Slide 1: ibex Q2 FY2024 Earnings Call
Built for what’s next. ibex Q2 FY2024 Earnings Call Bob Dechant, CEO February 08, 2024
Slide 2: Disclaimer
Built for what’s next. Disclaimer This presentation includes forward-looking statements within the meaning of the Private Securities This presentation also contains estimates and other statistical data made by independent parties Litigation Reform Act of 1995. All statements contained in this presen
Slide 3: Compelling Track Record of Transformation and Execution
Compelling Track Record of Transformation and Execution Strong Financial Profile 12% $1.78 Growth of Key Segments, Strong EBITDA, Net income, FCF, EPS TTM Adj EBITDA TTM Adj. EPS Transformation to a leading Digital First & Analytics driven business 4% 80% Profitable Digital First BPO 2.0 Clients – l
Slide 4: Q2 FY2024: Business Highlights
Q2 FY2024: Business Highlights • 8 wins for Q2 FY24 Pipeline and New Logo Wins Accelerating • 12 Year to Date (versus 7 in prior year) •. Revenues: $132.6m down from $139.3m Q2FY23 • Adjusted EBITDA: $14.3m down from $19.4m Q2 FY23 Financials • $2.3m adverse impact to Revenue and EBITDA for Deferred
Slide 5: Financial Results
Built for what’s next. Financial Results Taylor Greenwald CFO
Slide 6: Q2 FY2024: Financial Highlights – US GAAP
Q2 FY2024: Financial Highlights – US GAAP • Digital and Omni -Channel delivery represent 79% of total revenue (73% in Q2 FY23) Revenue • Shift in Geo Mix - high margin regions represent 77% of total revenue (73% in Q2 FY23) $132.6m Q2 FY24 vs. • Decline in FinTech and Telecommunication verticals par
Slide 7: Q2 FY2024: Financial Highlights – Non-GAAP
Q2 FY2024: Financial Highlights – Non-GAAP Q2 Adjusted EBITDA $25.0 Adjusted EBITDA $14.3m Q2 FY24 vs. $20.0 $19.4m Q2 FY23 Impact primarily driven by: $19.4m • The accounting for deferred $15.0 training revenue of $2.3m $14.3m Adjusted Net Income $10.0 $8.0m Q2 FY24 vs. • Investments in our technol
Slide 8: Revenue: Model Client Diversification
Revenue: Model Client Diversification Q2 FY24 Client Statistics (% of Revenue) Top 5 Clients 41.2% 58.7% Top 10 Clients Top 25 Clients 81.7% 13.5% Largest Client 8
Slide 9: Winning in Strategic Verticals
Winning in Strategic Verticals Continued Growth in HealthTech and Retail & E-commerce 8.1% 8.8% 14.8% Technology 16.7% Technology Telecommunications Telecommunications 29.0% 26.9% 12.5% Retail & Q2 11.4% Q2 Retail & Travel, E-commerce E-commerce Transportation Travel, and Logistics Transportation FY
Slide 10: Q2 FY 2024: Cash Flow and CapEx
Q2 FY 2024: Cash Flow and CapEx Net Cash Generated from Operations Capital Expenditures -$1.6m Q2 FY24 $2.9m, 2.2% of Revenue Q2 FY24 $5.3m Q2 FY23 $7.9m, 5.7% of Revenue Q2 FY23 DSO Non-GAAP Free Cash Flow 73 days Q2 FY24 -$4.5m Q2 FY24(+$2.1m H1 FY24) 67 days Q1 FY24 -$2.7m Q2 FY23 (-$0.7m H1 FY23
Slide 11: December 2023 Balance Sheet
December 2023 Balance Sheet Cash and Cash Equivalents • Driven by share repurchases of $8.4m during the $49.0m quarter June 30, 2023, $57.4m Total Debt • Net Cash position of $48.0 million from $56.4 ~ $1.0m million as of June 30, 2023 June 30, 2023, $1.0m 11
Slide 12: Full Year Guidance FY24
Full Year Guidance FY24 Revenue $505-510m Adj. EBITDA ~12-13% Margin CapEx $15-20m 12
Slide 13: Q&A
Built for what’s next. Q&A
Slide 14: Appendix
Built for what’s next. Appendix
Slide 15: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income Three months ended Twelve months ended 31-December 30-Jun US$ in thousands, except per share amounts, unaudited 2023 2022 2023 2022 Represents US GAAP transition expense, severance Net income $ 6,075 $ 9,270 $ 31,582 $ 21,456 A expense, legal and s
Slide 16: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three months ended Twelve months ended 31-December 30-Jun US$ in thousands 2023 2022 2023 2022 Net income $ 6,075 $ 9,270 $ 31,582 $ 21,456 Represents US GAAP transition expense, severance Interest expense 111 300 792 1,289 A expense, legal and settlem
Slide 17: Most Awarded BPO 2.0 Provider
Most Awarded BPO 2.0 Provider 2023 Award for Women 2023 America’s Greatest 2022 & 2023 Customer 2023 & 2024 Philippines 2023 Most Innovative Helping Women - Julie Workplaces for Remote Experience Innovation Best Employers Company Casteel Work Award for wave X 2023 America’s Greatest 2022 Top Exporte