TTEC Announces Second Quarter 2025 Financial Results
Second Quarter 2025
Revenue was $513.6 Million
Net Loss was $6.7 Million or negative 1.3 Percent of Revenue
(Net Income of $10.6 Million or 2.1 Percent of Revenue Non-GAAP)
Adjusted EBITDA was $51.8 Million or 10.1 Percent of Revenue
Updates Revenue Outlook for Full Year 2025
AUSTIN, Texas, Aug. 7, 2025 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ:TTEC), a leading global CX (customer experience) technology and services innovator for AI-enabled CX with solutions from TTEC Engage and TTEC Digital, announced today financial results for the second quarter ended June 30, 2025.
"We are pleased with our financial results for the second quarter and first half of the year and are on our way to bringing TTEC back to our historic growth rates and profitability. Our leadership team is delivering on our transformation with consistent improvements in growth and margins. With our digital-first approach, we continue to attract new marquee clients as we grow with our embedded base," commented Ken Tuchman, chairman and chief executive officer of TTEC.
"As the market continues to evolve with AI innovations, we are designing and delivering complex transformational digital solutions that align with the rapidly changing CX landscape. Our teams are deploying AI throughout our entire organization and working externally with our clients to deliver the right balance between human interaction and AI automation. We are transforming our clients' end-to-end customer experiences by leading with AI and data driven solutions and continue to deepen our partnerships with the leading CX technology players. This approach is delivering for our clients as evidenced in our increased full-year 2025 revenue guidance," Tuchman concluded.
SECOND QUARTER 2025 FINANCIAL HIGHLIGHTS
Revenue
- Second quarter 2025 GAAP revenue was $513.6 million, a 3.8 percent decrease compared to $534.1 million in the prior year.
- Foreign exchange had a $2.4 million positive impact on revenue in the second quarter of 2025.
Income from Operations
- Second quarter 2025 GAAP income from operations was $18.9 million, or 3.7 percent of revenue, compared to a loss from operations of $224.4 million, or a negative 42.0 percent of revenue in the prior year, primarily related to non-cash impairment charges in the TTEC Engage reporting unit.
- Non-GAAP income from operations, excluding restructuring and impairment charges, equity-based compensation expenses, amortization of purchased intangibles, and other items, was $36.8 million, or 7.2 percent of revenue, compared to $29.5 million, or 5.5 percent of revenue in the prior year.
- Foreign exchange had a $1.5 million positive impact on Non-GAAP income from operations in the second quarter of 2025.
Adjusted EBITDA
- Second quarter 2025 Non-GAAP Adjusted EBITDA was $51.8 million, or 10.1 percent of revenue, compared to $46.2 million, or 8.7 percent of revenue in the prior year.
Earnings Per Share
- Second quarter 2025 GAAP fully diluted net loss per share was $0.14 compared to net loss per share of $6.24 in the prior year.
- Non-GAAP fully diluted earnings per share was $0.22 compared to $0.14 in the prior year.
CASH FLOW AND BALANCE SHEET
- Cash flow from operations in the second quarter of 2025 was $92.7 million compared to $49.3 million for the second quarter of 2024.
- Free cash flow in the second quarter of 2025 was $85.5 million compared to $35.1 million for the second quarter of 2024.
- Capital expenditures in the second quarter of 2025 were $7.2 million compared to $14.2 million for the second quarter of 2024.
- As of June 30, 2025, TTEC had cash and cash equivalents of $82.6 million and debt of $886.3 million, resulting in a net debt position of $803.7 million. This compares to a net debt position of $853.4 million for the same period 2024.
- As of June 30, 2025, TTEC's remaining borrowing capacity under its revolving credit facility was approximately $270 million compared to approximately $100 million for the same period 2024.
SEGMENT REPORTING & COMMENTARY
TTEC reports financial results for TTEC Digital and TTEC Engage business segments. Financial highlights for the two business segments are provided below.
TTEC Digital – Design, build and operate tech-enabled, insight-driven CX solutions
- Second quarter 2025 GAAP revenue for TTEC Digital was $113.7 million, a decrease of 2.3 percent compared to $116.4 million for the year ago period.
- Income from operations was $11.4 million or 10.0 percent of revenue compared to $6.0 million or 5.2 percent of revenue in the prior year.
- Non-GAAP income from operations was $18.4 million, or 16.1 percent of revenue compared to operating income of $15.0 million or 12.8 percent of revenue in the prior year.
TTEC Engage – Technology-enabled customer care, acquisition, and fraud mitigation services
- Second quarter 2025 GAAP revenue for TTEC Engage was $399.8 million, a 4.3 percent decrease from $417.7 million for the year ago period.
- Income from operations was $7.5 million or 1.9 percent of revenue compared to a loss from operations of $230.4 million, or negative 55.2 percent of revenue in the prior year.
- Non-GAAP income from operations was $18.4 million, or 4.6 percent of revenue, compared to operating income of $14.6 million, or 3.5 percent of revenue in the prior year.
- Foreign exchange had a $2.2 million positive impact on revenue and a $1.5 million positive impact on income from operations.
BUSINESS OUTLOOK
"We delivered solid performance in the second quarter and first half of the year in both segments, exceeding our plan. In TTEC Digital, we are diversifying and scaling with our new growth partners. We also remain highly focused on utilization to maximize our margins as the market shifts to more holistic data and AI solutions. In TTEC Engage, the revenue decline was less than expected and our profit optimization delivered significant improvement in our margins through the first half of the year," commented Kenny Wagers, chief financial officer of TTEC.
Wagers continued, "In our Engage segment, we are raising our revenue guidance due to higher growth in our embedded base and a positive foreign exchange impact on revenue compared to budgeted 2025 foreign exchange rates. We are re-iterating our full-year outlook on our profitability, noting that the foreign exchange impact versus budget is having a negative impact on Engage's margins. We are well positioned to deliver on our financial commitments in the second half of the year but remain cautious as we navigate the dynamic global economic environment."
TTEC Full Year 2025 Outlook | |||
Full Year 2025 | Full Year 2025 | ||
Revenue | $2,064M — $2,114M | $2,089M | |
Non-GAAP adjusted EBITDA | $215M — $235M | $225M | |
Non-GAAP adjusted EBITDA margins | 10.4% — 11.1% | 10.8 % | |
Non-GAAP operating income | $154M — $174M | $164M | |
Non-GAAP operating income margins | 7.4% — 8.2% | 7.8 % | |
Interest expense, net | ($72M) — ($74M) | ($73M) | |
Non-GAAP adjusted tax rate | 39% — 43% | 41 % | |
Diluted share count | 48.0M — 48.4M | 48.2M | |
Non-GAAP earnings per a share | $0.95 — $1.20 | $1.08 | |
Engage Full Year 2025 Outlook | |||
Full Year 2025 | Full Year 2025 | ||
Revenue | $1,606M — $1,636M | $1,621M | |
Non-GAAP adjusted EBITDA | $151M — $163M | $157M | |
Non-GAAP adjusted EBITDA margins | 9.4% — 10.0% | 9.7 % | |
Non-GAAP operating income | $101M — $113M | $107M | |
Non-GAAP operating income margins | 6.3% — 6.9% | 6.6 % | |
Digital Full Year 2025 Outlook | |||
Full Year 2025 | Full Year 2025 | ||
Revenue | $458M — $478M | $468M | |
Non-GAAP adjusted EBITDA | $64M — $72M | $68M | |
Non-GAAP adjusted EBITDA margins | 13.9% — 15.0% | 14.5 % | |
Non-GAAP operating income | $53M — $61M | $57M | |
Non-GAAP operating income margins | 11.5% — 12.7% | 12.1 % | |
The company has not quantitatively reconciled its guidance for Non-GAAP operating income, Non-GAAP operating income margins, Non-GAAP adjusted EBITDA, Non-GAAP adjusted EBITDA margins, Non-GAAP adjusted tax rate, or Non-GAAP earnings per share to their respective most comparable GAAP measures because certain of the reconciling items that impact these metrics, including restructuring and impairment charges, equity-based compensation expense, changes in acquisition contingent consideration, depreciation and amortization expense, and provision for income taxes are dependent on the timing of future events outside of the Company's control or cannot be reliably predicted. Accordingly, the Company is unable to provide reconciliations to GAAP operating income, operating income margins, EBITDA margins, and diluted earnings per share without unreasonable effort. Please note that the unavailable reconciling items could significantly impact the Company's 2025 financial results as reported under GAAP.
NON-GAAP FINANCIAL MEASURES
This press release contains a discussion of certain Non-GAAP financial measures that the company includes to allow investors and analysts to measure, analyze and compare its financial condition and results of operations in a meaningful and consistent manner. A reconciliation of these Non-GAAP financial measures can be found in the tables accompanying this press release.
- GAAP metrics are presented in accordance with Generally Accepted Accounting Principles.
- Non-GAAP - As reflected in the attached reconciliation table, the definition of Non-GAAP may exclude from operating income, EBITDA, net income and earnings per share restructuring and impairment charges, equity-based compensation expenses, amortization of purchased intangibles, among other items.
EARNINGS WEBCAST/CONFERENCE CALL
TTEC will host a live webcast and conference call at 8:30 a.m. ET on Friday, August 8, 2025. You are invited to join a live webcast of the conference call by visiting the "Investors Relations" section of the TTEC website at www.ttec.com. If you are unable to participate during the live webcast, a replay will be available on the TTEC website.
ABOUT TTEC
TTEC (pronounced T-TEC) Holdings, Inc. (NASDAQ:TTEC) is a leading global CX (customer experience) technology and services innovator for AI-enabled digital CX solutions. Serving iconic and disruptive brands, TTEC's outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next-gen digital technology, the Company's TTEC Digital business designs, builds, and operates omnichannel contact center technology, CRM, AI and analytics solutions. The company's TTEC Engage business delivers AI-enabled customer engagement, customer acquisition and growth, tech support, back office, and fraud prevention services. Founded in 1982, the company's singular obsession with CX excellence has earned it leading client, customer, and employee satisfaction scores across the globe. The company's employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more visit us at https://www.ttec.com.
FORWARD-LOOKING STATEMENTS
This Earnings Press Release and related oral statements contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements relating to our operations, expected financial position, results of operation, effective tax rate, cash flow, leverage, liquidity, business strategy, profit improvement actions, competitive position, demand for our services in international operations, acquisition opportunities and impact of acquisitions, capital allocation and dividends, growth opportunities, spending, capital expenditures and investments, competition and market forecasts, industry trends, our human capital resources, and other business, operational and financial matters that are based on our current expectations, assumptions, and projections with respect to the future, and are not a guarantee of performance.
In this Release when we use words such as "may," "believe," "plan," "will," "anticipate," "estimate," "expect," "intend," "project," "would," "could," "target," or similar expressions, or when we discuss our strategy, plans, goals, initiatives, or objectives, we are making forward-looking statements. Unless otherwise indicated or except where the context otherwise requires, the terms "TTEC," "the Company," "we," "us" and "our" and other similar terms in this report refer to TTEC Holdings, Inc. and its subsidiaries. We caution you not to rely unduly on any forward-looking statements. Actual results may differ materially from those expressed in the forward-looking statements, and you should review and consider carefully the risks, uncertainties, and other factors that affect our business and may cause such differences as outlined in Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2024 and any subsequent filings with the U.S. Securities and Exchange Commission (the "SEC") which are available on TTEC's website www.ttec.com, and on the SEC's public website at www.sec.gov.
Our forward-looking statements speak only as of the date that this release is issued. We undertake no obligation to update them, except as may be required by applicable law. Although we believe that our forward-looking statements are reasonable, they depend on many factors outside of our control and we can provide no assurance that they will prove to be correct.
TTEC HOLDINGS, INC. AND SUBSIDIARIES | |||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||
(In thousands, except per share data) | |||||||||
(unaudited) | |||||||||
Three months ended | Six months ended | ||||||||
June 30, | June 30, | ||||||||
2025 | 2024 | 2025 | 2024 | ||||||
Revenue | $ 513,571 | $ 534,085 | $ 1,047,799 | $ 1,110,723 | |||||
Operating Expenses: | |||||||||
Cost of services | 399,273 | 417,890 | 813,820 | 871,708 | |||||
Selling, general and administrative | 70,654 | 73,726 | 140,691 | 148,301 | |||||
Depreciation and amortization | 22,888 | 25,071 | 45,586 | 50,216 | |||||
Restructuring charges, net | 1,116 | 5,095 | 3,112 | 5,344 | |||||
Impairment losses | 764 | 236,716 | 1,525 | 236,856 | |||||
Total operating expenses | 494,695 | 758,498 | 1,004,734 | 1,312,425 | |||||
Income / (Loss) From Operations | 18,876 | (224,413) | 43,065 | (201,702) | |||||
Other income (expense), net | (15,312) | (18,229) | (26,940) | (38,111) | |||||
Income / (Loss) Before Income Taxes | 3,564 | (242,642) | 16,125 | (239,813) | |||||
Provision for income taxes | (10,288) | (54,126) | (19,603) | (56,455) | |||||
Net Income / (Loss) | (6,724) | (296,768) | (3,478) | (296,268) | |||||
Net (loss) / income attributable to noncontrolling interest | (1,263) | (2,771) | (3,125) | (5,576) | |||||
Net Income / (Loss) Attributable to TTEC Stockholders | $ (7,987) | $(299,539) | $ (6,603) | $ (301,844) | |||||
Net Income / (Loss) Per Share | |||||||||
Basic | $ (0.14) | $ (6.24) | $ (0.07) | $ (6.24) | |||||
Diluted | $ (0.14) | $ (6.24) | $ (0.07) | $ (6.24) | |||||
Net Income / (Loss) Per Share Attributable to TTEC Stockholders | |||||||||
Basic | $ (0.17) | $ (6.30) | $ (0.14) | $ (6.35) | |||||
Diluted | $ (0.17) | $ (6.30) | $ (0.14) | $ (6.35) | |||||
Income / (Loss) From Operations Margin | 3.7 % | (42.0) % | 4.1 % | (18.2) % | |||||
Net Income / (Loss) Margin | (1.3) % | (55.6) % | (0.3) % | (26.7) % | |||||
Net Income / (Loss) Attributable to TTEC Stockholders Margin | (1.6) % | (56.1) % | (0.6) % | (27.2) % | |||||
Effective Tax Rate | 288.7 % | (22.3) % | 121.6 % | (23.5) % | |||||
Weighted Average Shares Outstanding | |||||||||
Basic | 48,064 | 47,564 | 47,918 | 47,498 | |||||
Diluted | 48,064 | 47,564 | 47,918 | 47,498 | |||||
TTEC HOLDINGS, INC. AND SUBSIDIARIES | ||||||||
SEGMENT INFORMATION | ||||||||
(In thousands) | ||||||||
(unaudited) | ||||||||
Three months ended | Six months ended | |||||||
June 30, | June 30, | |||||||
2025 | 2024 | 2025 | 2024 | |||||
Revenue: | ||||||||
TTEC Digital | $ 113,746 | $ 116,368 | $ 221,786 | $ 228,399 | ||||
TTEC Engage | 399,825 | 417,717 | 826,013 | 882,324 | ||||
Total | $ 513,571 | $ 534,085 | $ 1,047,799 | $ 1,110,723 | ||||
Income / (Loss) From Operations | ||||||||
TTEC Digital | $ 11,409 | $ 6,008 | $ 17,273 | $ 9,296 | ||||
TTEC Engage | 7,467 | (230,421) | 25,792 | (210,998) | ||||
Total | $ 18,876 | $ (224,413) | $ 43,065 | $ (201,702) | ||||
TTEC HOLDINGS, INC. AND SUBSIDIARIES | ||||
CONSOLIDATED BALANCE SHEETS | ||||
(In thousands) | ||||
(unaudited) | ||||
June 30, | December 31, | |||
2025 | 2024 | |||
ASSETS | ||||
Current assets: | ||||
Cash and cash equivalents | $ 82,559 | $ 84,991 | ||
Accounts receivable, net | 420,269 | 452,573 | ||
Prepaids and other current assets | 101,632 | 92,947 | ||
Income and other tax receivables | 23,253 | 21,785 | ||
Total current assets | 627,713 | 652,296 | ||
Property and equipment, net | 112,685 | 132,051 | ||
Operating lease assets | 100,331 | 91,263 | ||
Goodwill | 574,383 | 571,197 | ||
Other intangibles assets, net | 149,548 | 164,808 | ||
Income and other tax receivables, long-term | 20,063 | 31,781 | ||
Other assets | 110,307 | 109,984 | ||
Total assets | $ 1,695,030 | $ 1,753,380 | ||
LIABILITIES AND EQUITY | ||||
Current liabilities: | ||||
Accounts payable | $ 71,623 | $ 84,180 | ||
Accrued employee compensation and benefits | 138,985 | 137,636 | ||
Deferred revenue | 69,501 | 64,752 | ||
Current operating lease liabilities | 34,006 | 33,358 | ||
Other current liabilities | 41,174 | 34,010 | ||
Total current liabilities | 355,289 | 353,936 | ||
Long-term liabilities: | ||||
Line of credit | 882,500 | 975,000 | ||
Non-current operating lease liabilities | 78,055 | 71,008 | ||
Other long-term liabilities | 84,010 | 85,317 | ||
Total long-term liabilities | 1,044,565 | 1,131,325 | ||
Equity: | ||||
Common stock | 484 | 477 | ||
Additional paid in capital | 426,437 | 420,181 | ||
Treasury stock | (584,900) | (584,900) | ||
Accumulated other comprehensive income (loss) | (104,149) | (132,121) | ||
Retained earnings | 540,014 | 546,617 | ||
Noncontrolling interest | 17,290 | 17,865 | ||
Total equity | 295,176 | 268,119 | ||
Total liabilities and equity | $ 1,695,030 | $ 1,753,380 | ||
TTEC HOLDINGS, INC. AND SUBSIDIARIES | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
(In thousands) | |||
(unaudited) | |||
Six Months Ended | Six Months Ended | ||
June 30, | June 30, | ||
2025 | 2024 | ||
Cash flows from operating activities: | |||
Net (loss) income | $ (3,478) | $ (296,268) | |
Adjustment to reconcile net (loss) income to net cash provided by operating activities : | |||
Depreciation and amortization | 45,586 | 50,216 | |
Amortization of contract acquisition costs | 790 | 677 | |
Amortization of debt issuance costs | 985 | 985 | |
Imputed interest expense and fair value adjustments to contingent consideration | - | (1,047) | |
Provision for credit losses | 598 | 2,644 | |
Loss on disposal of assets | 597 | 1,252 | |
Impairment losses | 1,525 | 236,856 | |
Loss on dissolution of subsidiary | - | - | |
Deferred income taxes | 3,033 | 37,148 | |
Excess tax benefit from equity-based awards | 720 | 1,732 | |
Equity-based compensation expense | 7,301 | 10,916 | |
Loss / (gain) on foreign currency derivatives | (338) | 145 | |
Changes in assets and liabilities, net of acquisitions: | |||
Accounts receivable | 42,509 | 8,315 | |
Prepaids and other assets | 17,479 | (10,804) | |
Accounts payable and accrued expenses | 14,665 | (996) | |
Deferred revenue and other liabilities | (17,671) | (8,126) | |
Net cash provided by operating activities | 114,301 | 33,645 | |
Cash flows from investing activities: | |||
Proceeds from sale of property, plant and equipment | 176 | 116 | |
Purchases of property, plant and equipment | (12,587) | (27,682) | |
Net cash used in investing activities | (12,411) | (27,566) | |
Cash flows from financing activities: | |||
Net proceeds from / (repayments of) line of credit | (92,500) | (65,000) | |
Payments on other debt | (1,088) | (1,379) | |
Payments of contingent consideration and hold back payments to acquisitions | - | - | |
Dividends paid to shareholders | - | (2,847) | |
Payments to noncontrolling interest | (4,101) | (4,770) | |
Tax payments related to the issuance of restricted stock units | (1,038) | (606) | |
Payments of debt issuance costs | (200) | (1,100) | |
Net cash used in financing activities | (98,927) | (75,702) | |
Effect of exchange rate changes on cash and cash equivalents and restricted cash | (5,395) | (4,612) | |
(Decrease) in cash, cash equivalents and restricted cash | (2,432) | (74,235) | |
Cash, cash equivalents and restricted cash, beginning of period | 84,991 | 173,905 | |
Cash, cash equivalents and restricted cash, end of period | $ 82,559 | $ 99,670 | |
TTEC HOLDINGS, INC. AND SUBSIDIARIES | |||||||||||
RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION | |||||||||||
(In thousands, except per share data) | |||||||||||
(unaudited) | |||||||||||
Three months ended | Six months ended | ||||||||||
June 30, | June 30, | ||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||
Revenue | $ 513,571 | $ 534,085 | $ 1,047,799 | $ 1,110,723 | |||||||
Reconciliation of Non-GAAP Income from Operations and EBITDA: | |||||||||||
Net Income / (Loss) from Operations | $ 18,876 | $ (224,413) | $ 43,065 | $ (201,702) | |||||||
Restructuring charges, net | 1,116 | 5,095 | 3,112 | 5,344 | |||||||
Impairment losses | 764 | 236,716 | 1,525 | 236,856 | |||||||
Property costs not related to operations | - | 872 | (46) | 1,905 | |||||||
Mexico VAT consulting fees | 412 | - | 820 | - | |||||||
Liability related to notifications triggered by labor scheme (1) | - | (2,275) | - | (2,750) | |||||||
Expenses related to non-binding offer | 3,830 | - | 7,019 | - | |||||||
Equity-based compensation expenses | 4,051 | 5,104 | 7,301 | 10,916 | |||||||
Amortization of purchased intangibles | 7,738 | 8,439 | 15,488 | 16,884 | |||||||
Non-GAAP Income from Operations | $ 36,787 | $ 29,538 | $ 78,284 | $ 67,453 | |||||||
Non-GAAP Income from Operations Margin | 7.2 % | 5.5 % | 7.5 % | 6.1 % | |||||||
Depreciation and amortization | 15,150 | 16,210 | 30,098 | 32,279 | |||||||
Changes in acquisition contingent consideration | - | 193 | - | (1,047) | |||||||
Gain on property sale | (179) | - | (629) | - | |||||||
Mexico VAT Recovery | (2,719) | - | (6,625) | - | |||||||
Foreign SS Tax Recovery | - | (853) | - | (853) | |||||||
Foreign VAT receivable writeoff | - | - | - | 770 | |||||||
Foreign exchange loss / (gain), net | 3,027 | (636) | 3,777 | 556 | |||||||
Other Income (expense), net | (296) | 1,788 | 3,293 | 1,994 | |||||||
Adjusted EBITDA | $ 51,770 | $ 46,240 | $ 108,198 | $ 101,152 | |||||||
Adjusted EBITDA Margin | 10.1 % | 8.7 % | 10.3 % | 9.1 % | |||||||
Reconciliation of Non-GAAP EPS: | |||||||||||
Net Income | $ (6,724) | $ (296,768) | $ (3,478) | $ (296,268) | |||||||
Add: Asset impairment and restructuring charges | 1,880 | 241,811 | 4,637 | 242,200 | |||||||
Add: Equity-based compensation expenses | 4,051 | 5,104 | 7,301 | 10,916 | |||||||
Add: Amortization of purchased intangibles | 7,738 | 8,439 | 15,488 | 16,884 | |||||||
Add: Property costs not related to operations | - | 872 | (46) | 1,905 | |||||||
Add: Liability related to notifications triggered by labor scheme | - | (2,275) | - | (2,750) | |||||||
Add: Foreign SS Tax Recovery | - | (853) | - | (853) | |||||||
Add: Foreign VAT receivable writeoff | - | - | - | 770 | |||||||
Add: Changes in acquisition contingent consideration | - | 193 | - | (1,047) | |||||||
Add: Foreign VAT (inclusive of interest) | (5,266) | - | (13,089) | - | |||||||
Add: Fees related to non-binding offer | 3,830 | - | 7,019 | - | |||||||
Add: Gain on property sale | (179) | - | (629) | - | |||||||
Add: Foreign exchange loss / (gain), net | 3,027 | (636) | 3,777 | 556 | |||||||
Less: Changes in valuation allowance, return to provision adjustments and other, and tax effects of items separately disclosed above | 2,198 | 50,748 | 3,200 | 46,942 | |||||||
Non-GAAP Net Income | $ 10,555 | $ 6,635 | $ 24,180 | $ 19,255 | |||||||
Diluted shares outstanding | 48,064 | 47,564 | 47,918 | 47,498 | |||||||
Non-GAAP EPS | $0.22 | $0.14 | $0.50 | $0.41 | |||||||
Reconciliation of Free Cash Flow: | |||||||||||
Cash Flow From Operating Activities: | |||||||||||
Net (loss) / income | $ (6,724) | $ (296,768) | $ (3,478) | $ (296,268) | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 22,888 | 25,071 | 45,586 | 50,216 | |||||||
Other | 76,545 | 320,971 | 72,193 | 279,697 | |||||||
Net cash provided by operating activities | 92,709 | 49,274 | 114,301 | 33,645 | |||||||
Less - Total Cash Capital Expenditures | 7,181 | 14,209 | 12,587 | 27,682 | |||||||
Free Cash Flow | $ 85,528 | $ 35,065 | $ 101,714 | $ 5,963 | |||||||
(1) - For further information, please see discussion in the Risk Factors section of the 2024 Form 10-K filed on February 27, 2025. |
Reconciliation of Non-GAAP Income from Operations and Adjusted EBITDA by Segment : | ||||||||||||||
TTEC Engage | TTEC Digital | TTEC Engage | TTEC Digital | |||||||||||
Q2 25 | Q2 24 | Q2 25 | Q2 24 | YTD 25 | YTD 24 | YTD 25 | YTD 24 | |||||||
(Loss) / Income from Operations | $ 7,467 | $ (230,421) | $ 11,409 | $ 6,008 | $ 25,792 | $ (210,999) | $ 17,273 | $ 9,297 | ||||||
Restructuring charges, net | 887 | 4,842 | 229 | 253 | 2,179 | 5,495 | 932 | (151) | ||||||
Impairment losses | 567 | 234,205 | 197 | 2,511 | 1,287 | 234,345 | 239 | 2,511 | ||||||
Property costs not related to operations | - | 872 | - | - | (46) | 1,905 | - | - | ||||||
Mexico VAT Consulting Fees | 412 | - | - | - | 820 | - | - | - | ||||||
Expenses related to non-binding offer | 2,592 | - | 1,238 | - | 5,225 | - | 1,794 | - | ||||||
Liability related to notifications triggered by labor scheme | - | (2,275) | - | - | - | (2,750) | - | - | ||||||
Equity-based compensation expenses | 2,417 | 3,264 | 1,634 | 1,840 | 4,440 | 7,047 | 2,861 | 3,869 | ||||||
Amortization of purchased intangibles | 4,082 | 4,101 | 3,656 | 4,338 | 8,149 | 8,208 | 7,339 | 8,676 | ||||||
Non-GAAP Income from Operations | $ 18,424 | $ 14,588 | $ 18,363 | $ 14,950 | $ 47,846 | $ 43,251 | $ 30,438 | $ 24,202 | ||||||
Depreciation and amortization | 12,342 | 13,534 | 2,808 | 2,676 | 24,481 | 26,891 | 5,617 | 5,388 | ||||||
Changes in acquisition contingent consideration | - | 193 | - | - | - | (1,047) | - | - | ||||||
Gain on Property Sale | (179) | - | - | - | (629) | - | - | - | ||||||
Mexico VAT Recovery | (2,719) | - | - | - | (6,625) | - | - | - | ||||||
Foreign VAT receivable writeoff | - | - | - | - | - | 770 | - | - | ||||||
Foreign SS Tax Recovery | - | (853) | - | - | - | (853) | - | - | ||||||
Foreign exchange loss / (gain), net | 2,821 | (585) | 206 | (51) | 3,572 | 793 | 205 | (238) | ||||||
Other Income (expense), net | (89) | 1,733 | (207) | 55 | 3,498 | 1,777 | (205) | 218 | ||||||
Adjusted EBITDA | $ 30,600 | $ 28,610 | $ 21,170 | $ 17,630 | $ 72,143 | $ 71,582 | $ 36,055 | $ 29,570 | ||||||
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SOURCE TTEC Holdings, Inc.