, content moderation, and AI operations for fast-growing tech companies. As AI capabilities (particularly generative AI and large language models) continue to evolve rapidly, there is an increasing potential for these technologies to perform many of the tasks currently handled by human agents with greater efficiency and lower cost. This could significantly reduce the demand for TaskUs' core services, fundamentally challenging their business model which relies on providing skilled human talent for complex tasks that are becoming increasingly automatable.

The addressable markets for TaskUs's main products and services are as follows:

• Digital Customer Experience: The global customer care outsourcing services market was estimated at $77 billion in 2020. This market is projected to grow, with the global customer experience (CX) outsourcing services market valued at USD 78.92 billion in 2023 and expected to reach USD 114.29 billion by 2032, growing at a CAGR of 4.2% from 2025 to 2032.
• Content Moderation: The global content moderation services market was valued at USD 10.01 billion in 2023 and is expected to reach USD 30.75 billion by 2032, growing at a CAGR of 13.33% from 2024-2032. North America held a significant share of this market, with the U.S. content moderation services market valued at USD 2.83 billion in 2023 and projected to reach USD 8.65 billion by 2032.
• AI Operations: The global Artificial Intelligence (AI) Implementation and Operations Services Market size was valued at USD 114.0 billion in 2023 and is predicted to reach USD 385.2 billion by 2030, with a CAGR of 18.9% from 2024-2030.

Expected drivers of future revenue growth for TaskUs (TASK) over the next 2-3 years include:

• Expansion and Investment in AI Services: TaskUs has consistently highlighted its AI services as a significant growth driver, with over 60% year-over-year growth in this segment in Q3 2025. The company plans to increase investments in generative AI-led transformation services to support clients in adapting to the AI era.
• Client Growth and Deepening Existing Relationships: The company's revenue growth is driven by stronger-than-expected volumes with both existing and new clients. TaskUs focuses on deepening relationships with its current client base and expanding its client portfolio within high-growth industry verticals.
• Cross-selling Specialized Services: TaskUs aims to grow revenue by cross-selling its specialized service offerings, which is one of its core strategic growth levers.
• Geographic and Market Expansion: TaskUs intends to expand its operations into new countries and industries, targeting high-growth sectors and diversifying its client base to reduce concentration risk. This includes a strategic focus on key markets such as Latin America and Europe.
• Capturing Market Share from Competitors: A stated strategic growth lever for TaskUs is taking market share from competitors, particularly as some rivals have faced challenges.

Share Repurchases

• TaskUs authorized a share repurchase program in September 2022 for up to $100 million of its Class A common stock.
• This program was increased by an additional $100 million in May 2023, bringing the total authorization to $200 million.
• The program was extended through December 31, 2025, with approximately $39.6 million remaining available for repurchases as of December 2024.

Share Issuance

• TaskUs completed its Initial Public Offering (IPO) in 2021, which raised approximately $280.5 million.
• Shares outstanding remained relatively stable, with weighted average diluted shares at approximately 90 million.
• In a recent period, the issuance of common stock for the settlement of equity awards amounted to approximately $6.2 million.

Inbound Investments

• In May 2025, TaskUs agreed to be acquired by an affiliate of Blackstone and its co-founders in a deal worth $16.50 per share, transitioning the company to private ownership.

Outbound Investments

• In 2020, TaskUs acquired Simple Machines, a data science and AI company, to enhance its technology capabilities.

Capital Expenditures

• Capital expenditures for the year ended December 31, 2024, were $25 million.
• The company's investments in Property, Plant & Equipment increased, supporting future growth and operational capacity expansion, with Q4 2024 investments at $20.28 million compared to $7.85 million in Q3 2023.
• TaskUs continues to invest in technology, infrastructure, AI services, and security infrastructure.