Business
IBEX Announces Record Fourth Quarter and Fiscal Year 2024 Financial Results
Record full-year Net Income, EPS, Adjusted Net Income, Adjusted EPS, and Free Cash Flow18 new client relationships won primarily with retail, healthcare, and
About this update from Ibex Limited
[{"type":"text","content":"Record full-year Net Income, EPS, Adjusted Net Income, Adjusted EPS, and Free Cash Flow18 new client relationships won primarily with retail, healthcare, and gaming companies, compared to 10 in the prior yearRepurchased 1.3 million shares at a total cost of $21.7 million during fiscal year 2024, representing 7.8% of our shares outstanding at June 30, 2024 WASHINGTON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- IBEX Limited (“ibex”), a leading provider in global business process outsourcing and end-to-end customer engagement technology solutions, today announced financial results for its fourth quarter and fiscal year ended June 30, 2024. ($ millions, except per share amounts)Three months endedJune 30, Twelve months endedJune 30, 2024 2023 Change 2024 2023 ChangeRevenue$124.5 $124.4 0.1% $508.6 $523.1 (2.8)%Net income$9.8 $4.5 118.3% $33.7 $31.6 6.6%Net income margin 7.9% 3.6% 430 bps 6.6% 6.0% 60 bpsAdjusted net income (1)$10.2 $6.2 63.7% $38.4 $36.9 3.8%Adjusted net income margin (1) 8.2% 5.0% 320 bps 7.5% 7.1% 40 bpsAdjusted EBITDA (1)$17.9 $15.4 16.1% $65.2 $66.6 (2.1)%Adjusted EBITDA margin (1) 14.4% 12.4% 200 bps 12.8% 12.7% 10 bpsEarnings per share - diluted$0.56 $0.24 133.3% $1.84 $1.67 10.2%Adjusted earnings per share - diluted (1)$0.58 $0.33 75.8% $2.10 $1.96 7.1% (1)See accompanying Exhibits for the reconciliation of each non-GAAP measure to its most directly comparable GAAP measure. “We achieved record results across key financial metrics including full year net income, EPS, adjusted net income, adjusted EPS, and free cash flow, and had a strong fourth quarter that exceeded our expectations,” said Bob Dechant, ibex CEO. “Our revenues for the fourth quarter were encouraging, and we are happy to report that we pivoted back to year-on-year growth,” said Dechant. “Our new logo engine continued to win signature new clients with three wins in the quarter including a leading gaming company. These wins total 18 for the year highlighting our differentiation and our ability to take on and beat our much larger competition. Our pipeline for customer facing AI led solutions continues to expand and position us well as we move into FY25. ibex AI solutions complement our agent-led BPO services with AI voice and chat bots for high-volume low-complexity contacts. I am excited to announce that we closed our first significant customer-facing AI o...