Business
TTEC Announces Fourth Quarter and Full Year 2024 Financial Results
Fourth Quarter 2024Revenue was $567.4 Million, down 9.4 PercentNet Income was $4.6 Million or 0.8 Percent of Revenue($9.0 Million or 1.6 Percent of Revenue
About this update from Ttec Holdings, Inc.
[{"type":"text","content":"Fourth Quarter 2024Revenue was $567.4 Million, down 9.4 PercentNet Income was $4.6 Million or 0.8 Percent of Revenue($9.0 Million or 1.6 Percent of Revenue Non-GAAP)Adjusted EBITDA was $50.9 Million or 9.0 Percent of Revenue\nFull Year 2024Revenue was $2.208 Billion, down 10.4 PercentNet Loss of $310.6 Million or negative 14.1 Percent of Revenue(Net Income of $33.6 Million or 1.5 Percent of Revenue Non-GAAP)Adjusted EBITDA was $202.3 Million or 9.2 Percent of Revenue\nProvides Outlook for Full Year 2025\nAUSTIN, Texas, Feb. 27, 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 fourth quarter and full year ended December 31, 2024.\n\"2024 was a challenging transitional year for TTEC. However, we continued to advance our three top priorities, including enhancing our diversification strategy with an expanded geographic delivery footprint and client portfolio, broadening our end-to-end digital CX value proposition with differentiated, technology-enabled solutions, and achieving our goal of meeting or exceeding our historical growth and margin targets,\" commented Ken Tuchman, chairman and chief executive officer of TTEC.\n\"With our strengthened leadership alongside the actions we have taken in the second half of the year, we are on our way to healthier financial performance in 2025 and beyond,\" Tuchman continued. \nFOURTH QUARTER 2024 FINANCIAL HIGHLIGHTS \nRevenue \nFourth quarter 2024 GAAP revenue was $567.4 million, a 9.4 percent decrease compared to $626.2 million in the prior year.Foreign exchange had a $2.1 million negative impact on revenue in the fourth quarter of 2024.Income from Operations\nFourth quarter 2024 GAAP income from operations was $15.3 million, or 2.7 percent of revenue, compared to $16.9 million, or 2.7 percent of revenue in the prior year.Non-GAAP income from operations, excluding restructuring and impairment charges, equity-based compensation expenses, amortization of purchased intangibles, and other items, was $34.9 million, or 6.2 percent of revenue, compared to $41.8 million, or 6.7 percent of revenue in the prior year.Foreign exchange had a $4.4 million positive impact on Non-GAAP income from operations in the fo...