TTEC Holdings Inc 2025 Annual Report

YesþNo◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of“large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standards Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the As of May 1, 2025, there were47,833,188shares of the registrant’s common stock outstanding. PageN PARTI. FINANCIAL INFORMATION Item 1.Financial StatementsConsolidated Balance Sheets as of March 31, 2025 and December31,2024 (unaudited)Consolidated Statements of Comprehensive Income (Loss) for the threemonths ended March 31, 2025 and 2024 (unaudited)Consolidated Statements of Stockholders’ Equity as of and for thethree months ended March 31, 2025 and 2024(unaudited)Consolidated Statements of Cash Flows for the three months endedMarch 31, 2025 and 2024(unaudited)Notes to the Consolidated Financial Statements (unaudited)Item 2.Management’s Discussion and Analysis of Financial Condition and Resultsof OperationsItem 3.Quantitative and Qualitative Disclosures about Market RiskItem 4.Controls and ProceduresPARTII. OTHER INFORMATIONItem 1.Legal ProceedingsItem1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 5.Other InformationItem 6.ExhibitsSIGNATURES TTEC HOLDINGS,INC. AND SUBSIDIARIESConsolidated Statements of Comprehensive Income (Loss)(Amounts in thousands, except per share amounts) TTEC HOLDINGS,INC. AND SUBSIDIARIESConsolidated Statements of Cash Flows(Amounts in thousands) TTEC HOLDINGS,INC. AND SUBSIDIARIESNotes to Consolidated Financial Statements (1)OVERVIEW AND BASIS OF PRESENTATION Summary of Business Founded in1982, TTEC Holdings, Inc. (“TTEC”, “the Company”; pronounced “T-TEC”) is aglobal customer experience (“CX”) outsourcing partner for marquee and disruptive brandsand public sector clients. The Company designs, builds, and operates technology-enabledcustomer experiences across live interaction channels and data-driven digital solutions tohelp clients improve customer satisfaction and loyalty, increase customer revenue andprofitability,and optimize overall cost to serve. As of March 31,2025, TTEC served The Company operates and reports its financial results of operation throughtwobusiness •TTEC Digitalis one of the largest CX technology and service providers and isfocused on the intersection of Contact Center as a Service (“CCaaS”), CustomerRelationship Management (“CRM”), and Artificial Intelligence (AI) and Analytics. Aprofessionalservices organization comprised of software engineers,systemsarchitects, data scientists and CX strategists, this segment creates and implementsstrategicCX transformation roadmaps;sells,operates,and provides managed •TTEC Engageprovidesthe digitally enabled CX operational and managed servicesto support large, complex enterprise clients’ end-to-end customer interactions atscale across the world. Tailored to meet industry-specific business needs, thissegment delivers data-driven omnichannel customer care, customer acquisition,growth,and retention services,tech support,fraud mitigation and back-office TTEC pursues its CX market leadership through strategic collaboration across TTEC Digitaland TTEC Engage. Together, TTEC’s ability to deliver comprehensive and transformationalcustomerexperience solutions to its clients is a marketplace differentiation,including During the first quarter of 2025, the TTEC Digital and TTEC Engage global operatingplatformdelivered onshore,nearshore and offshore services in 22 countries on sixcontinents – the United States, Australia, Belgium, Brazil, Bulgaria, Canada, Colombia,Costa Rica, Egypt, Germany, Greece, Honduras, India, Ireland, Mexico, the Netherlands, Basis of Presentation The Consolidated Financial Statements are comprised of the accounts of TTEC, its whollyowned subsidiaries and its55% equity owned subsidiary Percepta, LLC. All intercompany Table of Contents TTEC HOLDINGS,INC. AND SUBSIDIARIESNotes to Consolidated Financial Statements The unaudited Consolidated Financial Statements do not include all of the disclosuresrequired by accounting principles generally accepted in the U.S. (“GAAP”), pursuant to therulesand regulations of the Securities and Exchange Commission (“SEC”). The unauditedConsolidatedFinancial Statements reflect all adjustments which,in the opinion of These unaudited Consolidated Financial Statements should be read in conjunction with theCompany’s audited Consolidat