IBEX Ltd Earnings Per Share Disclosure
| Year ended June 30, | |||||||||||||||||
| (000s) | 2025 | 2024 | 2023 | ||||||||||||||
| Shares used in basic earnings per share calculation | 14,678 | 17,704 | 18,200 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Employee stock-based compensation | 218 | 81 | 199 | ||||||||||||||
| Warrant | 652 | 470 | 495 | ||||||||||||||
| TRG Conversion | 177 | — | — | ||||||||||||||
| Total effects of dilutive securities | 1,047 | 551 | 694 | ||||||||||||||
| Shares used in dilutive earnings per share calculation | 15,725 | 18,255 | 18,893 | ||||||||||||||
| Shares considered anti-dilutive using the treasury method | (209) | (549) | (367) | ||||||||||||||
| Year ended June 30, | |||||||||||||||||
| ($000s) | 2025 | 2024 | 2023 | ||||||||||||||
| Net income | $ | 36,864 | $ | 33,655 | $ | 31,582 | |||||||||||
| Convertible debt - interest expense, net of tax | 178 | — | — | ||||||||||||||
| Numerator for diluted EPS | $ | 37,042 | $ | 33,655 | $ | 31,582 | |||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.