TTEC Holdings, Inc. (TTEC) Form 10-Q — Aug 10, 2026
TTEC's Q2 2026 revenue fell 11.3% year over year to $455.5 million, and the net loss attributable to stockholders widened to $15.4 million, or $0.31 per share, from $8.0 million a year earlier, as both segments posted lower revenue and compressed margins. Credit stress emerged: the company's actual net leverage ratio of 3.85 exceeded the 3.75 covenant maximum for Q2, forcing a waiver on July 15, 2026, and an Eleventh Amendment on August 7, 2026 that cut the facility to $975.0 million, raised the SOFR margin to 6.25% after September 30, 2026, and added collateral — while TTEC is in discussions with lenders about extending the 2027 maturity.
Key figures
- Eps
- -$0.31 (Q2 2026, basic & diluted); -$0.47 (1H 2026)
- Revenue
- $455.5M (Q2 2026); $951.7M (1H 2026)
- Net Income
- -$15.4M attributable to TTEC stockholders (Q2 2026); -$23.0M (1H 2026)
- Debt Amount
- $855.0M drawn under Credit Facility (June 30, 2026)
- Revenue Yoy
- -11.3% (Q2 2026 vs. Q2 2025)
- Total Assets
- $1.37B (June 30, 2026)
- Cash Position
- $93.9M (June 30, 2026)
- Interest Rate
- ~6.9% average accrued rate in Q2 2026; SOFR margin raised to 3.25% through Sep 30, 2026 and 6.25% thereafter under Eleventh Amendment
- Shares Outstanding
- 49295940
- Rpo
- $338.5M as of June 30, 2026
- Seat utilization
- 70% vs. 71% prior year
- Net leverage ratio
- 3.85
- Q2 interest expense
- $16.7M vs. $11.0M operating income
- Effective tax rate q2
- 195.5%
- Operating cash flow 1h
- $78.9M (vs. $114.3M prior year)
- Ttec engage q2 revenue
- $351.5M (-12.1% YoY)
- Ttec digital q2 revenue
- $104.0M (-8.5% YoY)
- Top client concentration
- 12.1% of 1H 2026 revenue (automotive client)
- Max permitted net leverage ratio
- 3.75
- Credit facility commitment after 11th amendment
- $975.0M (reduced from $1.0B)
Price after filing
Close on the filing date to close N calendar days later (from $2.55). Historical, not a forecast.
AI analysis
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