IBEX (IBEX) Small-Cap Virtual Conference summary

Business overview and market positioning

• Operates as a business process outsourcer focused on customer experience, serving diverse verticals like e-commerce, healthcare, and fintech with 40,000 agents globally.

• Achieved 15% top-line growth, EBITDA expansion, and 28% EPS growth in the latest fiscal year, with a strong net cash position and no debt.

• Competes against highly leveraged, acquisition-driven peers by growing organically and targeting a $100 billion outsourced contact center market.

• Differentiates through culture, proprietary tech stack (Wave iX), and advanced analytics, validated by industry-leading employee and client net promoter scores.

• Maintains less than 1% revenue churn and consistently wins new clients, growing top 10 client revenue by 22%.

Financial performance and guidance

• Five-year annual compounded revenue growth rate of 5%, accelerating to 13% over the past two years.

• Adjusted EBITDA has grown at 12% CAGR over five years, with adjusted EPS up 21%, aided by active share repurchases.

• Free cash flow has grown steadily since FY 2021, reaching a record in FY 2026, with expectations for another record in FY 2027.

• FY 2027 guidance projects 9%-11% revenue growth and expanding EBITDA margins, with Q1 expected to deliver 11%-12% revenue growth and 13%-18% EBITDA growth.

• Maintains a healthy balance sheet with over $30 million in cash and ongoing share buyback authorization.

Growth drivers and client expansion

• Growth is driven 60% by existing client expansion, 25% by scaling new logos, and the remainder by new client wins.

• New client cohorts typically triple revenue from year one to year two, supporting sustained double-digit growth.

• Business diversification has reduced historical seasonality, enabling more efficient capacity utilization and stable sequential growth.

• Six key verticals each contribute 10%-25% of revenue, with telecom intentionally reduced due to lower margins.