$IBEX

IBEX Ltd

CIK:0001720420|SEC Filings

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Statement of Comprehensive Income [Abstract]
Revenue	$ 644,076	$ 558,273	$ 508,569
Cost of services (exclusive of depreciation and amortization presented separately below)	456,169	385,692	356,536
Selling, general and administrative	113,021	108,738	93,143
Depreciation and amortization	19,922	17,232	19,461
Total operating expenses	589,112	511,662	469,140
Income from operations	54,964	46,611	39,429
Interest income	266	955	2,071
Interest expense	(936)	(1,634)	(514)
Income before income taxes	54,294	45,932	40,986
Provision for income tax expense	(7,963)	(9,068)	(7,331)
Net income	46,331	36,864	33,655
Other comprehensive (loss) / income
Foreign currency translation adjustments	(3,140)	1,114	(1,623)
Unrealized (loss) / gain on cash flow hedging instruments, net of tax	(2,535)	775	(111)
Actuarial gain / (loss) on defined benefit plan	524	(312)	133
Total other comprehensive (loss) / income	(5,151)	1,577	(1,601)
Total comprehensive income	$ 41,180	$ 38,441	$ 32,054
Net income per share
Basic (in dollars per share)	$ 3.45	$ 2.51	$ 1.90
Diluted (in dollars per share)	$ 3.13	$ 2.36	$ 1.84
Weighted average common shares outstanding
Basic (in shares)	13,414	14,678	17,704
Diluted (in shares)	14,808	15,725	18,255

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 46,331	$ 36,864	$ 33,655
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19,922	17,232	19,461
Noncash lease expense	13,911	13,378	13,205
Noncash gain on lease terminations	(85)	0	0
Warrant contra revenue	0	0	1,183
Deferred income tax	(8)	(2,877)	344
Stock-based compensation expense	7,737	5,432	3,765
Allowance of expected credit losses	427	514	33
Impairment losses	1,092	1,429	1,532
Change in assets and liabilities:
Increase in accounts receivable	(8,659)	(19,262)	(12,068)
(Increase) / decrease in prepaid expenses and other current assets	(11,356)	361	(7,517)
Increase / (decrease) in accounts payable and accrued liabilities	2,506	6,248	(2,246)
Increase / (decrease) in deferred revenue	1,830	752	(1,919)
Decrease in operating lease liabilities	(14,647)	(14,403)	(13,528)
Net cash inflow from operating activities	59,001	45,668	35,900
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(27,807)	(18,375)	(8,855)
Net cash outflow from investing activities	(27,807)	(18,375)	(8,855)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit	38,600	82,710	238
Repayments of line of credit	(38,600)	(82,710)	(291)
Proceeds from the exercise of options	4,009	4,307	366
Taxes paid related to net share settlement of equity awards	(2,338)	0	0
Principal payments on finance leases	(1,216)	(953)	(490)
Purchase of treasury shares	(14,382)	(78,014)	(21,556)
Net cash outflow from financing activities	(13,927)	(74,660)	(21,733)
Effects of exchange rate difference on cash and cash equivalents	(51)	(3)	(21)
Net increase / (decrease) in cash and cash equivalents	17,216	(47,370)	5,291
Cash and cash equivalents at beginning of the year	15,350	62,720	57,429
Cash and cash equivalents at end of the year	32,566	15,350	62,720
Supplemental cash flow disclosures
Cash paid for interest	936	1,634	514
Cash paid for income taxes	11,587	11,952	7,688
Supplemental non-cash disclosures
Change in accounts payable related to fixed assets	$ 104	$ 384	$ (548)

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets
Cash and cash equivalents	$ 32,566	$ 15,350
Accounts receivable, net of allowance of $565 and $232	125,292	117,136
Prepaid expenses	15,205	9,443
Due from related parties	0	40
Tax advances and receivables	4,226	1,522
Other current assets	2,348	2,128
Total current assets	179,637	145,619
Non-current assets
Property and equipment, net	40,725	32,563
Operating lease assets	55,496	62,276
Goodwill	11,832	11,832
Deferred tax asset, net	7,170	7,163
Other non-current assets	14,275	13,762
Total non-current assets	129,498	127,596
Total assets	309,135	273,215
Current liabilities
Accounts payable and accrued liabilities	22,996	18,692
Accrued payroll and employee-related liabilities	40,914	38,588
Current deferred revenue	6,384	5,498
Current operating lease liabilities	13,936	14,332
Current debt	882	823
Due to related parties	0	22
Income taxes payable	427	1,986
Total current liabilities	85,539	79,941
Non-current liabilities
Non-current deferred revenue	2,075	1,130
Non-current operating lease liabilities	46,849	53,804
Long-term debt	777	796
Other non-current liabilities	3,665	3,235
Total non-current liabilities	53,366	58,965
Total liabilities	138,905	138,906
Commitments (Note 9)
Stockholders' equity
Common shares: par value $0.000111650536, 108,057,967 shares authorized, 13,309,640 and 13,357,990 shares outstanding as of June 30, 2026 and 2025, respectively	2	1
Treasury shares at cost: 5,968,161 and 5,515,403 shares as of June 30, 2026 and 2025, respectively	(117,703)	(103,338)
Additional paid-in capital	227,346	218,241
Accumulated other comprehensive loss	(11,487)	(6,336)
Retained earnings	72,072	25,741
Total stockholders' equity	170,230	134,309
Total liabilities and stockholders' equity	$ 309,135	$ 273,215