IBEX Ltd
For the period ended Sep 12, 2024. Filed Sep 12, 2024.
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Sep 12, 2024 · Filed Sep 12, 2024
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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: non-recurring expenses (including domestic filer conversion and legal and settlement costs), severance costs, impairment losses, interest income, warrant contra revenue, foreign currency gains, share-based compensation expense, gain on sale of subsidiaries, and loss on lease terminations. 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 and net income margin to adjusted EBITDA and adjusted EBITDA margin for the periods presented:
| Three months endedJune 30, | Twelve months endedJune 30, | |||
|---|---|---|---|---|
| ($000s) | 2024 | 2023 | 2024 | 2023 |
| Net income | $9,845 | $4,510 | $33,655 | $31,582 |
| Net income margin | 7.9% | 3.6% | 6.6% | 6.0% |
| Interest expense | 175 | 239 | 514 | 792 |
| Income tax expense | 3,391 | 3,806 | 7,331 | 8,744 |
| Depreciation and amortization | 4,608 | 5,052 | 19,461 | 18,985 |
| EBITDA | $18,019 | $13,607 | $60,961 | $60,103 |
| Non-recurring expenses | — | 1,348 | — | 2,224 |
| Severance costs | 115 | — | 1,621 | — |
| Impairment losses | 275 | — | 1,532 | — |
| Interest income | (542) | (249) | (2,071) | (640) |
| Warrant contra revenue | 290 | 234 | 1,183 | 1,090 |
| Foreign currency gains | (1,244) | (379) | (1,815) | (801) |
| Share-based compensation expense | 1,024 | 633 | 3,765 | 4,606 |
| Gain on sale of subsidiaries | — | — | — | (246) |
| Loss on lease terminations | — | 251 | — | 251 |
| Adjusted EBITDA | $17,937 | $15,445 | $65,176 | $66,587 |
| Adjusted EBITDA margin | 14.4% | 12.4% | 12.8% | 12.7% |
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