Slides
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Built for what’s next. ibex Q4 FY2026 Earnings Call September 10, 2026 Bob Dechant, CEO
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Built for what’s next. This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation, other than statements of historical facts, are forward-looking statements. The words “believe,” “estimate,” “expect,” “may,” “will” and similar expressions are intended to identify forward-looking statements. Such forward- looking statements include, but are not limited to, the statements regarding our future financial and operating performance, including our outlook and guidance, and our strategies, priorities and business plans. Our expectations and beliefs regarding these matters may not materialize. Forward- looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to, our ability to attract new business and retain key clients; our profitability based on our utilization, pricing and managing costs; our access to financing to support our operations and growth; the potential for our clients or potential clients to consolidate; our clients deciding to enter into or further expand their insourcing activities and current trends toward outsourcing services may reverse; our ability to compete effectively in our industry; general economic uncertainty in global markets and unfavorable economic conditions, including inflation, rising interest rates, recession, and foreign exchange fluctuations; our ability to manage our international operations, particularly in the Philippines, Jamaica, Pakistan and Nicaragua; natural events, health epidemics, global geopolitical conditions, including developing or ongoing conflicts, widespread civil unrest, terrorist attacks and other attacks of violence involving any of the countries in which we or our clients operate; our ability to anticipate, develop and implement information technology solutions that keep pace with evolving industry standards and changing client demands including the effective adoption of Artificial Intelligence into our offerings; our ability to recruit, engage, motivate, manage and retain our global workforce; our ability to comply with applicable laws and regulations, including those regarding privacy, data protection and information security, employment and anti-corruption; the effect of cyberattacks or cybersecurity vulnerabilities on our information technology systems, the impact of tax matters, including new legislation and actions by taxing authorities, as well as other risks and uncertainties discussed in the “Risk Factors” section of our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on September 10, 2026, as updated by our Quarterly Reports on Form 10-Q, and any other risk factors we include in subsequent filings with the SEC. Except as required by law, we assume no duty to update any of these forward-looking statements after the date of this presentation to conform these statements to actual results or revised expectations. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation. Moreover, except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements contained in this presentation. . This presentation may also contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk By attending or receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business. This presentation includes non-GAAP financial measures which have certain limitations and should not be considered in isolation, or as alternatives to or substitutes for, financial measures determined in accordance with GAAP as issued by the FASB. The non-GAAP measures as defined by us may not be comparable to similarly titled non-GAAP measures presented by other companies and have limitations as analytical tools. Our presentation of such measures, which may include adjustments to exclude unusual, non-cash, or non-recurring items, should not be construed as an inference that our future results will be unaffected by these items. Non-GAAP financial measures and ratios are not measurements of our performance, financial condition or liquidity under GAAP as issued by the FASB and should not be considered as alternatives to operating profit or net income or as alternatives to cash flow from operating, investing or financing activities for the period, or any other performance measures, derived in accordance with GAAP as issued by the FASB or any other generally accepted accounting principles. We are not providing a quantitative reconciliation of forward-looking non-GAAP adjusted EBITDA to the most directly comparable GAAP measure because we are unable to predict with reasonable certainty the ultimate outcome of certain significant items without unreasonable effort. These items include, but are not limited to, non-recurring expenses, fair value adjustments, share-based compensation expense, and impairment of assets. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For additional information about ibex’s business, refer to our Annual Report on Form 10-K filed with the SEC on September 10, 2026, and other documents filed with the SEC from time to time, and relevant earnings press releases (including GAAP, Non-GAAP and other financial tables included therein). The documents that we filed with the SEC can be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. 2 Disclaimer
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Separating from the Traditional BPO Industry Outperforming the Competition Market share gains driven by operational excellence Business Insights Enabling AI Agent Success Developing customer journeys for effective call containment & high CSAT Pristine Balance Sheet Net cash position; Strong free cash flow Best-in-Class Culture & Client Partnerships World Class Employee NPS, Client NPS & Client Revenue Retention 4-6 Weeks to AI Deployment Strong Financial Profile Growth Leader, Strong EBITDA, EPS 14% YoY Adj. EBITDA Growth 28% YoY Adj. EPS Growth 22% YoY Growth with Top 10 Clients $31.2m FCF FY26 $30.9m Net Cash 3 Defining the New Era of BPO with AI Agents Strategic Partnership with Sierra 15% YoY Organic Revenue Growth 82 Employee NPS 71 Client NPS 99%+ Client Revenue Retention 10+ AI Agent Deployments 5 Vertical Markets 17 New Client Wins (FY26) Containment + CSAT
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Key Highlights 4 ✓ Record Q4 Revenue of $164.3m ✓ 12% Organic Revenue Growth ✓ 6th Straight Qtr. Double-Digit Revenue Growth ✓ 9 New Clients Wins ✓ Adjusted EPS: $0.85 ✓ $22m Free Cash Flow ✓ Sierra Partnership announced ✓ Full Year 2026 Revenue of $644.1m ✓ 15% Organic Revenue Growth ✓ 2 Years Straight Double-Digit Revenue Growth ✓ 17 Total Client Wins ✓ Adjusted EPS: $3.52 ✓ Significant Embedded Base Market Share Gain - Top 5: +24%, Top 10: +22%, Top 25: +15% ✓ 99%+ Client Revenue Retention Q4 FY26 Full Year 2026 Client Net Promoter Score: 71 Employee Net Promoter Score: 82
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Defining the New Era of BPO with AI Agents 5 Transformational Success for our Clients and ibex Partnership of Best-In-Class Companies ibex: Best-in-Class BPO • Agent Human Experience • Business Insights • Tech Integration Sierra: Best-in-Class AI Agent • Conversational AI platform • Human Experiences from AI Defining the New Era of BPO with AI Agent Solutions
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Case Studies – New Vectors of Growth through AI 6 • Existing ibex client • AI-Agent Solution in 3 languages • Initial Containment/ Resolution Rate: 24% • CSAT: 4.71 (5.0 scale) • New client win, led with our AI Solution • Launched in June • Initial Containment/ Resolution Rate: 40% • CSAT: 4.74 (5.0 scale) • Deployed with our Digital Customer Acquisition Business • Increased sales opportunities by ~5% • $3m+ Incremental revenue expected in FY27 • Leading luxury activewear brand won through Sierra Partnership • Scale human-agent support alongside AI solution • Launched proof-of-concept within 30 days • Now Scaling to 800 FTE Luxury Activewear Brand
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Built for what’s next. Taylor Greenwald CFO Financial Results
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Q4 FY2026: Financial Highlights – US GAAP • Sixth straight quarter of double -digit growth • HealthTech (+42%), Technology (+27%), Travel, Transportation & Logistics (+18%) and Retail & E-commerce (+7%) verticals with growth in our AI Agent solutions • 15% revenue growth in our onshore region, driven by clients won and launched during FY 2026 and 14% revenue growth in our higher margin offshore regions Revenue $164.3m Q4 FY26 vs. $147.1m Q4 FY25 11.6% YoY growth Fully Diluted EPS $0.59 Q4 FY26 vs. $0.66 Q4 FY25 8 Net Income $8.7m Q4 FY26 vs. $9.6m Q4 FY25 • Higher cost driven by training expenses related to new client wins, temporary impact of work transferring from nearshore to offshore delivery centers, and costs associated with higher fuel prices • One-time expenses of $2.0m associated with lease terminations, severance expense and impairment losses • Lower Tax rate of 10% versus 19% in prior year quarter, primarily attributable to changes in revenue mix across our taxable jurisdictions and discrete tax items Strong Q4 across many key Operating Metrics US GaapS
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Q4 FY2026: Financial Highlights – Non-GAAP 13.9% Margin 14.4% Margin Adjusted Net Income $12.7m Q4 FY26 vs. $12.6m Q4 FY25 Adjusted EPS $0.85 per share Q4 FY26 vs. $0.87 per share Q4 FY25 9 Adjusted EBITDA flat YoY: • Training costs related to new client wins • Temporary impact of work transferring from nearshore to offshore as well as the impact of higher fuel prices • Partially offset by lower SG&A expenses as a percent of revenue Adjusted EBITDA $20.2m Q4 FY26 vs. $20.5m Q4 FY25 $12.0 $14.0 $16.0 $18.0 $20.0 $22.0 Q4 FY25 Q4 FY26 Q4 YoY Adjusted EBITDA and margin 12.3% Margin 13.9% Margin $20.5m $20.2m Non-Gaap
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10 Revenue: Model Client Diversification Q4 FY26 Client Statistics (% of Revenue) Top 5 Clients 33% vs 36% Top 10 Clients53% vs 54% Top 25 Clients 75% vs 79% Largest Client 9% vs 10% 77 Clients: $1m+ Annualized Revenue (Up ~26% YoY) Client Diversification
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11 $37.2 $20.6 $20.2 $16.1 $15.5 $10.9 $26.6 $39.8 $29.4 $23.8 $15.5 $15.9 $13.9 $26.0 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 $45.0 Q4 FY25 Q4 FY26 25.3% 24.2% 17.9%14.0% 8.4%13.8% 9.4%10.9%14.5% 15.9%18.0%7.4%9.7%10.6% Great Diversification - Growing Across Key Vertical Markets Revenue by Vertical ($m) % of Total Revenue Revenue increases by vertical • HealthTech increased 42% YoY • Technology increased 27% YoY • Travel, Transportation & Logistics increased 18% YoY • Retail & E-commerce increased 7% YoY • FinTech increased 3% YoY Winning in Strategic Verticals
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FY2026: Financial Highlights – US GAAP • HealthTech (+38%), Technology (+26%), Travel, Transportation & Logistics (+17%) and Retail & E-commerce (+ 14%) along with accelerating growth in AI Agent solutions and Digital acquisition business • 16% revenue growth in our higher margin offshore regions vs. prior year and 25% revenue growth in our onshore region Revenue $644.1m FY26 vs. $558.3m FY25 15.4% YoY growth Fully Diluted EPS $3.13 FY26 vs. $2.36 FY25 12 Net Income $46.3m FY26 vs. $36.9m FY25 • Continued growth of profitable revenue • Operating leverage gained from lower SG&A expenses • EPS increase of 33% • Effective tax rate was 15% vs. 20% • Diluted shares outstanding 14.8m vs. 15.7m 15% Revenue Growth vs Prior Year US GaapSR
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FY2026: Financial Highlights – Non-GAAP 13.9% Margin 14.4% Margin Adjusted Net Income $52.2m FY26 vs. $43.0m FY25 Adjusted EPS $3.52 per share FY26 vs. $2.75 per share FY25 13 • Continued growth of profitable revenue • Operating leverage gained from lower SG&A expenses • Adjusted EPS growth of 28% Adjusted EBITDA $82.4m FY26 vs. $72.0m FY25 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 $80.0 $90.0 FY25 FY26 FY YoY Adjusted EBITDA and Margin 12.8% Margin 12.9% Margin $72.0m $82.4m Non-Gaap
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FY2026: Cash Flow and CapEx 14 Non-GAAP Free Cash Flow $31.2m FY26 (Record) $27.3m FY25 Net Cash Generated from Operations $59.0m FY26 (Record) $45.7m FY25 Capital Expenditures FY26: $27.8m, 4.3% of Revenue FY25: $18.4m, 3.3% of Revenue DSO 69 days Q4 FY26 71 days Q3 FY26 72 days Q4 FY25 Cash Flow Consistent Strong Cash Flow Generation
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June 2026 Balance Sheet 15 • Effective use of capital o Site expansions o Share repurchase • Repurchased approx. 143,000 shares for $4.3m at an average price of $29.83, bringing our fiscal year share repurchases to approx. 453,000 for $14.4m at an average price of $31.70 • Robust Balance Sheet & Capital Structure Cash and Cash Equivalents $32.6m June 30, 2025, $15.4m Total Debt ~$1.7m June 30, 2025, $1.6m Net Cash ~$30.9m June 30, 2025, $13.7m Balance sheet
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Q1 & Full Year 2027 Guidance $168-170m $22-23m Revenue Q1 FY27 Adj. EBITDA CapEx 16 $700-715m $90-94m $25-30m FY27 Guidance not provided 11% - 12% growth 13% - 18% growth 9% - 11% growth 9% - 14% growth
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Built for what’s next. Q & A
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Built for what’s next. Appendix
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Reconciliation of Net Income to Adjusted Net Income 19 Three months ended Twelve months ended 30-June 30-June US$ in thousands, except per share amounts, unaudited 2026 2025 2026 2025 Net income $ 8,747 $ 9,596 $ 46,331 $ 36,864 Net income margin 5.3% 6.5% 7.2% 6.6% Severance Costs 267 588 1,240 558 Impairment losses 1,092 1,429 1,092 1,429 Gain on asset disposals (150) — (150) — Loss on lease terminations 744 — 744 — Foreign currency (gains)/losses (499) 27 (3,177) 693 Stock-based compensation expense 3,285 1,926 7,737 5,432 Total adjustments $ 4,739 $ 3,940 $ 7,486 $ 8,112 Tax impact of adjustments (821) (969) (1,650) (1,975) Adjusted net income $ 12,665 $ 12,567 $ 52,167 $ 43,001 Adjusted Net Income Margin 7.7% 8.5% 8.1% 7.7% Diluted earnings per share $ 0.59 $ 0.66 $ 3.13 $ 2.36 Per share impact of adj. to Net Income 0.26 0.21 0.39 0.39 Adj. earnings per share – diluted $ 0.85 $ 0.87 $ 3.52 $ 2.75 Weighted average diluted shares outstanding 14,892 14,491 14,808 15,725
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Reconciliation of Net Income to Adjusted EBITDA 20 Three months ended Twelve months ended 30-June 30-June US$ in thousands, unaudited 2026 2025 2026 2025 Net income $ 8,747 $ 9,596 $ 46,331 $ 36,864 Net income margin 5.3% 6.5% 7.2% 6.6% Interest expense 222 448 936 1,634 Income tax expense 968 2,247 7,963 9,068 Depreciation and amortization 5,624 4,248 19,922 17,232 EBITDA $ 15,561 $ 16,539 $ 75,152 $ 64,798 Interest Income (115) (29) (266) (955) Severance Costs 267 558 1,240 558 Impairment losses 1,092 1,429 1,092 1,429 Gain on asset disposals (150) — (150) — Loss on lease terminations 744 — 744 — Foreign currency (gains)/losses (499) 27 (3,177) 693 Stock-based compensation expense 3,285 1,926 7,737 5,432 Adjusted EBITDA $ 20,185 $ 20,450 $ 82,372 $ 71,955 Adjusted EBITDA Margin 12.3% 13.9% 12.8% 12.9%
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21 2025 Gold Stevie® Award in the Achievement in Technology Innovation 2025 Product of the Year (Wave iX Translate and AI Virtual Agent) 2025 Asia’s Most Influential Companies 2025 & 2024 Business Award for Achievement in Technology Innovation 2025 & 2024 Excellence in Customer Service “Technology of the Year” 2025, 2024, 2023 & 2022 Customer Experience Innovation Award 2024 Top Customer Outsourcing Service Provider 2024 Technological Breakthrough of the Year – Artificial Intelligence 2024 Ranked #10 in North America Top 100 Inspiring Workplaces 2026 & 2025 America's Most Admired Workplaces 2025 & 2024 Globee Technology Award for Wave iX 2026 & 2025 America’s Dream Employers 2025 Leader in Frost Radar for Customer Experience Management 2025 America’s Best Employers for Women 2025 America's Greatest Workplaces for Inclusion/Diversity 2025 & 2024 American Business Awards for Innovation 2025 America’s Greatest Workplaces for Professional Services 2025 Top 10 Best Place to Work in Central America and Caribbean 2026, 2024, 2023 & 2022 Product of the Year Award 2026 & 2025 Excellence in Customer Experience 2026 Sales & Customer Support 2026, 2025 & 2024 America’s Best Large Employers 2026 & 2024 America’s Best Employers for Tech Workers 2026 America’s Best Companies 2024 Generative AI Product of the Year Award 2024, 2022, 2021, 2020 & 2019 Great Place to Work – ibex Nicaragua 2025 & 2024 Best Employers for New Grads 2026 America's Greatest Workplaces for Culture, Belonging & Community 2026 Business Excellence Awards Gold 2026 Achievement in Customer Experience Recent Industry Awards