IBEX Limited Posts Stellar Q4 and Year-End Financials

Record Financial Milestones Achieved by IBEX Limited

IBEX Limited has announced remarkable financial results for the fourth quarter and fiscal year, highlighting a series of significant achievements. The company has marked unprecedented growth in net income, earnings per share (EPS), adjusted net income, adjusted EPS, and free cash flow. Additionally, IBEX managed to secure 18 new client relationships over the year, a significant increase compared to the previous year.

Overview of Financial Performance

In an exciting update, IBEX Limited reported a robust revenue of $124.5 million for the fourth quarter, showcasing a slight growth from the previous year's comparable quarter. Growth was attributed to positive trends in Retail and E-commerce, Travel, Transportation, and HealthTech sectors, although some declines in FinTech, Telecommunications, and Technology were noted.

Gross and Net Income Insights

The net income for the quarter surged to $9.8 million, a remarkable increase from $4.5 million in the prior year, showcasing impressive operating performance improvement. This growth can be linked to enhanced gross margin performance coupled with strategic cost optimization efforts.

Earnings per Share Performance

In terms of earnings per share, diluted EPS rose to $0.56, significantly up from $0.24 in the previous year, thanks in part to a reduction in the number of diluted shares outstanding and lower tax expenses.

Adjusted EBITDA and Margin Evaluation

Adjusted EBITDA showed a remarkable increase reaching $17.9 million, which is up from last year's $15.4 million, representing a strong adjusted EBITDA margin of 14.4%, up from 12.4% the previous year.

Fiscal Year 2024 Financial Results

For the entire fiscal year 2024, IBEX Limited recorded total revenue of $508.6 million, marking a 2.8% decline from $523.1 million in the previous year. This decline was primarily attributed to shifts in specific verticals and the company's strategic shift towards more profitable offshore and nearshore services.

Significant Net Income Increase

The fiscal year net income soared to $33.7 million, up from $31.6 million in the previous year, with diluted EPS increasing to $1.84 from $1.67. Such results underscore the company’s efficient strategies in delivering value while maintaining operational excellence.

Cash Flow and Balance Sheet Strength

IBEX Limited’s free cash flow for the year increased to $27 million. The cash and equivalents position improved significantly, reaching $62.7 million at the end of the fiscal year. This strong cash position enables the company to continue investing in infrastructure and advanced technological capabilities.

Outlook for Fiscal Year 2025

Looking ahead, IBEX Limited anticipates revenues in the range of $510 to $525 million and adjusted EBITDA between $67 and $69 million for fiscal year 2025. The first-quarter revenue is expected to fall between $124 million and $126 million, further solidifying their ongoing business momentum.

Strategic Position and Market Confidence

IBEX Limited continues to position itself as a leader in customer engagement technology solutions, and the outlook for fiscal year 2025 is positive, showing confidence in sustaining their growth trajectory. The recorded achievements in key operational metrics suggest a firm footing moving forward into new opportunities.

Frequently Asked Questions

1. What were the major financial achievements for IBEX in Q4 2024?

IBEX reported record net income, EPS, and adjusted earnings, with substantial increases in revenue driven by new client acquisitions.

2. How much did IBEX spend on share repurchases?

During fiscal year 2024, IBEX repurchased 1.3 million shares at a total cost of $21.7 million, enhancing shareholder value.

3. What is the future revenue forecast for IBEX?

For fiscal year 2025, IBEX expects revenue in the range of $510 to $525 million, indicating a positive growth outlook.

4. How did adjusted EBITDA perform during the fiscal year?

Adjusted EBITDA increased to $65.2 million even though total revenue faced a slight decrease, showcasing effective cost management.

5. Who can be contacted for investor relations concerns regarding IBEX?

For inquiries, investors can reach out to Michael Darwal, EVP of Investor Relations at IBEX, via email at michael.darwal@ibex.co.

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