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  "docSlug": "87c1ab1e2597",
  "documentTitle": "TaskUs, Inc. (TASK)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-01-20 00:00:00",
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  "notes": "The slide uses a red flag icon to signal a warning/contradiction.",
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      "kind": "callout",
      "text": "Annual contract value (“ACV”) was a key operational metric reported by TASK ahead of its IPO. Between January and March 2021, the Company dropped ACV from its draft IPO prospectus. When questioned by the SEC, it claimed that it removed ACV reporting to the risk of misinterpretation by investors. It appears to us that management's withdrawal of ACV shows a lack of confidence in its reporting.",
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      "kind": "callout",
      "text": "It appears to us that management's withdrawal of ACV shows a lack of confidence in its reporting.",
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      "text": "ACV",
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      "kind": "paragraph",
      "text": "“We generated ACV signings from new clients of $51.8 million in 2017, $146.1 million in 2018, to $86.3 million in 2019.” AND “Our ACV signings from existing clients were $21.1 million in 2017, $59.6 million in 2018 and $92.6 million in 2019.”",
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      "kind": "quote",
      "text": "“While the Registrant still believes ACV is a leading indicator of revenue opportunity in existing clients and new clients, we believe the disclosure of the metric may imply a certainty in our actual results that does not correspond to the level of estimation inherent in the metric. Thus, we removed the metric as we do not consider it to be meaningful to investors given the risk of misinterpretation.”",
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      "kind": "quote",
      "text": "While the Registrant still believes ACV is a leading indicator of revenue opportunity in existing clients and new clients, we believe the disclosure of the metric may imply a certainty in our actual results that does not correspond to the level of estimation inherent in the metric. Thus, we removed the metric as we do not consider it to be meaningful to investors given the risk of misinterpretation. — SEC Response Letter",
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      "text": "Key Operational Metrics: ACV signings, in thousands(1) $ 178,943 $ 205,664 Headcount (approx. at period end)(2) 18,400 13,800 Net revenue retention rate(3) 139% 118%",
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      "kind": "title",
      "text": "Annual Contract Value (ACV) – A Key Operational Metric – Dropped Ahead of IPO… Why?",
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