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Dec 31, 2024
TTEC Q4 2024 Earnings Report
TTEC Holdings, Inc. reported a challenging transitional year in 2024, with a decrease in revenue and a net loss, but showed progress in strategic priorities and anticipates healthier financial performance in 2025.
Key Takeaways
TTEC Holdings, Inc. announced its fourth quarter and full year 2024 financial results, reporting a Q4 revenue of $567.4 million, a 9.4% decrease year-over-year, and a net income of $4.6 million. For the full year, revenue was $2.208 billion, down 10.4%, with a net loss of $310.6 million. Despite the challenging year, the company highlighted progress in its diversification strategy, digital CX value proposition, and profitability improvement initiatives, providing an optimistic outlook for 2025.
Fourth quarter 2024 GAAP revenue was $567.4 million, a 9.4 percent decrease compared to the prior year.
Net income for Q4 2024 was $4.6 million, or 0.8 percent of revenue, while Adjusted EBITDA was $50.9 million, or 9.0 percent of revenue.
Full year 2024 GAAP revenue was $2.208 billion, a 10.4 percent decrease, with a net loss of $310.6 million.
The company anticipates healthier financial performance in 2025, driven by profit optimization initiatives and expanded CX technology offerings.
Revenue by Segment
Forward Guidance
TTEC's full year 2025 outlook projects revenue between $2.014 billion and $2.064 billion, with Non-GAAP adjusted EBITDA ranging from $215 million to $235 million, and Non-GAAP earnings per share between $0.95 and $1.20.
Positive Outlook
- Projected Non-GAAP adjusted EBITDA margins of 10.7% to 11.4% for FY 2025.
- Anticipated Non-GAAP operating income margins of 7.6% to 8.4% for FY 2025.
- TTEC Engage segment is expected to maintain strong profitability with Non-GAAP adjusted EBITDA margins of 9.7% to 10.3%.
- TTEC Digital segment is projected to have robust Non-GAAP adjusted EBITDA margins of 13.9% to 15.0%.
- The company expects to return to growth in its Digital segment through expanded CX technology offerings.
Challenges Ahead
- Interest expense, net is projected to be a negative impact, ranging from ($75M) to ($79M).
- The company is unable to provide GAAP reconciliations for forward-looking Non-GAAP metrics due to unpredictable reconciling items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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