What changed in this filing

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Item 1. Business

2026-09-10 compared with 2025-09-11 · 89 added, 92 removed, 345 unchanged (34% of the section changed)

Company Overview

ibex delivers innovative business process outsourcing (“BPO”), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage, and retain valuable customers.

We combine our strong heritage of delivering leading customer experience (“CX”) operations, services and solutions that span omnichannel customer engagement and support, digital marketing and customer experience management to help our clients measure customer sentiment and deliver a superior CX to their end-customers.

Leveraging our proprietary technology platform, company culture and operational excellence, ibex helps more than 140 clients create innovative and differentiated customer experiences to help increase loyalty, enhance brand awareness and drive revenue in an era of rapid change and digital transformation.

ibex delivers end-to-end customer engagement, innovative business process outsourcing (“BPO”), smart digital marketing, online acquisition technology, and Artificial Intelligence (“AI”) solutions to help companies acquire, engage, and retain valuable customers.

We combine our strong heritage of delivering leading customer experience (“CX”), services and solutions that span omnichannels to help our clients measure customer sentiment and deliver a superior experiences to their end-customers.

Leveraging our proprietary technology platform, company culture and operational excellence, ibex helps approximately 140 clients create innovative and differentiated customer experiences to help increase loyalty, enhance brand awareness and drive revenue in an era of rapid change and digital transformation.

Our Service Offerings

The Company is an end-to-end provider of technology-enabled customer lifecycle experience (“CLX”) solutions.

Through the Company’s integrated CLX platform, a comprehensive portfolio of solutions is offered to help optimize customer acquisition, engagement, expansion and experience for clients.

Through the Company’s integrated CLX platform, a comprehensive portfolio of solutions is offered to optimize customer acquisition, engagement, expansion and experience for clients.

The Company leverages sophisticated technology and proprietary analytics, in combination with its global footprint and BPO expertise, to protect and enhance clients’ brands.

Our Connect business lies at the core of our offerings and generates the majority of the Company’s revenue.

The Company’s Connect business lies at the core of our offerings and generates the majority of the Company’s revenue.

This business unit delivers differentiated customer service (assisting our clients’ customers with information about our clients and their products or services), technical support (providing specialized teams to provide information, assistance and technical guidance to our clients’ customers on a specific product or service), revenue generation (upselling and cross selling) and other value-added outsourced back office services (finance and accounting, marketing support, sales operations, and human resources administration) to our clients.

We deploy these capabilities through a true omni-channel CX model, which integrates voice, email, chat, SMS, social media and other communication applications.

We continue to differentiate ourselves in the emerging AI-led customer service space through ibex’s Wave iX platform and AI-enabled solution offerings.

ibex Wave iX is our managed AI-powered customer experience solution set designed to help clients integrate, deploy and manage CX-optimized AI capabilities at scale.

Wave iX combines advanced AI technology (leveraging both third party and in-house technologies), expert human oversight and analytics to drive measurable resolution, efficiency and customer experience outcomes.

Its capabilities include AI Virtual Agent solutions that automate straightforward customer inquiries while enabling human agents to focus on more complex interactions;

real-time language translation functionality across channels, including voice, chat and SMS;

and solutions that identify customers, understand intent and route them to the right human or AI resource with relevant context.

Through Wave iX, we help clients modernize customer engagement, reduce friction, improve speed to resolution and deliver more intelligent, scalable and cost-effective service experiences.

In addition, our ibex Digital suite of solutions works with consumer-facing businesses to help them build, grow and scale technology-driven customer acquisition solutions, while helping drive digital transformation.

We offer digital marketing, e-commerce technology, and platform solutions for our clients, helping them build new customer acquisition channels, increase acquired customers, and often do both at a reduced cost.

We also have a small suite of what we call CX services which measures, monitors and manages our clients’ holistic customer experiences.

ibex is built around an agent-first culture, developed and delivered through a combination of branded sites, technology-enabled recruiting and hiring, geographically and culturally specific benefits, and world-class employee engagement.

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• 2026 Forbes America’s Best Large Employers

• 2025 Newsweek’s America’s Most Admired Workplaces

• 2025 North American Inspiring Workplaces – Inspiring Workplaces Group

• 2025 Globee Award for Technology in AI-Driven Customer Experience

• 2025 Leader in Frost & Sullivan Radar for Customer Experience Management in N.

America and Latin America

• 2025 Gold Stevie Award for Achievement in Technology Innovation

• 2025 Product of the Year for Wave iX Translate and AI Virtual Agent – CUSTOMER Magazine

• 2025 Titan Award – Achievement in Technology Innovation

• 2025 Contact Center Partner of the Year – Philippine Airlines

• 2024 Best Place to Work in Nicaragua – Great Place to Work

• 2024 America’s Best Employers for Tech Workers – Forbes

• 2026 Newsweek America’s Most Admired Workplaces

• 2026 Forbes America’s Dream Employers

• 2026 Newsweek America’s Greatest Workplaces for Culture, Belonging & Community

• 2026 Product of The Year – Customer Magazine

• 2026 AI Excellence Award – Business Intelligence Group

• 2026 Globee Artificial Intelligence Award

• 2026 Globee Excellence Award

• 2026 Stevie Award for Achievement in Customer Experience

• 2026 Titan Business Excellence Awards Gold Winner

• 2025 Customer Experience Innovation Award – Customer Magazine

• 2024 Globee Award for Customer Excellence

• 2024 Contact Center Technology Award – CUSTOMER Magazine

• 2024 Stevie Award for Technology Excellence

• 2024 Gold Globee Winner at the Golden Bridge Awards

• 2024 Netty Award for Tech – Best CX Innovation

• 2024 Generative AI Product of the Year Award – TMC and Generative AI Expo

• 2025 ACES Awards Asia’s Most Influential Companies

• 2025 Great Place to Work - Top 10 Best Places to Work for Service Professionals in the Caribbean and Central America

Our Technology

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Our Flexible Operating Delivery Model

Our global delivery model is built on onshore (continental United States), nearshore (Nicaragua, Honduras and Jamaica) and offshore (Philippines, Pakistan and India) customer experience delivery centers, and includes a unique ability to support work-at-home capabilities in any region with internet access.

Our global delivery model is built on onshore (continental United States), offshore (Philippines, Pakistan and India), and nearshore (Jamaica, Nicaragua and Honduras) customer experience delivery centers, and includes a unique ability to support work-at-home capabilities in any region with internet access.

We operate in the following geographies for our service offerings:

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Customer Acquisition

We operate three acquisition-focused Centers of Excellence, based in Jamaica, Pakistan, and Philippines, which are focused on customer acquisition on behalf of our clients.

We operate three acquisition-focused Centers of Excellence, based in Jamaica, Nicaragua, and Pakistan, which are focused on customer acquisition on behalf of our clients.

As of June 30, 2026, there were approximately 300 employees dedicated to customer acquisition.

Customer Experience Technology Solutions

We deliver our CX technology solutions to our clients primarily through a cloud-based delivery model.

Our Analytics solution is an add-on solution, which includes technology such as omni-channel speech analytics utilizing AI along with business analysts who provide various insights.

As of June 30, 2025, 97% of our total on-site capacity resides in our high-growth, high margin offshore and nearshore geographies, which are ideally placed for clients who are either digital-first or are digitally transforming their business.

As of June 30, 2026, 97% of our total on-site capacity resides in our offshore and nearshore geographies, which are ideally placed for clients who are either digital-first or are digitally transforming their business.

Our Strategic Approach

We place a high priority on delivering great customer experiences across the customer lifecycle and focus on clients who view CX as a competitive differentiator.

We have transformed our business from a traditional BPO of commoditized call center support to a technology-led provider and partner of choice.

We have transformed our business from a traditional BPO of commoditized call center support to a technology-led provider and partner of choice, and today view ourselves at the forefront of delivering AI-powered CX across the customer journey to and for our clients, further setting the company apart from legacy BPOs.

Companies are looking for enhanced solutions beyond pure labor arbitrage.

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These target clients are looking for partners that can deliver a digital-first experience to their customers, while enhancing their brand and customer loyalty at scale.

We call this BPO 2.0, and believe ibex is at the forefront of delivering these differentiated solutions.

Historically, we called this BPO 2.0, an area in which ibex delivered industry-leading results across these differentiated solutions.

Today, we are further defining the new BPO 3.0, which includes AI-powered solutions across the customer journey designed to leverage best in class business insights with the adoption and utilization of customer-facing AI solutions to seamlessly connect AI agents and traditional human support, at scale, for our clients.

Our growth strategy is predicated on four growth pillars:

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We seek to partner with growing companies with emerging brands to help drive their customer engagement in ways that can revolutionize the way consumers connect and invest in their brands of choice harnessing the power of technology.

These brands span across Retail & E-commerce, HealthTech, Telecommunication, FinTech, Travel, Transportation & Logistics, and Technology verticals.

These brands span across verticals such as Retail & E-commerce, HealthTech, Telecommunication, FinTech, Travel, Transportation & Logistics, and Technology.

We also serve large Fortune 500 companies with very established brands.

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They tend to be faster-growing brands in high-growth industries, such as (but not limited to) technology, e-commerce and consumer services.

Our service offering to our digital-first clients is designed to meet the needs for digital-first verticals and high-growth requirements, with a focus on launch,

speed-to-performance, and scale.

Our service offering to our digital-first clients is designed to meet the needs for digital-first verticals and high-growth requirements, with a focus on launch, speed-to-performance, and scale.

While many of these digital-first clients are smaller, fast-growing companies, there are several Fortune 500 companies within this group, such as Amazon and one of the leading ride-sharing companies in the United States.

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We apply our execution expertise and end-to-end CX technology suite to help enable these clients adapt in a changing environment that requires a different type of customer experience for digital-native consumers.

Within these two categories of companies, our core focus is on winning and growing partnerships with those clients we refer to as BPO 2.0 clients – those companies focused on providing amazing experiences to their customers, while enhancing their brand and customer loyalty, at scale, focusing on digital-first and integrated omni-channel delivery.

Within these two categories of companies, our core focus is on winning and growing partnerships with those clients we refer to as BPO 3.0 clients – those companies focused on providing amazing experiences to their customers, while enhancing their brand and customer loyalty, at scale, focusing on digital-first and integrated omni-channel delivery, and seeking to do so leveraging seamlessly to connect AI agents with best-in-class human support.

Our success leveraging and embedding our Wave iX technology and analytics insight platform suite across client engagements enhances and strengthens the nature of our client relationships.

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They view their customer contact center providers as essential partners and an extension of their brand rather than a cost center to manage customer interaction.

As a result, they are often moving away from their incumbent legacy and moving to service providers that can deliver better and differentiated customer support, leveraging emerging technologies.

As a result, they are often moving away from their incumbent legacy providers and moving to service providers that can deliver better and differentiated customer support, leveraging emerging technologies.

They are not just looking for labor to manage contacts, but rather they are looking for great customer experiences.

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Outsourcing Across the Operational Value Chain – Enterprises are more frequently relying on outsourced providers to address their needs across the entire customer lifecycle.

Many companies, especially in the HealthTech, FinTech and Utilities space, are increasingly relying on the expertise of external providers to deliver cost savings, ensure compliance, drive performance enhancements, and offer technology suites that serve to improve overall CX while allowing the brand to focus on their core products and competencies.

Many companies are increasingly relying on the expertise of external providers to deliver cost savings, ensure compliance, drive performance enhancements, and offer technology suites that serve to improve overall CX while allowing the brand to focus on their core products and competencies.

Mature companies seek to digitally transform their current operations to meet the demands of the digital economy and diversify their capabilities.

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The proliferation and evolution of generative AI has had many impacts on the CX sector.

Potential automation in backend and middle-office business processes, as well as potential increased use of bots to respond to pre-defined queries, has begun to impact assisted customer interactions.

Potential automation in backend and middle-office business processes, as well as potential increased use of AI agents and bots to respond to pre-defined queries, has begun to impact assisted customer interactions.

Additionally, productivity, data availability and quality due to generative AI could result in an increased volume of analytical work, as agents may be up-skilled to deploy improved analytical capabilities.

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this ultimately drives a longer term, mutually beneficial partnership.

Bestshore Flexible Delivery Model – Clients are increasingly choosing providers based on their ability to provide a flexible, turnkey delivery model that can offer a mix of onshore, nearshore, offshore, and remote working capabilities.

Bestshore Flexible Delivery Model – Clients are increasingly choosing providers based on their ability to provide a flexible, turnkey delivery model that can offer a mix of onshore, offshore, nearshore and remote working capabilities.

However, in today’s industry, we believe clients are looking for the best provider in the specific market that they are considering, as opposed to finding one provider across all geographies.

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Solutions Catered to High-Growth Sectors – The challenges that digital-first “disruptors” face consist of managing high growth within their customer base, while simultaneously maintaining a high-quality customer experience.

In contrast to mature business models, digital-first companies have generally not focused on developing large-scale insourced customer operations;

In contrast to mature business models, digital-first companies have generally not focused on developing large-scale in-house customer operations;

therefore, they rely on external partners that can deliver customer service, engagement and support while maintaining the quality of their brands.

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In this manner, the “land and expand” strategy provides opportunities for us to substantially increase our revenues within our existing client base over time.

Our sales and marketing activities are focused on our key market verticals:

Retail & E-commerce, HealthTech, FinTech, Technology, Travel, Transportation & Logistics, Cable, Utilities and Telecommunications.

Our sales and marketing activities are focused on our largest target verticals, including:

Retail & E-commerce, HealthTech, Telecommunication, FinTech, Travel, Transportation & Logistics, and Technology.

We believe our vertical market focus allows us to provide deep domain expertise and positions us as the best partner to help solve our clients’ unique needs.

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We believe we are well positioned with the top brands in each of the industry verticals in which we operate and can leverage domain knowledge and strong client references to generate business with other companies in the same industry vertical.

Our sales and marketing teams are leading the charge at the following initiatives.

Our sales and marketing teams are leading the charge with the following initiatives.

Our new logo organization is made up of teams focused on our key market verticals.

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The digital-first team is focused on penetrating a broader reach of unicorn and potential unicorn clients in the emerging technology and consumer services sector.

Through our digital-first offering, we combine Customer Engagement, Customer Acquisition and Customer Experience into an integrated solution set that is focused on the high-growth technology, e-commerce and consumer services markets for digital-first clients.

Through our digital-first offering, we combine customer engagement and customer acquisition into an integrated solution set that is focused on the high-growth technology, e-commerce and consumer services markets for digital-first clients.

The sales process for a new client can be short or lengthy depending on the client.

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Client Services.

Our client services team is dedicated to maintaining and expanding our relationships with our existing clients and is made up of teams that are organized either around a single large client or around companies of clients that collectively provide scale to warrant the investment of client services overhead.

Our client services team is dedicated to maintaining and expanding our relationships with our existing clients.

A majority of the senior leadership of the client services team is located in the United States and is supported by local team members located closer to the actual service delivery, sometimes in other countries / regions.

The members of our client services team typically have deep operational experience as well as strong relationship-building and selling skills.

Often our client services team for an account has a team member located close to the client’s premises in the United States as well as a member that is located close to where the delivery takes

place, which is now increasingly in offshore and nearshore locations.

Often our client services team for an account has a team member located close to the client’s premises in the United States as well as a member that is located close to where the delivery takes place, which is now increasingly in offshore and nearshore locations.

Most of the new opportunities created within the embedded base of existing clients are led by the senior leadership of the client services team and follow the same general sales process as the new logo teams.

As part of our highly engaged, or “leaned in” corporate culture, our client relationships are set up at multiple levels and layers, all the way from our Chief Executive Officer through the business heads of our organization.

As part of our highly engaged corporate culture, our client relationships are set up at multiple levels and layers, all the way from our Chief Executive Officer through the business heads of our organization.

We believe the multi-layered nature of these relationships allows us to develop even stronger client engagements.

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We focus our marketing efforts on demonstrating to our prospective clients our thought leadership in the CLX market, addressing the challenges facing companies across the full customer lifecycle, and engaging business leaders who are seeking to leverage data, technology, analytics, and insights to drive competitive differentiation.

We take a targeted approach and work with enterprises across our target verticals:

Retail & E-commerce, Telecommunication, Technology, Cable, HealthTech, FinTech and Utilities.

We take a strategic approach and work with enterprises across our largest target verticals, including:

Retail & E-commerce, HealthTech, Telecommunication, FinTech, Travel, Transportation & Logistics, and Technology.

We engage with key decision makers outside of request for proposal cycles in the following key offices:

Chief Digital Officer, Chief Information Officer, Chief Experience Officer, Chief Customer Officer and the Chief Marketing Officer.

We also use various social media platforms such as LinkedIn and Facebook to promote our brand externally to target clients and internally to our employees and prospective employees, with the latter being a key component of our success in achieving award winning agent engagement.

We also use various social media platforms such as LinkedIn, Facebook and Instagram to promote our brand externally to target clients and prospective employees, and internally to our employees, with the latter being a key component of our success in achieving award winning agent engagement.

The BPO industry has a long track record of major consolidation.

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These in-house customer service departments continue to constitute the largest segment of customer lifecycle management expenditures.

We believe that the most significant competitive factor in the sale of outsourced customer engagement services is the ability of providers to act as partners to and extensions of clients’ brands, in an effort to deliver improved customer experiences and increased overall customer LTV.

modern consumer, sufficient diversified global delivery coverage, reliability, scalability, security and competitive pricing.

Other important factors include maintaining high and consistent levels of service quality, tailored value-added service offerings, supported by advanced technological capabilities, industry and domain expertise, an understanding of the digital marketplace and modern consumer, sufficient diversified global delivery coverage, reliability, scalability, security and competitive pricing.

Changes in a client’s geographic strategy, where the client is looking to move its outsourced CX from onshore to offshore or nearshore, or balance its workload between nearshore and offshore, often create opportunities for outsourced customer interaction providers.

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Our most recent survey scored a client NPS of 71 which indicates strong, mutually-beneficial relationships with clients built on the value they place in ibex services and solutions along with the level of service consistently being delivered.

As evidenced by the quality and quantity of our new customer wins, growth and market share with these clients and our track record of amazing customer retention, we believe we have clearly established ourselves as a CX leader in today’s digital economy.

Our vertical industry in expertise high-growth areas, including Retail and E-commerce, Travel, Transportation & Logistics, HealthTech, and FinTech, allows us to adapt our services and solutions for clients, further embedding us into their customer engagement lifecycle while delivering impactful business results.

As evidenced by the quality and quantity of our new customer wins, growth and market share with these clients and our track record of strong customer retention, we believe we have clearly established ourselves as a CX leader in today’s digital economy.

Our vertical industry expertise in high-growth areas, including (but not limited to) Retail & E-commerce, HealthTech, Telecommunication, FinTech, Travel, Transportation & Logistics, and Technology, allows us to adapt our services and solutions for clients, further embedding us into their customer engagement lifecycle while delivering impactful business results.

We do this through leveraging our key competitive strengths:

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Our early adoption and offerings of client-facing AI solutions today include Wave iX AI Virtual Agent and Wave iX Translate.

Wave iX Virual Agent is a sophisticated AI solution for seamless and scalable automated customer and brand interactions via AI-driven voice and text conversations customized to align with a brand's persona and business needs.

Wave iX Virtual Agent is a sophisticated AI solution for seamless and scalable automated customer and brand interactions via AI-driven voice and text conversations customized to align with a brand's persona and business needs.

This Virtual Agent handles routine inquiries autonomously and features a smooth escalation process to human agents for more complex issues.

It offers true omnichannel and multilanguage support, enabling businesses to communicate with customers across any platform in their preferred language.

It offers true omnichannel and

multilanguage support, enabling businesses to communicate with customers across any platform in their preferred language.

Wave iX Translate is an AI-powered solution which facilitates real-time, two-way conversation in over 150 languages, for both agents and customers.

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This in turn creates great performance that drives growth and expansion and expanded career opportunities for our personnel.

The result is not only being recognized by the Great Places to Work and Great

Places to Work for Women awards, but also by scoring at industry leading scores for eNPS in markets like Jamaica, Nicaragua, and Bohol, Philippines.

The result is not only being recognized by the Great Places to Work and Great Places to Work for Women awards, but also by scoring at industry leading scores for eNPS in markets like Jamaica, Nicaragua and Philippines.

Greater employee satisfaction also leads to significantly less attrition than traditional BPO programs.

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Our digital services also have significantly less agent attrition than traditional BPO programs.

Agent attrition is a key cost and performance component where low attrition drives higher margins and better performance for ibex and our clients.

Broad set of full lifecycle digital services –The services we provide for our clients include three key service areas – Digital & Omni-Channel Customer Experience (ibex Connect), Digital Marketing and E-Commerce (ibex Digital) and Digital CX surveys and analytics (ibex CX).

Broad set of full lifecycle digital services –The services we provide for our clients include two key service areas – Digital & Omni-Channel Customer Experience (ibex Connect) and Digital Marketing and E-Commerce (ibex Digital).

This contrasts to many of our traditional competitors that are focused solely on contact center services.

Often these digital services are provided in our high-margin nearshore and offshore regions, contributing to their growth.

Leading global delivery with significant growth in nearshore and offshore regions – Our global delivery model is built on onshore, nearshore and offshore delivery centers, and includes our ability to also support work-at-home capabilities.

Leading global delivery with significant growth in nearshore and offshore regions – Our global delivery model is built on onshore, offshore and nearshore delivery centers, and includes our ability to also support work-at-home capabilities.

We seek to operate state-of-the-art “highly-branded” delivery centers in labor markets that are under-penetrated in order to maintain our competitive advantage, retain our position in those labor markets as an employer of choice and deliver a highly scalable and cost-effective solution to our clients.

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In addition, with a broad network of 30 delivery centers spread across multiple geographies, we provide much needed geographic diversity for our clients.

In particular, significant investments made in Jamaica, Honduras, and Nicaragua help us to offer untapped talent pools for high-quality service, proximity to home operations, competitive price points, and an existing brand affinity.

In particular, significant investments made in the Philippines, Honduras, and Nicaragua help us to offer untapped talent pools for high-quality service, proximity to home operations, competitive price points, and an existing brand affinity.

We are the largest BPO employer in Pakistan, which we believe is a truly disruptive market for the industry.

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and/or other countries for our brand and our technology.

The duration of trademark and service mark registrations varies from country

to country but may generally be renewed indefinitely as long as the marks are in use and their registrations are properly maintained.

The duration of trademark and service mark registrations varies from country to country but may generally be renewed indefinitely as long as the marks are in use and their registrations are properly maintained.

We also have common law rights to certain trademarks and service marks.

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As a Bermuda company, we are also subject to regulation in Bermuda.

Among other things, we must comply with the provisions of the Bermuda Companies Act 1981, as amended (the “Companies Act”) regulating the declaration and payment of dividends and the making of distributions from contributed surplus, which generally prohibit dividends or distributions unless certain capital and liquidity standards are met.

We are classified as a non-resident of Bermuda for exchange control purposes by the Bermuda Monetary Authority (“BMA”).

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Under Bermuda law, “exempted” companies are companies formed for the purpose of conducting business outside Bermuda.

As an exempted company, we may not, without a license granted by the Minister of Economic Development, participate in certain business transactions, including transactions involving Bermuda landholding rights and the carrying on of business of any kind, for which we are not licensed in Bermuda.

As an exempted company, we may not, without a license granted by the Minister of Finance, participate in certain business transactions, including transactions involving Bermuda landholding rights and the carrying on of business of any kind, for which we are not licensed in Bermuda.

On December 31, 2018, the Bermuda government enacted the Economic Substance Act 2018, and related regulations, as subsequently amended (the “Substance Act”) with effect from July 1, 2019 for existing Bermuda entities, requiring certain entities in Bermuda engaged in “relevant activities” to maintain a substantial economic presence in Bermuda and to satisfy economic substance requirements.

The list of “relevant activities” includes holding entities and financing and leasing (including intra-group lending), and the legislation requires Bermuda companies engaging in a “relevant activity” to be locally managed and directed, to carry on core income generating activities in Bermuda, to maintain adequate physical presence in Bermuda, and to have an adequate level of local full time qualified employees and incur adequate operating expenditure in Bermuda.

Under the Substance Act, any entity that must satisfy economic substance requirements but fails to do so could face automatic disclosure to competent authorities in the European Union of the information filed by the entity with the Bermuda Registrar of Companies in connection with the economic substance requirements and may also face financial penalties, restriction or regulation of its business activities or may be struck as a registered entity in Bermuda.

the Bermuda Registrar of Companies (the “Registrar”) in connection with the economic substance requirements and may also face financial penalties, restriction or regulation of its business activities or may be struck as a registered entity in Bermuda.

We continue to evaluate the Substance Act and its requirements, as well as its application to our business.

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We continue to evaluate PIPA and its requirements, as well as its application to our business.

The Beneficial Ownership Act 2025, as amended (the “BO Act”) came into force on November 3, 2025 requiring certain legal persons in Bermuda to identify beneficial owners and maintain a beneficial ownership register.

For so long as our shares are listed on an “appointed stock exchange” (which includes the Nasdaq) we are exempted from the requirements of the BO Act except for the requirement to confirm our exempted status with the Registrar and file with the Registrar proof of that exception.

See “ Risk Factors - Risks Related to Being Incorporated in Bermuda” for more information .

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We use, collect, store, transmit, transfer, and process customer data in the ordinary course of business.

As our products are designed to assist business customers with customer support services, in the ordinary course of business, when providing its services, only a portion of the customer data that we use, collect, store, transmit, transfer and process constitutes personal data, personally identifiable information, personal information, or similar term (collectively herein “personal information”).

In the course of providing our services, we may obtain personal information in the form of business contact information of our customers, suppliers, customers, prospects, and other persons, including our customers’ end users.

We also may obtain personal information from employees, contractors, applicants, whether current, former, or prospective and, as applicable, family members or designees.

As our solutions are designed to assist business customers with customer support services, only a portion of the customer data that we use, collect, store, transmit, transfer and process in providing our services constitutes personal data, personally identifiable information, personal information, or a similar term (collectively herein “personal information”).

In the course of providing our services, we may obtain personal information in the form of business contact information of our customers, suppliers, prospects, and other persons, including our customers’ end users.

We also may obtain personal information relating to current, former or prospective employees, contractors, and applicants and, as applicable, their family members or designees.

Certain personal information that we collect and/or process from any of these persons may include information that is considered “special” or “sensitive” data, which may be subject to additional restrictions under applicable law.

We are required to comply with local, state, federal, and foreign laws and regulations pertaining to the collection, storage, transmission, transferring, processing, and security of such personal information.

In addition, we are also subject to certain self-regulatory standards that require companies that process certain types of personal information, like payment card data, to implement certain data security measures.

Regulators around the globe, and in countries in which we operate, have promulgated and are continuing to adopt laws, implement regulations, and issue guidance pertaining to the collection, storage, transmission, transferring, processing, and security of personal information.

We are required to comply with local, state, federal, and foreign laws and regulations pertaining to the collection, use, storage, transmission, transfer, processing, security, retention, and deletion of such personal information.

In addition, we are also subject to certain self-regulatory standards and contractual requirements that require companies that process certain types of personal information, such as payment card data, to implement certain data security measures.

Regulators around the globe, and in countries in which we operate, have promulgated and are continuing to adopt laws, implement regulations, and issue guidance pertaining to the collection, use, storage, transmission, transfer, processing, security, retention, and deletion of personal information.

The applicability of these laws, regulations, and guidance is continually evolving, sometimes uncertain, and in some circumstances, conflicting between and among jurisdictions.

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We deploy a customer-centric, employee driven culture designed to enable our workforce to do their best work on behalf of our clients.

We had approximately 33,000 and 30,000 full-time and total employees as of June 30, 2025 and 2024, respectively.

As of June 30, 2026, we had approximately 35,000 full-time and total employees globally, consisting of approximately 2,500, 25,400 and 7,100 employees in our onshore, offshore and nearshore regions, respectively.

As of June 30, 2025, we had approximately 33,000 full-time and total employees globally, consisting of approximately 1,800, 23,700 and 7,500 employees in our onshore, offshore and nearshore regions, respectively.

We believe that we have one of the best cultures in the industry.

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Our culture is distinctive – built by and for the individuals that represent our clients’ brands with each and every contact.

Our commitment to those individuals exceeds anything in our industry, as evidenced by our e NPS of 77.

At the foundation of our culture are three primary principals:

Our commitment to those individuals exceeds anything in our industry, as evidenced by our eNPS of 82.

At the foundation of our culture are three primary principles:

Be the best employer in the markets we serve – We provide our employees with immediate opportunities for growth.

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Paul Inson 62 Chief People Officer

Andreas Wilkens 53 Chief Technology Officer

Michael Darwal 42 Deputy CFO, President ibex Digital

Michael Ringman 55 Chief Technology Officer

Michael Darwal 43 Chief AI & Digital Officer

Our executive officers serve at the discretion of the Company’s board of directors (the “Board”).

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Casteel has served on a number of industry boards and has been published in the Economist, The Wall Street Journal and various industry publications.

She holds a B.S.

Casteel holds a B.S.

degree in Biology from Texas A&M University.

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Dawson has held management positions at various companies in the BPO industry, bringing experience from the software and telecommunications sector.

He holds a B.A.

Dawson holds a B.A.

degree in psychology from Denison University.

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degree from the University of Michigan-Dearborn.

Andreas Wilkens has served as our Chief Technology Officer since September 2024.

Wilkens served as the Head of Engineering for RetailNext, a retail analytics software company, from 2022 to 2024.

From 2018 to 2021, Mr.

Wilkens served as Vice President and Chief Architect at LivePerson, a conversational AI software company.

Michael Ringman has served as our Chief Technology Officer since October 2025.

Ringman is responsible for the Company’s global technology strategy, including artificial intelligence, software development, information security, cloud infrastructure, and technology-enabled customer experience solutions.

Prior to joining ibex, Mr.

Ringman served as the Chief Information Officer and Chief Technology Officer at TELUS International (now TELUS Digital), a business process outsourcing and technology company, from 2013 to 2025, and Vice President of IT from 2012 to 2013.

From 2004 to 2012, Mr.

Wilkens served as Chief Technology Officer of AdvantageTec, a customer engagement software company.

Wilkens studied electrical engineering at the Kiel University of Applied Sciences in Germany.

Michael Darwal has served as our Deputy CFO and President of ibex Digital since July 2025.

From September 2022 to July 2025, Mr.

Ringman served as Vice President, Global Infrastructure at TeleTech Holdings, a business process outsourcing and technology company.

Ringman holds a Bachelor of Science degree in Aerospace Engineering from the University of Colorado Boulder and a Master of Science degree in Telecommunications.

Michael Darwal has served as our Chief AI and Digital Officer since January 2026.

From September 2022 to January 2026, Mr.

Darwal served as Deputy CFO and EVP of Investor Relations.

From 2013 until September 2022, Mr.

Darwal served as the Chief Digital Officer of ibex Digital and its predecessor company, Digital Globe Services.

For the decade prior to joining Digital Globe Services, Mr.

Darwal served as the Chief Digital Officer of ibex Digital.

For the decade prior to joining ibex Digital, Mr.

Darwal held leadership roles in finance, operations, and innovation at an early Facebook marketing agency, Ampush Media, as well as public companies, Del Monte Foods and Progressive Insurance.

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business