IBEX Limited Q1 2027 Earnings Recap

IBEX shares rose 15.2% after fiscal Q1 revenue increased 16% to a quarterly record of $175.2 million, with adjusted EBITDA margin expanding 150 basis points to 14.4%. New-logo wins and AI-related momentum were notable growth drivers.

Key Takeaways

• The company reported record quarterly revenue of $175.2 million and said it was its seventh consecutive quarter of double-digit growth.
• Adjusted EBITDA margin reached 14.4%, up 150 basis points year over year; management also cited record net income, adjusted net income, EPS, adjusted EPS, operating cash flow and free cash flow.
• Four traditional BPO logos were signed in the quarter. Since quarter-end, IBEX said it had won four AI-agent deals and secured verbal wins on three more traditional BPO opportunities, which it expects to launch this quarter.
• New-logo cohorts from FY26 and Q1 FY27 contributed approximately 50% of quarterly revenue growth. Revenue from the top five, top 10 and top 25 clients rose 14%, 13% and 18%, respectively; client and revenue retention remained above 99%.
• The call also highlighted execution risk and opportunity in AI: a fiber-provider deployment reduced abandoned calls by more than 60%, and IBEX said it expects to take over that client’s traditional call-center work by the end of December.