IBEX Ltd
For the period ended May 8, 2025. Filed May 8, 2025.
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May 8, 2025 · Filed May 8, 2025
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Contents
EX-99.1 · EXHIBIT 2: EBITDA, adjusted EBITDA, and adjusted EBITDA margin
EXHIBIT 2: EBITDA, adjusted EBITDA, and adjusted EBITDA margin
EBITDA is a non-GAAP profitability measure that represents net income before the effect of the following items: interest expense, income tax expense, and depreciation and amortization. Adjusted EBITDA is a non-GAAP profitability measure that represents EBITDA before the effect of the following items: severance costs, impairment losses, interest income, warrant contra revenue, foreign currency gain / loss, andshare-based compensation expense. Adjusted EBITDA margin is a non-GAAP profitability measure that represents adjusted EBITDA divided by revenue.
The following table provides a reconciliation of net income to EBITDA and adjusted EBITDA and net income margin to adjusted EBITDA margin for the periods presented:
| Three Months Ended March 31, | Nine Months Ended March 31, | |||
|---|---|---|---|---|
| ($000s) | 2025 | 2024 | 2025 | 2024 |
| Net income | $10,469 | $10,310 | $27,268 | $23,810 |
| Net income margin | 7.4% | 8.1% | 6.6% | 6.2% |
| Interest expense | 404 | 124 | 1,186 | 339 |
| Income tax expense | 2,488 | 1,279 | 6,821 | 3,940 |
| Depreciation and amortization | 4,329 | 4,865 | 12,984 | 14,853 |
| EBITDA | $17,690 | $16,578 | $48,259 | $42,942 |
| Severance costs | — | 1,506 | — | 1,506 |
| Impairment losses | — | 1,257 | — | 1,257 |
| Interest income | (32) | (431) | (926) | (1,529) |
| Warrant contra revenue | — | 299 | — | 893 |
| Foreign currency loss / (gain) | 121 | (471) | 666 | (571) |
| Share-based compensation expense | 1,601 | 466 | 3,506 | 2,741 |
| Adjusted EBITDA | $19,380 | $19,204 | $51,505 | $47,239 |
| Adjusted EBITDA margin | 13.8% | 15.1% | 12.5% | 12.3% |
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