The following is a summary of the TTEC Holdings, Inc. (TTEC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• TTEC Holdings' Q1 2024 revenue was reported at $577 million, marking a decrease from prior periods.

• The company's adjusted EBITDA stood at $55 million and non-GAAP adjusted EPS was $0.27 on a non-GAAP basis.

• TTEC's Q1 2024 performance was consistent with expectations. Full-year guidance for 2024 remained unchanged at the consolidated and segment level.

Business Progress:

• TTEC reported progress in diversifying their strategy, focusing on attracting new clients, expanding their geographical footprint, and additional collaborations with 'hyperscalers' and other CX technology players.

• AI-enabled solutions were launched, and positive momentum was seen in their TTEC Digital division.

• The company plans to accelerate investment in their cloud infrastructure and expects capital expenditures to increase.

• TTEC embarks on cost optimization efforts, aiming to deliver double-digit EBITDA margins in 2025.

• The company is focused on improving its fixed to variable cost dynamics and operational efficiency and is committed to delivering quality customer experience while creating long-term shareholder value.

• AI is recognized as a key tool creating new opportunities in areas such as content moderation and data annotation, improving outcomes, and reducing attrition.

• Offshore servicing is viewed as additive and not cannibalizing the onshore work, particularly in regulated industries with onshore requirements.

More details: TTEC Holdings IR

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