TaskUs, Inc. (NASDAQ:TASK) Q3 2023 Earnings Call Transcript

Bryce Maddock: Yes, thanks so much for the question, Bill. So I think that, at this point, it’s very early days in the autonomous vehicle space, but we’re very well positioned. We support a number of the leading makers of autonomous vehicles. And this vehicle safety operation that we launched this quarter, is an incredibly exciting expansion of that work. At this stage, we’re seeing clients look for ways to make sure they’re ready to deliver safety for their cars and riders in the field. But to do so in a way that’s a bit more cost efficient, we mentioned one of our large autonomous vehicle clients, cutting spend on certain AI services in the last quarter. So it’s early days to figure out exactly what that per car ratio to agents would be. But I think we’re really well positioned as this space continues to grow.

William McNamara : Great. Thanks for taking my question.

Operator: Our final question is from Cassie Chan with Bank of America. Please proceed.

Cassie Chan: Hi. I just wanted to dig in a little further on your comment on 1Q 24. Should we expect, you know, a commodities central decline quarter over quarter versus 4Q similar to trends you saw in 2023? And also on a year over year basis, could you just clarify, could we see maybe further year over year deceleration as well versus, you know, call it down 7% based on the guidance you gave for 4Q? Thank you.

Bryce Maddock: Cassie, thanks so much for the question. So I think that’s right. We’re talking about the reversal of those seasonal volumes and the risk of some incremental churn given the macroeconomic environment. At this point, we’re really satisfied with the results we were able to deliver this quarter and we hope to deliver similar results going forward. But given the more challenging comp in Q4 and in Q1 of next year, the year over year decline may be slightly larger.

Cassie Chan: Got it. That’s helpful. Thank you.

Operator: This concludes our question and answer session and this will conclude our conference. You may disconnect your lines at this time and thank you for your participation.