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Sep 30, 2023
IBEX Q1 2024 Earnings Report
IBEX's financial performance for Q1 2024 showed increased profitability and EPS, with revenue at the higher end of guidance.
Key Takeaways
IBEX Limited reported a net income increase to $7.4 million, with diluted earnings per share rising to $0.39. Revenue was $124.6 million. The company established four new client relationships and continued integrating generative AI and automation into its delivery platforms.
Revenue was $124.6 million, slightly below the prior year due to a shift to offshore regions.
Net income increased to $7.4 million, with net income margins increasing to 6.0%.
Adjusted EBITDA increased by 6.2% to $13.7 million, with an adjusted EBITDA margin of 11.0%.
The company repurchased 134,524 shares at a total cost of $2.0 million during the quarter.
IBEX
IBEX
Forward Guidance
IBEX reaffirmed its fiscal year 2024 guidance, expecting revenue between $525 to $535 million, an adjusted EBITDA margin of approximately 13%, and capital expenditures of $15 to $20 million.
Positive Outlook
- Client diversification
- Strategic vertical expansions
- Solid start to the year
- Confidence in execution
- Strength of sales pipeline