IBEX (IBEX) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $164.2 million, up 16.7% year-over-year, and fourth consecutive quarter of double-digit organic growth, with adjusted EPS up 46% year-over-year.

• Strong performance driven by HealthTech, Travel, Retail, and digital acquisition business, with new client wins and expansion in India to two sites and nearly 1,000 agents.

• Strategic investments in AI and digital capabilities, including appointment of a Chief AI and Digital Officer, reinforce industry leadership.

• Healthy balance sheet, strong cash flow, and ongoing share repurchases support continued investments.

• Operating margin and profitability improved due to higher-margin offshore operations and site optimization.

Financial highlights

• Q2 revenue was $164.2 million, up from $140.7 million year-over-year; six-month revenue reached $315.4 million, up 16.6%.

• Net income for the quarter was $12.2 million, up from $9.3 million; adjusted net income was $12.8 million, up from $9.6 million.

• Adjusted EBITDA hit $20.7 million (12.6% margin), up from $16.5 million (11.8% margin); six-month adjusted EBITDA margin was 12.7%.

• Fully diluted EPS was $0.83, up from $0.57; adjusted EPS was $0.87, up from $0.59.

• Net cash from operations was $6.6 million; free cash flow for six months was $2.9 million, with capital expenditures of $11.7 million.

Outlook and guidance

• Fiscal 2026 revenue guidance raised to $620–$630 million, with adjusted EBITDA guidance increased to $80–$82 million.

• Capital expenditures expected at the upper end of $20–$25 million.

• Management expects continued growth from offshore and digital services, leveraging AI and technology investments.