IBEX Ltd
For the period ended Jun 30, 2024. Filed Sep 12, 2024.
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FY2024 · Filed Sep 12, 2024
IBEX$52.23+3.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| June 30,2024 | June 30,2023 | June 30,2022 | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $33,655 | $31,582 | $21,456 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 19,461 | 18,985 | 18,100 |
| Noncash lease expense | 13,205 | 14,456 | 14,066 |
| Warrant contra revenue | 1,183 | 1,090 | 970 |
| Deferred income tax provision / (benefit) | 344 | 4,529 | (5,170) |
| Share-based compensation expense | 3,765 | 4,606 | 1,851 |
| Allowance of expected credit losses | 33 | 295 | — |
| Impairment losses | 1,532 | — | — |
| Loss on lease terminations | — | 251 | — |
| Gain on sale of subsidiaries | — | (246) | — |
| Change in assets and liabilities: | |||
| Increase in accounts receivable | (12,068) | (12,297) | (9,705) |
| (Increase) / decrease in prepaid expenses and other current assets | (7,517) | 1,467 | 3,551 |
| (Decrease) / increase in accounts payable and accrued liabilities | (2,246) | (3,753) | 2,307 |
| (Decrease) / increase in deferred revenue | (1,919) | (4,797) | 5,506 |
| Decrease in operating lease liabilities | (13,528) | (14,309) | (12,926) |
| Net cash inflow from operating activities | 35,900 | 41,859 | 40,006 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchase of property and equipment | (8,855) | (18,952) | (25,919) |
| Cash outflow from sale of subsidiaries, net of cash received | — | (85) | — |
| Net cash outflow from investing activities | (8,855) | (19,037) | (25,919) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from line of credit | 238 | 43,448 | 88,117 |
| Repayments of line of credit | (291) | (54,597) | (99,227) |
| Repayment of debt | — | (3,795) | (6,834) |
| Proceeds from the exercise of options | 366 | 2,053 | 35 |
| Principal payments on finance leases | (490) | (447) | (818) |
| Purchase of treasury shares | (21,556) | (276) | (3,406) |
| Net cash outflow from financing activities | (21,733) | (13,614) | (22,133) |
| Effects of exchange rate difference on cash and cash equivalents | (21) | (610) | (965) |
| Net increase / (decrease) in cash and cash equivalents | 5,291 | 8,598 | (9,011) |
| Cash and cash equivalents at beginning of the year | 57,429 | 48,831 | 57,842 |
| Cash and cash equivalents at end of the year | $62,720 | $57,429 | $48,831 |
| Supplemental cash flow disclosures | |||
| Cash paid for interest | $514 | $152 | $1,246 |
| Cash paid for income taxes | $7,688 | $4,283 | $2,160 |
| Supplemental non-cash disclosures | |||
| Change in accounts payable related to fixed assets | $(548) | $(621) | $1,631 |
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