IBEX Ltd. Files 2024 10-K Report

TL;DR

IBEX Ltd. filed its 2024 10-K. Financials and operations for FY ending June 30, 2024, are detailed.

AI Summary

IBEX Ltd. filed its 2024 10-K report, detailing its fiscal year ending June 30, 2024. The company, previously known as IBEX Holdings Ltd., operates in the services sector, specifically computer processing and data preparation. Its principal executive offices are located at 1717 Pennsylvania Avenue NW, Suite 825, Washington, DC.

Why It Matters

This filing provides a comprehensive overview of IBEX Ltd.'s financial performance and operational status for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high or medium risk level.

Key Players & Entities

• IBEX Ltd. (company) — Filer of the 10-K report
• IBEX Holdings Ltd. (company) — Former name of IBEX Ltd.
• 20240630 (date) — Conformed period of report
• 20240912 (date) — Filed as of date
• 1717 Pennsylvania Avenue NW, Suite 825, Washington, DC 20006 (location) — Business and mail address

FAQ

Key Financial Figures

• $0.0001 — Registered Common shares, par value of $0.0001 IBEX Nasdaq Global Market Securities

Filing Documents

• ibex-20240630.htm (10-K) — 1963KB
• exhibit10262ndamendmentto2.htm (EX-10.26) — 22KB
• exhibit1038executivesepara.htm (EX-10.38) — 42KB
• exhibit1039contractoragree.htm (EX-10.39) — 44KB
• exhibit1040restatedexecuti.htm (EX-10.40) — 130KB
• exhibit1041formofofficerin.htm (EX-10.41) — 64KB
• exhibit1042firstamendmentt.htm (EX-10.42) — 15KB
• exhibit211listofsubsidiari.htm (EX-21.1) — 22KB
• exhibit231consentofdeloitt.htm (EX-23.1) — 2KB
• exhibit311certificationbyt.htm (EX-31.1) — 11KB
• exhibit312certificationbyt.htm (EX-31.2) — 11KB
• exhibit321certificationoft.htm (EX-32.1) — 7KB
• exhibit97compensationrecou.htm (EX-97) — 10KB
• 0001720420-24-000042.txt ( ) — 10105KB
• ibex-20240630.xsd (EX-101.SCH) — 52KB
• ibex-20240630_cal.xml (EX-101.CAL) — 103KB
• ibex-20240630_def.xml (EX-101.DEF) — 247KB
• ibex-20240630_lab.xml (EX-101.LAB) — 795KB
• ibex-20240630_pre.xml (EX-101.PRE) — 560KB
• ibex-20240630_htm.xml (XML) — 1459KB

BUSINESS

BUSINESS 7 ITEM 1A.

RISK FACTORS

RISK FACTORS 20 ITEM 1B. UNRESOLVED STAFF COMMENTS 41

C

ITEM 1 C . CYBERSECURITY 41 ITEM 2.

PROPERTIES

PROPERTIES 42 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 43 ITEM 4. MINE SAFETY DISCLOSURES 43 PART II 43 ITEM 5. MARKET FOR R EGISTRANT 'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 43 ITEM 6. [RESERVED] 44 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 45 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 61 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 63 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 95 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 95 ITEM 9B. OTHER INFORMATION 96 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 96 PART III 96 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 96 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 97 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 97 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 97 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 97 PART IV 97 ITEM 15 EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 97 ITEM 16. FORM 10-K SUMMARY 102

SIGNATURES

SIGNATURES 103 3 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Form 10-K") contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995, relating to our operations, expected financial position, and other business matters that are based on our current expectations, assumptions, and projections with respect to the future, and are not a guarantee of performance. Forward-looking statements provide management's current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact . Forward-looking statements may include words such as "anticipate," "believe," "budgeted," "contemplate," "estimate," "expect," "forecast," "guidance," "may," "outlook," "plan," "projection," "should," "target," "will," "would" and other words, the negative forms of such words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that could cause our actual results, performance or achievements or industry results, to differ materially from historical results or any future results, performance or achievements expressed, suggested, or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements about: Our ability to attract new business and retain key clients; Our profitability based on our utilization, pricing and managing costs; The potential for our clients or potential clients to consolidate; Our clients deciding to enter into or further expand their insour

BUSINESS

ITEM 1. BUSINESS Company Overview ibex delivers innovative business process outsourcing ("BPO"), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage, and retain valuable customers. We combine our strong heritage of delivering leading customer experiences ("CX") operations, services and solutions that span omnichannel customer engagement and support, digital marketing and customer experience management to help our clients measure customer sentiment and deliver a superior CX to their end-customers. Leveraging our proprietary technology platform, company culture and operational excellence, ibex helps more than 135 clients create innovative and differentiated customer experiences to help increase loyalty, enhance brand awareness and drive revenue in an era of rapid change and digital transformation. Our Service Offerings The Company is an end-to-end provider of technology-enabled customer lifecycle experience ("CLX") solutions. Through the Company's integrated CLX platform, a comprehensive portfolio of solutions is offered to help optimize customer acquisition, engagement, expansion and experience for clients. The Company leverages sophisticated technology and proprietary analytics, in combination with its global footprint and BPO expertise, to protect and enhance clients' brands. Our Connect business lies at the core of our offerings and generates the majority of the Company's revenue. This business unit delivers differentiated customer service (assisting our clients' customers with information about our clients and their products or services), technical support (providing specialized teams to provide information, assistance and technical guidance to our clients' customers on a specific product or service), revenue generation (upselling and cross selling) and other value-added outsourced back office services (finance and accounting, marketing support, sales operations, and human r

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