Slide 1: ibex Q3 FY2022 Earnings Call
Built for what’s next. ibex Q3 FY2022 Earnings Call May 18, 2022
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 and Litigation Reform Act of 1995. All statements contained in this pr
Slide 3: Bob Dechant, CEO
Built for what’s next. Bob Dechant CEO
Slide 4: ibex Today: Q3 FY2022 Results
ibex Today: Q3 FY2022 Results Strong LTM Results Q3 FY2022 Results $478.7m $63.9m Revenue (LTM) Adj EBITDA (LTM) $129.1m Record Revenue: 9.9% 13.4% Revenue Growth (LTM) Adj. EBITDA Margin (LTM) ~19% YoY Q3 Revenue Growth 10-12% $69-71m Full Year Guidance Full Year Adj EBITDA Guidance $18.8m Adj. EBI
Slide 5: Powerful Growth with our BPO 2.0 Clients
Powerful Growth with our BPO 2.0 Clients (New Clients since FY16) $350 Revenue Breakdown ($m) New clients won since FY16 $300 • 60% growth in Q3’22 $250 FY16 fro m • 70% of Total ew R in N $200 C AG Revenues ( E) 78% $150 • Digitally Focused $100 Brands $50 • Integrated Omni- Channel Support $- FY16
Slide 6: New Logo Engine: Strong Performance Winning Great Brands
New Logo Engine: Strong Performance Winning Great Brands Client Cohort Performance: New Client Cohort Data ($m) FY16-FY22 $140 • 7 New Logo Wins in the Year 1 Year 2 Year 3 Quarter $120 • 19 New Logo Wins Year to Date $100 • 2 Significant wins in $80 Healthcare • FinTech and HealthTech 100% $60 Grow
Slide 7: Diverse Base of Elite Clients by Revenue
Diverse Base of Elite Clients by Revenue FinTech and HealthTech: ~50 Clients $100m Est FY22 Q3’22 Client Statistics (% of Revenue) with > $1m in Annual Revenue (+100%) YoY #1 #1 #1 #1 Top 5 Clients 39% Cloud Based Millennial Trading Food Global Restaurant Tech App Delivery Company Top 10 Clients 56%
Slide 8: Adjusted EBITDA Margins Comparisons & FCF
Adjusted EBITDA Margins Comparisons & FCF Q3 Adjusted EBITDA ($m) • Partnering with clients on Price Increase and $20 COLA to offset Wage Inflation pressures $18.8m $17.8m $18 • Adjusted EBITDA Margin increase to 14.6% $16.7m from 13.5% in Q2 FY22 and $2.1m higher from $16 Q3 FY21 $14 • Adjusted EBI
Slide 9: Capital Allocation
Capital Allocation Site Expansion Internal $20m Share Opportunistic <2-Year Reinvestment Repurchase M&A Payback Period Opportunities Authorization Flexible, pragmatic, and opportunistic capital allocation mindset Supported by Net Cash on Balance Sheet 9
Slide 10: Summary & Guidance
Summary & Guidance Revenue Growth Accelerating 70% 19% Q3 of our business is growing at a high double-digit rate 13% Q2 Removing 10-12% Organic Full Year Revenue Growth Social Distancing Significant Capacity Available $69-71m of Adjusted EBITDA $30-35m of Capex 10
Slide 11: Financial Results, Karl Gabel CFO
Built for what’s next. Financial Results Karl Gabel CFO
Slide 12: FY Q3 2022: Financial Highlights
FY Q3 2022: Financial Highlights Revenue $129.1m Driven by Fintech, HealthTech, and Retail and Ecommerce verticals +18.6% YoY New From FY16 Client Revenue Represents 70% of the total revenue (52% in Q3 FY21) +60% YoY Trajectory to continue into FY23 as a result of organic demand decline Legacy Top 3
Slide 13: FY Q3 2022: Financial Highlights – Non-GAAP
FY Q3 2022: Financial Highlights – Non-GAAP Adjusted Net Income Q3 Adjusted EBITDA $20.0 $10.7m $18.8m Q3 FY21 $6.0m $19.0 +77% YoY Increase primarily driven by stronger $18.0 operating results and a deferred tax $16.7m Adjusted Fully Diluted benefit recognized in the current $17.0 Earning per Share
Slide 14: Winning in Strategic Verticals
Winning in Strategic Verticals Significant Growth in All Key Verticals Telco Concentration under 20% 17.1% 14.7% 16.9% Telecommunications Technology Technology 29.2% Telecommunications 10.8% Travel, Transportation Q3 Q3 and Logistics FY22 FY21 20.3% 18.1% Retail & 8.9% Retail & E-commerce Travel, E-
Slide 15: FY Q3 2022: Cash Flow and CAPEX
FY Q3 2022: Cash Flow and CAPEX Capital Expenditures $6.1m, 4.7% of Revenue Capital Expenditure approx. flat year over year (Q3 FY21 $6.3m, 5.8% of Revenue) Net Cash Generated from Operations $12.0m Impacted by higher working capital usage partially offset by Q3 FY21 $13.9m stronger operating result
Slide 16: FY Q3 2022: Balance Sheet
FY Q3 2022: Balance Sheet Cash and Cash Equivalents $41.5m Balance Sheet remains strong (June 30, 2021 $57.8m) Borrowing and Lease Liabilities Borrowings $27.4m ($28.5m as of June 30, 2021) $117.9m Lease liabilities $90.6m ($84.0m as of June 30, 2021) (June 30, 2021 $112.5m) 16
Slide 17: Investment Thesis
Investment Thesis Compelling Vision Large TAM & Track-Record & Strong Financials Capital Allocation Competitive Moats Transformation • Mission-critical, • $100B TAM supported • New client base now • Continued double- • Less than 2-year omnichannel customer by growing CX represents 70% of digit growt
Slide 18: Q&A
Built for what’s next. Q&A
Slide 19: Appendix
Built for what’s next. Appendix
Slide 20: Reconciliation of Net Income/(Loss) to Adjusted Net Income
Reconciliation of Net Income/(Loss) to Adjusted Net Income Three months Nine months ended ended March 31 March 31 Primarily represents the COVID-19 transportation A US$ in thousands, except share and per share amounts 2022 2021 2022 2021 related expenses Net income/ (loss) $ 6,598 $ (245) $ 18,077 $
Slide 21: Reconciliation of Net Income /(Loss) to Adjusted EBITDA
Reconciliation of Net Income /(Loss) to Adjusted EBITDA Three months Nine months ended ended March 31 March 31 Primarily represents the COVID-19 transportation related A US$ in thousands 2022 2021 2022 2021 expenses Net income / (loss) $ 6,598 $ (245) $ 18,077 $ (1,180) Represents the amortization o