IBEX Ltd
For the period ended Sep 11, 2025. Filed Sep 11, 2025.
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Sep 11, 2025 · Filed Sep 11, 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 gains and losses, andstock-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 June 30, | Twelve months ended June 30, | |||
|---|---|---|---|---|
| ($000s) | 2025 | 2024 | 2025 | 2024 |
| Net income | $9,596 | $9,845 | $36,864 | $33,655 |
| Net income margin | 6.5% | 7.9% | 6.6% | 6.6% |
| Interest expense | 448 | 175 | 1,634 | 514 |
| Income tax expense | 2,247 | 3,391 | 9,068 | 7,331 |
| Depreciation and amortization | 4,248 | 4,608 | 17,232 | 19,461 |
| EBITDA | $16,539 | $18,019 | $64,798 | $60,961 |
| Severance costs | 558 | 115 | 558 | 1,621 |
| Impairment losses | 1,429 | 275 | 1,429 | 1,532 |
| Interest income | (29) | (542) | (955) | (2,071) |
| Warrant contra revenue | — | 290 | — | 1,183 |
| Foreign currency losses / (gains) | 27 | (1,244) | 693 | (1,815) |
| Stock-based compensation expense | 1,926 | 1,024 | 5,432 | 3,765 |
| Adjusted EBITDA | $20,450 | $17,937 | $71,955 | $65,176 |
| Adjusted EBITDA margin | 13.9% | 14.4% | 12.9% | 12.8% |
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