IBEX reported record fiscal 2026 revenue of $644.1 million, up 15.4% from $558.3 million, as the outsourced business services and AI-powered customer experience company generated double-digit growth and increased adoption of its AI-enabled solutions.
Full-year net income increased 25.7% to $46.3 million from $36.9 million, while diluted EPS increased 32.8% to $3.13 from $2.36.
Adjusted net income increased 21.3% to $52.2 million and adjusted diluted EPS increased 28.3% to $3.52. Adjusted EBITDA increased 14.5% to a record $82.4 million.
Fourth-quarter revenue reached a record $164.3 million, up 11.6%, marking IBEX’s sixth consecutive quarter of double-digit revenue growth.
Growth was led by HealthTech, where fourth-quarter revenue increased 42.3%, Technology at 27.4%, Travel, Transportation and Logistics at 17.8%, and Retail & E-Commerce at 7%.
Fourth-quarter net income declined to $8.7 million from $9.6 million, while diluted EPS decreased to $0.59 from $0.66. Management attributed the lower margin primarily to training costs associated with new client wins and the temporary impact of shifting work from nearshore to offshore delivery centers.
IBEX secured nine new client logos during the quarter, including two strategic AI Agent wins.
The company said it has now delivered more than 10 successful AI Agent implementations across five verticals as its partnership with conversational AI company Sierra expands.
Annual operating cash flow increased to a record $59.0 million from $45.7 million, while annual free cash flow increased to a record $31.2 million from $27.3 million.
IBEX ended the fiscal year with net cash of $30.9 million, up from $13.7 million a year earlier. It repurchased approximately 500,000 shares during fiscal 2026 for $14.4 million.
For fiscal 2027, IBEX expects revenue of $700 million to $715 million, representing growth of 9% to 11%. Adjusted EBITDA is expected to range from $90 million to $94 million, representing growth of 9% to 14%.
First-quarter revenue is expected at $168 million to $170 million, with adjusted EBITDA of $22 million to $23 million. Fiscal 2027 capital expenditures are projected at $25 million to $30 million.
KEY QUOTES:
“ibex delivered another record-breaking quarter with revenue growth of 12% to $164.3 million, our sixth straight double-digit growth quarter, capping off an amazing year with top-line organic growth of over 15%, and adjusted EPS growth of over 28%. Our differentiation continues to shine, enabling us to win new trophy clients and outperform our competition operationally which leads to significant market share gains. Fiscal 2026 also marked a transformational step forward as ibex defined a new era of BPO, one powered by AI agents. Our strategic partnership with Sierra, a leader in conversational AI, has firmly strengthened our leadership position in this evolving market. To date, we have delivered more than 10 successful AI Agent implementations across five verticals. Momentum continues to build for these solutions, further separating us from traditional BPO providers.”
Bob Dechant, Chief Executive Officer of IBEX
“Fiscal 2026 was a banner year that included record performance across many key operating metrics, including revenue, adjusted EBITDA, EPS, and free cash flow. Our financial results were driven by consistent performance throughout the year, supported by our differentiated strategy and increased traction in our AI-enabled solution offerings. Looking ahead, this momentum gives us confidence that our strategy will continue generating results that outpace our market as we head to fiscal year 2027.”
Taylor Greenwald, Chief Financial Officer of IBEX
