TDCX Inc. (NYSE: TDCX) (“TDCX” or the “Company”), an award-winning digital customer experience (CX) solutions provider for technology and blue-chip companies, today announced its unaudited financial results for the second quarter ended June 30, 2022.
Second Quarter 2022 Financial Highlights
- Total Revenue of US$116.6 million, up 23.3% year-on-year
- Profit for the period was US$19.3 million, up 19.6% year-on-year
- Adjusted Net Income4Â of US$21.8 million, up 35.5% year-on-year
- Adjusted EBITDA1,3Â of US$36.1 million, up 23.0% year-on-year
- Q2 2022 Adjusted EBITDA margin1,3Â of 31.0%, compared with 31.1% for Q2 2021
- Year-to-date Net Cash from Operating Activities of US$76.1 million, up 98.0% year-on-year
Mr. Laurent Junique, Chief Executive Officer and Founder of TDCX, said, “Southeast Asia’s fundamentals remain attractive to companies seeking long term growth. Given our established network, local market expertise and robust talent pool, we continue to attract and to support clients in realizing their growth ambitions in this region.
“We continue to see our business development efforts take flight, adding 25 new logos since the start of the year. Among our new clients are two Southeast Asian market leaders, specifically a leading regional airline and one of the region’s largest integrated car e-commerce platforms. Such logo wins reflect our strengths in this region and our deep sector expertise.”
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(US$ million, except for %)2 |
Q2 2021 |
Q2 2022 |
% Change |
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Revenue |
94.5 |
116.6 |
+23.3% |
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Profit for the period |
16.1 |
19.3 |
+19.6% |
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Adjusted Net Income4 |
16.1 |
21.8 |
+35.5% |
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Adjusted EBITDA1,3 |
29.3 |
36.1 |
+23.0% |
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Adjusted EBITDA Margins1,3 (%) |
31.1% |
31.0% |
Business Highlights
Strong Client Additions
- Signed up 25 new logos since the start of the year, more than triple the 8 logos in H1 2021
- New logo wins in Q2 2022 include a leading regional airline, as well as one of Southeast Asia’s largest integrated car e-commerce platforms
- 60 clients with campaigns that have been launched as of June 30, 2022, a 40% increase as compared with 43 launched clients as of June 30, 2021
- Revenue contribution from new economy5Â clients stood at 93% for H1 2022
Full Year 2022 Outlook Reiterated
For the full year 2022, TDCX expects its financial results to be:
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2022 Outlook |
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Revenue (in millions) |
S$650m to S$675m6Â (unchanged) |
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Revenue growth (YoY) |
Range: 17.1% to 21.6% (unchanged) |
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Adjusted EBITDA margin1,3 |
Approximately 30.0% to 32.0% (unchanged) |
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1 |
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Adjusted EBITDA or Adjusted EBITDA margins are supplemental non-IFRS financial measures and should not be considered in isolation or as a substitute for financial results reported under IFRS (see “Reconciliations of non-IFRS financial measures to the nearest comparable IFRS measures” in the Form 6-K or presentation slides for more details). |
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FX rate of US$1 = S$1.3918 assumed in converting financials from SG dollar to US dollar. |
| 3 |
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Adjusted EBITDA represents profit for the period before interest expense, interest income, income tax expense, depreciation expense and equity-settled share-based payment expense incurred in connection with our Performance Share Plan. “Adjusted EBITDA margin” represents Adjusted EBITDA as a percentage of revenue. |
| 4 |
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“Adjusted Net Income” represents profit for the period before equity-settled share-based payment expense incurred in connection with our Performance Share Plan, net of any tax impact of such adjustments. “Adjusted Net Income margin” represents Adjusted Net Income as a percentage of revenue. |
| 5 |
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“New economy” refers to high growth industries that are on the cutting edge of digital technology and are the driving forces of economic growth. |
| 6 |
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Full year 2022 Outlook remains unchanged in Singapore dollars. This equates to US$467m to US$485m, using the FX rate of US$1 = S$1.3918, being the approximate rate in effect as of June 30, 2022. Previously, this was US$480m to US$499m, using the FX rate of US$1 = S$1.3534m, being the approximate rate in effect as of March 31, 2022. |
Webcast and Conference Call Information
The TDCX senior management will host a conference call to discuss the second quarter 2022 unaudited financial results.
A live webcast of this conference call will be available on TDCX’s website. Access information on the conference call and webcast is as follows:
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Date and time: |
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August 24, 2022, 8:00 AM (U.S. Eastern Time) |
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August 24, 2022, 8:00 PM (Singapore / Hong Kong Time) |
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Webcast link: |
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https://webinars.on24.com/q4/TDCX_Q2_2022 |
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Dial in numbers: |
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USA Toll Free: +1 855 2656958 |
UK Toll Free +44 0 800 0156371 |
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Singapore: +65 3158 0246 |
Hong Kong: +852 5808 0984 |
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International: +1 718 7058796 |
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A replay of the conference call will be available at TDCX’s investor relations website (investors.tdcx.com). An archived webcast will be available at the same link above.
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