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    TELUS Digital reports first quarter 2025 results, with revenue and profitability in line with expectations; management reiterates 2025 outlook

    5/9/25 6:45:00 AM ET
    $TIXT
    $TU
    EDP Services
    Technology
    Telecommunications Equipment
    Telecommunications
    Get the next $TIXT alert in real time by email

    TELUS Digital Experience (TELUS Digital) (NYSE and TSX:TIXT), a leading global technology company specializing in digital customer experiences, today released its results for the three-month period ended March 31, 2025. TELUS Corporation (TSX:T, NYSE:TU) is the controlling shareholder of TELUS Digital. All figures in this news release, and elsewhere in TELUS Digital disclosures, are in U.S. dollars, unless specified otherwise, and relate only to TELUS Digital results and measures.

    "In the first quarter of 2025, TELUS Digital's operating and financial results were in line with expectations and support our reiteration of the full-year outlook," said Jason Macdonnell, Acting Chief Executive Officer and Chief Operating Officer, TELUS Digital and President, Customer Experience. "Our relationship with TELUS Corporation as an anchor client as well as our overall service diversification continue to provide a certain level of insulation and stability in the current environment. We will continue to invest in and evolve our market and technology capabilities to the benefit of our clients in our pursuit to be the partner of choice as our clients navigate today's business challenges."

    Tobias Dengel, President of TELUS Digital Solutions added, "In Digital Solutions, similar to other players in our industry, we're closely monitoring client sentiment trends during the recent period of market volatility. At the same time, we are seeing good engagement with clients on their automation and cost efficiency needs. Focusing on the longer term, we believe the demand for transformation of consumer-facing digital experiences should provide a solid basis for our future growth. We are encouraged that our positioning as a differentiated partner in helping our clients innovate their customer journeys resulted in the first quarter's year-over-year growth in Digital Solutions revenues."

    Gopi Chande, Chief Financial Officer said, "Across TELUS Digital's service lines, in the first quarter of 2025 we achieved year-over-year revenue growth, primarily driven by AI & Data Solutions as well as Digital Solutions. We saw growth among the majority of our top five largest clients in the quarter, on both a sequential and year-over-year basis. Our continued targeted efficiency programs and measured approach to the timing of our investments are yielding solid and growing cost reduction results. As part of reiterating our full-year financial outlook, we are committed to delivering on expectations and achieving a gradual improvement in our performance, while we navigate a fluid macroeconomic backdrop and continue to manage our client concentration."

    Provided below are financial and operating highlights that include certain non-GAAP measures and ratios. See the Non-GAAP section of this news release for a discussion on such measures and ratios.

    Q1 2025 vs. Q1 2024 summary

    • Revenue of $670 million, an increase of $13 million or 2% on a reported basis and 3% on a constant currency basis1, primarily driven by growth in services provided to existing clients, including TELUS and a leading social media client, among others, and new clients added since the same period in the prior year, partially offset by lower revenues from certain technology and eCommerce clients. Total revenue increase in the quarter included an unfavorable foreign currency impact of approximately 1% compared with the same quarter of the prior year, associated with the strengthening U.S. dollar exchange rate against the euro.
    • Net loss of $25 million and diluted EPS of $(0.09), compared with net income of $28 million and diluted EPS of $0.05, respectively, in the same quarter of the prior year, due to an increase in operating expenses outpacing revenue growth and other income recognized in the comparative period arising from changes in business combination-related provisions that did not reoccur in the current period, partially offset by lower income taxes and interest expense. Net loss margin, calculated by dividing net loss by revenue for the period, was 3.7%, compared with net income margin of 4.3% for the same quarter in the prior year. Net loss and diluted EPS include the impact of acquisition and integration charges, amortization of purchased intangible assets and interest accretion on written put options, among other items. Adjusted Net Income1, which excludes the impact of such items, was $17 million, compared with $65 million in the same quarter of the prior year, primarily due to higher salaries and benefits, goods and services purchased, and share-based compensation expense, which were partially offset by higher revenues earned and lower income tax expense.
    • Adjusted EBITDA1 was $90 million, compared with $153 million in the same quarter of the prior year, primarily due to the increases in salaries and benefits and goods and services purchased outpacing revenue growth, as well as other income generated in the prior year's comparative period from changes in business combination-related provisions, and higher share-based compensation in the current period. Adjusted EBITDA Margin1 was 13.4%, compared with 23.3% in the same quarter of the prior year, due to the aforementioned factors. Adjusted Diluted EPS1 was $0.06, compared with $0.22 in the same quarter of the prior year.
    • Cash provided by operating activities was $69 million and Free Cash Flow1 was $41 million, compared with $126 million and $107 million, respectively, in the same quarter of the prior year, primarily due to increases in operating expenses outpacing revenue growth, higher capital expenditures and timing of certain large client payments.
    • Net Debt to Adjusted EBITDA Leverage Ratio1 as per our credit agreement was 3.4x as of March 31, 2025 compared with 3.2x as of December 31, 2024.
    • Team member count was 78,424 as of March 31, 2025, an increase of 5% year-over-year, resulting from the expansion and ramp of our service programs and new wins across our various regions.

    A discussion of our results of operations is included in our Management's Discussion and Analysis for the three-month period ended March 31, 2025, which is filed on SEDAR+ and as Exhibit 99.2 to our Form 6-K filed on EDGAR. Such materials and additional information are also provided at telusdigital.com/investors.

    Outlook

    For the full-year 2025, management continues to expect:

    • Revenue growth of approximately 2% on an organic basis
    • Adjusted EBITDA of approximately $400 million
    • Adjusted Diluted EPS of approximately $0.32

    Q1 2025 investor call

    TELUS Digital will host a conference call today, May 9, 2025 at 10 a.m. (ET) / 7 a.m. (PT), where management will review the first quarter results, followed by a question and answer session with pre-qualified analysts. A webcast of the conference call will be streamed live on the TELUS Digital Investor Relations website at: https://www.telusdigital.com/investors/news-events and a replay will also be available on the website following the conference call.

    Non-GAAP

    This news release includes non-GAAP financial information, with reconciliation to GAAP measures presented at the end of this news release. We report certain non-GAAP measures used in the management analysis of our performance, but these do not have standardized meanings under International Financial Reporting Standards, as issued by the International Accounting Standards Board (IFRS® Accounting Standards). These non-GAAP financial measures and non-GAAP ratios may not be comparable to GAAP measures or ratios and may not be comparable to similarly titled non-GAAP financial measures or non-GAAP ratios reported by other companies, including those within our industry and TELUS Corporation, our controlling shareholder.

    Adjusted EBITDA, Adjusted Net Income (Loss), Free Cash Flow, revenue on a constant currency basis, and Net Debt are non-GAAP financial measures, while Adjusted EBITDA Margin, Adjusted Diluted EPS, revenue growth on a constant currency basis and Net Debt to Adjusted EBITDA Leverage Ratio are non-GAAP ratios.

    Adjusted EBITDA is commonly used by our industry peers and provides a measure for investors to compare and evaluate our relative operating performance. We use it to assess our ability to service existing and new debt facilities, and to fund accretive growth opportunities and acquisition targets. In addition, certain financial debt covenants associated with our credit facility, including Net Debt to Adjusted EBITDA Leverage Ratio, are based on Adjusted EBITDA, which requires us to monitor this non-GAAP financial measure in connection with our financial covenants. Adjusted EBITDA should not be considered an alternative to net income in measuring our financial performance, and it should not be used as a replacement measure of current and future operating cash flows. However, we believe a financial measure that presents net income adjusted for these items provides a more consistent measure for management to evaluate period-over-period performance and would enable an investor to better evaluate our underlying business trends, our operational performance and overall business strategy.

    We exclude items from Adjusted Net Income (Loss) and Adjusted EBITDA, such as acquisition, integration and other, foreign exchange gains or losses and, additionally, with respect to Adjusted Net Income (Loss), the interest accretion on written put options, amortization of purchased intangible assets, and the related tax effect of these adjustments. Full reconciliations of Adjusted EBITDA and Adjusted Net Income (Loss) to the comparable GAAP measures are included at the end of this news release.

    We calculate Free Cash Flow by deducting capital expenditures from our cash provided by operating activities, as we believe capital expenditures are a necessary ongoing cost to maintain our existing productive capital assets and support our organic business operations. We use Free Cash Flow to evaluate the cash flows generated from our ongoing business operations that can be used to meet our financial obligations, service debt facilities, reinvest in our business, and to fund, in part, potential future acquisitions.

    Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by consolidated revenue. We regularly monitor Adjusted EBITDA Margin to evaluate our operating performance compared to established budgets, operational goals and the performance of industry peers.

    Adjusted Diluted EPS is used by management to assess the profitability of our business operations on a per share basis. We regularly monitor Adjusted Diluted EPS as it provides a more consistent measure for management and investors to evaluate our period-over-period operating performance, to better understand our ability to manage operating costs and to generate profits. Adjusted Diluted EPS is calculated by dividing Adjusted Net Income (Loss) by the weighted average number of diluted equity shares outstanding during the period.

    Revenue on a constant currency basis is used by management to assess revenue, the most directly comparable GAAP measure, excluding the effect of foreign currency fluctuations. Revenue on a constant currency basis is calculated as current period revenue translated using average foreign exchange rates in the comparable prior period.

    Revenue growth on a constant currency basis is used by management to assess the growth of revenue, the most directly comparable GAAP measure, excluding the effect of foreign currency fluctuations. Revenue growth on a constant currency basis is calculated as current period revenue growth translated using average foreign exchange rates in the comparable prior period.

    Net Debt to Adjusted EBITDA Leverage Ratio as per our credit agreement is calculated based on Net Debt and Adjusted EBITDA, both as per our credit agreement. Over the long term, we seek to maintain a Net Debt to Adjusted EBITDA Leverage Ratio in the range of 2-3x. We may deviate from our target Net Debt to Adjusted EBITDA Leverage Ratio as per our credit agreement to pursue acquisitions and other strategic opportunities that may require us to borrow additional funds and, additionally, our ability to maintain this targeted ratio depends on our ability to continue to grow our business, general economic conditions, industry trends and other factors.

    We have not provided a quantitative reconciliation of our full-year 2025 outlook for Adjusted EBITDA and Adjusted Diluted EPS to our full-year 2025 outlook for net income and diluted EPS because we are unable, without making unreasonable efforts, to calculate certain reconciling items with confidence, which could materially affect the computation of these financial ratios and measures.

    Cautionary note regarding forward-looking statements

    This news release contains forward-looking statements concerning our business, operations and financial performance and condition, as well as our plans, objectives and expectations for our business operations and financial performance and condition. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "aim", "anticipate", "assume", "believe", "contemplate", "continue", "could", "due", "estimate", "expect", "goal", "intend", "may", "objective", "plan", "predict", "potential", "positioned", "seek", "should", "target", "will", "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology.

    These forward-looking statements are based on our current expectations, estimates, forecasts and projections about our business and the industry in which we operate, and management's beliefs and assumptions, and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, uncertainties or otherwise, except as required by law.

    Specifically, we made several assumptions underlying our financial outlook for the full-year 2025 results, including key assumptions in relation to: our ability to execute our growth strategy, including by expanding services offered to existing clients and attracting new clients; our ability to maintain the competitiveness of our service offerings and meet changing customer needs, including by continuing to invest in, develop and deploy new technologies and digital transformation capabilities; our ability to maintain our corporate culture and attract and retain talent; our ability to integrate, and realize the benefits of, acquisitions that align with our strategy and enhance our core capabilities and solutions; the relative growth rate and size of our target industry verticals; our projected operating and capital expenditure requirements; our ability to manage costs and adjust our cost structure as needed; and the impact of global conditions on our and our clients' businesses, including macroeconomic uncertainty, inflation, interest rates fluctuations and geopolitical conditions. Our financial outlook provides management's best judgement of how trends will impact the business and may not be appropriate for other purposes.

    Risk factors that may cause actual results to differ materially from current expectations include, among other things:

    • We face intense competition from companies that offer services similar to ours.
    • Our business and financial results have been and could be adversely affected by a number of global conditions and the effects of these same conditions on our clients' businesses and demand for our services.
    • Because the majority of our costs is fixed in the short-term, we may experience a delay in our ability to immediately adjust our cost structure in response to prolonged lower client demand.
    • A limited number of clients account for a significant portion of our revenue and loss of or reduction in business from, or consolidation of, these or any other major clients could have a material adverse effect on our business, financial condition, financial performance and prospects.
    • Our ability to grow and maintain our profitability could be materially affected if changes in technology, including without limitation generative artificial intelligence (GenAI), and client expectations outpace our service offerings and the development of our internal tools and processes or if we are not able to meet the expectations of our clients.
    • Our growth prospects are dependent upon attracting and retaining enough qualified team members to support our operations, and competition for talent is intense.
    • If we cannot maintain our unique culture as we grow, our services, financial performance and business may be harmed.
    • Our business could be adversely affected if we lose members of our senior management.
    • We could be unable to successfully identify, complete, integrate and realize the benefits of acquisitions or manage the associated risks.
    • The unauthorized disclosure of sensitive or confidential client and customer data, through cyberattacks or otherwise, could expose us to protracted and costly litigation, damage to reputation and cause us to lose clients / revenue.
    • Our business may not develop in ways that we currently anticipate due to negative public reaction to offshore outsourcing, content moderation and proposed legislation or otherwise.
    • Our policies, procedures and programs to safeguard the health, safety and security of our team members, particularly our content moderation team members, may not be adequate.
    • Our business would be adversely affected if individuals providing data annotation services through AI Data Solutions were classified as employees (not as independent contractors).
    • The dual-class structure contained in our articles has the effect of concentrating voting control and the ability to influence corporate matters with TELUS.
    • TELUS will, for the foreseeable future, control the TELUS Digital board of directors.
    • The market price of our subordinate voting shares may be affected by low trading volume and the market pricing for our subordinate voting shares may decline as a result of future sales, or the perception of the likelihood of future sales, by us or our shareholders in the public market.

    These risk factors, as well as other risk factors that may impact our business, financial condition and results of operation, are also described in our "Risk Factors" section of our Annual Report available on SEDAR+ and in "Item 3D—Risk Factors" of our Annual Report on Form 20-F filed on February 13, 2025, and available on EDGAR.

    TELUS International (Cda) Inc.

    Condensed Interim Consolidated Statements of Income

    (unaudited)

     

     

     

    Three months

    Periods ended March 31 (millions except earnings per share)

     

     

    2025

     

     

     

    2024

     

    REVENUE

     

    $

    670

     

     

    $

    657

     

     

     

     

     

     

    OPERATING EXPENSES

     

     

     

     

    Salaries and benefits

     

     

    444

     

     

     

    416

     

    Goods and services purchased

     

     

    129

     

     

     

    116

     

    Share-based compensation

     

     

    7

     

     

     

    1

     

    Acquisition, integration and other

     

     

    6

     

     

     

    7

     

    Depreciation

     

     

    35

     

     

     

    34

     

    Amortization of intangible assets

     

     

    46

     

     

     

    45

     

     

     

     

    667

     

     

     

    619

     

     

     

     

     

     

    OPERATING INCOME

     

     

    3

     

     

     

    38

     

     

     

     

     

     

    OTHER EXPENSES (INCOME)

     

     

     

     

    Changes in business combination-related provisions

     

     

    —

     

     

     

    (29

    )

    Interest expense

     

     

    30

     

     

     

    35

     

    Foreign exchange gain

     

     

    (2

    )

     

     

    (5

    )

    (LOSS) INCOME BEFORE INCOME TAXES

     

     

    (25

    )

     

     

    37

     

    Income tax expense

     

     

    —

     

     

     

    9

     

    NET (LOSS) INCOME

     

    $

    (25

    )

     

    $

    28

     

     

     

     

     

     

    EARNINGS (LOSS) PER SHARE

     

     

     

     

    Basic

     

    $

    (0.09

    )

     

    $

    0.10

     

    Diluted

     

    $

    (0.09

    )

     

    $

    0.05

     

     

     

     

     

     

    TOTAL WEIGHTED AVERAGE SHARES OUTSTANDING (millions)

     

     

     

     

    Basic

     

     

    276

     

     

     

    274

     

    Diluted

     

     

    276

     

     

     

    289

     

    TELUS International (Cda) Inc.

    Condensed Interim Consolidated Statements of Financial Position

    (unaudited)

     

    As at (millions)

     

    March 31, 2025

     

    December 31, 2024

    ASSETS

     

     

     

     

    Current assets

     

     

     

     

    Cash and cash equivalents

     

    $

    137

     

    $

    174

    Accounts receivable

     

     

    459

     

     

    454

    Due from affiliated companies

     

     

    31

     

     

    16

    Income and other taxes receivable

     

     

    9

     

     

    8

    Prepaid and other assets

     

     

    56

     

     

    42

    Current portion of derivative assets

     

     

    12

     

     

    13

     

     

     

    704

     

     

    707

    Non-current assets

     

     

     

     

    Property, plant and equipment, net

     

     

    465

     

     

    456

    Intangible assets, net

     

     

    1,351

     

     

    1,379

    Goodwill

     

     

    1,953

     

     

    1,926

    Derivative assets

     

     

    —

     

     

    15

    Deferred income taxes

     

     

    12

     

     

    12

    Other long-term assets

     

     

    26

     

     

    26

     

     

     

    3,807

     

     

    3,814

    Total assets

     

    $

    4,511

     

    $

    4,521

     

     

     

     

     

    LIABILITIES AND OWNERS' EQUITY

     

     

     

     

    Current liabilities

     

     

     

     

    Accounts payable and accrued liabilities

     

    $

    317

     

    $

    321

    Due to affiliated companies

     

     

    260

     

     

    231

    Income and other taxes payable

     

     

    71

     

     

    68

    Current portion of provisions

     

     

    44

     

     

    7

    Current maturities of long-term debt

     

     

    125

     

     

    116

    Current portion of derivative liabilities

     

     

    1

     

     

    2

     

     

     

    818

     

     

    745

    Non-current liabilities

     

     

     

     

    Provisions

     

     

    98

     

     

    139

    Long-term debt

     

     

    1,365

     

     

    1,409

    Derivative liabilities

     

     

    2

     

     

    —

    Deferred income taxes

     

     

    248

     

     

    256

    Other long-term liabilities

     

     

    28

     

     

    27

     

     

     

    1,741

     

     

    1,831

    Total liabilities

     

     

    2,559

     

     

    2,576

     

     

     

     

     

    Owners' equity

     

     

    1,952

     

     

    1,945

    Total liabilities and owners' equity

     

    $

    4,511

     

    $

    4,521

    TELUS International (Cda) Inc.

    Condensed Interim Consolidated Statements of Cash Flows

    (unaudited)

     

     

     

    Three months

    Periods ended March 31 (millions)

     

     

    2025

     

     

     

    2024

     

    OPERATING ACTIVITIES

     

     

     

     

    Net (loss) income

     

    $

    (25

    )

     

    $

    28

     

    Adjustments:

     

     

     

     

    Depreciation and amortization

     

     

    81

     

     

     

    79

     

    Interest expense

     

     

    30

     

     

     

    35

     

    Income tax expense

     

     

    —

     

     

     

    9

     

    Share-based compensation

     

     

    7

     

     

     

    1

     

    Changes in business combination-related provisions

     

     

    —

     

     

     

    (29

    )

    Change in market value of derivatives and other

     

     

    (10

    )

     

     

    (6

    )

    Net change in non-cash operating working capital

     

     

    (7

    )

     

     

    11

     

    Income taxes paid, net

     

     

    (7

    )

     

     

    (2

    )

    Cash provided by operating activities

     

     

    69

     

     

     

    126

     

     

     

     

     

     

    INVESTING ACTIVITIES

     

     

     

     

    Cash payments for capital assets

     

     

    (27

    )

     

     

    (22

    )

    Cash payments for acquisitions

     

     

    —

     

     

     

    (3

    )

    Cash used in investing activities

     

     

    (27

    )

     

     

    (25

    )

     

     

     

     

     

    FINANCING ACTIVITIES

     

     

     

     

    Shares issued

     

     

    1

     

     

     

    1

     

    Withholding taxes paid related to net share settlement of equity awards

     

     

    (2

    )

     

     

    (2

    )

    Long-term debt issued

     

     

    150

     

     

     

    45

     

    Repayment of long-term debt

     

     

    (211

    )

     

     

    (94

    )

    Interest paid on credit facilities

     

     

    (19

    )

     

     

    (24

    )

    Cash used in financing activities

     

     

    (81

    )

     

     

    (74

    )

     

     

     

     

     

    Effect of exchange rate changes on cash and cash equivalents

     

     

    2

     

     

     

    —

     

     

     

     

     

     

    CASH POSITION

     

     

     

     

    (Decrease) increase in cash and cash equivalents

     

     

    (37

    )

     

     

    27

     

    Cash and cash equivalents, beginning of period

     

     

    174

     

     

     

    127

     

    Cash and cash equivalents, end of period

     

    $

    137

     

     

    $

    154

     

    Non-GAAP reconciliations

    (unaudited)

     

     

     

    Three Months Ended

    March 31

    (millions, except percentages)

     

     

    2025

     

     

     

    2024

     

    Revenue, as reported

     

    $

    670

     

     

    $

    657

     

    Foreign exchange impact on current period revenue using prior comparative period's rates

     

     

    7

     

     

     

    (2

    )

    Revenue on a constant currency basis

     

    $

    677

     

     

    $

    655

     

    Revenue growth

     

     

    2

    %

     

     

    (4

    )%

    Revenue growth on a constant currency basis

     

     

    3

    %

     

     

    (5

    )%

     

     

    Three Months Ended

    March 31

    (millions, except per share amounts)

     

     

    2025

     

     

     

    2024

     

    Net (loss) income

     

    $

    (25

    )

     

    $

    28

     

    Add back (deduct):

     

     

     

     

    Acquisition, integration and other

     

     

    6

     

     

     

    7

     

    Amortization of purchased intangible assets

     

     

    43

     

     

     

    42

     

    Interest accretion on written put options

     

     

    2

     

     

     

    3

     

    Foreign exchange gain

     

     

    (2

    )

     

     

    (5

    )

    Tax effect of the adjustments above

     

     

    (7

    )

     

     

    (10

    )

    Adjusted Net Income

     

    $

    17

     

     

    $

    65

     

    Adjusted Basic Earnings Per Share

     

    $

    0.06

     

     

    $

    0.24

     

    Adjusted Diluted Earnings Per Share

     

    $

    0.06

     

     

    $

    0.22

     

     

     

    Three Months Ended

    March 31

    (millions, except percentages)

     

     

    2025

     

     

     

    2024

     

    Net (loss) income

     

    $

    (25

    )

     

    $

    28

     

    Add back (deduct):

     

     

     

     

    Acquisition, integration and other

     

     

    6

     

     

     

    7

     

    Depreciation and amortization

     

     

    81

     

     

     

    79

     

    Interest expense

     

     

    30

     

     

     

    35

     

    Foreign exchange gain

     

     

    (2

    )

     

     

    (5

    )

    Income tax expense

     

     

    —

     

     

     

    9

     

    Adjusted EBITDA

     

    $

    90

     

     

    $

    153

     

    Net (loss) income margin

     

     

    (3.7

    )%

     

     

    4.3

    %

    Adjusted EBITDA Margin

     

     

    13.4

    %

     

     

    23.3

    %

     

     

    Three Months Ended

    March 31

    (millions)

     

     

    2025

     

     

     

    2024

     

    Cash provided by operating activities

     

    $

    69

     

     

    $

    126

     

    Less: capital expenditures

     

     

    (28

    )

     

     

    (19

    )

    Free Cash Flow

     

    $

    41

     

     

    $

    107

     

    As at (millions, except for ratio)

     

    March 31,

    2025

     

    December 31, 2024

     

     

     

     

     

    Outstanding credit facility

     

    $

    1,245

     

     

    $

    1,284

     

    Contingent facility utilization

     

     

    7

     

     

     

    7

     

    Net derivative liabilities

     

     

    —

     

     

     

    2

     

    Cash balance1

     

     

    (137

    )

     

     

    (150

    )

    Net Debt as per credit agreement

     

    $

    1,115

     

     

    $

    1,143

     

    Adjusted EBITDA (trailing 12 months)2

     

    $

    418

     

     

    $

    481

     

    Adjustments required as per credit agreement

     

    $

    (90

    )

     

    $

    (124

    )

    Net Debt to Adjusted EBITDA Leverage Ratio as per credit agreement

     

     

    3.4

     

     

     

    3.2

     

    1 Maximum cash balance permitted as a reduction to net debt, as per the credit agreement, is $150 million.

    About TELUS Digital

    TELUS Digital ((NYSE &, TSX:TIXT) crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients' products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation. Our portfolio of end-to-end, integrated capabilities include customer experience management, digital solutions, such as cloud solutions, AI-fueled automation, front-end digital design and consulting services, AI & data solutions, including computer vision, and trust, safety and security services. Fuel iXTM is TELUS Digital's proprietary platform and suite of products for clients to manage, monitor, and maintain generative AI across the enterprise, offering both standardized AI capabilities and custom application development tools for creating tailored enterprise solutions.

    Powered by purpose, TELUS Digital leverages technology, human ingenuity and compassion to serve customers and create inclusive, thriving communities in the regions where we operate around the world. Guided by our Humanity-in-the-Loop principles, we take a responsible approach to the transformational technologies we develop and deploy by proactively considering and addressing the broader impacts of our work. Learn more at: telusdigital.com.

    ____________________

    1 Revenue growth on a constant currency basis, Adjusted EBITDA Margin, Adjusted Diluted EPS and Net Debt to Adjusted EBITDA Leverage Ratio are non-GAAP ratios, while Adjusted Net Income, Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. See the Non-GAAP section of this news release.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250509997689/en/

    TELUS Digital Investor Relations

    Olena Lobach

    (604) 695-3455

    [email protected]

    TELUS Digital Media Relations

    Ali Wilson

    (604) 328-7093

    [email protected]

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