Ibex (IBEX) Q1 FY2027 earnings: revenue $175 million, up 15.9% on the year

Ibex Ltd. (IBEX) reported revenue of $175 million for Q1 FY2027, the quarter ended 30 September 2026, up 15.9% on the same quarter a year earlier. Net income was $15 million, up 22.7% on the year, and diluted earnings per share $0.99. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$175 million

+15.9% on the year · +6.7% on the quarter

Q2 FY2025Q1 FY2027

Operating margin

10.4%

9.1% a year earlier

Q2 FY2025Q1 FY2027

Net income

$15 million

+22.7% on the year · +68.9% on the quarter

Q2 FY2025Q1 FY2027

Diluted EPS

$0.99

+20.7% on the year · +67.8% on the quarter

Q2 FY2025Q1 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised.

Revenue rose 15.9% to $175.2 million: Revenue was $175.2 million, up 15.9% from $151.2 million, with growth across four verticals plus digital acquisition and AI Agent solutions.
Adjusted EPS rose to $1.10: Adjusted diluted EPS was $1.10 against $0.90, up 21.2%. Diluted EPS was $0.99 against $0.82, up 19.6%. Net income was $14.8 million against $12.0 million.
Adjusted EBITDA rose to $25.2 million: Adjusted EBITDA was $25.2 million against $19.5 million, up 29.4%. Management called it the highest adjusted EBITDA quarter in the company's history.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Revenue	175	164	151	+6.7%	+15.9%
Cost of revenue	122	117	107	+3.9%	+14.4%
Gross profit	53.3	46.9	44.6	+13.5%	+19.4%
Gross margin	30.4%	28.6%	29.5%
Selling, general and administrative	30.1	31.5	26.5	-4.4%	+13.5%
Operating income	18.3	9.8	13.7	+86.2%	+33.5%
Operating margin	10.4%	6.0%	9.1%
Interest expense	0.2	0.2	0.2	-10.4%	-8.3%
Pre-tax income	18.3	9.7	13.5	+88.0%	+35.2%
Income tax	3.5	1.0	1.5	+260.1%	+137.1%
Effective tax rate	19.1%	10.0%	10.9%
Net income	14.8	8.7	12.0	+68.9%	+22.7%
Net margin	8.4%	5.3%	8.0%
Diluted EPS	$0.99	$0.59	$0.82	+67.8%	+20.7%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Operating cash flow	16.3	24.8	15.7	-34.2%	+4.2%
Capital expenditure	7.2	3.2	7.6	+126.5%	-6.2%
Free cash flow	9.2	21.7	8.0	-57.7%	+14.1%
Free cash flow margin	5.2%	13.2%	5.3%
Cash from investing	-7.2	-3.2	-7.6
Cash from financing	-5.0	-4.5	-0.6
Depreciation and amortisation	4.9	5.6	4.4	-13.4%	+11.3%
Share-based compensation	2.9	3.3	2.5	-10.6%	+15.2%
Buybacks	4.5	4.2	2.8	+5.5%	+62.1%
Diluted shares, weighted	15m	15m	15m	+0.7%	+2.6%
Shares outstanding at period end	13m	13m	13m	-0.0%	-0.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Shareholders' equity	182	170	144	+6.6%	+26.4%
Debt	0.8	0.8	0.7	+0.6%	+7.7%
Operating lease liabilities	47.8	46.8	50.7	+2.0%	-5.7%
Finance lease liabilities	0.8	0.8	0.7	+0.6%	+7.7%
Other liabilities	102	90.5	88.1	+12.3%	+15.4%
Total liabilities and equity	333	309	284	+7.6%	+17.2%
Goodwill	11.8	11.8	11.8	0.0%	0.0%
Cash and equivalents	36.7	32.6	22.7	+12.7%	+61.7%
Receivables	136	125	116	+8.8%	+17.5%
Other assets	148	139	133	+5.9%	+10.8%
Total assets	333	309	284	+7.6%	+17.2%

Questions

What was Ibex's revenue in Q1 FY2027?

Ibex (IBEX) reported revenue of $175 million for Q1 FY2027, the quarter ended 30 September 2026, up 15.9% on the same quarter a year earlier.

How much did Ibex earn in Q1 FY2027?

Net income for Q1 FY2027 was $15 million, up 22.7% on the year, and diluted earnings per share $0.99.

When did Ibex report Q1 FY2027 results?

Ibex filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 17 quarters

	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	128	139	132	124	125	133	127	125	130	141	141	147	151	164	164	164	175
Cost of revenue	96.2	99.8	91.7	87.4	88.2	95.9	87.1	85.4	90.0	98.8	96.0	101	107	117	116	117	122
Gross profit	31.7	39.5	39.9	37.1	36.4	36.8	39.7	39.2	39.7	41.9	44.7	46.3	44.6	47.6	48.8	46.9	53.3
Gross margin	25%	28%	30%	30%	29%	28%	31%	31%	31%	30%	32%	31%	30%	29%	30%	29%	30%
SG&A	19.3	23.5	22.1	23.7	23.0	24.9	23.6	21.7	26.2	25.7	27.1	29.8	26.5	27.6	27.5	31.5	30.1
Operating income	7.7	11.5	13.1	8.3	8.3	6.9	11.3	12.9	9.1	11.9	13.3	12.3	13.7	15.3	16.2	9.8	18.3
Operating margin	6%	8%	10%	7%	7%	5%	9%	10%	7%	8%	9%	8%	9%	9%	10%	6%	10%
Interest expense	0.1	0.3	0.1	n/a	0.1	0.1	0.1	0.2	0.2	0.6	0.4	0.4	0.2	0.2	0.2	0.2	0.2
Pre-tax income	7.6	11.3	13.2	8.3	8.8	7.3	11.6	13.2	9.5	11.6	13.0	11.8	13.5	15.1	16.0	9.7	18.3
Tax rate	14%	18%	14%	46%	16%	17%	11%	26%	21%	20%	19%	19%	11%	19%	17%	10%	19%
Net income	6.5	9.3	11.3	4.5	7.4	6.1	10.3	9.8	7.5	9.3	10.5	9.6	12.0	12.2	13.3	8.7	14.8
Net margin	5%	7%	9%	4%	6%	5%	8%	8%	6%	7%	7%	7%	8%	7%	8%	5%	8%
Diluted EPS	$0.35	$0.49	$0.60	$0.24	$0.39	$0.33	$0.57	$0.56	$0.43	$0.57	$0.73	$0.66	$0.82	$0.83	$0.89	$0.59	$0.99
Operating cash flow	5.6	5.3	13.6	17.4	8.7	-1.6	11.4	17.4	7.8	1.1	8.8	27.9	15.7	6.6	11.9	24.8	16.3
Capital expenditure	3.6	7.9	3.7	3.7	2.1	2.9	1.7	2.2	3.6	4.3	5.3	5.2	7.6	11.7	5.3	3.2	7.2
Free cash flow	2.0	-2.7	9.8	13.7	6.6	-4.5	9.7	15.2	4.1	-3.2	3.6	22.8	8.0	-5.1	6.6	21.7	9.2
Buybacks	0.3	0.0	0.0	0.0	1.8	8.4	8.3	3.0	4.8	46.6	25.1	1.6	2.8	2.8	4.6	4.2	4.5
Dividends paid	0.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	18m	18m	18m	18m	18m	18m	17m	17m	17m	13m	13m	13m	13m	13m	13m	13m	13m
Filing	10-K	10-K	10-K	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.