IBEX Ltd

Listed Company

IBEXCIK 0001720420NasdaqEmerging GrowthServices-Computer Processing & Data PreparationD0FY ends Jun 30

Period

FY 2025

Revenue

$558.27M

Net Income

$36.86M

Total Assets

$273.21M

Equity

$134.31M

Shares Out

13.41M

Op. Cash Flow

$45.67M

Business

IBEX Ltd delivers business process outsourcing, smart digital marketing, online acquisition technology and end-to-end customer engagement solutions to help companies acquire, engage and retain customers. It offers omnichannel customer experience operations, technical support, revenue generation and back-office services, plus digital marketing, e-commerce platform solutions, AI-powered Wave iX virtual agents and translation, and CX analytics and survey services. Key business segments include ibex Connect (customer engagement/support), ibex Digital (digital marketing and acquisition) and ibex CX (surveys and analytics). The company serves digital-first and blue‑chip clients across Retail & E‑commerce, HealthTech, FinTech, Telecommunications, Travel and other verticals via onshore, nearshore and offshore delivery centers, cloud-based solutions and work‑at‑home capabilities.

Summary from filing dated 2025-09-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Revenue	558	509	523	493	443
Cost of services (exclusive of depreciation and amortization presented separately below)	386	357	375	374	335
Selling, general and administrative	109	93	89	80	77
Depreciation and amortization	17	19	19	18	14
Total operating expenses	512	469	483	472	426
Income from operations	47	39	40	21	17
Interest income	955,000	2	640,000	43,000	—
Interest expense	−2	−514,000	−792,000	—	—
Income before income taxes	46	41	40	19	15
Provision for income tax expense	−9	−7	−9	2	−2
Net income	37	34	32	21	13
Foreign currency translation adjustments	1	−2	−2	−2	−650,000
Unrealized gain / (loss) on cash flow hedging instruments, net of tax	775,000	−111,000	515,000	−323,000	202,000
Actuarial (loss) / gain on defined benefit plan	−312,000	133,000	−31,000	440,000	137,000
Total other comprehensive income / (loss)	2	−2	−2	−2	−311,000
Total comprehensive income	38	32	30	19	13
Basic (in dollars per share)	2.51	1.9	1.74	1.18	0.74
Diluted (in dollars per share)	2.36	1.84	1.67	1.15	0.71
Basic (in shares)	15	18	18	18	18
Diluted (in shares)	16	18	19	19	18

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	15	63	57	49	—
Accounts receivable, net of allowance of $232 and $72	117	98	86	75	—
Prepaid expenses	9	8	7	7	—
Due from related parties	40,000	192,000	43,000	13,000	—
Tax advances and receivables	2	9	6	6	—
Other current assets	2	2	2	5	—
Total current assets	146	180	159	142	—
Property and equipment, net	33	30	41	42	—
Operating lease assets	62	59	71	83	—
Goodwill	12	12	12	12	—
Deferred tax asset, net	7	4	5	9	—
Other non-current assets	14	9	6	6	—
Total non-current assets	128	114	135	152	—
Total assets	273	294	293	294	—
Accounts payable and accrued liabilities	19	17	19	21	—
Accrued payroll and employee-related liabilities	39	31	29	33	—
Current deferred revenue	5	5	6	9	—
Current operating lease liabilities	14	12	13	14	—
Current debt	823,000	660,000	413,000	15	—
Due to related parties	22,000	60,000	2	3	—
Income taxes payable	2	6	3	3	—
Total current liabilities	80	71	73	98	—
Non-current deferred revenue	1	1	1	4	—
Non-current operating lease liabilities	54	53	65	76	—
Long-term debt	796,000	867,000	600,000	661,000	—
Other non-current liabilities	3	2	3	2	—
Total non-current liabilities	59	57	70	83	—
Total liabilities	139	128	143	181	—
Commitments (Note 9)	—	—	—	—	—
Common stock: par value $0.0001, 108,057,967 shares authorized, 13,357,990 and 17,017,476 shares outstanding as of June 30, 2025 and 2024, respectively	1,000	2,000	2,000	2,000	—
Additional paid-in capital	218	210	205	198	—
Treasury stock at cost: 5,515,403 and 1,567,552 shares as of June 30, 2025 and 2024, respectively	−103	−25	−4	−3	—
Accumulated other comprehensive loss	−6	−8	−6	−5	—
Retained earnings / (deficit)	26	−11	−45	−76	—
Total stockholders' equity	134	166	150	113	95
Total liabilities and stockholders' equity	273	294	293	294	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Noncash lease expense	13	13	14	14	12
Warrant contra revenue	0	1	1	1	800,000
Deferred income tax	−3	344,000	5	−5	−2
Stock-based compensation expense	5	4	5	2	5
Allowance of expected credit losses	514,000	33,000	295,000	0	291,000
Impairment losses	1	2	0	0	—
Loss on lease terminations	0	0	251,000	0	−634,000
Gain on sale of subsidiaries	0	0	−246,000	0	0
Increase in accounts receivable	−19	−12	−12	−10	−13
Decrease / (increase) in prepaid expenses and other current assets	361,000	−8	1	4	−2
Increase / (decrease) in accounts payable and accrued liabilities	6	−2	−4	2	−4
Increase / (decrease) in deferred revenue	752,000	−2	−5	6	3
Decrease in operating lease liabilities	−14	−14	−14	−13	−11
Net cash inflow from operating activities	46	36	42	40	16
Purchase of property and equipment	−18	−9	−19	−26	−21
Cash outflow from sale of subsidiaries, net of cash received	0	0	−85,000	0	0
Net cash outflow from investing activities	−18	−9	−19	−26	−21
Proceeds from line of credit	83	238,000	43	88	116
Repayments of line of credit	−83	−291,000	−55	−99	−115
Repayment of debt	0	0	−4	−7	−11
Proceeds from the exercise of options	4	366,000	2	35,000	28,000
Principal payments on finance leases	−953,000	−490,000	−447,000	−818,000	−7
Purchase of treasury shares	−78	−22	−276,000	−3	0
Net cash outflow from financing activities	−75	−22	−14	−22	41
Effects of exchange rate difference on cash and cash equivalents	−3,000	−21,000	−610,000	−965,000	−181,000
Net (decrease) / increase in cash and cash equivalents	−47	5	9	−9	36
Cash paid for interest	2	514,000	152,000	1	2
Cash paid for income taxes	12	8	4	2	6
Change in accounts payable related to fixed assets	384,000	−548,000	−621,000	—	−849,000

Filings

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