AUSTIN, Texas, Nov. 09, 2026 (GLOBE NEWSWIRE) — TTEC Holdings, Inc. (NASDAQ:TTEC), a leading global technology, consulting and managed services company focused on delivering solutions at the intersection of data, AI and customer experience, announced today financial results for the third quarter ended September 30, 2026.
“Our third-quarter results show that the specific plans we laid out for this year are taking hold. Across TTEC Engage and TTEC Digital, we executed against our commitments; improving sales pipeline quality, strengthening program economics, expanding margins, and putting purpose-built AI tools into the hands of our frontline teams to create better outcomes for our clients and their customers,” commented Ken Tuchman, TTEC chairman and chief executive officer.
Tuchman continued, “We recognize that there is more work ahead to return to our historical levels of growth and profitability, but the progress is measurable and improving. Our clients have said that they need a partner who can bring AI and human expertise together securely and at scale, and that is what we are delivering. With a healthy backlog and a team focused on execution, we enter the fourth quarter with momentum and confidence in our direction.”
THIRD QUARTER 2026 FINANCIAL HIGHLIGHTS
Revenue
Third quarter 2026 GAAP revenue was $492.2 million, a 5.2 percent decrease compared to $519.1 million in the prior year.Foreign exchange had a $2.1 million negative impact on revenue in the third quarter of 2026.
Income from Operations
Third quarter 2026 GAAP income from operations was $23.3 million, or 4.7 percent of revenue, compared to $12.3 million, or 2.4 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 $37.3 million, or 7.6 percent of revenue, compared to $28.9 million, or 5.6 percent of revenue in the prior year.Foreign exchange had a $1.5 million positive impact on Non-GAAP income from operations in the third quarter of 2026.
Adjusted EBITDA
Third quarter 2026 Non-GAAP Adjusted EBITDA was $51.5 million, or 10.5 percent of revenue, compared to $43.4 million, or 8.4 percent of revenue in the prior year.
Earnings Per Share
Third quarter 2026 GAAP fully diluted net loss per share was $0.06 compared to net loss per share of $0.23 in the prior year.Non-GAAP fully diluted earnings per share was $0.22 compared to $0.12 in the prior year.
CASH FLOW AND BALANCE SHEET
Cash flow from operations in the third quarter of 2026 was $37.0 million compared to $4.2 million for the third quarter of 2025.
Free cash flow in the third quarter of 2026 was a positive $27.9 million compared to negative $9.6 million for the third quarter of 2025.
Capital expenditures in the third quarter of 2026 were $9.1 million compared to $13.8 million for the third quarter of 2025.As of September 30, 2026, TTEC had cash and cash equivalents of $91.1 million and debt of $834.7 million, resulting in a net debt position of $743.6 million. This compares to a net debt position of $812.5 million for the same period in 2025.On November 9, 2026, TTEC extended the term of its Credit Facility to November 2028. For further details about our Credit Facility and its terms, please refer to our disclosure in our quarterly report on Form 10-Q.
SEGMENT REPORTING & COMMENTARY
TTEC reports financial results for TTEC Digital and TTEC Engage business segments. Financial highlights for the two business segments are provided below.
TTEC Digital
Third quarter 2026 GAAP revenue for TTEC Digital was $122.1 million, an increase of 0.2 percent compared to $121.9 million for the year ago period.Income from operations was $6.7 million or 5.5 percent of revenue compared to $4.9 million or 4.0 percent of revenue in the prior year.Non-GAAP income from operations was $12.5 million, or 10.3 percent of revenue compared to operating income of $11.6 million or 9.5 percent of revenue in the prior year.
TTEC Engage
Third quarter 2026 GAAP revenue for TTEC Engage was $370.1 million, a 6.8 percent decrease from $397.2 million for the year ago period.Income from operations was $16.6 million or 4.5 percent of revenue compared to $7.5 million or 1.9 percent of revenue in the prior year.Non-GAAP income from operations was $24.8 million, or 6.7 percent of revenue, compared to operating income of $17.3 million, or 4.3 percent of revenue in the prior year.Foreign exchange had a $2.1 million negative impact on revenue and a $1.4 million positive impact on income from operations.
BUSINESS OUTLOOK
“Our third quarter financial results delivered strong profitable growth across both segments, reflecting our disciplined execution of our 2026 priorities. In Engage, our continued focus on right shoring delivery, rationalizing and improving underperforming client programs, managing costs and driving operational efficiencies is resulting in margin improvement. Our Digital segment continues to perform in line with expectations with solid double-digit expansion in our growth practices. As a result, we expect the fourth quarter to continue to reflect higher margins both sequentially and year-over-year for both segments,” commented Kenny Wagers, chief financial officer of TTEC.
Wagers continued, “The third quarter also delivered solid cash flow as we continue to deleverage our balance sheet. Year to date, we have generated approximately $88 million of free cash flow and reduced our net debt by over $81 million, ending in a net debt position of $744 million. We successfully amended our credit facility, extending the maturity date to the fourth quarter of 2028, providing us flexibility to continue to execute on our strategic priorities.”
TTEC Full Year 2026 Outlook Full Year 2026 Guidance Full Year 2026 Mid-PointRevenue$1,940M — $1,990M$1,965MNon-GAAP adjusted EBITDA$205M — $225M $215MNon-GAAP adjusted EBITDA margins10.6% — 11.3% 10.9%Non-GAAP operating income$145M — $165M $155MNon-GAAP operating income margins7.5% — 8.3% 7.9%Interest expense, net($70M) — ($72M) ($71M)Non-GAAP adjusted tax rate48% — 50% 49%Diluted share count48.7M — 49.3M 49.0MNon-GAAP earnings per a share$0.79 — $0.99 $0.89 Engage Full Year 2026 Outlook Full Year 2026 Guidance Full Year 2026 Mid-PointRevenue$1,520M — $1,550M$1,535MNon-GAAP adjusted EBITDA$149M — $161M $155MNon-GAAP adjusted EBITDA margins9.8% — 10.4% 10.1%Non-GAAP operating income$100M — $112M $106MNon-GAAP operating income margins6.6% — 7.2% 6.9% Digital Full Year 2026 Outlook Full Year 2026 Guidance Full Year 2026 Mid-PointRevenue$420M — $440M $430MNon-GAAP adjusted EBITDA$56M — $64M $60MNon-GAAP adjusted EBITDA margins13.3% — 14.6% 14.0%Non-GAAP operating income$45M — $53M $49MNon-GAAP operating income margins10.6% — 12.0% 11.3%
The company has not quantitatively reconciled its guidance for Non-GAAP operating income, Non-GAAP operating income margins, Non-GAAP adjusted EBITDA, Non-GAAP adjusted EBITDA margins, Non-GAAP adjusted tax rate, or Non-GAAP earnings per share to their respective most comparable GAAP measures because certain of the reconciling items that impact these metrics, including restructuring and impairment charges, equity-based compensation expense, changes in acquisition contingent consideration, depreciation and amortization expense, and provision for income taxes are dependent on the timing of future events outside of the Company’s control or cannot be reliably predicted. Accordingly, the Company is unable to provide reconciliations to GAAP operating income, operating income margins, EBITDA margins, and diluted earnings per share without unreasonable effort. Please note that the unavailable reconciling items could significantly impact the Company’s 2026 financial results as reported under GAAP.
NON-GAAP FINANCIAL MEASURES
This press release contains a discussion of certain Non-GAAP financial measures that the company includes to allow investors and analysts to measure, analyze and compare its financial condition and results of operations in a meaningful and consistent manner. A reconciliation of these Non-GAAP financial measures can be found in the tables accompanying this press release.
GAAP metrics are presented in accordance with Generally Accepted Accounting Principles.
Non-GAAP – As reflected in the attached reconciliation table, the definition of Non-GAAP may exclude from operating income, EBITDA, net income and earnings per share restructuring and impairment charges, equity-based compensation expenses, and amortization of purchased intangibles, among other items.
EARNINGS WEBCAST/CONFERENCE CALL
TTEC will host a live webcast and conference call at 8:30 a.m. ET on Tuesday, November 10, 2026. You are invited to join a live webcast of the conference call by visiting the “Investors Relations” section of the TTEC website at www.ttec.com. If you are unable to participate during the live webcast, a replay will be available on the TTEC website.
ABOUT TTEC
TTEC (pronounced T-TEC) Holdings, Inc. (NASDAQ:TTEC) is a leading global CX (customer experience) technology and services innovator for AI-enabled digital CX solutions. Serving iconic and disruptive brands, TTEC’s outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next-gen digital technology, the Company’s TTEC Digital business designs, builds, and operates omnichannel contact center technology, CRM, AI and analytics solutions. The company’s TTEC Engage business delivers AI-enabled customer engagement, customer acquisition and growth, tech support, back office, and fraud prevention services. Founded in 1982, the company’s singular obsession with CX excellence has earned it leading client, customer, and employee satisfaction scores across the globe. The company’s employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more visit us at https://www.ttec.com.
FORWARD-LOOKING STATEMENTS
This Earnings Press Release and related oral statements contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements relating to our operations, expected financial position, results of operation, effective tax rate, cash flow, leverage, liquidity, business strategy, profit improvement actions, competitive position, demand for our services in international operations, acquisition opportunities and impact of acquisitions, capital allocation and dividends, growth opportunities, spending, capital expenditures and investments, competition and market forecasts, industry trends, our human capital resources, and other business, operational and financial matters that are based on our current expectations, assumptions, and projections with respect to the future, and are not a guarantee of performance.
In this Earnings Release when we use words such as “may,” “believe,” “plan,” “will,” “anticipate,” “estimate,” “expect,” “intend,” “project,” “would,” “could,” “target,” or similar expressions, or when we discuss our strategy, plans, goals, initiatives, or objectives, we are making forward-looking statements. Unless otherwise indicated or except where the context otherwise requires, the terms “TTEC,” “the Company,” “we,” “us” and “our” and other similar terms in this report refer to TTEC Holdings, Inc. and its subsidiaries. We caution you not to rely unduly on any forward-looking statements. Actual results may differ materially from those expressed in the forward-looking statements, and you should review and consider carefully the risks, uncertainties, and other factors that affect our business and may cause such differences as outlined in Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025 and any subsequent filings with the U.S. Securities and Exchange Commission (the “SEC”) which are available on TTEC’s website www.ttec.com, and on the SEC’s public website at www.sec.gov.
Our forward-looking statements speak only as of the date that this release is issued. We undertake no obligation to update them, except as may be required by applicable law. Although we believe that our forward-looking statements are reasonable, they depend on many factors outside of our control and we can provide no assurance that they will prove to be correct.
Corporate Comms
Meredith Matthews
meredith.matthews@ttec.com
Investor Relations
Robert Belknapp
bob.belknapp@ttec.com
TTEC HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (unaudited) Three months ended Nine months ended September 30, September 30, 2026
2025
2026
2025
Revenue $492,245 $519,143 $1,443,915 $1,566,942 Operating Expenses: Cost of services 382,077 413,635 1,127,776 1,227,455 Selling, general and administrative 63,328 68,941 191,121 209,632 Depreciation and amortization 21,723 22,026 64,169 67,612 Restructuring charges, net 1,269 1,771 5,083 4,883 Impairment losses 555 441 2,969 1,966 Total operating expenses 468,952 506,814 1,391,118 1,511,548 Income From Operations 23,293 12,329 52,797 55,394 Other income (expense), net (16,538) (12,278) (47,824) (39,218) Income / (Loss) Before Income Taxes 6,755 51 4,973 16,176 Provision for income taxes (9,507) (11,117) (25,910) (30,720) Net Income / (Loss) (2,752) (11,066) (20,937) (14,544) Net (loss) / income attributable to noncontrolling interest (2,282) (2,305) (7,084) (5,430) Net Income / (Loss) Attributable to TTEC Stockholders$(5,034) $(13,371) $(28,021) $(19,974) Net Income / (Loss) Per Share Basic $(0.06) $(0.23) $(0.43) $(0.30) Diluted $(0.06) $(0.23) $(0.43) $(0.30) Net Income / (Loss) Per Share Attributable to TTEC Stockholders Basic $(0.10) $(0.28) $(0.57) $(0.42) Diluted $(0.10) $(0.28) $(0.57) $(0.42) Income From Operations Margin 4.7% 2.4% 3.7% 3.5% Net Income / (Loss) Margin (0.6)% (2.1)% (1.5)% (0.9)% (1.0)% (2.6)% (1.9)% (1.3)% Effective Tax Rate 140.7% 21798.0% 521.0% 189.9% Weighted Average Shares Outstanding Basic 49,293 48,460 48,916 48,098 Diluted 49,293 48,460 48,916 48,098
TTEC HOLDINGS, INC. AND SUBSIDIARIES SEGMENT INFORMATION (In thousands) (unaudited) Three months ended Nine months ended September 30, September 30, 2026
2025
2026
2025
Revenue: TTEC Digital $122,117 $121,916 $328,014 $343,702 TTEC Engage 370,128 397,227 1,115,901 1,223,240 Total $492,245 $519,143 $1,443,915 $1,566,942 Income From Operations TTEC Digital $6,685 $4,859 $14,748 $22,132 TTEC Engage 16,608 7,470 38,049 33,262 Total $23,293 $12,329 $52,797 $55,394
TTEC HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands) (unaudited) September 30, December 31, 2026
2025
ASSETS Current assets: Cash and cash equivalents $91,090 $82,901 Accounts receivable, net 388,691 455,829 Prepaids and other current assets 99,487 124,006 Income and other tax receivables 12,426 10,615 Total current assets 591,694 673,351 Property and equipment, net 99,683 111,778 Operating lease assets 62,733 86,064 Goodwill 367,866 368,678 Other intangibles assets, net 110,179 133,688 Income and other tax receivables, long-term 11,068 8,595 Other assets 111,083 116,928 Total assets $1,354,306 $1,499,082 LIABILITIES AND EQUITY Current liabilities: Accounts payable $75,309 $72,637 Accrued employee compensation and benefits 110,594 155,400 Deferred revenue 65,243 58,828 Current operating lease liabilities 29,566 34,188 Other current liabilities 55,809 34,899 Total current liabilities 336,521 355,952 Long-term liabilities: Line of credit 830,000 905,000 Non-current operating lease liabilities 40,862 61,170 Other long-term liabilities 61,359 64,057 Total long-term liabilities 932,221 1,030,227 Equity: Common stock 493 486 Additional paid in capital 438,767 432,268 Treasury stock (584,900) (584,900) Accumulated other comprehensive income (loss) (113,667) (106,938) Retained earnings 326,130 354,151 Noncontrolling interest 18,741 17,836 Total equity 85,564 112,903 Total liabilities and equity $1,354,306 $1,499,082
TTEC HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (unaudited) Nine Months Ended Nine Months Ended September 30, September 30, 2026
2025
Cash flows from operating activities: Net (loss) income$(20,937) $(14,544) Adjustment to reconcile net (loss) income to net cash provided by operating activities : Depreciation and amortization 64,169 67,612 Amortization of contract acquisition costs 900 1,047 Amortization of debt issuance costs 2,511 1,587 Provision for credit losses 123 700 Loss on disposal of assets 408 904 Impairment losses 2,969 1,966 Loss on dissolution of subsidiary 102 – Deferred income taxes – (1,846) Excess tax benefit from equity-based awards 1,860 1,861 Equity-based compensation expense 7,128 10,378 Loss / (gain) on foreign currency derivatives 116 (331) Changes in assets and liabilities, net of acquisitions: Accounts receivable 64,980 32,893 Prepaids and other assets 18,349 (2,051) Operating lease assets 22,034 25,054 Other noncurrent assets (1,295) (1,837) Accrued employee comp & benefits (43,421) (8,224) Accounts payable and other current liabilities 15,341 21,579 Deferred revenue and customer advances 6,639 3,751 Operating lease liabilities (24,477) (26,807) Other noncurrent liabilities (1,611) 4,813 Net cash provided by operating activities 115,888 118,505 Cash flows from investing activities: Proceeds from sale of property, plant and equipment 1,500 4,476 Purchases of property, plant and equipment (28,115) (26,381) Net cash used in investing activities (26,615) (21,905) Cash flows from financing activities: Net proceeds from / (repayments of) line of credit (75,000) (92,500) Proceeds from other debt 3,665 – Payments on other debt (1,279) (1,770) Payments to noncontrolling interest (5,535) (6,396) Tax payments related to the issuance of restricted stock units (622) (1,201) Payments of debt issuance costs (3,699) (1,031) Net cash used in financing activities (82,470) (102,898) Effect of exchange rate changes on cash and cash equivalents and restricted cash 1,386 (5,185) Increase/(decrease) in cash, cash equivalents and restricted cash 8,189 (11,483) Cash, cash equivalents and restricted cash, beginning of period 82,901 84,991 Cash, cash equivalents and restricted cash, end of period$91,090 $73,508
TTEC HOLDINGS, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL INFORMATION(In thousands, except per share data)(unaudited) Three months ended Nine months ended September 30, September 30, 2026
2025
2026
2025
Revenue $ 492,245 $ 519,143 $ 1,443,915 $ 1,566,942 Reconciliation of Non-GAAP Income from Operations and EBITDA: Net Income from Operations $23,293 $12,329 $52,797 $55,394 Restructuring charges, net 1,269 1,771 5,083 4,883 Impairment losses 555 441 2,969 1,966 Property costs not related to operations – – – (46) Mexico VAT consulting fees – 106 12 926 Expenses related to non-binding offer – 3,426 659 10,445 Expenses related to alternative capital structure 2,481 – 3,030 – Equity-based compensation expenses 2,044 3,083 7,128 10,384 Amortization of purchased intangibles 7,662 7,727 23,026 23,215 Non-GAAP Income from Operations $ 37,304 $ 28,883 $ 94,704 $ 107,167 Non-GAAP Income from Operations Margin 7.6% 5.6% 6.6% 6.8% Depreciation and amortization 14,061 14,299 41,143 44,397 Loss on sale of subsidiary – – 401 – Gain on property sale – – (135) (629) Mexico VAT Recovery – (1,716) (34) (8,341) Foreign exchange loss / (gain), net (379) (1,959) (1,670) 1,818 Other Income (expense), net 487 3,848 2,324 7,141 Adjusted EBITDA $ 51,473 $ 43,355 $ 136,733 $ 151,553 Adjusted EBITDA Margin 10.5% 8.4% 9.5% 9.7% Reconciliation of Non-GAAP EPS: Net Income / (Loss) $ (2,752) $ (11,066) $ (20,937) $ (14,544) Add: Asset impairment and restructuring charges 1,824 2,212 8,052 6,849 Add: Equity-based compensation expenses 2,044 3,083 7,128 10,384 Add: Amortization of purchased intangibles 7,662 7,727 23,026 23,215 Add: Property costs not related to operations – – – (46) Add: Expenses related to non-binding offer – 3,426 659 10,445 Add: Expenses related to alternative capital structure 2,481 – 3,030 – Add: Gain on property sale – – (135) (629) Add: Foreign VAT (inclusive of interest) – (1,889) (376) (14,978) Add: Loss on sale of subsidiary – – 401 – Add: Foreign exchange loss / (gain), net (379) (1,959) (1,670) 1,818 Less: Changes in valuation allowance, return to provision adjustments and other, and tax effects of items separately disclosed above 70 4,324 591 7,525 Non-GAAP Net Income $ 10,950 $ 5,858 $ 19,769 $ 30,039 Diluted shares outstanding 49,293 48,460 48,916 48,098 Non-GAAP EPS $0.22 $0.12 $0.40 $0.62 Reconciliation of Free Cash Flow: Cash Flow From Operating Activities: Net (loss) / income $(2,752) $(11,066) $(20,937) $(14,544) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 21,723 22,026 64,169 67,612 Other 18,041 (6,756) 72,656 65,437 Net cash provided by operating activities 37,012 4,204 115,888 118,505 Less – Total Cash Capital Expenditures 9,075 13,794 28,115 26,381 Free Cash Flow $ 27,937 $ (9,590) $ 87,773 $ 92,124
Reconciliation of Non-GAAP Income from Operations and Adjusted EBITDA by Segment: TTEC Engage TTEC Digital TTEC Engage TTEC Digital Q3 26 Q3 25 Q3 26Q3 25 YTD 26 YTD 25 YTD 26YTD 25 Income from Operations $16,608 $7,470 $6,685 $4,859 $38,049 $33,262 $14,748 $22,132 Restructuring charges, net 948 1,163 321 608 3,120 3,342 1,964 1,540 Impairment losses 555 441 – – 2,968 1,728 – 239 Mexico VAT Consulting Fees – 106 – – 12 926 – – Property costs not related to operations – – – – – (46) – – Expenses related to non-binding offer – 2,107 – 1,319 357 7,332 302 3,113 Expenses related to alternative capital structure 1,159 – 1,322 – 1,568 – 1,462 – Equity-based compensation expenses 1,485 1,903 558 1,180 5,090 6,343 2,037 4,041 Amortization of purchased intangibles 4,013 4,070 3,650 3,657 12,078 12,219 10,949 10,996 Non-GAAP Income from Operations $24,768 $17,260 $12,536 $11,623 $63,242 $65,106 $31,462 $42,061 Depreciation and amortization 11,366 11,964 2,695 2,335 33,024 36,444 8,119 7,952 Mexico VAT Recovery – (1,716) – – (34) (8,341) – – Loss on sale of subsidiary – – – – – – 401 – Gain on Property Sale – – – – (135) (629) – – Foreign exchange loss / (gain), net (377) (1,959) (2) – (1,661) 1,610 (9) 209 Other Income (expense), net 484 3,848 3 – 2,314 7,347 10 (206) Adjusted EBITDA $36,241 $29,397 $15,232 $13,958 $96,750 $101,537 $39,983 $50,016
Source: GlobeNewswire