0001829864-22-000019 | 10-K | XBRL Viewer

Print Document View Excel Document

Consolidated Statements of Shareholders’ Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Distribution of dividends (in usd per share)	$ 0.55	$ 1.47

Income Taxes - Summary of Pretax Income Sources (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Examination [Line Items]
Income (loss) before income taxes	$ (60,963)	$ 44,419	$ 29,529
United States
Income Tax Examination [Line Items]
Income (loss) before income taxes	(111,296)	22,617	14,521
Foreign
Income Tax Examination [Line Items]
Income (loss) before income taxes	$ 50,333	$ 21,802	$ 15,008

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Consolidated Statements of Shareholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Common Stock Class A Common stock	Common Stock Class B Common stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2018			0	91,737,020
Beginning balance at Dec. 31, 2018	$ 398,741		$ 0	$ 917	$ 398,202	$ (871)	$ 493
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distribution of dividends	(135,000)					(135,000)
Net income (loss)	33,940					33,940
Other comprehensive loss	(181)						(181)
Ending balance (in shares) at Dec. 31, 2019			0	91,737,020
Ending balance at Dec. 31, 2019	297,500		$ 0	$ 917	398,202	(101,931)	312
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	34,533					34,533
Other comprehensive loss	3,104						3,104
Ending balance (in shares) at Dec. 31, 2020			0	91,737,020
Ending balance at Dec. 31, 2020	335,137		$ 0	$ 917	398,202	(67,398)	3,416
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distribution of dividends	(50,000)					(50,000)
Net income (loss)	(58,698)					(58,698)
Other comprehensive loss	(5,579)						(5,579)
Issuance of common stock in the initial public offering, net of offering costs (in shares)			5,553,154
Issuance of common stock in the initial public offering, net of offering costs	116,692		$ 56		116,636
Conversion of common stock (in shares)			21,704,326	(21,704,326)
Conversion of common stock	0		$ 217	$ (217)
Issuance of common stock for settlement of RSUs (in shares)			275,588
Issuance of common stock for settlement of RSUs	0		$ 3		(3)
Shares withheld related to net share settlement (in shares)			(101,804)
Shares withheld related to net share settlement	(4,607)	$ (1)			(4,606)
Stock-based compensation expense	46,189				46,189
Ending balance (in shares) at Dec. 31, 2021			27,431,264	70,032,694
Ending balance at Dec. 31, 2021	$ 379,134		$ 275	$ 700	$ 556,418	$ (176,096)	$ (2,163)

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment

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


(in thousands)	December 31, 2021		December 31, 2020
Leasehold improvements	$	38,024	$	31,654
Technology and computers	81,679		47,572
Furniture and fixtures	4,814		4,203
Construction in process	10,892		5,194
Other property and equipment	8,405		5,995
Property and equipment, gross	143,814		94,618
Accumulated depreciation	(63,768)		(37,661)
Property and equipment, net	$	80,046	$	56,957

Summary of Property and Equipment by Geographic Areas

The table below presents the Company’s total property and equipment by geographic location as of December 31, 2021 and 2020:


(in thousands)	December 31, 2021		December 31, 2020
Philippines	$	49,825	37,823
United States	10,273		8,983
Rest of World	19,948		10,151
Property and equipment, net	$	80,046	56,957

Property and Equipment, net - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 143,814	$ 94,618
Accumulated depreciation	(63,768)	(37,661)
Property and equipment, net	80,046	56,957
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	38,024	31,654
Technology and computers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	81,679	47,572
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,814	4,203
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,892	5,194
Other property and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,405	$ 5,995

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets, Gross [Abstract]
Accruals	$ 3,108	$ 2,158
Deferred rent	108	37
Allowances and reserves	907	637
Intercompany payable	1,894	826
Foreign Tax Credit	1,143	239
State taxes	751	947
Stock-based compensation expense	4,407	0
Deferred revenue	943	1,076
Deferred Tax Asset, Section 163J Interest Limitation	1,364	0
Other	400	431
Total deferred tax assets	15,025	6,351
Deferred Tax Liabilities
Intangibles	(51,602)	(54,907)
Fixed assets	(443)	(1,519)
Unrealized foreign exchange gain	(1,774)	(276)
Total deferred tax liabilities	(53,819)	(56,702)
Net deferred tax liabilities	$ (38,794)	$ (50,351)

Commitment and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum rental commitments under non-cancelable operating leases as of December 31, 2021:


(in thousands)
2022	$	14,036
2023	12,270
2024	9,032
2025	8,899
2026	4,034
Thereafter	4,654
Total	$	52,925

Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2021 reporting_unit
Accounting Policies [Abstract]
Number of reportable units	1

Employee Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 173,685	$ 0	$ 0
Cost of services
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	1,318	0	0
Selling, general, and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 172,367	$ 0	$ 0

Related Party (Details) - USD ($) $ / shares in Units, $ in Millions				12 Months Ended
	Oct. 25, 2021	Jun. 15, 2021	Oct. 01, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
TaskUs Holdings
Related Party Transaction [Line Items]
Percentage of outstanding shares acquired			100.00%
Consideration transferred			$ 429.4
Affiliated Entity \| Sellers of TaskUs, Inc
Related Party Transaction [Line Items]
Expenses from transaction with related party					$ 3.6
Affiliated Entity \| BMP \| Support And Services Agreement
Related Party Transaction [Line Items]
Expenses from transaction with related party				$ 0.1	0.3	$ 0.1
Affiliated Entity \| Alight \| Consulting Services
Related Party Transaction [Line Items]
Expenses from transaction with related party				1.3
Affiliated Entity \| Mphasis \| Consulting Services
Related Party Transaction [Line Items]
Expenses from transaction with related party					0.2
Affiliated Entity \| Vivint \| Interest In TaskUs Customers
Related Party Transaction [Line Items]
Revenue from related parties				2.2
Affiliated Entity \| Spanx, Inc \| Interest In TaskUs Customers
Related Party Transaction [Line Items]
Revenue from related parties				0.4
Affiliated Entity \| Ancestry.com LLC \| Interest In TaskUs Customers
Related Party Transaction [Line Items]
Revenue from related parties				0.2
Affiliated Entity \| Management Consulting Firm \| Consulting Services
Related Party Transaction [Line Items]
Expenses from transaction with related party				$ 0.3	$ 0.3
IPO And Private Placement
Related Party Transaction [Line Items]
Sale of stock, number of shares issued (in shares)		15,180,000
IPO And Private Placement \| Affiliated Entity \| Blackstone Securities Partners L.P. \| Underwriting of IPO
Related Party Transaction [Line Items]
Sale of stock, number of shares issued (in shares)		1,380,000
Sale of stock, discount and commission (in usd per share)		$ 1.265
Private Placement
Related Party Transaction [Line Items]
Sale of stock, number of shares issued (in shares)	12,077,480	9,626,846
Private Placement \| Affiliated Entity \| Blackstone Securities Partners L.P. \| Underwriting of IPO
Related Party Transaction [Line Items]
Sale of stock, number of shares issued (in shares)	1,021,942
Sale of stock, discount and commission (in usd per share)	$ 2.06375

Revenue and Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Service

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


	Year ended December 31,
(in thousands)	2021		2020		2019
Digital Customer Experience	$	486,679	$	300,424	$	206,471
Content Security	169,080		127,657		104,259
AI Operations	104,944		49,965		48,951
Service revenue	$	760,703	$	478,046	$	359,681

Schedule of Revenue by Geographic Area

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,
(in thousands)	2021		2020		2019
Philippines	$	402,340	$	267,687	$	208,983
United States	246,642		171,476		132,962
Rest of World	111,721		38,883		17,736
Service revenue	$	760,703	$	478,046	$	359,681

Activity in Allowance for Doubtful Accounts

Activity in the Company’s allowance for doubtful accounts consists of the following:


	Year ended December 31,
(in thousands)	2021		2020		2019
Balance, beginning of year	$	2,294	$	75	$	166
Provision for credit losses	1,058		2,227		65
Uncollectible receivables written-off	(1,533)		(8)		(156)
Balance, end of year	$	1,819	$	2,294	$	75

Summary of Significant Accounting Policies - Advertising Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Advertising expense	$ 1.9	$ 1.3	$ 0.9

Summary of Significant Accounting Policies - Translation of Non-U.S. Currency Amounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Realized and unrealized foreign currency losses	$ (4.2)	$ 3.5	$ 1.5

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

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”).

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; valuation of stock-based compensation; valuation and impairment of intangibles and goodwill and reserves for income tax uncertainties and other contingencies.

As of December 31, 2021, the impact of the COVID-19 pandemic, including as a result of new strains and variants of the virus and uncertainty of acceptance of vaccines and their effectiveness, 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.

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) 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 and Canada.

For the years ended December 31, 2021, 2020 and 2019, the following customers represented greater than 10% of the Company’s service revenue:


	Service revenue percentage
	Year ended December 31,
Customer	2021		2020		2019
A	27	%	32	%	35	%
B	11	%	12	%	11	%

For the years ended December 31, 2021 and 2020, the following customers represented greater than 10% of the Company’s accounts receivable:


	Accounts receivable percentage
Customer	December 31, 2021		December 31, 2020
A	22	%	22	%
B	12	%	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.

(f) Translation of Non-U.S. Currency Amounts

The Company is subject to foreign currency exposure due to its 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 (loss). Realized and unrealized gains and losses arising from foreign currency transactions are recognized in other expense (income). For the years ended December 31, 2021, 2020 and 2019, realized and unrealized foreign currency losses (gains) were $(4.2) million, $3.5 million and $1.5 million, respectively.

(g) Cash and Cash Equivalents

Cash and cash equivalents consist of cash on deposit with banks and highly liquid investments with maturities of 90 days or less from the date of purchase.

(h) Accounts Receivable

Accounts receivable are recorded as revenue is recognized in accordance with the Company’s 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 30 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.

(i) 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 operations. On the consolidated balance sheets, the debt financing fees related to the term loan and revolver loan are classified as a discount against the associated debt. In instances when the revolver loan is undrawn, associated debt financing fees are included in other noncurrent assets.

(j) 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. As of December 31, 2021, the Company was a party to non-deliverable foreign currency forward contract arrangements with one commercial bank which were not designated as hedges.

(k) Revenue Recognition

The Company recognizes revenue from its 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 (generally one to three years) 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 and we have a “right to invoice.” We do not allocate transaction price to unsatisfied performance obligations.

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, 2021, 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 its customer contracts, its 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.

(l) Advertising Expense

Advertising costs are expensed as incurred and are included in selling, general, and administrative expense in the accompanying consolidated statements of operations. Advertising expense for the years ended December 31, 2021, 2020 and 2019 was $1.9 million, $1.3 million and $0.9 million, respectively.

(m) 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. 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 $0.02 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, 2021, 2020 and 2019, no impairment charges were recorded.

(n) 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, 2021, 2020 and 2019, no impairment charges were recorded.

(o) 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 on October 1, or more frequently when events or circumstances indicate goodwill may be impaired. Management initially assesses 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. We have determined that we have a single reporting unit. Historically, the fair value of our reporting unit was estimated using a combination of the income approach, using a discounted cash flow methodology, and a market approach; the determination of discounted cash flows was based on the Company’s strategic plans and market conditions. Upon completion of the IPO, a public trading market for our common stock was established and, as a result, we consider our market capitalization (calculated as total common shares outstanding multiplied by the common equity price per share, as adjusted for a control premium factor, as necessary) to represent fair value. 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.

(p) Other Assets

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

(q) 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 contain service, performance and market conditions that affect vesting. The Company recognizes expense over the requisite service period using a graded vesting model. For unvested awards with performance conditions, the Company assesses the probability of attaining the performance conditions at each reporting period. Awards that are deemed probable of attainment are recognized in expense over the requisite service period. The Company accounts for forfeitures as they occur.

(r) 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 U.S. 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, 2021, 2020 and 2019 was $1.7 million, $0.9 million and $0.6 million, respectively.

(s) 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.

(t) 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 number of shares outstanding plus the weighted-average 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.

(u) 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.

(v) 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.

In August 2018, The FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The amendments in this ASU require (i) costs for implementation activities to be capitalized in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented, (ii) expense related to the capitalized implementation costs be presented in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and (iii) payments for capitalized implementation costs be presented in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The guidance should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company adopted this standard, on a prospective basis, for the fiscal year ended December 31, 2021, and interim periods during the fiscal year ending December 31, 2022; 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 plans to adopt this standard during 2022, using the modified retrospective method and the effective date as the date of initial application. The Company currently expects to recognize right-of-use assets and lease liabilities of approximately $43 million to $51 million on the consolidated balance sheet. The Company expects to elect the “package of practical expedients,” which permits the Company not to reassess under ASC 842 any prior conclusions about lease identification, lease classification and initial direct costs. The Company does not expect to apply the short-term lease exception and will therefore recognize a right-of-use asset and lease liability for all leases. The Company does not expect adoption of the lease standard to have a material impact on the consolidated statement of operations nor on its consolidated cash flows 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.

(w) COVID-19

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

On March 27, 2020, in the United States, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021 and the deferral of employer taxes. We chose to avail ourselves of these CARES Act provisions for NOL carryover and carrybacks and the deferral of employer taxes.

The Company continues to closely monitor the outbreak and the impact on its operations and liquidity; however, the Company does not currently expect a significant impact to its liquidity or its ability to continue as a going concern.

Forward Contracts - Narrative (Details)	12 Months Ended
Forward Contracts - Narrative (Details)	Dec. 31, 2021
Forward contract
Derivative [Line Items]
Derivative term	12 months

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (58,698)	$ 34,533	$ 33,940
Retirement benefit reserves	(55)	329	45
Foreign currency translation adjustments	(5,524)	2,775	(226)
Comprehensive income (loss)	$ (64,277)	$ 37,637	$ 33,759

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

Summary of Significant Accounting Policies - Summary of Concentration Risk (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Service revenue percentage \| Customer A
Concentration Risk [Line Items]
Concentration risk	27.00%	32.00%	35.00%
Service revenue percentage \| Customer B
Concentration Risk [Line Items]
Concentration risk	11.00%	12.00%	11.00%
Accounts receivable percentage \| Customer A
Concentration Risk [Line Items]
Concentration risk	22.00%	22.00%
Accounts receivable percentage \| Customer B
Concentration Risk [Line Items]
Concentration risk	12.00%	16.00%

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Apr. 30, 2021	Dec. 31, 2020	Sep. 25, 2019
Debt Instrument [Line Items]
Long term debt, gross	$ 239,903
Less current debt financing fees	(556)		$ (457)
Less noncurrent debt financing fees	(972)		(1,257)
Less: Debt financing fees	(1,528)		(1,714)
Current portion of debt	51,135		45,984
Long-term debt	187,240		198,768
Total	238,375		244,752
2019 Credit Agreement
Debt Instrument [Line Items]
Less: Debt financing fees		$ (300)		$ (2,300)
Secured Debt \| 2019 Credit Agreement
Debt Instrument [Line Items]
Long term debt, current, gross	11,813		6,563
Long term debt, noncurrent, gross	188,212		200,025
Long term debt, gross	200,025		206,588
Line of Credit \| 2019 Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Long term debt, current, gross	39,878		39,878
Long term debt, noncurrent, gross	0		0
Long term debt, gross	$ 39,878		$ 39,878

Goodwill and Intangibles (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

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


		December 31, 2021				December 31, 2020
(in thousands)	Life (Years)	Intangibles, Gross		Accumulated Amortization	Intangibles, Net	Intangibles, Gross		Accumulated Amortization	Intangibles, Net
Customer relationships	15	$	240,800	(52,175)	188,625	$	240,800	(36,121)	204,679
Trade name	15	41,900		(9,077)	32,823	41,900		(6,284)	35,616
Total		$	282,700	(61,252)	221,448	$	282,700	(42,405)	240,295

Summary of Future Amortization Expense for Intangible Assets

Future amortization expense for intangible assets subject to amortization is:


(in thousands)
2022	$	18,847
2023	18,847
2024	18,847
2025	18,847
2026	18,847
Thereafter	127,213
Total	$	221,448

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Concentration Risk

For the years ended December 31, 2021, 2020 and 2019, the following customers represented greater than 10% of the Company’s service revenue:


	Service revenue percentage
	Year ended December 31,
Customer	2021		2020		2019
A	27	%	32	%	35	%
B	11	%	12	%	11	%

For the years ended December 31, 2021 and 2020, the following customers represented greater than 10% of the Company’s accounts receivable:


	Accounts receivable percentage
Customer	December 31, 2021		December 31, 2020
A	22	%	22	%
B	12	%	16	%

Revenue and Contracts with Customers - Summary of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 760,703	$ 478,046	$ 359,681
Philippines
Disaggregation of Revenue [Line Items]
Revenue	402,340	267,687	208,983
United States
Disaggregation of Revenue [Line Items]
Revenue	246,642	171,476	132,962
Rest of World
Disaggregation of Revenue [Line Items]
Revenue	111,721	38,883	17,736
Digital Customer Experience
Disaggregation of Revenue [Line Items]
Revenue	486,679	300,424	206,471
Content Security
Disaggregation of Revenue [Line Items]
Revenue	169,080	127,657	104,259
AI Operations
Disaggregation of Revenue [Line Items]
Revenue	$ 104,944	$ 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

Summary of Significant Accounting Policies - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2021
Minimum
Disaggregation of Revenue [Line Items]
Contract term	1 year
Maximum
Disaggregation of Revenue [Line Items]
Contract term	3 years

Shareholders' Equity	12 Months Ended
Shareholders' Equity	Dec. 31, 2021
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Dividend Distribution On October 2, 2019, the Board of Directors declared, and the Company paid, a cash dividend in the aggregate amount of $135.0 million to holders of its common stock. 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 its 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. Voting 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 June 10, 2028 (seven years following the filing and effectiveness of the amended and restated certificate of incorporation). Dividend Rights—Subject to any preferential rights of any then outstanding preferred stock, all shares of our common stock are entitled to share equally, on a per share basis, in any dividends our board of directors may declare from legally available sources; provided, however, that in the event a dividend is paid in the form of shares of Class A common stock or Class B common stock, then holders of Class A common stock shall be entitled to receive shares of Class A common stock and holders of Class B common stock shall be entitled to receive shares of Class B common stock. We have no current plans to pay dividends on our common stock. Any decision to declare and pay dividends in the future will be made at the sole discretion of our board of directors and will depend on, among other things, our results of operations, cash requirements, financial condition, contractual restrictions and other factors that our board of directors may deem relevant. Because we are a holding company and have no direct operations, we will only be able to pay dividends from funds we receive from our subsidiaries. In addition, our ability to pay dividends is limited by covenants in our existing indebtedness and may be limited by the agreements governing any indebtedness we or our subsidiaries may incur in the future. Liquidation Rights—Upon our liquidation, dissolution or winding up, whether voluntary or involuntary, after payment of the debts and other liabilities of the Company and subject to the rights, if any, of the holders of any outstanding series of preferred stock or any class or series of stock having a preference over or the right to participate with the common stock, the holders of all outstanding shares of Class A common stock and Class B common stock shall be entitled to receive the remaining assets of the Company available for distribution to its stockholders ratably in proportion to the number of shares held by each such stockholder. 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 outstanding 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 $23.00 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. The Company did not receive any proceeds from the secondary offering. Secondary Offering On October 25, 2021, certain of the Company's stockholders completed a secondary offering of 12,077,480 shares of the Company's Class A common stock at a public offering price of $63.50 per share. All of the shares of Class A common stock were offered by existing stockholders. The Company did not sell any common stock in the offering and did not receive any proceeds from the offering.

- 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)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

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

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-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
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-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
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

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

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-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
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Commitments and Contingencies - Future Minimum Operating Lease Payments (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2022	$ 14,036
2023	12,270
2024	9,032
2025	8,899
2026	4,034
Thereafter	4,654
Total	$ 52,925

Description of Business and Organization	12 Months Ended
Description of Business and Organization	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Organization	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 Blackstone Inc. (“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. The Company provides digital outsourced services focused on serving high-growth technology companies to represent, protect and grow their brands. The Company’s global, omni-channel delivery model is focused on Digital Customer Experience, Content Security and Artificial Intelligence (“AI”) Operations. The Company has designed its platform to enable it to rapidly scale and benefit from its clients’ growth. Through its agile and responsive operational model, the Company delivers services from multiple delivery sites that span globally from the United States, Philippines, 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 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 Operations: 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.

Forward Contracts (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Settled and Outstanding Forward Contracts

The following table presents the Company’s settled and outstanding forward contracts and the related realized and unrealized losses (gains):


	Year ended December 31,
(in thousands)	2021		2020		2019
Total notional amount of settled forward contracts	$	109,200	$	88,000	$	61,000
Realized losses (gains) from settlement of forward contracts	$	446	$	(5,138)	$	(2,457)
Total notional amount of outstanding forward contracts	$	127,200	$	109,200	$	82,000
Unrealized losses (gains) on forward contracts	$	4,573	$	84	$	(1,069)

Summary of Fair Value of Assets Measured on a Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2021 and 2020 and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value:


	Fair value measurements using
(in thousands)	December 31, 2021		Level 1 inputs		Level 2 inputs		Level 3 inputs

Forward contract payable	$	2,793	$	—	$	2,793	$	—


	Fair value measurements using
(in thousands)	December 31, 2020		Level 1 inputs		Level 2 inputs		Level 3 inputs
Forward contract receivable	$	1,780	$	—	$	1,780	$	—

Goodwill and Intangibles - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangibles, Gross	$ 282,700	$ 282,700
Accumulated Amortization	(61,252)	(42,405)
Intangibles, Net	$ 221,448	$ 240,295
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Life (Years)	15 years	15 years
Intangibles, Gross	$ 240,800	$ 240,800
Accumulated Amortization	(52,175)	(36,121)
Intangibles, Net	$ 188,625	$ 204,679
Trade name
Finite-Lived Intangible Assets [Line Items]
Life (Years)	15 years	15 years
Intangibles, Gross	$ 41,900	$ 41,900
Accumulated Amortization	(9,077)	(6,284)
Intangibles, Net	$ 32,823	$ 35,616

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Pretax Income Sources

The components of income before provision for (benefit from) income taxes consists of the following, for the periods indicated:


	Year ended December 31,
(in thousands)	2021		2020		2019
United States	$	(111,296)	$	22,617	$	14,521
Foreign	50,333		21,802		15,008
Income (loss) before income taxes	$	(60,963)	$	44,419	$	29,529

Summary of Provision For (Benefit From) Income Taxes

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


	Year ended December 31,
(in thousands)	2021		2020		2019
Current:
Federal	$	999	$	10,974	$	2,836
State	2,146		3,411		567
Foreign	6,067		2,522		1,024
Total current tax expense	9,212		16,907		4,427
Deferred:
Federal	(9,844)		(5,692)		2,871
State	(796)		(875)		(11,578)
Foreign	(837)		(454)		(131)
Total deferred tax expense (benefit)	(11,477)		(7,021)		(8,838)
Total provision for (benefit from) income taxes	$	(2,265)	$	9,886	$	(4,411)

Summary 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:


(in thousands)	December 31, 2021		December 31, 2020
Deferred Tax Assets
Accruals	$	3,108	$	2,158
Deferred rent	108		37
Allowances and reserves	907		637
Intercompany payable	1,894		826
Foreign Tax Credit	1,143		239
State taxes	751		947
Stock-based compensation expense	4,407		—
Deferred revenue	943		1,076
Section 163(j) interest limitation	1,364		—
Other	400		431
Total deferred tax assets	$	15,025	$	6,351
Deferred Tax Liabilities
Intangibles	(51,602)		(54,907)
Fixed assets	(443)		(1,519)
Unrealized foreign exchange gain	(1,774)		(276)
Total deferred tax liabilities	$	(53,819)	$	(56,702)
Net deferred tax liabilities	$	(38,794)	$	(50,351)

Summary of Reconciliation of Effective Income Tax Rate

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


	Year ended December 31,
	2021		2020		2019
Federal tax rate	21	%	21	%	21	%
State taxes, net of federal benefit	(2)		2		(28)
Other permanent differences	(6)		6		2
Nondeductible officers’ compensation	(15)		—		—
GILTI Inclusion	(10)		6		5
FDII	—		(4)		(1)
RTP	(1)		—		(1)
Nondeductible transaction costs	(2)		—		—
Stock-based compensation expense	(3)		—		—
Foreign jurisdiction income tax holiday	6		(11)		(11)
Foreign tax credit	5		(3)		(2)
Foreign tax rate differential	9		3		—
Tax credits	2		—		—
Deferred true-up	—		—		(1)
FIN48	—		4		—
Other adjustments	—		(2)		1
Effective tax rate	4	%	22	%	(15)	%

Summary of Reconciliation of Balances of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:


	Year ended December 31,
(in thousands)	2021		2020
Uncertain tax benefit balance as of beginning of period	$	1,919	$	—
Gross increases/(decreases) - tax positions for current period	364		875
Gross increases/(decreases) - tax position in prior periods	(563)		1,044
Uncertain tax benefit balance as of end of period	$	1,720	$	1,919

Forward Contracts - Assets Measured at Fair Value on a Recurring Basis (Details) - Forward contract - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative liability	$ 2,793
Derivative asset		$ 1,780
Level 1 inputs
Derivative [Line Items]
Derivative liability	0
Derivative asset		0
Level 2 inputs
Derivative [Line Items]
Derivative liability	2,793
Derivative asset		1,780
Level 3 inputs
Derivative [Line Items]
Derivative liability	$ 0
Derivative asset		$ 0

Goodwill and Intangibles

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles

The carrying amount of goodwill as of December 31, 2021 and 2020 was $195.7 million.

As of October 1, 2021 and 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. Therefore, no impairment losses were recognized during the years ended December 31, 2021 and 2020.

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


		December 31, 2021				December 31, 2020
(in thousands)	Life (Years)	Intangibles, Gross		Accumulated Amortization	Intangibles, Net	Intangibles, Gross		Accumulated Amortization	Intangibles, Net
Customer relationships	15	$	240,800	(52,175)	188,625	$	240,800	(36,121)	204,679
Trade name	15	41,900		(9,077)	32,823	41,900		(6,284)	35,616
Total		$	282,700	(61,252)	221,448	$	282,700	(42,405)	240,295

As of December 31, 2021, the remaining weighted average amortization period of the above intangible assets was approximately 12 years.

Future amortization expense for intangible assets subject to amortization is:


(in thousands)
2022	$	18,847
2023	18,847
2024	18,847
2025	18,847
2026	18,847
Thereafter	127,213
Total	$	221,448

Employee Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Employee Compensation

Stock Plans

Phantom Stock Plan

On June 19, 2015, TaskUs Holdings’ board of directors officially adopted a company-wide 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 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).

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. The remainder was 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. All other terms were 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. Prior to the IPO, management determined that these triggering events were not probable, and as such no liability or expense was recorded for the year ended December 31, 2020 related to the rollover shares. There were 6,514,360 outstanding phantom shares as of December 31, 2020. There were 1,399,470 phantom shares forfeited during the year ended December 31, 2021. Because the change in control became probable upon the IPO, the Company recognized expense in the amount of the cash settlement totaling $127.5 million recorded in selling, general, and administrative expense on the consolidated statements of operations for the year ended December 31, 2021. As of December 31, 2021 there were no 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. As amended, the Company reserved 7,597,730 common shares for issuance under the 2019 Plan. 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 issued under the 2019 Plan, including approximately $2.2 million of compensation expense related to nonvested stock options based on the service already provided by the employee at that time.

2021 Omnibus Incentive Plan

In connection with the IPO, the Company adopted the 2021 Omnibus Incentive Plan (the “2021 Plan” and, together with the 2019 Plan, the “Incentive Plans”), 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. The stock options are subject to service-based vesting conditions and generally vest quarterly or annually over four years and expire 10 years from the date of the grant. The RSUs are typically subject to service-based vesting conditions and generally vest in quarterly or annual installments over four years.

The Company initially granted 6,614,122 awards to its founders and reserved an additional 12,160,929 shares of Class A common stock for issuance under the 2021 Plan, subject to automatic annual evergreen increases. As of December 31, 2021, the total number of shares available for future grants under the 2021 Plan was 8,706,134.

Stock Options

The following table summarizes the stock option activity for the year ended December 31, 2021:


	Number of options	Weighted - average exercise price		Weighted - average remaining contractual term (years)	Aggregate intrinsic value (in thousands)
Outstanding at January 1, 2021	8,459,100	$	5.15	8.6	$	57,642
Granted	2,347,059	$	27.30
Exercised	—	$	—
Forfeited	(1,120,838)	$	5.05
Outstanding at December 31, 2021	9,685,321	$	10.53	8.4	$	421,789
Vested and exercisable at December 31, 2021	137,792	$	23.00	9.4	$	4,266
Vested and exercisable at December 31, 2021 and expected to vest thereafter	9,685,321	$	10.53	8.4	$	421,789

The weighted-average grant-date fair value of options granted during the years ended December 31, 2021, 2020 and 2019 was $9.69, $1.65 and $0.38, respectively. No stock options were exercised during the years ended December 31, 2020 and 2019.

Awards granted to employees contain service, performance and market conditions that affect vesting. We use the Black-Scholes model to determine the fair value of stock options with either solely service conditions or with a combination of service and performance conditions. Prior to the IPO, we valued our options using a combination of Monte Carlo simulation and Black-Scholes model. 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. The grant date fair value of the stock options was estimated using the Black-Scholes option pricing method with the following assumptions:


	Year ended December 31,
	2021		2020		2019
Dividend yield (%)	0	%	0	%	0	%
Expected volatility (%)	32-35%		35	%	29-35%
Risk-free interest rate (%)	0.8-1.4%		0.3-1.8%		1.8-2.6%
Expected term (years)	5.1-7.0		5.3-9.0		7.5-9.0

The assumptions used in the Black-Scholes model, other than the fair value of our common stock, are estimated as follows:

•Expected dividend yield: Zero percent, as we do not anticipate paying dividends on our common stock.

•Expected volatility: Based on the historical stock price volatility of comparable publicly-traded companies in our peer group and the implied volatility of our assets and current leverage.

•Risk-free interest rate: Based on the U.S. Treasury yield curve in effect at the time of grant.

•Expected term: Estimated based on the simplified method as we do not have adequate historical data.

RSUs

The following table summarized the RSU activity for the year ended December 31, 2021:


	Number of RSUs	Weighted - average grant date fair value
Outstanding at January 1, 2021	—	$	—
Granted	4,485,638	$	28.66
Released	(275,588)	$	23.00
Cancelled	(30,575)	$	32.22
Unvested and Outstanding at December 31, 2021	4,179,475	$	29.01

No RSUs were granted during the years ended December 31, 2020 and 2019. The total pre-tax intrinsic value of the RSUs released during the year ended December 31, 2021 was $12.4 million. No RSUs were released during the years ended December 31, 2020 and 2019.

Performance Stock Units (“PSUs”)

During the year ended December 31, 2021, the Company granted 3,373,417 PSUs to its founders and a certain officer with a weighted-average grant date fair value of $4.02. The majority of the PSUs vest contingently in annual installments over four years subject to continued service and the achievement of certain enterprise value compound annual growth rate ("CAGR") targets. The remaining PSUs vest contingently in four years subject to continued service and the achievement of certain market capitalization 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 (%)	0.1-0.6%

Stock-Based Compensation Expense

The following table summarizes the components of stock-based compensation expense recognized in the Company’s consolidated statements of operations for the periods presented:


	Year ended December 31,
(in thousands)	2021		2020		2019
Cost of services	$	1,318	$	—	$	—
Selling, general, and administrative expense	172,367		—		—
Total	$	173,685	$	—	$	—

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 were vested or exercisable, and no expense was recorded for the years ended December 31, 2020 and 2019 given the performance condition was not probable. As of December 31, 2021, there was $20.3 million, $94.4 million and $10.1 million of unrecognized compensation expense related to unvested stock options, RSUs and PSUs, respectively, that is expected to be recognized over a weighted-average period of 1.8 years, 2.1 years and 2.3 years, respectively.

The tax benefits recognized in the consolidated statements of operations for stock-based compensation expense were $4.3 million for the year ended December 31, 2021 and were not material during the years ended December 31, 2020 and 2019.

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Current and Non-Current Debt

The balances of current and non-current portions of debt consist of the following as of December 31, 2021 and 2020:


	December 31, 2021						December 31, 2020
(in thousands)	Current		Noncurrent		Total		Current		Noncurrent		Total
Term Loan	$	11,813	$	188,212	$	200,025	$	6,563	$	200,025	$	206,588
Revolver	39,878		—		39,878		39,878		—		39,878
Less: Debt financing fees	(556)		(972)		(1,528)		(457)		(1,257)		(1,714)
Total	$	51,135	$	187,240	$	238,375	$	45,984	$	198,768	$	244,752

Summary of Maturities of Debt

Principal maturities of the outstanding debt as of December 31, 2021 are as follows:


(in thousands)
2022	$	51,691
2023	17,062
2024	171,150
2025	—
2026	—
Total	$	239,903

Forward Contracts

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Forward Contracts

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 expense (income) in the consolidated statements of operations. The forward contract receivable (payable) resulting from changes in fair value was recorded under prepaid expenses (accounts payable and accrued liabilities).

The following table presents the Company’s settled and outstanding forward contracts and the related realized and unrealized losses (gains):


	Year ended December 31,
(in thousands)	2021		2020		2019
Total notional amount of settled forward contracts	$	109,200	$	88,000	$	61,000
Realized losses (gains) from settlement of forward contracts	$	446	$	(5,138)	$	(2,457)
Total notional amount of outstanding forward contracts	$	127,200	$	109,200	$	82,000
Unrealized losses (gains) on forward contracts	$	4,573	$	84	$	(1,069)

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.


	Fair value measurements using
(in thousands)	December 31, 2021		Level 1 inputs		Level 2 inputs		Level 3 inputs

Forward contract payable	$	2,793	$	—	$	2,793	$	—


	Fair value measurements using
(in thousands)	December 31, 2020		Level 1 inputs		Level 2 inputs		Level 3 inputs
Forward contract receivable	$	1,780	$	—	$	1,780	$	—

The Company’s derivatives are carried at fair value using various pricing models that incorporate observable market inputs, such as interest rate yield curves and currency rates, which are Level 2 inputs. Derivative valuations incorporate credit risk adjustments that are necessary to reflect the probability of default by the counterparty or by the Company.

Property and Equipment, net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment, net

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


(in thousands)	December 31, 2021		December 31, 2020
Leasehold improvements	$	38,024	$	31,654
Technology and computers	81,679		47,572
Furniture and fixtures	4,814		4,203
Construction in process	10,892		5,194
Other property and equipment	8,405		5,995
Property and equipment, gross	143,814		94,618
Accumulated depreciation	(63,768)		(37,661)
Property and equipment, net	$	80,046	$	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 geographic location as of December 31, 2021 and 2020:


(in thousands)	December 31, 2021		December 31, 2020
Philippines	$	49,825	37,823
United States	10,273		8,983
Rest of World	19,948		10,151
Property and equipment, net	$	80,046	56,957

Earnings Per Share - Summary of Basic and Diluted Earnings (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income (loss) available to common shareholders	$ (58,698)	$ 34,533	$ 33,940
Denominator:
Weighted-average common shares outstanding – basic (in shares)	94,832,137	91,737,020	91,737,020
Weighted-average common shares outstanding – diluted (in shares)	94,832,137	91,737,020	91,737,020
Net income (loss) per common share:
Basic (in usd per share)	$ (0.62)	$ 0.38	$ 0.37
Diluted (in usd per share)	$ (0.62)	$ 0.38	$ 0.37

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

- Definition

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

+ References

+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 63,584	$ 107,728
Accounts receivable, net of allowance for doubtful accounts of $1,819 and $2,294, respectively	162,895	87,782
Other receivables	597	105
Prepaid expenses	10,939	13,032
Income tax receivable	3,863	1,606
Other current assets	4,428	1,051
Total current assets	246,306	211,304
Noncurrent assets:
Property and equipment, net	80,046	56,957
Deferred tax assets	1,441	585
Intangibles	221,448	240,295
Goodwill	195,735	195,735
Other noncurrent assets	5,022	2,630
Total noncurrent assets	503,692	496,202
Total assets	749,998	707,506
Current liabilities:
Accounts payable and accrued liabilities	40,890	41,935
Accrued payroll and employee-related liabilities	36,670	21,994
Current portion of debt	51,135	45,984
Current portion of income tax payable	2,416	0
Deferred revenue	4,095	4,711
Deferred rent	735	218
Total current liabilities	135,941	114,842
Noncurrent liabilities:
Income tax payable	2,886	2,988
Long-term debt	187,240	198,768
Deferred rent	2,749	2,194
Accrued payroll and employee-related liabilities	1,813	2,641
Deferred tax liabilities	40,235	50,936
Total noncurrent liabilities	234,923	257,527
Total liabilities	370,864	372,369
Commitments and Contingencies (See Note 8)
Shareholders’ equity:
Additional paid-in capital	556,418	398,202
Accumulated deficit	(176,096)	(67,398)
Accumulated other comprehensive income (loss)	(2,163)	3,416
Total shareholders’ equity	379,134	335,137
Total liabilities and shareholders’ equity	749,998	707,506
Class A Common stock
Shareholders’ equity:
Common stock	275	0
Class B Common stock
Shareholders’ equity:
Common stock	$ 700	$ 917

Earnings Per Share - Narrative (Details) - shares	12 Months Ended
Earnings Per Share - Narrative (Details) - shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		8,459,100	5,320,800
Common Stock Equivalents, Anti-Dilutive
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	105,177
Common Stock Equivalents, Antidilutive, Potentially Dilutive Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	7,476,384

Goodwill and Intangibles - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 195,735,000	$ 195,735,000
Goodwill impairment loss	$ 0	$ 0
Remaining amortization period	12 years

Goodwill and Intangibles - Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 18,847
2023	18,847
2024	18,847
2025	18,847
2026	18,847
Thereafter	127,213
Intangibles, Net	$ 221,448	$ 240,295

Employee Compensation - Narrative (Details) - USD ($)			12 Months Ended
Employee Compensation - Narrative (Details) - USD ($)	Jun. 10, 2021	Apr. 16, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 173,685,000	$ 0	$ 0
Weighted average grant date fair value of options granted (in usd per share)			$ 9.69	$ 1.65	$ 0.38
Stock options exercised (in shares)			0	0	0
Tax benefit recognized for stock based compensation expense			$ 4,300,000	$ 0	$ 0
Phantom Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)			0	6,514,360
Shares forfeited (in shares)			1,399,470
Stock-based compensation expense			$ 127,500,000
2019 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 2,200,000
Shares reserved for issuance (in shares)	7,597,730
2021 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	12,160,929
Granted (in shares)	6,614,122
Shares available for future grant (in shares)			8,706,134
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			$ 20,300,000
Weighted average period for recognition			1 year 9 months 18 days
Stock Option \| 2019 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period contingent on a change in control		2 years
Vesting period contingent on an initial public offering	3 years
Contractual life		10 years
Stock Option \| 2021 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life	10 years
Award vesting period			4 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)			4,179,475	0
Shares forfeited (in shares)			30,575
Granted (in shares)			4,485,638	0	0
Aggregate intrinsic value of shares released			$ 12,400,000
Released (in shares)			275,588	0	0
Granted (in usd per share)			$ 28.66
Unrecognized compensation expense				$ 94,400,000
Weighted average period for recognition			2 years 1 month 6 days
RSUs \| 2021 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			3,373,417
Granted (in usd per share)			$ 4.02
Award vesting period			4 years
Unrecognized compensation expense					$ 10,100,000
Weighted average period for recognition			2 years 3 months 18 days

Employee Compensation - Grant Date Fair Value of PSUs (Details) - PSUs	12 Months Ended
	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	0.00%
Expected volatility (%)	40.00%
Maximum risk-free interest rate (%)	0.60%
Minimum risk-free interest rate (%)	0.10%

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Allowance for doubtful accounts	$ 1,819	$ 2,294
Class A Common stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,500,000,000	2,500,000,000
Common stock, shares issued (in shares)	27,431,264	0
Common stock, shares outstanding (in shares)	27,431,264	0
Class B Common stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	70,032,694	91,737,020
Common stock, shares outstanding (in shares)	70,032,694	91,737,020

Income Taxes - Summary of Reconciliation of Balances of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Uncertain tax benefit balance as of beginning of period	$ 1,919	$ 0
Gross increases/(decreases) - tax positions for current period	364	875
Gross increases/(decreases) - tax position in prior periods	(563)
Gross increases/(decreases) - tax position in prior periods		1,044
Uncertain tax benefit balance as of end of period	$ 1,720	$ 1,919

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Service [Member]
Service revenue	$ 760,703	$ 478,046	$ 359,681
Operating expenses:
Cost of services	431,736	270,510	194,786
Selling, general, and administrative expense	335,312	113,519	90,630
Depreciation	29,038	20,155	16,329
Amortization of intangible assets	18,847	18,847	18,847
Loss on disposal of assets	52	1,116	2,227
Contingent consideration	0	3,570	0
Total operating expenses	814,985	427,717	322,819
Operating income (loss)	(54,282)	50,329	36,862
Other expense (income)	177	(1,572)	(2,013)
Financing expenses	6,504	7,482	9,346
Income (loss) before income taxes	(60,963)	44,419	29,529
Provision for (benefit from) income taxes	(2,265)	9,886	(4,411)
Net income (loss)	$ (58,698)	$ 34,533	$ 33,940
Net income (loss) per common share:
Basic (in usd per share)	$ (0.62)	$ 0.38	$ 0.37
Diluted (in usd per share)	$ (0.62)	$ 0.38	$ 0.37
Weighted-average number of common shares outstanding:
Basic (in shares)	94,832,137	91,737,020	91,737,020
Diluted (in shares)	94,832,137	91,737,020	91,737,020

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

The components of income before provision for (benefit from) income taxes consists of the following, for the periods indicated:


	Year ended December 31,
(in thousands)	2021		2020		2019
United States	$	(111,296)	$	22,617	$	14,521
Foreign	50,333		21,802		15,008
Income (loss) before income taxes	$	(60,963)	$	44,419	$	29,529

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


	Year ended December 31,
(in thousands)	2021		2020		2019
Current:
Federal	$	999	$	10,974	$	2,836
State	2,146		3,411		567
Foreign	6,067		2,522		1,024
Total current tax expense	9,212		16,907		4,427
Deferred:
Federal	(9,844)		(5,692)		2,871
State	(796)		(875)		(11,578)
Foreign	(837)		(454)		(131)
Total deferred tax expense (benefit)	(11,477)		(7,021)		(8,838)
Total provision for (benefit from) income taxes	$	(2,265)	$	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:


(in thousands)	December 31, 2021		December 31, 2020
Deferred Tax Assets
Accruals	$	3,108	$	2,158
Deferred rent	108		37
Allowances and reserves	907		637
Intercompany payable	1,894		826
Foreign Tax Credit	1,143		239
State taxes	751		947
Stock-based compensation expense	4,407		—
Deferred revenue	943		1,076
Section 163(j) interest limitation	1,364		—
Other	400		431
Total deferred tax assets	$	15,025	$	6,351
Deferred Tax Liabilities
Intangibles	(51,602)		(54,907)
Fixed assets	(443)		(1,519)
Unrealized foreign exchange gain	(1,774)		(276)
Total deferred tax liabilities	$	(53,819)	$	(56,702)
Net deferred tax liabilities	$	(38,794)	$	(50,351)

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.

As of December 31, 2021, the Company had foreign tax credit carryforwards of $0.2 million and work opportunity tax credit carryforwards of $1.0 million which will begin to expire in 2028 and 2041 if not utilized.

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


	Year ended December 31,
	2021		2020		2019
Federal tax rate	21	%	21	%	21	%
State taxes, net of federal benefit	(2)		2		(28)
Other permanent differences	(6)		6		2
Nondeductible officers’ compensation	(15)		—		—
GILTI Inclusion	(10)		6		5
FDII	—		(4)		(1)
RTP	(1)		—		(1)
Nondeductible transaction costs	(2)		—		—
Stock-based compensation expense	(3)		—		—
Foreign jurisdiction income tax holiday	6		(11)		(11)
Foreign tax credit	5		(3)		(2)
Foreign tax rate differential	9		3		—
Tax credits	2		—		—
Deferred true-up	—		—		(1)
FIN48	—		4		—
Other adjustments	—		(2)		1
Effective tax rate	4	%	22	%	(15)	%

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 operates under tax holidays in the Philippines, which were effective through December 31, 2021, and may be extended if certain additional requirements are satisfied. The tax holidays are conditional upon the Company meeting certain employment and investment thresholds. The impact of these tax holidays decreased foreign taxes by $6.7 million, $4.6 million and $4.1 million for the years ended December 31, 2021, 2020 and 2019, respectively. The benefit of the tax holidays on net income per share (diluted) was $0.07, $0.05 and $0.04 for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, unremitted earnings of the subsidiaries outside of the U.S. are approximately $139.3 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.

During 2021, the Philippines passed the CREATE Act which, among other changes, reduced the Philippines statutory tax rate from 30% to 25%. As a result of the law change, the Company recognized an expense of $2.4 million as a result of reducing the value of deferred tax assets.

On March 27, 2020, in the United States, the CARES Act was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021 and the deferral of employer taxes. The Company has chosen to avail itself 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 a refund of approximately $5.2 million. As a result of NOL carryback, as of December 31, 2021, 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 was paid on December 31, 2021, and the second half is due no later than December 31, 2022.

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:


	Year ended December 31,
(in thousands)	2021		2020
Uncertain tax benefit balance as of beginning of period	$	1,919	$	—
Gross increases/(decreases) - tax positions for current period	364		875
Gross increases/(decreases) - tax position in prior periods	(563)		1,044
Uncertain tax benefit balance as of end of period	$	1,720	$	1,919

As of December 31, 2021, the Company had approximately $1.7 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.

The Company recognizes interest and penalties related to uncertain tax positions as components of provision for (benefit from) income taxes. As of December 31, 2021, the Company 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, Taiwan, the United Kingdom, Ireland and Colombia. In 2021, the Company established business operations in Japan and Malaysia for which the Company will be subject to tax. As of December 31, 2021, the tax years 2017 to 2020 are subject to examination by tax authorities.

- 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
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

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
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Summary of Significant Accounting Policies - Employee Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Matching contribution percentage	4.00%
Compensation expense	$ 1.7	$ 0.9	$ 0.6

Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

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 following table summarized the computation of basic and diluted earnings per share for the years ended December 31, 2021, 2020 and 2019:


	Year ended December 31,
(in thousands, except share and per share data)	2021		2020		2019
Numerator:
Net income (loss) available to common shareholders	$	(58,698)	$	34,533	$	33,940
Denominator:
Weighted-average common shares outstanding - basic and diluted	94,832,137		91,737,020		91,737,020


Net income (loss) per common share:
Basic and diluted	$	(0.62)	$	0.38	$	0.37

Since the Company was in a net loss position for the year ended December 31, 2021, diluted EPS is equal to basic EPS as the inclusion of potential common stock equivalents would have been anti-dilutive. The Company excluded 105,177 potential common stock equivalents from the computation of diluted EPS for the year ended December 31, 2021, because the effect would have been anti-dilutive. In addition, the Company excluded 7,476,384 potential common stock equivalents from the computation of diluted EPS for the year ended December 31, 2021, since it was in a net loss position; however, these awards would have been dilutive if the Company was in a net income position. As of December 31, 2020 and 2019, there were 8,459,100 and 5,320,800, potential common stock equivalents outstanding, respectively, with performance and market conditions which were not met at each date, that were excluded from the calculation of diluted EPS.

Description of Business and Organization (Details)	Jun. 10, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock split ratio	10

Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($)		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Operating Income (Loss)		$ (54,282,000)	$ 50,329,000	$ 36,862,000
Net income (loss) available to common shareholders		$ (58,698,000)	$ 34,533,000	$ 33,940,000
Basic (in usd per share)		$ (0.62)	$ 0.38	$ 0.37
Diluted (in usd per share)		$ (0.62)	$ 0.38	$ 0.37
Property and equipment impairment charge		$ 0	$ 0	$ 0
Service Life
Property, Plant and Equipment [Line Items]
Operating Income (Loss)			2,500,000
Net income (loss) available to common shareholders			$ 1,900,000
Basic (in usd per share)			$ 0.02
Diluted (in usd per share)			$ 0.02
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment useful life		3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment useful life		5 years
Maximum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment useful life	3 years	5 years	5 years

Income Taxes - Summary of Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal tax rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	(2.00%)	2.00%	(28.00%)
Other permanent differences	(6.00%)	6.00%	2.00%
Nondeductible officers’ compensation	(15.00%)	0.00%	0.00%
GILTI Inclusion	(10.00%)	6.00%	5.00%
FDII	0.00%	(4.00%)	(1.00%)
RTP	(1.00%)	0.00%	(1.00%)
Nondeductible transaction costs	(2.00%)	0.00%	0.00%
Stock-based compensation expense	(3.00%)	0.00%	0.00%
Foreign jurisdiction income tax holiday	6.00%	(11.00%)	(11.00%)
Foreign tax credit	5.00%	(3.00%)	(2.00%)
Foreign tax rate differential	9.00%	3.00%	0.00%
Tax credits	2.00%	0.00%	0.00%
Deferred true-up	0.00%	0.00%	(1.00%)
FIN48	0.00%	4.00%	0.00%
Other adjustments	0.00%	(2.00%)	1.00%
Effective tax rate	4.00%	22.00%	(15.00%)

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-02 [Member]
Minimum \| Pro Forma
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease right of use asset	$ 43
Lease liability	43
Maximum \| Pro Forma
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease right of use asset	51
Lease liability	$ 51

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 7
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL122642865-165497

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL120254526-165497

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (a)(2)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (a)(3)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=122150657&loc=SL122150809-237846

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL122642865-165497

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S65
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=124359872&loc=SL124427846-239511

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124402435&loc=SL124402458-218513

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124402435&loc=SL124402458-218513

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL120254526-165497

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 45: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 50: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 51: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 52: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 54: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 55: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(1)

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(2)

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(3)(iii)(01)

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(3)(iii)(03)

+ Details

Shareholders' Equity (Details)						12 Months Ended
Shareholders' Equity (Details)	Oct. 25, 2021 $ / shares shares	Jun. 15, 2021 USD ($) $ / shares shares	Jun. 10, 2021 vote $ / shares shares	Apr. 09, 2021 USD ($)	Oct. 02, 2019 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)
Subsidiary, Sale of Stock [Line Items]
Dividends \| $				$ 50,000,000	$ 135,000,000
Stock split ratio			10
Preferred stock, authorized (in shares)			250,000,000
Preferred stock, par value (in usd per share) \| $ / shares			$ 0.01
Stock-based compensation expense \| $						$ 173,685,000	$ 0	$ 0
Phantom Stock Plan
Subsidiary, Sale of Stock [Line Items]
Stock-based compensation expense \| $						$ 127,500,000
IPO And Private Placement
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares)		15,180,000
Sale of stock, price (in usd per share) \| $ / shares		$ 23.00
IPO
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares)		5,553,154
Sale of stock, consideration received \| $		$ 120,700,000
Private Placement
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares)	12,077,480	9,626,846
Sale of stock, price (in usd per share) \| $ / shares	$ 63.50
Sale of stock, consideration received \| $		$ 0
Class A Common stock
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares)			2,500,000,000			2,500,000,000	2,500,000,000
Common stock, par value (in usd per share) \| $ / shares			$ 0.01			$ 0.01	$ 0.01
Number of votes per share \| vote			1
Class B Common stock
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares)			250,000,000			250,000,000	250,000,000
Common stock, par value (in usd per share) \| $ / shares			$ 0.01			$ 0.01	$ 0.01
Number of votes per share \| vote			10
Common stock, conversion period			7 years

Forward Contracts - Summary of Settled and Outstanding Forward Contracts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Unrealized losses (gains) on forward contracts	$ 4,573	$ 84	$ (1,069)
Forward contract
Derivative [Line Items]
Total notional amount of settled forward contracts	109,200	88,000	61,000
Realized losses (gains) from settlement of forward contracts	446	(5,138)	(2,457)
Total notional amount of outstanding forward contracts	127,200	109,200	82,000
Unrealized losses (gains) on forward contracts	$ 4,573	$ 84	$ (1,069)

Related Party	12 Months Ended
Related Party	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party	Related PartyOn 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”). As a part of the Transaction, the Company entered into a Stock Purchase Agreement, which provides that the sellers of TaskUs, Holdings, 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 recognized expense of $3.6 million for the expected payment to the sellers during the year ended December 31, 2020, which was included within accounts payable and accrued liabilities in the consolidated balance sheets as of December 31, 2020. The Company made payment to the sellers during the year ended December 31, 2021. 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 Blackstone. Under the Support and Services Agreement, the Company reimburses 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 the Company 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, 2021, 2020 and 2019 the Company made payments of $0.1 million, $0.3 million and $0.1 million respectively, pursuant to the Support and Services Agreement. From time to time, the Company does business 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”) and Mphasis Limited (“Mphasis”), entities that supply TaskUs with certain consulting services. During the year ended December 31, 2021, the Company made payments of $1.3 million to Alight. During the year ended December 31, 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”), Spanx, Inc. (“Spanx”) and Ancestry.com LLC (“Ancestry”), entities that are TaskUs customers. During the year ended December 31, 2021, the Company received payments of $2.2 million, $0.4 million and $0.2 million from Vivint, Spanx and Ancestry, respectively. Similarly, from time to time, the Company does business with entities affiliated with members of its 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 the Company’s Board of Directors provides consulting services to the Company. During the years ended December 31, 2021 and 2020, the Company incurred fees related to consulting services provided of $0.3 million and $0.3 million, respectively. Underwriting of Offerings 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, with respect to the shares sold by them. Blackstone Securities Partners L.P. served as underwriter of 1,021,942 of the 12,077,480 shares of Class A common stock sold in the secondary offering, with underwriting discounts and commissions of $2.06375 per share paid by the selling stockholders.

Long-Term Debt - Narrative (Details) - USD ($)		12 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Sep. 25, 2019	Dec. 31, 2021	Apr. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt financing fees		$ 1,528,000		$ 1,714,000
2018 Credit Agreement
Debt Instrument [Line Items]
Debt financing fees	$ 2,000,000
Fully repaid debt amount	84,600,000
2019 Credit Agreement
Debt Instrument [Line Items]
Debt financing fees	2,300,000		$ 300,000
2019 Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity		$ 50,100,000
2019 Credit Agreement \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 210,000,000
Effective interest rate		2.35%
2019 Credit Agreement \| Secured Debt \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
2019 Credit Agreement \| Secured Debt \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Stated interest rate		0.00%
2019 Credit Agreement \| Secured Debt \| Year One
Debt Instrument [Line Items]
Percentage of original principal amount	1.00%
2019 Credit Agreement \| Secured Debt \| Year Two
Debt Instrument [Line Items]
Percentage of original principal amount	2.50%
2019 Credit Agreement \| Secured Debt \| Year Three
Debt Instrument [Line Items]
Percentage of original principal amount	5.00%
2019 Credit Agreement \| Secured Debt \| Year Four
Debt Instrument [Line Items]
Percentage of original principal amount	7.50%
2019 Credit Agreement \| Secured Debt \| Year Five
Debt Instrument [Line Items]
Percentage of original principal amount	10.00%
2019 Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 40,000,000
Line of credit facility, additional borrowing capacity			$ 50,000,000
Effective interest rate		2.35%
Line of credit facility, commitment fee percent	0.40%
2019 Credit Agreement \| Line of Credit \| Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 15,000,000
2019 Credit Agreement \| Line of Credit \| Bridge Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 5,000,000

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	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”). The accompanying financial statements and related notes to the financial statements give retroactive effect to the stock split for all periods presented. See Note 11, “Shareholders’ Equity” for additional information.
Use of Estimates	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; valuation of stock-based compensation; valuation and impairment of intangibles and goodwill and reserves for income tax uncertainties and other contingencies. As of December 31, 2021, the impact of the COVID-19 pandemic, including as a result of new strains and variants of the virus and uncertainty of acceptance of vaccines and their effectiveness, 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.
Principles of consolidation	Principles of consolidationThe 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.
Segments	SegmentsOperating 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.
Concentration Risk	Concentration RiskMost of the Company’s customers are located in the United States. Customers outside of the United States are concentrated in Europe and Canada.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	Translation of Non-U.S. Currency AmountsThe Company is subject to foreign currency exposure due to its 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 (loss). Realized and unrealized gains and losses arising from foreign currency transactions are recognized in other expense (income).
Cash and Cash Equivalents	Cash and Cash EquivalentsCash and cash equivalents consist of cash on deposit with banks and highly liquid investments with maturities of 90 days or less from the date of purchase.
Accounts Receivable	Accounts ReceivableAccounts receivable are recorded as revenue is recognized in accordance with the Company’s 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 30 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.
Debt Financing Fees	Debt Financing FeesDebt 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 operations. On the consolidated balance sheets, the debt financing fees related to the term loan and revolver loan are classified as a discount against the associated debt. In instances when the revolver loan is undrawn, associated debt financing fees are included in other noncurrent assets.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging ActivitiesAccounting 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. As of December 31, 2021, the Company was a party to non-deliverable foreign currency forward contract arrangements with one commercial bank which were not designated as hedges.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 expense (income) in the consolidated statements of operations. The forward contract receivable (payable) resulting from changes in fair value was recorded under prepaid expenses (accounts payable and accrued liabilities). 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.
Revenue Recognition	Revenue Recognition The Company recognizes revenue from its 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 (generally one to three years) 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 and we have a “right to invoice.” We do not allocate transaction price to unsatisfied performance obligations. 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, 2021, 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 its customer contracts, its 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.
Advertising Expense	Advertising ExpenseAdvertising costs are expensed as incurred and are included in selling, general, and administrative expense in the accompanying consolidated statements of operations.
Property and Equipment	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. 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 $0.02 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.
Intangibles	IntangiblesIntangible 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.
Goodwill	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 on October 1, or more frequently when events or circumstances indicate goodwill may be impaired. Management initially assesses 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. We have determined that we have a single reporting unit. Historically, the fair value of our reporting unit was estimated using a combination of the income approach, using a discounted cash flow methodology, and a market approach; the determination of discounted cash flows was based on the Company’s strategic plans and market conditions. Upon completion of the IPO, a public trading market for our common stock was established and, as a result, we consider our market capitalization (calculated as total common shares outstanding multiplied by the common equity price per share, as adjusted for a control premium factor, as necessary) to represent fair value. 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.
Share-based Compensation	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 contain service, performance and market conditions that affect vesting. The Company recognizes expense over the requisite service period using a graded vesting model. For unvested awards with performance conditions, the Company assesses the probability of attaining the performance conditions at each reporting period. Awards that are deemed probable of attainment are recognized in expense over the requisite service period. The Company accounts for forfeitures as they occur.
Employee Benefits	Employee BenefitsRetirement 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 U.S. 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.
Commitments and Contingencies	Commitments and ContingenciesLiabilities 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.
Earnings per share	Earnings per shareThe 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 number of shares outstanding plus the weighted-average 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.
Income Taxes	Income TaxesCurrent 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.
Recent Accounting Pronouncements	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. In August 2018, The FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The amendments in this ASU require (i) costs for implementation activities to be capitalized in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented, (ii) expense related to the capitalized implementation costs be presented in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and (iii) payments for capitalized implementation costs be presented in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The guidance should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company adopted this standard, on a prospective basis, for the fiscal year ended December 31, 2021, and interim periods during the fiscal year ending December 31, 2022; 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 plans to adopt this standard during 2022, using the modified retrospective method and the effective date as the date of initial application. The Company currently expects to recognize right-of-use assets and lease liabilities of approximately $43 million to $51 million on the consolidated balance sheet. The Company expects to elect the “package of practical expedients,” which permits the Company not to reassess under ASC 842 any prior conclusions about lease identification, lease classification and initial direct costs. The Company does not expect to apply the short-term lease exception and will therefore recognize a right-of-use asset and lease liability for all leases. The Company does not expect adoption of the lease standard to have a material impact on the consolidated statement of operations nor on its consolidated cash flows 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.

Revenue and Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Unbilled revenues	$ 75.5	$ 47.4

Long-Term Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Long-term Debt

Long-Term Debt

The balances of current and non-current portions of debt consist of the following as of December 31, 2021 and 2020:


	December 31, 2021						December 31, 2020
(in thousands)	Current		Noncurrent		Total		Current		Noncurrent		Total
Term Loan	$	11,813	$	188,212	$	200,025	$	6,563	$	200,025	$	206,588
Revolver	39,878		—		39,878		39,878		—		39,878
Less: Debt financing fees	(556)		(972)		(1,528)		(457)		(1,257)		(1,714)
Total	$	51,135	$	187,240	$	238,375	$	45,984	$	198,768	$	244,752

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”). 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. On September 25, 2019, the total outstanding debt under the previous credit agreement of $84.6 million was fully repaid and the remaining $2.0 million of unamortized debt financing fees were charged to financing expenses. On April 30, 2021, the Company entered into Amendment No. 1 to its 2019 Credit Agreement with the existing lenders providing for $50.0 million incremental revolving credit commitments on the same terms as its existing revolving credit facility. The Company 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. 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, 2021. 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 Loan Facility as of December 31, 2021 was 2.35%.

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 terminates on September 25, 2024. Interest on borrowing under the Revolving Credit Facility 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 Revolving Credit Facility, and it is subject to the same interest rate that applies to the Term Loan Facility. The interest rate in effect for the outstanding borrowings under the Revolving Credit Facility as of December 31, 2021 was 2.35%. The Revolving Credit Facility also requires a commitment fee of 0.4% of undrawn commitments to be paid quarterly in arrears. As of December 31, 2021, we had $50.1 million of borrowing availability under the Revolving Credit Facility.

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, 2021. 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, 2021 are as follows:


(in thousands)
2022	$	51,691
2023	17,062
2024	171,150
2025	—
2026	—
Total	$	239,903

Summary of Significant Accounting Policies - Intangibles (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Impairment charge of intangible assets	$ 0	$ 0	$ 0

Employee Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity for the year ended December 31, 2021:


	Number of options	Weighted - average exercise price		Weighted - average remaining contractual term (years)	Aggregate intrinsic value (in thousands)
Outstanding at January 1, 2021	8,459,100	$	5.15	8.6	$	57,642
Granted	2,347,059	$	27.30
Exercised	—	$	—
Forfeited	(1,120,838)	$	5.05
Outstanding at December 31, 2021	9,685,321	$	10.53	8.4	$	421,789
Vested and exercisable at December 31, 2021	137,792	$	23.00	9.4	$	4,266
Vested and exercisable at December 31, 2021 and expected to vest thereafter	9,685,321	$	10.53	8.4	$	421,789

Summary of Valuation Assumptions

The grant date fair value of the stock options was estimated using the Black-Scholes option pricing method with the following assumptions:


	Year ended December 31,
	2021		2020		2019
Dividend yield (%)	0	%	0	%	0	%
Expected volatility (%)	32-35%		35	%	29-35%
Risk-free interest rate (%)	0.8-1.4%		0.3-1.8%		1.8-2.6%
Expected term (years)	5.1-7.0		5.3-9.0		7.5-9.0

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 (%)	0.1-0.6%

Summary of RSU Activity

The following table summarized the RSU activity for the year ended December 31, 2021:


	Number of RSUs	Weighted - average grant date fair value
Outstanding at January 1, 2021	—	$	—
Granted	4,485,638	$	28.66
Released	(275,588)	$	23.00
Cancelled	(30,575)	$	32.22
Unvested and Outstanding at December 31, 2021	4,179,475	$	29.01

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table summarizes the components of stock-based compensation expense recognized in the Company’s consolidated statements of operations for the periods presented:


	Year ended December 31,
(in thousands)	2021		2020		2019
Cost of services	$	1,318	$	—	$	—
Selling, general, and administrative expense	172,367		—		—
Total	$	173,685	$	—	$	—

Employee Compensation - Summary of Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of options
Beginning balance outstanding (in shares)	8,459,100
Granted (in shares)	2,347,059
Exercised (in shares)	0	0	0
Forfeited (in shares)	(1,120,838)
Ending balance outstanding (in shares)	9,685,321	8,459,100
Options vested and exercisable, Number of Stock Options (in shares)	137,792
Options vested and exercisable, and expected to vest thereafter, Number of Stock Options (in shares)	9,685,321
Weighted - average exercise price
Beginning balance outstanding (in usd per share)	$ 5.15
Granted (in usd per share)	27.30
Exercised (in usd per share)	0
Forfeited (in usd per share)	5.05
Ending balance outstanding (in usd per share)	10.53	$ 5.15
Options vested and exercisable, Weighted Average Exercise Price (in usd per share)	23.00
Options vested and exercisable, and expected to vest thereafter, Weighted Average Exercise Price (in usd per share)	$ 10.53
Stock Option Activity, Additional Disclosures
Outstanding, Weighted Average Remaining Contractual Life	8 years 4 months 24 days	8 years 7 months 6 days
Options vested and exercisable, Weighted Average Remaining Contractual Term	9 years 4 months 24 days
Options vested and exercisable, and expected to vest thereafter, Weighted Average Remaining Contractual Term	8 years 4 months 24 days
Outstanding, Aggregate Intrinsic Value	$ 421,789	$ 57,642
Options vested and exercisable, Aggregate Intrinsic Value	4,266
Options vested and exercisable, and expected to vest thereafter, Aggregate Intrinsic Value	$ 421,789

Summary of Significant Accounting Policies - Accounts Receivable (Details)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Threshold for individually reviewed collectability	30 days

Employee Compensation - Summary of RSU Activity (Details) - RSUs - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of RSUs
Beginning balance (in shares)	0
Granted (in shares)	4,485,638	0	0
Released (in shares)	(275,588)	0	0
Cancelled (in shares)	(30,575)
Ending balance (in shares)	4,179,475	0
Weighted - average grant date fair value
Beginning balance (in usd per share)	$ 0
Granted (in usd per share)	28.66
Released (in usd per share)	23.00
Cancelled (in usd per share)	32.22
Ending balance (in usd per share)	$ 29.01	$ 0

Revenue and Contracts with Customers

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue and Contracts with Customers

Disaggregation of Revenue

The Company’s revenues are derived from contracts with customers related to business outsourcing services that it provides. The following table presents the breakdown of the Company’s revenues by service offering:


	Year ended December 31,
(in thousands)	2021		2020		2019
Digital Customer Experience	$	486,679	$	300,424	$	206,471
Content Security	169,080		127,657		104,259
AI Operations	104,944		49,965		48,951
Service revenue	$	760,703	$	478,046	$	359,681

The majority of the Company’s revenues are derived from contracts with customers who are located in the United States. However, the Company delivers its 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:


	Year ended December 31,
(in thousands)	2021		2020		2019
Philippines	$	402,340	$	267,687	$	208,983
United States	246,642		171,476		132,962
Rest of World	111,721		38,883		17,736
Service revenue	$	760,703	$	478,046	$	359,681

Contract Balances

Accounts receivable, net of allowance for doubtful accounts includes $75.5 million and $47.4 million of unbilled revenues as of December 31, 2021 and 2020, respectively.

Activity in the Company’s allowance for doubtful accounts consists of the following:


	Year ended December 31,
(in thousands)	2021		2020		2019
Balance, beginning of year	$	2,294	$	75	$	166
Provision for credit losses	1,058		2,227		65
Uncollectible receivables written-off	(1,533)		(8)		(156)
Balance, end of year	$	1,819	$	2,294	$	75

- 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

Income Taxes - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Foreign tax credit with expiration date	$ 200
Work opportunity tax credit	1,000
Tax holiday amount	$ 6,700	$ 4,600	$ 4,100
Tax holiday benefit (in usd per share)	$ 0.07	$ 0.05	$ 0.04
Unremitted earnings of foreign subsidiaries	$ 139,300
Expense related to change in foreign tax rate	2,400
Expected tax refund from CARES Act				$ 5,200
Transition tax liability	1,000
Income taxes cash benefit from CAREs Act		$ 5,300
Unrecognized tax benefits	1,720	$ 1,919	$ 0
Income tax, accrued interest	100
Income taxes, accrued penalties	$ 100

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings per Share

The following table summarized the computation of basic and diluted earnings per share for the years ended December 31, 2021, 2020 and 2019:


	Year ended December 31,
(in thousands, except share and per share data)	2021		2020		2019
Numerator:
Net income (loss) available to common shareholders	$	(58,698)	$	34,533	$	33,940
Denominator:
Weighted-average common shares outstanding - basic and diluted	94,832,137		91,737,020		91,737,020


Net income (loss) per common share:
Basic and diluted	$	(0.62)	$	0.38	$	0.37

Revenue and Contracts with Customers - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of year	$ 2,294	$ 75	$ 166
Provision for losses on accounts receivable	1,058	2,227	65
Uncollectible receivables written-off	(1,533)	(8)	(156)
Balance, end of year	$ 1,819	$ 2,294	$ 75

Property and Equipment, net - Summary of Property and Equipment by Geographic Location (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 80,046	$ 56,957
Philippines
Property, Plant and Equipment [Line Items]
Property and equipment, net	49,825	37,823
United States
Property, Plant and Equipment [Line Items]
Property and equipment, net	10,273	8,983
Rest of World
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 19,948	$ 10,151

Long-Term Debt - Summary of Maturity of Debt (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2022	$ 51,691
2023	17,062
2024	171,150
2025	0
2026	0
Long term debt, gross	$ 239,903

Employee Compensation - Grant Date Fair Value of Stock Options (Details) - Stock Option	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	0.00%	0.00%	0.00%
Minimum expected volatility (%)	32.00%		29.00%
Maximum expected volatility (%)	35.00%		35.00%
Expected volatility (%)		35.00%
Minimum risk-free interest rate (%)	0.80%	0.30%	1.80%
Maximum risk-free interest rate (%)	1.40%	1.80%	2.60%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years 1 month 6 days	5 years 3 months 18 days	7 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	7 years	9 years	9 years

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Rental expense	$ 12.9	$ 11.1	$ 8.9
Lease termination costs		$ 1.8
Minimum
Other Commitments [Line Items]
Lease term	2 years
Maximum
Other Commitments [Line Items]
Lease term	5 years

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ (58,698)	$ 34,533	$ 33,940
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	29,038	20,149	16,319
Amortization of intangibles	18,847	18,847	18,847
Amortization of debt financing fees	526	457	2,526
Loss on disposal of assets	52	1,116	2,227
Provision for losses on accounts receivable	1,058	2,227	65
Unrealized losses (gains) on forward contracts	(4,573)	(84)	1,069
Deferred taxes	(11,477)	(6,496)	(8,838)
Stock-based compensation expense	46,189	0	0
Changes in operating assets and liabilities:
Accounts receivable	(76,203)	(32,006)	(13,046)
Other receivables, prepaid expenses, and other current assets	(8,611)	(3,768)	(3,702)
Other noncurrent assets	(2,380)	(67)	(457)
Accounts payable and accrued liabilities	4,493	13,535	(2,060)
Accrued payroll and employee-related liabilities	16,450	6,669	2,593
Income tax payable	1,013	1,381	(3,652)
Deferred revenue	1,261	2,603	(184)
Deferred rent	1,195	(391)	280
Net cash provided by (used in) operating activities	(32,674)	58,873	43,789
Cash flows from investing activities:
Purchase of property and equipment	(59,363)	(28,883)	(20,045)
Net cash used in investing activities	(59,363)	(28,883)	(20,045)
Cash flows from financing activities:
Proceeds from borrowings, Revolving credit facility	0	39,878	0
Proceeds from long-term debt	0	0	210,000
Settlement of 2018 Credit Agreement	0	0	(84,575)
Payments on long-term debt	(6,563)	(2,888)	(950)
Payments for debt financing fees	(340)	0	(2,285)
Proceeds from issuance of common stock, net of underwriters’ fees	120,698	0	0
Payments for offering costs	(4,798)	0	0
Payments for taxes related to net share settlement	(4,607)	0	0
Distribution of dividends	(50,000)	0	(135,000)
Net cash provided by (used in) financing activities	54,390	36,990	(12,810)
Increase (decrease) in cash and cash equivalents	(37,647)	66,980	10,934
Effect of exchange rate changes on cash	(6,497)	3,207	1,326
Cash and cash equivalents at beginning of period	107,728	37,541	25,281
Cash and cash equivalents at end of period	63,584	107,728	37,541
Supplemental cash flow information:
Cash paid for interest expense	5,907	6,957	6,820
Cash paid for taxes, net of refunds	7,487	15,519	7,998
Noncash operating, investing and financing activities:
Accrued capital expenditures	7,817	10,953	9,987
Noncash reclass for customer-billed equipment	$ 1,874	$ 0	$ 0

Income Taxes - Summary of Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 999	$ 10,974	$ 2,836
State	2,146	3,411	567
Foreign	6,067	2,522	1,024
Total current tax expense	9,212	16,907	4,427
Deferred:
Federal	(9,844)	(5,692)	2,871
State	(796)	(875)	(11,578)
Foreign	(837)	(454)	(131)
Total deferred tax expense (benefit)	(11,477)	(7,021)	(8,838)
Total provision for (benefit from) income taxes	$ (2,265)	$ 9,886	$ (4,411)

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(a) Operating Leases

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. Leases that do not transfer to the Company substantially all the risks and benefits of ownership of the asset are classified as operating leases. The Company has various leases for office spaces under non-cancelable operating lease agreements. Our leases usually have a range of expiration dates from two to five years, and typically include a renewal option for an additional term.

Minimum rent payments under operating leases (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, including any periods of free rent. Rental expense for years ended December 31, 2021, 2020 and 2019 was $12.9 million, $11.1 million and $8.9 million, respectively. Associated costs, such as repairs, maintenance, and insurance, are expensed as incurred. 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 in 2020.

Future minimum rental commitments under non-cancelable operating leases as of December 31, 2021:


(in thousands)
2022	$	14,036
2023	12,270
2024	9,032
2025	8,899
2026	4,034
Thereafter	4,654
Total	$	52,925

(b) Legal Proceedings

The Company is, and from time to time, 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.