ibex’s revenue jumps 5.5% in December quarter
WASHINGTON, UNITED STATES — Business Process Outsourcing (BPO) solutions provider ibex Limited’s revenue grew by 5.5% to $139.4 million for its second quarter ending December 31, 2022.
In a press release, the firm revealed that revenue generated from their BPO 2.0 clients — startups, scale-ups, and blue-chip — grew 16.9% year-on-year (YoY) and represented 77.3% of total revenue in the second quarter.
Their adjusted net income and adjusted net income margin increased to $11.7 million and 8.4%, respectively.
At the same time, ibex’s Q2 non-GAAP adjusted EBITDA increased 40.5% to $25.1 million, while its net cash flow increased to $8.3 million.
However, the firm’s net income and net income margin decreased to $1.9 million and 1.3%, respectively, due to the revaluation of share warrants driven by the improvement in the stock price.
ibex CEO Bob Dechant said, “We delivered on a tremendous second quarter of [the] fiscal year 2023. Driven by our strategic decision to aggressively expand capacity in our high margin regions and exit a low margin tenured client….”
“Looking ahead, I am very excited about the trajectory of our business,” he added.
ibex is an elite CX outsourcer for the world’s startups, scale-ups, and blue chips. It is currently listed in Outsource Accelerator’s (OA) Global Outsourcing Firm (BPO) Index, a vital tool in assisting the BPO decision-making community with a broad but objective assessment of the industry at large.
