IBEX Limited

Welcome to the IBEC second quarter FY2025 earnings conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. After the speaker's presentation, there will be a question and answer session. To ask a question, please press star 1-1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1-1 again. To note, there is an accompanying earnings deck presentation available on the IBEX Investor Relations website at investors.ibex.co. I will now turn this conference over to Mr. Michael Darwall, Head of Investor Relations for IBEX.

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 second quarter fiscal year 2025 results. I'd like to start by once again thanking my team for a tremendous quarter They continue to show why they are the best in the industry. The second quarter was strong across the board. We achieved our highest growth in two years at 6.1%. This enabled us to post the highest revenue for a quarter in the history of IBEX. In addition, we had another great quarter on profitability. and now have improved adjusted EBITDA margin over the prior year in 10 out of the last 11 quarters. Our top line growth starts with the success of our powerful new logo engine and our ability to highlight our differentiation, enabling us to win large enterprise deals with trophy brands. Our growth is then accelerated by our ability to take market share within our embedded-based clients, driven by our ability to outperform the competition. This is our proven land and expand playbook. Also important to our success is our high client retention, where our revenue retention rates are some of the highest in the industry, highlighting our ability to be a strategic partner with our clients. We also had important wins with our Wave IX Translate and Automate generative AI solutions that position us well into the future. These wins added to an extremely strong quarter. More on this later. These growth vectors continue to be our margin expansion drivers. We continue to grow aggressively in both our highest margin regions exemplified by 14% year-over-year growth in our offshore region in Q2, and in our highest margin services, highlighted by 8% year-over-year growth in omnichannel revenue in Q2. These vectors have enabled us to expand adjusted EBITDA margin consistently. As a result, we remain confident in our ability to continue to drive top-line growth and expand margin. I am proud to report the following highlights for Q2 FY25. We delivered record Q2 revenue of $140.7 million, up 6.1% from a year ago. We expanded adjusted EBITDA margin 100 basis points from prior year to 11.8%. while delivering record Q2 adjusted net income of $9.6 million, up 20% from a year ago. We achieved adjusted EPS of $0.59, up 36% from a year ago. We closed five new logos in the quarter for a total of eight year to date. Several of these new wins include both traditional agent support and innovative generative AI deployments. demonstrating the power of our differentiated solutions. We executed the strategic repurchase of approximately 3.6 million shares from TRGI, enabling us to eliminate our status as a controlled company within the NASDAQ definition. This will provide better independence for us as a company. And we bolstered our board of directors with the additions of JJ Zhuang, Patrick McGinnis and Karen Baden-Bakal, who bring a strong industry and AI talents. Lastly, we had a great quarter, winning opportunities and launches with our Wave IX AI solution stack, placing IBEX ahead of the market as we turned the quarter into our fiscal Q3. We are winning with both AI Translate and AI Automate solutions. These mark significant milestones for IBEX as we continue to redefine the customer experience for many of our clients. As a reminder, our Wave IX AI Translate solution is a disruptive solution that displaces old world third party language translation service bureaus. As an example, for one of our hospitality clients, we are able to have our English-speaking agents provide multilingual support utilizing AI for real-time translation. This eliminates the need to augment our trained customer service agents with additional language translation-only agents, providing a game-changing solution that significantly improves the customer experience and reduces unnecessary costs. This has already been positively seen by clients across the multitude of industry segments and is 100% accretive to revenue and profitability. Our Wave IX offering also includes our AI Automate solution, where we leverage our deep analytics and AI to automate low complexity call types. This is an enterprise wide solution meaning we are providing 100% of the automated support for our clients. So in implementations where IBEX is one of multiple BPOs providing contact center services, which is the high majority of our engagements, we see this as both incremental to revenue and margin while further enhancing our trusted partner status with our clients. As a result, we are increasing our stickiness with our clients and expanding our competitive mode. And this positions us extremely well as we look out over the next several years. In summary, we are bullish on the trajectory as we move into the second half of FY25. We believe our business is well positioned today for continued growth, strong EPS, and one where we lead the competition from an AI perspective. Our ability to win on the big stage with trophy clients against our much larger competitors is the staple of IBEX. I am extremely proud of the business we have built, and I 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 second quarter FY25 financials and guidance. Taylor?