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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2024
SEGMENT INFORMATION [ABSTRACT] |
SEGMENT INFORMATION | (3)SEGMENT INFORMATION The Company reports the following two segments: TTEC Digital and the CX Technology Services Industry TTEC Digital buyers are seeking solutions in several areas including cost optimization, migration from outdated legacy platforms to more agile cloud environments, lack of CX talent and expertise and a need for a practical way forward with AI. TTEC Digital takes a technology agnostic approach to these challenges and focuses on designing and delivering solutions specific to each client’s specifications. TTEC Digital has entered into strategic partnerships with the leading CX software vendors including Genesys, Microsoft, Cisco, AWS and Google which positions TTEC Digital to support the majority of CX platform requirements. TTEC Digital’s solutions are built to respond to market needs for both enterprise and small and medium-sized business clients. AI design and delivery capabilities are woven across all four of the following pillars.
| • | Professional Services: CX and AI solution planning, design, and implementation services
| • | Managed Services: Cloud application and premise support
| • | CX Consulting, Analytics and AI: Transformation strategy and design, data science, engineering, and visualization
| • | IP & Software: Custom software engineering through TTEC Digital’s IP and Software division
The segment has a three-pronged go to market strategy that includes growing existing client relationships, partner channel motions and general market development. In 2023, TTEC Digital expanded its Hyderabad Innovation Studio in India with the goal of continuing to expand its offshore delivery capabilities, and currently approximately 41% of the staff are located in one of several offshore locations. TTEC Engage and the CX Business Process Outsourcing Services Industry The TTEC Engage segment’s solutions are built to respond to the following market needs for clients.
| • | Customer Support
| • | Tech Support
| • | Revenue Generation and Growth Services
| • | Trust & Safety
| • | AI Operations, including data annotation and labeling
| • | Back-office Support
TTEC Engage goes to market through a vertical approach with customized solutions that include industry-specific talent, technology, certifications, and capabilities. For example, in the Banking, Financial Services and Insurance (“BFSI”) vertical, we support several lines of business with customized offerings for retail banking, online banking, credit card, property and casualty and loans. In healthcare, the segment supports care, technical support, revenue generation and back-office capabilities to meet the needs of payer, provider, clinical and pharma clients. The Company allocates to each segment its portion of corporate operating expenses. All intercompany transactions between the reported segments for the periods presented have been eliminated. The following tables present certain financial data by segment (in thousands): Three Months Ended June 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Depreciation |  | Income/ |
​ | ​ | Gross | ​ | Intersegment | ​ | Net | ​ | & | ​ | (loss) from |
​ | ​ | Revenue | ​ | Sales | ​ | Revenue | ​ | Amortization | ​ | Operations |
TTEC Digital | ​ | $ | 116,368 | ​ | $ | — | ​ | $ | 116,368 | ​ | $ | 7,014 | ​ | $ | 6,008 | ​
TTEC Engage | ​ |  | 417,717 | ​ |  | — | ​ |  | 417,717 | ​ |  | 18,057 | ​ |  | (230,421) | ​
Total | ​ | $ | 534,085 | ​ | $ | — | ​ | $ | 534,085 | ​ | $ | 25,071 | ​ | $ | (224,413) | ​
​ Three Months Ended June 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Depreciation |  | Income |
​ | ​ | Gross | ​ | Intersegment | ​ | Net | ​ | & | ​ | from |
​ | ​ | Revenue | ​ | Sales | ​ | Revenue | ​ | Amortization | ​ | Operations |
TTEC Digital | ​ | $ | 117,585 | ​ | $ | — | ​ | $ | 117,585 | ​ | $ | 6,722 | ​ | $ | 7,154 | ​
TTEC Engage | ​ |  | 482,809 | ​ |  | — | ​ |  | 482,809 | ​ |  | 18,224 | ​ |  | 24,144 | ​
Total | ​ | $ | 600,394 | ​ | $ | — | ​ | $ | 600,394 | ​ | $ | 24,946 | ​ | $ | 31,298 | ​
​ Six Months Ended June 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Depreciation |  | Income/ |
​ | ​ | Gross | ​ | Intersegment | ​ | Net | ​ | & | ​ | (loss) from |
​ | ​ | Revenue | ​ | Sales | ​ | Revenue | ​ | Amortization | ​ | Operations |
TTEC Digital | ​ | $ | 228,399 | ​ | $ | — | ​ | $ | 228,399 | ​ | $ | 14,064 | ​ | $ | 9,296 | ​
TTEC Engage | ​ |  | 882,324 | ​ |  | — | ​ |  | 882,324 | ​ |  | 36,152 | ​ |  | (210,998) | ​
Total | ​ | $ | 1,110,723 | ​ | $ | — | ​ | $ | 1,110,723 | ​ | $ | 50,216 | ​ | $ | (201,702) | ​
​ Six Months Ended June 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Depreciation |  | Income |
​ | ​ | Gross | ​ | Intersegment | ​ | Net | ​ | & | ​ | from |
​ | ​ | Revenue | ​ | Sales | ​ | Revenue | ​ | Amortization | ​ | Operations |
TTEC Digital | ​ | $ | 234,512 | ​ | $ | — | ​ | $ | 234,512 | ​ | $ | 13,583 | ​ | $ | 7,939 | ​
TTEC Engage | ​ |  | 999,168 | ​ | ​ | — | ​ |  | 999,168 | ​ |  | 37,190 | ​ |  | 67,770 | ​
Total | ​ | $ | 1,233,680 | ​ | $ | — | ​ | $ | 1,233,680 | ​ | $ | 50,773 | ​ | $ | 75,709 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | June 30, | ​ | June 30, | ​
​ | ​ | 2024 |  | 2023 |  | 2024 |  | 2023 |
Capital Expenditures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
TTEC Digital | ​ | $ | 2,290 |  | $ | 2,352 |  | $ | 4,077 |  | $ | 4,626 | ​
TTEC Engage | ​ |  | 11,919 | ​ |  | 16,933 | ​ |  | 23,605 | ​ |  | 28,328 | ​
Total | ​ | $ | 14,209 |  | $ | 19,285 |  | $ | 27,682 |  | $ | 32,954 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | June 30, 2024 |  | December 31, 2023 | ​
Total Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
TTEC Digital | ​ | ​ | $ | 798,832 |  | $ | 815,488 | ​
TTEC Engage | ​ | ​ |  | 993,789 | ​ |  | 1,370,110 | ​
Total | ​ | ​ | $ | 1,792,621 |  | $ | 2,185,598 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ The following table presents revenue based upon the geographic location where the services are provided (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30, | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
Revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States / Canada | ​ | $ | 354,607 | ​ | $ | 414,854 |  | $ | 741,599 | ​ | $ | 858,890 | ​
Philippines / Asia Pacific / India | ​ |  | 108,728 | ​ |  | 115,740 | ​ |  | 229,194 | ​ |  | 237,779 | ​
Europe / Middle East / Africa | ​ |  | 42,188 | ​ |  | 36,023 | ​ |  | 81,031 | ​ |  | 70,477 | ​
Latin America | ​ |  | 28,562 | ​ |  | 33,777 | ​ |  | 58,899 | ​ |  | 66,534 | ​
Total | ​ | $ | 534,085 |  | $ | 600,394 | ​ | $ | 1,110,723 | ​ | $ | 1,233,680 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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