Slide 1: ibex Q3 FY2024 Earnings Call
Built for what’s next. ibex Q3 FY2024 Earnings Call Bob Dechant, CEO May 09, 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 12.3% $1.85 Growth of Key Segments, Strong EBITDA, Net income, FCF, EPS TTM Adj. EBITDA TTM Adj. EPS Transformation to a leading Digital First business 5% 78% Continue growth in our Digital First integrated omni-channel
Slide 4: Q3 FY2024: Financial Highlights
Q3 FY2024: Financial Highlights • Revenues: $126.8m Strongest EBITDA Margin and EPS in History • Adjusted EBITDA: $19.2m - 15.1% (record EBITDA margin) • Adjusted EPS: $0.70 (record EPS) • Digital First/ Integrated Omni Channel up to 78% from 73% Q3 FY23 Continued Progress on Expansion of our • Offs
Slide 5: Financial Results
Built for what’s next. Financial Results Taylor Greenwald CFO
Slide 6: Q3 FY2024: Financial Highlights – US GAAP
Q3 FY2024: Financial Highlights – US GAAP • Digital and Omni-Channel delivery represent 78% of total revenue (73% in Q3 FY23) Revenue • Shift in Geo Mix - high margin regions represent 76% of total revenue (72% in Q3 FY23) $126.8m Q3 FY24 vs. • Decline in FinTech and Telecommunication verticals alon
Slide 7: Q3 FY2024: Financial Highlights – Non-GAAP
Q3 FY2024: Financial Highlights – Non-GAAP Q3 Y-Y Adjusted EBITDA Adjusted EBITDA and margin $20.0 15.5% $19.2m Q3 FY24 vs. $19.2m $18.8m $18.8m Q3 FY23 15.1% 15.3% Primarily driven by: Margin 15.1% $17.5 14.9% • Higher gross margin resulting from shift to higher margin offshore 14.7% region and ope
Slide 8: Revenue: Model Client Diversification
Revenue: Model Client Diversification Q3 FY24 Client Statistics (% of Revenue) Top 5 Clients 36.5% 54.0% Top 10 Clients Top 25 Clients 77.9% 12.5% Largest Client 60 clients > $1M in revenue per annum 8
Slide 9: Winning in Strategic Verticals
Winning in Strategic Verticals Continued Growth in HealthTech and Retail & E-commerce 8.7% 9.2% 14.0% Technology 16.2% Technology Telecommunications Telecommunications 24.9% 22.0% 13.1% Retail & Q3 10.7% Q3 Retail & Travel, E-commerce E-commerce Transportation Travel, and Logistics Transportation FY
Slide 10: Q3 FY 2024: Cash Flow and CapEx
Q3 FY 2024: Cash Flow and CapEx Net Cash Generated from Operations Capital Expenditures $11.4m Q3 FY24 $1.7m, 1.3% of Revenue Q3 FY24 $13.6m Q3 FY23 $3.7m, 2.8% of Revenue Q3 FY23 DSO Non-GAAP Free Cash Flow 74 days Q3 FY24 $9.7m Q3 FY24(+$2.1m H1 FY24) 73 days Q2 FY24 $9.8m Q3 FY23 (-$0.7m H1 FY23)
Slide 11: March 2024 Balance Sheet
March 2024 Balance Sheet Cash and Cash Equivalents • YTD Free Cash Flow $11.8m $50.7m • YTD share repurchases of $18.6m June 30, 2023, $57.4m • Q3 share repurchases of $8.1m Total Debt • Net Cash position of $49.3m from $56.4m as of ~$1.4m June 30, 2023 June 30, 2023, $1.0m 11
Slide 12: Full Year Guidance FY24
Full Year Guidance FY24 $505-510m Revenue ~12-13% Adj. EBITDA Margin $10-13m CapEx 12
Slide 13: Q&A
Built for what’s next. Q&A
Slide 14: Appendix
Built for what’s next. Appendix
Slide 15: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income Three months ended Nine months ended 31-March 31-March US$ in thousands, except per share amounts, unaudited 2024 2023 2024 2023 Net income $ 10,310 $ 11,279 $ 23,810 $ 27,072 Net income margin 8.1% 8.6% 6.2% 6.8% Severance 1,506 0 1,506 0 Non-recu
Slide 16: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three months ended Nine months ended 31-March 31-March US$ in thousands 2024 2023 2024 2023 Net income $ 10,310 $ 11,279 $ 23,810 $ 27,072 Net income margin 8.1% 8.6% 6.2% 6.8% Interest expense 124 105 339 552 Income tax expense /(benefit) 1,279 1,872
Slide 17: Most Awarded BPO 2.0 Provider
Most Awarded BPO 2.0 Provider 2024 Artificial Intelligence 2024 Customer 2023 Award for Women 2024 Best Employers for 2024 Gold Award Excellence Award for Experience Innovation Helping Women - Julie Diversity Top BPO Services Exporter Wave iX Award for Wave iX Casteel 2023 America’s Greatest 2022 &