Business
IBEX Limited Announces Strong First Quarter of Fiscal Year 2023 Financial Results
Key Highlights First quarter revenue increased 17.8% to $127.9 million over the prior year quarter.Revenue generated from BPO 2.0 clients, those won since
About this update from Ibex Limited
[{"type":"text","content":"Key Highlights First quarter revenue increased 17.8% to $127.9 million over the prior year quarter.Revenue generated from BPO 2.0 clients, those won since fiscal year 2016, grew 44.3% and represented 76% of total revenue in the first quarter.First quarter net income and net income margin increased to $4.3 million and 3.4%, respectively, compared to $3.0 million and 2.8%, respectively, in the prior year quarter.First quarter non-GAAP adjusted EBITDA increased 59.1% to $18.2 million over the prior year quarter.First quarter non-GAAP adjusted EBITDA margin increased to 14.3%, compared to 10.6% in the prior year quarter.Net cash flow from operations in the first quarter increased to $8.8 million, compared to $6.9 million in the prior year quarter.Fully diluted earnings per share increased to $0.23, compared to $0.16 in the prior year quarter. Adjusted earnings per share increased to $0.34, compared to $0.05 in the prior year quarter. WASHINGTON, Nov. 15, 2022 (GLOBE NEWSWIRE) -- IBEX Limited (“ibex”), a leading global provider in business process outsourcing and end-to-end customer engagement technology solutions, today announced financial results for its first quarter ended September 30, 2022. “The first quarter of 2023 delivered the company’s best start to a fiscal year on record, highlighted by revenue growth of 17.8% year-over-year, EBITDA margins of 14.3%, strong net income, EPS, and free cash flow,” said Bob Dechant, CEO of ibex. “Ibex continues to execute, despite continued market volatility and global inflationary cost pressures. Our powerful new logo engine and ability to land and expand partnerships is driving client and vertical growth and diversification.” “Looking forward to the remainder of 2023, we are confident in the resiliency of our business, supported by the client diversification and strategic vertical expansions we’ve built over the preceding years. These efforts have our company well positioned in today’s market as we have less exposure to any one client or any one vertical. As a result of our strong start to the year, we are reiterating our prior guidance and remain confident in our brand and ability to continue to win business,” concluded Mr. Dechant. First Quarter of Fiscal Year 2023 HighlightsBusiness Highlights Won 3 new logos across key verticals and launched a total of 11 new clients in the quarter.The ...