TaskUs (TASK) 10-Q 11 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Aug. 05, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Entity Registrant Name	TaskUs, Inc.
Entity Central Index Key	0001829864
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Interactive Data Current	Yes
Entity Current Reporting Status	No
Entity Incorporation, State or Country Code	DE
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Tax Identification Number	83-1586636
Entity Address, City or Town	New Braunfels
Entity Address, Address Line One	1650 Independence Drive,
Entity Address, Address Line Two	Suite 100
City Area Code	888
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78132
Local Phone Number	400-8275
Entity File Number	001-40482
Trading Symbol	TASK
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		15,180,000
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		82,110,174

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash	$ 195,927	$ 107,728
Accounts receivable, net of allowance for doubtful accounts of $2,691 and $2,294, respectively	127,867	87,782
Other receivables	439	105
Prepaid expenses	9,667	13,032
Income Taxes Receivable		1,606
Other current assets	2,471	1,051
Total current assets	336,371	211,304
Noncurrent assets:
Property and equipment, net	63,060	56,957
Deferred tax assets	575	585
Intangibles	230,871	240,295
Goodwill	195,735	195,735
Other noncurrent assets	3,006	2,630
Total noncurrent assets	493,247	496,202
Total assets	829,618	707,506
Current liabilities:
Accounts payable and accrued liabilities	43,494	41,935
Accrued payroll and employee-related liabilities	171,690	21,994
Current portion of debt	48,510	45,984
Current portion of income tax payable	1,586
Deferred revenue	5,810	4,711
Deferred Rent	303	218
Total current liabilities	271,393	114,842
Noncurrent liabilities:
Income tax payable	2,988	2,988
Long-term debt	193,525	198,768
Deferred rent	2,573	2,194
Accrued payroll and employee-related liabilities	2,640	2,641
Deferred tax liabilities	40,474	50,936
Total noncurrent liabilities	242,200	257,527
Total liabilities	513,593	372,369
Commitments and Contingencies
Shareholders' equity:
Additional Paid - in Capital	519,817	398,202
Accumulated deficit	(206,834)	(67,398)
Accumulated other comprehensive income	2,069	3,416
Total shareholders' equity	316,025	335,137
Total liabilities and shareholders' equity	829,618	707,506
Common Class A [Member]
Shareholders' equity:
Common Stock, Value, Issued	152
Total shareholders' equity	152
Class B Convertible Common Stock [Member]
Shareholders' equity:
Common Stock, Value, Issued	$ 821	$ 917

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accounts receivable, net of allowance for doubtful accounts	$ 2,691	$ 2,294
Common Class A [Member]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	2,500,000,000
Common Stock, Shares, Issued	15,180,000	0
Common Stock, Shares, Outstanding	15,180,000	0
Class B Convertible Common Stock [Member]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	250,000,000
Common Stock, Shares, Issued	82,110,174	91,737,020
Common Stock, Shares, Outstanding	82,110,174	91,737,020

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Service revenue	$ 180,022	$ 114,400	$ 332,893	$ 216,829
Operating Expenses [Abstract]
Cost of services	103,798	64,135	191,828	125,918
Selling, general, and administrative expense	177,810	25,709	209,308	51,440
Depreciation	6,729	5,815	12,932	10,529
Amortization of intangible assets	4,712	4,712	9,424	9,424
Loss (gain) on disposal of assets	1		28	(5)
Contingent consideration		3,570		3,570
Total operating expenses	293,050	103,941	423,520	200,876
Operating (loss) income	(113,028)	10,459	(90,627)	15,953
Other (income) expense	(1,659)	(1,137)	(905)	260
Financing expenses	1,594	1,959	3,175	4,202
(Loss) income before taxes	(112,963)	9,637	(92,897)	11,491
(Benefit from) provision for income taxes	(7,020)	1,629	(3,461)	1,968
Net (loss) income	$ (105,943)	$ 8,008	$ (89,436)	$ 9,523
Net (loss) income per common share, basic and diluted	$ (1.14)	$ 0.09	$ (0.97)	$ 0.10
Weighted-average number of common shares outstanding, basic and diluted	92,957,493	91,737,020	92,347,257	91,737,020

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (105,943)	$ 8,008	$ (89,436)	$ 9,523
Retirement benefit reserves	(3)	3	(8)	2
Foreign currency translation adjustments	(489)	1,230	(1,339)	1,007
Comprehensive (loss) income	$ (106,435)	$ 9,241	$ (90,783)	$ 10,532

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Class A Common stock [Member]	Class B Common stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated other comprehensive income [Member]
Beginning Balance at Dec. 31, 2019	$ 297,500		$ 917	$ 398,202	$ (101,931)	$ 312
Beginning Balance, shares at Dec. 31, 2019			91,737,020
Statement Of Changes In Equity [Line Items]
Net income (loss)	1,515				1,515
Other comprehensive income (Loss)	(224)					(224)
Ending balance at Mar. 31, 2020	298,791		$ 917	398,202	(100,416)	88
Ending balance, shares at Mar. 31, 2020			91,737,020
Beginning Balance at Dec. 31, 2019	297,500		$ 917	398,202	(101,931)	312
Beginning Balance, shares at Dec. 31, 2019			91,737,020
Statement Of Changes In Equity [Line Items]
Net income (loss)	9,523
Ending balance at Jun. 30, 2020	308,032		$ 917	398,202	(92,408)	1,321
Ending balance, shares at Jun. 30, 2020			91,737,020
Beginning Balance at Mar. 31, 2020	298,791		$ 917	398,202	(100,416)	88
Beginning Balance, shares at Mar. 31, 2020			91,737,020
Statement Of Changes In Equity [Line Items]
Net income (loss)	8,008				8,008
Other comprehensive income (Loss)	1,233					1,233
Ending balance at Jun. 30, 2020	308,032		$ 917	398,202	(92,408)	1,321
Ending balance, shares at Jun. 30, 2020			91,737,020
Beginning Balance at Dec. 31, 2020	335,137		$ 917	398,202	(67,398)	3,416
Beginning Balance, shares at Dec. 31, 2020			91,737,020
Statement Of Changes In Equity [Line Items]
Net income (loss)	16,507				16,507
Other comprehensive income (Loss)	(855)					(855)
Ending balance at Mar. 31, 2021	350,789		$ 917	398,202	(50,891)	2,561
Ending balance, shares at Mar. 31, 2021			91,737,020
Beginning Balance at Dec. 31, 2020	335,137		$ 917	398,202	(67,398)	3,416
Beginning Balance, shares at Dec. 31, 2020			91,737,020
Statement Of Changes In Equity [Line Items]
Net income (loss)	(89,436)
Ending balance at Jun. 30, 2021	316,025	$ 152	$ 821	519,817	(206,834)	2,069
Ending balance, shares at Jun. 30, 2021		15,180,000	82,110,174
Beginning Balance at Mar. 31, 2021	350,789		$ 917	398,202	(50,891)	2,561
Beginning Balance, shares at Mar. 31, 2021			91,737,020
Statement Of Changes In Equity [Line Items]
Issuance on Class A Common stock in the initial public offering primary offering, net of underwriters' fees and offering costs	115,900	$ 56		115,844
Issuance on Class A Common stock in the initial public offering primary offering, net of underwriters' fees and offering costs, shares		5,553,154
Conversion of Class B Common stock		$ 96	$ (96)
Conversion of Class B Common stock, shares		9,626,846	(9,626,846)
Stock-based compensation expense	5,771			5,771
Distribution of dividends ($0.55 per share)	(50,000)				(50,000)
Net income (loss)	(105,943)				(105,943)
Other comprehensive income (Loss)	(492)					(492)
Ending balance at Jun. 30, 2021	$ 316,025	$ 152	$ 821	$ 519,817	$ (206,834)	$ 2,069
Ending balance, shares at Jun. 30, 2021		15,180,000	82,110,174

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - (Parenthetical)	3 Months Ended
	Jun. 30, 2021$ / shares
Statement of Stockholders' Equity [Abstract]
Dividends, Per Share	$ 0.55

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net (loss) income	$ (89,436)	$ 9,523
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation	12,932	10,510
Amortization of Intangibles	9,424	9,424
Amortization of debt financing fees	247	228
Loss (gain) on disposal of assets	28	(5)
Provision for losses on accounts receivable	465	1,297
Unrealized foreign exchange losses for forward contracts	1,730	178
Deferred taxes	(10,462)	(2,157)
Stock-based compensation expense	5,771
Changes in operating assets and liabilities:
Accounts receivables	(41,195)	(22,007)
Other receivables, prepaid expenses, and other current assets	(4,398)	(430)
Other noncurrent assets	(415)	(343)
Accounts payable and accrued liabilities	5,537	7,976
Accrued payroll and employee-related liabilities	150,543	4,003
Income tax payable	3,304	2,896
Deferred revenue	1,100	970
Deferred rent	502	540
Net cash provided by operating activities	45,677	22,603
Cash flows from investing activities:
Purchase of property and equipment	(23,453)	(18,815)
Net cash used in investing activities	(23,453)	(18,815)
Cash flows from financing activities:
Proceeds from borrowing, Revolving credit facility		39,878
Payments on long-term debt	(2,625)	(525)
Payments for debt financing fees	(340)
Issuance of common stock, net of underwriters' fees	120,698
Distribution of dividends	(50,000)
Net cash provided by financing activities	67,733	39,353
Increase in cash and cash equivalents	89,957	43,141
Effect of exchange rate changes on cash	(1,758)	1,429
Cash and cash equivalents at beginning of period	107,728	37,541
Cash and cash equivalents at end of period	$ 195,927	$ 82,111

Description of Business and Org

Description of Business and Organization	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Organization	(1) Description of Business and Organization TaskUs, Inc. (formerly known as TU TopCo, Inc.) (“TaskUs” and, together with its subsidiaries, the “Company,” “we,” “us” or “our”) was formed by investment funds affiliated with The Blackstone Group Inc. (formerly known as The Blackstone Group L.P.) (“Blackstone”) as a vehicle for the acquisition of TaskUs Holdings, Inc. (formerly known as TaskUs, 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. In connection with the Company’s June 2021 initial public offering (“IPO”), on June 10, 2021, the Company amended and restated its certificate of incorporation to effect ten -for-one We are a digital outsourcer focused on serving high-growth technology companies to represent, protect and grow their brands. Our global, omni-channel delivery model is focused on Digital Customer Experience, Content Security and artificial intelligence (“AI”) The Company’s major service offerings are described in more detail below: • Digital Customer Experience (non-voice) • Content Security • AI Operation

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(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 prospectus dated June 10, 2021 (the “prospectus”), as filed with the Securities and Exchange Commission (the “SEC”) on June 14, 2021, includes a discussion of the significant accounting policies used in the preparation of our consolidated financial statements. There were no material changes to our significant accounting policies during the six months ended June 30, 2021. 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. The accompanying financial statements and related notes to the financial statements give retroactive effect to the stock split for all periods presented. See Note 11, “ Shareholders’ Equity” for additional information. (b) Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the determination of useful lives and impairment of fixed assets; allowances for doubtful accounts and other receivables; the valuation of deferred tax assets; valuation of forward contracts receivable; valuation of equity based compensation; valuation and impairment of intangibles and goodwill and reserves for income tax uncertainties and other contingencies. As of June 30, 2021, the impact of the novel coronavirus (“COVID-19”) (c) Principles of consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company has no involvement with variable interest entities. (d) Concentration Risk Most of the Company’s customers are located in the United States. Customers outside of the United States are concentrated in Europe and Canada. For the three and six months ended June 30, 2021 and 2020, the following customers represented greater than 10% of the Company’s service revenue: Service revenue percentage Three months ended June 30, Six months ended June 30, Customer 2021 2020 2021 2020 A 27 % 33 % 28 % 32 % B 12 % 16 % 12 % 14 % As of June 30, 2021 and December 31, 2020, the following customers represented greater than 10% of the Company’s accounts receivable: Accounts receivable percentage Customer June 30, 2021 December 31, 2020 A 14 % 22 % B 16 % 16 % The Company’s principal operations, including the majority of its employees and the fixed assets owned by its wholly owned subsidiaries, are located in the Philippines. (e) Recent Accounting Pronouncements The Company currently qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Accordingly, the Company is provided the option to adopt new or revised accounting guidance either (i) within the same periods as those otherwise applicable to non-emerging Recently adopted accounting pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2019-12, 2019-12 Recently issued accounting pronouncements In February 2016, the FASB issued ASU 2016-02, 2016-02 In June 2016, the FASB issued ASU 2016-13, 2016-13

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	(3) Revenue Disaggregation of Revenue Our revenues are derived from contracts with customers related to business outsourcing services that we provide. The following table presents the breakdown of the Company’s revenues by service offering: Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Digital Customer Experience $ 113,566 $ 71,345 $ 213,277 $ 136,562 Content Security 42,995 31,076 79,122 57,614 AI Operations 23,461 11,979 40,494 22,653 Service Revenue $ 180,022 $ 114,400 $ 332,893 $ 216,829 The majority of the Company’s revenues are derived from contracts with customers who are located in the United States. However, we deliver our services from geographies outside of the United States. The following table presents the breakdown of the Company’s revenues by geographical location, based on where the services are provided from: Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Philippines $ 95,681 $ 62,842 $ 180,259 $ 118,716 United States 58,930 43,429 109,687 84,074 Rest of World 25,411 8,129 42,947 14,039 Service Revenue $ 180,022 $ 114,400 $ 332,893 $ 216,829 Contract Balances Accounts receivable, net of allowances includes $71.7 million and $47.4 million of unbilled revenues as of June 30, 2021 and December 31, 2020, respectively.

Forward Contract Receivable

Forward Contract Receivable	6 Months Ended
	Jun. 30, 2021
Derivative Instrument Detail [Abstract]
Forward Contract Receivable	(4) Forward Contract Receivable The Company transacts business in various foreign currencies and has international sales and expenses denominated in foreign currencies, subjecting the Company to foreign currency exchange rate risk. During 2021 and 2020, the Company entered into foreign currency exchange rate forward contracts, with a commercial bank as the counterparty, with maturities of generally 12 months or less, to reduce the volatility of cash flows primarily related to forecasted costs denominated in Philippine pesos. In addition, the Company utilizes foreign currency exchange rate contracts to mitigate foreign currency exchange rate risk associated with foreign currency-denominated assets and liabilities, primarily intercompany balances. The Company does not use foreign currency exchange rate contracts for trading purposes. The exchange rate forward contracts entered into by the Company are not designated as hedging instruments. Any gains or losses resulting from changes in the fair value of these contracts are recognized in other (income) expense in the consolidated statements of operations. For the three months ended June 30, 2021 and 2020 the Company settled forward contracts with total notional amounts of approximately $22.8 million, and $18.0 million, respectively and for the six months ended June 30, 2021 and 2020 the Company settled forward contracts with total notional amounts of approximately $45.6 million, and $36.0 million, respectively. For the three months ended June 30, 2021 and 2020, For the six months ended June 30, 2021 As of June 30, 2021 and December 31, 2020, the Company had outstanding forward contracts with notional amounts of approximately $116.6 million and $109.2 million, respectively. The forward contract receivable resulting from change in fair value was recorded under other current assets. For the three months ended June 30, 2021 and 2020, the unrealized gains on the forward contracts of $0.1 million and $1.3 million, respectively, were included within other (income) expense. For the six months ended June 30, 2021 and 2020, the unrealized losses on the forward contracts of $1.7 million and $0.2 million, respectively, were included within other (income) expense. By entering into derivative contracts, the Company is exposed to counterparty credit risk, or the failure of the counterparty to perform under the terms of the derivative contract. For the periods presented, the non-performance The Company has implemented the fair value accounting standard for those assets that are re-measured In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset and include situations where there is little, if any, market activity for the asset. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair value measurements using June 30, 2021 Level 1 inputs Level 2 inputs Level 3 inputs (in thousands) Forward contract receivable $ 50 $ — $ 50 $ — Fair value measurements using December 31, 2020 Level 1 inputs Level 2 inputs Level 3 inputs (in thousands) Forward contract receivable $ 1,780 $ — $ 1,780 $ — The Company’s derivatives are carried at fair value using various pricing models that incorporate observable market inputs, such as interest rate yield curves and currency rates, which are Level 2 inputs. Derivative valuations incorporate credit risk adjustments that are necessary to reflect the probability of default by the counterparty or by the Company.

Property and Equipment, net

Property and Equipment, net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, net	(5) Property and Equipment, net The components of Property and equipment, net at June 30, 2021 and December 31, 2020 were as follows: June 30, December 31, (in thousands) Leasehold improvements $ 30,972 $ 31,654 Technology and computers 62,678 47,572 Furniture and fixtures 4,023 4,203 Construction in process 8,724 5,194 Other property and equipment 6,309 5,995 Property and equipment, gross 112,706 94,618 Accumulated depreciation (49,646 ) (37,661 ) Property and equipment, net $ 63,060 $ 56,957 The Company’s principal operations are in the Philippines where the majority of property and equipment resides under its wholly owned subsidiaries. The table below presents the Company’s total property and equipment by the geographic location as of June 30, 2021 and December 31, 2020: June 30, December 31, (in thousands) Philippines $ 39,825 $ 37,823 United States 10,019 8,983 Rest of World 13,216 10,151 Total Property and equipment, net $ 63,060 $ 56,957

Goodwill and Intangibles

Goodwill and Intangibles	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	(6) Goodwill and Intangibles The carrying amount of goodwill as of June 30, 2021 and December 31, 2020 was $195.7 million. Intangible assets consisted of the following as of June 30, 2021 and December 31, 2020: Intangibles, Life Accumulated Intangibles, (in thousands) Customer relationships $ 240,800 15 $ (44,148 ) $ 196,652 Trade name 41,900 15 (7,681 ) 34,219 Balance as of June 30, 2021 $ 282,700 $ (51,829 ) $ 230,871 Intangibles, Life Accumulated Intangibles, (in thousands) Customer relationships $ 240,800 15 $ (36,121 ) $ 204,679 Trade name 41,900 15 (6,284 ) 35,616 Balance as of December 31, 2020 $ 282,700 $ (42,405 ) $ 240,295

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	(7) Long-Term Debt The balances of current and non-current (in thousands) Current Noncurrent Total Term Loan $ 9,188 $ 194,775 $ 203,963 Revolver 39,878 — 39,878 Less: Debt financing fees (556 ) (1,250 ) (1,806 ) Total $ 48,510 $ 193,525 $ 242,035 2019 Credit Agreement On September 25, 2019, the Company entered into a credit agreement (the “2019 Credit Agreement”) that included a million term loan (the “Term Loan Facility”) and a million revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “2019 Credit Facilities”). On April 30, 2021, the Company entered into Amendment No. 1 to our 2019 Credit Agreement with the existing lenders providing for facility. We accounted for this amendment as a debt modification and recorded $0.3 million of debt financing fees which will be amortized, along with previously deferred fees, over the remaining term of the Revolving Credit Facility. Principal payments on the Term Loan Facility are due quarterly in arrears the Term Loan Facility as The Revolving Credit Facility provides the Company with access to a million swing line facility, each of which, to the extent used, reduces borrowing availability under the Revolving Credit Facility. The Revolving Credit Facility expires , and requires a commitment fee of on undrawn commitments paid in arrears. As of June 30, 2021, the interest rate in effect was 2.345% on outstanding borrowings under the Revolving Credit Facility. As of June 30, 2021, we had $50.1 million of borrowing availability under the Revolving Credit Facility. The 2019 Credit Agreement contains certain restrictive financial covenants and also limits additional borrowings, capital expenditures, and distributions. The Company was in compliance with these covenants as of June 30, 2021. Substantially all assets of TU Midco, Inc. and its material domestic subsidiaries are pledged as collateral under this agreement, subject to certain customary exceptions.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(8) Commitments and Contingencies (a) Legal Proceedings From time to time, the Company may become subject to legal proceedings, claims, and litigation arising in the ordinary course of business. The Company is not currently a party to any material legal proceedings, nor is the Company aware of any pending or threatened litigation that would have a material adverse effect on the Company’s business, operating results, cash flows, or financial condition should such litigation be resolved unfavorably. (b) Contingent Consideratio On October 1, 2018, Bidco acquired 100% of the outstanding shares of TaskUs Holdings, Inc. at a purchase price of $429.4 million (the “Transaction”). As a part of the Transaction, the Company entered into a Stock Purchase Agreement, which provides that the sellers of TaskUs, Inc. are entitled to receive cash payments for certain tax benefits, if any, realized as a result of the Blackstone Acquisition that are received by the Company for a specified period after the closing date. The Company recorded a liability of $3.6 million for the expected payment to the sellers, which is included within accounts payable and accrued liabilities in the condensed consolidated balance sheets as of June 30, 2021 and December 31, 2020. The Company received payment for the tax benefits in the six months ended June 30, 2021.

Employee Compensation

Employee Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Employee Compensation	(9) Employee Compensation Phantom Stock Plan On June 19, 2015, TaskUs Holdings’ board of directors officially adopted a companywide phantom stock plan and related phantom share agreements. The number of outstanding phantom shares at June 30, 2021 and December 31, 2020 were 511,489 and 651,436, respectively. There were 139,947 phantom shares forfeited during the six months ended June 30, 2021. Because the change in control became probable upon the IPO, the Company recognized expense in the amount of the expected cash totaling million recorded in selling, general, and administrative expense on the condensed consolidated statements of operations for the three and six months ended June 30, 2021. The associated liability was recorded in accrued payroll and employee-related liabilities on the condensed consolidated balance sheets as of June 30, 2021. Pursuant to the terms of the plan, payment to the phantom shareholders in settlement of their vested phantom shares must occur within 30 days following the close of the IPO, or no later than July 15, 2021, at which point there will be phantom shares outstanding. 2019 Stock Incentive Plan On April 16, 2019, the Company established an equity incentive plan pursuant to which the Company has granted option awards to selected executives and other key employees (the “2019 Plan”). (the “2021 Plan”) that any additional awards will be issued under the 2019 Plan. At the date of the IPO, the Company concluded that the public offering represents a qualifying liquidity event that would cause the stock option’s performance condition to be probable of occurring. As such, the Company has begun to recognize compensation expense in relation to the stock options. 2021 Omnibus Incentive Plan In connection with the IPO, the Company adopted the 2021 Plan, non-qualified Stock Options On June 10, 2021, the Company granted 1,565,398 of stock options to its founders and certain officers and employees with a weighted-average grant date fair value of $8.15. The stock options issued to such officers and employees (including founders) generally vest quarterly or annually over four years and expire ten years from the date of the grant. The grant date fair value of the stock options was Dividend yield (%) 0.0 % Expected volatility (%) 35 % Risk-free interest rate (%) 0.8-1.1 % Expected term (years) 5.1-7.0 As of June 30, 2021, there were 9,139,456 options outstanding with a weighted-average exercise price of $8.23 per share. As of June 30, 2021, there was $17.3 million of unrecognized compensation expense related to the Company’s unvested stock options that is expected to be recognized over a weighted-average period of 2.3 years. RSUs On June 10, 2021, the Company granted 2,528,621 RSUs to As of June 30, 2021, there was $55.6 million of unrecognized compensation expense related to the Company’s unvested RSUs that is expected to be recognized over a weighted-average period of 2.2 years. PSUs On June 10, 2021, the Company granted 3,307,060 of PSUs to its founders with a weighted-average grant date fair value of $3.98. The PSUs contain three tranches and service and market conditions. The PSUs vest contingently in annual installments over four years. The amount of PSUs eligible for vesting is contingent upon the achievement of certain enterprise value CAGR targets. The Company will recognize the related stock-based compensation expense using a graded vesting method. The grant date fair value of the PSUs were estimated using the Monte Carlo simulation method with the following assumptions: Dividend yield (%) 0 % Expected volatility (%) 40 % Risk-free interest rate (%) 0.1-0.5 % As of June 30, 2021, there was $12.8 million of unrecognized compensation expense related to the Company’s unvested PSUs that is expected to be recognized over a weighted-average period of 2.8 years. The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed c o Three months ended Six months ended 2021 2020 2021 2020 (in thousands) Cost of services $ 51 $ — $ 51 $ — Selling, general , 133,216 — 133,216 — Total $ 133,267 $ — $ 133,267 $ —

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	(10) Income Taxes In determining its interim provision for income taxes, the Company used an estimated annual effective tax rate, which is based on expected income before taxes, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the period in which they occur and can be a source of variability in the effective tax rate from quarter to quarter. The Company recorded (benefit from) provision for income taxes of $ The effective tax rate was 6.2% and 16.9% for the three months ended June 30, 2021 and 2020, respectively. The Company recorded (benefit from) provision for income taxes t The Company is subject to income tax in the United States federal, state and various foreign jurisdictions. Federal income tax returns of the Company are subject to IRS examination for the 2017 through 2019 tax years. State income tax returns are subject to examination for the 2016 through 2019 tax years. The Company’s practice and intention are to indefinitely reinvest the earnings of its non-U.S.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Shareholders' Equity	(11) Shareholders’ Equity Dividend Distribution On April 9, 2021, prior to the IPO, the board of directors declared a cash dividend in the aggregate amount of $50.0 million to holders of our common stock. The cash dividend was paid on April 16, 2021. Amendment and Restatement of Certificate of Incorporation On June 10, 2021, the Company amended and restated its certificate of incorporation to effect a ten-for-one (i) 250,000,000 shares of Preferred Stock, par value $0.01 per share, (ii) 2,500,000,000 shares of Class A common stock, par value $0.01 per share, and (iii) 250,000,000 shares of Class B common stock, par value $0.01 per share. After giving effect to the ten-for-one The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting, transfer and conversion rights. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible into one share of Class A common stock at any time or automatically upon certain conditions but no later than 7 years following the filing and effectiveness of the amendment on June 10, 2021. Initial Public Offering On June 15, 2021, the Company closed its IPO of 5,553,154 shares of Class A common stock (the “primary” offering) and selling stockholders sold 9,626,846 shares (the “secondary” offering), including shares sold by the selling stockholders pursuant to the underwriters’ full exercise of their option to purchase additional shares, at a public offering price of per share. The Company received net proceeds of million after deducting underwriting discounts and commissions, but before deducting offering expenses. The Company used the proceeds from the primary offering, together with cash on hand, to satisfy payments of approximately million in respect of vested phantom shares in the third quarter of 2021.

(Loss) Earnings Per Share

(Loss) Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
(Loss) Earnings Per Share	(12) (Loss) Earnings Per Share Following the effectiveness of the amended and restated certificate of incorporation, the Class B Reclassification and the IPO, the Company has Class A common stock and Class B common stock outstanding. Because the only difference between the two classes of common stock are related to voting, transfer and conversion rights, the Company has not presented earnings per share under the two-class The computation of basic net (loss) income per share (“EPS”) is based on the weighted-average number of shares that were outstanding during the period, including shares of common stock that are issuable at the end of the reporting period. The computation of diluted EPS is based on the number of basic weighted-average shares outstanding plus the number of common shares that would be issued assuming the exercise of all potentially dilutive common stock equivalents. Common stock equivalents consist of shares issuable upon the exercise of stock options and vesting of RSUs and PSUs. The following table summarizes the computation of basic and diluted EPS for the three and six months ended June 30, 2021 and 2020: Three months ended June 30, Six months ended June 30, (in thousands, except share and per share data 2021 2020 2021 2020 Numerator: Net (loss) income Available to Common Shareholders $ (105,943 ) $ 8,008 $ (89,436 ) $ 9,523 Denominator: Weighted-average common stock outstanding – 92,957,493 91,737,020 92,347,257 91,737,020 Net (loss) income per share: Basic and diluted $ (1.14 ) $ 0.09 $ (0.97 ) $ 0.10 Since we were in a net loss position for the three and six months ended June 30, 2021, diluted EPS is equal to basic EPS for such periods as the inclusion of potential common stock equivalents would have been anti-dilutive. We excluded 58,513 potential common stock equivalents from the computation of diluted EPS for the three and six months ended June 30, 2021, respectively, because the effect would have been anti-dilutive. In addition, we excluded 4,599,736 2,299,868 potential common stock equivalents outstanding, with market conditions which were not met at that date, that were excluded from the calculatio n

Related Party

Related Party	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party	(13) Related Party From time to time, the Company does business with a number of other companies affiliated with Blackstone, which cannot be presumed to be carried out at an arm’s-length basis. During the periods presented, Blackstone had an interest in Alight, Inc. (“Alight”), Custom Ink and Mphasis Limited (“Mphasis”), entities that supply TaskUs with certain consulting services and promotional items. During the three months and six months ended June 30, 2021, the Company made payments of $0.1 million and $0.4 million, respectively to Alight. During the six months ended June 30, 2021, the Company made payments of $ million to Custom Ink. During the six months ended June 30, 2020, the Company made payments of $0.2 million to Mphasis. During the periods presented, Blackstone had an interest in Vivint Smart Home, Inc. (“Vivint”), t t Underwriting of IPO Blackstone Securities Partners L.P of the million shares of Class A common stock sold in the IPO, with underwriting discounts and commissions of per share paid by the Company and selling stockholders.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	(14) Subsequent Events Employee Compensation On August 5, 2021, the Company granted equity awards under the 2021 Omnibus Incentive Plan to certain officers. On that date, the Board also authorized management to make grants and awards of cash or options or other equity securities to non-executive officers of the Company under the 2021 Omnibus Incentive Plan in compliance with the plan, of which equity awards were granted on August 9, 2021. Phantom shares In the third quarter of 2021, the Company used the net proceeds received by it from the IPO, together with cash on hand, to satisfy payments relating to vested phantom shareholders that became due upon the completion of the IPO. See Note 9, “Employee Compensation” for additional information. Contingent consideration On July , , the Company made payments of $ million to the sellers of TaskUs Holdings, Inc, in relation to the contingent consideration arising from certain tax benefits realized as a result of the Blackstone Acquisition. See Note 8(b), “Commitments and Contingencies” for additional information.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	(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 prospectus dated June 10, 2021 (the “prospectus”), as filed with the Securities and Exchange Commission (the “SEC”) on June 14, 2021, includes a discussion of the significant accounting policies used in the preparation of our consolidated financial statements. There were no material changes to our significant accounting policies during the six months ended June 30, 2021. 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. The accompanying financial statements and related notes to the financial statements give retroactive effect to the stock split for all periods presented. See Note 11, “ Shareholders’ Equity” for additional information.
Use of Estimates	(b) Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the determination of useful lives and impairment of fixed assets; allowances for doubtful accounts and other receivables; the valuation of deferred tax assets; valuation of forward contracts receivable; valuation of equity based compensation; valuation and impairment of intangibles and goodwill and reserves for income tax uncertainties and other contingencies. As of June 30, 2021, the impact of the novel coronavirus (“COVID-19”)
Principles of consolidation	(c) Principles of consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company has no involvement with variable interest entities.
Concentration Risk	(d) Concentration Risk Most of the Company’s customers are located in the United States. Customers outside of the United States are concentrated in Europe and Canada. For the three and six months ended June 30, 2021 and 2020, the following customers represented greater than 10% of the Company’s service revenue: Service revenue percentage Three months ended June 30, Six months ended June 30, Customer 2021 2020 2021 2020 A 27 % 33 % 28 % 32 % B 12 % 16 % 12 % 14 % As of June 30, 2021 and December 31, 2020, the following customers represented greater than 10% of the Company’s accounts receivable: Accounts receivable percentage Customer June 30, 2021 December 31, 2020 A 14 % 22 % B 16 % 16 % The Company’s principal operations, including the majority of its employees and the fixed assets owned by its wholly owned subsidiaries, are located in the Philippines.
Property and Equipment, net	(5) Property and Equipment, net The components of Property and equipment, net at June 30, 2021 and December 31, 2020 were as follows: June 30, December 31, (in thousands) Leasehold improvements $ 30,972 $ 31,654 Technology and computers 62,678 47,572 Furniture and fixtures 4,023 4,203 Construction in process 8,724 5,194 Other property and equipment 6,309 5,995 Property and equipment, gross 112,706 94,618 Accumulated depreciation (49,646 ) (37,661 ) Property and equipment, net $ 63,060 $ 56,957 The Company’s principal operations are in the Philippines where the majority of property and equipment resides under its wholly owned subsidiaries. The table below presents the Company’s total property and equipment by the geographic location as of June 30, 2021 and December 31, 2020: June 30, December 31, (in thousands) Philippines $ 39,825 $ 37,823 United States 10,019 8,983 Rest of World 13,216 10,151 Total Property and equipment, net $ 63,060 $ 56,957
Recent Accounting Pronouncements	(e) Recent Accounting Pronouncements The Company currently qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Accordingly, the Company is provided the option to adopt new or revised accounting guidance either (i) within the same periods as those otherwise applicable to non-emerging Recently adopted accounting pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2019-12, 2019-12 Recently issued accounting pronouncements In February 2016, the FASB issued ASU 2016-02, 2016-02 In June 2016, the FASB issued ASU 2016-13, 2016-13
Forward Contract Receivable	(4) Forward Contract Receivable The Company transacts business in various foreign currencies and has international sales and expenses denominated in foreign currencies, subjecting the Company to foreign currency exchange rate risk. During 2021 and 2020, the Company entered into foreign currency exchange rate forward contracts, with a commercial bank as the counterparty, with maturities of generally 12 months or less, to reduce the volatility of cash flows primarily related to forecasted costs denominated in Philippine pesos. In addition, the Company utilizes foreign currency exchange rate contracts to mitigate foreign currency exchange rate risk associated with foreign currency-denominated assets and liabilities, primarily intercompany balances. The Company does not use foreign currency exchange rate contracts for trading purposes. The exchange rate forward contracts entered into by the Company are not designated as hedging instruments. Any gains or losses resulting from changes in the fair value of these contracts are recognized in other (income) expense in the consolidated statements of operations. For the three months ended June 30, 2021 and 2020 the Company settled forward contracts with total notional amounts of approximately $22.8 million, and $18.0 million, respectively and for the six months ended June 30, 2021 and 2020 the Company settled forward contracts with total notional amounts of approximately $45.6 million, and $36.0 million, respectively. For the three months ended June 30, 2021 and 2020, For the six months ended June 30, 2021 As of June 30, 2021 and December 31, 2020, the Company had outstanding forward contracts with notional amounts of approximately $116.6 million and $109.2 million, respectively. The forward contract receivable resulting from change in fair value was recorded under other current assets. For the three months ended June 30, 2021 and 2020, the unrealized gains on the forward contracts of $0.1 million and $1.3 million, respectively, were included within other (income) expense. For the six months ended June 30, 2021 and 2020, the unrealized losses on the forward contracts of $1.7 million and $0.2 million, respectively, were included within other (income) expense. By entering into derivative contracts, the Company is exposed to counterparty credit risk, or the failure of the counterparty to perform under the terms of the derivative contract. For the periods presented, the non-performance The Company has implemented the fair value accounting standard for those assets that are re-measured In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset and include situations where there is little, if any, market activity for the asset. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair value measurements using June 30, 2021 Level 1 inputs Level 2 inputs Level 3 inputs (in thousands) Forward contract receivable $ 50 $ — $ 50 $ — Fair value measurements using December 31, 2020 Level 1 inputs Level 2 inputs Level 3 inputs (in thousands) Forward contract receivable $ 1,780 $ — $ 1,780 $ — The Company’s derivatives are carried at fair value using various pricing models that incorporate observable market inputs, such as interest rate yield curves and currency rates, which are Level 2 inputs. Derivative valuations incorporate credit risk adjustments that are necessary to reflect the probability of default by the counterparty or by the Company.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Schedule of Concentration of Risk by Risk Factor	For the three and six months ended June 30, 2021 and 2020, the following customers represented greater than 10% of the Company’s service revenue: Service revenue percentage Three months ended June 30, Six months ended June 30, Customer 2021 2020 2021 2020 A 27 % 33 % 28 % 32 % B 12 % 16 % 12 % 14 % As of June 30, 2021 and December 31, 2020, the following customers represented greater than 10% of the Company’s accounts receivable: Accounts receivable percentage Customer June 30, 2021 December 31, 2020 A 14 % 22 % B 16 % 16 %

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Summary of breakdown of revenue by service offering	The following table presents the breakdown of the Company’s revenues by service offering: Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Digital Customer Experience $ 113,566 $ 71,345 $ 213,277 $ 136,562 Content Security 42,995 31,076 79,122 57,614 AI Operations 23,461 11,979 40,494 22,653 Service Revenue $ 180,022 $ 114,400 $ 332,893 $ 216,829
Summary of breakdown of revenue by geographical location	The following table presents the breakdown of the Company’s revenues by geographical location, based on where the services are provided from: Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Philippines $ 95,681 $ 62,842 $ 180,259 $ 118,716 United States 58,930 43,429 109,687 84,074 Rest of World 25,411 8,129 42,947 14,039 Service Revenue $ 180,022 $ 114,400 $ 332,893 $ 216,829

Forward Contract Receivable (Ta

Forward Contract Receivable (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instrument Detail [Abstract]
Summary of Assets Measured at Fair Value	The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair value measurements using June 30, 2021 Level 1 inputs Level 2 inputs Level 3 inputs (in thousands) Forward contract receivable $ 50 $ — $ 50 $ — Fair value measurements using December 31, 2020 Level 1 inputs Level 2 inputs Level 3 inputs (in thousands) Forward contract receivable $ 1,780 $ — $ 1,780 $ —

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Summary of components of Property and equipment,net	The components of Property and equipment, net at June 30, 2021 and December 31, 2020 were as follows: June 30, December 31, (in thousands) Leasehold improvements $ 30,972 $ 31,654 Technology and computers 62,678 47,572 Furniture and fixtures 4,023 4,203 Construction in process 8,724 5,194 Other property and equipment 6,309 5,995 Property and equipment, gross 112,706 94,618 Accumulated depreciation (49,646 ) (37,661 ) Property and equipment, net $ 63,060 $ 56,957
Summary of property and equipment by the geographic location	The table below presents the Company’s total property and equipment by the geographic location as of June 30, 2021 and December 31, 2020: June 30, December 31, (in thousands) Philippines $ 39,825 $ 37,823 United States 10,019 8,983 Rest of World 13,216 10,151 Total Property and equipment, net $ 63,060 $ 56,957

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible assets	Intangible assets consisted of the following as of June 30, 2021 and December 31, 2020: Intangibles, Life Accumulated Intangibles, (in thousands) Customer relationships $ 240,800 15 $ (44,148 ) $ 196,652 Trade name 41,900 15 (7,681 ) 34,219 Balance as of June 30, 2021 $ 282,700 $ (51,829 ) $ 230,871 Intangibles, Life Accumulated Intangibles, (in thousands) Customer relationships $ 240,800 15 $ (36,121 ) $ 204,679 Trade name 41,900 15 (6,284 ) 35,616 Balance as of December 31, 2020 $ 282,700 $ (42,405 ) $ 240,295

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Summary of current and non-current portions of debt	The balances of current and non-current (in thousands) Current Noncurrent Total Term Loan $ 9,188 $ 194,775 $ 203,963 Revolver 39,878 — 39,878 Less: Debt financing fees (556 ) (1,250 ) (1,806 ) Total $ 48,510 $ 193,525 $ 242,035

Employee Compensation (Tables)

Employee Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Summary of Components of stock-based compensation expense recognized in the Company's condensed consolidated statements of (loss) income	The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed c o Three months ended Six months ended 2021 2020 2021 2020 (in thousands) Cost of services $ 51 $ — $ 51 $ — Selling, general , 133,216 — 133,216 — Total $ 133,267 $ — $ 133,267 $ —
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Payment Award Stock Options Valuation Assumptions -Stock Options	The grant date fair value of the stock options was Dividend yield (%) 0.0 % Expected volatility (%) 35 % Risk-free interest rate (%) 0.8-1.1 % Expected term (years) 5.1-7.0
Performance Shares [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Payment Award Stock Options Valuation Assumptions -Stock Options	The grant date fair value of the PSUs were estimated using the Monte Carlo simulation method with the following assumptions: Dividend yield (%) 0 % Expected volatility (%) 40 % Risk-free interest rate (%) 0.1-0.5 %

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of earnings per share basic and diluted	The following table summarizes the computation of basic and diluted EPS for the three and six months ended June 30, 2021 and 2020: Three months ended June 30, Six months ended June 30, (in thousands, except share and per share data 2021 2020 2021 2020 Numerator: Net (loss) income Available to Common Shareholders $ (105,943 ) $ 8,008 $ (89,436 ) $ 9,523 Denominator: Weighted-average common stock outstanding – 92,957,493 91,737,020 92,347,257 91,737,020 Net (loss) income per share: Basic and diluted $ (1.14 ) $ 0.09 $ (0.97 ) $ 0.10

Description of Business and O_2

Description of Business and Organization - Additional Information (Detail)	Jun. 10, 2021
Amended and restated its certificate of incorporation [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Forward stock split ratio	10

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Concentration of Risk by Risk Factor (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Service Revenue [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%	10.00%
Service Revenue [Member] | Customer A [Member]
Concentration Risk [Line Items]
Concentration risk percentage	27.00%	33.00%	28.00%	32.00%
Service Revenue [Member] | Customer B [Member]
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	16.00%	12.00%	14.00%
Accounts Receivable [Member] | Customer A [Member]
Concentration Risk [Line Items]
Concentration risk percentage			14.00%		22.00%
Accounts Receivable [Member] | Customer B [Member]
Concentration Risk [Line Items]
Concentration risk percentage			16.00%		16.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Service Revenue [Member]
Product Information [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%	10.00%
Accounts Receivable [Member] | Minimum [Member]
Product Information [Line Items]
Accounts receivable percentage	10.00%		10.00%		10.00%

Revenue - Summary of Breakdown

Revenue - Summary of Breakdown of Revenue by Service Offering (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Service Revenue	$ 180,022	$ 114,400	$ 332,893	$ 216,829
Digital Customer Experience [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	113,566	71,345	213,277	136,562
Content Security [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	42,995	31,076	79,122	57,614
AI Operations [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	$ 23,461	$ 11,979	$ 40,494	$ 22,653

Revenue - Summary of Breakdow_2

Revenue - Summary of Breakdown of Revenue by Geographical Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Service Revenue	$ 180,022	$ 114,400	$ 332,893	$ 216,829
Philippines [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	95,681	62,842	180,259	118,716
United States [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	58,930	43,429	109,687	84,074
Rest of world [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	$ 25,411	$ 8,129	$ 42,947	$ 14,039

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Line Items]
Accounts receivable unbilled after allowances for credit losses	$ 71.7	$ 47.4

Forward Contract Receivable - S

Forward Contract Receivable - Summary of Assets Measured at Fair Value (Details) - Fair Value, Recurring [Member] - Foreign Exchange Forward [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward contract receivable	$ 50	$ 1,780
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward contract receivable	$ 50	$ 1,780

Forward Contract Receivable - A

Forward Contract Receivable - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Unrealized gains (losses) on the forward contracts			$ (1,730)	$ (178)
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Forward contracts settled notional amount	$ 22,800	$ 18,000	45,600	36,000
Foreign Exchange Forward [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Forward contract receivable with notional amounts	116,600		116,600		$ 109,200
Nonoperating Income (Expense) [Member] | Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Gain loss on settlement of forward contracts receivable realized	600	900	1,400	1,600
Unrealized gains (losses) on the forward contracts	$ 100	$ 1,300	$ (1,700)	$ (200)

Property and Equipment, net - S

Property and Equipment, net - Summary of components of Property and equipment,net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 112,706	$ 94,618
Accumulated depreciation	(49,646)	(37,661)
Property and equipment, net	63,060	56,957
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	30,972	31,654
Technology and computers [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	62,678	47,572
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,023	4,203
Construction in process [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,724	5,194
Other property and equipment [Member
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 6,309	$ 5,995

Property and Equipment, net -_2

Property and Equipment, net - Summary of property and equipment by the geographic location (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 63,060	$ 56,957
Philippines [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	39,825	37,823
United States [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	10,019	8,983
Rest of World [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 13,216	$ 10,151

Goodwill and Intangibles - Summ

Goodwill and Intangibles - Summary of Intangible assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangibles,Gross	$ 282,700	$ 282,700
Accumulated Amortization	(51,829)	(42,405)
Intangibles, Net	230,871	240,295
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangibles,Gross	$ 240,800	$ 240,800
Life (Years)	15 years	15 years
Accumulated Amortization	$ (44,148)	$ (36,121)
Intangibles, Net	196,652	204,679
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangibles,Gross	$ 41,900	$ 41,900
Life (Years)	15 years	15 years
Accumulated Amortization	$ (7,681)	$ (6,284)
Intangibles, Net	$ 34,219	$ 35,616

Goodwill and Intangibles - Addi

Goodwill and Intangibles - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill carrying amount	$ 195,735	$ 195,735

Long-Term Debt - Summary of cur

Long-Term Debt - Summary of current and non-current portions of debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt Financing Costs, Current	$ (556)
Debt Financing Costs, Non Current	(1,250)
Debt Financing Costs, net	(1,806)
Long-term Debt - Current Maturities	48,510
Long-term Debt - Non Current Maturities	193,525	$ 198,768
Long-term Debt	242,035
Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Carrying Amount Currrent	9,188
Debt Instrument Carrying Amount Non currrent	194,775
Long-term Debt, Gross	203,963
Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument Carrying Amount Currrent	39,878
Long-term Debt, Gross	$ 39,878

Long-Term Debt - Additional In

Long-Term Debt - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Apr. 30, 2021	Dec. 31, 2020	Sep. 25, 2019
Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	2.345%
Long term debt maturity date	Sep. 25, 2024
Term Loan [Member] | Year One [Member]
Debt Instrument [Line Items]
Percentage of repayment on original principal amount			1.00%
Term Loan [Member] | Year Two [Member]
Debt Instrument [Line Items]
Percentage of repayment on original principal amount			2.50%
Term Loan [Member] | Year Three [Member]
Debt Instrument [Line Items]
Percentage of repayment on original principal amount			5.00%
Term Loan [Member] | Year Four [Member]
Debt Instrument [Line Items]
Percentage of repayment on original principal amount			7.50%
Term Loan [Member] | Year Five [Member]
Debt Instrument [Line Items]
Percentage of repayment on original principal amount			10.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility expiration date	Sep. 25, 2024
Line of credit facility stated interest rate	2.345%
Line of credit facility unused commitement fee percentage	0.40%
Line of Credit Facility, Frequency of Commitment Fee Payment for undrawn borrowings	quarterly
Borrowing availability under the Revolving Credit Facility	$ 50.1
Revolving Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	15
Revolving Credit Facility [Member] | Swing Line Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 5
2019 Credit Agreement [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Debt face amount				$ 210
2019 Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit additional borrowing capacity		$ 50
2019 Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity				$ 40
Debt modification fees gross		$ 0.3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - TaskUs Holdings, Inc [Member] - USD ($) $ in Millions	Oct. 01, 2018	Jul. 09, 2021	Jun. 30, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Contingent Consideration Liability		$ 3.6
Bidco [Member]
Loss Contingencies [Line Items]
Percentage of Voting Interests Acquired	100.00%
Transaction price	$ 429.4
Bidco [Member] | Accounts Payable and Accrued Liabilities [Member]
Loss Contingencies [Line Items]
Contingent Consideration Liability			$ 3.6	$ 3.6

Employee Compensation - Summary

Employee Compensation - Summary of Components of stock-based compensation expense recognized in the Company's condensed consolidated statements of (loss) income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 133,267	$ 0	$ 133,267	$ 0
Cost of Services [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	51		51
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 133,216		$ 133,216

Employee Compensation - Share B

Employee Compensation - Share Based Payment Award Stock Options Valuation Assumptions -Stock Options (Details) - Two Thousand and Twenty One Omnibus Incentive Plan [Member]	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	0.00%
Expected volatility (%)	35.00%
Risk-free interest rate (%) Minimum	0.80%
Risk-free interest rate (%) - Maximum	1.10%
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	0.00%
Expected volatility (%)	40.00%
Risk-free interest rate (%) Minimum	0.10%
Risk-free interest rate (%) - Maximum	0.50%
Maximum [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	7 years
Minimum [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years 1 month 6 days

Employee Compensation - Additio

Employee Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 10, 2021	Apr. 16, 2021	Apr. 16, 2019	Jun. 30, 2021	Jul. 15, 2021	Dec. 31, 2020
Phantom Stock Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Outstanding				511,489	0	651,436
Forfeited				139,947
Recognized expense amount of expected cash settlement				$ 127.5
2019 Stock Incentive Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Contractual term			10 years
2019 Stock Incentive Plan [Member] | Event of a Change in Control [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting Period		2 years
2019 Stock Incentive Plan [Member] | Event of an IPO [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting Period			3 years
2021 Omnibus Incentive Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Common stock reserved for issuance				12,160,929
Share-based Payment Arrangement, Option [Member] | 2021 Omnibus Incentive Plan [Member] | Founders and Certain Officers and Employees [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting Period	4 years
Granted	1,565,398
Weighted-average grant date fair value	$ 8.15
Expiry term	10 years
Share-based Payment Arrangement, Option [Member] | 2019 Stock Incentive Plan and 2021 Omnibus Incentive Plan [Member] | Founders and Certain Officers and Employees [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Options, outstanding				9,139,456
Weighted Average Exercise Price,oustanding				$ 8.23
Unrecognized compensation expense				$ 17.3
Nonvested Award, Cost Not yet Recognized, Period for Recognition				2 years 3 months 18 days
Restricted Stock Units (RSUs) [Member] | 2021 Omnibus Incentive Plan [Member] | Founders and Certain Officers and Employees [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting Period	4 years
Unrecognized compensation expense				$ 55.6
Nonvested Award, Cost Not yet Recognized, Period for Recognition				2 years 2 months 12 days
Granted	2,528,621
Weighted-average grant date fair value	$ 23
Performance Shares [Member] | 2021 Omnibus Incentive Plan [Member] | Founder [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation expense				$ 12.8
Nonvested Award, Cost Not yet Recognized, Period for Recognition				2 years 9 months 18 days
Granted	3,307,060
Weighted-average grant date fair value	$ 3.98

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expenses benefit provision	$ (7,020)	$ 1,629	$ (3,461)	$ 1,968
Effective income tax rate	6.20%	16.90%	3.70%	17.10%
Effective tax rates, federal statutory			21.00%	21.00%

Shareholders' Equity - Addition

Shareholders' Equity - Additional information (Detail)	Jun. 15, 2021USD ($)$ / sharesshares	Jun. 10, 2021$ / sharesshares	Apr. 16, 2021USD ($)	Apr. 09, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020$ / shares
Class of Stock [Line Items]
Dividends, Common Stock, declared | $				$ 50,000,000
Dividends, Common Stock, paid | $			$ 50,000,000			$ 50,000,000
Preferred stock, shares authorized		250,000,000
Preferred stock, par or stated value per share | $ / shares		$ 0.01
Amended And Restated Its Certificate Of Incorporation [Member]
Class of Stock [Line Items]
Forward stock split ratio		10
Phantom Share Units (PSUs) [Member] | Forecast [Member]
Class of Stock [Line Items]
Payments for vested phantom shares | $					$ 127,500,000
Common Class A [Member]
Class of Stock [Line Items]
Common stock, shares authorized		2,500,000,000				2,500,000,000
Common stock, par or stated value per share | $ / shares		$ 0.01				$ 0.01	$ 0.01
Common stock, vote per share		one
Issuance on Class A Common stock in the initial public offering primary offering, net of offering costs, shares						5,553,154
Share price | $ / shares	$ 23
Proceeds from issuance, net of underwriters' fees | $	$ 120,700,000
Common Class A [Member] | Primary Offering [Member]
Class of Stock [Line Items]
Issuance on Class A Common stock in the initial public offering primary offering, net of offering costs, shares	5,553,154
Common Class A [Member] | Secondary Offering [Member]
Class of Stock [Line Items]
Issuance on Class A Common stock in the initial public offering primary offering, net of offering costs, shares	9,626,846
Common Class B [Member]
Class of Stock [Line Items]
Common stock, shares authorized		250,000,000
Common stock, par or stated value per share | $ / shares		$ 0.01
Common stock conversion basis		ten votes per share and is convertible into one share
Common Class B [Member] | Maximum [Member]
Class of Stock [Line Items]
Common stock, conversion of terms		7 years

(Loss) Earnings Per Share - Sch

(Loss) Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator
Net (loss) income Available to Common Shareholders	$ (105,943)	$ 8,008	$ (89,436)	$ 9,523
Denominator
Weighted-average common stock outstanding – basic and diluted	92,957,493	91,737,020	92,347,257	91,737,020
Net (loss) income per share:
Basic and diluted	$ (1.14)	$ 0.09	$ (0.97)	$ 0.10

(Loss) Earnings Per Share - Add

(Loss) Earnings Per Share - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Jun. 30, 2021shares	Jun. 30, 2021shares
Earnings Per Share [Abstract]
Dilutive common stock equivalents	58,513	29,256
Potential common stock equivalents from computation of diluted EPS	4,599,736	2,299,868
Potential common stock equivalents outstanding with market conditions that excluded from diluted EPS	5,352,056	5,352,056

Related Party - Additional inf

Related Party - Additional information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Common Class A [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues	5,553,154
IPO [Member] | Common Class A [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues		15,180,000
Alight [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 0.1	$ 0.4
Mphasis [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction			$ 0.2
Blackstone Securities Partners L.P [Member]
Related Party Transaction [Line Items]
Underwriting discount paid per unit		$ 1.265
Stock Issued During Period, Shares, New Issues		1,380,000
Vivint Group [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	0.5	$ 0.8
North American Bancard [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	0.5	0.6
Custom Ink [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction		0.2
Expenses from transactions with related party	$ 0.5	$ 0.7

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions	Aug. 09, 2021	Aug. 05, 2021	Jul. 09, 2021
Subsequent Event [Member]
Subsequent Event [Line Items]
Share-based compensation arrangement by share-based payment award, options, grants in period, gross	1,357,838
Subsequent Event [Member] | Officer [Member]
Subsequent Event [Line Items]
Share-based compensation arrangement by share-based payment award, options, grants in period, gross		895,820
TaskUs Holdings, Inc [Member]
Subsequent Event [Line Items]
Business combination, contingent consideration, liability			$ 3.6