Q4 2024 Ibex Ltd Earnings Call Transcript
Key Points
- IBEX Ltd (IBEX) achieved record EPS of $2.10, up from $1.96 last year.
- The company delivered record free cash flow of $27 million, an increase from $22.9 million in the prior year.
- IBEX Ltd (IBEX) won 18 new client relationships in FY24, up from 10 in the prior year.
- The company successfully grew its more profitable digital-first services, which now represent 77% of revenue.
- IBEX Ltd (IBEX) ended the year with $61.2 million in net cash and repurchased $1.3 million shares, reducing shares outstanding by 8%.
- Revenue decreased by 2.8% year-over-year to $509 million.
- The company faced macroeconomic headwinds, impacting near-term revenue growth.
- Onshore revenue, which is lower margin, decreased to 23% of total revenue from 26% in the prior year quarter.
- Net cash derived from operating activities decreased to $35.9 million from $41.9 million in the prior year.
- DSOs increased to 72 days, up from 63 days at the end of last year, indicating slower collection of receivables.
Welcome to the Ibex fourth quarter full year 2024 earnings conference call. (Operator Instructions) 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, Head of Investor Relations for Ibex.
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 opinions 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
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