NASDAQ$IBEX
IBEX Limited · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Announced financial results for the second fiscal quarter ended December 31, 2023.
IBEX Limited reported a decrease in revenue and net income compared to the prior year quarter, with revenue declining by 4.8% to $132.6 million and net income decreasing to $6.1 million. The company won eight new client relationships and made strategic investments in sales and AI capabilities.
- Revenue decreased by 4.8% year-over-year to $132.6 million.
- Net income was $6.1 million, down from $9.3 million in the prior year quarter.
- Diluted earnings per share were $0.33, compared to $0.49 in the prior year quarter.
- Eight new client relationships were won across various sectors.
Headline financials
Revenue & EPS history
IBEX · Revenue · Quarterly
$133M
Forward guidance
The company expects third quarter revenues to trend similarly to the first two quarters on a year-over-year basis, with an anticipated inflection towards growth in the fourth quarter. Full year revenue is expected to be between $505 and $510 million, with adjusted EBITDA margin in the range of 12-13%.
Tailwinds
- New client ramps reaching scale in the fourth quarter will drive growth.
- Strategy of driving growth in higher margin offshore regions.
- New client wins will accelerate growth.
- Cost savings through optimizing site footprint will drive improvement in adjusted EBITDA margins.
- Confident that the strategy will drive improvement in adjusted EBITDA margins for the second half of the fiscal year and in the years ahead.
Headwinds
- Softness in several client volumes has resulted in lower revenues.
- Volume trajectory is expected to continue for the near term.
- Third quarter revenues are expected to trend similarly to the first two quarters on a year over year basis.
- Adverse impact realized year over year to revenue and EBITDA associated with the deferral of revenue for new logo and client ramps.
- Strategic investments made for the business in technology and sales & marketing, resulting in lower income from operations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+4.9%
Avg return
Earnings day
+6.5%
Avg return
5 days after
+6.3%
Avg return
30 days after
61%
14 / 23 earnings
Positive
+36.1%
Q4 2020
Best reaction
-27.0%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -0.9% | +10.2% | +6.3% | |
| Q2 2026 | +2.3% | -11.8% | -10.8% | |
| Q1 2026 | -0.6% | -0.2% | -0.2% | |
| Q3 2025 | +19.2% | +9.2% | +16.6% | |
| Q2 2025 | +10.9% | +19.9% | +14.3% | |
| Q1 2025 | -0.8% | -1.1% | +0.5% | |
| Q4 2024 | +18.8% | +16.1% | +17.4% | |
| Q3 2024 | +2.2% | +5.1% | +9.5% | |
| Q2 2024 | -8.7% | -13.7% | -11.0% | |
| Q1 2024 | +2.2% | +6.4% | +5.9% | |
| Q4 2023 | -27.0% | -16.9% | -13.6% | |
| Q3 2023 | +4.8% | +15.0% | +14.4% | |
| Q2 2023 | +12.4% | +12.4% | -0.0% | |
| Q1 2023 | +12.3% | +14.1% | +19.2% | |
| Q4 2022 | +8.8% | +11.5% | +26.2% | |
| Q3 2022 | -3.1% | +2.6% | +3.5% | |
| Q2 2022 | +25.5% | +23.2% | +24.2% | |
| Q1 2022 | -12.5% | -12.5% | -26.0% | |
| Q4 2021 | -2.1% | -3.9% | -8.4% | |
| Q3 2021 | -5.6% | -4.7% | -22.0% | |
| Q2 2021 | +8.6% | +6.6% | -2.0% | |
| Q1 2021 | +9.1% | +18.9% | +23.7% | |
| Q4 2020 | +36.1% | +43.1% | +57.4% | |
| Q1 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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