TTEC (TTEC) Q3 2025 earnings summary

Executive summary

• Third quarter 2025 revenue was $519.1 million, down 1.9% year-over-year, with adjusted EBITDA of $43.4 million and a GAAP net loss of $11.1 million; net debt reduced by $119 million year-over-year.

• Investments in AI-enabled CX solutions, leadership, and global expansion continued, focusing on hybrid human-technology strategies and deepening partnerships.

• The company is undergoing significant transformation, expanding into new industries and clients, and reiterating its full-year 2025 outlook.

• A term extension of the credit facility was announced, extending maturity to November 2027.

Financial highlights

• Q3 2025 revenue was $519.1 million, adjusted EBITDA $43.4 million (8.4% margin), and GAAP income from operations $12.3 million (2.4% margin); net loss per share was $0.23, improved from $0.40 loss last year.

• Free cash flow improved to negative $9.6 million from negative $100.2 million year-over-year; cash flow from operations was $4.2 million.

• Net debt at quarter-end was $812.5 million, down $119 million year-over-year; net leverage ratio improved to 3.46x.

• Capital expenditures were $13.8 million in Q3 (2.7% of revenue), up from $8.8 million.

Outlook and guidance

• Full-year 2025 revenue guidance is $2,064M–$2,114M, with adjusted EBITDA expected at $215M–$235M (10.4%–11.1% margin); non-GAAP EPS guidance is $0.95–$1.20.

• Engage segment revenue is tracking to the high end of guidance, with profitability at the lower end due to FX headwinds; Digital segment guidance maintained at the lower end.

• Management expects sufficient liquidity for the next 12 months and plans to seek alternative credit arrangements starting in 2026.