IBEX
IBEX Limited37.87
+0.74+1.99%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
FY Q2 '26
Q&A clarifies AI benefits, margin headwinds
Q&A largely reaffirmed the prepared remarks' strong growth story but added color on key drivers. CEO Bob Dechant detailed how AI leadership secures trophy wins, boosts daily execution for 20% top-10 client growth, and enables unique seamless AI-human journeys—akin to an integrated supply chain. He flagged shifting vertical mix flattening retail-driven seasonality for steadier quarters ahead. CFO Taylor pinned YoY gross margin softness on deferred training revenue and India ramp costs, yet stressed high-margin vectors ensure long-term gains. AI widens the gap. Management exuded confidence; investors will track margin normalization and AI traction.
Last Quarter (Q3 '25)
FY Q1 '26
AI edge detailed; margins explained
Q&A largely reaffirmed the scripted beat-and-raise story, with Bob Dechant emphasizing IBEX's aggressive AI lean-in—internal tools and CX automation—outpacing hesitant peers for a clear moat. He pegged material revenue impact by FY26 end into FY27. Taylor pinned Q1 gross margin softness on India ramps and upfront training costs from new wins, offset by SG&A leverage lifting full-year EBITDA margins to 13%. AI separates us. Management stayed bullish on offshore growth and fintech inflection, brushing aside no major concerns. Investors will eye AI's needle-moving proof.
Key Stats
Market Cap
510.00MP/E (TTM)
13.77Basic EPS (TTM)
2.75Dividend Yield
0%Recent Filings
10-Q
Q2 FY2026 results
IBEX crushed Q2 FY2026 ended December 31, 2025, with revenue jumping 16.7% y/y to $164.2M on HealthTech and digital ramps, while offshore mix drove operating income up 28.2% y/y to $15.3M (9.3% margin, from 8.5%). YTD revenue rose 16.6% y/y to $315.4M, operating income 37.9% y/y to $29.0M, diluted EPS $1.65 (reconciles to $24.3M net income over 14.7M shares). Cash flow from operations hit $22.3M YTD, less $19.4M capex for $2.9M FCF; $15.5M cash offsets $1.4M finance leases, with $67.3M revolver available (in covenant compliance). Share repurchases trimmed shares outstanding. Client insourcing trends pose risks.
8-K
Record Q2 revenue, raised guidance
8-K
Ibex appoints Keen to board
Ibex Limited appointed Shuja Keen to its Board on December 19, 2025, filling a vacancy with his prior service through 2024 and expertise in AI, CX operations, and capital markets. John Jones became Chair, while Mingzhe Zhuang took Lead Independent Director and Corporate Governance Committee Chair roles. Keen rejoins. These shifts strengthen governance amid shareholder input.
8-K
Shareholders approve directors, plan
IBEX shareholders approved setting directors at eight max, elected seven nominees including Daniella Ballou-Aares and Karen Batungbacal at the December 5 annual meeting, and ratified Deloitte as auditor. Director nominee Mohammed Khaishgi withdrew December 4 for personal reasons, leaving a board vacancy. All proposals passed decisively.
8-K
IBEX forms Nominating Committee
IBEX Limited formalized its Nominating Committee on November 20, 2025, appointing independent directors Daniella Ballou-Aares (Chair), Karen Batungbacal, Fiona Beck, Patrick McGinnis, and Mingzhe (JJ) Zhuang. This addresses proxy advisor concerns from ISS and Glass Lewis. Committee ratified prior nominations for the December 5 annual meeting. Board unanimously recommends voting for all nominees.
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