{
  "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": 80,
  "pageCount": 80,
  "prevPage": 79,
  "nextPage": null,
  "slideType": "valuation_table",
  "function": "quantify_opportunity",
  "density": "dense",
  "nDataPoints": 48,
  "notes": "Includes specific adjustments for debt, NCI, and cash to arrive at equity value.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "valuation_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-2905b0287b60/80",
  "deckHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60#slide-80",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.85,
        "x": 0.08,
        "y": 0.0017
      },
      "kind": "callout",
      "text": "Spruce Point believes there is significant upside to Majorel's share price as it also transitions to higher value-added clients with differentiated technology solutions. Shares are underfollowed and the Company intends to initiate a dividend which should help it attract income and GARP oriented investors.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0853447c-6171-4263-bff8-19512750a67e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Spruce Point believes there is significant upside to Majorel's share price as it also transitions to higher value-added clients with differentiated technology solutions.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-14dd-72ca-b987-0a3bf95653d4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Implied Share Price: +70%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-14dd-72ca-b987-0fce6d214cd9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.45,
        "x": 0.04,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Market data as of 1/19/22. Upside based on current share price of €26.00. Source: Company financials, Spruce Point research",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "593f7bdf-4cb2-4acf-a742-5a75cd82f7c6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.92,
        "x": 0.04,
        "y": 0.0032
      },
      "kind": "table",
      "text": "Valuation buildup table comparing Revenue Multiple and EBITDA Multiple scenarios",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ccf0521f-f24b-432e-a29f-9790126c1ac1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.68,
        "x": 0.28,
        "y": 0.03
      },
      "kind": "title",
      "text": "Spruce Point Estimates 35% - 70% Upside Potential With Majorel (MAJ NA)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "05dbfe2a-31d9-4768-bd1a-de8ea27f6a55",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "valuation-buildup",
      "slug": null,
      "matchId": "91a943ae-16cb-4ce8-bda8-223f3f34a7fb",
      "evidence": "Standard equity valuation bridge from enterprise value to implied share price",
      "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": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}