TTEC Holdings, Inc. reported a revenue of $534.2 million for the first quarter of 2025, a decrease of $42.4 million, or 7.4%, compared to $576.6 million in the same period of 2024. The decline was attributed to a $4.0 million decrease in the TTEC Digital segment and a more significant $38.4 million drop in the TTEC Engage segment. The company noted that foreign currency fluctuations accounted for a $6.0 million reduction in revenue. Despite the revenue decline, TTEC's income from operations increased by $1.5 million, or 6.6%, to $24.2 million, reflecting an operating margin improvement from 3.9% to 4.5%.
In terms of operational metrics, TTEC's offshore customer experience centers, which serve clients in the U.S. and other countries, accounted for 34% of the revenue in the first quarter of 2025, up from 32% in the prior year. The total production workstations for the TTEC Engage segment decreased by 1,600 to 29,140, with an overall capacity utilization rate of 71%, down from 76% in the previous year. The company plans to selectively retain and grow capacity while expanding into new offshore markets.
TTEC's financial position showed a slight increase in cash and cash equivalents, totaling $85.1 million as of March 31, 2025, compared to $85.0 million at the end of 2024. The company generated $21.6 million in operating cash flows during the first quarter, a significant improvement from a cash outflow of $15.6 million in the same period last year. The decrease in cash used in investing activities was also notable, dropping to $5.3 million from $13.4 million, primarily due to a reduction in capital expenditures.
Strategically, TTEC is focused on enhancing its competitive position through investments in innovation and service offerings. The company is also evaluating a proposal from its founder and CEO, Kenneth Tuchman, to take the company private at a proposed price of $6.85 per share. The special committee established by the Board of Directors is currently reviewing this proposal. Looking ahead, TTEC aims to continue expanding its geographic footprint and client base while managing risks associated with foreign currency fluctuations and operational costs.
About TTEC Holdings, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.