IBEX Limited(NASDAQ:IBEX) 
IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company provides ibex Connect, a customer engagement solution comprises customer service, technical support, and other value-added outsourced back office services...
Website: http://www.ibex.co
Founded: 2017
Full Time Employees: 22,976
CEO: Bob Dechant
Sector: Technology
Industry: Software-Application
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At a glance:
Bull Thesis:
Bear Thesis:
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Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 164,407,000 | 164,221,000 | 151,179,000 | 147,138,000 | 140,736,000 | 140,682,000 | 129,717,000 | 124,531,000 | 126,795,000 | 132,634,000 | 124,609,000 | |
yoy | 16.82% | 16.73% | 16.55% | 18.15% | 10.99% | 6.07% | 4.10% | |||||
qoq | 0.11% | 8.63% | 2.75% | 4.55% | 0.04% | 8.45% | 4.16% | -1.79% | -4.40% | 6.44% | ||
cost of services | 115,614,000 | 116,629,000 | 106,577,000 | 100,872,000 | 96,017,000 | 98,762,000 | 90,041,000 | 85,373,000 | 87,083,000 | 95,884,000 | 88,196,000 | |
gross profit | 48,793,000 | 47,592,000 | 44,602,000 | 46,266,000 | 44,719,000 | 41,920,000 | 39,676,000 | 39,158,000 | 39,712,000 | 36,750,000 | 36,413,000 | |
yoy | 9.11% | 13.53% | 12.42% | 18.15% | 12.61% | 14.07% | 8.96% | |||||
qoq | 2.52% | 6.70% | -3.60% | 3.46% | 6.68% | 5.66% | 1.32% | -1.40% | 8.06% | 0.93% | ||
gross margin % | 29.68% | 28.98% | 29.50% | 31.44% | 31.78% | 29.80% | 30.59% | 31.44% | 31.32% | 27.71% | 29.22% | |
selling, general and administrative | 27,467,000 | 27,555,000 | 26,525,000 | 29,756,000 | 27,061,000 | 25,706,000 | 26,215,000 | 21,681,000 | 23,565,000 | 24,857,000 | 23,040,000 | |
depreciation and amortization | 5,170,000 | 4,750,000 | 4,378,000 | 4,248,000 | 4,329,000 | 4,286,000 | 4,369,000 | 4,608,000 | 4,865,000 | 4,946,000 | 5,042,000 | |
total operating expenses | 148,251,000 | 148,934,000 | 137,480,000 | 134,876,000 | 127,407,000 | 128,754,000 | 120,625,000 | 111,662,000 | 115,513,000 | 125,687,000 | 116,278,000 | |
income from operations | 16,156,000 | 15,287,000 | 13,699,000 | 12,262,000 | 13,329,000 | 11,928,000 | 9,092,000 | 12,869,000 | 11,282,000 | 6,947,000 | 8,331,000 | |
yoy | 21.21% | 28.16% | 50.67% | -4.72% | 18.14% | 71.70% | 9.13% | |||||
qoq | 5.68% | 11.59% | 11.72% | -8.01% | 11.75% | 31.19% | -29.35% | 14.07% | 62.40% | -16.61% | ||
operating margin % | 9.83% | 9.31% | 9.06% | 8.33% | 9.47% | 8.48% | 7.01% | 10.33% | 8.90% | 5.24% | 6.69% | |
interest income | 62,000 | 59,000 | 30,000 | 29,000 | 32,000 | 311,000 | 583,000 | 542,000 | 431,000 | 512,000 | 586,000 | |
interest expense | -249,000 | -248,000 | -217,000 | -448,000 | -404,000 | -620,000 | -162,000 | -175,000 | -124,000 | -111,000 | -104,000 | |
income before income taxes | 15,969,000 | 15,098,000 | 13,512,000 | 11,843,000 | 12,957,000 | 11,619,000 | 9,513,000 | 13,236,000 | 11,589,000 | 7,348,000 | 8,813,000 | |
provision for income tax expense | -2,644,000 | -2,881,000 | -1,470,000 | -2,247,000 | -2,488,000 | -2,351,000 | -1,982,000 | -985,000 | -1,279,000 | -1,273,000 | -1,388,000 | |
net income | 13,325,000 | 12,217,000 | 12,042,000 | 9,596,000 | 10,469,000 | 9,268,000 | 7,531,000 | 9,845,000 | 10,310,000 | 6,075,000 | 7,425,000 | |
yoy | 27.28% | 31.82% | 59.90% | -2.53% | 1.54% | 52.56% | 1.43% | |||||
qoq | 9.07% | 1.45% | 25.49% | -8.34% | 12.96% | 23.06% | -23.50% | -4.51% | 69.71% | -18.18% | ||
net income margin % | 8.10% | 7.44% | 7.97% | 6.52% | 7.44% | 6.59% | 5.81% | 7.91% | 8.13% | 4.58% | 5.96% | |
other comprehensive income | ||||||||||||
foreign currency translation adjustments | -1,123,000 | -369,000 | -1,212,000 | 263,000 | 374,000 | -911,000 | 1,388,000 | -1,313,000 | -288,000 | 679,000 | -701,000 | |
unrealized gain on cash flow hedging instruments, net of tax | -1,679,000 | -416,000 | -2,188,000 | 204,000 | 385,000 | -193,000 | 379,000 | -181,000 | -131,000 | 395,000 | ||
total other comprehensive income | -2,802,000 | -785,000 | -3,400,000 | 155,000 | 759,000 | -1,104,000 | 1,767,000 | |||||
total comprehensive income | 10,523,000 | 11,432,000 | 8,642,000 | 9,751,000 | 11,228,000 | 8,164,000 | 9,298,000 | 8,484,000 | 9,891,000 | 7,149,000 | 6,530,000 | |
net income per share | ||||||||||||
basic | 0.99 | 0.91 | 0.9 | 0.71 | 0.79 | 0.61 | 0.45 | 0.57 | 0.59 | 0.34 | 0.41 | |
diluted | 0.89 | 0.83 | 0.82 | 0.66 | 0.73 | 0.57 | 0.43 | 0.55 | 0.57 | 0.33 | 0.39 | |
weighted-average common shares outstanding | ||||||||||||
basic | 13,454 | 13,469 | 13,360 | 14,678 | 13,264 | 15,126 | 16,880 | 17,704 | 17,468 | 17,885 | 18,287 | |
diluted | 14,994 | 14,737 | 14,609 | 15,725 | 14,404 | 16,456 | 17,490 | 18,255 | 18,036 | 18,440 | 18,898 | |
total other comprehensive loss | -1,361,000 | -419,000 | -895,000 | |||||||||
total other comprehensive gain | 1,074,000 | |||||||||||
unrealized loss on cash flow hedging instruments, net of tax | -194,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-05-17 | 2023-02-28 | 2023-02-15 | 2022-11-15 | 2022-09-22 | 2022-06-30 | 2022-05-18 | 2022-02-23 | 2022-02-16 | 2021-11-22 | 2021-09-14 | 2021-06-30 | 2021-05-18 | 2021-02-18 | 2020-11-16 | 2020-09-24 | 2020-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||
current assets | |||||||||||||||||||||||||||||
cash and cash equivalents | 15,409,000 | 15,460,000 | 22,694,000 | 15,350,000 | 12,977,000 | 20,206,000 | 62,305,000 | 62,720,000 | 50,665,000 | 49,016,000 | 62,029,000 | 57,429,000 | 43,676,000 | 48,831 | 38,082,000 | 42,851,000 | 48,831,000 | 48,831 | 41,450,000 | 57,842 | 51,531,000 | 53,986,000 | 57,842,000 | 57,842 | 62,552,000 | 74,615,000 | 79,779,000 | 21,870,000 | 21,870 |
accounts receivable | 129,154,000 | 130,505,000 | 116,032,000 | 117,136,000 | 120,035,000 | 120,581,000 | 106,043,000 | 98,366,000 | 103,317,000 | 104,747,000 | 90,114,000 | 86,364,000 | |||||||||||||||||
prepaid expenses | 16,889,000 | 9,171,000 | 10,492,000 | 9,443,000 | 8,103,000 | 6,905,000 | 8,202,000 | 7,712,000 | 5,885,000 | 5,278,000 | 6,843,000 | 6,616,000 | |||||||||||||||||
due from related parties | 40,000 | 50,000 | 317,000 | 256,000 | 192,000 | 164,000 | 129,000 | 98,000 | 43,000 | 116,000 | 108 | 136,000 | 156,000 | 108,000 | 108 | 1,133,000 | 1,755 | 1,239,000 | 1,098,000 | 1,755,000 | 1,755 | 1,794,000 | 1,922,000 | 1,857,000 | 1,587,000 | 1,587 | |||
tax advances and receivables | 2,057,000 | 1,451,000 | 1,505,000 | 1,522,000 | 4,976,000 | 8,968,000 | 10,153,000 | 9,080,000 | 9,133,000 | 8,367,000 | 6,201,000 | 5,965,000 | |||||||||||||||||
other current assets | 1,921,000 | 1,937,000 | 2,029,000 | 2,128,000 | 2,523,000 | 2,039,000 | 1,571,000 | 1,888,000 | 2,187,000 | 1,956,000 | 2,230,000 | 2,190,000 | |||||||||||||||||
total current assets | 165,430,000 | 158,524,000 | 152,752,000 | 145,619,000 | 148,664,000 | 159,016,000 | 188,530,000 | 179,958,000 | 171,351,000 | 169,493,000 | 167,515,000 | 158,607,000 | 150,940,000 | 143,277 | 146,397,000 | 142,736,000 | 143,277,000 | 143,277 | 147,769,000 | 141,374 | 157,427,000 | 147,244,000 | 141,374,000 | 141,374 | 139,656,000 | 150,593,000 | 155,476,000 | 86,036,000 | 86,036 |
non-current assets | |||||||||||||||||||||||||||||
property and equipment | 42,799,000 | 44,217,000 | 36,541,000 | 32,563,000 | 30,481,000 | 32,168,000 | 33,202,000 | 29,862,000 | 31,465,000 | 35,950,000 | 37,890,000 | 41,151,000 | 39,869,000 | 38,987 | 40,706,000 | 37,197,000 | 38,987,000 | 38,987 | 41,423,000 | 106,703 | 40,989,000 | 35,758,000 | 106,703,000 | 106,703 | 107,338,000 | 103,397,000 | 92,548,000 | 84,588,000 | 84,588 |
operating lease assets | 54,054,000 | 57,157,000 | 59,166,000 | 62,276,000 | 65,726,000 | 54,057,000 | 58,806,000 | 59,145,000 | 62,157,000 | 69,190,000 | 67,146,000 | 70,919,000 | |||||||||||||||||
goodwill | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832 | 11,832,000 | 11,832 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832,000 | 11,832 |
deferred tax asset | 7,953,000 | 8,595,000 | 8,225,000 | 7,163,000 | 5,994,000 | 5,052,000 | 4,414,000 | 4,285,000 | 3,998,000 | 4,289,000 | 4,340,000 | 4,585,000 | 6,348,000 | 9,465 | 7,855,000 | 9,152,000 | 9,465,000 | 9,465 | 6,809,000 | 4,252 | 3,374,000 | 4,130,000 | 4,252,000 | 4,252 | 3,017,000 | 2,400,000 | 2,946,000 | 2,223,000 | 2,223 |
other non-current assets | 15,179,000 | 15,472,000 | 15,341,000 | 13,762,000 | 12,034,000 | 10,373,000 | 9,491,000 | 8,822,000 | 8,782,000 | 7,420,000 | 6,757,000 | 6,230,000 | |||||||||||||||||
total non-current assets | 131,817,000 | 137,273,000 | 131,105,000 | 127,596,000 | 126,067,000 | 113,482,000 | 117,745,000 | 113,946,000 | 118,234,000 | 128,681,000 | 127,965,000 | 134,717,000 | 137,804,000 | 146,860 | 142,169,000 | 136,728,000 | 146,860,000 | 146,860 | 148,606,000 | 132,913 | 146,243,000 | 140,203,000 | 132,913,000 | 132,913 | 134,004,000 | 128,826,000 | 118,082,000 | 109,200,000 | 109,200 |
total assets | 297,247,000 | 295,797,000 | 283,857,000 | 273,215,000 | 274,731,000 | 272,498,000 | 306,275,000 | 293,904,000 | 289,585,000 | 298,174,000 | 295,480,000 | 293,324,000 | 288,744,000 | 290,137 | 288,566,000 | 279,464,000 | 290,137,000 | 290,137 | 296,375,000 | 274,287 | 303,670,000 | 287,447,000 | 274,287,000 | 274,287 | 273,660,000 | 279,419,000 | 273,558,000 | 195,236,000 | 195,236 |
liabilities and stockholders' equity | |||||||||||||||||||||||||||||
current liabilities | |||||||||||||||||||||||||||||
accounts payable and accrued liabilities | 21,467,000 | 24,632,000 | 25,391,000 | 18,692,000 | 18,430,000 | 19,924,000 | 19,797,000 | 16,719,000 | 17,538,000 | 17,934,000 | 18,240,000 | 18,705,000 | |||||||||||||||||
accrued payroll and employee-related liabilities | 38,193,000 | 37,355,000 | 36,101,000 | 38,588,000 | 29,653,000 | 33,278,000 | 34,095,000 | 30,674,000 | 30,791,000 | 32,387,000 | 32,913,000 | 29,360,000 | |||||||||||||||||
current deferred revenue | 6,830,000 | 8,521,000 | 6,162,000 | 5,498,000 | 6,019,000 | 7,223,000 | 4,873,000 | 4,749,000 | 5,396,000 | 6,463,000 | 5,921,000 | 6,413,000 | |||||||||||||||||
current operating lease liabilities | 14,596,000 | 14,411,000 | 14,273,000 | 14,332,000 | 14,225,000 | 12,208,000 | 12,395,000 | 12,051,000 | 13,073,000 | 13,608,000 | 13,014,000 | 13,036,000 | |||||||||||||||||
current debt | 819,000 | 837,000 | 847,000 | 823,000 | 19,862,000 | 8,217,000 | 698,000 | 660,000 | 585,000 | 441,000 | 396,000 | 413,000 | |||||||||||||||||
due to related parties | 22,000 | 149,000 | 25,000 | 60,000 | 61,000 | 54,000 | 81,000 | 2,314,000 | 2,382,000 | 2,595 | 2,479,000 | 2,445,000 | 2,595,000 | 2,595 | 3,863,000 | 4,275 | 3,706,000 | 3,699,000 | 4,275,000 | 4,275 | 4,268,000 | 4,328,000 | 5,680,000 | 5,739,000 | 5,739 | ||||
income taxes payable | 2,890,000 | 749,000 | 1,236,000 | 1,986,000 | 821,000 | 4,643,000 | 5,889,000 | 6,083,000 | 3,320,000 | 3,346,000 | 3,161,000 | 3,020,000 | |||||||||||||||||
total current liabilities | 84,795,000 | 86,505,000 | 84,010,000 | 79,941,000 | 89,010,000 | 110,642,000 | 77,772,000 | 70,996,000 | 70,764,000 | 74,233,000 | 73,726,000 | 73,261,000 | 85,475,000 | 102,367 | 96,111,000 | 97,571,000 | 102,367,000 | 102,367 | 111,518,000 | 105,715 | 125,149,000 | 115,935,000 | 105,715,000 | 105,715 | 99,906,000 | 112,070,000 | 114,998,000 | 105,653,000 | 105,653 |
non-current liabilities | |||||||||||||||||||||||||||||
non-current deferred revenue | 1,832,000 | 1,472,000 | 1,080,000 | 1,130,000 | 1,060,000 | 1,119,000 | 1,083,000 | 1,128,000 | 1,302,000 | 1,634,000 | 1,503,000 | 1,383,000 | |||||||||||||||||
non-current operating lease liabilities | 45,038,000 | 48,499,000 | 50,695,000 | 53,804,000 | 56,944,000 | 48,286,000 | 52,832,000 | 53,441,000 | 55,660,000 | 62,406,000 | 61,058,000 | 64,854,000 | |||||||||||||||||
long-term debt | 572,000 | 594,000 | 726,000 | 796,000 | 735,000 | 695,000 | 802,000 | 867,000 | 820,000 | 560,000 | 581,000 | 600,000 | |||||||||||||||||
other non-current liabilities | 4,227,000 | 4,212,000 | 3,721,000 | 3,235,000 | 2,801,000 | 2,819,000 | 2,695,000 | 1,673,000 | 1,728,000 | 3,228,000 | 2,573,000 | 3,262,000 | 9,010,000 | 7,146 | 9,245,000 | 6,503,000 | 7,146,000 | 7,146 | 6,827,000 | 11,138 | 5,090,000 | 9,167,000 | 11,138,000 | 11,138 | 18,834,000 | 13,304,000 | 12,347,000 | 7,058,000 | 7,058 |
total non-current liabilities | 51,669,000 | 54,777,000 | 56,222,000 | 58,965,000 | 61,540,000 | 52,919,000 | 57,412,000 | 57,109,000 | 59,510,000 | 67,828,000 | 65,715,000 | 70,099,000 | 81,972,000 | 87,481 | 83,946,000 | 78,501,000 | 87,481,000 | 87,481 | 88,002,000 | 87,913 | 86,354,000 | 88,052,000 | 87,913,000 | 87,913 | 97,732,000 | 91,920,000 | 86,082,000 | 73,435,000 | 73,435 |
total liabilities | 136,464,000 | 141,282,000 | 140,232,000 | 138,906,000 | 150,550,000 | 163,561,000 | 135,184,000 | 128,105,000 | 130,274,000 | 142,061,000 | 139,441,000 | 143,360,000 | 167,447,000 | 189,848 | 180,057,000 | 176,072,000 | 189,848,000 | 189,848 | 199,520,000 | 193,628 | 211,503,000 | 203,987,000 | 193,628,000 | 193,628 | 197,638,000 | 203,990,000 | 201,080,000 | 179,088,000 | 179,088 |
stockholders' equity | |||||||||||||||||||||||||||||
common shares: par value 0.0001... | 2,000 | ||||||||||||||||||||||||||||
treasury stock | -113,446,000 | -108,893,000 | -106,018,000 | -103,338,000 | -101,658,000 | -101,606,000 | -30,045,000 | -25,367,000 | -22,233,000 | -14,116,000 | -5,726,000 | -3,682,000 | |||||||||||||||||
additional paid-in capital | 224,225,000 | 223,927,000 | 221,594,000 | 218,241,000 | 216,184,000 | 212,116,000 | 210,872,000 | 210,200,000 | 209,062,000 | 207,638,000 | 206,323,000 | 204,734,000 | 156,337,000 | 154,786 | 155,719,000 | 154,531,000 | 154,786,000 | 154,786 | 155,831,000 | 158,157 | 158,024,000 | 158,157,000 | 158,157,000 | 158,157 | 158,044,000 | 158,008,000 | 158,009,000 | 96,207,000 | 96,207 |
accumulated other comprehensive loss | -13,323,000 | -10,521,000 | -9,736,000 | -6,336,000 | -6,491,000 | -7,250,000 | -6,146,000 | -7,913,000 | -6,552,000 | -6,133,000 | -7,207,000 | -6,312,000 | |||||||||||||||||
retained earnings | 63,325,000 | 50,000,000 | 37,783,000 | ||||||||||||||||||||||||||
total stockholders' equity | 160,783,000 | 154,515,000 | 143,625,000 | 134,309,000 | 124,181,000 | 108,937,000 | 171,091,000 | 165,799,000 | 159,311,000 | 156,113,000 | 156,039,000 | 149,964,000 | |||||||||||||||||
total liabilities and stockholders' equity | 297,247,000 | 295,797,000 | 283,857,000 | 273,215,000 | 274,731,000 | 272,498,000 | 306,275,000 | 293,904,000 | 289,585,000 | 298,174,000 | 295,480,000 | 293,324,000 | |||||||||||||||||
common stock: par value 0.0001... | 2,000 | 2,000 | 1,000 | 1,000 | 1,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | ||||||||||||||||||
commitments | |||||||||||||||||||||||||||||
retained earnings / | 25,741,000 | 16,145,000 | 5,676,000 | ||||||||||||||||||||||||||
convertible debt | 25,000,000 | ||||||||||||||||||||||||||||
accumulated deficit | -3,592,000 | -11,123,000 | -20,968,000 | -31,278,000 | -37,353,000 | -44,778,000 | -69,819,000 | -87,690 | -81,519,000 | -83,384,000 | -87,690,000 | -87,690 | -92,603,000 | -110,680 | -99,201,000 | -107,666,000 | -110,680,000 | -110,680 | -114,707,000 | -114,470,000 | -116,950,000 | -109,527,000 | -109,527 | ||||||
commitments and contingencies | |||||||||||||||||||||||||||||
trade and other receivables | 106,214,000 | 93,430 | 107,256,000 | 98,803,000 | 93,430,000 | 93,430 | 104,324,000 | 81,104 | 103,788,000 | 91,294,000 | 81,104,000 | 81,104 | 75,310,000 | 74,056,000 | 73,840,000 | 62,579,000 | 62,579 | ||||||||||||
warrant asset | 934,000 | 908 | 923,000 | 926,000 | 908,000 | 908 | 862,000 | 673 | 869,000 | 866,000 | 673,000 | 673 | 1,932,000 | 2,161,000 | 2,406,000 | 2,611,000 | 2,611 | ||||||||||||
right of use assets | 70,963,000 | 77,642 | 72,999,000 | 69,366,000 | 77,642,000 | 77,642 | 78,961,000 | 79,680,000 | 77,939,000 | ||||||||||||||||||||
other intangible assets | 3,038,000 | 3,027 | 2,496,000 | 2,687,000 | 3,027,000 | 3,027 | 3,244,000 | 3,209 | 3,389,000 | 3,240,000 | 3,209,000 | 3,209 | 3,323,000 | 3,174,000 | 2,862,000 | 2,781,000 | 2,781 | ||||||||||||
investment in joint venture | 376,000 | 382 | 380,000 | 384,000 | 382,000 | 382 | 250,000 | 258 | 260,000 | 276,000 | 258,000 | 258 | 357,000 | 330,000 | 338,000 | 331,000 | 331 | ||||||||||||
other assets | 5,151,000 | 4,590 | 5,441,000 | 5,409,000 | 4,590,000 | 4,590 | 5,018,000 | 5,239 | 5,438,000 | 5,508,000 | 5,239,000 | 5,239 | 6,205,000 | 5,532,000 | 5,150,000 | 4,834,000 | 4,834 | ||||||||||||
liabilities and equity | |||||||||||||||||||||||||||||
trade and other payables | 60,134,000 | 59,813 | 65,326,000 | 63,197,000 | 59,813,000 | 59,813 | 55,252,000 | 54,863 | 60,722,000 | 61,567,000 | 54,863,000 | 54,863 | 51,649,000 | 51,158,000 | 59,603,000 | 53,213,000 | 53,213 | ||||||||||||
deferred revenue | 7,299,000 | 8,600 | 7,090,000 | 7,909,000 | 8,600,000 | 8,600 | 8,678,000 | 4,077 | 7,856,000 | 5,837,000 | 4,077,000 | 4,077 | 2,038,000 | 1,725,000 | 1,057,000 | 434,000 | 434 | ||||||||||||
lease liabilities | 13,852,000 | 13,705 | 13,939,000 | 12,704,000 | 13,705,000 | 13,705 | 14,799,000 | 12,121 | 13,357,000 | 13,780,000 | 12,121,000 | 12,121 | 73,030,000 | 72,587,000 | 68,029,000 | 62,044,000 | 62,044 | ||||||||||||
borrowings | 50,000 | 14,689 | 4,488,000 | 7,662,000 | 14,689,000 | 14,689 | 26,797,000 | 26,716 | 37,108,000 | 26,950,000 | 26,716,000 | 26,716 | 3,745,000 | 4,217,000 | 4,535,000 | 3,782,000 | 3,782 | ||||||||||||
income tax payables | 1,758,000 | 2,789,000 | 3,654,000 | 2,965,000 | 2,129,000 | 2,400,000 | 4,102,000 | 3,663,000 | 4,210,000 | 3,200,000 | 2,747,000 | 3,087,000 | 3,087 | ||||||||||||||||
equity | |||||||||||||||||||||||||||||
share capital | 2,000 | 2 | 2,000 | 2,000 | 2,000 | 2 | 2,000 | 2 | 2,000 | 2,000 | 2,000 | 2 | 2,000 | 2,000 | 2,000 | 12,000 | 12 | ||||||||||||
other reserves | 34,777,000 | 33,191 | 34,307,000 | 32,243,000 | 33,191,000 | 33,191 | 33,625,000 | 33,180 | 33,342,000 | 32,967,000 | 33,180,000 | 33,180 | 32,683,000 | 31,889,000 | 31,417,000 | 29,456,000 | 29,456 | ||||||||||||
total equity | 121,297,000 | 100,289 | 108,509,000 | 103,392,000 | 100,289,000 | 100,289 | 96,855,000 | 80,659 | 92,167,000 | 83,460,000 | 80,659,000 | 80,659 | 76,022,000 | 75,429,000 | 72,478,000 | 16,148,000 | 16,148 | ||||||||||||
total liabilities and equity | 288,744,000 | 290,137 | 288,566,000 | 279,464,000 | 290,137,000 | 290,137 | 296,375,000 | 274,287 | 303,670,000 | 287,447,000 | 274,287 | ||||||||||||||||||
income tax payable | 2,965 | 2,965 | 3,663 | 3,663 | |||||||||||||||||||||||||
deferred tax liability | 86,000 | 86 | 86,000 | 86,000 | 86,000 | 86 | 85,000 | 87,000 | 114,000 | 117,000 | 117 | ||||||||||||||||||
equity attributable to owners of the parent | |||||||||||||||||||||||||||||
total equity and liabilities | 274,287,000 | 273,660,000 | 279,419,000 | 273,558,000 | 195,236,000 | 195,236 | |||||||||||||||||||||||
equity and liabilities |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-02-28 | 2022-11-15 | 2022-09-30 | 2022-06-30 | 2022-02-23 | 2021-12-31 | 2021-11-22 | 2021-06-30 | 2021-05-18 | 2021-02-18 | 2020-11-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||||
net income | 12,042,000 | 9,596,000 | 10,469,000 | 9,268,000 | 7,531,000 | 9,845,000 | 10,310,000 | 6,075,000 | 7,425,000 | ||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||
depreciation and amortization | 4,378,000 | 4,248,000 | 4,329,000 | 4,286,000 | 4,369,000 | 4,608,000 | 4,865,000 | 4,946,000 | 5,042,000 | 10,285,000 | 34,179 | 8,685,000 | 8,685,000 | -8,520,821 | 28,197 | 1,026,000 | 7,643,000 | -7,229,803 | 275,000 | 544,000 | 6,439,000 |
noncash lease expense | 3,437,000 | 3,358,000 | 3,611,000 | 3,083,000 | 3,326,000 | 3,297,000 | 3,386,000 | 3,297,000 | 3,225,000 | ||||||||||||
deferred income tax | -1,062,000 | -1,168,000 | -942,000 | -637,000 | -130,000 | 290,000 | 52,000 | 244,000 | |||||||||||||
stock-based compensation expense | 2,550,000 | ||||||||||||||||||||
allowance for expected credit losses | 52,000 | 243,000 | |||||||||||||||||||
change in assets and liabilities: | |||||||||||||||||||||
decrease / (increase) in accounts receivable | 1,015,000 | ||||||||||||||||||||
increase in prepaid expenses and other current assets | -3,472,000 | 722,000 | -1,735,000 | -1,256,000 | |||||||||||||||||
(decrease) / increase in accounts payable and accrued liabilities | -311,000 | ||||||||||||||||||||
increase in deferred revenue | 614,000 | ||||||||||||||||||||
decrease in operating lease liabilities | -3,573,000 | -3,134,000 | -4,823,000 | -3,090,000 | -3,356,000 | -3,621,000 | -3,456,000 | -3,267,000 | -3,184,000 | ||||||||||||
net cash inflow from operating activities | 15,670,000 | 27,937,000 | 8,828,000 | 1,141,000 | 7,762,000 | 17,422,000 | 11,431,000 | -1,637,000 | 8,684,000 | 24,680,000 | 50,129 | 8,805,000 | 8,805,000 | -11,944,871 | 25,897 | -3,511,000 | 6,898,000 | -13,867,103 | 9,606,000 | ||
cash flows from investing activities | |||||||||||||||||||||
purchase of property and equipment | -7,639,000 | -5,159,000 | -5,267,000 | -4,319,000 | -3,630,000 | -2,220,000 | -1,691,000 | -2,892,000 | -2,052,000 | -16,047,000 | -24,649 | -3,489,000 | -3,489,000 | 5,854,351 | -19,360 | -6,395,000 | -4,935,000 | 5,872,640 | -88,000 | -2,903,000 | -2,901,000 |
net cash outflow from investing activities | -7,639,000 | -5,159,000 | -5,267,000 | -4,319,000 | -3,630,000 | -2,220,000 | -1,691,000 | -2,892,000 | -2,052,000 | -15,474,000 | -24,892 | -3,407,000 | -3,407,000 | 5,792,108 | -20,173 | -6,470,000 | -5,119,000 | 6,132,827 | 96,000 | ||
cash flows from financing activities | |||||||||||||||||||||
proceeds from line of credit | 13,400,000 | 60,150,000 | 9,100,000 | 60,000 | 85,000 | 57,000 | 59,000 | 37,000 | 39,372,000 | 88,117 | 9,355,000 | 9,355,000 | -14,996,883 | 116,026 | 10,502,000 | 24,815,000 | -24,567,974 | -9,547,000 | 1,887,000 | 32,344,000 | |
repayments of line of credit | -32,500,000 | -48,550,000 | -1,600,000 | -60,000 | -86,000 | -57,000 | -59,000 | -89,000 | -46,356,000 | -99,227 | -14,000,000 | -14,000,000 | 25,400,773 | -115,189 | 613,000 | -24,920,000 | 37,988,811 | -14,196,000 | 7,480,000 | -31,388,000 | |
proceeds from the exercise of options | 2,412,000 | 773,000 | 2,810,000 | 342,000 | 382,000 | 4,000 | 351,000 | 6,000 | 5,000 | ||||||||||||
principal payments on finance leases | -292,000 | -314,000 | -286,000 | -182,000 | -171,000 | -148,000 | -138,000 | -116,000 | -88,000 | ||||||||||||
purchase of treasury shares | -2,767,000 | -1,593,000 | -25,052,000 | -46,562,000 | -4,807,000 | -3,005,000 | -8,277,000 | -8,442,000 | -1,832,000 | -3,406 | -276,000 | -276,000 | 2,262,594 | ||||||||
net cash outflow from financing activities | -647,000 | -20,234,000 | -10,928,000 | -38,902,000 | -4,596,000 | -3,150,000 | -8,064,000 | -8,552,000 | -1,967,000 | -11,062,000 | -11,062,000 | ||||||||||
effects of exchange rate difference on cash and cash equivalents | -40,000 | -171,000 | 138,000 | -19,000 | 49,000 | 3,000 | -27,000 | 68,000 | -65,000 | -162,000 | -971 | -316,000 | -316,000 | 120,029 | -181 | 170,000 | -269,000 | -99,181 | 177,000 | -43,000 | -35,000 |
net increase / (decrease) in cash and cash equivalents | 7,344,000 | 4,600,000 | |||||||||||||||||||
cash and cash equivalents, beginning | 15,350,000 | 0 | 0 | 62,720,000 | 0 | 0 | 57,429,000 | ||||||||||||||
cash and cash equivalents, ending | 22,694,000 | -7,229,000 | -42,099,000 | 62,305,000 | 1,649,000 | -13,013,000 | 62,029,000 | ||||||||||||||
supplemental cash flow disclosures | |||||||||||||||||||||
cash paid for interest | 217,000 | 448,000 | 404,000 | 620,000 | 162,000 | 175,000 | 124,000 | 111,000 | 104,000 | ||||||||||||
cash paid for income taxes | 3,530,000 | 2,062,000 | 3,108,000 | 3,399,000 | 3,383,000 | 2,260,000 | 1,410,000 | 2,932,000 | 1,086,000 | ||||||||||||
supplemental non-cash disclosures | |||||||||||||||||||||
change in accounts payable related to fixed assets | 753,000 | 682,000 | -3,075,000 | -900,000 | 3,677,000 | 238,000 | -370,000 | -301,000 | -115,000 | 1,631 | -135,000 | -135,000 | 902,631 | ||||||||
warrant contra revenue | 290,000 | 299,000 | 307,000 | 287,000 | |||||||||||||||||
allowance of expected credit losses | 86,000 | 105,000 | 240,000 | 83,000 | -29,000 | 56,000 | -5,000 | 11,000 | 307,000 | -761 | 2,000 | 2,000 | 373,239 | 291 | 126,000 | -225,000 | 116,291 | -325,000 | |||
impairment losses | 275,000 | ||||||||||||||||||||
loss on lease terminations | |||||||||||||||||||||
gain on sale of subsidiaries | |||||||||||||||||||||
increase in accounts receivable | 2,788,000 | 455,000 | -14,856,000 | -7,649,000 | 4,873,000 | 1,395,000 | -14,544,000 | -3,792,000 | |||||||||||||
decrease in prepaid expenses and other current assets | |||||||||||||||||||||
increase in accounts payable and accrued liabilities | 9,290,000 | -6,120,000 | -1,496,000 | 4,574,000 | 206,000 | ||||||||||||||||
cash outflow from sale of subsidiaries, net of cash received | |||||||||||||||||||||
repayment of debt | |||||||||||||||||||||
net increase in cash and cash equivalents | 3,004,000 | -9,011 | 10,071,989 | 35,972 | -3,856,000 | -6,899,000 | -63,073,000 | 57,909,000 | |||||||||||||
cash and cash equivalents at beginning of the year | 57,842 | 21,870 | |||||||||||||||||||
cash and cash equivalents at end of the year | 48,831 | 57,842 | |||||||||||||||||||
share-based compensation expense | 1,601,000 | 1,235,000 | 670,000 | 1,024,000 | 466,000 | 1,427,000 | 848,000 | ||||||||||||||
decrease / (increase) in prepaid expenses and other current assets | |||||||||||||||||||||
increase / (decrease) in deferred revenue | 79,000 | ||||||||||||||||||||
net decrease in cash and cash equivalents | -7,229,000 | 1,649,000 | -5,980,000 | -5,980,000 | |||||||||||||||||
share repurchases funded by trgi convertible debt | |||||||||||||||||||||
net (decrease) / increase in cash and cash equivalents | -415,000 | ||||||||||||||||||||
deferred income tax provision | |||||||||||||||||||||
(increase) / decrease in prepaid expenses and other current assets | -3,158,000 | ||||||||||||||||||||
decrease in accounts payable and accrued liabilities | |||||||||||||||||||||
decrease in deferred revenue | -372,000 | ||||||||||||||||||||
increase / (decrease) in accounts payable and accrued liabilities | |||||||||||||||||||||
decrease in accounts receivable | |||||||||||||||||||||
proceeds from debt | |||||||||||||||||||||
repayment of related party loan | |||||||||||||||||||||
net proceeds from initial public offering | 63,107 | 63,107,000 | |||||||||||||||||||
listing costs related to the initial public offering | |||||||||||||||||||||
dividend distribution | -4,000 | ||||||||||||||||||||
net cash (outflow) / inflow from financing activities | -33,277 | -5,366,000 | -16,778,000 | ||||||||||||||||||
income before taxation | 21,003 | 5,396,000 | 5,396,000 | -3,690,997 | 4,765 | 6,198,000 | 3,607,000 | -89,235 | -3,866,000 | 7,112,000 | -3,152,000 | ||||||||||
adjustments to reconcile income before taxation to net cash from operating activities: | |||||||||||||||||||||
amortization of warrant asset | 250 | 216,000 | 216,000 | -218,750 | 517 | 531,000 | -294,000 | -228,483 | -14,000 | 38,000 | 205,000 | ||||||||||
foreign currency translation gain | -849,000 | -849,000 | |||||||||||||||||||
fair value measurement of share warrants | -2,310 | 2,165,000 | 2,165,000 | -3,381,310 | 9,732 | -1,387,000 | -2,800,000 | ||||||||||||||
share-based payments | 1,851 | 1,122,000 | 1,122,000 | -796,149 | 3,670 | -216,000 | 360,000 | -635,330 | 151,000 | -1,476,000 | 1,964,000 | ||||||||||
share of profit from investment in joint venture | -1,151 | -152,000 | -152,000 | 241,849 | -577 | 14,000 | -225,000 | 173,423 | -71,000 | 20,000 | -123,000 | ||||||||||
gain on lease terminations | -150 | -366,000 | -366,000 | 69,850 | -923 | 851,077 | |||||||||||||||
gain on sale of assets | |||||||||||||||||||||
provision for defined benefit scheme | 278 | -40,722 | 228 | 19,000 | |||||||||||||||||
finance expenses | 8,797 | 1,869,000 | 1,869,000 | -2,166,203 | 200,000 | 2,110,000 | 2,239,000 | ||||||||||||||
decrease in trade and other receivables | -9,223 | -700,223 | -13,327 | 883,000 | |||||||||||||||||
decrease in prepayments and other assets | 820 | -420,180 | |||||||||||||||||||
increase in trade and other payables and other liabilities | 7,588 | -175,000 | 4,642,588 | -1,655 | 6,916,000 | 10,092,000 | -17,254,000 | 9,153,000 | |||||||||||||
cash inflow from operations | 61,131 | 10,861,000 | 10,861,000 | -14,589,869 | 40,596 | -2,849,000 | 9,221,000 | ||||||||||||||
interest paid | -8,842 | -1,935,000 | -1,935,000 | 2,166,158 | -9,034 | -200,000 | -2,110,000 | 2,300,966 | 64,000 | -135,000 | -2,239,000 | ||||||||||
income taxes paid | -2,160 | -121,000 | -121,000 | 478,840 | -5,665 | -462,000 | -213,000 | 291,335 | 866,000 | 329,000 | -1,492,000 | ||||||||||
purchase of other intangible assets | -1,270 | -69,000 | -69,000 | 190,730 | -1,463 | -98,000 | -389,000 | 405,537 | 150,000 | -247,000 | -310,000 | ||||||||||
dividend received from joint venture | 1,027 | 151,000 | 151,000 | -252,973 | 650 | 23,000 | 205,000 | ||||||||||||||
cash balances related to sale of assets | |||||||||||||||||||||
repayment of borrowings | -6,834 | -2,686,000 | -2,686,000 | 1,576,166 | -11,080 | 634,000 | -2,238,000 | 3,484,920 | -465,000 | -235,000 | -2,796,000 | ||||||||||
exercise of options | 35 | 21,000 | 21,000 | -16,965 | 28 | -27,972 | |||||||||||||||
proceeds from lease obligations | 1,417 | -1,415,583 | |||||||||||||||||||
principal payments on lease obligations | -13,379 | -3,476,000 | -3,476,000 | 3,294,621 | -17,489 | -501,000 | -3,023,000 | 2,996,511 | 5,561,000 | -5,520,000 | -3,055,000 | ||||||||||
cash and cash equivalents at beginning of the period | 48,831,000 | 48,831,000 | -3,856,000 | 57,842,000 | -5,164,000 | 57,909,000 | 21,870,000 | ||||||||||||||
cash and cash equivalents at end of the period | 42,851,000 | 42,851,000 | -2,455,000 | 53,986,000 | -12,063,000 | -5,164,000 | 79,779,000 | ||||||||||||||
non-cash items | |||||||||||||||||||||
new leases | 24,072 | 354,000 | 354,000 | -4,541,928 | 31,790 | -1,094,000 | 7,750,000 | ||||||||||||||
(benefit) / benefit from defined benefit scheme | |||||||||||||||||||||
(increase) / decrease in trade and other receivables | |||||||||||||||||||||
decrease / (increase) in prepayments and other assets | |||||||||||||||||||||
(decrease) / increase in trade and other payables and other liabilities | -175,000 | ||||||||||||||||||||
| |||||||||||||||||||||
foreign currency translation loss | -40 | 17,960 | 198 | -22,000 | -29,000 | -93,000 | 148,000 | ||||||||||||||
gain on disposal of fixed assets | -192,000 | ||||||||||||||||||||
impairment of intangibles | |||||||||||||||||||||
proceeds from borrowings | 1,714 | 1,714,000 | |||||||||||||||||||
repayment of related party loans | -1,614 | ||||||||||||||||||||
payment of listing related cost | -1,074 | ||||||||||||||||||||
investing cash flows | |||||||||||||||||||||
financing cash flows | |||||||||||||||||||||
increase in trade and other receivables | -6,258,000 | -6,258,000 | -6,755,000 | -7,597,000 | -10,727,000 | ||||||||||||||||
increase in prepayments and other assets | -793,000 | -793,000 | -405 | -269,000 | 672,595 | -292,000 | -65,000 | -316,000 | |||||||||||||
● | |||||||||||||||||||||
benefit from defined benefit scheme | |||||||||||||||||||||
foreign currency translation (gain) / loss | |||||||||||||||||||||
payment of related party loans | |||||||||||||||||||||
payment of listing related costs | |||||||||||||||||||||
net cash inflow / (outflow) from financing activities | 30,429 | ||||||||||||||||||||
foreign currency translation loss / | |||||||||||||||||||||
decrease / (increase) in trade and other receivables | |||||||||||||||||||||
increase / (decrease) in trade and other payables and other liabilities | |||||||||||||||||||||
adjustments for: | |||||||||||||||||||||
phantom stock expense | 851 | ||||||||||||||||||||
finance costs | 9,034 | -2,300,966 | -64,000 | ||||||||||||||||||
increase in renewal receivables | |||||||||||||||||||||
return on investment from joint venture | |||||||||||||||||||||
proceed from sale of assets | |||||||||||||||||||||
cash adjustment from sale of subsidiary to parent company | |||||||||||||||||||||
(repayment) / proceeds private placement notes | |||||||||||||||||||||
payment of senior preferred shares | |||||||||||||||||||||
issuance of warrants | |||||||||||||||||||||
actuarial gain on defined benefit scheme | 26 | ||||||||||||||||||||
sale of subsidiary | |||||||||||||||||||||
acquisition of fixed assets through increase in accounts payable | 4,339,000 | ||||||||||||||||||||
loss on disposal of fixed assets | |||||||||||||||||||||
fair value adjustment | 2,274,000 | ||||||||||||||||||||
phantom expense | 530,000 | 4,000 | 125,000 | ||||||||||||||||||
provision for retirement benefit expense | -16,000 | -12,000 | 78,000 | ||||||||||||||||||
cash generated from operations | 8,676,000 | -1,846,000 | 9,670,000 | ||||||||||||||||||
capital repayment from joint venture | 34,000 | -3,000 | 115,000 | ||||||||||||||||||
payment of related party loan | |||||||||||||||||||||
dividends paid | -4,000,000 | ||||||||||||||||||||
share warrants | 3,586,000 | ||||||||||||||||||||
net cash from operating activities | 5,939,000 | ||||||||||||||||||||
capital expenditures | -2,901,000 | ||||||||||||||||||||
free cash flows | 3,038,000 | ||||||||||||||||||||
net cash from investing activities | -3,096,000 | ||||||||||||||||||||
payment of listing related expenses | -825,000 | ||||||||||||||||||||
net cash from financing activities | 55,101,000 | ||||||||||||||||||||
impairment on intangibles | |||||||||||||||||||||
repayment private placement notes | |||||||||||||||||||||
cash inflow / (outflow) operations | |||||||||||||||||||||
net cash inflow / (outflow) from operating activities | |||||||||||||||||||||
(repayment) / proceeds from private placement notes |