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IBEX

IBEX Limited

IBEX

IBEX Limited • NASDAQ
$35.19 ▲ 0.31% (+0.11)
Market Cap $473.91 M
52w High $42.99
52w Low $19.34
Dividend Yield 0%
P/E 12.8
Volume 17.17K
Outstanding Shares 13.47M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $151.179M ▲ $30.903M ▼ $12.042M ▲ 7.965% ▲ $0.9 ▲ $18.107M ▲
Q4-2025 $147.138M ▲ $34.004M ▲ $9.596M ▼ 6.522% ▼ $0.72 ▼ $16.539M ▼
Q3-2025 $140.736M ▲ $31.39M ▲ $10.469M ▲ 7.439% ▲ $0.79 ▲ $17.69M ▲
Q2-2025 $140.682M ▲ $29.992M ▼ $9.268M ▲ 6.588% ▲ $0.61 ▲ $16.525M ▲
Q1-2025 $129.717M $30.584M $7.531M 5.806% $0.45 $14.044M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $22.694M ▲ $283.857M ▲ $140.232M ▲ $143.625M ▲
Q4-2025 $15.35M ▲ $273.215M ▼ $138.906M ▼ $134.309M ▲
Q3-2025 $12.977M ▼ $274.731M ▲ $150.55M ▼ $124.181M ▲
Q2-2025 $20.206M ▼ $272.498M ▼ $163.561M ▲ $108.937M ▼
Q1-2025 $62.305M $306.275M $135.184M $171.091M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $12.042M ▼ $15.67M ▼ $-7.639M ▼ $-647K ▲ $7.344M ▲ $8.031M ▼
Q4-2025 $36.864M ▲ $27.937M ▲ $-5.159M ▲ $-20.234M ▼ $2.373M ▲ $22.778M ▲
Q3-2025 $10.469M ▲ $8.828M ▲ $-5.267M ▼ $-10.928M ▲ $-7.229M ▲ $3.561M ▲
Q2-2025 $9.268M ▲ $1.141M ▼ $-4.319M ▼ $-38.902M ▼ $-42.099M ▼ $-3.178M ▼
Q1-2025 $7.531M $7.762M $-3.63M $-4.596M $-415K $4.132M

Five-Year Company Overview

Income Statement

Income Statement IBEX shows a steady pattern of revenue growth over the past several years, with sales rising nearly every year rather than bouncing around. Profitability has improved as the business has scaled, with operating and net income both moving up over time instead of just flatlining. Margins look healthier than a few years ago, suggesting that the shift to more offshore delivery and tech‑enabled services is helping. Earnings per share have climbed meaningfully from very low levels after the IPO to more solid territory, indicating better efficiency and discipline. The main risk is that this is still a relatively low‑margin service business, so pressure on pricing or wages could quickly squeeze those gains if growth slows.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid for a mid‑size services company, with total assets fairly steady over the last few years rather than shrinking. Debt is present but not excessive, and it has been gradually nudged down from earlier levels, which reduces financial risk. Equity has grown compared with the early post‑IPO period, reflecting retained profits and a stronger capital base, though it dipped slightly most recently, which is worth watching. Cash levels are adequate but not abundant, so IBEX is not sitting on a big cash cushion, but it does not appear over‑stretched either. Overall, the company looks financially stable but not ultra‑conservative, leaving some room for investment yet still requiring careful cash management.

Cash Flow

Cash Flow IBEX generates consistent cash from its core operations, which is a positive sign that accounting profits are backed by real cash inflows. Operating cash flow has generally trended upward, tracking the improvement in earnings rather than diverging from it. Free cash flow has stayed positive and has gradually improved, even after funding regular investments in new sites, technology, and equipment. Capital spending looks disciplined: large enough to support growth and innovation, but not so heavy that it overwhelms cash generation. This pattern gives IBEX some flexibility to invest, reduce debt, or return capital, while still needing to avoid any sharp downturns that could quickly tighten liquidity.

Competitive Edge

Competitive Edge IBEX operates in a very crowded BPO and customer experience market but is trying to stand out by being more technology‑driven rather than just a low‑cost call center provider. Its “BPO 2.0” approach, anchored by the Wave X / Wave iX platforms, offers omnichannel engagement, analytics, and AI‑enabled tools that can make client relationships stickier and harder to replace. The company has shifted heavily to offshore and nearshore locations, gaining a cost advantage and better margins, though this also exposes it to labor, political, and currency risks in those countries. IBEX focuses on high‑growth, digital‑first clients in areas like tech, e‑commerce, HealthTech, and FinTech, which can boost growth but may increase exposure to economic cycles and volatility in those sectors. Strong client retention and deep integration into clients’ processes support a real moat, but competition from larger global players and fast‑moving niche specialists remains intense.

Innovation and R&D

Innovation and R&D IBEX is investing heavily in its own technology stack rather than relying only on third‑party tools, which is central to its differentiation. The Wave iX platform brings together AI‑driven analytics, sentiment tracking, automation, and agent‑assist tools, aiming to improve both client outcomes and internal efficiency. The company is pushing into AI‑powered routing, real‑time support, and richer data insights, and it has already received industry recognition for its AI‑driven customer experience offerings. Its move toward higher‑value services, such as more complex knowledge work and industry‑specific solutions, shows a focus on climbing the value chain instead of competing purely on price. The main risk is that the pace of AI and CX innovation is extremely fast, so IBEX must keep investing and executing well just to maintain its edge against bigger tech and outsourcing rivals.

Summary

IBEX appears to have transitioned from a traditional call‑center style business into a more tech‑enabled customer experience partner, with improving profitability and steady revenue growth to show for it. The financial profile is relatively healthy: a stable balance sheet, manageable debt, and recurring positive free cash flow, though the cash position is not lavish and leaves limited room for major missteps. Competitively, the company benefits from its proprietary platforms, offshore footprint, and focus on digital‑first, high‑growth clients, which together support a decent competitive moat. At the same time, it faces the usual pressures of the BPO industry—price competition, wage inflation, client concentration, and geopolitical risks in offshore markets. Future performance will largely depend on IBEX’s ability to keep advancing its AI and analytics capabilities, deepen and diversify client relationships, and sustain margin improvements while navigating these industry headwinds.

NEWS

November 6, 2025 · 4:05 PM UTC

IBEX Reports Record Start to Fiscal 2026, Raises Full Year Guidance

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October 23, 2025 · 4:15 PM UTC

IBEX Limited to Announce First Quarter 2026 Financial Results on November 6, 2025

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October 16, 2025 · 4:00 PM UTC

Authenticom Group Acquires iSKY's Automotive Experience Division from ibex Establishing Full-Stack CX and Connectivity Platform

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September 16, 2025 · 9:00 AM UTC

ibex Sponsors Execs In The Know Customer Response Summit in San Diego

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September 11, 2025 · 4:05 PM UTC

IBEX Reports Strongest Quarterly Growth Rate in Nearly 3 Years, Record Fiscal Year 2025 Financial Results, Introduces Fiscal Year 2026 Guidance

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