Business
IBEX Limited Announces Third Quarter of Fiscal Year 2022 Financial Results
Key Highlights Revenue increased 18.6% over the prior year quarter to $129.1 million, representing a combined two-year growth of 28%Revenue generated from
About this update from Ibex Limited
[{"type":"text","content":"Key Highlights Revenue increased 18.6% over the prior year quarter to $129.1 million, representing a combined two-year growth of 28%Revenue generated from clients won since FY16 grew 60%, and now represents 70% of total revenuesNet income increased to $6.6 million, compared to $(0.2) million in the prior year quarterNet income margin increased to 5.1%, compared to (0.2)% in the prior year quarterFully diluted earnings per share increased to $0.35, compared to $(0.01) in the prior year quarterNon-GAAP adjusted EBITDA increased to $18.8 million, compared to $16.7 million in the prior year quarterNon-GAAP adjusted EBITDA margin was down slightly to 14.6% compared to 15.3% in the prior year quarter, primarily due to additional growth-related expenses incurred in the current quarterReaffirming guidance for fiscal year 2022 WASHINGTON, May 18, 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 third fiscal quarter ended March 31, 2022. “We delivered a strong third quarter with record year-over-year organic revenue growth of 19%, which accelerated from an impressive 13% revenue growth in Q2. Our growth was driven by integrated omnichannel solutions across both new and existing clients,” said Bob Dechant, CEO of ibex. “Over the last two years, revenue has grown at a combined 28% over the prior year period.” Dechant continued, “Our business has reached an inflection point, and we are very excited about our trajectory. Revenue from new customers won since FY16 grew by an impressive 60% on a year-over-year basis, which represents our strategic shift into the digital-first marketplace, and now represents 70% of total company revenue, up from 52% a year ago. Our FinTech and HealthTech business grew by over 100% over the prior year and now represents 25% of total revenues. Expanding into these verticals will insulate the business from the impact of seasonality seen with some of our other verticals and lead to further stability of the revenue base. These growth drivers significantly outpace the downward pressure from our legacy business. Our adjusted EBITDA margin improved sequentially this quarter and continues to experience short-term pressure as we ramp new clients and programs into our ne...