TELUS Digital reports fourth quarter and full-year 2024 results, delivering stable operating and financial performance; provides outlook for 2025

Vancouver, Canada – TELUS Digital Experience (TELUS Digital) (NYSE and TSX: TIXT), a company dedicated to crafting lasting customer experiences through data, technology, and a human-centric approach, today released its results for the fourth quarter and full-year ended December 31, 2024. 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 fourth quarter of 2024, TELUS Digital delivered stable operating and financial performance. We remain focused on our key priorities including the further evolution of our business, delivering service quality excellence, and talent development, all in pursuit of our revenue growth goals. We are committed to making the improvements necessary to achieve this,” said Jason Macdonnell, Acting Chief Executive Officer and Chief Operating Officer, TELUS Digital and President, TELUS Digital Customer Experience. “In 2024, we added 55 net new clients across diverse industries. Notably, among our 13 net new clients in the fourth quarter, we won customer experience services for two large American retailers, which will be delivered in India and in South Africa – offshore locations in high demand with clients and where we expect to see further growth. In 2024, we also expanded our business with 162 existing clients, indicative of our efforts to diversify beyond our largest accounts. Across all our operations, and especially in our largest service line, Customer Experience Management, we are deploying targeted improvement plans to enhance our operational performance and yield better customer sentiment, reflective of our delivery efficacy and how likely a client is to grow with us or to recommend us to other clients. In a market of heightened competition, pricing pressures and vendor consolidation, these efforts will continue to help us stabilize and capture opportunities across our client base, as we deliver on our service excellence promise.”

Jason continued: “In 2024, we saw good momentum in AI Data Solutions, on the strength of our global practice and client relationships with several hyperscalers, existing clients who are investing in this area. Among our key wins in the fourth quarter, we added two new clients in AI research and product development to support their multimodal large language models, as well as two new clients in the autonomous transportation sector.”

“We also continue to see progress in our Digital Solutions service line, on the back of client re-engagement and higher utilization of our talent, with an overall improvement in our opportunity pipeline to levels we haven’t seen over the past 18 months,” said Tobias Dengel, President of TELUS Digital Solutions. “At the same time, we are starting to create interest in our CX strategy consulting and custom implementation capabilities around big data, machine learning and GenAI technologies, focused on showing measurable real-world value on employee productivity and business outcomes. Based on pilots conducted in 2024, examples range from revenue lift for telecom field teams and repair technicians to higher call deflection and issue resolution from AI-enabled customer assistants. Our ability to help new and existing clients realize rapid time to value by bundling Digital Solutions with Customer Experience Management services positions TELUS Digital competitively to address the significant shift in customer experience and digital transformation.”

Gopi Chande, Chief Financial Officer said, “In the fourth quarter of 2024, TELUS Digital’s revenue was up 5% from the previous quarter and steady year-over-year. On a sequential quarter basis, we also achieved stability in margins. For 2025, our revenue outlook reflects the dynamics and volatility we’re seeing in the industry, with strong early signs of demand across our Digital Solutions service line. Our margin expectations assume further stabilization as well as investments to support our return to organic growth. Specifically, we will invest in further evolution of our business, focused on operational efficiencies and workforce management, and continued product development and marketing, including go-to-market with Fuel iX™, to help us capture opportunities for growth and diversification.”

Complete version of the Earnings Release is available at the link below.