Slide 1: ibex Q1 FY2024 Earnings Call
Built for what’s next. ibex Q1 FY2024 Earnings Call Bob Dechant, CEO & Taylor Greenwald, CFO November 09, 2023
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: Q1 FY2024 Compelling Track Record of Transformation and Execution
Q1 FY2024 Compelling Track Record of Transformation and Execution • 7 Consecutive quarters of Adjusted EBITDA growth YoY Strong EBITDA Growth • 5 Consecutive quarters of Adjusted EBITDA Margin expansion YoY Favorable Net Cash • More than double net cash position vs $28.2m Position as of June 2021 $6
Slide 4: Q1 FY2024 Results & Highlights
Q1 FY2024 Results & Highlights Strong Results Throughout the P&L $124.6m $13.7m $7.6m Revenue Adj. EBITDA Adj. Net Income $67.4m 11.0% $6.6m TTM Adj EBITDA Adj. EBITDA Margin FCF 31% 6% $0.40 TTM Adj. EBITDA Growth Adj. EBITDA Growth Adj. EPS (YoY) (YoY) 4
Slide 5: New Logo Engine: Strong Performance Winning Great Brands
New Logo Engine: Strong Performance Winning Great Brands Client Cohort New Client Cohort Data ($m) FY19-FY23 Performance $100 Year 1 Year 2 Year 3 • Strong Pipeline with high profile $90 clients across key verticals $80 • ~ $35m of new logo revenue in FY23 o 10 new logos $70 • Four new logos won in
Slide 6: Powerful Land & Expand with our Digital First Clients
Powerful Land & Expand with our Digital First Clients Leading Blue-Chips & Digital and Revenue Breakdown ($m) Analytics-First Brands $450 $400 • 77% Digital & Integrated Omni- $350 lie nts Channel up from 71% C O 2.0 • 75% of total revenue in High margin P ur B $300 in o Nearshore and Offshore regio
Slide 7: Generative AI – the Next Wave of Wave X
Generative AI – “the Next Wave” of Wave X AI-Powered Tech Stack AI across Agent Lifecycle AI Driven Insights Digital Customer Experience Productivity Boost Quality Boost Volume Boost • Agent Assist • Quality Assurance on 100% • Human live Voice Bot and • AI Based Agent Training of Interactions Chat
Slide 8: Capital Allocations
Capital Allocations Infrastructure positioned • Upgrading ERP & HCM systems for continued growth • 419,136 shares Share Repurchase* * As of November 8, 2023 • Totaling $6.7m Further expansion into • Offshore higher margin regions • New Geographies • Enhancing our solutions & competitive moat Targete
Slide 9: Financial Results
Built for what’s next. Financial Results Taylor Greenwald CFO
Slide 10: Q1 FY2024: Financial Highlights – US GAAP
Q1 FY2024: Financial Highlights – US GAAP • Digital and Omni-Channel delivery represent 77% of total revenue Revenue (71% in Q1 FY23) $124.6m • Shift in Geo Mix and decline in FinTech vertical -2.5% YoY • Growth in our strategic HealthTech and Retail & E-commerce verticals Net Income $7.4m Q1 FY24 S
Slide 11: Q1 FY2024: Financial Highlights – Non-GAAP
Q1 FY2024: Financial Highlights – Non-GAAP Q1 Adjusted EBITDA $15.0 Adjusted EBITDA $14.5 $13.7m Q1 FY24 +6.2% YoY Stronger operating results driven $14.0 % +6 $13.7m by improved capacity utilization $13.5 $13.0 $12.9m Increased revenue from higher margin regions from 70% of total $12.5 Adjusted Net
Slide 12: Revenue: Model Client Diversification
Revenue: Model Client Diversification Q1 FY24 Client Statistics (% of Revenue) Top 5 Clients 39.9% 59.4% Top 10 Clients Top 25 Clients 83.2% 12.2% Largest Client 12
Slide 13: Winning in Strategic Verticals
Winning in Strategic Verticals Continued Growth in HealthTech and Retail & E-commerce 8.3% 9.0% 16.8% Technology 17.3% Technology Telecommunications Telecommunications 23.4% 21.3% 13.5% Retail & Q1 13.0% Q1 Retail & Travel, E-commerce E-commerce Transportation Travel, and Logistics Transportation FY
Slide 14: Q1 FY 2024: Cash Flow and CapEx
Q1 FY 2024: Cash Flow and CapEx Net Cash Generated from Capital Expenditures Operations $2.1m, 1.6% of Revenue Q1 FY24 $8.7m Q1 FY24 $3.6m, 2.8% of Revenue Q1 FY23 $5.6m Q1 FY23 DSO Non-GAAP Free Cash Flow 67 days Q1 FY24 $6.6m Q1 FY24 63 days Q4 FY23 $2.0m Q1 FY23 59 days Q1 FY23 14
Slide 15: September 2023 Balance Sheet
September 2023 Balance Sheet Cash and Cash Equivalents • Increase in borrowing availability under our $62.0m revolving credit facilities to $72.6m as of June 30, 2023: $57.4m September 2023 v. $71.9m as of June 2023 Total Debt • Net Cash position at September Quarter end ~ $1.0m improved to $61.1 mi
Slide 16: Reaffirming Full Year Guidance
Reaffirming Full Year Guidance FY24 Revenue $525-535m Adj. EBITDA ~13% Margin CapEx $15-20m • Macro-economic environment pressuring client volumes • Continue trend toward offshoring/nearshoring • Efficient use of CapEx • Investments in Sales & Marketing, Infrastructure, Compliance 16
Slide 17: Q&A
Built for what’s next. Q&A
Slide 18: Appendix
Built for what’s next. Appendix
Slide 19: Most Awarded BPO 2.0 Provider
Most Awarded BPO 2.0 Provider 2023 America’s Greatest 2023 Customer 2023 & 2024 Philippines 2023 Most Innovative 2023 Female Executive of Workplaces for Parents & Experience Innovation Best Employers Company the Year - Julie Casteel Families Awards - Wave X 2022 Top Exporter Award 2022 & 2023 Contac
Slide 20: Differentiation with Technology & Analytics
Differentiation with Technology & Analytics Wave X Wave X Insights Purpose-built technology to Advanced Analytics to outperform provide customer insights 400+ 250+ Experienced IT Professionals Data and Business Analysts 16 70+ Technology Platforms CX & Cost Optimization Supported Case Studies 50+ 90
Slide 21: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income Three months ended Twelve months ended 30-September 30-Jun US$ in thousands, except per share amounts, unaudited 2023 2022 2023 2022 Represents US GAAP transition expense, severance Net income $ 7,425 $ 6,523 $ 31,582 $ 21,456 A expense, legal and
Slide 22: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three months ended Twelve months ended 30-September 30-Jun US$ in thousands 2023 2022 2023 2022 Net income $ 7,425 $ 6,523 $ 31,582 $ 21,456 Represents US GAAP transition expense, severance Interest expense 104 148 792 1,289 A expense, legal and settle
Slide 23: FY23 by Quarter: Income Statement
FY23 by Quarter: Income Statement 23
Slide 24: Reconciliation of FY23 by Quarter: Net Income to Adjusted Net Income
Reconciliation of FY23 by Quarter: Net Income to Adjusted Net Income 24
Slide 25: Reconciliation of FY23 by Quarter: Net Income to Adjusted EBITDA
Reconciliation of FY23 by Quarter: Net Income to Adjusted EBITDA 25