IBEX earnings analysis
What we found in IBEX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
IBEX reported a strong Q3 2026 with revenues of $164.4 million, a 16.8% increase year-over-year, exceeding estimates and leading to an EPS of $0.91. Growth was driven by key verticals such as HealthTech and Technology, while operating margins improved to 9.8%. The company raised its full-year revenue guidance to $638-$642 million from $620-$630 million, reflecting confidence in ongoing operational strength.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Record Revenue Growth
- Revenue reached $164.4 million, a 16.8% increase from $140.7 million in the prior year.
- Earnings Surpass Expectations
- EPS for Q3 was $0.91, exceeding estimates of $0.85 and up from $0.73 last year.
- Improved Operating Margin
- Operating margin increased to 9.8%, up from 9.5% in the previous year.
- Increased Full-Year Guidance
- Revenue guidance raised to $638-$642 million from previous $620-$630 million.
- Strong Performance Across Verticals
- HealthTech grew by 53.7%, contributing significantly to revenue growth.
- Free Cash Flow Increase
- Free cash flow improved to $6.6 million compared to $3.6 million in the prior period.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Geopolitical Risks
- Ongoing global geopolitical tensions could impact business operations and client demand.
- Labor Cost Increases
- Increased wage pressures could potentially squeeze margins further.
- Dependence on Key Clients
- Client concentration risk remains, as the largest client accounts for 10% of revenue.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.91
- Operating margin
- 9.8%
- Segment
- HealthTech
- Segment
- Technology
- Segment
- Retail & E-commerce
- Segment
- Travel, Transportation & Logistics
- Segment
- Telecommunications
- Segment
- Other
What they said about what is next.
Full-year revenue guidance increased to $638-642 million from prior guidance of $620-630 million.
The filing reads better than the one before it.
What came before.
- 10-Q · May 8, 2025
- IBEX reported a strong recovery in Q3 FY2025, achieving a revenue of $140.7 million, which was a notable increase of 10.2% from the prior quarter and a robust 10.9% year-over-year. Gross margin improved to 31.8%, and…
- 10-Q · May 9, 2024
- IBEX reported revenue of $126,795,000 for the three months ended March 31, 2024, down from $131,557,000 a year earlier. Income from operations fell to $11,282,000 and diluted EPS was $0.57 (down from $0.59). Operating…
- 10-K · September 13, 2023
- IBEX positions itself as a technology-led BPO ("BPO 2.0") leveraging the WaveX platform to move clients from commoditized call-center services to digital-first omnichannel CX. The filing highlights scale (~24,000…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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