IBEX Limited (NASDAQ:IBEX) Q1 2024 Earnings Conference Call November 9, 2023 4:30 PM ET

Company Participants

Michael Darwal – Deputy Chief Financial Officer and Investor Relations

Bob Dechant – Chief Executive Officer

Taylor Greenwald – Chief Financial Officer

Conference Call Participants

Tobey Sommer – Truist

Dave Koning – Baird

Matthew Roswell – RBC

Ryan Potter – Citi

Operator

Welcome to the IBEX First Quarter 2024 Earnings Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] To note, there is an accompanying earnings deck presentation available on the investor – IBEX Investor Relations website at investors.ibex.co.

I will now turn this conference over to Mr. Michael Darwal, Deputy CFO and Investor Relations of IBEX. Please go ahead.

Michael Darwal

Good afternoon, and thank you for joining us today. Before we begin, I want to remind you that matters discussed on today’s call may include forward-looking statements related to our operating performance, financial goals and business outlook, which are based on management’s current beliefs and assumptions. Please note that these forward-looking statements reflect our opinion as of the date of this call, and we undertake no obligation to revise this information as a result of new developments, which may occur.

Forward-looking statements are subject to various risks, uncertainties and other factors that could cause our actual results to differ materially from those expected and described today. For a more detailed description of our risk factors, please review our annual report on Form 10-K filed with the U.S. Securities and Exchange Commission on September 13, 2023.

As a reminder, as of July 1, 2023, we became a domestic filer and are reporting on a U.S. GAAP basis rather than from the previous IFRS standard.

With that, I will now turn the call over to Bob Dechant, CEO of IBEX.

Bob Dechant

Thank you, Mike. Good afternoon, everyone, and thank you all for joining us today as we share our first quarter fiscal 2024 results. I’m extremely proud of how well our business continues to perform. In the quarter, we delivered on our key objectives while achieving the high end of our revenue guidance and coming in line with our EBITDA margin guidance. More importantly, IBEX continues to consistently execute, capitalize on market opportunities and strengthen our position.

Q1 FY 2024 is our seventh consecutive quarter of year-over-year adjusted EBITDA growth and our fifth straight quarter of year-over-year adjusted EBITDA margin improvement, driven by continued growth of our high-margin services and geographies.