Ibex Ltd

ibex.co

What Do They Do?

Provides outsourced customer service, technical support and back-office services, alongside digital marketing and AI-powered customer experience tools, to digital-first companies and established brands.

How Do They Make Money?

Clients are invoiced monthly for contact-center services, priced by billable minutes or hours and agreed rates; digital services earn revenue when a consumer activates or purchases a client's service.

FY2026 revenue

Who Are Their Customers?

Clients include digital-first companies in technology, e-commerce and consumer services, as well as established brands in telecommunications, cable, financial services and healthcare. They engage through master services agreements and statements of work.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2025: 11% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2026 and turned 5 cents into free cash flow.

Operating income, FY2026

9% of revenue

▲ +18% vs FY2025 ($46.6M, 8%)

Net income, FY2026

7% of revenue

▲ +26% vs FY2025 ($36.9M, 7%)

Free cash flow, FY2026

5% of revenue

▲ +14% vs FY2025 ($27.3M, 5%)

How Are They Changing?

Growing. Revenue grew 31% in 4 years, from $492.9M in FY2022 to $644.1M in FY2026, about 7% a year.

AI-enabled service offering The older report describes WaveX as a technology platform for agent interactions and insights; the latest report presents Wave iX as a managed AI-powered customer experience offering, including virtual agents and real-time translation.

Comments