IBEX(US:IBEX)2022-09-22 20:35Revenue Growth - Fourth quarter revenue increased 13.6% to $123.7 million compared to the prior year quarter[4] - Fiscal year 2022 revenue increased 11.2% to $493.6 million compared to $443.7 million in the prior year[4] - Revenue generated from clients won since fiscal year 2016 grew 43% and represented 74% of total revenue in the fourth quarter[4] - First quarter 2023 organic revenue is projected to be between $124 million and $127 million, with a midpoint growth of 15.6% versus the prior year quarter[17] - Revenue for the three months ended June 30, 2022, was $123,707 thousand, an increase of 13.5% compared to $108,878 thousand for the same period in 2021[23] Profitability - Fiscal year 2022 net income increased to $23.0 million compared to $2.8 million in the prior year[4] - Net income for the year ended June 30, 2022, reached $22,990 thousand, a significant increase from $2,847 thousand in 2021, representing a growth of 708.5%[23] - The basic earnings per share for the year ended June 30, 2022, was $1.26, compared to $0.16 in 2021, reflecting a substantial increase of 687.5%[23] - Adjusted net income for Q3 2022 was $7,878,000, representing a 36.5% increase from $5,774,000 in Q3 2021, with an adjusted net income margin of 6.4%[25] - The company reported a net income margin of 4.0% for Q3 2022, compared to 3.7% in Q3 2021[25] Cash Flow - Cash flow from operations in the fourth quarter increased to $27.8 million compared to $1.8 million in the prior year quarter[7] - Free cash flow for the fourth quarter increased to $25.1 million compared to ($3.2) million in the prior year quarter[11] - Operating cash inflow for the year ended June 30, 2022, was $50,129 thousand, compared to $25,897 thousand in 2021, indicating a growth of 93.5%[24] - The company reported net cash provided by operating activities of $27,849,000 for Q3 2022, compared to $1,778,000 in Q3 2021[28] - Free cash flow for Q3 2022 was $25,142,000, a significant improvement compared to a negative free cash flow of $(3,174,000) in Q3 2021[28] Financial Position - Total assets as of June 30, 2022, amounted to $290,137 thousand, up from $274,287 thousand in 2021, reflecting a growth of 5.8%[22] - Total equity increased to $100,289 thousand in 2022, compared to $80,659 thousand in 2021, marking a rise of 24.3%[22] - Total current liabilities decreased to $102,367 thousand in 2022 from $105,715 thousand in 2021, a reduction of 3.2%[22] - Total debt as of June 30, 2022, was $104,736,000, a decrease from $112,516,000 in 2021, while net debt increased slightly to $55,905,000 from $54,674,000[30] Margins and Expenses - Non-GAAP adjusted EBITDA margin increased to a record 15.1% in the fourth quarter compared to 14.6% in the prior year quarter[4] - Adjusted EBITDA for the year ended June 30, 2022, was $66,836,000, slightly up from $66,244,000 in 2021, with an adjusted EBITDA margin of 13.5%[26] - EBITDA for Q3 2022 reached $15,393,000, up from $13,491,000 in Q3 2021, resulting in an EBITDA margin of 12.8%[26] - The company incurred finance expenses of $2,202,000 in Q3 2022, compared to $2,111,000 in Q3 2021[26] - The company reported a finance expense of $8,797 thousand for the year ended June 30, 2022, slightly down from $9,034 thousand in 2021[23] Client Base and Diversification - The Telecom vertical now represents 18.1% of annual revenue, down from 29.3% in the prior year, indicating client base diversification[11] - The company’s deferred revenue increased to $12,593 thousand in 2022 from $7,087 thousand in 2021, representing a growth of 77.5%[22] Shareholder Information - The weighted average shares outstanding for Q3 2022 were 18,147,541, resulting in adjusted fully diluted earnings per share of $0.43[25] - Non-recurring expenses for Q3 2022 totaled $1,502,000, down from $2,364,000 in Q3 2021[26]