TTEC Announces Third Quarter 2026 Financial Results and Reaffirms Outlook for Full Year 2026

Quarterly operating margins improved in both segments despite lower Engage revenue.

Rhea-AI Summary

TTEC Holdings (NASDAQ:TTEC) reported third-quarter 2026 revenue of $492.2 million, down from a year earlier, and reaffirmed its full-year outlook. Revenue fell 5.2%, while GAAP operating income rose to $23.3 million from $12.3 million and operating margin increased to 4.7% from 2.4%. GAAP diluted net loss per share narrowed to $0.06 from $0.23; non-GAAP earnings per share rose to $0.22 from $0.12.

Digital revenue increased 0.2% to $122.1 million, while Engage revenue declined 6.8% to $370.1 million. Quarterly operating cash flow reached $37.0 million, versus $4.2 million. Net debt was $743.6 million at September 30, compared with $812.5 million a year earlier. TTEC extended its credit facility to November 2028. Its reaffirmed 2026 outlook calls for revenue of $1,940 million–$1,990 million and non-GAAP earnings per share of $0.79–$0.99.

28 points · 0 major

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0 major · 14 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThird-quarter GAAP operating income increased to $23.3 million from $12.3 million; margin rose to 4.7% from 2.4%.
• Moderate pointThird-quarter GAAP diluted net loss per share narrowed to $0.06 from $0.23 a year earlier.
• Moderate pointThird-quarter non-GAAP earnings per share increased to $0.22 from $0.12 a year earlier.
• Moderate pointThird-quarter non-GAAP operating income rose to $37.3 million from $28.9 million; margin reached 7.6% versus 5.6%.
• Moderate pointThird-quarter adjusted EBITDA increased to $51.5 million from $43.4 million; margin rose to 10.5% from 8.4%.
• Moderate pointThird-quarter operating cash flow increased to $37.0 million from $4.2 million a year earlier.
• Moderate pointThird-quarter free cash flow reached positive $27.9 million, versus negative $9.6 million a year earlier.
• Moderate pointSeptember 30 net debt declined to $743.6 million from $812.5 million a year earlier.
• Moderate pointCredit facility maturity extended to November 2028 on November 9, 2026.

19 minor points

• Minor pointThird-quarter capital expenditures declined to $9.1 million from $13.8 million a year earlier.
• Minor pointDigital third-quarter revenue increased 0.2% to $122.1 million from $121.9 million a year earlier.
• Minor pointDigital third-quarter operating income rose to $6.7 million from $4.9 million; margin increased to 5.5% from 4.0%.
• Minor pointDigital third-quarter non-GAAP operating income rose to $12.5 million from $11.6 million; margin reached 10.3% versus 9.5%.
• Minor pointEngage third-quarter operating income rose to $16.6 million from $7.5 million; margin increased to 4.5% from 1.9%.
• Minor pointEngage third-quarter non-GAAP operating income rose to $24.8 million from $17.3 million; margin reached 6.7% versus 4.3%.
• Minor pointForeign exchange added $1.5 million to third-quarter consolidated non-GAAP operating income.
• Minor point. Forward-looking: it has not happened yet and may not happen.TTEC expects both segments’ fourth-quarter margins to improve sequentially and year over year.
• Minor point. Forward-looking: it has not happened yet and may not happen.TTEC reaffirmed full-year 2026 revenue guidance of $1,940 million–$1,990 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.TTEC reaffirmed 2026 adjusted EBITDA guidance of $205 million–$225 million, with margins of 10.6%–11.3%.
• Minor point. Forward-looking: it has not happened yet and may not happen.TTEC reaffirmed 2026 non-GAAP operating income guidance of $145 million–$165 million, with margins of 7.5%–8.3%.
• Minor point. Forward-looking: it has not happened yet and may not happen.TTEC reaffirmed 2026 non-GAAP earnings per share guidance of $0.79–$0.99.
• Minor point. Forward-looking: it has not happened yet and may not happen.Engage 2026 revenue guidance is $1,520 million–$1,550 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.Engage 2026 adjusted EBITDA guidance is $149 million–$161 million, with margins of 9.8%–10.4%.
• Minor point. Forward-looking: it has not happened yet and may not happen.Engage 2026 non-GAAP operating income guidance is $100 million–$112 million, with margins of 6.6%–7.2%.
• Minor point. Forward-looking: it has not happened yet and may not happen.Digital 2026 revenue guidance is $420 million–$440 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.Digital 2026 adjusted EBITDA guidance is $56 million–$64 million, with margins of 13.3%–14.6%.
• Minor point. Forward-looking: it has not happened yet and may not happen.Digital 2026 non-GAAP operating income guidance is $45 million–$53 million, with margins of 10.6%–12.0%.
• Minor pointNine-month Engage operating income increased to $38.049 million from $33.262 million a year earlier.

Negative

• Moderate pointThird-quarter revenue declined 5.2% to $492.2 million from $519.1 million a year earlier.
• Moderate pointSeptember 30 debt totaled $834.7 million, against cash and cash equivalents of $91.1 million.
• Moderate pointNine-month operating income declined to $52.797 million from $55.394 million a year earlier.
• Moderate pointNine-month loss attributable to TTEC stockholders widened to $28.021 million from $19.974 million a year earlier.
• Moderate pointThird-quarter net other expense increased to $16.538 million from $12.278 million a year earlier.

9 minor points

• Minor pointEngage third-quarter revenue declined 6.8% to $370.1 million from $397.2 million a year earlier.
• Minor pointForeign exchange reduced third-quarter consolidated and Engage revenue by $2.1 million.
• Minor pointNine-month revenue declined to $1,443.915 million from $1,566.942 million a year earlier.
• Minor pointNine-month Digital revenue declined to $328.014 million from $343.702 million a year earlier.
• Minor pointNine-month Engage revenue declined to $1,115.901 million from $1,223.240 million a year earlier.
• Minor pointNine-month Digital operating income declined to $14.748 million from $22.132 million a year earlier.
• Minor pointThird-quarter impairment losses increased to $555,000 from $441,000 a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.TTEC projects 2026 net interest expense of $70 million–$72 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.TTEC projects a 2026 non-GAAP adjusted tax rate of 48%–50%.

News Explained

TTEC reaffirmed its full-year outlook, but says it cannot reconcile several non-GAAP targets to GAAP without unreasonable effort because key adjustments depend on future events or cannot be reliably predicted; those unavailable items could significantly affect reported GAAP results.

Key Figures

GAAP revenue: $492.2 million, down 5.2% from $519.1 million Non-GAAP Adjusted EBITDA: $51.5 million, up from $43.4 million GAAP diluted net loss per share: $0.06 loss per share versus $0.23 +5 more

GAAP revenue

$492.2 million, down 5.2% from $519.1 million

Third quarter 2026 versus prior year

Non-GAAP Adjusted EBITDA

$51.5 million, up from $43.4 million

Third quarter 2026 versus prior year

GAAP diluted net loss per share

$0.06 loss per share versus $0.23

Third quarter 2026 versus prior year

Non-GAAP diluted earnings per share

$0.22 versus $0.12

Third quarter 2026 versus prior year

Free cash flow

$27.9 million, compared with negative $9.6 million

Third quarter 2026 versus third quarter 2025

Net debt

$743.6 million, compared with $812.5 million

As of September 30, 2026, versus the same period in 2025

Full-year revenue guidance midpoint

$1,965 million

Full-year 2026 outlook reaffirmed

Full-year Non-GAAP adjusted EBITDA midpoint

$215 million

Full-year 2026 outlook reaffirmed

Previous Earnings Reports

2 past events · Latest: Aug 10

Same Type 2 events

1. Aug 10

   Second-quarter earnings

   24h Move

   -25.8%

   Revenue declined, diluted loss per share widened, and management provided full-year guidance.

2. May 07

   First-quarter earnings

   24h Move

   -11.4%

   Revenue declined and the company reported a GAAP diluted net loss per share.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

gaap, non-gaap, ebitda, net debt

4 terms

gaap financial

"Third quarter 2026 GAAP revenue was $492.2 million"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

non-gaap financial

"Non-GAAP income from operations, excluding restructuring and impairment charges"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

ebitda financial

"Third quarter 2026 Non-GAAP Adjusted EBITDA was $51.5 million"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

net debt financial

"resulting in a net debt position of $743.6 million"

Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.

View in glossary

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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-Point
Revenue	$1,940M — $1,990M		$1,965M
Non-GAAP adjusted EBITDA	$205M — $225M		$215M
Non-GAAP adjusted EBITDA margins	10.6% — 11.3%		10.9%
Non-GAAP operating income	$145M — $165M		$155M
Non-GAAP operating income margins	7.5% — 8.3%		7.9%
Interest expense, net	($70M) — ($72M)		($71M)
Non-GAAP adjusted tax rate	48% — 50%		49%
Diluted share count	48.7M — 49.3M		49.0M
Non-GAAP earnings per a share	$0.79 — $0.99		$0.89
Engage Full Year 2026 Outlook
	Full Year 2026 Guidance		Full Year 2026 Mid-Point
Revenue	$1,520M — $1,550M		$1,535M
Non-GAAP adjusted EBITDA	$149M — $161M		$155M
Non-GAAP adjusted EBITDA margins	9.8% — 10.4%		10.1%
Non-GAAP operating income	$100M — $112M		$106M
Non-GAAP operating income margins	6.6% — 7.2%		6.9%
Digital Full Year 2026 Outlook
	Full Year 2026 Guidance		Full Year 2026 Mid-Point
Revenue	$420M — $440M		$430M
Non-GAAP adjusted EBITDA	$56M — $64M		$60M
Non-GAAP adjusted EBITDA margins	13.3% — 14.6%		14.0%
Non-GAAP operating income	$45M — $53M		$49M
Non-GAAP operating income margins	10.6% — 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 SUBSIDIARIES
RECONCILIATION 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 26			Q3 25			YTD 26				YTD 25				YTD 26			YTD 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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were TTEC’s third-quarter 2026 earnings results?

TTEC reported revenue of $492.2 million and a GAAP diluted net loss per share of $0.06. Revenue declined 5.2% year over year, while the loss per share narrowed from $0.23. Non-GAAP earnings per share increased to $0.22 from $0.12.

What is TTEC’s reaffirmed full-year 2026 outlook?

TTEC expects 2026 revenue of $1,940 million–$1,990 million and non-GAAP earnings per share of $0.79–$0.99. Its reaffirmed outlook also includes adjusted EBITDA of $205 million–$225 million and non-GAAP operating income of $145 million–$165 million.

Why has TTEC not reconciled its 2026 non-GAAP guidance to GAAP?

TTEC says certain adjustments depend on future events outside its control or cannot be reliably predicted, preventing reconciliation without unreasonable effort. These include restructuring and impairment charges, equity-based compensation and other adjustments. The unavailable items could materially affect 2026 GAAP results.