to $239.7 million, up from $152.9 million in first quarter 2021, although its net income of $11.6 million was down from $16.5 million in first quarter 2021. The company said it’s on track to meet its forecast revenue of $980 million to $1 billion for 2022, which would surpass last year’s record revenue of $760 million.
“We view TaskUs as a strong franchise, with ongoing growth momentum and attractive client base,” Baird analyst David Koning said in a note after the company’s recent financial report.On May 9, TaskUs said it’s planning layoffs in the U.S. as it focuses on international growth. It said its clients are seeking to cut costs amid a volatile economic market exacerbated by inflation, the Federal Reserve raising interest rates, and the downfall of cryptocurrency markets.
And as TaskUs has increased revenue it’s grown its global workforce. The company said this month it added 5,700 employees worldwide during the first quarter, bringing its staff count to about 45,800 people across 23 sites inRackspace, by comparison, has more than 6,500 employees in 19 countries, according toTaskUs’ Philippine offices house the majority of its workers with 27,000, while its India branch is its fastest-growing, with more than 7,500 workers.
Employees at heloo support 20 languages across seven Eastern European countries including Bosnia, Serbia, and Slovenia, TaskUs said.“Our future vision includes supporting algorithms for facial recognition, teaching new autonomous vehicles like drones to fly, identifying bullying in real time on live gaming platforms, reading MRIs and X-rays accurately and helping to automatically detect cybersecurity attacks,” according to SEC filings.
That company’s creation story by now is an old San Antonio tech tale: Graham Weston and Trinity University students sat at Chester’s Hamburgers and agreed to rent servers to businesses. The “Rackers” — as employees are called — launched what grew to become the city’s largest cloud-computing company.
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