IBEX Limited (NASDAQ:IBEX) Q3 2024 Earnings Conference Call May 9, 2024 4:30 PM ET
Company Participants
Michael Darwal - Investor Relations
Bob Dechant - Chief Executive Officer
Taylor Greenwald - Chief Financial Officer
Conference Call Participants
David Koning - Baird
Operator
Welcome to the IBEX Third Quarter Full Year 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. To note, there is an accompanying earnings deck presentation available on the IBEX Investor Relations website at investors.ibex.co.
I will now turn this conference over to Mr. Michael Darwal, Investor Relations of IBEX.
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 as such, are reporting on a U.S. GAAP basis rather than from the previous IFRS standards.
With that, I will now turn the call over to IBEX CEO, Bob Dechant.
Bob Dechant
Thank you, Mike. Good afternoon, everyone, and thank you all for joining us today as we share our third quarter fiscal 2024 results. For my remarks today, I will briefly review our results for the quarter, which included the strongest adjusted EBITDA margin and EPS quarter in our history. And then I will go into detail and share our strategy to be at the leading edge of the transformation from traditional live agents to a business that also offers AI virtual agents and automated interactions.
Our third quarter fiscal 2024 was one of the strongest on record. The operational and strategic initiatives we have delivered upon over the last several quarters, resulted in adjusted EBITDA of $19.2 million delivering record 15.1% adjusted EBITDA margin and $0.70 adjusted EPS. Revenues for the quarter were slightly down to $126.8 million versus prior year, primarily due to the completion of a short-term project we serviced last year. These results are an output of the structural business we have built. We continue to grow our highest margin services and geographies.