Expands partnership with Google Cloud to drive clients’ digital transformation
VANCOUVER — Having just completed a successful initial public offering earlier this month, Telus International announced today its financial results for the fourth quarter and full-year ended December 31, 2020, which saw its annual revenue grow 55% to reach US$1.6 billion in 2020 (the company reports in U.S. dollars).
Revenues in its fourth quarter of 2020 were up 62% to $442 million, compared to $273 million in Q4 2019, primarily driven by growth from existing and new clients (Telus International made special mention of 109% revenue growth in its tech and games segment), as well as contributions from its Competence Call Center (CCC) and Telus Managed IT Services (MITS) acquisitions, the company said in a press release announcing its financial results.
For full-year 2020, Telus International’s adjusted EBITDA increased by 73% to $391 million, compared to $226 million in 2019. Net income for full-year 2020 grew 49% to $103 million, up from $69 million in 2019.
“In a year marked by an unprecedented and challenging global environment, our highly-engaged Telus International team rapidly virtualized our operations to continue meaningfully growing our business in 2020 and achieve outstanding results,” said Jeff Puritt, president and CEO of TELUS International, in the press release. “This included the acquisitions of CCC early in the year, and Lionbridge AI in the fourth quarter, which further bolstered our digital trust and safety practice and advanced the execution of our digital strategy in the data annotation space. These natural adjacencies to our existing capabilities and services are helping us deepen the high-value relationships we enjoy with some of the world’s largest and fastest growing technology companies. We also added many new technology brands in 2020 to our growing list of over 600 clients, and today we announced an exciting expansion to our long-term, strategic Google Cloud partnership that will support an incremental acceleration to our clients’ ongoing digital transformations.”
Telus International’s newly expanded partnership with Google Cloud includes the launch of a new joint go-to-market strategy initially focused on application migration to Google Cloud and infrastructure modernization, says the press release announcing the expanded partnership, which will also see Telus International provide implementation services for Google Cloud’s Contact Center AI solution.
Speaking about Telus International’s IPO, Puritt is quoted as saying: “Telus International’s initial public offering (IPO) earlier this month, dual-listing on both the New York and Toronto Stock Exchanges, was a momentous milestone for our company, and I am grateful to our team members and many stakeholders around the world who contributed to our journey from a single delivery location in the Philippines to a globally scaled, digital customer experience leader, operating in over 20 countries.”
“Telus International’s successful IPO provided significant cash proceeds of nearly half a billion dollars that were used to repay a large portion of the debt incurred under our credit agreement in connection with the recent Lionbridge AI acquisition,” added Vanessa Kanu, Telus International’s chief financial officer. “With our track record of meaningful cash flow generation, we will continue to focus on reducing leverage in the near-term. We are indeed very proud of our financial results, along with the momentum we have been able to build throughout 2020, and are excited about our future growth opportunities in 2021 and beyond.”
For more on Telus International’s fourth-quarter and full-year 2020 financial results, please click here.
