IBEX Limited

Thank you for standing by. My name is Hermione and I will be your conference operator today. At this time, I would like to welcome everyone to IBEX Limited First Quarter 2025 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. To note, there is company earnings deck presentation available on the ibex investor relations website at investors.ibex.com i will now turn this conference over to mr michael darwell head of investor relations for ibex please go ahead good afternoon and thank you for joining us today

Before we begin, I want to remind you that matters discussed on today's call may include forward-looking statements related to our operating performance, financial goals, and business outlook, which are based on management's current beliefs and assumptions. Please note that these forward-looking statements reflect our opinion as of the date of this call, and we undertake no obligation to revise this information as a result of new developments which may occur. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause our actual results to differ materially from those expected and described today. For a more detailed description of our risk factors, please review our annual report on Form 10-K filed with the U.S. Securities and Exchange Commission on September the 12th, 2024. With that, I will now turn the call over to IBEX CEO, Bob Deccan.

Thanks, Mike. Good afternoon, everyone, and thank you all for joining us today as we share our first quarter fiscal year 2025 results. Let me start my remarks by thanking my team for their continued fantastic performance. I believe they are the best in the industry. With our performance in the first quarter, we have now improved adjusted EBITDA margin over the prior year in nine out of the last 10 quarters. And in an industry that has recently been challenged growing top line, IBEX is one of the first BPOs to return to meaningful organic revenue growth, where we grew at 4.1% in the quarter. On top of that, the first quarter of FY25 was another record-setting quarter for IBEX, where we achieved first quarter bests across a number of key financial metrics, including revenue, net income, EPS, and EBITDA. Our growth was driven by great performance from our new logo team and new wins within our embedded-based clients as we outperform our competition and take market share. I am excited to report that our growth vector continue to be our margin expansion drivers as we grow our higher margin services and geographies, which represent nearly 80% of our overall business. As a result, we are confident in our ability to continue to drive top-line growth and margin expansion. We have built a culture of winning, one where we continue to demonstrate our unique ability to successfully punch above our weight and beat our much larger competitors. We have also differentiated ourselves from the competition by leveraging an unparalleled agent-first culture, paired with our award-winning Wave IX technology stack and our deep analytics capabilities. We are now extending our competitive moat with cutting-edge AI solutions. Let me highlight some of the key results we delivered in Q1. We delivered record Q1 revenue of $129.7 million, up 4.1% from a year ago. This was driven by market share growth in many of our top clients and scaling many of the 18 new logo clients we won last year. On top of that, we won and launched three new client relationships in the quarter and are having early success in the current quarter. The signature win was with one of the largest e-commerce companies in the world, where we are rapidly scaling global English support for their customers worldwide out of our offshore footprints. We expanded year-over-year adjusted EBITDA margin for the ninth time in the last 10 quarters, delivering a 12% adjusted EBITDA margin while setting record Q1 net income of $7.5 million. We achieved record adjusted EPS of $0.52, up 30% from $0.40 a year ago. And with our strong free cash flow and balance sheet, we were able to repurchase more than 280,000 shares at a cost of $4.7 million in the quarter. Again, I am so proud of the results that this team continues to deliver. We are having great success with our customer-facing Wave IX solutions we call AI Automate, AI Translate, and AI Authenticate. Last quarter, I announced our first significant win with AI Automate, for a leading mobile carrier. I'm excited to announce that we have won two additional AI opportunities this quarter. The first is a deployment of AI Automate to transform the customer experience for a new client. Our new client is also having us displace one of our largest competitors for their traditional BPO, agent-led customer support. we now have a tightly integrated end-to-end solution for them. Our second AI win is with a leading travel-related client where we are providing AI Translate to do language translation services for a broad range of foreign languages. This solution will transform their customer experience from old-world, third-party language translation to a new cutting-edge solution. I'm also proud to report that our AI Translate solution has recently earned the 2024 Generative AI Product of the Year Award. Lastly, I'm also proud to report that IBEX was named number two for America's Best Employers for Tech Workers by Fortune Magazine, beating out companies like Salesforce, Microsoft, and many others. In summary, We are excited with our trajectory as we move forward into FY25. We believe our business is positioned for consistent growth, continued strong EPS, and free cash flow, and one where we lead the competition from an AI perspective. As I have previously stated, our ability to win big with high-profile brands is the staple of IBEX. We expect this to continue throughout FY25 and beyond. With that, I will now turn the call over to Taylor to go into more details on our first quarter FY25 financials and guidance. Taylor?