0001193125-21-301049 | S-1 | XBRL Viewer

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Cover Page	6 Months Ended
Cover Page	Jun. 30, 2021
Document Information [Line Items]
Document Type	S-1
Amendment Flag	false
Entity Registrant Name	TaskUs, Inc.
Entity Central Index Key	0001829864
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash	$ 195,927	$ 107,728	$ 37,541
Accounts receivable, net of allowance for doubtful accounts	127,867	87,782	57,981
Other receivables	439	105	112
Prepaid expenses	9,667	13,032	10,207
Income Taxes Receivable		1,606	1,717
Other current assets	2,471	1,051	559
Total current assets	336,371	211,304	108,117
Noncurrent assets:
Property and equipment, net	63,060	56,957	45,076
Deferred tax assets	575	585	131
Intangibles	230,871	240,295	259,142
Goodwill	195,735	195,735	195,735
Other noncurrent assets	3,006	2,630	2,474
Total noncurrent assets	493,247	496,202	502,558
Total assets	829,618	707,506	610,675
Current liabilities:
Accounts payable and accrued liabilities	43,494	41,935	24,252
Accrued payroll and employee-related liabilities	171,690	21,994	17,106
Current portion of debt	48,510	45,984	2,431
Current portion of income tax payable	1,586
Deferred revenue	5,810	4,711	2,108
Deferred Rent	303	218	959
Total current liabilities	271,393	114,842	46,856
Noncurrent liabilities:
Income tax payable	2,988	2,988	1,704
Long-term debt	193,525	198,768	204,874
Deferred rent	2,573	2,194	1,772
Accrued payroll and employee-related liabilities	2,640	2,641
Other long-term payable			466
Deferred tax liabilities	40,474	50,936	57,503
Total noncurrent liabilities	242,200	257,527	266,319
Total liabilities	513,593	372,369	313,175
Commitments and Contingencies
Shareholders' equity:
Common Stock, Value, Issued		917	917
Additional Paid - in Capital	519,817	398,202	398,202
Accumulated deficit	(206,834)	(67,398)	(101,931)
Accumulated other comprehensive income	2,069	3,416	312
Total shareholders' equity	316,025	335,137	297,500
Total liabilities and shareholders' equity	829,618	707,506	$ 610,675
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 Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable, net of allowance for doubtful accounts	$ 2,691	$ 2,294	$ 75
Common Stock, Par or Stated Value Per Share		$ 0.01	$ 0.01
Common Stock, Shares Authorized		100,000,000	100,000,000
Common Stock, Shares, Issued		91,737,020	91,737,020
Common Stock, Shares, Outstanding		91,737,020	91,737,020
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 Statements of Operations - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Service revenue	$ 332,893	$ 216,829	$ 478,046	$ 359,681
Operating Expenses [Abstract]
Cost of services	191,828	125,918	270,510	194,786
Selling, general, and administrative expense	209,308	51,440	113,519	90,630
Depreciation	12,932	10,529	20,155	16,329
Amortization of intangible assets	9,424	9,424	18,847	18,847
Loss (gain) on disposal of assets	28	(5)	1,116	2,227
Contingent consideration		3,570	3,570
Total operating expenses	423,520	200,876	427,717	322,819
Operating (loss) income	(90,627)	15,953	50,329	36,862
Other (income) expense	(905)	260	(1,572)	(2,013)
Financing expenses	3,175	4,202	7,482	9,346
(Loss) income before taxes	(92,897)	11,491	44,419	29,529
(Benefit from) provision for income taxes	(3,461)	1,968	9,886	(4,411)
Net (loss) income	$ (89,436)	$ 9,523	$ 34,533	$ 33,940
Net (loss) income per common share, basic and diluted	$ (0.97)	$ 0.10	$ 0.38	$ 0.37
Weighted-average number of common shares outstanding, basic and diluted	92,347,257	91,737,020	91,737,020	91,737,020

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (89,436)	$ 9,523	$ 34,533	$ 33,940
Retirement benefit reserves	(8)	2	329	45
Foreign currency translation adjustments	(1,339)	1,007	2,775	(226)
Other comprehensive income			$ 37,637	$ 33,759
Comprehensive (loss) income	$ (90,783)	$ 10,532

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Class A Common stock [Member]	Class B Common stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated other comprehensive income [Member]
Beginning Balance at Dec. 31, 2018	$ 398,741			$ 917	$ 398,202	$ (871)	$ 493
Beginning Balance, shares at Dec. 31, 2018				91,737,020
Statement Of Changes In Equity [Line Items]
Distribution of dividends	(135,000)					(135,000)
Net income (loss)	33,940					33,940
Other comprehensive income (Loss)	(181)						(181)
Ending balance at Dec. 31, 2019	297,500		$ 917	$ 917	398,202	(101,931)	312
Ending balance, shares at Dec. 31, 2019			91,737,020	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	$ 917	398,202	(101,931)	312
Beginning Balance, shares at Dec. 31, 2019			91,737,020	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 Dec. 31, 2019	297,500		$ 917	$ 917	398,202	(101,931)	312
Beginning Balance, shares at Dec. 31, 2019			91,737,020	91,737,020
Statement Of Changes In Equity [Line Items]
Net income (loss)	34,533					34,533
Other comprehensive income (Loss)	3,104						3,104
Ending balance at Dec. 31, 2020	335,137		$ 917	$ 917	398,202	(67,398)	3,416
Ending balance, shares at Dec. 31, 2020			91,737,020	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	$ 917	398,202	(67,398)	3,416
Beginning Balance, shares at Dec. 31, 2020			91,737,020	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	$ 917	398,202	(67,398)	3,416
Beginning Balance, shares at Dec. 31, 2020			91,737,020	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	(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 Statements of Shareholders' Equity - (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends, Per Share	$ 0.55	$ 1.47

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net (loss) income	$ (89,436)	$ 9,523	$ 34,533	$ 33,940
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation	12,932	10,510	20,149	16,319
Amortization of Intangibles	9,424	9,424	18,847	18,847
Amortization of debt financing fees	247	228	457	2,526
Loss (gain) on disposal of assets	28	(5)	1,116	2,227
Provision for losses on accounts receivable	465	1,297	2,227	65
Unrealized foreign exchange losses (gains) for forward contracts	1,730	178	84	(1,069)
Deferred taxes	(10,462)	(2,157)	(6,496)	(8,838)
Stock-based compensation expense	5,771
Changes in operating assets and liabilities:
Accounts receivables	(41,195)	(22,007)	(32,006)	(13,046)
Other receivables, prepaid expenses, and other current assets	(4,398)	(430)	(3,768)	(3,702)
Other noncurrent assets	(415)	(343)	(67)	(457)
Accounts payable and accrued liabilities	5,537	7,976	13,535	(2,060)
Accrued payroll and employee-related liabilities	150,543	4,003	6,669	2,593
Income tax payable	3,304	2,896	1,381	(3,652)
Deferred revenue	1,100	970	2,603	(184)
Deferred rent	502	540	(391)	280
Net cash provided by operating activities	45,677	22,603	58,873	43,789
Cash flows from investing activities:
Purchase of property and equipment	(23,453)	(18,815)	(28,883)	(20,045)
Net cash used in investing activities	(23,453)	(18,815)	(28,883)	(20,045)
Cash flows from financing activities:
Proceeds from borrowing, Revolving credit facility		39,878	39,878
Proceeds from long-term debt				210,000
Settlement of 2018 Credit Agreement				(84,575)
Payment of loan fees				(2,285)
Payments on long-term debt	(2,625)	(525)	(2,888)	(950)
Payments for debt financing fees	(340)
Issuance of common stock, net of underwriters' fees	120,698
Distribution of dividends	(50,000)			(135,000)
Net cash provided by (used in) financing activities	67,733	39,353	36,990	(12,810)
Increase in cash and cash equivalents	89,957	43,141	66,980	10,934
Effect of exchange rate changes on cash	(1,758)	1,429	3,207	1,326
Cash and cash equivalents at beginning of period	107,728	37,541	37,541	25,281
Cash and cash equivalents at end of period	$ 195,927	$ 82,111	107,728	37,541
Supplemental Cash Flow Information
Cash paid for interest expense			6,957	6,820
Cash paid for income taxes			15,519	7,998
Noncash operating, investing and financing activities:
Accrued capital expenditures			$ 10,953	$ 9,987

Description of Business and Organization

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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 a

ten-for-one

forward stock split of its outstanding common stock and authorized two classes of ownership interests. See Note 11, “Shareholders’ Equity” for additional information.

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”) Operations. We have designed our platform to enable us to rapidly scale and benefit from our clients’ growth. Through our agile and responsive operational model, we deliver services from multiple delivery sites that span globally from the United States, Philippines, and other parts of the world.

The Company’s major service offerings are described in more detail below:

•

Digital Customer Experience

: Principally consists of omni-channel customer care and customer acquisition services, primarily delivered through digital

(non-voice)

channels.

•

Content Security

: Principally consists of review and disposition of user and advertiser generated content for purposes which include removal or labeling of policy violating, offensive or misleading content.

•

AI Operation

s: Principally consists of data labeling, annotation and transcription services performed for the purpose of training and tuning AI algorithms through the process of machine learning.

(1) Description of Business and Organization

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 AI Operations. We have designed our platform to enable us to rapidly scale and benefit from our clients’ growth. Through our agile and responsive operational model, we deliver services from multiple delivery sites that span globally from the United States, Philippines, and other parts of the world.

The Company’s major service offerings are described in more detail below:

•

Digital Customer Experience

: Principally consists of omni-channel customer care and customer acquisition services, primarily delivered through digital

(non-voice)

channels.

•

Content Security

: Principally consists of review and disposition of user and advertiser generated content for purposes which include removal or labeling of policy violating, offensive or misleading content.

•

AI Operation

s: Principally consists of data labeling, annotation and transcription services performed for the purpose of training and tuning AI algorithms through the process of machine learning.

Summary of Significant Accounting Policies

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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.

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, 2020 included in our prospectus. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2021 and its results of operations, comprehensive (loss) income and shareholders’ equity for the six months

ended June 30, 2021 and 2020, and cash flows for the six months ended June 30, 2021 and 2020. The condensed consolidated balance sheet at December 31, 2020, was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements.

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”)

pandemic, including as a result of new strains and variants of the virus, continues to unfold. As a result, many of our estimates and assumptions required increased judgement and carry a higher degree of variability and volatility. We continue to closely monitor the outbreak and the impact on our operations and liquidity. As events continue to evolve and additional information becomes available, our estimates may change materially in the future.

(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 six months ended June 30, 2021 and 2020, the following customers represented greater than 10% of the Company’s service revenue:


	Service revenue percentage
	Six months ended June 30,
Customer	2021			2020
A		28	%		32	%
B		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

growth companies or (ii) within the same time periods as private companies. The Company has elected to adopt new or revised accounting guidance within the same time period as private companies.

Recently adopted accounting pronouncements

In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”)

2019-12,

Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU

2019-12”).

ASU

2019-12

was issued as a means to reduce the complexity of accounting for income taxes for those entities that fall within the scope of the accounting standard. The guidance is to be applied using a prospective method, excluding amendments related to franchise taxes, which should be applied on either a retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. ASU

2019-12

is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company adopted this standard in the first quarter of 2021; the adoption did not have a material impact on its consolidated financial statements.

Recently issued accounting pronouncements

In February 2016, the FASB issued ASU

2016-02,

Leases (Topic 842), which supersedes FASB Accounting Standards Codification (ASC), Leases (Topic 840). The standard is intended to increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheets and disclosing key information about leasing arrangements. In June 2020, the FASB postponed the effective date for ASC 842 for private companies. This ASU will be effective for the Company beginning in fiscal year 2022, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU

2016-02

on the Company’s consolidated financial statements.

In June 2016, the FASB issued ASU

2016-13,

Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The revised standard relates to measurement of credit losses on financial instruments, and requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. The guidance replaces the incurred loss model with an expected loss model referred to as current expected credit loss (CECL). The CECL model requires us to measure lifetime expected credit losses for financial instruments held at the reporting date using historical experience, current conditions and reasonable supportable forecasts. The guidance expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating credit losses and requires new disclosures of the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. This ASU will be effective for the Company beginning in fiscal year 2023 with early adoption is permitted. The Company is currently evaluating the impact of adopting ASU

2016-13

on the Company’s consolidated financial statements.

(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”).

Forward Stock Split

On June 10, 2021, the Company amended and restated its certificate of incorporation to effect a ten-for one forward stock split of its outstanding common stock. All authorized, issued and outstanding shares of common stock have been adjusted in these consolidated financial statements, on a retrospective basis, to reflect the forward stock split for all periods presented. The par value of the common stock was not adjusted as a result of the forward stock split.

(b)

Use of Estimates

(c)

Principles of consolidation

The Company’s wholly owned subsidiaries include TU Midco, Inc. (“Midco”), TU Bidco, Inc. (“Bidco”), TaskUs Holdings, Inc., LizardBear Tasking, Inc., ROHQ (Philippines) (ROHQ), Ridiculously Good Outsourcing Inc. (TaskUs Canada), TaskUs USA, LLC (TaskUs San Antonio), TaskUs, S.A. de C.V. (TaskUs Mexico), TaskUs Limited (TaskUs United Kingdom), TaskUs Holdings, Inc. Taiwan Branch (TaskUs Taiwan), TaskUs India Private Limited (TaskUs India) TaskUs Greece Single Member Private Company, TaskUs Ireland Private Limited (TaskUs Ireland) and TaskUs Colombia SAS (TaskUs Colombia).

(d)

Segments

Operating segments are components of a company for which separate financial information is available that is evaluated regularly by the chief operating decision-maker (“CODM”) in deciding on how to allocate resources and in assessing performance. The Company’s CODM is the chief executive officer (“CEO”). The CEO reviews financial information presented on an entity level basis for purposes of making operating decisions and assessing financial performance. Therefore, the Company has determined that it operates in a single operating and reportable segment.

(e)

Concentration Risk

Most of the Company’s customers are located in the United States. Customers outside of the United States are concentrated in Europe, Canada, and Australia.

For the years ended December 31, 2020 and 2019, the following customers represented greater than 10% of the Company’s service revenue or accounts receivable:


	Service revenue percentage
Customer	Year ended December 31, 2020			Year ended December 31, 2019
A		32	%		35	%
B		12	%		11	%
C		Less than 10	%		Less than 10	%


	Accounts receivable percentage
Customer	Year ended December 31, 2020			Year ended December 31, 2019
A		22	%		15	%
B		16	%		12	%
C		Less than 10	%		10	%

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.

(f)

Translation of

Non-U.S.

Currency Amounts

We are subject to foreign currency exposure due to our principal operations being located in the Philippines and operations in various other international locations. Assets and liabilities of

non-U.S.

subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars at fiscal

year-end

exchange rates. Revenue and expense items are translated at weighted average foreign currency exchange rates prevailing during the fiscal year. Translation adjustments are included in other comprehensive income. Realized and unrealized gains and losses arising from foreign currency transactions are recognized in other income. For the years ended December 31, 2020 and 2019, realized and unrealized foreign currency losses were $3.5 million and $1.5 million, respectively.

(g)

Accounts Receivable

Accounts receivable are recorded as revenue is recognized in accordance with our revenue recognition policy and bear interest. Most of our clients pay timely, which results in minimal interest. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company reviews its allowance for doubtful accounts monthly.

Past-due

balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Write-offs for the years ended December 31, 2020 and 2019 were $0.1 million and $0.2 million, respectively.

(h)

Debt Financing Fees

Debt financing fees include costs incurred in connection with obtaining debt financing and are amortized using the straight-line method over the term of the related credit agreement. Straight line amortization approximates amortization under the effective interest method. The amortization is included in financing expenses in the consolidated statements of income. On the consolidated balance sheets, the debt financing fees related to the undrawn delayed draw loan and revolver loan are included in other noncurrent assets and the debt financing fees related to the term loan are classified as a discount against the associated debt.

As of December 31, 2020, amortization of debt financing fees for the next five fiscal years is expected to be as follows:


(in thousands)
2021	$	457
2022		457
2023		457
2024		343
2025		—

Total	$	1,714

(i)

Derivative Instruments and Hedging Activities

Accounting Standards Codification (“ASC”) Topic 815,

Derivatives and Hedging

, establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and hedging activities. It requires the recognition of all derivative instruments as assets or liabilities on the Company’s consolidated balance sheets and measurement of those instruments at fair value. The accounting treatment of changes in fair value is dependent upon whether or not a derivative instrument is designated as a hedge and if so, the type of hedge. Gains and losses on derivative instruments not designated as hedges are included in earnings. The resulting cash flows are reported as cash from operating activities. During the periods presented, the Company entered into nondeliverable foreign currency forward contract arrangements with two commercial banks which were not designated as a hedge.

(j)

Revenue Recognition

The Company recognizes revenue from our services in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 606,

Revenue from Contracts with Customers

(“ASC 606”). Under ASC 606, the Company recognizes revenues for services for which control has transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services. To determine revenue recognition for arrangements that are determined to be within the scope of ASC 606, the Company performs the following five steps: (i) identify the

contract(s) with the customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies its performance obligations.

The Company accounts for a contract with a customer when the contract is legally enforceable and when collectability is probable. The Company has executed contracts with customers which detail, among others, the contract terms, obligations and rights of both parties and payment terms. Certain of the Company’s contracts include termination clauses, which the Company evaluates when determining the contract term over which the parties have enforceable rights and obligations. A performance obligation is the unit of account under ASC 606 and represents the distinct services that are promised to the customer. Performance obligations are identified when the contract is created and based on agreed terms and business practices. The transaction price reflects the amount the Company expects to receive in exchange for services to the customer. The expected dollar amount is allocated to each performance obligation based on the standalone selling price agreed with the customer. The Company determines the standalone selling price based on the overall pricing objectives, taking into consideration market conditions, cost of performance obligations, and other factors including geographic locations. The Company’s performance obligations are related to providing services to its customers and its customers simultaneously receive and consume the benefits of those services. Therefore, revenue is recognized over time as performance obligations are satisfied.

Certain of the Company’s contracts include assurance warranty clauses which guarantee that the services provided satisfy certain performance indicators. The assurance warranty does not create a performance obligation. The Company records a liability at the time payment under such assurance warranty clauses is both probable and reasonably estimable. Payments under assurance warranty clauses were immaterial for the years ended December 31, 2020 and 2019.

Differences in timing between the delivery of services, billings, and receipt of payment from customers can result in the recognition of certain contract assets and contract liabilities. Revenue recognized in excess of billings is recorded as accrued revenue, and is reported under accounts receivable, net of allowance for doubtful accounts on the consolidated balance sheet. Billings in excess of revenue recognized is recorded as deferred revenue until revenue recognition criteria are met. Client prepayments (even if nonrefundable) are recorded as deferred revenue on the consolidated balance sheet and recognized over future periods as services are delivered or performed.

ASC

340-40,

Other Assets and Deferred Costs—Contracts with customers

(“ASC 340”), provides guidance for incremental costs of obtaining a contract with a customer or costs incurred in fulfilling a contract with a customer. Incremental costs to obtain a contract with a customer are required to be capitalized if an entity expects to recover those costs. Signing commissions that are paid to sales employees are considered incremental costs of obtaining a contract with a customer. These commissions are deferred and then amortized on a straight-line basis over the contract period, which is typically one year. Amortization expense is included in selling, general and administrative expense on the consolidated statements of income. The Company determines the period of benefit by taking into consideration our customer contracts, our technology, and other factors. Commissions paid to

non-sales

staff are also required to be capitalized if directly attributable to, and incremental from, obtaining a contract.

(k)

Advertising Expense

Advertising costs are expensed as incurred and are included in selling, general, and administrative expense in the accompanying consolidated statements of income. Advertising expense for the years ended December 31, 2020 and 2019 was $1.3 million and $0.9 million, respectively.

(l)

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation and amortization and any impairment in value. The cost of an asset comprises its purchase price and directly attributable costs of bringing the asset to working condition for its intended use. Expenditures for additions, major

improvements, and renewals are capitalized, while expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is computed on the straight-line basis over the estimated useful life of the Company’s assets, generally three to five years or, for leasehold improvements, over five years or the term of the lease, whichever is shorter. Construction in process represents property under construction and is stated at cost. This includes costs of construction and other direct costs. The account is not depreciated until such time that the assets are completed and available for use. The Company capitalizes certain costs incurred related to the implementation of cloud computing services which are amortized over the term of the arrangement. Fully depreciated assets are retained in the accounts until they are no longer in use and no further depreciation is recognized in profit or loss. An item of property and equipment, including the related accumulated depreciation and amortization and any impairment losses, is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in profit or loss in the period the item is derecognized.

During the year ended December 31, 2020, management conducted a review of the Company’s assets due to the shift in its operating model in response to the COVID-19 pandemic. As a result of this review, the Company extended the useful lives of leasehold improvements from three years to the shorter of five years or lease term, considering the Company’s future use of the underlying real estate to which the leasehold improvements relate. The impact of this change in estimate for the year ended December 31, 2020 was a net increase of $2.5 million and $1.9 million in operating income and net income, respectively, and a net increase of $0.21 per share in earnings per share on a basic and diluted basis.

Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Long-lived

assets are grouped for recognition and measurement of impairment at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value.

Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. During the years ended December 31, 2020 and 2019, no impairment charges were recorded.

(m)

Intangibles

Intangible assets consist of finite-lived intangible assets acquired through the Company’s historical business combination. Such amounts are initially recorded at fair value and subsequently amortized over their useful lives using the straight-line method, which reflects the pattern of benefit, and assumes no residual value.

Finite-lived intangibles are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Finite-lived intangibles are grouped for recognition and measurement of impairment at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets. If circumstances require an asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset group to its carrying amount. If the carrying amount of the asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. During the years ended December 31, 2020 and 2019, no impairment charges were recorded.

(n)

Goodwill

Goodwill is the amount by which the cost of the acquired net assets in a business combination exceeds the fair value of the identifiable net assets on the date of purchase. Goodwill is not amortized.

The Company reviews goodwill for impairment annually, or more frequently when events or circumstances indicate goodwill may be impaired. Effective in 2020, the Company changed its annual goodwill impairment testing date from December 31 to October 1 to better align the testing date with its financial planning process. This change does not accelerate, delay, avoid or cause an impairment charge, nor does this change result in adjustments to previously issued financial statements. We initially assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is

more-likely-than-not

that the estimated fair value of a reporting unit is less than its carrying amount. If determined that it is

more-likely-than-not

the estimated fair value of a reporting unit is less than its carrying amount, a quantitative assessment is performed, whereby the fair value of reporting units is estimated using a combination of the income approach, using a discounted cash flow methodology, and a market approach. The determination of discounted cash flows is based on the Company’s strategic plans and market conditions. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If the carrying amount of the reporting unit exceeds its fair value, an impairment charge is recorded in an amount equal to that excess, but not more than the carrying value of goodwill. Under FASB Topic ASC 350

Intangibles—Goodwill and Other

, entities have an unconditional option to bypass the qualitative assessment described in the preceding sentences for any reporting unit in any period and proceed directly to performing the quantitative goodwill impairment test. An entity may resume performing the qualitative assessment in any subsequent period.

(o)

Other Assets

Other current assets and other noncurrent assets consist primarily of refundable security deposits and input value added tax.

(p)

Share-based Compensation

The Company accounts for its stock-based awards in accordance with provisions of ASC 718,

Compensation - Stock Compensation

(“ASC 718”). For equity awards, total compensation cost is based on the grant date fair value. For liability awards, total compensation cost is based on the fair value of the award on the date the award is granted and is remeasured at each reporting date until settlement.

Awards to employees have been granted with service, performance and market conditions that affect vesting. For unvested awards with performance vesting features, the Company assesses the probability of attaining the performance trigger at each reporting period. Awards that are deemed probable of attainment are recognized in expense over the requisite service period of the grant using a graded vesting model. The Company accounts for forfeitures as they occur.

(q)

Employee Benefits

Retirement benefit reserves represent the cumulative amount of remeasurement of the defined benefit liability arising from actuarial gains and losses due to experience and demographic assumptions.

The Company also sponsors a 401(k) retirement plan in the US whereby contributions made by eligible employees to the 401(k) are matched by the Company up to 4.0% of compensation. Employer 401(k) expense is the amount of matching contributions and is recognized in expense. Expense recognized for the years ended December 31, 2020 and 2019 was $0.9 million and $0.6 million, respectively. There are no unfunded amounts recorded on the balance sheet.

(r)

Commitments and Contingencies

Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.

(s)

Earnings per share

The computation of basic net income per share of common stock (“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. The Company did not have any potentially dilutive common stock equivalents for the years ended December 31, 2020 and 2019, therefore diluted EPS is equal to basic EPS for such periods.

(t)

Income Taxes

Current tax liabilities and assets are recognized for the estimated taxes payable or refundable, respectively, on the tax returns for the current year. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The carrying value of the Company’s net deferred tax assets is based on whether it is more likely than not that the Company will generate sufficient future taxable income to realize the deferred tax assets. A valuation allowance is established for deferred tax assets, which the Company does not believe meet the “more likely than not” threshold. The Company’s judgments regarding future taxable income may change over time due to changes in market conditions, changes in tax laws, tax planning strategies, or other factors. If the Company’s assumptions and, consequently, its estimates, change in the future, the valuation allowance may materially increase or decrease, resulting in a decrease or increase, respectively, in income tax benefit and the related impact on the Company’s reported net income.

The Company utilizes a

two-step

approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining whether the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50 percent likely of being realized and effectively settled. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments, and that may not accurately forecast actual outcomes. The Company recognizes interest and penalties accrued related to unrecognized tax benefits as additional income taxes.

(u)

Recent Accounting Pronouncements

non-emerging

growth companies or (ii) within the same time periods as private companies. The Company has elected to adopt new or revised accounting guidance within the same time period as private companies.

Recently adopted accounting pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”)

2014-09,

Revenue from Contracts with Customers (Topic 606). The revised standard requires an entity to recognize revenue to

depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should also disclose sufficient quantitative and qualitative information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the new standard as of January 1, 2019 using the modified retrospective method under which the cumulative effect of initially applying the new guidance to open contracts as of December 31, 2018 is recognized as an adjustment to the opening balance of retained earnings as of January 1, 2019. In assessing the impact of the new standard to its financial statements, the Company analyzed revenue streams for all open contracts with customers, including by reviewing contracts and current accounting policies and practices to identify differences that would result from applying the requirements under the new standard. Based on the Company’s analysis of open contracts as of December 31, 2018, the adoption of this guidance did not have a material impact on the Company’s financial statements, including its opening balance sheet at the date of initial application, as the timing of revenue recognition under the new standard is not materially different from the Company’s previous revenue recognition policy.

In August 2016, the FASB issued ASU

2016-15,

Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. The Company adopted the standard on January 1, 2019 and the change did not have a material impact on the Company’s financial statements.

In January 2017, the FASB issued ASU

2017-04,

Intangibles-Goodwill and Other (Topic 350), which modifies the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. In order to reduce complexity, an entity no longer will determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. ASU

2017-04

is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. The Company adopted the standard on January 1, 2019, and it did not have a material impact on the Company’s financial statements.

Recently issued accounting pronouncements

In February 2016, the FASB issued ASU

2016-02,

2016-02

on the Company’s consolidated financial statements.

In June 2016, the FASB issued ASU

2016-13,

effective for the Company beginning in fiscal year 2023 with early adoption is permitted. The Company is currently evaluating the impact of adopting ASU

2016-13

on the Company’s consolidated financial statements.

In December 2019, the FASB issued ASU

2019-12,

Income Taxes (Topic 740). The revised standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. ASU

2019-12

also improves consistent application of and simplifies other areas of Topic 740 by clarifying and amending existing guidance. The ASU will be effective for the Company beginning in fiscal year 2022. The Company is currently evaluating the impact of adopting ASU

2019-12

on the Company’s consolidated financial statements.

(v)

COVID-19

During the first quarter of 2020, there was a global outbreak of a novel coronavirus

(“COVID-19”),

which has spread to over 200 countries and territories, including all states in the United States. The global impact of the outbreak has been rapidly evolving and many countries have reacted by instituting quarantines and restrictions on travel, closing financial markets and/or restricting trading, and limiting operations of

non-essential

businesses. Such actions are creating disruption in global supply chains, increasing rates of unemployment and adversely impacting many industries. The outbreak could have a continued adverse impact on economic and market conditions and trigger a period of global economic slowdown. The full extent of the impact and effects of the

COVID-19

pandemic will depend on future developments, including, among other factors, the duration and spread of the outbreak, along with related travel advisories, quarantines and restrictions, the recovery time of the disrupted supply chains and industries, the impact of labor market interruptions, the impact of government interventions, and uncertainty with respect to the duration of the global economic slowdown.

In early March, 2020, our business faced challenges in operational enablement across our locations. We mobilized a centralized crisis response team to implement a fully virtual operating model, with a focus on the health and safety of our employees, and continued service for our clients. The shift entailed significant challenges including reconfiguring IT infrastructure and delivering over 14,000 personal computers, laptops and wireless internet cards to a majority of our employees’ homes, under stringent transport restrictions. In addition, we have paused certain

on-site

amenities for our employees, such as free on site meals, until all our normal operations can be safely resumed.

On March 27, 2020, in the United States, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the

COVID-19

In addition to the operating interventions and CARES Act provisions discussed above, we also conducted a comprehensive review of our cost structure in order to build efficiencies across functions and implemented robust working capital controls to maintain cash conversion and compliance with covenants. While there were costs associated with the transformations mentioned above and certain customer receivables were

written-off,

we do not currently expect a significant impact to our liquidity or our ability to continue as a going concern. We continue to closely monitor the outbreak and the impact on our operations and liquidity.

(w)

Revision of financial statements

The Company determined that it had improperly classified the cash outflows related to purchases of property and equipment for the years ended December 31, 2020 and 2019. The improper classification of cash outflows related to purchases of property and equipment resulted in an understatement of net cash flows provided by operating activities and an understatement of net cash flows used in investing

activities for the year ended December 31, 2020. The improper classification of cash outflows related to purchases of property and equipment resulted in an overstatement of net cash flows provided by operating activities and an overstatement of net cash flows used in investing activities for the year ended December 31, 2019. In addition, the Company adjusted the presentation of unrealized foreign exchange gains and losses on forward contracts on the statement of cash flows for the years ended December 31, 2020 and 2019, which had an impact on changes in other receivables, prepaid expenses, and other current assets but no impact to net cash flows provided by operating activities.

The Company assessed the materiality of the misstatement resulting from the improper classification of cash outflows related to purchase of property and equipment in accordance with Staff Accounting Bulletin (“SAB”) 99,

Materiality

, and SAB 108,

Considering the Effects of Prior Year Misstatements when

Quantifying Misstatements in Current Year Financial Statements,

and concluded that the error was not qualitatively material to the prior consolidated financial statements. However, the Company revised its financial statements to correct the error.

The error had no impact on the Consolidated Statement of Income and Consolidated Balance Sheets for the years ended December 31, 2020 and 2019.

The impact of these adjustments on the respective line items within the Company’s Consolidated Statement of Cash Flows for the year ended December 31, 2020 and 2019 is as follows:


	Year ended December 31, 2020									Year ended December 31, 2019
(in thousands)	Previously Reported			Adjustments			As Revised			Previously Reported			Adjustments			As Revised
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized foreign exchange losses (gains) for forward contracts	$	—		$	84		$	84		$	—		$	(1,069	)	$	(1,069	)
Changes in operating assets and liabilities:
Other receivables, prepaid expenses, and other current assets		(3,684	)		(84	)		(3,768	)		(4,771	)		1,069			(3,702	)
Accounts payable and accrued liabilities		5,468			8,067			13,535			(645	)		(1,415	)		2,060

Net cash provided by operating activities		50,806			8,067			58,873			45,204			(1,415	)		43,789

Cash flows from investing activities:
Purchase of property and equipment		(20,816	)		(8,067	)		(28,883	)		(21,460	)		1,415			(20,045	)

Net cash used in investing activities	$	(20,816	)	$	(8,067	)	$	(28,883	)	$	(21,460	)	$	1,415		$	(20,045	)

Revenue

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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:


	Six months ended June 30,
(in thousands)	2021		2020
Digital Customer Experience	$	213,277	$	136,562
Content Security		79,122		57,614
AI Operations		40,494		22,653

Service Revenue	$	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:


	Six months ended June 30,
(in thousands)	2021		2020
Philippines	$	180,259	$	118,716
United States		109,687		84,074
Rest of World		42,947		14,039

Service Revenue	$	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.

(3) Revenue

Disaggregation of Revenue


	Year ended December 31, 2020		Year ended December 31, 2019
(in thousands)
Digital Customer Experience	$	300,424	$	206,471
Content Security		127,657		104,259
AI Operations		49,965		48,951

Service Revenue	$	478,046	$	359,681


	Year ended December 31, 2020		Year ended December 31, 2019
(in thousands)
Philippines	$	267,687	$	208,983
United States		171,476		132,962
Rest of World		38,883		17,736

Service Revenue	$	478,046	$	359,681

Contract Balances

Accounts receivable, net of allowances includes $47.4 million and $32.1 million of unbilled revenues as of December 31, 2020 and 2019, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Forward Contract Receivable

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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 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 six months ended June 30, 2021 and 2020, realized gains of approximately $1.4 million and $1.6 million, respectively, resulting from the settlement of forward contracts were included within other (income) expense.

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 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

risk of the Company and the counterparties did not have a material impact on the fair value of the derivative instruments.

The Company has implemented the fair value accounting standard for those assets that are

re-measured

and reported at fair value at each reporting period. This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value based on inputs used, and requires additional disclosures about fair value measurements. This standard applies to fair value measurements already required or permitted by existing standards.

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.

(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 2020 and 2019, 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 in the consolidated statements of income.

For the years ended December 31, 2020 and 2019 the Company settled forward contracts with total notional amounts of approximately $88.0 million, and $61.0 million, respectively. For the years ended December 31, 2020 and 2019, realized gains of approximately $5.1 million and $2.5 million, respectively, resulting from the settlement of forward contracts were included within other income.

For the years ended December 31, 2020 and 2019, the Company had outstanding forward contracts with notional amounts of approximately $109.2 million and $82.0 million, respectively. The forward contract receivable resulting from change in fair value was recorded under other current assets. For the years ended December 31, 2020 and 2019, the unrealized (losses) gains on the forward contracts of $(0.1) million and $1.1 million, respectively, were included within other income.

non-performance

risk of the Company and the counterparties did not have a material impact on the fair value of the derivative instruments

The Company has implemented the fair value accounting standard for those assets that are

re-measured

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2020 and 2019 and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.


	Fair value measurements using
	As of December 31, 2020		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
(in thousands)
Forward contract receivable	$	1,780		—		1,780		—

	Fair value measurements using
	As of December 31, 2019		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
(in thousands)
Forward contract receivable	$	1,864		—		1,864		—

Property and Equipment, net

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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, 2021			December 31, 2020
(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, 2021		December 31, 2020
(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

(5) Property and Equipment, net

The components of Property and equipment, net at December 31, 2020 and 2019 were as follows:


	December 31, 2020			December 31, 2019
(in thousands)
Leasehold improvements	$	31,654		$	21,850
Technology and computers		47,572			23,402
Furniture and fixtures		4,203			3,551
Construction in process		5,194			12,877
Other property and equipment		5,995			2,469

Property and equipment, gross		94,618			64,149
Accumulated depreciation		(37,661	)		(19,073	)

Property and equipment, net	$	56,957		$	45,076

Depreciation expense for the years ended December 31, 2020 and 2019 was $20.2 million and $16.3 million, respectively.

The Company had disposals of Property and equipment totaling $1.1 million and $2.2 million during 2020 and 2019, respectively, mainly due to the assets disposed of related to the lease termination in Santa Monica Headquarters and San Antonio and temporary sites that were vacated as we moved to permanent locations in Tijuana, San Antonio and Santa Monica. We recognized losses from disposal of assets during the years ended December 31, 2020 and 2019 of $1.1 million and $2.2 million, respectively.


	December 31, 2020		December 31, 2019
(in thousands)
Philippines	$	37,823		25,938
United States		8,983		12,967
Rest of World		10,151		6,171

Total Property and equipment, net	$	56,957		45,076

Goodwill and Intangibles

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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 $195.7 million.

Intangible assets consisted of the following as of June 30, 2021 and December 31, 2020:


	Intangibles, Gross		Life (Years)		Accumulated Amortization			Intangibles, Net
(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, Gross		Life (Years)		Accumulated Amortization			Intangibles, Net
(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

(6) Goodwill and Intangibles

The carrying amount of goodwill as of December 31, 2020 and 2019 was $195.7 million.

As of October 1, 2020, the Company opted to bypass the qualitative assessment and proceeded directly to performing a quantitative goodwill impairment test. As a result of the quantitative assessment, the Company determined that the carrying value of the reporting unit did not exceed its fair value. The Company performed a qualitative assessment as of December 31, 2019 and determined that there were no changes in circumstances that would indicate the carrying value of the reporting unit exceeded fair value. Therefore, no impairment losses were recognized as of December 31, 2020 and 2019.

Intangible assets consisted of the following as of December 31, 2020 and 2019:


	Intangibles, Gross		Life (Years)		Accumulated Amortization			Intangibles, Net
(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


	Intangibles, Gross		Life (Years)		Accumulated Amortization			Intangibles, Net
(in thousands)
Customer relationships	$	240,800		15		(20,067	)		220,733
Trade name		41,900		15		(3,491	)		38,409

Balance as of December 31, 2019	$	282,700				(23,558	)		259,142

Amortization expense of the intangible assets for the years ended December 31, 2020 and 2019 was $18.8 million and $18.8 million, respectively. As of December 31, 2020, the remaining weighted average amortization period of the above intangible assets was approximately 13 years.

Future amortization expense for intangible assets subject to amortization is:


(in thousands)
2021	$	18,847
2022		18,847
2023		18,847
2024		18,847
2025		18,847
Thereafter		146,060

Total	$	240,295

Long-Term Debt

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

(7) Long-Term Debt

The balances of current and

non-current

portions of debt consist of the following as of June 30, 2021:


(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 $210.0 million term loan (the “Term Loan Facility”) and a $40.0 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 $50.0 million incremental revolving credit commitments on the same terms as our existing revolving credit 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 equal to installments in an aggregate annual amount equal to (i) 1.0% per annum of the original principal amount in the first year, (ii) 2.5% per annum of the original principal amount in the second year, (iii) 5.0% per annum of the original principal amount in the third year, (iv) 7.5% per annum of the original principal amount in the fourth year and (v) 10.0% per annum of the original principal amount in the fifth year, with the remaining principal due in a lump sum at the maturity date of September 25, 2024. The interest rate in effect with respect to the Term Loan Facility as of June 30, 2021 was 2.345%.

The Revolving Credit Facility provides the Company with access to a $15.0 million letter of credit facility and a $5.0 million swing line facility, each of which, to the extent used, reduces borrowing availability under the Revolving Credit Facility. The Revolving Credit Facility expires on September 25, 2024, and requires a commitment fee of 0.4% on undrawn commitments paid quarterly 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.

(7) Long-Term Debt

The balances of current and

non-current

portions of debt consist of the following as of December 31, 2020:


(in thousands)	Current			Noncurrent			Total
Term Loan	$	6,563			200,025			206,588
Revolver		39,878			—			39,878
Less: Debt financing fees		(457	)		(1,257	)		(1,714	)

Total	$	45,984			198,768			244,752

2018 Credit Agreement

On October 1, 2018, the Company entered into a credit agreement with respect to an $85.0 million term loan facility, $15.0 million delayed draw term loan commitments, and a $20.0 million revolving credit facility (the “2018 Credit Agreement”). Principal payments on the term loan were due quarterly in arrears in installments of $0.2 million with the remaining principal due in a lump sum at the maturity date of October 1, 2023. Interest was, at the Company’s option, either based on the base rate or Eurocurrency interest rate. The Company elected the Eurocurrency rate option as of December 31, 2018. Interest under this option was at the rate of LIBOR (with a floor of 1.00%) plus 3.75%, with step-ups to 4.00%, or 4.25% based on the Company’s total net leverage ratio. Voluntary principal prepayments were permitted. If a prepayment were to be made within the first six months of the closing of the credit agreement in connection

with certain repricing transactions, then it would have been subject to a prepayment fee of 1.00% of the amount prepaid. As of December 31, 2018, the Company has made no prepayments. The credit agreement also allowed for additional debt to be issued under the delayed draw term loan commitments. These additional debt commitments were available for 24 months after the closing of the credit agreement subject to the same terms as the term loan. The delayed draw term loan commitments were subject to a 1.0% ticking fee on the average daily undrawn commitments to be paid quarterly in arrears. As of December 31, 2018, no borrowing had been made under the delayed draw term loan commitment. The revolver provided the Company with access to a $15.0 million letter of credit facility and a $5.0 million swing line facility, each of which, to the extent used, reduces borrowing availability under the revolver. The revolver was scheduled to terminate on October 1, 2023. Interest on borrowing under the revolver was, at the Company’s option, either based on the base rate or a Eurocurrency interest rate, with the exception of swing line borrowings, which were always at the base rate. The Company elected the Eurocurrency rate option for its revolving borrowing which were subject to the same interest rate that applied to the term loan. Interest for a swing line loan was at the base rate (with a floor of 2.00%) plus 2.75%, with step ups to 3.00% or 3.25% based on the Company’s total net leverage ratio. The revolver also required a commitment fee of 0.5% of undrawn commitments to be paid quarterly in arrears. There were no borrowings outstanding under the revolver facility as of December 31, 2018.

The Company incurred $2.6 million of debt financing fees related to the issuance of the term loans, which were amortized to interest expense using the straight-line method over the term of the related debt facility.

Prior to the extinguishment of the 2018 Credit Agreement, the Company recorded financing expense related to the amortization of these debt financing fees of $0.4 million for the year ended December 31, 2019. On September 25, 2019, the total outstanding debt under the 2018 Credit Agreement of $84.6 million was fully repaid and the remaining $2.0 million of unamortized debt financing fees were charged to interest expense.

2019 Credit Agreement

On September 25, 2019, the Company entered into a credit agreement with new lenders with respect to a $210.0 million term loan facility and a $40.0 million revolving credit facility (collectively, the “2019 Credit Facility”). Principal payments on the term loan are due quarterly in arrears equal to installments in an aggregate annual amount equal to (i) 1.0% per annum of the original principal amount of the initial term loan in the first year, (ii) 2.5% per annum of the original principal amount of the initial term loan in the second year, (iii) 5.0% per annum of the original principal amount of the initial term loan in the third year, (iv) 7.5% per annum of the original principal amount of the initial term loan in the fourth year and (v) 10.0% per annum of the original principal amount of the initial term loan in the fifth year, with the remaining principal due in a lump sum at the maturity date of September 25, 2024. Voluntary principal prepayments are permitted. Interest is, at the Company’s option, either based on the base rate or Eurocurrency interest rate. The Company elected the Eurocurrency rate option as of December 31, 2020. Interest under this option with respect to the term loans is at the rate of LIBOR plus 2.25% (with a floor of 0.0%). The interest rate in effect with respect to the term loans as of December 31, 2020 was 2.40%. The revolver provides the Company with access to a $15.0 million letter of credit facility and a $5.0 million swing line facility, each of which, to the extent used, reduces borrowing availability under the revolver. The revolver terminates on September 25, 2024. Interest on borrowing under the revolver is, at the Company’s option based on the base rate or Eurocurrency interest rate, with the exception of swing line borrowings, which are always based on the base rate. The Company elected the Eurocurrency rate option for borrowings under the revolver, and the revolver is subject to the same interest rate that applies to the term loan. The interest rate in effect for the outstanding borrowings under the revolver as of December 31, 2020 was 2.40%. Interest for a swing line loan is at the base rate. The revolver also requires a commitment fee of 0.4% of undrawn commitments to be paid quarterly in arrears. There were outstanding borrowings on the revolver facility of $39.9 million as of December 31, 2020.

The Company incurred $2.3 million of debt financing fees related to the issuance of the term loans in the 2019 Credit Facility, which are being amortized to interest expense using the straight-line method over the

term of the related debt facility. The Company recorded financing expense related to the amortization of these debt financing fees of $0.5 million and $0.1 million for the year ended December 31, 2020 and the period from September 25, 2019 through December 31, 2019, respectively. The carrying amount of the Company’s total outstanding debt, net of debt financing fees, was $244.8 million as of December 31, 2020.

The 2019 credit agreement contains a financial covenant requiring compliance with a maximum total net leverage ratio and certain other covenants, including covenants restricting additional borrowings, capital expenditures, and distributions. The Company was in compliance with these covenants as of December 31, 2020. Certain assets of TU Midco, Inc. and substantially all assets of TU BidCo, Inc. and its material domestic subsidiaries are pledged as collateral under this agreement, subject to certain customary exceptions.

Principal maturities of the outstanding debt as of December 31, 2020 are as follows:


(in thousands)
2021	$	46,441
2022		11,813
2023		17,062
2024		171,150
2025		—

Total	$	246,466

Commitments and Contingencies

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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 Consideration

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.

(8) Commitments and Contingencies

(a)

Operating Leases

Leases that do not transfer to the Company substantially all the risks and benefits of ownership of the asset are classified as operating leases. Operating lease payments (net of any incentive received from the lessor) are recognized as expense in profit or loss on a straight-line basis over the lease term.

Associated costs, such as repairs, maintenance, and insurance, are expensed as incurred. The Company determines whether an arrangement is, or contains, a lease based on the substance of the arrangement. It makes an assessment of whether the fulfillment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset. The Company has various leases for office spaces under noncancelable operating lease agreements.

During the year ended December 31, 2020, the Company executed modification agreements with landlords for eight of our leased facilities which included concessions in the form of rent credits. The modification did not extend the terms of the leases nor did they grant us additional rental space. In April 2020, the FASB issued guidance allowing entities to make a policy election whether to account for lease concessions related to the

COVID-19

pandemic as if the enforceable rights and obligations of the concessions existed in the contracts at lease inception. The election applies to any lessor-provided lease concession related to the impact of the

COVID-19

pandemic, provided the concession does not result in a substantial increase in the rights of the lessor or in the obligations of the lessee. The Company has decided not to take the policy election and has accounted for these rent concessions as a change in lease provisions. The recognition of rent concessions did not have a material impact on the consolidated financial statements as of December 31, 2020.

During the year ended December 31, 2020, the Company terminated its lease at its former Santa Monica Headquarters and San Antonio, which were due to expire in 2022 and 2023. As a result of such terminations, the Company recorded lease termination cost of $1.8 million.

Minimum rent payments under operating leases are recognized on a straight-line basis over the term of the lease, including any periods of free rent. Rental expense for years ended December 31, 2020 and 2019 was $11.1 million and $8.9 million, respectively.

Future minimum rental commitments under noncancelable operating leases as of December 31, 2020:


(in thousands)
2021	$	12,313
2022		13,366
2023		10,224
2024		6,971
2025		5,871
Thereafter		—

Total	$	48,745

(b)

Legal Proceedings

(c)

Contingent Consideration

On October 1, 2018, Bidco acquired 100% of the outstanding shares of TaskUs Holdings, Inc. (formerly known as TaskUs, Inc.) at a purchase price of $429.4 million (the “Transaction”). Bidco is a wholly owned subsidiary of TaskUs, Inc. (formerly known as TU Topco, Inc.) and was used as a vehicle to consummate TaskUs, Inc.’s acquisition of TaskUs Holdings, Inc. Bidco is consolidated into TaskUs, Inc.’s financial statements.

The Transaction was accounted for using the acquisition method of accounting in accordance with FASB ASC Topic 805, Business Combinations. In accordance with this accounting standard, since there was a change in control, the Company recorded the acquired assets and liabilities assumed of TaskUs at fair value.

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. During the year ended December 31, 2020, the Company determined that $3.6 million in tax benefits were receivable by the Company and such amount would become payable to the sellers of TaskUs Holdings, Inc. upon receipt of the cash. As such, 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 consolidated balance sheets as of December 31, 2020.

Employee Compensation

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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 5,114,890 and 6,514,360, respectively. There were 1,399,470 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 settlement totaling $127.5 million recorded in selling, general, and administrative expense on the condensed consolidated statements of operations for the 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 zero 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 option awards contain service, market and performance conditions. Stock options under this plan contingently vest over a period of two years in the event of a change in control and over a period of three years in the event of an IPO (each as defined in such plan), with the vesting period beginning on the date of the performance event so long as the holder remains employed. The amount of options eligible for vesting is contingent upon Blackstone’s return on invested capital in the Company. These options have contractual lives of 10 years. Following the IPO and establishment of the 2021 Omnibus Incentive Plan (the “2021 Plan”) as further discussed below, it is not expected 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, which provides for the issuance of

non-qualified

stock options, incentive stock options, stock appreciation rights (“SARs”), restricted shares of Class A common stock, restricted stock units (“RSUs”), or other equity-based or cash-based awards. A total of 12,160,929 shares of Class A common stock were initially reserved for issuance under the 2021 Plan, subject to automatic annual evergreen increases. On June 10, 2021 in connection with the IPO, the Company granted time-based RSUs, performance-based restricted stock units (“PSUs”), and time-based stock options to its founders and certain other officers and employees under the 2021 Plan.

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 estimated using the Black-Scholes option pricing method with the following assumptions:


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 its founders and certain officers and employees with a weighted-average grant date fair value of $23.00. The RSUs are typically subject to service-based vesting conditions and will vest in equal quarterly or annual installments over four years. The related stock-based compensation expense is recognized using a graded vesting method.

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 consolidated statements of operations for the six months ended June 30, 2021:


	Six months ended June 30,
	2021		2020
(in thousands)
Cost of services	$	51	$	—
Selling, general and administrative expense		133,216		—

Total	$	133,267	$	—

(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 plan and agreements establish key terms and conditions of the grants, including amount of shares reserved for the grant, amount granted to an employee, vesting, and forfeiture terms. The phantom stock awards are to be settled in cash upon an initial public offering (“IPO”) or in a similar form as the method of purchase used by a future acquirer upon an occurrence of a change in control (each as defined in such plan). Employees are permitted to retain vested phantom shares in the case of employment termination, except in cases of termination for cause.

In connection with the Blackstone Acquisition, the phantom stock awards associated with the plan were settled partially in cash and partially in rollover shares in accordance with the terms of the plan. Because the change in control became probable immediately prior to the business combination, TaskUs Holdings

recognized a liability for the amount of the cash settlement, which was assumed by TaskUs in the acquisition. The settlement of these awards was contingent upon the successful consummation of the business combination. Cash payouts related to these awards totaled $43.2 million, a portion of which was funded by TaskUs and included in purchase consideration. The remainder was recorded as a liability in accrued payroll and employee-related liabilities on the consolidated balance sheets as of December 31, 2018 and fully paid as of December 31, 2019.

Additionally, as a result of the Blackstone Acquisition, holders of phantom stock awards were eligible to receive rollover phantom stock in the Company. The contractual lives and the vesting conditions for the rollover phantom stock vary depending on the employment status of the holder at the acquisition date. Former employees who held vested phantom shares in TaskUs Holdings at the date of the Blackstone Acquisition received rollover phantom shares in TaskUs that vested immediately and have an expiration date of June 19, 2022. Phantom stock held by those employed by the Company at the date of the Blackstone Acquisition received rollover phantom shares that vest 25% per annum, with monthly vesting after the first year anniversary of the Blackstone Acquisition, and have an expiration date of October 1, 2025. All other terms are substantially the same as the plan and the agreements as discussed above and will be settled in cash upon an IPO or in a similar form as the method of purchase used by a future acquirer upon an occurrence of a change in control. Management determined that these triggering events were not probable, and as such no liability or expense was recorded for the years ended December 31, 2020 and 2019 related to the rollover shares.

The number of outstanding phantom shares at January 1, 2020 and December 31, 2020 were 6,623,090 and 6,514,360 respectively. There were 150,000 phantom shares granted and 258,730 phantom shares forfeited during the year ended December 31, 2020. Of the outstanding phantom shares, 4,607,380 are contractually vested but can only be settled upon an occurrence of a change in control or an IPO as discussed above.

The fair value of the vested and unvested phantom share awards that represents unrecognized expense for the years ended December 31, 2020 and 2019 will be equal to management’s best estimate at each period of the cash settlement that would be paid upon change in control or IPO. When an IPO or change in control occurs, the Company will recognize expense equal to the amount of settlement.

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 option awards contain service, market and performance conditions. Stock options under this plan contingently vest over a period of two years in the event of a change in control and over a period of three years in the event of an IPO (each as defined in such plan), with the vesting period beginning on the date of the performance event so long as the holder remains employed. The amount of options eligible for vesting is contingent upon Blackstone’s return on invested capital in the Company. These options have contractual lives of 10 years. The Company reserves 11,113,730 common shares for issuance pursuant to these options.

The following shows the stock option activity for the year ended at December 31, 2020:


	Number of options		Weighted - average grant date fair value		Weighted - average exercise price
Nonvested at January 1, 2020		5,320,800	$	0.39	$	3.51
Granted		3,887,970		1.65		8.32
Forfeited		749,670		0.46		3.85

Nonvested at December 31, 2020		8,459,100	$	0.97	$	5.69

For the years ended December 31, 2020 and 2019, no change in control, IPO or liquidity event actually occurred or was imminent. Therefore, none of the options are vested nor currently exercisable, and no expense was recorded for the years ended December 31, 2020 and 2019 given the performance condition

was not probable. For the years ended December 31, 2020 and 2019, there was $8.8 million and $2.3 million of unrecognized compensation expense related to the Company’s nonvested stock options. Upon the occurrence of an IPO or change in control, the grant date fair value for the awards will begin to be expensed using a graded vesting method. At the time of the IPO or change in control, a portion of the unrecognized compensation expense related to nonvested stock options granted to employees is expected to be recognized immediately based on the service already provided by the employee at the time of such event. The remaining unrecognized compensation expense will be recognized over the next year following a change in control, or over the next 2 years in the case of an IPO, again based on the proportion of service provided.

The fair value of the stock options were estimated under an option pricing framework, using a combination of Monte Carlo simulation analysis and a Black-Scholes option pricing method. A Monte Carlo simulation was first used to determine the number of options eligible for vesting, then a Black-Scholes model was used to estimate the value for the vested options given the simulated scenario, with the assumption that vested options will be exercised at the

mid-point

from the vesting date to its maturity date. Key assumptions in performing the option valuation include the expected time to liquidity event, total equity value, value per common share, discount for lack of marketability to be applied to the common shares, and volatility of the common shares. The volatility of the common shares was estimated based on the observed equity volatility of publicly traded comparable companies. For options granted during the year ended December 31, 2020, management assumed an expected time to liquidity of 0.5 to 4.5 years, with equal likelihood for an IPO or a Change in Control event.

Income Taxes

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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 $(3.5) million and $2.0 million in the six months ended June, 2021 and 2020, respectively the effective tax rate was 3.7% and 17.1% for the six months ended June 30, 2021 and 2020. The difference between the effective tax rates and the 21% federal statutory rate in the six months ended June 30, 2021 was primarily due to global intangible

low-taxed

income (“GILTI”) inclusion, tax benefits of income tax holidays in foreign jurisdiction, and nondeductible compensation of officers. The difference between the effective tax rates and the 21% federal statutory rate in the six months ended June 30, 2020 was primarily due to GILTI inclusion, FDII deduction and tax benefits of income tax holidays in foreign jurisdiction.

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.

subsidiaries. Determination of the amount of any unrecognized deferred income tax liability on the temporary difference is not practicable because of the complexities of the hypothetical calculation.

(10) Income Taxes

For the years ended December 31, 2020 and 2019, domestic and foreign pretax income from continuing operations were $22.6 million and $21.8 million, $14.5 million and $15.0 million, respectively.

The provision for (benefit from) income taxes consists of the following, as of the dates indicated:


	December 31, 2020			December 31, 2019
(in thousands)
Current:
Federal	$	10,974			2,836
State		3,411			567
Foreign		2,522			1,024

		16,907			4,427

Deferred:
Federal		(5,692	)		2,871
State		(875	)		(11,578	)
Foreign		(454	)		(131	)

		(7,021	)		(8,838	)

Total	$	9,886			(4,411	)

The following table presents the tax effects of temporary differences that gives rise to significant portions of deferred tax assets and deferred tax liabilities as of the dates indicated:


	Year ended December 31, 2020			Year ended December 31, 2019
(in thousands)
Deferred Tax Assets
Accruals	$	3,234			328
Deferred Rent		37			118
Allowances and reserves		637			41
Intercompany payable		826			658
Foreign Tax Credit		239			338
State taxes		947			1,018
Deferred Revenue		—			482
Other		431			—

Total Deferred Tax Assets	$	6,351			2,983

Deferred Tax Liabilities
Intangibles		(54,907	)		(59,310	)
Fixed Assets		(1,519	)		(663	)
Unrealized foreign exchange gain		(276	)		(382	)

Total Deferred Tax Liabilities	$	(56,702	)		(60,355	)

Net Deferred Tax Liabilities	$	(50,351	)		(57,372	)

As of December 31, 2020, the Company had foreign tax credits of $0.2 million. Foreign tax credits will begin to expire in 2028 if not utilized.

The following is a reconciliation stated as a percentage of pretax income of the federal income tax effective rate (21%) to the Company’s effective tax rate:


	Year ended December 31, 2020			Year ended December 31, 2019
Federal tax rate		21	%		21	%
State taxes, net of federal benefit		2			(28	)
Other permanent differences		6			2
GILTI Inclusion		6			5
FDII		(4	)		(1	)
RTP		—			(1	)
Foreign jurisdiction income tax holiday		(11	)		(11	)
Foreign tax credit		(3	)		(2	)
Foreign tax rate differential		3			—
Deferred True-Up		—			(1	)
FIN48		4			—
Other adjustments		(2	)		1

Effective tax rate		22	%		(15	)%

For the year ended December 31, 2020, the effective tax rate differed from the statutory rate of 21%, primarily due to global intangible

low-taxed

income (“GILTI”) inclusion, foreign-derived intangible income (“FDII”) deduction, tax benefits of income tax holidays in foreign jurisdiction, and unrecognized tax benefits.

For the year ended December 31, 2019, the state rate is attributable to the revaluation of net state deferred tax assets and liabilities related to the decrease in a state rate from 6.8% to 1.9% for the tax year 2018 and

2019, respectively. The decrease in the state rate is driven by refining the Company’s revenue sourcing methodologies in key state tax jurisdictions reducing state apportionment.

The Company assessed the available positive and negative evidence to estimate whether it was more likely than not that some portion, or all, of the deferred tax assets would be realized. Evidence of sources of taxable income and the pattern and timing of the reversal of the temporary differences were sufficient to support a conclusion that a valuation allowance was not needed. Therefore, the Company determined that it was more likely than not that the deferred tax assets would be realized.

We operate under tax holiday in the Philippines, which is effective through December 31, 2020, and may be extended if certain additional requirements are satisfied. The tax holidays are conditional upon our meeting certain employment and investment thresholds. The impact of these tax holidays decreased foreign taxes by $6.5 million and $4.3 million for the years ended December 31, 2020 and 2019, respectively. The benefit of the tax holidays on net income per share (diluted) was $0.71 and $0.46 for the years ended December 31, 2020 and 2019, respectively.

As of December 31, 2020, unremitted earnings of the subsidiaries outside of the U.S. are approximately $89.4 million, which the Company has not made a provision for U.S. or additional foreign withholding taxes and state taxes. The Company’s practice and intention are to indefinitely reinvest these earnings outside the U.S. Determination of the amount of any unrecognized deferred income tax liability on this temporary difference is not practicable because of the complexities of the hypothetical calculation.

On March 27, 2020, in the United States, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the

COVID-19

pandemic. The CARES Act, among other things, permits net operating loss (“NOL”) carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021 and the deferral of employer taxes. We have chosen to avail ourselves of these CARES Act provisions for NOL carryover and carrybacks and the deferral of employer taxes. The Company has carried back net operating losses originating in the period from October 1, 2018, through December 31, 2018, to claim a refund for taxes paid in fiscal 2015, 2016, 2017, and the period from January 1, 2018, through September 30, 2018, resulting in an expected refund of approximately $5.2 million. As a result of NOL carryback, as of December 31, 2020, the Company reduced the 2017 transition tax liability to $1.0 million. Under the CARES Act, the Company received a net cash benefit of $5.3 million from the deferral of social security taxes otherwise due from April 10, 2020 through the year ended December 31, 2020.

One-half

of the deferred amount is due no later than December 31, 2021 and the second half no later than December 31, 2022.

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows (in thousands):


	Year ended December 31, 2020
(in thousands)
UTB Tabular Rollforward
Uncertain tax benefit balance as of 1/1/2020	$	—
Gross increases/(decreases) - tax positions for current period		875
Gross increases/(decreases) - tax position in prior periods		1,044

Uncertain tax benefit balance as of 12/31/2020	$	1,919

As of December 31, 2020, the Company had approximately $1.6 million of unrecognized tax benefits that if recognized would affect the effective income tax rate. The Company estimates no material changes to its uncertain tax positions within the next 12 months.

We recognize interest and penalties related to uncertain tax positions as components of provision for (benefit from) income taxes. As of December 31, 2020, we accrued interest and penalties of $0.1 million and $0.1 million, respectively.

The Company files income tax returns in US federal and state jurisdictions, as well as in the Philippines, Canada, India, Greece, Mexico, and the UK. In 2020, the Company established business operations in Ireland and Colombia for which the Company will be subject to tax. As of December 31, 2020, the tax years 2017 to 2020 are subject to examination by federal tax authorities (including the Philippines and Canada) and the tax years 2016 to 2020 are subject to examination by state taxing jurisdictions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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-Section 50
-Paragraph 2
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Shareholders' Equity	6 Months Ended	12 Months Ended
Shareholders' Equity	Jun. 30, 2021	Dec. 31, 2020
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 forward stock split of its outstanding common stock and authorized three classes of ownership interests: (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 stock split, all outstanding shares of common stock were reclassified into an equal number of shares of Class B common stock (the “Class B Reclassification”) and the selling shareholders participated equally in the Class B Reclassification. 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 $23 per share. The Company received net proceeds of $120.7 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 $127.5 million in respect of vested phantom shares in the third quarter of 2021.	(11) Shareholders’ Equity Authorized capital stock of TaskUs consisted of 100,000,000 shares of common stock. TaskUs had 91,737,020 shares of $0.01 par value Common Stock issued and outstanding as of December 31, 2020 and 2019. TaskUs common stock entitles holders to participate in all matters requiring votes of shareholders, receive dividends when declared, and is not convertible. On October 2, 2019, TaskUs Holdings made a cash distribution of $12.0 million to Bidco which was declared by the Board of Directors as dividend payment. On October 2, 2019, Bidco made a cash distribution of $135.0 million to Midco, then from Midco to TaskUs, then from TaskUs to its shareholders as declared by the Board of Directors as dividend payment.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 14
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 14
-Subparagraph (b)
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Paragraph 18
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

(Loss) Earnings Per Share

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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

method, as earnings per share are the same for both Class A common stock and Class B common stock. 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.

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 summarized the computation of basic and diluted earnings per share for the six months ended June 30, 2021 and 2020:


	Six months ended June 30,
(in thousands, except share and per share data)	2021			2020
Numerator:
Net (loss) income Available to Common Shareholders	$	(89,436	)	$	9,523

Denominator:
Weighted-average common stock outstanding - basic and diluted		92,347,257			91,737,020
Net (loss) income per share:
Basic and diluted	$	(0.97	)	$	0.10

Since we were in a net loss position for the 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 and 29,256 potential common stock equivalents from the computation of diluted EPS for the six months ended June 30, 2021, respectively, because the effect would have been anti-dilutive. In addition, we excluded 4,599,736 and 2,299,868 potential common stock equivalents from the computation of diluted EPS for the six months ended June 30, 2021, respectively, since we were in a net loss position; however, these awards would have been dilutive if we were in a net income position. As of June 30, 2021, there were 5,352,056 potential common stock equivalents outstanding, with market conditions which were not met at that date, that were excluded from the calculation of diluted EPS.

(12) Earnings Per Share

The following table summarized the computation of basic and diluted earnings per share for the years ended December 31, 2020 and 2019:


(in thousands, except share data)	Year ended December 31, 2020		Year ended December 31, 2019
Numerator:
Net Income From Continuing Operations Available to Common Shareholders	$	34,533		33,940


Denominator:
Weighted-average common stock outstanding - basic and diluted		91,737,020		91,737,020

Net income per share:
Basic and diluted	$	0.38		0.37

Related Party	6 Months Ended	12 Months Ended
Related Party	Jun. 30, 2021	Dec. 31, 2020
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 six months ended June 30, 2021, the Company made payments of $0.4 million to Alight. During the six months ended June 30, 2021, the Company made payments of $0.2 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”), North American Bancard, and Custom Ink, entities that are TaskUs customers. During the six months ended June 30, 2021, the Company received payments of $0.8 million, $0.6 million, and $0.7 million from Vivint, North American Bancard and Custom Ink, respectively. Underwriting of IPO Blackstone Securities Partners L.P., an affiliate of Blackstone, served as underwriter of 1,380,000 of the 15,180,000 million shares of Class A common stock sold in the IPO, with underwriting discounts and commissions of $1.265 per share paid by the Company and selling stockholders.	(13) Related Party In connection with the closing of the Blackstone Acquisition, TaskUs and TaskUs Holdings entered into a support and services agreement (the “Support and Services Agreement”) with Blackstone Capital Partners VII L.P. and Blackstone Capital Partners Asia L.P. and Blackstone Management Partners L.L.C. (“BMP”), an affiliate of our Sponsor. Under the Support and Services Agreement, we reimburse BMP and its affiliates for expenses related to support services customarily provided by Blackstone’s portfolio operations group to Blackstone’s portfolio companies, as well as healthcare-related services provided by Blackstone’s Equity Healthcare group and Blackstone’s group purchasing program. The Support and Services Agreement also requires us to, among other things, make certain information available to Blackstone and to indemnify BMP and its affiliates against certain claims. During the years ended December 31, 2020 and 2019, the Company made payments of $0.3 million and $0.1 million, respectively, pursuant to the Support and Services Agreement. 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 Mphasis Limited (“Mphasis”), an entity that supplies TaskUs with certain consulting services. During the year ended December 31, 2020, the Company made payments of $0.2 million. Similarly, from time to time, the Company does business with entities affiliated with members of our Board of Directors, which cannot be presumed to be carried out at an arm’s length basis. A management consulting firm affiliated with a member of our Board of Directors provides consulting services to the Company. During the year ended December 31, 2020, the Company incurred fees related to consulting services provided of $0.3 million.

Subsequent Events	6 Months Ended	12 Months Ended
Subsequent Events	Jun. 30, 2021	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	(14) Subsequent Events Employee Compensation On August 5, 2021, the Company granted 895,820 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 1,357,838 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 9, 2021, the Company made payments of $3.6 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.	(14) Subsequent Events The Company has evaluated subsequent events and have determined that there are no subsequent events that require disclosure.

Subsequent Events (Unaudited)	12 Months Ended
Subsequent Events (Unaudited)	Dec. 31, 2020
Subsequent Events Unaudited [Abstract]
Subsequent Events (unaudited)	(15) Subsequent Events (unaudited) 2021 Dividend On April 9, 2021, the board of directors declared a cash distribution in the aggregate amount of $50 million from TaskUs Holdings, Inc. to Bidco, then from Bidco to Midco, then from Midco to TaskUs, Inc., then from TaskUs, Inc. to holders of our common stock as dividend payment. The cash dividend was paid on April 16, 2021.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Presentation

(a)

Basis of Presentation

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.

(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”).

Forward Stock Split

Use of Estimates

(b)

Use of Estimates

(“COVID-19”)

(b)

Use of Estimates

Principles of consolidation

(c)

Principles of consolidation

(c)

Principles of consolidation

Segments

(d)

Segments

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 six months ended June 30, 2021 and 2020, the following customers represented greater than 10% of the Company’s service revenue:


	Service revenue percentage
	Six months ended June 30,
Customer	2021			2020
A		28	%		32	%
B		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)

Concentration Risk

Most of the Company’s customers are located in the United States. Customers outside of the United States are concentrated in Europe, Canada, and Australia.

For the years ended December 31, 2020 and 2019, the following customers represented greater than 10% of the Company’s service revenue or accounts receivable:


	Service revenue percentage
Customer	Year ended December 31, 2020			Year ended December 31, 2019
A		32	%		35	%
B		12	%		11	%
C		Less than 10	%		Less than 10	%


	Accounts receivable percentage
Customer	Year ended December 31, 2020			Year ended December 31, 2019
A		22	%		15	%
B		16	%		12	%
C		Less than 10	%		10	%

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.

Translation of Non-U.S. Currency Amounts

(f)

Translation of

Non-U.S.

Currency Amounts

We are subject to foreign currency exposure due to our principal operations being located in the Philippines and operations in various other international locations. Assets and liabilities of

non-U.S.

subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars at fiscal

year-end

Accounts Receivable

(g)

Accounts Receivable

Past-due

Debt Financing Fees

(h)

Debt Financing Fees

As of December 31, 2020, amortization of debt financing fees for the next five fiscal years is expected to be as follows:


(in thousands)
2021	$	457
2022		457
2023		457
2024		343
2025		—

Total	$	1,714

Derivative Instruments and Hedging Activities

(i)

Derivative Instruments and Hedging Activities

Accounting Standards Codification (“ASC”) Topic 815,

Derivatives and Hedging

Revenue Recognition

(j)

Revenue Recognition

The Company recognizes revenue from our services in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 606,

Revenue from Contracts with Customers

ASC

340-40,

Other Assets and Deferred Costs—Contracts with customers

non-sales

staff are also required to be capitalized if directly attributable to, and incremental from, obtaining a contract.

Advertising Expense

(k)

Advertising Expense

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, 2021			December 31, 2020
(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


	June 30, 2021		December 31, 2020
(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

(l)

Property and Equipment

Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Long-lived

Intangibles

(m)

Intangibles

Goodwill

(n)

Goodwill

Goodwill is the amount by which the cost of the acquired net assets in a business combination exceeds the fair value of the identifiable net assets on the date of purchase. Goodwill is not amortized.

more-likely-than-not

that the estimated fair value of a reporting unit is less than its carrying amount. If determined that it is

more-likely-than-not

Intangibles—Goodwill and Other

Other Assets

(o)

Other Assets

Other current assets and other noncurrent assets consist primarily of refundable security deposits and input value added tax.

Share-based Compensation

(p)

Share-based Compensation

The Company accounts for its stock-based awards in accordance with provisions of ASC 718,

Compensation - Stock Compensation

Employee Benefits

(q)

Employee Benefits

Retirement benefit reserves represent the cumulative amount of remeasurement of the defined benefit liability arising from actuarial gains and losses due to experience and demographic assumptions.

Commitments and Contingencies

(r)

Commitments and Contingencies

Earnings per share

(s)

Earnings per share

Income Taxes

(t)

Income Taxes

The Company utilizes a

two-step

Recent Accounting Pronouncements

(e)

Recent Accounting Pronouncements

non-emerging

growth companies or (ii) within the same time periods as private companies. The Company has elected to adopt new or revised accounting guidance within the same time period as private companies.

Recently adopted accounting pronouncements

In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”)

2019-12,

Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU

2019-12”).

ASU

2019-12

Recently issued accounting pronouncements

In February 2016, the FASB issued ASU

2016-02,

2016-02

on the Company’s consolidated financial statements.

In June 2016, the FASB issued ASU

2016-13,

2016-13

on the Company’s consolidated financial statements.

(u)

Recent Accounting Pronouncements

non-emerging

growth companies or (ii) within the same time periods as private companies. The Company has elected to adopt new or revised accounting guidance within the same time period as private companies.

Recently adopted accounting pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”)

2014-09,

Revenue from Contracts with Customers (Topic 606). The revised standard requires an entity to recognize revenue to

In August 2016, the FASB issued ASU

2016-15,

In January 2017, the FASB issued ASU

2017-04,

2017-04

Recently issued accounting pronouncements

In February 2016, the FASB issued ASU

2016-02,

2016-02

on the Company’s consolidated financial statements.

In June 2016, the FASB issued ASU

2016-13,

effective for the Company beginning in fiscal year 2023 with early adoption is permitted. The Company is currently evaluating the impact of adopting ASU

2016-13

on the Company’s consolidated financial statements.

In December 2019, the FASB issued ASU

2019-12,

Income Taxes (Topic 740). The revised standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. ASU

2019-12

on the Company’s consolidated financial statements.

Revision of financial statements

(w)

Revision of financial statements

Materiality

, and SAB 108,

Considering the Effects of Prior Year Misstatements when

Quantifying Misstatements in Current Year Financial Statements,

and concluded that the error was not qualitatively material to the prior consolidated financial statements. However, the Company revised its financial statements to correct the error.

The error had no impact on the Consolidated Statement of Income and Consolidated Balance Sheets for the years ended December 31, 2020 and 2019.

The impact of these adjustments on the respective line items within the Company’s Consolidated Statement of Cash Flows for the year ended December 31, 2020 and 2019 is as follows:


	Year ended December 31, 2020									Year ended December 31, 2019
(in thousands)	Previously Reported			Adjustments			As Revised			Previously Reported			Adjustments			As Revised
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized foreign exchange losses (gains) for forward contracts	$	—		$	84		$	84		$	—		$	(1,069	)	$	(1,069	)
Changes in operating assets and liabilities:
Other receivables, prepaid expenses, and other current assets		(3,684	)		(84	)		(3,768	)		(4,771	)		1,069			(3,702	)
Accounts payable and accrued liabilities		5,468			8,067			13,535			(645	)		(1,415	)		2,060

Net cash provided by operating activities		50,806			8,067			58,873			45,204			(1,415	)		43,789

Cash flows from investing activities:
Purchase of property and equipment		(20,816	)		(8,067	)		(28,883	)		(21,460	)		1,415			(20,045	)

Net cash used in investing activities	$	(20,816	)	$	(8,067	)	$	(28,883	)	$	(21,460	)	$	1,415		$	(20,045	)

Forward Contract Receivable

(4) Forward Contract Receivable

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.

non-performance

risk of the Company and the counterparties did not have a material impact on the fair value of the derivative instruments.

The Company has implemented the fair value accounting standard for those assets that are

re-measured


	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	$	—

Summary of Significant Accounting Policies (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Concentration of Risk by Risk Factor

For the six months ended June 30, 2021 and 2020, the following customers represented greater than 10% of the Company’s service revenue:


	Service revenue percentage
	Six months ended June 30,
Customer	2021			2020
A		28	%		32	%
B		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	%

For the years ended December 31, 2020 and 2019, the following customers represented greater than 10% of the Company’s service revenue or accounts receivable:


	Service revenue percentage
Customer	Year ended December 31, 2020			Year ended December 31, 2019
A		32	%		35	%
B		12	%		11	%
C		Less than 10	%		Less than 10	%


	Accounts receivable percentage
Customer	Year ended December 31, 2020			Year ended December 31, 2019
A		22	%		15	%
B		16	%		12	%
C		Less than 10	%		10	%

Summary of Amortization of Debt Financing Fees

As of December 31, 2020, amortization of debt financing fees for the next five fiscal years is expected to be as follows:


(in thousands)
2021	$	457
2022		457
2023		457
2024		343
2025		—

Total	$	1,714

Summary of Restatement of Financial Statements

The impact of these adjustments on the respective line items within the Company’s Consolidated Statement of Cash Flows for the year ended December 31, 2020 and 2019 is as follows:


	Year ended December 31, 2020									Year ended December 31, 2019
(in thousands)	Previously Reported			Adjustments			As Revised			Previously Reported			Adjustments			As Revised
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized foreign exchange losses (gains) for forward contracts	$	—		$	84		$	84		$	—		$	(1,069	)	$	(1,069	)
Changes in operating assets and liabilities:
Other receivables, prepaid expenses, and other current assets		(3,684	)		(84	)		(3,768	)		(4,771	)		1,069			(3,702	)
Accounts payable and accrued liabilities		5,468			8,067			13,535			(645	)		(1,415	)		2,060

Net cash provided by operating activities		50,806			8,067			58,873			45,204			(1,415	)		43,789

Cash flows from investing activities:
Purchase of property and equipment		(20,816	)		(8,067	)		(28,883	)		(21,460	)		1,415			(20,045	)

Net cash used in investing activities	$	(20,816	)	$	(8,067	)	$	(28,883	)	$	(21,460	)	$	1,415		$	(20,045	)

Revenue (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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:


	Six months ended June 30,
(in thousands)	2021		2020
Digital Customer Experience	$	213,277	$	136,562
Content Security		79,122		57,614
AI Operations		40,494		22,653

Service Revenue	$	332,893	$	216,829

The following table presents the breakdown of the Company’s revenues by service offering:


	Year ended December 31, 2020		Year ended December 31, 2019
(in thousands)
Digital Customer Experience	$	300,424	$	206,471
Content Security		127,657		104,259
AI Operations		49,965		48,951

Service Revenue	$	478,046	$	359,681

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:


	Six months ended June 30,
(in thousands)	2021		2020
Philippines	$	180,259	$	118,716
United States		109,687		84,074
Rest of World		42,947		14,039

Service Revenue	$	332,893	$	216,829

The following table presents the breakdown of the Company’s revenues by geographical location, based on where the services are provided from:


	Year ended December 31, 2020		Year ended December 31, 2019
(in thousands)
Philippines	$	267,687	$	208,983
United States		171,476		132,962
Rest of World		38,883		17,736

Service Revenue	$	478,046	$	359,681

Forward Contract Receivable (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Derivative Instrument Detail [Abstract]

Summary of Assets Measured at 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	$	—


	Fair value measurements using
	As of December 31, 2020		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
(in thousands)
Forward contract receivable	$	1,780		—		1,780		—

	Fair value measurements using
	As of December 31, 2019		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
(in thousands)
Forward contract receivable	$	1,864		—		1,864		—

Property and Equipment, net (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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, 2021			December 31, 2020
(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 components of Property and equipment, net at December 31, 2020 and 2019 were as follows:


	December 31, 2020			December 31, 2019
(in thousands)
Leasehold improvements	$	31,654		$	21,850
Technology and computers		47,572			23,402
Furniture and fixtures		4,203			3,551
Construction in process		5,194			12,877
Other property and equipment		5,995			2,469

Property and equipment, gross		94,618			64,149
Accumulated depreciation		(37,661	)		(19,073	)

Property and equipment, net	$	56,957		$	45,076

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, 2021		December 31, 2020
(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

The table below presents the Company’s total property and equipment by the geographic location as of December 31, 2020 and 2019:


	December 31, 2020		December 31, 2019
(in thousands)
Philippines	$	37,823		25,938
United States		8,983		12,967
Rest of World		10,151		6,171

Total Property and equipment, net	$	56,957		45,076

Goodwill and Intangibles (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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, Gross		Life (Years)		Accumulated Amortization			Intangibles, Net
(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, Gross		Life (Years)		Accumulated Amortization			Intangibles, Net
(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

Intangible assets consisted of the following as of December 31, 2020 and 2019:


	Intangibles, Gross		Life (Years)		Accumulated Amortization			Intangibles, Net
(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


	Intangibles, Gross		Life (Years)		Accumulated Amortization			Intangibles, Net
(in thousands)
Customer relationships	$	240,800		15		(20,067	)		220,733
Trade name		41,900		15		(3,491	)		38,409

Balance as of December 31, 2019	$	282,700				(23,558	)		259,142

Summary of Future amortization expense for intangible assets

Future amortization expense for intangible assets subject to amortization is:


(in thousands)
2021	$	18,847
2022		18,847
2023		18,847
2024		18,847
2025		18,847
Thereafter		146,060

Total	$	240,295

Long-Term Debt (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of current and non-current portions of debt

The balances of current and

non-current

portions of debt consist of the following as of June 30, 2021:


(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

The balances of current and

non-current

portions of debt consist of the following as of December 31, 2020:


(in thousands)	Current			Noncurrent			Total
Term Loan	$	6,563			200,025			206,588
Revolver		39,878			—			39,878
Less: Debt financing fees		(457	)		(1,257	)		(1,714	)

Total	$	45,984			198,768			244,752

Summary of Scheduled maturities of long-term debt

Principal maturities of the outstanding debt as of December 31, 2020 are as follows:


(in thousands)
2021	$	46,441
2022		11,813
2023		17,062
2024		171,150
2025		—

Total	$	246,466

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
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-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 55
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of Future minimum rental commitments under noncancelable operating leases

Future minimum rental commitments under noncancelable operating leases as of December 31, 2020:


(in thousands)
2021	$	12,313
2022		13,366
2023		10,224
2024		6,971
2025		5,871
Thereafter		—

Total	$	48,745

Employee Compensation (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

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 consolidated statements of operations for the six months ended June 30, 2021:


	Six months ended June 30,
	2021		2020
(in thousands)
Cost of services	$	51	$	—
Selling, general and administrative expense		133,216		—

Total	$	133,267	$	—

Summary of stock option activity

The following shows the stock option activity for the year ended at December 31, 2020:


	Number of options		Weighted - average grant date fair value		Weighted - average exercise price
Nonvested at January 1, 2020		5,320,800	$	0.39	$	3.51
Granted		3,887,970		1.65		8.32
Forfeited		749,670		0.46		3.85

Nonvested at December 31, 2020		8,459,100	$	0.97	$	5.69

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 estimated using the Black-Scholes option pricing method with the following assumptions:


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	%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense Benefit

The provision for (benefit from) income taxes consists of the following, as of the dates indicated:


	December 31, 2020			December 31, 2019
(in thousands)
Current:
Federal	$	10,974			2,836
State		3,411			567
Foreign		2,522			1,024

		16,907			4,427

Deferred:
Federal		(5,692	)		2,871
State		(875	)		(11,578	)
Foreign		(454	)		(131	)

		(7,021	)		(8,838	)

Total	$	9,886			(4,411	)

Schedule of Deferred Tax Assets and Liabilities

The following table presents the tax effects of temporary differences that gives rise to significant portions of deferred tax assets and deferred tax liabilities as of the dates indicated:


	Year ended December 31, 2020			Year ended December 31, 2019
(in thousands)
Deferred Tax Assets
Accruals	$	3,234			328
Deferred Rent		37			118
Allowances and reserves		637			41
Intercompany payable		826			658
Foreign Tax Credit		239			338
State taxes		947			1,018
Deferred Revenue		—			482
Other		431			—

Total Deferred Tax Assets	$	6,351			2,983

Deferred Tax Liabilities
Intangibles		(54,907	)		(59,310	)
Fixed Assets		(1,519	)		(663	)
Unrealized foreign exchange gain		(276	)		(382	)

Total Deferred Tax Liabilities	$	(56,702	)		(60,355	)

Net Deferred Tax Liabilities	$	(50,351	)		(57,372	)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation stated as a percentage of pretax income of the federal income tax effective rate (21%) to the Company’s effective tax rate:


	Year ended December 31, 2020			Year ended December 31, 2019
Federal tax rate		21	%		21	%
State taxes, net of federal benefit		2			(28	)
Other permanent differences		6			2
GILTI Inclusion		6			5
FDII		(4	)		(1	)
RTP		—			(1	)
Foreign jurisdiction income tax holiday		(11	)		(11	)
Foreign tax credit		(3	)		(2	)
Foreign tax rate differential		3			—
Deferred True-Up		—			(1	)
FIN48		4			—
Other adjustments		(2	)		1

Effective tax rate		22	%		(15	)%

Schedule of reconciliation of the beginning and ending balances of unrecognized tax benefits

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows (in thousands):


	Year ended December 31, 2020
(in thousands)
UTB Tabular Rollforward
Uncertain tax benefit balance as of 1/1/2020	$	—
Gross increases/(decreases) - tax positions for current period		875
Gross increases/(decreases) - tax position in prior periods		1,044

Uncertain tax benefit balance as of 12/31/2020	$	1,919

(Loss) Earnings Per Share (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of earnings per share basic and diluted

The following table summarized the computation of basic and diluted earnings per share for the six months ended June 30, 2021 and 2020:


	Six months ended June 30,
(in thousands, except share and per share data)	2021			2020
Numerator:
Net (loss) income Available to Common Shareholders	$	(89,436	)	$	9,523

Denominator:
Weighted-average common stock outstanding - basic and diluted		92,347,257			91,737,020
Net (loss) income per share:
Basic and diluted	$	(0.97	)	$	0.10

The following table summarized the computation of basic and diluted earnings per share for the years ended December 31, 2020 and 2019:


(in thousands, except share data)	Year ended December 31, 2020		Year ended December 31, 2019
Numerator:
Net Income From Continuing Operations Available to Common Shareholders	$	34,533		33,940


Denominator:
Weighted-average common stock outstanding - basic and diluted		91,737,020		91,737,020

Net income per share:
Basic and diluted	$	0.38		0.37

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 Accounting Policies - Schedule of Concentration of Risk by Risk Factor (Detail) - Customer Concentration Risk [Member]	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Service Revenue [Member] \| Customer A [Member]
Concentration Risk [Line Items]
Concentration risk percentage	28.00%	32.00%	32.00%	35.00%
Service Revenue [Member] \| Customer B [Member]
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	14.00%	12.00%	11.00%
Service Revenue [Member] \| Customer C [Member]
Concentration Risk [Line Items]
Concentration risk percentage			10.00%	10.00%
Accounts Receivable [Member] \| Customer A [Member]
Concentration Risk [Line Items]
Concentration risk percentage	14.00%		22.00%	15.00%
Accounts Receivable [Member] \| Customer B [Member]
Concentration Risk [Line Items]
Concentration risk percentage	16.00%		16.00%	12.00%
Accounts Receivable [Member] \| Customer C [Member]
Concentration Risk [Line Items]
Concentration risk percentage			10.00%	10.00%

Summary of Significant Accounting Policies - Summary of Amortization of Debt Financing Fees (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Amortization Of Debt Deferred Finance Costs [Abstract]
2021		$ 457
2022		457
2023		457
2024		343
2025
Total	$ 1,806	$ 1,714

Summary of Significant Accounting Policies - Summary of Restatement of Financial Statements (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized Gain (Loss) on Derivatives	$ 1,730	$ 178	$ 84	$ (1,069)
Changes in operating assets and liabilities:
Other receivables, prepaid expenses, and other current assets	(4,398)	(430)	(3,768)	(3,702)
Accounts payable and accrued liabilities	5,537	7,976	13,535	(2,060)
Net cash provided by operating activities	45,677	22,603	58,873	43,789
Cash flows from investing activities:
Purchase of property and equipment	(23,453)	(18,815)	(28,883)	(20,045)
Net cash used in investing activities	$ (23,453)	$ (18,815)	(28,883)	(20,045)
Previously Reported [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized Gain (Loss) on Derivatives
Changes in operating assets and liabilities:
Other receivables, prepaid expenses, and other current assets			(3,684)	(4,771)
Accounts payable and accrued liabilities			5,468	(645)
Net cash provided by operating activities			50,806	45,204
Cash flows from investing activities:
Purchase of property and equipment			(20,816)	(21,460)
Net cash used in investing activities			(20,816)	(21,460)
Adjustment [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized Gain (Loss) on Derivatives			84	(1,069)
Changes in operating assets and liabilities:
Other receivables, prepaid expenses, and other current assets			(84)	1,069
Accounts payable and accrued liabilities			8,067	(1,415)
Net cash provided by operating activities			8,067	(1,415)
Cash flows from investing activities:
Purchase of property and equipment			(8,067)	1,415
Net cash used in investing activities			$ (8,067)	$ 1,415

Summary of Significant Accounting Policies - Additional Information (Detail)			3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 27, 2020	Jun. 30, 2021 shares	Jun. 30, 2021 shares	Jun. 30, 2020	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) shares
Product Information [Line Items]
Accounts Receivable, Credit Loss Expense (Reversal)						$ 100,000	$ 200,000
Property plant and equipment estimated useful lives						five years or the term of the lease, whichever is shorter
Impairment, long lived asset held for use						$ 0	0
Impairment of intangible assets						$ 0	0
Employer matching contribution percent of match						4.00%
Defined contribution plan cost						$ 900,000	$ 600,000
Antidilutive securities excluded from computation of earnings per share amount \| shares			58,513	29,256		0	0
Percentage of tax benefit to be realized for recognition in the income statement						50.00%
COVID-19 [Member]
Product Information [Line Items]
Estimated number of personal computers laptops and wireless internet cards delivered to employees	14,000
Percentage of taxable income to offset by net operating loss carry forwards by CARES Act		100.00%
Other Income [Member]
Product Information [Line Items]
Realized and unrealized foreign currency losses						$ 3,500,000	$ 1,500,000
Selling, General and Administrative Expenses [Member]
Product Information [Line Items]
Advertising Expense						$ 1,300,000	$ 900,000
Leasehold Improvements [Member]
Product Information [Line Items]
Property plant and equipment estimated useful lives						shorter of five years or lease term
Leasehold Improvements [Member] \| COVID-19 [Member]
Product Information [Line Items]
Property, Plant and Equipment, useful life						3 years
Leasehold Improvements [Member] \| Change in Accounting Method Accounted for as Change in Estimate [Member] \| COVID-19 [Member]
Product Information [Line Items]
Increase in operating income due to change in estimate of useful life						$ 2,500,000
Increase in net income due to change in estimate of useful life						$ 1,900,000
Increase in earnings per share due to change in estimate of useful life \| $ / shares						$ 0.21
Maximum [Member]
Product Information [Line Items]
Property, Plant and Equipment, useful life						5 years
Minimum [Member]
Product Information [Line Items]
Property, Plant and Equipment, useful life						3 years
Service Revenue [Member] \| Customer Concentration Risk [Member] \| Customer [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%	10.00%

Revenue - Summary of Breakdown of Revenue by Service Offering (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Service Revenue	$ 332,893	$ 216,829	$ 478,046	$ 359,681
Digital Customer Experience [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	213,277	136,562	300,424	206,471
Content Security [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	79,122	57,614	127,657	104,259
AI Operations [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	$ 40,494	$ 22,653	$ 49,965	$ 48,951

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue - Summary of Breakdown of Revenue by Geographical Location (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Service Revenue	$ 332,893	$ 216,829	$ 478,046	$ 359,681
Philippines [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	180,259	118,716	267,687	208,983
United States [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	109,687	84,074	171,476	132,962
Rest of world [Member]
Disaggregation of Revenue [Line Items]
Service Revenue	$ 42,947	$ 14,039	$ 38,883	$ 17,736

- Definition

+ References

+ Details

Revenue - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Line Items]
Accounts receivable unbilled after allowances for credit losses	$ 71.7	$ 47.4	$ 32.1

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	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward contract receivable	$ 50	$ 1,780	$ 1,864
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward contract receivable	$ 50	$ 1,780	$ 1,864

Forward Contract Receivable - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Unrealized gains (losses) on the forward contracts	$ (1,730)	$ (178)	$ (84)	$ 1,069
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Forward contracts settled notional amount	45,600	36,000	88,000	61,000
Foreign Exchange Forward [Member] \| Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Forward contract receivable with notional amounts	116,600		109,200	82,000
Nonoperating Income (Expense) [Member] \| Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Gain loss on settlement of forward contracts receivable realized	1,400	1,600	5,100	2,500
Unrealized gains (losses) on the forward contracts	$ (1,700)	$ (200)	$ (100)	$ 1,100

Property and Equipment, net - Summary of components of Property and equipment,net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 112,706	$ 94,618	$ 64,149
Accumulated depreciation	(49,646)	(37,661)	(19,073)
Property and equipment, net	63,060	56,957	45,076
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	30,972	31,654	21,850
Technology and computers [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	62,678	47,572	23,402
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,023	4,203	3,551
Construction in process [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,724	5,194	12,877
Other property and equipment [Member
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 6,309	$ 5,995	$ 2,469

Property and Equipment, net - Summary of property and equipment by the geographic location (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 63,060	$ 56,957	$ 45,076
Philippines [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	39,825	37,823	25,938
United States [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	10,019	8,983	12,967
Rest of World [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 13,216	$ 10,151	$ 6,171

Property and Equipment, net - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Depreciation	$ 12,932	$ 10,510	$ 20,149	$ 16,319
Disposals of Property and equipment			1,100	2,200
losses from disposal of assets			$ 1,100	$ 2,200

Goodwill and Intangibles - Summary of Intangible assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Intangibles,Gross	$ 282,700	$ 282,700	$ 282,700
Accumulated Amortization	(51,829)	(42,405)	(23,558)
Intangibles, Net	230,871	240,295	259,142
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangibles,Gross	$ 240,800	$ 240,800	$ 240,800
Life (Years)	15 years	15 years	15 years
Accumulated Amortization	$ (44,148)	$ (36,121)	$ (20,067)
Intangibles, Net	196,652	204,679	220,733
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangibles,Gross	$ 41,900	$ 41,900	$ 41,900
Life (Years)	15 years	15 years	15 years
Accumulated Amortization	$ (7,681)	$ (6,284)	$ (3,491)
Intangibles, Net	$ 34,219	$ 35,616	$ 38,409

Goodwill and Intangibles - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill carrying amount	$ 195,735		$ 195,735	$ 195,735
Goodwill, Impairment Loss			0	0
Amortization of intangible assets	$ 9,424	$ 9,424	$ 18,847	$ 18,847
Remaining weighted average amortization period			13 years

Goodwill and Intangibles - Summary of Future amortization expense for intangible assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021		$ 18,847
2022		18,847
2023		18,847
2024		18,847
2025		18,847
Thereafter		146,060
Intangibles, Net	$ 230,871	$ 240,295	$ 259,142

Long-Term Debt - Summary of current and non-current portions of debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt Financing Costs, Current	$ (556)	$ (457)
Debt Financing Costs, Non Current	(1,250)	(1,257)
Long-term Debt, Gross		246,466
Debt Financing Costs, net	(1,806)	(1,714)
Long-term Debt - Current Maturities	48,510	45,984
Long-term Debt - Non Current Maturities	193,525	198,768	$ 204,874
Long-term Debt	242,035	244,752
Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument Carrying Amount Currrent	9,188	6,563
Debt Instrument Carrying Amount Non currrent	194,775	200,025
Long-term Debt, Gross	203,963	206,588
Line of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument Carrying Amount Currrent	39,878	39,878
Long-term Debt, Gross	$ 39,878	$ 39,878

Long-Term Debt - Additional Information (Details) - USD ($)			3 Months Ended	6 Months Ended		12 Months Ended
	Sep. 25, 2019	Oct. 01, 2018	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Apr. 30, 2021
Debt Instrument [Line Items]
Percentage of repayment on original principal amount						1.00%
Long-term Debt				$ 242,035,000		$ 244,752,000
Debt Issuance Costs, Net				1,806,000		1,714,000
Repayments of long term debt				$ 2,625,000	$ 525,000	$ 2,888,000	$ 950,000
Term Loan [Member]
Debt Instrument [Line Items]
Interest rate				2.345%		2.40%
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]
Long term debt maturity date						Sep. 25, 2024
Line of credit facility expiration date						Sep. 25, 2024
Line of credit facility stated interest rate				2.345%		2.40%
Line of credit facility unused commitement fee percentage				0.40%		0.40%
Line of Credit Facility, Frequency of Commitment Fee Payment for undrawn borrowings						quarterly
Borrowing availability under the Revolving Credit Facility				$ 50,100,000		$ 39.9
Revolving Credit Facility [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity				15,000,000.0		15,000,000.0
Revolving Credit Facility [Member] \| Swing Line Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity				$ 5,000,000.0		5,000,000.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility expiration date				Sep. 25, 2024
Line of Credit Facility, Frequency of Commitment Fee Payment for undrawn borrowings				quarterly
2019 Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt						244,800,000
2019 Credit Agreement [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Debt face amount	$ 210,000,000.0
Debt instrument floor rate Percentage	2.25%
Debt Issuance Costs, Net	$ 2,300,000
Amortization of Debt Issuance Costs			$ 100,000			$ 500,000
2019 Credit Agreement [Member] \| Term Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.00%
2019 Credit Agreement [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit additional borrowing capacity									$ 50,000,000.0
2019 Credit Agreement [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 40,000,000.0
Debt modification fees gross									$ 300,000
2018 Credit Agreement [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Net		$ 2,600,000
Repayments of long term debt	$ 84,600,000
Unamortized debt finance costs charged to interest finance							2,000,000.0
2018 Credit Agreement [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Debt face amount		$ 85,000,000.0
Long term debt maturity date		Oct. 01, 2023
Debt instrument periodic payment principal		$ 200,000
Debt instrument frequency of periodic payment		quarterly
Debt Instrument, Basis Spread on Variable Rate		3.75%
Percentage of prepayment fee		1.00%
Debt instruments prepayments								24 months
Amortization of Debt Issuance Costs							$ 400,000
2018 Credit Agreement [Member] \| Term Loan [Member] \| Net Leverage Ratio Criteria Basis One [Member]
Debt Instrument [Line Items]
Debt Instrument step ups Percentage		4.00%
2018 Credit Agreement [Member] \| Term Loan [Member] \| Net Leverage Ratio Criteria Basis Two [Member]
Debt Instrument [Line Items]
Debt Instrument step ups Percentage		4.25%
2018 Credit Agreement [Member] \| Term Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument floor rate Percentage		1.00%
2018 Credit Agreement [Member] \| Delayed Draw Down Loan Commitment [Member]
Debt Instrument [Line Items]
Debt face amount		$ 15,000,000.0
Duration in which additional debt commitments be allowed from closing of credit agreement		1 year
Long-term Debt								$ 0
2018 Credit Agreement [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		$ 20,000,000.0
Line of credit facility expiration date		Oct. 01, 2023
Line of credit facility unused commitement fee percentage		0.50%
2018 Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		$ 15,000,000.0
2018 Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Swing Line Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		$ 5,000,000.0
Line of credit outstanding								$ 0
Debt instrument floor rate Percentage		2.00%
2018 Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Swing Line Credit Facility [Member] \| Net Leverage Ratio Criteria Basis One [Member]
Debt Instrument [Line Items]
Debt Instrument step ups Percentage		3.00%
2018 Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Swing Line Credit Facility [Member] \| Net Leverage Ratio Criteria Basis Two [Member]
Debt Instrument [Line Items]
Debt Instrument step ups Percentage		3.25%
2018 Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Swing Line Credit Facility [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.75%

Long-Term Debt - Summary of Scheduled maturities of long-term debt (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Maturities of Long-term Debt [Abstract]
2021	$ 46,441
2022	11,813
2023	17,062
2024	171,150
2025	0
Total	$ 246,466

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions		12 Months Ended
	Oct. 01, 2018	Dec. 31, 2020	Dec. 31, 2019	Jul. 09, 2021	Jun. 30, 2021
Loss Contingencies [Line Items]
Lease termination cost		$ 1.8
Operating leases rent expense net		$ 11.1	$ 8.9
San Antonio [Member]
Loss Contingencies [Line Items]
Lessor operating lease, expiration year		2023 years
Former Santa Monica Headquarters [Member]
Loss Contingencies [Line Items]
Lessor operating lease, expiration year		2022 years
TaskUs Holdings, Inc [Member]
Loss Contingencies [Line Items]
Contingent Consideration Liability				$ 3.6
Bidco [Member] \| TaskUs Holdings, Inc [Member]
Loss Contingencies [Line Items]
Percentage of Voting Interests Acquired	100.00%
Transaction price	$ 429.4
Tax benefits receivable amount		$ 3.6
Bidco [Member] \| TaskUs Holdings, Inc [Member] \| Accounts Payable and Accrued Liabilities [Member]
Loss Contingencies [Line Items]
Contingent Consideration Liability		$ 3.6			$ 3.6

Commitments and Contingencies - Summary of Future minimum rental commitments under noncancelable operating leases (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2021	$ 12,313
2022	13,366
2023	10,224
2024	6,971
2025	5,871
Thereafter	0
Total	$ 48,745

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	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 133,267	$ 0
Cost of Services [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	51	0
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 133,216	$ 0

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 - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions						6 Months Ended	12 Months Ended
	Jun. 10, 2021	Apr. 16, 2021	Apr. 16, 2019	Oct. 01, 2018	Jun. 19, 2015	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 15, 2021	Jan. 01, 2020
Phantom Stock Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Outstanding						5,114,890	6,514,360		0	6,623,090
Forfeited						1,399,470
Recognized expense amount of expected cash settlement						$ 127.5	$ 0.0	$ 0.0
Number of options granted during period							150,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date					Jun. 19, 2022
Number of options vested during period							258,730
Share-based Payment Arrangement, Cash Used to Settle Award				$ 43.2
Phantom Stock Plan [Member] \| Change In Control Or IPO [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Options, outstanding							4,607,380
Phantom Stock Plan [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25.00%
2019 Stock Incentive Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Options, outstanding							8,459,100	5,320,800
Contractual term		10 years	10 years
Common stock reserved for issuance			11,113,730
Number of options granted during period							3,887,970
Weighted-average grant date fair value							$ 8.32
Weighted Average Exercise Price,oustanding							$ 5.69	$ 3.51
Unrecognized compensation expense							$ 8.8	$ 2.3
Number of options vested during period							749,670
2019 Stock Incentive Plan [Member] \| Minimum [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation arrangement by share based payment award fair value assumptions expected time to liquidity							6 months
2019 Stock Incentive Plan [Member] \| Maximum [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation arrangement by share based payment award fair value assumptions expected time to liquidity							4 years 6 months
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	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
Number of options granted during period	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	$ 23.00
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

Employee Compensation - Summary of stock option activity (Details) - 2019 Stock Incentive Plan [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, Nonvested Beginning balance \| shares	5,320,800
Number of options, Granted \| shares	3,887,970
Number of options, Forfeited \| shares	749,670
Number of options, Nonvested Ending Balance \| shares	8,459,100
Weighted - average grant date fair value, Nonvested Beginning balance	$ 0.39
Weighted - average grant date fair value, Granted	1.65
Weighted - average grant date fair value, Forfeited	0.46
Weighted - average grant date fair value, Nonvested Ending Balance	0.97
Weighted - average exercise price, Nonvested Beginning balance	3.51
Weighted - average exercise price, Granted	8.32
Weighted - average exercise price, Forfeited	3.85
Weighted - average exercise price, Nonvested Ending Balance	$ 5.69

Income Taxes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Income tax expenses benefit provision	$ (3,461)	$ 1,968	$ 9,886	$ (4,411)
Effective income tax rate	3.70%	17.10%	22.00%	(15.00%)
Effective tax rates, federal statutory	21.00%	21.00%	21.00%	21.00%
Unremitted earnings of foreign subsidiaries			$ 89,400
Covid Nineteen [Member]
Percentage of taxable income that is eligible to be set off against operatig losses carried forward and carry backs			100.00%
Cash benefit received social security taxes			$ 5,300
Covid Nineteen [Member] \| Tax Year 2017 [Member]
Transition tax liability			1,000
Covid Nineteen [Member] \| Tax Years Two Thousand Fifteen Sixteen And Seventeen [Member]
Expected income tax refund receivable			5,200
Foreign Tax Authority [Member]
Income tax expenses benefit provision			14,500	$ 15,000
Foreign Tax Authority [Member] \| PHILIPPINES
Impact of tax holiday on foreign income taxes decrease			$ 6,500	$ 4,300
Income tax holiday impact on net income per share diluted			$ 0.71	$ 0.46
Domestic Tax Authority [Member]
Income tax expenses benefit provision			$ 22,600	$ 21,800
Domestic Tax Authority [Member] \| Earliest Tax Year [Member]
Open tax year			2017
Domestic Tax Authority [Member] \| Latest Tax Year [Member]
Open tax year			2020
State and Local Jurisdiction [Member] \| Earliest Tax Year [Member]
Open tax year			2016
State and Local Jurisdiction [Member] \| Latest Tax Year [Member]
Open tax year			2020

Income Taxes - Schedule of Components of Income Tax Expense Benefit (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal			$ 10,974	$ 2,836
State			3,411	567
Foreign			2,522	1,024
Current Total			16,907	4,427
Deferred:
Federal			(5,692)	2,871
State			(875)	(11,578)
Foreign			(454)	(131)
Deferred Total			(7,021)	(8,838)
Total	$ (3,461)	$ 1,968	$ 9,886	$ (4,411)

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets
Accruals	$ 3,234	$ 328
Deferred Rent	37	118
Allowances and reserves	637	41
Intercompany payable	826	658
Foreign Tax Credit	239	338
State taxes	947	1,018
Deferred Revenue		482
Other	431
Total Deferred Tax Assets	6,351	2,983
Deferred Tax Liabilities
Intangibles	(54,907)	(59,310)
Fixed Assets	(1,519)	(663)
Unrealized foreign exchange gain	(276)	(382)
Total Deferred Tax Liabilities	(56,702)	(60,355)
Net Deferred Tax Liabilities	$ 50,351	$ 57,372

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Parenthetical) (Detail) $ in Millions	Dec. 31, 2020 USD ($)
Foreign Tax Authority [Member] \| 2028
Tax Credit Carryforward [Line Items]
Foreign income tax credits	$ 0.2

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail)	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal tax rate	21.00%	21.00%	21.00%	21.00%
State taxes, net of federal benefit			2.00%	(28.00%)
Other permanent differences			6.00%	2.00%
GILTI Inclusion			6	5
FDII			(4.00%)	(1.00%)
RTP				(1.00%)
Foreign jurisdiction income tax holiday			(11.00%)	(11.00%)
Foreign tax credit			(3.00%)	(2.00%)
Foreign tax rate differential			3.00%
Deferred True-Up				(1.00%)
FIN48			4.00%
Other adjustments			(2.00%)	1.00%
Effective tax rate	3.70%	17.10%	22.00%	(15.00%)

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Effective income tax rate reconciliation revaluation of state deferred tax assets	1.90%	6.80%

Income Taxes - Schedule of reconciliation of the beginning and ending balances of unrecognized tax benefits (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Income Tax Disclosure [Abstract]
Gross increases/(decreases) - tax positions for current period	$ 875
Gross increases/(decreases) - tax position in prior periods	1,044
Uncertain tax benefit balance as of 12/31/2020	$ 1,919

Income Taxes - Schedule of reconciliation of the beginning and ending balances of unrecognized tax benefits (Parenthetical) (Detail) $ in Millions	Dec. 31, 2020 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits impact on tax rate if recognized	$ 1.6
Unrecognized tax benefits accrued interest	0.1
Unrecognized tax benefits accrued penalties	$ 0.1

Shareholders' Equity - Additional information (Detail)						3 Months Ended		12 Months Ended
Shareholders' Equity - Additional information (Detail)	Jun. 15, 2021 USD ($) $ / shares shares	Jun. 10, 2021 $ / shares shares	Apr. 16, 2021 USD ($)	Apr. 09, 2021 USD ($)	Oct. 02, 2019 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2020 $ / shares shares
Class of Stock [Line Items]
Dividends, Common Stock, declared \| $				$ 50,000,000.0
Dividends, Common Stock, paid \| $			$ 50,000,000.0		$ 12,000,000.0		$ 50,000,000	$ 135,000,000
Preferred stock, shares authorized		250,000,000
Preferred stock, par or stated value per share \| $ / shares		$ 0.01
Common stock, shares authorized								100,000,000	100,000,000
Common stock, par or stated value per share \| $ / shares								$ 0.01	$ 0.01
Common Stock, Shares, Issued								91,737,020	91,737,020
Common Stock, Shares, Outstanding								91,737,020	91,737,020
Bidco [Member]
Class of Stock [Line Items]
Dividends, Common Stock, paid \| $					$ 135,000,000.0
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 Stock, Shares, Issued							15,180,000		0
Common Stock, Shares, Outstanding							15,180,000		0
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 - Schedule of Earnings Per Share Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Numerator
Net (loss) income Available to Common Shareholders					$ (89,436)	$ 9,523
Net Income From Continuing Operations Available to Common Shareholders	$ (105,943)	$ 16,507	$ 8,008	$ 1,515	$ (89,436)	$ 9,523	$ 34,533	$ 33,940
Denominator
Weighted-average common stock outstanding – basic and diluted					92,347,257	91,737,020	91,737,020	91,737,020
Net (loss) income per share:
Basic and diluted					$ (0.97)	$ 0.10	$ 0.38	$ 0.37

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

(Loss) Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Dilutive common stock equivalents	58,513	29,256	0	0
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 information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction				$ 0.3	$ 0.1
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		$ 0.4
Mphasis [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction			$ 0.2	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		$ 0.8
North American Bancard [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party		0.6
Custom Ink [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction		0.2
Expenses from transactions with related party		$ 0.7
Entity Affiliated With The Board Directors [Member] \| Consulting Services [Member]
Related Party Transaction [Line Items]
Fees for consulting fees				$ 0.3

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

Subsequent Events (Unaudited) - Additional Information (Detail) - USD ($) $ in Thousands				3 Months Ended	12 Months Ended
	Apr. 16, 2021	Apr. 09, 2021	Oct. 02, 2019	Jun. 30, 2021	Dec. 31, 2019
Subsequent Events Unaudited [Line Items]
Dividends, Common Stock, declared		$ 50,000
Dividends, Common Stock, paid	$ 50,000		$ 12,000	$ 50,000	$ 135,000
Subsequent Event [Member]
Subsequent Events Unaudited [Line Items]
Dividends, Common Stock, declared		$ 50,000
Dividends, Common Stock, paid	$ 50,000