Financial Analysis

COMMITMENTS As of June 30, 2026, the Company is party to non-cancelable purchase obligations that mainly relate to long term telecommunications contracts and enterprise cloud solutions for the continuing operation of our business. The Company has commitments to pay $12.6 million in the next twelve months and $15.1 million thereafter related to these contracts.

CommitmentsAndContingenciesDisclosureTextBlock

The following table presents the breakdown of the Companys revenue by pattern of revenue recognition: Year Ended June 30, ($000s) 2026 2025 2024 Pattern of Revenue recognition Services transferred over time $ 572,919 $ 509,942 $ 477,663 Services transferred at a point in time 71,157 48,331 30,906 $ 644,076 $ 558,273 $ 508,569 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

STOCK-BASED COMPENSATION The following tables summarize the components of stock-based compensation expense recognized in the Companys consolidated statements of comprehensive income, both by line item and by plan: Year ended June 30, ($000s) 2026 2025 2024 Cost of services $ 161 $ 508 $ 76 Selling, general and administrative 7,576 4,924 3,689 Total stock-based compensation expense $ 7,737 $ 5,432 $ 3,765 Year ended June 30, ($000s) 2026 2025 2024 Phantom Stock Plans $ 302 $ 1,698 $ (152) 2020 Long Term Incentive Plan 7,435 3,734 3,917 Total stock-based compensation expense $ 7,737 $ 5,432 $ 3,765 Phantom Stock Plans In 2018, the Company adopted phantom stock plans (Phantom Stock Plans) in certain of its operating countries, which provide for grants of phantom stock options to certain executive officers and employees in those countries. Each phantom stock option provides the participant with a contractual right to receive an amount equal to the difference between the fair market value of a vested common share of the Company at the time of exercise and the exercise price of the option per share. The maximum number of phantom stock options available for issuance under the Phantom Stock Plans is 600,000. The Phantom Stock Plans shall continue until the earlier of June 30, 2035 or termination by the Companys Board pursuant to the terms of the plans. The following table summarizes the phantom stock option activity for the year ended June 30, 2026: Share options Weighted Average Exe …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE The fair value hierarchy prioritizes the input to valuation techniques used to measure fair value. The hierarchy requires that the Company maximize the use of observable inputs and minimize the use of unobservable inputs. The levels of the fair value hierarchy are as follows: Level 1: Quoted prices for identical instruments traded in active markets. Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3: Unobservable inputs that cannot be supported by market activity and that are significant to the fair value of the asset, liability, or equity such as the use of certain pricing models, discounted cash flow models and similar techniques that use significant unobservable inputs. The carrying value of our cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, accrued payroll and employee-related liabilities, approximate fair value because of their short-term nature. The Company measures its debt at carrying value including accrued interest, which approximates fair value because of its short-term nature. Derivatives designated as cash flow hedges The values of our derivative instruments are derived from pricing models using inputs based upon market information, including contractual terms, market prices and yield curves. The inputs …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL The carrying amount of goodwill at both June 30, 2026 and 2025 was $11.8 million. Based on the Companys annual goodwill impairment assessment, we determined that the estimated fair value of the reporting unit exceeded the carrying value as of June 30, 2026 and 2025, therefore, no impairment charges were recognized. …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"INCOME TAXES Income before income taxes includes the following components: Year ended June 30, ($000s) 2026 2025 2024 Domestic $ 62 $ (55) $ 1,611 Foreign 54,232 45,987 39,375 Total $ 54,294 $ 45,932 $ 40,986 The major components of the provision for income tax expense are as follows: Year ended June 30, ($000s) 2026 2025 2024 Current tax provision Bermuda $ $ $ Foreign - U.S. Federal 5,233 7,019 3,203 Foreign - U.S. State (133) 2,113 1,532 Foreign - Others 2,072 3,054 2,241 Total current expense $ 7,172 $ 12,186 $ 6,976 Deferred tax provision Bermuda $ $ $ Foreign - U.S. Federal 1,163 (2,735) (124) Foreign - U.S. State 149 (445) 155 Foreign - Others (521) 62 324 Total deferred expense (benefit) $ 791 $ (3,118) $ 355 Provision for income tax expense $ 7,963 $ 9,068 $ 7,331 The Companys income tax provision includes the results of the Companys U.S. operations and its various foreign operations including subsidiaries based in Canada, Jamaica, Nicaragua, Pakistan, Honduras, the Philippines, United Arab Emirates, and Saudi Arabia. Historically, the Companys Bermuda-based companies have not been subject to income tax as there was no corporate income tax in Bermuda. On December 27, 2023, the Bermuda Corporate Income Tax Act 2023 (CIT) was passed which provides for a 15% corporate tax rate beginning on or after January 1, 2025 for companies with revenue in excess of 750 million Euros in two of the four previous fiscal years. The Company's consolidated revenues do not meet this 750 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

LEASES The Company has operating lease obligations primarily for its delivery centers and finance lease obligations primarily for vehicles and other equipment. Leases typically have initial terms of two to 15 years, and may include renewal options if the Company is reasonably certain to exercise such options. The components of lease cost are as follows: Year Ended June 30, ($000s) 2026 2025 2024 Operating lease cost: Operating lease cost $ 20,101 $ 19,793 $ 19,753 Variable lease cost 3,278 3,015 2,949 Short-term lease cost 321 583 211 Total operating lease cost $ 23,700 $ 23,391 $ 22,913 Finance lease cost: Amortization of right of use assets $ 1,114 $ 963 $ 653 Interest on lease liabilities 266 313 235 Total finance lease cost $ 1,380 $ 1,276 $ 888 The following table presents supplemental balance sheet information related to leases: ($000s) June 30, 2026 June 30, 2025 Operating lease assets $ 55,496 $ 62,276 Operating lease liabilities, current $ 13,936 $ 14,332 Operating lease liabilities, non-current 46,849 53,804 Total operating lease liabilities $ 60,785 $ 68,136 Finance lease assets, net $ 1,916 $ 1,776 Finance lease liabilities, current $ 882 $ 823 Finance lease liabilities, non-current 777 796 Total finance lease liabilities $ 1,659 $ 1,619 The following table presents supplemental cash flow information related to leases: Year Ended June 30, ($000s) 2026 2025 2024 Cash paid for amounts included in the measurement of lease liabilities $ 14,647 $ 14,403 $ 13,528 Operat …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"DEBT Debt consists of the following: ($000s) June 30, 2026 June 30, 2025 Debt Finance leases $ 1,659 $ 1,619 Total debt $ 1,659 $ 1,619 Less: Current debt (882) (823) Total long-term debt $ 777 $ 796 HSBC Credit Facilities The HSBC Credit Facilities consist of the U.S. Credit Facility and the UAE Facilities (as defined and described below and collectively, the HSBC Credit Facilities). U.S. Credit Agreement On October 29, 2024 (the ""Effective Date""), the Company's subsidiaries, Ibex Global Solutions, Inc. (""Ibex US"") and Digital Globe Services, LLC, as borrowers, together with the Company and Ibex Global Limited, as guarantors, and the other loan parties and guarantor parties party thereto from time to time, entered into a credit agreement with HSBC Bank USA, National Association (""HSBC U.S."") (the U.S. Credit Agreement), which provides for a $25 million secured revolving credit facility (the U.S. Credit Facility). The U.S. Credit Facility matures on the earlier of October 29, 2027 and the termination or maturity of the obligations under the UAE Credit Agreement (as defined below). Borrowings under the U.S. Credit Facility bear interest at a per annum rate equal to term Secured Overnight Financing Rate (SOFR) plus 2%, or equal to alternate base rate plus 1%. The U.S. Credit Facility is secured by substantially all of the assets of Ibex US and its wholly owned subsidiaries and guaranteed by the wholly owned U.S. subsidiaries of Ibex US, with an additional guaranty by the …

LongTermDebtTextBlock · excerpt; the full note is in the filing

In March 2024, the SEC issued climate disclosure rules, which required the disclosure of climate-related information in annual reports and registration statements. Various legal challenges were made to the rules, which were consolidated for review by the U.S. Eighth Circuit Court of Appeals. On March 27, 2025, the SEC voted to end its defense to these legal challenges. On April 24, 2025, and again on September 12, 2025, the U.S. Eighth Circuit Court of Appeals ordered that the litigation would again be held in abeyance until such time as the SEC reconsiders or renews its defense of the climate disclosure rules. Unless or until the SEC reconsiders or resumes defining its climate change rules, the litigation will remain paused. We continue to monitor for any updates and evaluate the impact of the new rules on the disclosures to our consolidated financial statements. In November 2024, the Financial Accounting Standards Board (FASB) issued ASU No. 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures: Disaggregation of Income Statement Expenses , which requires disclosures about significant expense categories, including but not limited to, employee compensation, depreciation, amortization, and selling expenses. The amendments in ASU No. 2024-03 are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. We are curr …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

REVENUE FROM CONTRACTS WITH CUSTOMERS The majority of the Companys revenues are derived from contracts with customers who are located in the United States of America (the United States or U.S.). However, the Company delivers most of its services from regional customer experience delivery centers that are located in geographies outside of the United States. Our global delivery model is built on regional delivery centers and includes an ability to support work-at-home capabilities in any region. The Company generated its revenue from clients based in the United States and other countries as shown below: Year Ended June 30, ($000s) 2026 2025 2024 Revenue United States $ 623,050 $ 537,781 $ 493,015 Other countries 21,026 20,492 15,554 Total $ 644,076 $ 558,273 $ 508,569 The following table presents the breakdown of the Companys revenues by geographical location, based on where the services are provided: Year Ended June 30, ($000s) 2026 2025 2024 Revenue Onshore (United States) $ 169,631 $ 136,020 $ 120,153 Offshore (Philippines, Pakistan, India) 327,272 282,289 244,825 Nearshore (Jamaica, Nicaragua, Honduras) 147,173 139,964 143,591 Total $ 644,076 $ 558,273 $ 508,569 The following table presents the breakdown of the Companys revenue by pattern of revenue recognition: Year Ended June 30, ($000s) 2026 2025 2024 Pattern of Revenue recognition Services transferred over time $ 572,919 $ 509,942 $ 477,663 Services transferred at a point in time 71,157 48,331 30,906 $ 644,076 $ 558,273 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

SEGMENT INFORMATION An operating segment is defined as a component of a company for which separate financial information is available and which is regularly evaluated by the chief operating decision maker (CODM) for the purpose of making decisions regarding resource allocation and performance assessment. The Companys CODM is the chief executive officer (CEO). The Company has a single operating and reportable segment as the Companys CODM is regularly provided with only consolidated financial results, to make decisions and assess performance. The measure of segment assets is reported on the consolidated balance sheet as total assets. The significant segment expenses for the Company are those included in the consolidated statements of comprehensive income. The Companys measure of segment profitability is consolidated net income. Consolidated net income is used to monitor performance against the annual budget and current forecasts, as well as make decisions on opening new sites or countries, acquiring businesses or making other strategic investments, repurchasing stock, or additional investments in or reductions of SGA. …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"STOCKHOLDERS EQUITY AOCI The following table presents changes by component: ($000s) Foreign Currency Translation Adjustment Derivative Valuation Defined Benefit Plan Total Balance, June 30, 2023 $ (6,260) $ (124) $ 72 $ (6,312) Foreign currency translation (1,623) (1,623) Actuarial gains on defined benefit plan 133 133 Unrealized losses on cash flow hedges (412) (412) Reclassifications to earnings 257 257 Tax provision 44 44 Balance, June 30, 2024 $ (7,883) $ (235) $ 205 $ (7,913) Foreign currency translation 1,114 1,114 Actuarial losses on defined benefit plan (312) (312) Unrealized gains on cash flow hedges 1,028 1,028 Reclassifications to earnings 32 32 Tax benefit (285) (285) Balance, June 30, 2025 $ (6,769) $ 540 $ (107) $ (6,336) Foreign currency translation (3,140) (3,140) Actuarial gains on defined benefit plan 524 524 Unrealized losses on cash flow hedges (5,522) (5,522) Reclassifications to earnings 2,137 2,137 Tax provision 850 850 Balance, June 30, 2026 $ (9,909) $ (1,995) $ 417 $ (11,487) The following table presents the reclassifications from AOCI to the consolidated statements of comprehensive income: ($000s) For the year ended June 30, Description of AOCI components 2026 2025 2024 Statement of Other Comprehensive Income Classification Losses on foreign currency hedges $ (2,137) $ (32) $ (257) Cost of services Tax (provision) / benefit (850) 285 (44) Provision for income taxes Total derivative valuation $ (2,987) $ 253 $ (301) Share repurchase programs The Boa …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

SUBSEQUENT EVENT HSBC Credit Facilities Amendment to U.S. Credit Agreement On September 8, 2026 (the Amendment Effective Date), the Company's subsidiary, Ibex US, the Company , I bex Global Limited, the other borrowers party thereto from time to time, the other guarantors party thereto from time to time, the lenders party thereto from time to time and HSBC Bank USA, National Association, as administrative agent, entered into Amendment No. 1 (the First Amendment) to the U.S. Credit Agreement. The First Amendment extends the maturity date of the U.S. Credit Facility by three years to the earlier of October 22, 2029 and the termination or maturity of the obligations under the Amended UAE Credit Agreement (as defined below). In addition, the First Amendment provides that: (i) a closing fee at 0.20% of the facility is payable at the time of accepting the First Amendment; and (ii) a commitment fee at 0.30% per annum will be payable by the Company on the non-utilized portion of the U.S. Credit Facility. There were no changes made to the interest rate for borrowings under the U.S. Credit Facility, other material terms, or financial and non-financial covenants. Amendment to UAE Credit Agreement On the Amendment Effective Date, the Company's subsidiary, the UAE Company entered into: (i) an amended facility offer letter (the Amended FOL); together with (ii) the general terms and conditions applicable to corporate banking credit facilities; and (iii) the letter of deviation (collectively …

SubsequentEventsTextBlock · excerpt; the full note is in the filing