{
  "docId": "019dd923-622c-750b-8b99-2905b0287b60",
  "docSlug": "87c1ab1e2597",
  "documentTitle": "TaskUs, Inc. (TASK)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-01-20 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 73,
  "pageCount": 80,
  "prevPage": 72,
  "nextPage": 74,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "sparse",
  "nDataPoints": 250,
  "notes": "The slide uses a peer group analysis to argue for overvaluation of TASK.",
  "elementsJson": [
    "comparison_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-2905b0287b60/73",
  "deckHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60#slide-73",
  "components": [
    {
      "bbox": null,
      "kind": "metric",
      "text": "EV / EBITDA: 18.6x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-14dd-72ca-b986-98cccdde4254",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.48,
        "x": 0.04,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "Source: Company financials, Bloomberg consensus and Spruce Point estimates",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d8c5a01a-f4bc-4222-b623-ae27ba821f21",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.75,
        "w": 0.92,
        "x": 0.04,
        "y": 0.19
      },
      "kind": "table",
      "text": "Peer valuation table comparing IT Outsourced and Customer Experience Focused companies across various financial metrics.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fce27be7-a15a-406c-ba55-d7a585aa35eb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.31,
        "y": 0.03
      },
      "kind": "title",
      "text": "We Believe TASK Trades At An Irrational Premium To Its Peers",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aeec82dc-7121-4d3c-8b27-b0b9688fdc75",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "8ce01bcf-fd44-4330-9ffb-69ec514e95d6",
      "evidence": "The slide compares TASK against a peer group to establish a valuation premium.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 80,
      "from": 6,
      "beatId": "aaba061d-8594-4dac-999c-686f29277072",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "The majority of the presentation is dedicated to exposing contradictions and concerns about TASK's financials, management, and market position.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 74,
      "from": 68,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "7543e0f9-9846-46c6-8d6a-836f71f9dfbe",
      "evidence": "The presentation estimates a 25% - 50% downside risk to TASK's share price and provides valuation tables to support this claim.",
      "position": 2,
      "objective": "Highlight the downside risk of investing in TASK",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}