IBEX Ltd Files 10-Q for Q2 FY2025

TL;DR

IBEX Ltd 10-Q filed. Q2 FY25 results out.

AI Summary

IBEX Ltd filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of fiscal year 2025. Key financial data and operational details for IBEX Ltd are presented in this report.

Why It Matters

This 10-Q filing provides investors with a crucial update on IBEX Ltd's financial performance and position as of the end of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• 2024-12-31 — Period End Date (The report covers financial information up to this date.)
• 2025-02-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• IBEX Ltd (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of reporting period
• 20250206 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ch registered Common shares, par value $0.0001 IBEX Nasdaq Global Market Indicate by

Filing Documents

• ibex-20241231.htm (10-Q) — 1251KB
• exhibit311certificationoft.htm (EX-31.1) — 11KB
• exhibit312certificationbyt.htm (EX-31.2) — 11KB
• exhibit321certificationoft.htm (EX-32.1) — 7KB
• 0001720420-25-000009.txt ( ) — 6725KB
• ibex-20241231.xsd (EX-101.SCH) — 39KB
• ibex-20241231_cal.xml (EX-101.CAL) — 75KB
• ibex-20241231_def.xml (EX-101.DEF) — 131KB
• ibex-20241231_lab.xml (EX-101.LAB) — 557KB
• ibex-20241231_pre.xml (EX-101.PRE) — 378KB
• ibex-20241231_htm.xml (XML) — 1085KB

Financial Statements

Financial Statements 2 Consolidated Balance Sheets (unaudited) 3 Consolidated Statements of Comprehensive Income (unaudited) 4 Consolidated Statements of Stockholders' Equity (unaudited) 5 Consolidated Statements of Cash Flows (unaudited) 7 Notes to the Consolidated Financial Statements (unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 40 PART II. OTHER INFORMATION 41 Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 43 Item 5. Other Information 43 Item 6. Exhibits 44

Signatures

Signatures 45 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q ("Form 10-Q") 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 insourcin

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 2 Table of Contents IBEX LIMITED AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) (in thousands, except share data) December 31, 2024 June 30, 2024 Assets Current assets Cash and cash equivalents $ 20,206 $ 62,720 Accounts receivable, net 120,581 98,366 Prepaid expenses 6,905 7,712 Due from related parties 317 192 Tax advances and receivables 8,968 9,080 Other current assets 2,039 1,888 Total current assets 159,016 179,958 Non-current assets Property and equipment, net 32,168 29,862 Operating lease assets 54,057 59,145 Goodwill 11,832 11,832 Deferred tax asset, net 5,052 4,285 Other non-current assets 10,373 8,822 Total non-current assets 113,482 113,946 Total assets $ 272,498 $ 293,904 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued liabilities $ 19,924 $ 16,719 Accrued payroll and employee-related liabilities 33,278 30,674 Current deferred revenue 7,223 4,749 Current operating lease liabilities 12,208 12,051 Current maturities of long-term debt 8,217 660 Convertible debt 25,000 — Due to related parties 149 60 Income taxes payable 4,643 6,083 Total current liabilities 110,642 70,996 Non-current liabilities Non-current deferred revenue 1,119 1,128 Non-current operating lease liabilities 48,286 53,441 Long-term debt 695 867 Other non-current liabilities 2,819 1,673 Total non-current liabilities 52,919 57,109 Total liabilities 163,561 128,105 Stockholders' equity Common stock: par value $ 0.0001 , 108,057,967 shares authorized, 13,181,524 and 17,017,476 shares outstanding as of December 31, 2024 and June 30, 2024, respectively 1 2 Additional paid-in capital 212,116 210,200 Treasury stock at cost: 5,457,123 and 1,567,552 shares as of December 31, 2024 and June 30, 2024, respectively ( 101,606 ) ( 25,367 ) Accumulated other comprehensive loss ( 7,250 ) ( 7,913 ) Retained earnings / (deficit) 5,676 ( 11,123 ) Total stockholders' equity 108,

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View this 10-Q filing on SEC EDGAR