Business
IBEX Limited Announces Strong Second Quarter of Fiscal Year 2023 Financial Results with Accelerating Adjusted EBITDA, Strong Revenue Growth and Cash Flow; Raises Adjusted EBITDA Guidance
Key Highlights Second quarter revenue increased 5.5% to $139.4 million over the prior year quarter.Revenue generated from BPO 2.0 clients grew 16.9% compared
About this update from Ibex Limited
[{"type":"text","content":"Key Highlights Second quarter revenue increased 5.5% to $139.4 million over the prior year quarter.Revenue generated from BPO 2.0 clients grew 16.9% compared to the prior year quarter and represented 77.3% of total revenue in the second quarter.Second quarter net income and net income margin decreased to $1.9 million and 1.3%, respectively, compared to $8.5 million and 6.4%, respectively, in the prior year quarter. The decrease was primarily the result of the revaluation of share warrants driven by the improvement in the stock price.Adjusted net income and adjusted net income margin increased to $11.7 million and 8.4%, respectively, compared to $5.2 million and 3.9%, respectively, in the prior year quarter.Second quarter non-GAAP adjusted EBITDA increased 40.5% to $25.1 million over the prior year quarter.Second quarter non-GAAP adjusted EBITDA margin increased to 18.0%, compared to 13.5% in the prior year quarter.Net cash flow from operations in the second quarter increased to $8.3 million, compared to $3.4 million in the prior year quarter.Fully diluted earnings per share was $0.10, compared to $0.45 in the prior year quarter.Adjusted earnings per share increased to $0.62, compared to $0.27 in the prior year quarter. WASHINGTON, Feb. 15, 2023 (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 second quarter ended December 31, 2022. “We delivered on a tremendous second quarter of fiscal year 2023. Driven by our strategic decision to aggressively expand capacity in our high margin regions and exit a low margin tenured client, our adjusted EBITDA and adjusted EBITDA margin both soared to record levels this past quarter. Adjusted EBITDA margin is up 450 basis points to 18%, and adjusted EBITDA is up 40% to $25.1 million,” said Bob Dechant, CEO of ibex. “Additionally, revenue continues to grow, fueled by an enviable client list comprised of both elite blue-chip and leading new economy clients. Despite trying market conditions, our powerful New Logo sales engine continues to deliver outstanding results. Looking ahead, I am very excited about the trajectory of our business.” Second Quarter of Fiscal Year 2023 HighlightsBusiness Highlights Won 4 new logos across key verticals in the quart...