Washington May 9 2025: IBEX Limited (“ibex”), a leading provider in global business process outsourcing and end-to-end customer engagement technology solutions share price surge 18.9 percent after posting record profits for its third fiscal quarter ended March 31, 2025.
Revenue of the company recorded at USD140.7 million, an increase of 11.0 percent from USD 126.8 million in the prior year quarter. Growth was driven in our top three verticals; HealthTech (+20.0 percent), Travel, Transportation and Logistics (+18.7 percent ), and Retail & E-commerce (+14.6 percent), along with growth in the digital acquisition business.
Net income increased slightly to USD 10.5 million compared to USD 10.3 million in the prior year quarter. Net income was favorably impacted by an increase in gross margin as a result of the impact of revenue growth particularly in our higher margin offshore regions, offset by increases in selling, general, and administrative, interest, and income tax expenses.
“Marking the continuation of a strong first half for fiscal year 2025, I am proud to report yet another quarter of record financial results,” said Bob Dechant, ibex CEO. “Ibex returned to double-digit top-line revenue growth with 11%, our highest rate in ten quarters. Our growth continues to be driven by outstanding performance within our embedded base clients, new client wins, and our ability to drive innovative AI solutions across our clients. I am excited to report that our new logo team performed extremely well with four signature wins in the quarter for a total of 12 year to date. Importantly, we achieved a major strategic milestone in the quarter with the seamless launch for a leading Healthcare company in our newest location, India. Operating in this key location has been a strategic priority for our company and further enhances our client delivery options.”
“With the strength and trajectory of our business, we are raising guidance for both revenue and adjusted EBITDA, as well as announcing a newly authorized share repurchase plan, reflecting the board of directors’ and management’s confidence in ibex,” added Dechant.
The board of directors (the “Board”) has authorized a share repurchase plan to commence May 12, 2025 under which the Company may repurchase up to USD 15 million of its shares over the next 12 months (the “Share Repurchase Plan”).
The Company’s proposed repurchases may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on the market conditions and in accordance with applicable rules and regulations. The actual timing, number, and dollar amount of repurchase transactions will be subject to Rule 10b-18 and/or Rule 10b5-1 under the Securities Exchange Act of 1934.
The Board will review the Share Repurchase Plan periodically and may authorize adjustment of its terms and size or suspend or discontinue the plan. The Company expects to fund the repurchases under this plan with its existing cash balance.
The Share Repurchase Plan does not obligate the Company to acquire any particular amount of common shares, and the plan may be suspended or discontinued at any time at the Company’s discretion.
