IBEX Limited
- Open
- 36.00
- Day high
- 36.00
- Day low
- 35.13
- Prev close
- 35.45
- Volume
- 80K
- Mkt cap
- $474M
- P/E (TTM)
- 10.1
- EPS (TTM)
- $3.52
- P/B
- 2.9
- P/S
- 0.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$989K over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions accumulating (13F)
IBEX Limited (IBEX) is a Technology company listed on NASDAQ. The stock is up 19% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
IBEX Limited (IBEX) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
IBEX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.85 | $0.91 | +6.4% | $164M | +4.7% |
| Feb 5, 2026 | $0.85 | $0.87 | +1.8% | $164M | +5.4% |
| Nov 6, 2025 | $0.81 | $0.90 | +11.1% | $151M | -2.8% |
| Sep 11, 2025 | $0.73 | $0.87 | +18.4% | $147M | +1.7% |
| May 8, 2025 | $0.73 | $0.82 | +12.3% | $141M | +5.9% |
| Feb 6, 2025 | $0.49 | $0.59 | +20.4% | $141M | +4.5% |
| Nov 7, 2024 | $0.48 | $0.52 | +8.3% | $130M | +3.6% |
| Sep 12, 2024 | $0.53 | $0.58 | +9.4% | $125M | +1.9% |
| May 9, 2024 | $0.52 | $0.70 | +34.6% | $127M | +3.7% |
| Feb 8, 2024 | $0.50 | $0.44 | -12.0% | $133M | +5.0% |
| Nov 9, 2023 | $0.36 | $0.40 | +11.1% | $125M | +0.6% |
| Sep 13, 2023 | $0.49 | $0.33 | -32.7% | $124M | -1.1% |
IBEX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Greenwald Taylor Cofficer: Chief Financial Officer | Tax | 853 | $31.60 |
| Jul 6, 2026 | Dechant Robert Thomasdirector, officer: Chief Executive Officer | Tax | 4,511 | $31.60 |
| Jul 6, 2026 | Inson Paul Josephofficer: Chief People Officer | Tax | 823 | $31.60 |
| Jul 6, 2026 | Darwal Michael Josephofficer: Chief AI & Digital Officer | Tax | 316 | $31.60 |
| Jul 6, 2026 | Casteel Julie Kofficer: Chief Sales/Marketing Officer | Tax | 910 | $31.60 |
| Jul 6, 2026 | Afdahl David Martinofficer: Chief Operating Officer | Tax | 1,138 | $31.60 |
| Jul 6, 2026 | Trofimuk-O'Connor Christina Aliceofficer: Chief Legal Officer | Tax | 700 | $31.60 |
| Jul 6, 2026 | Dawson Bruce Neilofficer: Chief Sales and CS Officer | Tax | 886 | $31.60 |
| Jun 16, 2026 | Casteel Julie Kofficer: Chief Sales/Marketing Officer | Sell | 3,600 | $30.61 |
| May 29, 2026 | McGinnis Patrickdirector | Sell | 1,030 | $31.69 |
| May 27, 2026 | Greenwald Taylor Cofficer: Chief Financial Officer | Grant | 3,333 | — |
| May 27, 2026 | Greenwald Taylor Cofficer: Chief Financial Officer | Sell | 964 | $32.02 |
| May 13, 2026 | Dechant Robert Thomasdirector, officer: Chief Executive Officer | Sell | 7,800 | $30.50 |
| May 13, 2026 | Dawson Bruce Neilofficer: Chief Sales and CS Officer | Sell | 15,260 | $31.12 |
| May 13, 2026 | Dawson Bruce Neilofficer: Chief Sales and CS Officer | Sell | 3,129 | $32.80 |
Source: IBEX SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full IBEX insider & 13F page →IBEX Limited company profile
Overview
IBEX Limited (NASDAQ:IBEX) is a technology-enabled customer experience outsourcing company founded in 2017 and headquartered in Washington, D.C. The company went public in August 2020 and operates as a subsidiary of The Resource Group International Limited. IBEX has evolved from a traditional business process outsourcing (BPO) provider into what it calls a "BPO 2.0" company, focusing on digital-first customer engagement solutions powered by artificial intelligence and omnichannel technologies. The company operates 33 customer engagement centers and 3 customer acquisition centers globally, serving clients across multiple industries including healthcare, financial services, retail, travel, and telecommunications.
Business
IBEX operates in the customer experience outsourcing industry, which involves providing third-party services to help companies manage their customer interactions and support operations. The company offers three main service categories that work together to support the entire customer lifecycle. IBEX Connect represents the company's core customer engagement solution, encompassing traditional call center services such as customer service, technical support, and sales support. This includes voice-based support as well as digital channels like email, chat, SMS, and social media interactions. The service integrates multiple communication channels into a unified customer experience platform, allowing businesses to outsource their customer support operations while maintaining consistent service quality across all touchpoints. IBEX Digital focuses on customer acquisition through digital marketing services, e-commerce technology solutions, and platform development. This segment helps clients attract new customers through online channels and optimize their digital presence to drive revenue growth. IBEX CX provides a suite of proprietary software tools designed to measure, monitor, and manage customer experience metrics. This technology-driven approach allows clients to gain insights into customer satisfaction, agent performance, and operational efficiency. The company has strategically positioned itself in the "BPO 2.0" space by emphasizing digital-first services and AI integration. Digital and omnichannel services now represent approximately 80% of total revenue, reflecting the company's successful transition from traditional voice-only call center operations to comprehensive digital customer experience solutions. The company serves diverse industry verticals, with retail and e-commerce representing about 25% of revenue, healthcare technology around 15%, travel and logistics 14%, telecommunications 14%, and financial technology services 11%.
Competitive moat
IBEX operates in a highly competitive customer experience outsourcing industry with relatively low barriers to entry, suggesting a modest economic moat. However, the company has developed several competitive advantages that provide some defensive positioning. The company's primary moat comes from its geographic diversification and operational scale. IBEX operates delivery centers across multiple countries and time zones, allowing it to provide 24/7 coverage and geographic redundancy that smaller competitors cannot match. This operational footprint, built over several years, would be expensive and time-consuming for new entrants to replicate. Technology differentiation provides another layer of competitive protection. The company's Wave iX technology platform and growing AI capabilities, including AI Automate, AI Translate, and AI Authenticate solutions, help differentiate IBEX from traditional BPO providers. The company's early investment in AI technology and its integration into client operations creates switching costs and positions IBEX as a technology-forward partner rather than a commodity service provider. Client relationships and industry expertise represent additional moat elements. IBEX has achieved 100% retention among its top 20 clients and has built deep domain expertise in specific verticals like healthcare technology and financial services. These relationships often involve complex integrations and specialized knowledge that create switching costs for clients. However, the moat faces significant challenges. The BPO industry remains highly competitive with numerous large global competitors like Teleperformance, Concentrix, and others that have greater scale and resources. Competitive threats include larger competitors winning business through aggressive pricing, the ongoing automation trend that could reduce demand for human agents, and the potential for clients to bring operations back in-house as technology makes it easier to manage customer service internally. The company's moat is narrow but defendable in the near term, primarily through continued technology innovation, geographic expansion, and deepening client relationships in specialized verticals.
Risks & safety
IBEX demonstrates a moderate margin of safety with generally healthy financial metrics but some areas of concern. **Liquidity and Solvency:** - Cash position of $13.0 million as of Q3 2025, down from $62.7 million in Q4 2024, indicating significant cash usage - Current ratio of 1.67x provides adequate short-term liquidity coverage - Free cash flow of $3.6 million in Q3 2025, positive but volatile across quarters - Debt-to-equity ratio of 0.74x represents manageable leverage levels **Valuation Metrics:** - Price-to-earnings ratio of 7.7x appears attractive for a growing technology services company - EV/EBITDA of 5.7x suggests reasonable valuation relative to cash flow generation - Price-to-book ratio of 2.6x reflects market recognition of intangible assets and growth prospects **Other Considerations:** - Revenue growth has accelerated to 11% year-over-year, indicating business momentum - EBITDA margins around 13-14% are healthy for the industry - Geographic concentration in emerging markets creates some operational and currency risks - Client concentration, while improved, still presents revenue volatility risk
Recent development
Over the past few years, IBEX has undergone a significant strategic transformation from a traditional BPO provider to an AI-powered, digital-first customer experience company. The company has branded this evolution as "BPO 2.0," emphasizing technology integration and higher-value services. The most significant development has been the company's AI initiative launch. IBEX introduced its Wave iX AI platform with three core solutions: AI Automate for handling low-complexity customer interactions, AI Translate for real-time multilingual support, and AI Authenticate for enhanced security verification. The company reports over 75 AI opportunities in its pipeline and has begun moving from pilot programs to full production deployments, with enterprise-level wins expected to be revenue accretive. Geographic expansion represents another key strategic move. The company entered the India market for a leading healthcare client, expanding its offshore delivery capabilities. This expansion supports the broader strategy of shifting more revenue to higher-margin offshore and nearshore locations, which now represent 77% of total revenue compared to lower percentages in previous years. The company has also focused on client diversification and vertical specialization. IBEX won 18 new client relationships in fiscal 2024 and has continued this momentum with additional new logo wins. The company has achieved particularly strong growth in healthcare technology (20% year-over-year growth) and travel/logistics (19% growth), while reducing dependence on telecommunications and financial technology clients. Capital allocation strategy has evolved to include shareholder returns. The company launched a $15 million share repurchase program and has been actively buying back shares, reducing the share count by approximately 8% through strategic repurchases. This represents a shift toward returning capital to shareholders while maintaining investment in growth initiatives. The company has also strengthened its leadership team by adding three new board members with industry and AI expertise, and hiring Eric Guarro as SVP of Digital Transformation to lead technology initiatives.
IBEX company profile · for informational purposes only — not investment advice.
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