Page 1

ttec NASDAQ : TTEC TTEC Announces Record Third Quarter 2021 Financial Results November 9 , 2021 Third Quarter 2021 Revenue Increased 15.0 Percent to $ 566.7 Million Operating Income was 26.0 Million or 4.6 Percent of Revenue ( Non - GAAP $ 59.4 Million or 10.5 Percent of Revenue ) Net Income was $ 14.4 Million ( $ 47.7 Million Non - GAAP ) Adjusted EBITDA was $ 78.7 Million or 13.9 Percent of Revenue Fully Diluted EPS was $ 0.30 ( $ 1.01 Non - GAAP ) Bookings of $ 171 million DENVER , Nov. 9 , 2021 / PRNewswire / -- TTEC Holdings , Inc. ( NASDAQ : TTEC ) , one of the largest , global CX ( customer experience ) technology and services innovators for end - to - end digital CX solutions , announced today financial results for the third quarter ended September 30 , 2021 . " We delivered strong results this quarter and continue to gain momentum in the market . Our robust sales pipeline heading into the fourth quarter , combined with our strong bookings momentum , positions us for continued long - term profitable growth as our clients leverage the full depth and breadth of our technology enabled solutions and services , " commented Ken Tuchman , chairman and chief executive officer of TTEC . " Leading brands are looking for a comprehensive solution - a purpose - built , technology - enabled service provider who can solve their end - to - end CX challenges and deliver measurable value - based outcomes . The fastest growing digital brands and the elite Fortune 500 leaders alike are choosing TTEC to successfully compete and win in the customer - centric economy , " continued Tuchman . THIRD QUARTER 2021 FINANCIAL HIGHLIGHTS Revenue • Third quarter 2021 GAAP revenue increased 15.0 percent to $ 566.7 million compared to $ 493.0 million in the prior year period . • Foreign exchange had a $ 3.1 million positive impact on revenue in the third quarter 2021 . Income from Operations • Third quarter 2021 GAAP income from operations was $ 26.0 million , or 4.6 percent of revenue , compared to $ 53.4 million , or 10.8 percent of revenue in the prior year period . • Non - GAAP income from operations , excluding restructuring and impairment charges , equity - based compensation expenses , amortization of purchased intangibles , cybersecurity incident related impact , and other items , was $ 59.4 million or 10.5 percent of revenue versus $ 63.1 million or 12.8 percent for the prior year period . • Foreign exchange had a $ 1.3 million positive impact on income from operations in the third quarter 2021 . Adjusted EBITDA • Third quarter 2021 Non - GAAP Adjusted EBITDA was $ 78.7 million or 13.9 percent of revenue , compared to $ 77.2 million or 15.7 percent of revenue in the prior year period . Earnings Per Share • Third quarter 2021 GAAP fully diluted earnings per share was $ 0.30 compared to $ 0.45 for the same period last year . • Non - GAAP fully diluted earnings per share was $ 1.01 compared to $ 1.00 in the prior year period . Bookings • During the third quarter 2021 , TTEC signed an estimated $ 171 million in annualized contract value compared to $ 170 million in the prior year period . Third quarter 2021 bookings mix was diversified across segments , verticals , and geographies . STRONG CASH FLOW AND BALANCE SHEET FUND INVESTMENTS AND DIVIDENDS • Cash flow from operations in the third quarter 2021 was $ 42.2 million compared to $ 81.5 million for the third quarter 2020 . Capital expenditures in the third quarter 2021 were $ 17.2 million compared to $ 15.9 million for the third quarter 2020 . ● • As of September 30 , 2021 , TTEC had cash and cash equivalents of $ 148.9 million and debt of $ 811.8 million , resulting in a net debt position of $ 662.9 million . This compares to a net debt position of $ 203.0 million for the same period 2020. The increase in net debt is primarily attributable to the acquisition of Avtex Solutions Holdings , LLC in April 2021 and capital