TTEC Holdings Posts Lower Revenue, Operating Profit, and Deeper Losses on Both Quarter and Year-to-Date Windows

Bottom line

TTEC Holdings, Inc. filed its interim financial statements under 10-Q for period-ended-2026-06-30, indexed under accession 0001104659-26-093402 with CIK 0001013880 and traded as TTEC. The headline picture for this Event is uniformly negative: revenue, operating income, net income attributable to the parent, and diluted earnings per share all registered worse values in the latest periods than in the year-ago comparisons.

For the three-month reporting period the three months ended June 30, 2026, revenue contracted relative to the prior-year quarter the three months ended June 30, 2025; the same directional decrease also applies to the six-month year-to-date reading the six months ended June 30, 2026 versus the six months ended June 30, 2025. Despite the lower top line, the income-statement lines below revenue still showed positive operating income in both current windows — operating income remained a profit in the latest quarter and in the year-to-date period, but each reading came in lower than the corresponding prior-year operating-income profit. The profit-to-profit transition was accompanied by a decrease in the year-over-year comparison on both the quarter and the half-year bases.

Below operating income, the picture turned negative on a bottom-line basis. Net Income (Loss) Attributable to Parent was a loss in the latest quarter and also a loss in the latest year-to-date period; in each case the loss was deeper than the prior-year loss, producing an authorized loss-to-loss transition with a decrease versus the year-ago period on both the quarterly and the half-year comparisons. Diluted Earnings Per Share carried the same pattern: a loss per share in the latest quarter, deeper than the prior-year quarter loss, and a loss per share in the year-to-date period, deeper than the prior-year year-to-date loss.

The supporting note referenced within the unaudited Consolidated Financial Statements, Note 16, speaks to circumstances as of the issuance of the unaudited statements; Note 9 addresses stockholders' equity and preferred stock matters. Management's Overview and Basis of Presentation note describes TTEC as a global customer-experience technology and services outsourcing partner operating through two business segments — TTEC Digital and TTEC Engage — and indicates that the operating platform spanned the second quarter across multiple countries on six continents. The same narrative flags that the unaudited statements omit some disclosures required under GAAP and cautions that operating results for the periods shown are not necessarily indicative of full-year results.

No peer, industry, or segment-level comparators are contained in the filing evidence, so any cross-company read across The filing evidence contains no peer or industry comparison. is not available here. Likewise, The filing evidence does not attribute this change to any single cause. and the section therefore does not narrate a driver story.

For readers comparing like filings across companies, the cadence here — synchronized revenue decline on both windows together with profit-to-profit but lower operating income and loss-to-loss but deeper bottom-line results — parallels the structure seen in other interim filings such as RCI HOSPITALITY HOLDINGS, INC. Posts Higher Revenue on Both Windows in period-ended-2026-06-30 10-Q, With Quarterly Bottom-Line Up and Year-to-Date Bottom-Line Softer, though the direction of the bottom-line moves in this TTEC release is the opposite of that comparator.

Financial performance

- The interim filing under 10-Q period-ended-2026-06-30 (accession 0001104659-26-093402) for TTEC Holdings, Inc. (TTEC, CIK 0001013880) covers the three-month reporting period and the six-month year-to-date period, with prior-year comparatives for each window drawn from the same calendar stage of the prior year. The unaudited Consolidated Financial Statements are prepared in conformity with U.S. GAAP, and management states that the figures reflect all adjustments considered necessary for a fair presentation, while cautioning that interim operating results are not necessarily indicative of the full-year outcome Item 1.

- Revenue from Contract with Customer, Excluding Assessed Tax for the three-month reporting period was $455,495,000, compared with $513,571,000 for the prior-year quarter, a decrease on a year-over-year basis. For the six-month year-to-date period, revenue was $951,670,000, versus $1,047,799,000 for the prior-year half year, also a decrease on a year-over-year basis. The filing does not separate price, volume, mix, or client-count drivers within these topline lines, so any attribution between customer additions, program changes, and pricing is not disclosed The filing evidence does not attribute this change to any single cause..

- Operating Income (Loss) for the three-month reporting period was $11,009,000, versus $18,876,000 for the prior-year quarter, a decrease on a year-over-year basis, with both periods remaining in profit. Operating Income (Loss) for the six-month year-to-date period was $29,504,000, compared with $43,065,000 for the prior-year half year, a decrease on a year-over-year basis, also with both periods in profit. The commentary attributes cost movements to estimates and assumptions but does not isolate the gap between the operating-income lines by line item, so the underlying mix of labor, technology, delivery, and overhead change is not itemized The filing evidence does not attribute this change to any single cause..

- Net Income (Loss) Attributable to Parent for the three-month reporting period was -$15,378,000, versus -$7,987,000 for the prior-year quarter, a decrease on a year-over-year basis; both periods were losses, transitioning from a loss to a loss. For the six-month year-to-date period, net income was -$22,987,000, versus -$6,603,000 for the prior-year half year, a decrease on a year-over-year basis; both periods were losses, transitioning from a loss to a loss. Earnings Per Share, Diluted for the quarter was -$0.31 per diluted share versus -$0.17 per diluted share for the prior-year quarter, a decrease on a year-over-year basis with both periods in loss, transitioning from a loss to a loss. For the half year, diluted EPS was -$0.47 per diluted share versus -$0.14 per diluted share for the prior-year half year, also a decrease on a year-over-year basis with both periods in loss, transitioning from a loss to a loss.

- Management discusses the segment's digital-first delivery model spanning recruitment through quality assurance, and notes the platform operated across multiple countries on six continents during the quarter, but no quantified bridge between this footprint and the year-over-year changes above is provided The filing evidence does not attribute this change to any single cause..

- Forward-looking guidance is not issued in this filing; management does not provide a quantitative outlook range for revenue, operating income, or EPS, and the cited note Note 16 covers post-period events rather than forward targets. Peer or industry benchmarks against this filing are not presented, so relative positioning cannot be derived from the filing alone The filing evidence contains no peer or industry comparison.. For a comparable interim read on a different issuer, the REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in period-ended-2026-06-30 Filing insight offers a useful side-by-side reference on how peer interim windows are framed.

- Accounting context: the interim statements omit certain disclosures required by annual GAAP statements and rely on management estimates spanning derivatives, hedging, income taxes including the deferred-tax valuation allowance, litigation and restructuring reserves, the allowance for credit losses, contingent consideration, and the valuation of goodwill, long-lived, and intangible assets, with actual results potentially differing materially. Subsequent to the balance sheet date, the company entered into waiver and amendment arrangements with its lenders, including a Tenth Amendment and an Eleventh Amendment to its Amended and Restated Credit Agreement, modifying the net leverage ratio and interest coverage ratio covenants; these are further described in Note 9 and Note 16.

Operating drivers and segments

TTEC Holdings, Inc. reports its results through two reportable segments, TTEC Digital and TTEC Engage, organized by nature of product and independently managed. The segment descriptions in the filing depict TTEC Digital as a CX technology and services provider focused on CCaaS, CRM, and AI and Analytics, with service lines spanning professional services, managed services, CX consulting, CX data and analytics, and IP and software, sold through a three-pronged go-to-market strategy of expanding existing client relationships, partner channels, and general market development. TTEC Engage is positioned as the AI-enabled CX operational and managed services arm for large enterprise clients, with a delivery model that the filing describes as covering associate recruitment through quality assurance and serving healthcare, financial services, public sector, communications, technology, media, entertainment, travel and hospitality, automotive, and retail verticals. The Chief Operating Decision Maker evaluates each segment using income from operations, which is also the basis for budgeting, forecasting, and capital and personnel allocation. Corporate operating expenses are allocated to each segment under the company's standard policies, and segment financial data is presented in the notes in thousands. At the consolidated level, the period's reported figures show revenue of $455,495,000 for the three-month reporting period the three months ended June 30, 2026 versus $513,571,000 for the three months ended June 30, 2025, with operating income of $11,009,000 against $18,876,000. On the year-to-date basis, revenue moved from $1,047,799,000 in the six months ended June 30, 2025 to $951,670,000 in the six months ended June 30, 2026, while operating income shifted from $43,065,000 to $29,504,000. Both periods remain profitable on an operating-income basis, although the authorized direction is downward on each comparison.

Management frames the business as an integrated CX technology and services platform, emphasizing AI-enabled delivery across TTEC Digital and TTEC Engage and the breadth of the global operating footprint during the second quarter. The narrative highlights the segment structure, the CODM's use of income from operations, and a recently issued FASB update on disaggregation of income statement expenses that the filing flags for future reporting rather than current effect. The filing evidence does not attribute this change to any single cause.

The filing evidence contains no peer or industry comparison. Readers who want a benchmark against another interim filing can compare the consolidated direction here with REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing to see how the authorized directions differ.

Cash flow and capital

The balance sheet at the balance sheet date of June 30, 2026 shows Accounts Payable, Current at $66,517,000 USD and Accounts Receivable, after Allowance for Credit Loss, Current at $396,188,000 USD, alongside Cash and Cash Equivalents, at Carrying Value of $93,869,000 USD. Working capital composition is therefore visible from the disclosed line items, with cash, receivables, and payables all on the balance sheet at the reporting date.

For the six-month year-to-date period the six months ended June 30, 2026, Net Cash Provided by (Used in) Operating Activities was $78,876,000 USD, against a prior-year comparative of $114,301,000 USD for the six months ended June 30, 2025. The authorized direction is a decrease, with the current period still positive and the prior period also positive, so the underlying trend is one of lower operating cash generation year over year rather than a swing from inflow to outflow.

Investing activities moved from a smaller negative figure in the prior year to a larger negative figure in the current year. Net Cash Provided by (Used in) Investing Activities was -$12,411,000 USD for the six months ended June 30, 2025 and -$17,580,000 USD for the six months ended June 30, 2026; the authorized direction is decrease (i.e., a larger outflow than the prior period). Capital expenditures, captured as Payments to Acquire Property, Plant, and Equipment, were $12,587,000 USD for the six months ended June 30, 2025 and $19,040,000 USD for the six months ended June 30, 2026, with the authorized direction an increase, meaning the current period absorbed more cash into PP&E than the prior period.

Financing activities were negative in both periods: Net Cash Provided by (Used in) Financing Activities was -$98,927,000 USD for the six months ended June 30, 2025 and -$51,431,000 USD for the six months ended June 30, 2026. The authorized direction is increase, which in this context means the current-period financing outflow is smaller (less negative) than the prior-period outflow rather than a swing into inflows.

Management commentary in the filing focuses on covenant flexibility rather than free cash flow framing. As discussed in Note 9, the Amended and Restated Credit Agreement was modified through a Tenth Amendment in November of an unspecified recent year, extending the maturity and adjusting size, pricing, and covenants. In July of the current fiscal year the Company obtained a covenant waiver for the net leverage ratio for the period ended June and then entered into an Eleventh Amendment to the Credit Agreement, also detailed in Note 9 and Note 16. The Eleventh Amendment revised covenant levels on a going-forward basis, including a higher maximum net leverage ratio and a lower minimum interest coverage ratio, stepping down toward a tighter level by a later quarter. Management states that, after giving effect to the waiver and the Eleventh Amendment, the Company believes it has sufficient cash on hand, positive working capital, and availability under the Credit Facility to meet operating requirements, fund capital expenditures, and remain in compliance for a multi-month horizon from issuance, with the option to reduce discretionary spending if needed. The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison.

Peer and historical context

The authorized directions cluster on the revenue and earnings lines, with each one pointing lower on both the quarter and the half-year windows versus the prior-year comparative. Reading only what the machine authorizes, the picture is a synchronized easing on revenue, on operating profit, on net income to the parent, and on the diluted loss per share, with the half-year operating cash flow also running below its prior-year comparative even though the cash flow line itself remains a positive contribution. Capital spending is the one authorized direction that points the other way, with payments to acquire property, plant, and equipment higher than the prior-year six-month window. The net cash used in financing activities on the six-month window is also authorized as a larger outflow, and the net cash used in investing activities is authorized as a smaller outflow, meaning the cash flow profile on the year-to-date window is mixed: weaker operating conversion, more balance-sheet return to financing sources, lighter investing outflows other than the higher capital expenditure line.

- Operating cash flow on the six-month window is authorized as a decrease, yet the current and prior-year values are both positive in the catalog, so the line direction is softer without flipping from generation to use. - Operating income on both windows is authorized as a decrease, yet the transition is profit to profit on the quarter and on the half year, so the segment reading is one of margin compression on top of an earnings business rather than a swing into a loss. - Net income to the parent and diluted EPS on both windows are authorized as a decrease, with the transition on both set to loss to loss, so the bottom line is widening inside an already-negative footing rather than crossing into a loss from profit. - The filing evidence contains no peer or industry comparison, so any cross-issuer read against contact-center outsourcing peers such as the companies tracked in REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing would have to come from outside this accession and is unsupported here.

The contrast that bears repeating is between the operating P&L lines, which softened directionally without flipping sign, and the cash flow lines tied to investing and financing activity, where the half-year window shows more outflow on capital spending and a larger net use in financing while operating cash itself stayed positive at a lower level than the prior-year comparative. The filing does not name a sector peer or a basket for 0001013880, so any direct cross-issuer revenue, margin, or cash conversion read for the three months ended June 30, 2026 and the six months ended June 30, 2026 would have to come from outside this accession and the filing evidence does not provide it. Any read on which segments, geographies, or client wins drove the year-over-year step is not stated in the cited text either, so attributing the directional movement to a specific cause is left to The filing evidence does not attribute this change to any single cause. on this section's axis.

Scenario analysis

The base case assumes the trends visible in this 10-Q for period-ended-2026-06-30 continue along their current trajectory, neither improving nor deteriorating materially. Revenue from Contract with Customer, Excluding Assessed Tax was $455,495,000 USD for the three months ended June 30, 2026 and $951,670,000 USD for the six months ended June 30, 2026, both lower than the prior-year comparative figures of $513,571,000 USD and $1,047,799,000 USD respectively, consistent with the authorized direction decrease on both windows. Net Income (Loss) Attributable to Parent was -$15,378,000 USD for the three months ended June 30, 2026 and -$22,987,000 USD for the six months ended June 30, 2026, both representing losses deeper than the prior-year losses of -$7,987,000 USD and -$6,603,000 USD, consistent with the authorized loss-to-loss transition. The filing evidence does not attribute this change to any single cause.

The upside path requires revenue stabilization and segment recovery in TTEC Digital and TTEC Engage as described in the cited note, with Customer Experience technology modernization and AI-enabled services generating incremental contract wins. Under this case, Revenue from Contract with Customer, Excluding Assessed Tax trends back toward the prior-year comparative level of $513,571,000 USD for the three months ended June 30, 2025 and $1,047,799,000 USD for the six months ended June 30, 2025, supported by the strategic partnerships cited in the segment disclosure. Net Income (Loss) Attributable to Parent narrows the gap from the current -$15,378,000 USD and -$22,987,000 USD losses toward the prior-year -$7,987,000 USD and -$6,603,000 USD levels, though remaining in loss territory. The filing evidence does not attribute this change to any single cause.

The downside path assumes further deterioration of the current trajectory, with revenue contraction deepening beyond the reported figures and segment performance weakening across TTEC Digital's CX Technology Services and TTEC Engage's CX Business Process Outsourcing offerings. Under this case, Revenue from Contract with Customer, Excluding Assessed Tax falls further below the current $455,495,000 USD and $951,670,000 USD levels, and Net Income (Loss) Attributable to Parent widens beyond the current -$15,378,000 USD and -$22,987,000 USD losses compared with the prior-year -$7,987,000 USD and -$6,603,000 USD comparatives. The Company notes pending ASU evaluations regarding intangibles and internal-use software accounting, which are not expected to materially affect the financial position per management's assessment in the cited note, though adoption timing remains under evaluation. The filing evidence does not attribute this change to any single cause.

Counter-evidence and unknowns include the absence of forward-looking guidance quantification in the filing and the lack of any peer or industry comparison data. The filing evidence contains no peer or industry comparison. Readers comparing interim filings across the sector may find the REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing insight useful for contrast, though the underlying drivers differ.

Risks and what to watch

- Revenue declined year over year on both the three-month reporting period and the six-month year-to-date period, with $455,495,000 sitting below $513,571,000 and $951,670,000 sitting below $1,047,799,000. A repeat of that top-line drift in the next interim window would extend the synchronized softening already visible across both windows. - Net Income (Loss) Attributable to Parent worsened in tandem, with -$15,378,000 deeper in loss territory than -$7,987,000 and -$22,987,000 deeper in loss territory than -$6,603,000.

Continued widening of the bottom-line loss is the clearest watch-item for the next filing, and it remains a loss-to-loss transition rather than a swing into profit. - Operating Income (Loss) moved in the opposite direction to net income — current profit is lower than prior-year profit for both the three-month and six-month periods — leaving a wedge between the operating line and the bottom line that the next disclosure will need to clarify. The filing evidence does not attribute this change to any single cause.

- Operating cash flow was positive in the six-month year-to-date period but lower than the prior-year comparative, while investing cash outflow shrank and financing cash outflow widened. The direction mix is the relevant signal: whether operating cash flow can hold positive against continued outflows on the financing side is the metric to monitor. - Capital spending, captured by Payments to Acquire Property, Plant, and Equipment, was higher in the current six-month period than in the prior-year comparative.

Sustained elevated capex while revenue contracts is a margin-quality pressure worth tracking. - Counter-evidence on the demand side is thin in the filing itself. Management commentary frames TTEC Digital as a cloud-modernization and AI-enabled CX partner and TTEC Engage as a vertical-specific BPO provider, but the quoted segment narrative does not quantify pipeline, backlog, or win rates, so the reader cannot independently corroborate the topline softness against order-book strength.

- Counter-evidence on the cost side is also limited. The filing does not break out restructuring, impairment, or one-time charges tied to the loss; without that detail the gap between operating profit and net loss remains unexplained at the line-item level. The filing evidence does not attribute this change to any single cause.

- Counterpoint from peer behavior is absent. The filing evidence does not include any peer or industry comparison, so the deterioration at TTEC Holdings, Inc. cannot be benchmarked against customer-experience outsourcers or BPO peers; readers looking for context should treat this quarter as a single-issuer data point.

- Risks to the next period include continued revenue compression at the magnitude implied by the year-over-year decline, further erosion of net income, and any reversal in operating cash flow direction. Investors who want to triangulate tone with a peer that posted higher revenue and net income in the same window can read REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in period-ended-2026-06-30 Filing for a contrast case, though it sits in a different industry.

- Metrics to watch next period: the absolute level and year-over-year direction of revenue, the trajectory of Net Income (Loss) Attributable to Parent, the bridge between Operating Income (Loss) and net income, the sign and magnitude of operating cash flow, and the capex run rate. Disclosure on any non-recurring items, restructuring activity, and segment-level revenue mix under the two reported segments — TTEC Digital and TTEC Engage — would materially improve the read. - Unknowns: contract attrition rates, FX impact on reported revenue, the contribution of AI-related services to segment growth, and any post-period events disclosed under Item 1A or Item 1 are not quantified in the filing evidence and should be revisited when the next interim filing under 10-Q for period-ended-2026-06-30 is published, along with controls and procedures commentary under Item 4, market-risk disclosure under Item 3, other information under Item 5 and exhibit detail under Item 6, and any subsequent-events reference captured in the cited note Note 16 or the stockholders'-equity note Note 9.