Financial Performance and Liquidity - Cash and cash equivalents decreased from $172.7 million in 2023 to $85.0 million in 2024, indicating a significant reduction in liquidity[295]. - The company reported net cash flows used in operating activities of ($58.8) million for 2024, a decrease of $203.6 million from the previous year[297]. - The company suspended its semi-annual cash dividend in November 2024 as part of a strategy to prioritize debt reduction[183]. - The company’s remaining borrowing capacity was approximately $225 million as of December 31, 2024, indicating limited financial flexibility[292]. - Free cash flow decreased significantly from $76.9 million in 2023 to negative $104.0 million in 2024, mainly due to a decrease in working capital and net cash income[300]. - Net cash flows from investing activities improved from a negative $67.6 million in 2023 to a positive $0.5 million in 2024, primarily due to a $45.5 million real estate asset sale and a $22.7 million decrease in capital expenditures[298]. - Net cash flows from financing activities improved from a negative $68.2 million in 2023 to a negative $38.3 million in 2024, driven by a $46.4 million reduction in dividends paid and a $37.7 million reduction in contingent consideration payments[299]. Debt and Credit Facilities - The credit facility was amended to increase the net leverage ratio covenant to up to 5.15 to 1 and the minimum interest coverage ratio to not less than 2.00 to 1, effective through March 31, 2026, with total lenders' commitment reduced from $1.5 billion to $1.2 billion[119]. - As of December 31, 2024, the company had borrowings of $975.0 million under its Credit Facility, with an average daily utilization of $1,050.3 million for the year[292]. - The maximum leverage ratio permitted under the revised Credit Agreement is 5.15 to 1.00, with a gradual tightening expected through 2026[292]. - The company entered into a Ninth Amendment to the Credit Agreement, allowing a maximum leverage ratio of up to 5.15 to 1.00 and reducing total lenders' commitment from $1.3 billion to $1.2 billion[310]. Operational Risks and Challenges - The company faces inflationary pressures that have increased labor costs and other operational necessities, impacting profitability[124]. - The company’s contracts often do not allow for fee escalations that match rising operational costs, which could adversely affect financial performance[130]. - The company faces significant operational risks due to geographic concentration in locations outside the United States, particularly in the Philippines, India, Mexico, Bulgaria, and South Africa[171]. - The company is subject to financial and operating restrictions in its credit agreement, which may limit its ability to engage in mergers or pay dividends[120]. - The company may face costly litigation and reputational damage due to wage and hour class action lawsuits, particularly in California[160]. - The company’s operations are subject to various risks, including political and economic instability, which could adversely affect service delivery and financial results[172]. Technology and Cybersecurity - The company has made significant investments to enhance its information technology environment following past cybersecurity incidents[144]. - Significant investments in cybersecurity are ongoing, with no expected decrease in spending to mitigate potential threats to information systems[319]. - Cybersecurity incidents in 2021 did not materially impact results, but future incidents could have significant effects on operations and financial results[144]. - The company is increasingly incorporating AI technologies into its business, which presents risks and unintended consequences that could materially impact its results of operations[149]. - The company’s reliance on third parties for data, software, and cloud services increases vulnerability to service disruptions and cybersecurity risks[151]. Regulatory Environment - The company’s financial results may be affected by changes in laws and regulations, particularly those related to data privacy and protection, which have seen significant increases in enforcement activity[156]. - The evolving regulatory environment surrounding AI technologies may increase costs and liabilities for the company[161]. - The company’s ability to maintain necessary licenses for regulated services is critical, as failure to comply with regulations could lead to significant business losses[165]. Strategic Initiatives - The company has instituted cost reduction measures in 2024 to align overhead costs with changing revenue and profitability metrics[122]. - The company derived approximately 34% of its revenue from operations outside the United States in 2024[166]. - The company received a non-binding proposal from its founder and CEO to take the company private, which is currently under evaluation by a Special Committee[173]. - The company's stock price has experienced significant volatility due to uncertainties surrounding the potential Take Private Transaction, impacting its ability to retain key personnel and relationships with customers[175]. - The company may consider mergers, acquisitions, and other transactions that could materially impact its financial condition and operational results[306]. - The company’s profitability is dependent on effective cost management strategies, including optimizing resource capacity and offshoring certain functions[121]. - Future contractual obligations primarily relate to debt, leases, and income taxes, with a focus on maintaining compliance with financial covenants[303]. - The company’s five largest clients accounted for 32% of annual revenue in 2024, down from 36% in 2023, indicating a slight diversification in client revenue concentration[317].

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 RevenueFull 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 RevenueProvides Outlook for Full Year 2025AUSTIN, ...

Company celebrates grand opening, driving CX innovation in the region DENVER and CAIRO, Feb. 13, 2025 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ: TTEC), a leading global CX (customer experience) technology and services innovator for AI-enhanced CX, celebrated the grand opening of its new site in Cairo's Maadi Technology Park last week, marking a significant expansion of its operations in Egypt. This milestone was further celebrated by the recent addition of a prominent provider of on-demand pay solutions t ...

DENVER, Feb. 7, 2025 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ:TTEC), a leading global CX (customer experience) technology and services innovator for AI-enabled CX solutions, announced today that TTEC will release its earnings results after market close on Thursday, February 27, 2025, when a press release will be issued. The Company will host a live webcast and conference call at 8:30 a.m. ET on Friday, February 28, 2025. You are invited to join a live webcast of the conference call by visiting the "Inves ...

TTEC Holdings, Inc. (NASDAQ: TTEC ) reports experience of many years in the customer experience industry and appears to be in a transition period. Start-up costs, investments in artificial intelligence, and reorganization could explain the most recent decline in the company's operatingLondon Stock Market Research is a service offered by an ex-investment banker from the city of London. After around 11 years in the industry, I decided to drop out, and made dollars out of what I learned in business. I apprecia ...

DENVER, Dec. 19, 2024 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ: TTEC), a leading global CX (customer experience) technology and services innovator for AI-enhanced CX with solutions from TTEC Engage and TTEC Digital, has achieved Silver Certification in Management Leadership for Tomorrow's (MLT) Black Equity at Work program, demonstrating the company's measurable progress in advancing racial equity.The certification, granted by MLT, a premier national organization advancing racial equity, recognizes TTEC' ...

DENVER, Dec. 16, 2024 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ: TTEC), a leading global CX (customer experience) technology and services innovator for AI-enhanced CX with solutions from TTEC Engage and TTEC Digital, today announced that TTEC Digital has been recognized as the Cisco Reimagine Customer Experiences Partner of the Year – Americas. "In collaboration with Cisco, TTEC Digital is helping industry leaders in banking, healthcare, insurance, government services, and more improve their customer expe ...

DENVER, Dec. 12, 2024 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ: TTEC), a leading global CX (customer experience) technology and services innovator for AI-enhanced CX with solutions from TTEC Engage and TTEC Digital, has identified the top five trends shaping CX in 2025. These advancements reflect the transformative impact of AI, data, and global connectivity in enhancing customer interactions."2025 will be a pivotal year for customer experience as AI, data, and technology converge to unlock extraordinary ...

DENVER, Dec. 2, 2024 /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, today announced that TTEC Digital has completed the first phases of a successful global sales process optimization program with Westcon-Comstor, a global technology provider and specialist distributor.Westcon-Comstor operates across EMEA and APAC, connecting the world's leading IT vendors with a ...

DENVER, Nov. 20, 2024 /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 that TTEC Digital has been recognized as a Major Contender in the 2024 Everest Group PEAK Matrix® Assessment for Digital Transformation Services for Mid-market Enterprises.Everest Group's PEAK Matrix is a renowned industry benchmark that assesses service providers based on their ...