IBEX - Earnings call 1 2024

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Operator

Welcome to the IBEX First Quarter 2024 Earnings Conference Call. [Operator Instructions] To note, there is an accompanying earnings deck presentation available on the investor -- IBEX Investor Relations website at investors.ibex.co.I will now turn the conference over to Mr. Michael Darwal, Deputy CFO and Investor Relations of IBEX. Please go ahead.

Michael Darwal

Good afternoon, and thank you for joining us today.

business want may you to and include performance, goals I on matters our assumptions. begin, based financial call are today's forward-looking and we to current that remind discussed operating on Before management's which beliefs outlook, statements related of to to new Please date subject revise those statements risks, as result forward-looking of this today. which other could of these we may factors are and that and expected results cause reflect our information call, note as uncertainties and our undertake developments, described occur.Forward-looking from opinion to various statements the this no obligation that materially differ a actual

more annual Exchange Securities a please and description Form factors, on the risk review report XX, September U.S. For Commission our XXXX. of XX-K detailed our on filed with

of the over as GAAP a on X, IFRS standard.With will July are IBEX. became that, from previous XXXX, Dechant, U.S. and filer a the call reminder, I a to turn As Bob domestic CEO reporting of basis than rather we now

Robert Dechant

continues quarter, afternoon, Mike. our the proud share with we perform. objectives for all us in joining EBITDA fiscal you, thank end our you high the on our while everyone, line as our Thank first well business how and of guidance. results. In coming I'm today quarter of we XXXX extremely guidance delivered our and achieving to key Good revenue margin

in EBITDA million and on of we straight seventh the opportunities high-margin fifth business EBITDA nearshore services capitalize higher-margin our quarter offshore Adjusted continue of More year-over-year to and margin improvement, were consecutive adjusted geographies. and execute, our year-over-year from more quarter with portions strengthen up flow, to to position.QX an driven of year.We Revenues by adjusted importantly, finishing the of onshore generated free of triple regions. growth EBITDA FY and quarter to million IBEX migrate $X.X from growth $XX.X to prior cash increased continues to is million debt-free from quarter, for and as year to net million $XXX.X adjusted quarter improved $X.XX is market our cash prior million. than income sheet 'XX million, our $XX.X $X.X $X.X consistently our while continued EPS $X.XX the outstanding that adjusted increased XX balance net with a points year-on-year position quarter, in basis X% XX%, and the

XX%. margin rate generate cash our and trajectory ability of maintaining nearly sheet an EBITDA of overall flow free We standpoint, sales enviable to balance its us deal consistent flow and outstanding conversion is Our strong and our to that improvement client wins free resuming flow. puts of position.From adjusted our cash was pipeline pace and believe an an competitive in

with in now and fast AI-based has demonstrating new large new and geography, our wins is a fiscal to We in the the competitive solution. nearshore our ability serve. engine, diverse QX.Our markets growth X a historically our quarter be Philippines our BPO Jamaica deals. in one X off late to launching across other provincial one care region centered wins, retail in our Of all including excited brands, ability automotive powerful services, continues we win capabilities. around began X.X our logo bring advanced start. verticals, I'm been very are to report to brand that technology to competitive by Both advantage in X And our the recently, highly more impressive these is QX. client in into one key Fortune first that carried Our fueled health financial XXX vertical transportation XXXX with the we won have in and and blue-chip to and

half X of scale these to expect second the in 'XX. clients We FY

continue and pipeline, which year omnichannel our integrated XX% Additionally, strong is our these and IBEX our clients fiscal all outperform business, in well XX% ago.With brand of we now the first wins confident for execute a new ability support, and its overall remain consistently to across we continues our new business geographies to and win our from our expand higher-margin Operationally, year. transformative digital competition. throughout up to

only clients not point to to ability Our them but our land deliver. strong with to expand a ability of proof new is operationally

for our start as in As on a customer exceptional geographies nearly strong today, X to them clients, a point, our top with operate and our our quarter, typically experience. operating discussed client access I our strategy average for trusted proxy one ability this we view We them. grow geography in AI performance. partner in X.X regions based deploying improve and with XX for and data on distinct last we a our experiences then We in all deliver clients for for to our performance clients customer the a being to new regions.Now

agent the generative frontline make been we to set. is our deploying more where of access part X first productive agent The Wave have AI on the as tool focused

enabling chat customer. intelligence Second where better, our is third calls digital where as us solutions SMS. we and moving And clients such been deep to our we use our where more is AI we a voice digital working from chatbots.This generative as such deploy contacts evolution actionable third and and contacts transformation provide offering, prong voicebots to to insights analytics automate with AI in further is business with have into the of

customer this with we earlier automation, demonstrate opportunity higher-margin our building now digital-first an referenced experience on IBEX. agent solutions that was I using solution are growing believe one from experience. new services.From to AI, We tech strength the our We that key we standpoint, solution into to This have smart the can also ability to speed and I have as deliver opportunities. we in platform creating than of are even acquired continue these growth program, an the are example, now recent will higher-margin move and CX we generation want announced voice and XX highlight to solutions as we the solution Wave AI this the like chatbots, digitally an We of of an And helping Genesis us unique our a AI-powered live quickly seamless in IVR and includes transform conversational valuation existing this the generative our our AI clients. digital to new is to client service. our given these attractive We where we this win current We integrated our more and of than both executing the in their next opportunities bullish over digital confidence our build shares use leveraged are next see more clients.As wave solutions back. a the on omnichannel capital we and a pipeline why as of are a a program transportation X. capital. risk. start and successfully agent. share of the differentiators buyback with which allocation XXX,XXX our as first automotive see new Since trajectory very see win We generative and see

for Additionally, actively expansion. client markets we exploring are new

value market growth.In capital to structure sheet is our strong Our market to business or our flow, over strengthening constructive will the generate look expand in employees, our the put expand debt-free our team for are of a to through and focused us Taylor? overall and turn for call environment and targeted to to continued make whether driving and small free and And financial to us use tuck-in investments finally, strong and a to and closing, footprint I shareholders.I clients position go our balance enabling by our results for Taylor our great my organically puts to guidance. to on now acquisition. cash us analyze geographical enabling

Taylor Greenwald

of million GAAP call adjusted a afternoon, Thank my revenue, you on you, net Reconciliations are in of as clients migrating changing XX% compared financial to geographies, and business to our from of declined the year for revenue release.We of cash while higher-margin to revenue, versus quarter U.S. terms flow non-GAAP while million in our representing our a U.S. a attached a are revenue delivery prior trend nearshore earnings cash offshore fiscal total measures quarter.Revenue we to of absorbed per quarter, In of EBITDA income continued the X.X% represents are XXXX and a income, on to continues joining flow start year cash GAAP clients, Bob, free first the and basis, free our ago, of results, press share, quarter. now omnichannel adjusted towards $XXX.X first earnings and in our offshore XX% our and fiscal versus mix non-GAAP impact $XXX.X and the now generated references strong year Thank good in XX% adjusted prior net today. to year revenues to and XX% comprise operations to year net lower-cost quarter services our discussions our and several in everyone. FinTech had digital basis. regions environment profitability solid tables a the included the total for

in and retail revenue prior The versus higher FinTech year offset in in prior strategic interest operating million income was partially vertical total, quarter, mix in million at quarter. $X.X offset $X.XX income HealthTech and tax $X.XX largely to net EPS by stronger the the year decline were verticals.Net year in increased in versus by geo in the interest the the growth expense. Looking increase primarily shift prior increased and in to our compared $X.X income driven to higher expense by results quarter.

results higher-margin SG&A increased top of concentrations mix first to in year and in revenue revenue XX% to IT, nearshore or to or XX%, EBITDA million tax XX% primarily year increased million earnings driven million non-GAAP annual by same X net and period $XX.X adjusted a our to for the of compliance sales, of margin support normalized the of higher on approximately increase expenses fully On effective to last our largely and $X.XX delivery. capacity EBITDA We XX% million compared quarter utilization the adjusted and the offsetting The increased revenue. XX $XX.X prior our marketing, fiscal per diluted XXXX, a omnichannel digital Non-GAAP investments at prior $X.X operating compared of adjusted were operational top mix for and was remained overall increased offshore XX.X% stronger $X.X income flat to expect and basis. benefits of growing year year rate to share respectively, client quarter. year. an in $X.XX delivery, higher be to these an increased basis, Partially increased in infrastructure quarter.Adjusted business.For the expenses for from compared

base client Our remains yet top client new entered client X XX as stable our list.

revenue our client we versus verticals. prior several year XX% year years revenue revenue diversify prior to of XX.X% logistics have e-commerce of quarter to proud hard quarter. quarter; made.Switching telecommunications are XX.X% base over the revenue of increased XX.X% worked in quarter. to progress in the our the first decreased XX.X% quarter. quarter and the increased increased transportation have quarterly to versus versus to Conversely, quarter We in to HealthTech prior last year XX.X% and exposure first our and XX.X% versus of of to year vertical and XX.X% the first the travel, prior in Retail

year generated investment revenue to new increased for landscape the the year results. to quarter for plants in to cash the in operating million XX.X% compared impacted economy from changing million quarter the primarily due $X.X decreased by FinTech quarter, platform stronger ].Net and $X.X the prior prior [ XX.X% crypto of operations versus for Additionally, to quarter,

cash $X.X X.X% after in negatively in completed built X Despite and larger shortly continue capacity the to versus quarter we DSOs industry bills the quarter previously million sequentially. of in million up the as of quarter utilization at quarter million Several during compared revenue million half cash the of Our out We from seat received we adjusted investment $XX.X strong to XXXX.The up or by of cash of revolving credit days as of free million pandemic. $XX.X impacted to driven free has ended current was improved continue in is quarter year. in September the of IBEX X.X% client mostly or be in ended flow available XXXX, nearly our from make the of borrowing $XX.X availability for expenditures used the facilities the following quarter. first the average.Capital to XXXX. to of cash of were June XXXX $XX year quarter. June $X.X This cash, as predominantly conversion generated million year of payments end converted we the did flow our XX $X.X below days, quarter our operating to as were million at first fiscal $XX.X under EBITDA the revenue first with DSOs June prior fiscal in $XX.X our during year XXXX this, level were in Net the prior we the to the flow. CapEx increased profits quarter million compared million million highest first The increased to $X.X utilize cash capacity.Free quarter, and of

repurchased we're XX, shares. announced worth authorizing In for repurchased our XXXX, confident first by client program the expansions a shares the we shares.Looking up up to for -- have preceding we we we diversification to over During and years. repurchase repurchase of of supported remainder business, XXX,XXX million the built the the quarter the million share year-to-date XXX,XXX to on $X through strategic of vertical over purchased in quarter, we September November fiscal $XX resiliency forward X,

positive pipeline we and the into strong As program. year of diversity strong and the of a and grow to us we strength repurchase sheet strength employees recent excited management in IBEX our win we our share prior wins share believe start which result the business. of return team us We head our growth confident in and as markets serve, our execution, ability flow, clients to our client guidance remain is about the to reiteration by year of and to convertible reinforced well I balance as XXXX.I of our later our position market joined our year, fiscal our was cash and will

here to our certainly made now that, I'm line. prior been say I assumptions team. Operator, excited of not joining and As IBEX about almost take in now can any Bob, X been I the have months, open please where I'll that have disappointed for I the about headed.With questions. future the we're I

Operator

[Operator Instructions] Tobey line Truist. of Our the first question from comes of Sommer

Tobey Sommer

if and year? could in for XXXX you're next them wondering your calendar their with hearing describe conversations growth the I you customers implications expectations what was IBEX and from about businesses

Robert Dechant

Yes.

pretty forecasts good give us give that. their clients their kind to out, Our months visibility of and X views directional past they'll business

have let's and to pretty bullish say, that bit figure If still that are you look the of and at kind whole out. And they're you'll a are winning of them, that they're more trying little that others some on conservative.

talked kind all from from diversified that And You about, business but XX think attributed put clients it together, top for its we holding you we some of looks like talked to they're most really part, that's don't I up, in that our clients the earlier the verticals. But built that only strong. about sum we've not very the down.

holding put so And pretty and think we're it I some some strong. we winners together, losers, all and

Tobey Sommer

your it your of that of flow, prepared maybe remarks, And the the of -- -- pace Appreciate think in new which described wondering that. logos. could as part deal describe on to add first improving. you bit if And I the a contours little I you was for maybe perspective of pipeline of

Robert Dechant

Yes, an and some Sure. our that, are kind X is large the And for and deals. shields team you as the that record on X won here years. we're And really and deals, track picking part, in X and know, other we built that play. over pace have quarter, announce last to really had business. up, of important my delighted that's really And those I that large shared very of that's we hey, I

also our they getting the started that deals. think see year, were and economy they I quarters The started with last blue-chip our back calendar I And that and X of large X delayed disruptive things and kind really new some pace very of are slowing the fiscal first to are year, quarters and they brands. of what deals

again up of but not in business this the back the about the in so only looks getting is excited trajectory into -- that ], And back where 'XX. [ how year, we're really picking total in half and

Tobey Sommer

the how share us let you deployment repurchase? low a in excuse going you maybe want Should pace give you said Do share that with ask execute even sheet repurchase executed acquisition to you in, a been around parameters the about if wanted back could value me, thought the on, how relatively go? process given you're the cash stable announced X expect -- just capital coming I'll sort of time I to balance similar of then get or over queue. and months. question you And the we over in manage to remain capital and -- that's cash And would on once

Robert Dechant

Yes. Taylor, why don't you?

Taylor Greenwald

absolutely. No, Yes.

So, what repurchase valuations certainly that once provide as authorization our share forecast a Tobey, $X.X I believe to are But trading repurchased for million, for are we've share can don't we shares right program, And and have our XXX,XXX we we over repurchase. or now million. shares saw, is, the up announced the $XX we say guidance compelling. you

have over fortunately, debt. continue to program. we look our at million we as $XX So you But the availability an no repurchase you balance indicated, if have sheet, additional

very a have we cash flow. have cash balance, We positive nice

allocation capital considering And to don't balance a repay, dividend. have point, this all aren't any so we debt strategies.At we our

capacity and in our capital mentioned, be along. So targeted then they open balanced we're to if between as repurchase opportunities M&A is it's really to geographies. going share opportunistic targeted expanding Bob also, And come

we these deploying where we'd the get we at are it the returns. is on that comfortable of our also comfortable say proper capital obviously, now, assuming sheet, would some items, but I balance So be

a from shape sheet in feel balance down So we'll good continue that but path we're very perspective.

Tobey Sommer

would acquisitions, it an industry, in that? the parameters, broadest What Is a is Is follow-up to it an respect what geographic? from could thing With some If to relationships? could you sneak describe it targeted like kind of existing customer like there. fit? I extract would acquisition want you in

Taylor Greenwald

Exactly.

potentially in geographic organically aren't get there. a geographies where expansion, we be from I in beachhead can think we'd located grow to interested and then currently we

focused that if interest as we strategic verticals. would And also, opportunity our verticals, think was on have us strategic saw well. I that think an of we I one

Robert Dechant

add. if could just Tobey, Yes, I

balance of the really have business years heads that. created X model. my We in really that we've lot pipeline were for team part transformed and this are X, we evaluating better Dev has a operating a here, well-structured we business are of and this down -- first that business. now We've And Corp now sheet really that we this

And we so going back is a a comes if right savvy we'll then -- think we've that looking there now and process. been make lot it, we'll across, of we're but year, we're that make decision.Operator, good and that news starting of and opportunities just having. And more the kind any I sharp pretty there's is, have things the careful And questions? that team at the that are about

Operator

comes the of question Koning next from Our Dave Baird. line of

David Koning

job. Nice Yes.

Like kind the year of for a to that. shift a only good might from a This shift headwind So I tougher much is is but growing growth-wise, my you be offshore? headwind is but doing in question, normal of that's year it of guess margin, a talk first just the year? in through percent. the know nice offshore, how this normal X% little but headwind Maybe Like a And I is year job. much revenue a how this? much better? would couple be is you're how

Robert Dechant

And business. guess that I offshore the in and to X% And way that we I percentage and think numbers nearshore now the in our have business of regions. we for about about the is talked increased this, the Sure. Dave, think

coming in And the -- that's that where you is which and U.S., at down extensively from, sizably. look if is happened so what's

the of the see the U.S. movements in to can other you So down regions. correlation

that And we so second us I We're that's that, behind move the is, kind into think we've math a transformation the like move year. I the there. as that's think of half this -- of kind got I lot or of what of

of our way record of think the resuming really us hopefully, I at resuming I of be part in look the so -- will track better out is, kind strong what getting X been key into growth has that years. it And

And a and those think normalized, once will so that think up. especially is driver I kind us key I be picking because pipeline things that for of level

Taylor Greenwald

add gone to as contributed. has margin over certainly the in improvements the in operate of And first about Bob, quarter U.S. year. has certainly XX% shift improvement 'XX it offshore terms XX% It's gross very the to in this just that we've And I'll well us We've as of margin gross made migration, had quarter. helps from the improve past nice the

David Koning

just Got you. a question. follow-up And as then maybe

year, how so. You've you've of is where had And in new? a And a late around year much the change? you like normal think lot does from from how that, to a get right well, of by or this how this, In even XX% existing then back you'll very normal year do years grown maybe is much growth and then that next like year?

Robert Dechant

bit Yes. -- a that and We're can the little hoping is market in we all. get right? So, Dave, tough, again,

we to we're we there that's in 'XX? of half digit can year quite in into we're not get the for. can or back hopeful sure QX digits, So upper the I'm what single But get yet. into double

that adds Dave, we good of things we've feel look the how In pipeline, you and progressing say, look trajectory and past. at, fact, in up. these numbers about just keep I on shared if kind if And

the million revenue last, logo years-ish. of let's new has to in X the ranged say, Our over your X, $XX in revenue $XX kind million

$XX XX% growth. And a million historically ] have clients as more so a just that know, million, math, year, $XXX $XX of [ company, $XXX of But million, X. do that $XXX $XX X.Xx can [ done million, you in, you in or in also million, the kind move those adds of importantly, about million million, year ] as we kind $XXX from do to

growth put business down road. for that good have given you So us. structurally -- together, we're look position in usually our like a has And the think that X strong to those things that we and

David Koning

Great margins helpful. and you. flow, job too. That's cash Got on

Robert Dechant

here it's we're as that. done excited we've we're -- about Yes, what of that a company just really proud structurally --

Operator

RBC. next Our Matthew line Instructions] of of [Operator question Roswell comes the from

Matthew Roswell

have X mentioned you competitive. about sorry All guess I them And the questions, revolving that I the were they of are large X first, around very that. wins.

the final So wins Second in can you relatively piece, you And that Taylor seasonality of to for mentioned competition of the they pricing the ramp stable should had move to then you for are the How will and wins large general? is, question part the needle? is year. large kind about talk soon? towards do the the new we become and the for question back sort think -- half those of is stakes the analytics winning of about enough revenues, deals think that the of

Robert Dechant

Great.

let questions those me the joining. Matt, and for take -- thanks So

smart the to deal that. around able you, just of on those way voicebots have of the the nearshore in the was your and on had deals.And deliver it provincial was the And we that I as that been I that back and And -- very of are X, in the to over that then never $XX front about, competitive. so and light end ago, multiplayers and to highlighted, Taylor especially -- there's that AI very, dollar IVR one other thing position to But experience and and deals if a would I being your the would like will in call we so those take then in it's no -- we case, Broadway large I one sense. front deliver first this deal, has Philippine if and of in decision a have that folks, I the That again, one won ability process.So other go -- the chatbots solutions me to go them ] immediately. think if I key. those. versus we're center big would those. was and Let implementing decision-making what the and year sit common and that billion and both makes bounce out And bring a both one [ multibillion the was And deals anybody's deal generative say, talked players,

The similar, like other deal kind but X was Page of for them. it's ] [ very

love we analytics, the technologies the and branding, the about what Wave I a beating multibillion have is of business, that, I of front done.And a going, the up not the love the BPO culture, what because to And AI, we're backseat. that's area beating that capabilities, dollar players we're X and so ]. against And X.X in more them it's and [ why is the not we're all now therefore, center. And -- pricing taking head we've

just transactions is folks, You that lower have an look you using get paid way again, is at higher now be -- the this, we're do with but human margin. to with that technology it. do competitive. and are [indiscernible] The that, think but become of have think experiences monetize visual, [ And we these -- I and we They that extension and We the we to now it's or is teaming cost that that think extension. but than experiences. this, an of ] experiences, it's I just

Part ], and put about. we we're I competitive. apologize And And winded you low -- your that. I just solution pricing this. clearly excited On -- we're the of together, extension something around.[ know when do, don't answer, not for at X [indiscernible] you you're of Matt, that's as on winning a price you that It's have long -- but that that's bullish But we all hold why on So AI that that excited is why that we're market was is what risk. why that's BPO an as looks around about

calls ] But is percentage the have but side, and and think the instead is, then build use reliant but that surveying can, question strong So calls, good stable on on AI be Part can it cost that think can will competitive you find stakes, are AI ] difference we analytics, to X. I a, low we're [ of the we're [indiscernible] where the we better survey you analytics On that. that more XXX% [ And differentiating analytics those [indiscernible]. those the a advantage, have so of stable using are you stakes. can a Taylor analytics, you? And but as analytics, you view within position not through great that's it to of how effectively, a those scale insights so in on tools, those

Taylor Greenwald

Yes.

the X related we year to of how Part of and progression like some new the So see wins the out. rolling

we from going rent QX, QX very as last So similar not seasonal did maybe to at have to but if last as we to be I year. it think a are quite just similar revenue will look strong, year, we

perspective a probably in we nicely will QX and profitability revenue. that return so X revenue And so basis. that down a revenue in on often Bob wins QX to an QX.From ramping and QX, contributing we will we're we a But [ with revenue far be on QX, ] have so will from then X in inflection basis following and a terms to QX then profitability mentioned the point year-over-year for the to going see slightly wins, of the in be it growth growth, see of year-over-year standpoint,

costs down So basis, we we as slightly the revenue. will profitability deals as down know, trading they're will won we the our be on you these we've as ambitious in that incurred QX. also -- But training rev all and expense ramping, be a year-over-year defer and we're slightly with

margins drag initially. a has it So negative on

nice us, in as of QX of these ramped So impact see QX. and a you'll And some training between in the a that which QX nice and see falls the QX. deals of and just revenue off we'll grows again But costs between as and and progress well. we'll QX, margins always some some that of QX because QX trend behind in seasonal just anyway see training, this we and year see

Operator

the question Citi. next line Potter Ryan of of Our comes from

Ryan Potter

most capabilities various of with Just Gen of And AI you you where Gen you with see deals you or still the that? into expect X services? client in of some the XQ your Are capabilities. into do AI stand ] around give planned mentioned on your on that we to embedded it question, [indiscernible]. early guess [ update even to in help through some for an AI to peak I far ask adoption current cadence that investments been and starting from you and could tagging AI stages? very Gen volumes kind And has and But rollouts clients your what how so coming are

Robert Dechant

good that. Really appreciate question, I Ryan, Sure. and

So early. AIs, very, very yes, early, Gen it's

have XX sitting much have remarks in and that this over we so we believe I pretty And last the in opportunities now I have pipeline. my that quarter,

like -- this one those ] not of one AI. that clients. solution, it deliver kind is it's new might, not you're not as Some that. But us embedded around that Others are like there's win to base or chatbots voicebots there's everything had are is relates [ of we asking only to everything

experience out interactions looking and to facets so at do.And of to around take kind Our can on different and early that the improve improve, there's or the clients AI of multiple improve to are types. cost we're those we us either number how deploy

and lower and business, can to complement. we kind what not IBEX. on any clients' model the has if creates, potential volumes create move the of the our And can here's having, Gen of it's cost It of we it really to is to as for ones it interactions business I think, relates impact and the AI human take potential has do And a high-margin to out technology do business powerful any that, actual of. use very I that but a taking it so the complex know.

how really My the to [ peak so so this maybe much relates of ramp ] not -- changing that's of during we're to ability it any kind season. team is to folks, I around have this.As of building thinking call they do And them out that. in don't where a actually been few quite solutions front clients kind that for many have deflection hire where we we with and have and

next for year. Now hold those I think probably take will

there. scale maybe pretty being a season as we of interest good corner technology didn't solutions you're solutions is they to going to And delivering. will year think around, for turn implemented have my the on some and here belief see those got lot the of those probably this be some that time and next peak get I

Ryan Potter

on on guess you but certain you then And I capacity might additional to forward I left of on excess much inorganic you guys you've Can of going been that capacity comment has on selling need And comment there helpful. more versus CapEx where and than is seat sell might been already it. out. growth? how low geos are how Got the you have can guess, And you the called trend eventual That's seat and as CapEx decide CapEx, organic kind kind in buildup capacity have of into of into? terms you built, how others? relatively seats

Robert Dechant

can me then around let the kind and talk take Taylor, of you part CapEx. the maybe Sure. first

talk have rates me offshore aggressively. these the think utilization of our a been the the And and we can see. But and such. see you'll bit our you around regions Let little I that in geographies pretty growth regions -- about growing

our lot those past then have [ been we've regions. ]. the not in in a So And fast, as building rate quite capacity been nearshore regions of going

Jamaica, look So about win because large now, that, why of have -- excited have that's client I I'm margins. out plenty have through in and in margin chunk capacity we think strong at that nearshore. the the if I we X it That's should of to don't big the right flow

at like Philippines, new to market some look that in With the doing markets, a new been the we've some that. plays probably continue provincial in we'll growth

some get so going, balanced going into think I And CapEx we can forward.

we've think on been I thoughts your I very Taylor, love that. conservative,

Taylor Greenwald

on. spot you're think I No, Yes.

that than geography a utilization right would Philippines. the I there's more we lean probably bit now think others is one into little is probably that where

our at accelerate to first would year provided expect capacity look it's in year, over -- in just the expansions they little the imply is capital of some were $XX we the that capital and when is million, the those would I million you investments We guidance our expenditures. million around lower which of for If which a later capital expenditure would $XX quarter, of that $X expenditures happen. to on side the

Operator

[Operator back Dechant, Instructions] over at Bob remarks. no for questions call like this I'd CEO, closing you. Thank turn showing the to I'm to any time.

Michael Darwal

built we're future. you ]. we've closing, in Yes. Thank to just in really all our our to confidence have for listening earnings In and to here proud ability where the Valerie of I going full Thanks, what have [ this and say this, call. deliver business is

So, look you listening, quarter. all thank and forward for next the to we'll

Operator

today's and conclude does for Thank gentlemen, you. participating. all Ladies Thank you conference. this

a now You Have may day. disconnect. great

IBEX Limited (IBEX) 9 Nov 232024 Q1 Earnings call transcript