IBEX

MKT CAP:$378M

IBEX Limited

Market Cap

$378M

Technology·Information Technology Services·🇺🇸 United States·NASDAQ

Technology·IT Services·🇺🇸·NASDAQ

Stock Price

$27.77-$8.55 (-23.54%)

Apr 23, 2026

Company Details

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company provides ibex Connect, a customer engagement solution that comprises customer service, technic...

CEO

Robert T. Dechant

IPO Date

Aug 7, 2020

Website

www.ibex.co

Key Metrics TTM

Revenue

$597M

+16.2% YoY

Net Income

$44M

EPS (Diluted)

$2.95

Free Cash Flow

$3M

Revenue / Share

$40.50

Gross Margin

29.2%

Operating Margin

9.1%

Net Margin

7.4%

FCF Margin

0.6%

P/S

0.6x

P/E

8.6x

Earnings Reports

Q3 2026

May 7, 2026

PENDING

Q2 2026

Feb 5, 2026

$164M+16.7%EPS $0.83

Q1 2026

Nov 6, 2025

$151M+16.5%EPS $0.82

FY 2025

Sep 11, 2025

$558M+9.8%EPS $2.36

Q3 2025

May 8, 2025

$141M+11.0%EPS $0.73

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$128M	$32M	$8M
Q3 23	$132M	$40M	$13M
Q1 24	$125M	$36M	$8M
Q2 24	$133M	$37M	$7M
Q3 24	$127M	$40M	$11M
Q4 24	$125M	$39M	$13M
Q1 25	$130M	$40M	$9M
Q2 25	$141M	$42M	$12M
Q3 25	$141M	$45M	$13M
Q1 26	$151M	$45M	$14M
Q2 26	$164M	$43M	$15M

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q3 23	—	—
Q1 24	—	—
Q2 24	0.7x	12.1x
Q3 24	0.7x	10.8x
Q4 24	0.7x	11.2x
Q1 25	0.7x	11.2x
Q2 25	0.7x	10.2x
Q3 25	0.7x	10.2x
Q1 26	0.7x	9.6x
Q2 26	0.6x	8.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$6M	$2M
Q3 23	$7M	$3M
Q1 24	$9M	$7M
Q2 24	-$2M	-$5M
Q3 24	$11M	$10M
Q4 24	$17M	$15M
Q1 25	$8M	$4M
Q2 25	$1M	-$3M
Q3 25	$9M	$4M
Q1 26	$16M	$8M
Q2 26	$7M	-$5M

Capital Expenditures

Quarter	CapEx
Q1 23	$4M
Q3 23	$4M
Q1 24	$2M
Q2 24	$3M
Q3 24	$2M
Q4 24	$2M
Q1 25	$4M
Q2 25	$4M
Q3 25	$5M
Q1 26	$8M
Q2 26	$12M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 24	-0.8%	-3.8%
Q4 24	-5.3%	-5.8%
Q1 25	+4.1%	+3.7%
Q2 25	+6.1%	+2.4%
Q3 25	+11.0%	+10.3%
Q1 26	+21.4%	+23.1%
Q2 26	+26.6%	+23.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$1M	0.9%
Q3 23	$0	0.0%
Q1 24	$848.0K	0.7%
Q2 24	$1M	1.1%
Q3 24	$466.0K	0.4%
Q4 24	$1M	0.8%
Q1 25	$670.0K	0.5%
Q2 25	$1M	0.9%
Q3 25	$2M	1.1%
Q1 26	$3M	1.7%
Q2 26	$1M	0.7%

OpEx Breakdown

Quarter	SG&A
Q1 23	$19M
Q3 23	$22M
Q1 24	$23M
Q2 24	$25M
Q3 24	$24M
Q4 24	$22M
Q1 25	$26M
Q2 25	$26M
Q3 25	$27M
Q1 26	$27M
Q2 26	$28M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$41M	$0	$41M
Q4 22	$49M	$0	$49M
Q1 23	$43M	$0	$43M
Q2 23	$38M	$0	$38M
Q3 23	$44M	$0	$44M
Q4 23	$57M	$0	$57M
Q1 24	$62M	$0	$62M
Q2 24	$49M	$0	$49M
Q3 24	$51M	$0	$51M
Q4 24	$63M	$0	$63M
Q1 25	$62M	$0	$62M
Q2 25	$20M	$0	$20M
Q3 25	$13M	$0	$13M
Q4 25	$15M	$0	$15M
Q1 26	$23M	$0	$23M
Q2 26	$15M	$0	$15M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	19M	—	—
Q3 23	19M	+2.2%	—
Q1 24	19M	-0.8%	—
Q2 24	18M	-2.4%	—
Q3 24	18M	-2.2%	-3.2%
Q4 24	18M	-2.2%	-7.4%
Q1 25	17M	-0.8%	-7.5%
Q2 25	16M	-5.9%	-10.8%
Q3 25	14M	-12.5%	-20.1%
Q1 26	15M	+1.4%	-17.2%
Q2 26	15M	+0.9%	-15.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 23	$4.3K	30K
Q3 23	$4.4K	30K
Q1 24	$4.2K	30K
Q2 24	$4.4K	30K
Q3 24	$4.2K	30K
Q4 24	$4.2K	30K
Q1 25	$4.3K	30K
Q2 25	$4.7K	30K
Q3 25	$4.7K	30K
Q1 26	$4.6K	33K
Q2 26	$5.0K	33K

Revenue / Employee