TTEC Holdings, Inc. (NASDAQ:TTEC) Q4 2023 Earnings Conference Call March 1, 2024 8:30 AM ET
Company Participants
Paul Miller - Investor Relations
Kenneth Tuchman - Chairman & Chief Executive Officer
Shelly Swanback - President and CEO, TTEC Engage
Francois Bourret - Chief Accounting Officer
Conference Call Participants
George Sutton - Craig-Hallum Capital Group
Kate Kronstein - William Blair
Michael Latimore - Northland Capital Markets
Joseph Vafi - Canaccord Genuity
Cassie Chan - Bank of America
Vincent Colicchio - Barrington Research
Operator
Welcome to TTEC's Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions] This call is being recorded at the request of TTEC.
I would now like to turn the call over to Paul Miller, TTEC's Senior Vice President, Treasurer, and Investor Relations Officer. Thank you, sir. You may begin.
Paul Miller
Good morning, and thank you for joining us today. TTEC is hosting this call to discuss its fourth quarter and full year financial results for the period ended December 31, 2023. Participating on today's call are Ken Tuchman, Chairman and Chief Executive Officer of TTEC; Shelly Swanback, President of TTEC and Chief Executive Officer of TTEC Engage and Francois Bourret, Interim CFO and Accounting Officer.
Yesterday, TTEC issued a press release announcing its financial results. While this call will reflect items that are discussed in that document, for complete information about our financial performance, we also encourage you to read our 2023 annual report on Form 10. Before we begin, I want to remind you that matters discussed on today's call may include forward-looking statements related to our operating performance, financial goals and business outlook, which are based on management's current beliefs and assumptions. Please note that these forward-looking statements reflect our opinion as of the date of this call, and we undertake no obligation to revise this information as a result of new developments that may occur.
Forward-looking statements are subject to various risks, uncertainties and other factors that could cause our actual results to differ materially from those expected and described today. For a more detailed description of our risk factors, please review our 2022 annual report on Form 10-K.
A replay of this conference call will be available on our website under the Investor Relations section. I will now turn the call over to Ken.
Kenneth Tuchman
Good morning. and thank you for joining us today. 2023 was a dynamic year to say the least. Of the past several quarters, we've been discussing the challenges posed by the macroeconomic environment on businesses across industries and geographies. As a strategic CX technology and services partner for many of these large and complex enterprises, the market dynamics in the second half of the year moderated our performance in 2023. For the year, revenue was $2.46 billion. Adjusted EBITDA was $272 million or 11% of revenue. And adjusted EPS was $2.18 per share. In 2023, we had some bright spots as we made progress diversifying our business with several new clients, geographies and offerings. We grew our client base with approximately 100 meaningful new relationships in TTEC Digital and TTEC Engage. We completed the strategic phase of geographic expansion with several new offshore locations and laid the groundwork to scale and roll out new operations in many new countries this year.