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TTEC Announces Second Quarter 2025 Financial Results

By PR Newswire | August 07, 2025, 4:05 PM

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

Guidance



Full Year 2025

Mid-Point

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

Guidance



Full Year 2025

Mid-Point

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

Guidance



Full Year 2025

Mid-Point

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.

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