Financial Data and Key Metrics Changes - Total revenue for Q4 reached $300 million, representing an 8% year-over-year growth [21] - Subscription revenue grew by 12% year-over-year in Q4, now making up 82% of total revenue, up from 79% a year ago [22] - Adjusted EBITDA margin increased to 26%, with free cash flow more than doubling year-over-year to a margin of 22% [10][24] - For the full year 2025, total revenue was $1.15 billion, growing 10% year-over-year, with subscription revenue growing 13% year-over-year [25] Business Line Data and Key Metrics Changes - Enterprise AI revenue growth accelerated to 50% year-over-year, contributing significantly to subscription revenue [21][22] - Core CCaaS subscription revenue growth accelerated to 8% year-over-year [21] - The number of $1 million-plus ARR customers grew subscription revenue by 24% year-over-year, now making up 59% of subscription revenue [22] Market Data and Key Metrics Changes - Gartner forecasts the traditional CCaaS market to grow at a 9% CAGR and the GenAI customer service market at a 34% CAGR through 2029, leading to a combined annual spend of $48 billion [11] - The enterprise business represented approximately 91% of total revenue on an LTM basis, with LTM enterprise subscription revenue growing 15% year-over-year [23] Company Strategy and Development Direction - The company aims to lead in AI-powered customer experience (CX) by leveraging conversational data and enhancing its end-to-end platform capabilities [11][13] - A strong focus on partnerships, particularly with Google Cloud, to accelerate AI-driven CX solutions [14][15] - The company is positioned to capitalize on the significant opportunity in the evolving CX industry, with a commitment to product innovation and operational excellence [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic challenges and highlighted the importance of AI in driving future growth [4][10] - The new CEO emphasized the large opportunity ahead for the company and the importance of a unified CX platform [8][9] - The company expects revenue to return to double-digit growth in the second half of 2026, driven by a strong backlog of bookings [28] Other Important Information - The company completed a $50 million accelerated share repurchase on February 2, buying back approximately 2.6 million shares [29] - The company plans to host an Investor Day in late 2026 to provide additional details on strategic priorities and long-term financial outlook [29] Q&A Session Summary Question: Can you help us understand the breakdown between greenfield and existing customer base for AI revenue? - Management indicated that both new logo attach and penetration into the installed base are growing significantly, but did not quantify the breakdown [32][33] Question: How do you see the transformation within the CX space? - The new CEO expressed optimism about the transformation in the CX space, emphasizing the potential for increased efficiency and new experiences through AI integration [40] Question: What sectors are seeing the highest uptake for new features? - Management noted strong success in healthcare and retail, with customers wanting to evolve their CX strategies to incorporate AI [52][54] Question: What percentage of your enterprise base is adopting AI? - Management stated that it is still early days for full penetration of AI within the customer base, but there is significant interest and ongoing adoption [58][59] Question: How do you think about the risk of LLM native platforms bypassing traditional CCaaS? - Management highlighted the importance of data and orchestration capabilities as competitive advantages that are difficult to replicate [62][64]

Core Insights - ibex will showcase its AI-powered customer experience (CX) solutions at the CCW Customer Contact Week in Las Vegas from June 9-12, 2025, highlighting its leadership in the industry [1][6] - The company emphasizes its combination of over 20 years of CX expertise with cutting-edge AI technology to enhance customer interactions and drive growth [2][4] - ibex will host a Fireside Chat on June 11, focusing on real-world AI implementation best practices, featuring industry leaders [2][8] Company Overview - ibex is a global provider of business process outsourcing (BPO) and AI-powered customer engagement technology solutions, operating approximately 30 facilities worldwide [4] - The company employs over 31,000 individuals and manages nearly 175 million customer interactions annually, contributing over $2.2 billion in lifetime customer revenue each year [5] Event Highlights - The CCW event will feature live demonstrations of ibex's Wave iX AI solutions, including the AI Virtual Agent and Wave iX Translate, which supports real-time interactions in over 150 languages [2] - The 2025 CX Leadership Awards will be presented at an exclusive dinner, recognizing individuals and companies that excel in customer engagement and experience [2][3]