Welcome to our dedicated page for TTEC Holdings news (Ticker: TTEC), a resource for investors and traders seeking the latest updates and insights on TTEC Holdings stock.
TTEC Holdings, Inc. (NASDAQ:TTEC) is a prominent global player in the customer experience (CX) technology and services sector. Established in 1982, TTEC has been at the forefront of delivering innovative AI-enabled CX solutions that cater to both iconic and disruptive brands. The company operates through two main segments: TTEC Digital and TTEC Engage.
TTEC Digital focuses on creating and implementing cloud-based and on-premises customer experience tools that help clients develop comprehensive customer engagement strategies. This segment leverages next-gen digital and cognitive technology to design, build, and operate omnichannel contact center technology, CRM, automation (AI/ML and RPA), and analytics solutions.
TTEC Engage is dedicated to delivering sales and marketing solutions aimed at boosting client revenue. It manages customer front-to-back office processes to enhance the overall customer experience. This segment provides digital customer engagement, customer acquisition and growth, content moderation, fraud prevention, and data annotation solutions.
Serving a diverse clientele across the United States, Canada, Asia-Pacific, and India, TTEC has earned high client NPS scores globally. Its 64,400 employees operate on six continents, merging technology with human expertise to deliver exceptional customer outcomes.
Recently, TTEC has received several accolades, including being named the Cisco Partner Summit 2023 Collaboration Partner of the Year for the U.S. West Region. The company has also been certified as a Great Place to Work® in 14 countries, highlighting its commitment to fostering a positive workplace culture.
Latest news from TTEC includes the results of its inaugural AI Readiness Assessment, which indicates a shift from AI hype to practical implementation demands. Additionally, the company announced the appointment of Kenneth R. Wagers III as the new Chief Financial Officer, effective March 1, 2024.
TTEC continues to make strides in the digital transformation of customer interactions, driving revenue growth and improving customer loyalty through its innovative solutions and strategic partnerships. The company’s financial health remains robust, with a focus on sustainable growth initiatives and debt reduction.
TTEC Digital, a division of TTEC Holdings Inc. (NASDAQ:TTEC), has achieved the Microsoft Business Applications 2024/2025 Inner Circle Award for the ninth consecutive year. This recognition is based on outstanding sales achievements and innovation, placing TTEC Digital in the top tier of Microsoft's global partner network. The company's expertise in customer experience (CX) consulting, software, and technology services has been instrumental in helping major industries transform their CX strategies.
TTEC Digital boasts over 1,400 certifications and a four-decade partnership with Microsoft. In 2024, it was named a launch partner for Microsoft's new Dynamics 365 Contact Center. The company has also developed a Workforce Management (WFM) Adapter for Microsoft Dynamics 365 Customer Service, enhancing contact center management capabilities.
TTEC Holdings, Inc. (NASDAQ:TTEC) has received an unsolicited proposal from its founder, Chairman, and CEO Kenneth Tuchman to take the company private. The offer proposes to purchase all outstanding shares not already owned by Tuchman and his affiliates at $6.85 per share, representing a 55% premium to the 30-day volume-weighted average price and a 69% premium to the most recent closing price.
Tuchman, who beneficially owns approximately 58% of TTEC's common stock, believes that returning to a private structure would benefit all stakeholders by providing liquidity to public shareholders and allowing the company to operate with greater flexibility. The proposal is subject to various conditions, including financing, negotiation of a definitive agreement, and approval by both a Special Committee of independent directors and a majority of non-affiliated shareholders.
TTEC's Board has established a Special Committee to evaluate the proposal. There is no assurance that a definitive offer will be made or that any transaction will be approved or completed.
TTEC Holdings, Inc. (NASDAQ: TTEC), a global CX technology and services innovator, has received multiple workplace culture awards across various countries. These recognitions highlight TTEC's success in creating an environment that prioritizes diversity, employee development, well-being, and innovation.
Key achievements include being honored among the 2024 Best Companies to Work for in Asia, winning gold and silver at the 2024 HR Excellence Awards – Philippines, and being named to UK's Best Workplaces 2024 for Development™, Wellbeing™, and Women™. TTEC's workplace culture combines strategic use of AI to enhance employee experience, focus on impactful learning and development, and a tradition of celebrating achievements.
TTEC's employee-first strategy has proven instrumental in driving innovation and leadership in the rapidly evolving, AI-enhanced CX industry.
TTEC (NASDAQ:TTEC) reported its Q2 2024 financial results, with revenue of $534.1 million, an 11% decrease YoY. Operating loss was $224.4 million, largely due to $233.5 million in non-cash goodwill impairments.
Net loss reached $296.8 million, translating to a loss per share of $6.23. Non-GAAP net income, however, was $6.6 million with $0.14 per share.
The Adjusted EBITDA was $46.2 million, or 8.7% of revenue. Cash flow from operations was $49.3 million, while capital expenditures were $14.2 million. The company's net debt position increased to $853.4 million.
Segment-wise, TTEC Digital saw a modest 1% decline in revenue to $116.4 million, while TTEC Engage experienced a 13.5% drop to $417.7 million. The outlook for FY 2024 remains cautious, with TTEC adjusting its guidance to reflect current market challenges.
TTEC Holdings, Inc. (NASDAQ: TTEC) has been named to CRM Magazine's Top 100 list, recognizing its innovative approach to customer experience (CX) that blends human empathy with AI-powered solutions. This prestigious acknowledgment highlights TTEC's commitment to enhancing customer interactions through its TTEC Engage and TTEC Digital divisions.
The recognition comes as the CRM industry faces significant shifts, with AI, machine learning, data analytics, and omnichannel engagement emerging as key trends. TTEC's inclusion in the list underscores its leadership in these areas, offering AI-enhanced CX solutions that combine cutting-edge technology with human-centric services.
TTEC's approach, dubbed 'the point of conversation,' integrates advanced technology and human insight to create exceptional customer experiences. This strategy is reflected in both TTEC Digital's CX consulting and technology services and TTEC Engage's AI-enhanced business process outsourcing expertise.
TTEC Holdings, Inc. (NASDAQ:TTEC), a global leader in AI-enabled customer experience (CX) solutions, has announced its schedule for the release of second quarter 2024 earnings. The company will release its earnings results after market close on Thursday, August 8, 2024, followed by a press release. A live webcast and conference call will be held at 8:30 a.m. ET on Friday, August 9, 2024.
Investors and interested parties are invited to join the live webcast through the 'Investors Relations' section of the TTEC website. For those unable to attend the live event, a replay will be made available on the company's website.
TTEC, a global CX technology and services leader, has been recognized as a Major Contender and Star Performer in Everest Group's Trust and Safety Services PEAK Matrix® Assessment 2024. This accolade highlights TTEC's exceptional delivery of trust and safety solutions. According to the assessment, TTEC has made a significant market impact and demonstrated strong vision and capability. TTEC's solutions, enhanced by AI and machine learning, help clients build robust trust and safety frameworks, mitigate risks, and safeguard customer interests. The recognition underscores TTEC's commitment to innovation and excellence in customer experience.
TTEC Holdings, Inc. (NASDAQ:TTEC) announced financial results for Q1 2024 with revenue of $576.6 million, down 8.9%. Operating income was $22.7 million, net income $0.5 million. Adjusted EBITDA was $54.9 million. Fully diluted EPS was $0.01. Outlook reiterated for full year 2024. The company saw positive momentum in TTEC Digital and aims for increased profitability in TTEC Engage. Cash flow for Q1 was ($15.6) million. The company had cash equivalents of $91.5 million and a net debt of $865.3 million. The Board declared a dividend of $0.06 per share. Segment reporting showed decreases in revenue for both TTEC Digital and TTEC Engage. The company expressed confidence in the CX marketplace and its technology capabilities.
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