Short answer
IBEX Ltd (IBEX) filed its fiscal 2026 10-K annual report with the SEC on Sep 10, 2026. It reported revenue of $644M (+15.4% year over year) and net income of $46M.
- Top risk flagged: Regulatory risk: compliance with evolving global data privacy laws including FTC, EU, UK rules impacting processing, security of personal data
FY2026 key financial metrics · XBRL
- Revenue
- $644M
- +15.4% YoY
- Net income
- $46M
- +25.7% YoY
- Operating margin
- 8.5%
- +0.2 pp YoY
- EPS (diluted)
- $3.13
- +32.6% YoY
- ROE
- 27.2%
- −0.2 pp YoY
- Operating cash flow
- $59M
- +29.2% YoY
Source: XBRL data from the IBEX Ltd (IBEX) FY2026 10-K on SEC EDGAR. USD.
IBEX Ltd FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: technology-enabled customer lifecycle experience (CLX) solutions including BPO, AI-powered customer engagement, digital marketing, and acquisition technology
- New emphasis: AI-led CX platform Wave iX with AI Virtual Agent and AI-powered real-time translation enhancing AI-human hybrid service model
- Strategic shift: reposition from traditional BPO to digital-first, AI-driven BPO 3.0 focusing on tech, culture, and integrated omni-channel delivery
- Workforce growth: 35,000 employees as of June 30, 2026, up 2,000 from prior year, with 97% capacity offshore/nearshore
- Notable: eNPS of 82 and client NPS of 71, reflecting top-tier employee engagement and client satisfaction in a largely commoditized industry
Management Discussion & Analysis
- Revenue $644.1M, up 15.4% YoY (+$85.8M), driven by HealthTech +38.5% (+$31.7M), Retail & E-commerce +14.1% (+$20.5M), Travel & Logistics +17.2% (+$13.3M)
- Net income $46.3M (+25.7%) with margin 7.2% vs 6.6% prior year; adjusted EBITDA margin 12.8% vs 12.9% prior year; operating margin 8.5% vs 8.3%
- Best performing segment HealthTech revenue +38.5% to 17.7% of total; worst Telecommunications segment revenue down 18.7% to 9.2% of total
- Operating cash flow $59.0M (+29.2%); capex $27.8M (+51.3%), focused on offshore expansions and IT; share repurchases $14.4M with $20M buyback authorized
- Management highlights leveraging AI innovations, offshore delivery optimization, and expects FY27 capex $25-30M; risks include wage inflation, macroeconomic uncertainty, and currency impacts
Risk Factors
- Regulatory risk: compliance with evolving global data privacy laws including FTC, EU, UK rules impacting processing, security of personal data
- Geopolitical risk: heavy dependency on Philippines, Jamaica, Pakistan, Nicaragua with exposure to political instability, natural disasters, frequent power outages
- Operational risk: reliance on third-party telecom, data providers and vulnerability to system failures, cyberattacks, and electricity outages in near-shore regions
- Competitive risk: AI-driven automation reducing demand for standardized services and challenge from competitors with advanced technology and scale
- Financial risk: customer concentration with top three clients accounting for 24% of revenue, top client 9%, risking material impact from client loss or contract termination
Generated from the filing text; verify against the original. How to read a 10-K
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