0001558370-22-014803 | 20-F | XBRL Viewer

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Document and Entity Information	12 Months Ended
Document and Entity Information	Jun. 30, 2022 shares
Entity Listings [Line Items]
Entity Registrant Name	IBEX Ltd
Entity Central Index Key	0001720420
Current Fiscal Year End Date	--06-30
Document Period End Date	Jun. 30, 2022
Document Type	20-F
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38442
Title of 12(b) Security	Common shares
Trading Symbol	IBEX
Security Exchange Name	NASDAQ
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding	18,246,391
Entity Incorporation, State or Country Code	D0
Entity Address, Address Line One	Crawford House
Entity Address, Address Line Two	50 Cedar Avenue
Entity Address, City or Town	Hamilton
Entity Address, Country	BM
Entity Address, Postal Zip Code	HM11
ICFR Auditor Attestation Flag	false
Document Accounting Standard	International Financial Reporting Standards
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Tampa, Florida
Business Contact [Member]
Entity Listings [Line Items]
Entity Address, Address Line One	1717 Pennsylvania Avenue NW
Entity Address, Address Line Two	Suite 825
Entity Address, City or Town	DC
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	20006
City Area Code	202
Local Phone Number	580-6200
Contact Personnel Name	Robert Dechant

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Current assets
Cash and cash equivalents	$ 48,831	$ 57,842
Trade and other receivables	93,430	81,104
Due from related parties	108	1,755
Warrant asset	908	673
Total current assets	143,277	141,374
Non-current assets
Property and equipment	38,987	30,828
Right of use assets	77,642	75,875
Goodwill	11,832	11,832
Other intangible assets	3,027	3,209
Warrant asset	935	1,420
Investment in joint venture	382	258
Deferred tax asset	9,465	4,252
Other assets	4,590	5,239
Total non-current assets	146,860	132,913
Total assets	290,137	274,287
Current liabilities
Trade and other payables	59,813	54,863
Deferred revenue	8,600	4,077
Lease liabilities	13,705	12,121
Borrowings	14,689	26,716
Due to related parties	2,595	4,275
Income tax payable	2,965	3,663
Total current liabilities	102,367	105,715
Non-current liabilities
Non-current portion of deferred revenue	3,993	3,010
Lease liabilities	76,004	71,878
Borrowings	338	1,801
Deferred tax liability		86
Other non-current liabilities	7,146	11,138
Total non-current liabilities	87,481	87,913
Total liabilities	189,848	193,628
Equity attributable to owners of the parent
Share capital	2	2
Additional paid-in capital	154,786	158,157
Other reserves	33,191	33,180
Accumulated deficit	(87,690)	(110,680)
Total equity	100,289	80,659
Total liabilities and equity	$ 290,137	$ 274,287

Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss)
Revenue	$ 493,572	$ 443,662	$ 405,135
Payroll and related costs	342,139	296,799	276,255
Share-based payments	1,851	4,521	359
Reseller commission and lead expenses	12,908	13,749	17,328
Depreciation and amortization	34,179	28,197	24,472
Fair value measurement of share warrants	(2,310)	9,732	3,138
Other operating costs	75,005	76,865	64,070
Income from operations	29,800	13,799	19,513
Finance expenses	(8,797)	(9,034)	(9,428)
Income / (loss) before taxation	21,003	4,765	10,085
Income tax expense	1,987	(1,918)	(2,315)
Net income for the year	22,990	2,847	7,770
Item that will not be subsequently reclassified to profit or loss
Actuarial (loss) / gain on retirement benefits	287	(26)	(184)
Item that will be subsequently reclassified to profit or loss
Foreign currency translation adjustment	(1,771)	(122)	(248)
Cash flow hedge - changes in fair value	(323)	202	(518)
Other comprehensive income / (loss)	(1,807)	54	(950)
Total Comprehensive income / (loss) for the year	$ 21,183	$ 2,901	$ 6,820
Earnings / (loss) per share
Basic earnings per share (in dollars per share)	$ 1.26	$ 0.16
Diluted earnings / (loss) per share (in dollars per share)	$ 1.23	$ 0.15	$ 0

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Share Capital	Additional Paid in Capital	Total Other Reserves	Re-organization Reserve	Share Options Plans	Foreign Currency Translation Reserve	Others	Accumulated Deficit	Total
Beginning balance at Jun. 30, 2019	$ 12	$ 96,207	$ 29,585	$ 9,744	$ 19,601	$ (844)	$ 1,084	$ (117,176)	$ 8,628
Comprehensive income / (loss) for the year
Profit for the year	0	0		0	0	0	0	7,770	7,770
Other Comprehensive (Loss) / Income	0	0	(950)	0	0	(248)	(702)	0	(950)
Total Comprehensive income / (loss) for the year	0	0	(950)	0	0	(248)	(702)	7,770	6,820
Transactions with Owners
Repurchase of Share-based transaction (Note 30.2)	0	0	(13)	83	(96)	0	0	0	(13)
Dividend distribution (Note 21)	0	0		0	0	0	0	(121)	(121)
Share-based transactions (Note 19)	0	0	834	0	834	0	0	0	834
Ending balance at Jun. 30, 2020	12	96,207	29,456	9,827	20,339	(1,092)	382	(109,527)	16,148
Comprehensive income / (loss) for the year
Profit for the year	0	0		0	0	0	0	2,847	2,847
Other Comprehensive (Loss) / Income	0	0	54	0	0	(122)	176	0	54
Total Comprehensive income / (loss) for the year	0	0	54	0	0	(122)	176	2,847	2,901
Transactions with Owners
(Redemption) / issue of ordinary shares (Note 12.3)	10	(61,922)		0	0	0	0	0	(61,912)
Share options exercised (Note 19.4)	0	(28)		0	0	0	0	0	(28)
Dividend distribution (Note 21)	0	0		0	0	0	0	(4,000)	(4,000)
Share-based transactions (Note 19)	0	0	3,670	0	3,670	0	0	0	3,670
Ending balance at Jun. 30, 2021	2	158,157	33,180	9,827	24,009	(1,214)	558	(110,680)	80,659
Comprehensive income / (loss) for the year
Profit for the year	0	0		0	0	0	0	22,990	22,990
Other Comprehensive (Loss) / Income	0	0	(1,807)	0	0	(1,771)	(36)		(1,807)
Total Comprehensive income / (loss) for the year	0	0	(1,807)	0	0	(1,771)	(36)	22,990	21,183
Transactions with Owners
(Redemption) / issue of ordinary shares (Note 12.3)	0	(3,406)		0	0	0	0	0	(3,406)
Share options exercised (Note 19.4)	0	35		0	0	0	0	0	35
Share-based transactions (Note 19)	0	0	1,818	0	1,818	0	0	0	1,818
Ending balance at Jun. 30, 2022	$ 2	$ 154,786	$ 33,191	$ 9,827	$ 25,827	$ (2,985)	$ 522	$ (87,690)	$ 100,289

Consolidated Statements of Cash Flows $ in Thousands, ₨ in Millions	12 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Income before taxation	$ 21,003	$ 4,765	$ 10,085
Adjustments to reconcile income before taxation to net cash provided by operating activities:
Depreciation and amortization	34,179	28,197	24,472
Amortization of warrant asset	250	517	705
Foreign currency translation loss / (gain)	(40)	198	(195)
Fair value measurement of share warrants	(2,310)	9,732	3,138
Share-based payments	1,851	4,521	359
Allowance of expected credit losses	(761)	291	224
Share of profit from investment in joint venture	(1,151)	(577)	(534)
Gain on disposal of fixed assets			(10)
Gain on lease terminations	(150)	(923)
Provision for defined benefit scheme	278	228	121
Impairment of intangibles	0	0	777
Finance expenses	8,797	9,034	9,429
(Increase) / decrease in trade and other receivables	(9,223)	(13,327)	9,042
Decrease / (increase) in prepayments and other assets	820	(405)	(1,435)
Increase / (decrease) in trade and other payables and other liabilities	7,588	(1,655)	7,107
Cash inflow from operations	61,131	40,596	63,285
Interest paid	(8,842)	(9,034)	(9,429)
Income taxes paid	(2,160)	(5,665)	(2,137)
Net cash inflow from operating activities	50,129	25,897	51,719
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(24,649)	(19,360)	(4,283)
Purchase of other intangible assets	(1,270)	(1,463)	(982)
Dividend received from joint venture	1,027	650	430
Net cash outflow from investing activities	(24,892)	(20,173)	(4,835)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit	88,117	116,026	127,567
Repayments of line of credit	(99,227)	(115,189)	(142,118)
Proceeds from borrowings		1,714	1,000
Repayment of borrowings	(6,834)	(11,080)	(8,033)
Repayment of related party loans		(1,614)
Net proceeds from initial public offering		63,107
Payment of listing related cost		(1,074)
Exercise of options	35	28
Proceeds from lease obligations	1,417
Principal payments on lease obligations	(13,379)	(17,489)	(12,162)
Dividend distribution		(4,000)	(121)
Purchase of treasury shares	(3,406)
Net cash (outflow) / inflow from financing activities	(33,277)	30,429	(33,867)
Effects of exchange rate difference on cash and cash equivalents	(971)	(181)	(20)
Net (decrease) / increase in cash and cash equivalents	(9,011)	35,972	12,997
Cash and cash equivalents at beginning of the year	57,842	21,870	8,873
Cash and cash equivalents at end of the year	48,831	57,842	21,870
Non-cash items
New leases	24,072	$ 31,790	$ 24,295
Change in accounts payable related to fixed assets	$ 1,631

THE GROUP AND ITS OPERATIONS

12 Months Ended

Jun. 30, 2022

THE GROUP AND ITS OPERATIONS

THE GROUP AND ITS OPERATIONS

1. THE GROUP AND ITS OPERATIONS

IBEX Holdings Limited “the Holding Company,” was incorporated on February 28, 2017 and changed its name to IBEX Limited on September 11, 2019. IBEX Limited is hereinafter also referred to as “the Holding Company”. The registered office of the Holding Company is situated at Crawford House, 50 Cedar Avenue, Hamilton HM 11, Bermuda, which is also the principal place of business of the Holding Company. “The Group” or the “Company” refers to the Holding Company and its subsidiaries. The Holding Company is controlled by The Resource Group International Limited (“TRGI”) (the “Controlling Shareholder”), of which TRG Pakistan Limited holds a majority interest in TRGI. On August 7, 2020, the Group was admitted to trade on the Nasdaq Global Market on the same date under the ticker symbol “IBEX”. These consolidated financial statements of the Holding Company as of June 30, 2022 and 2021 and for the years ended June 30, 2022, 2021 and 2020 (hereafter the financial year) comprise the financial statements of IBEX Limited and its subsidiaries.

The Group is a leading end-to-end provider of technology-enabled customer lifecycle experience (“CLX”) solutions. Through the Group’s integrated CLX platform, a comprehensive portfolio of solutions is offered to optimize customer acquisition, engagement, expansion and experience for clients. The Group leverages sophisticated technology and proprietary analytics, in combination with its global contact and delivery center footprint and business process outsourcing expertise, to protect and enhance clients’ brands. The Group manages over 200 million interactions each year with consumers on behalf of clients through an omni-channel approach, using voice, web, chat and email.

The financial position of the Group, its cash, liquidity position and borrowing facilities are described in Note 10, Note 22.3 and Note 13, respectively, to the consolidated financial statements. In addition, Notes 22 and 24 to the consolidated financial statements include the Group’s objectives, policies and processes for managing its capital; financial risk management objectives; details of financial instruments; exposures to credit risk, market risks and liquidity risks.

Going Concern

For the year ended June 30, 2022, the Company had net income of $23.0 million, net cash generated from operating activities of $50.1 million and an accumulated deficit of $87.7 million. Current assets exceed current liabilities by $40.9 million as of June 30, 2022. Total borrowings are $15.0 million, including the line of credit of $11.2 million at June 30, 2022 (See Note 13.2). The Group has cash and cash equivalents of $48.8 million as of June 30, 2022.

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern for at least a period of twelve months from the date of approval of these consolidated financial statements. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business.

During fiscal year 2022, the Company incurred non-recurring expenses due to COVID-19 (the Pandemic) of $1.6 million, primarily in the form of transportation expenses. The Company believes that its liquidity and operating cash flow will be sufficient to absorb additional costs for a period of at least 12 months from date of approval of the consolidated financial statements. Refer to Note 24 for more information on the Company’s capital risk management practices.

We believe that the Pandemic continues to present risks and opportunities for our business. Any weakening of the economy, including but not limited to, the Pandemic, rising global inflation, or rising interest rates, could have an impact on consumer demand for goods and services, thus impacting demand from consumer-facing businesses for customer support. On the other hand, our client base has a heavy preponderance of companies

that either provide online services, are enablers of the online economy, or are inflation resistant (such as healthcare providers), and are likely to see continued demand for their services despite these global economic uncertainties.

In August 2020, we detected a ransomware attack that briefly impacted a portion of our information technology systems. At no time did the attack impact our business operations or accounting systems, but the unauthorized access included the exfiltration of certain non-production data files from a file server in our backup data center. In conjunction with our containment activities, we launched an investigation, notified our insurance broker and carrier, and engaged an incident response team and cybersecurity forensics firm. In March 2022, a class action lawsuit was filed against the Company in the United States District Court for the District of Columbia alleging plaintiffs’ personal information was exposed as a result of the ransomware incident. In July 2022, the parties agreed to a preliminary settlement, which is subject to Court approval and will be fully covered by available insurance. Through the date of issuance of these financial statements, this incident has not had a material financial impact on our business, however we may incur losses associated with claims by third parties, as well as fines, penalties and other sanctions imposed by regulators relating to or arising from the incident, which could have a material adverse impact on our business, financial condition or results of operations in future periods.

The Company’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate within the level of its current monetary facilities and plans. Management therefore has a reasonable expectation that the Company has adequate resources to continue its operational existence for a period of at least twelve months from the date of approval of these consolidated financial statements, and have therefore adopted the going concern basis of accounting in preparation of these consolidated financial statements.

The Group is comprised of the Holding Company and the following direct subsidiaries with the location (country of incorporation and principal place of business), nature of business and ownership percentage:


			Ownership %
Description	Location	Nature of Business	2022		2021
Subsidiaries
IBEX Global Limited	Bermuda	Holding Company	100	%	100	%
DGS Limited	Bermuda	Holding Company	100	%	100	%
iSky Inc.	USA	Customer experience	—	%	100	%

On July 30, 2021, iSky, Inc. was converted from a C corporation to a limited liability company, by the filing of a certificate of conversion and formation with the Delaware Secretary of State. The subsidiary is now known as iSky, LLC and is a wholly-owned subsidiary of Ibex Global Solutions, Inc. Please refer to Note 29 for the indirect subsidiaries of the Holding Company.

BASIS OF PREPARATION

12 Months Ended

Jun. 30, 2022

BASIS OF PREPARATION

BASIS OF PREPARATION.

2. BASIS OF PREPARATION

2.1. Statement of compliance

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards and Interpretations (IFRS), as issued by the International Accounting Standards Board (IASB).

The principal accounting policies applied in the preparation of the consolidated financial statements are set out below. These policies have been consistently applied to all of the years presented.

These consolidated financial statements do not include any information or disclosures that, not requiring presentation due to their qualitative significance, have been determined as immaterial or of no relevance pursuant to the concepts of materiality or relevance defined in the IFRS conceptual framework, insofar as the Group’s consolidated financial statements, taken as a whole, are concerned. All amounts are presented in thousands of dollars, unless otherwise indicated, rounded to the nearest $1,000.

2.2. Basis of measurement

The consolidated financial statements have been prepared on the basis of historical cost convention, except as otherwise disclosed, and assuming that the Group will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.

For the fiscal year ended June 30, 2021, right of use assets were bifurcated from property, plant, & equipment on the statement of financial position to conform to the current year presentation. Further, the property and equipment table disclosure in footnote 6 has been updated to reflect only owned assets. These changes have no impact on previously reported financial position, net income, or cash flows.

2.3. Functional and presentation currency

As noted in Note 25.1, the Group generates approximately 97% of its revenue from clients based in the United States of America, which is denominated in United States Dollars (US$ or USD). However, the Group conducts transactions in multiple currencies to carry out its business in various other jurisdictions as needed. The consolidated financial statements are presented in US$, which is the Holding Company’s functional and presentation currency. Amounts are rounded to the nearest thousands of US$, unless otherwise stated.

Transactions denominated in foreign currencies are translated into USD at the exchange rate at the end of the previous month-end. Monetary items in the statement of financial position are translated at the closing rate at each reporting date and the relevant translation adjustments are recognized in the financial result.

2.4. Critical accounting estimates and judgments

These consolidated financial statements are prepared in conformity with IFRS as issued by the IASB, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods. Accounting estimates require the use of significant management assumptions and judgments as to future events, and the effect of those events cannot be predicted with certainty. The accounting estimates will change as new events occur, more experience is acquired and more information is obtained. We evaluate and update our assumptions and estimates on an ongoing basis and use outside experts to assist in that evaluation when we deem necessary.

In the process of applying the Group’s accounting policies, management has made the following estimates and judgments which are significant to the consolidated financial statements:

Critical accounting estimates

●	Impairment of intangibles

Goodwill: The calculation for considering the impairment of the carrying amount of goodwill requires a comparison of the recoverable amount of the cash-generating units to which goodwill has been allocated, to the value of goodwill and the associated assets in the consolidated statement of financial position. The calculation of recoverable amount requires an estimate of the future cash flows expected to arise from the cash generating unit. Judgment is applied in selection of a suitable discount rate and terminal value. The key assumptions made in relation to the impairment of goodwill are set out in Note 4.

Indefinite Lived Intangibles (patent and trademarks): The indefinite lived intangibles are tested for impairment by comparing their carrying amount to the estimates of their fair value based on estimates of discounted cash flow method. In those instances where the carrying value of an asset exceeds its recoverable amount (i.e. the higher of value in use and fair value less costs to sell), the asset is written down accordingly. For more information see Note 5.

●	Impairment of financial assets

The Group applies the IFRS 9 simplified approach to measuring expected credit losses using a lifetime expected credit loss provision for trade receivables and contract assets. To measure expected credit losses on a collective basis, trade receivables and contract assets are grouped based on similar credit risk and aging. The contract assets have similar risk characteristics to the trade receivables for similar types of contracts. For more information see Note 22.2.

●	Depreciation and amortization

Estimation of useful lives of property and equipment and intangible assets: The Group estimates the useful lives of property and equipment and intangible assets based on the period over which the assets are expected to be available for use. The estimated useful lives of property and equipment and intangible assets are reviewed periodically and are updated if expectations differ from previous estimates due to physical wear and tear, technical or commercial obsolescence and legal or other limits on the use of the assets. For more information see Note 5 and 6.

•	Market value of common shares / fair market value of warrants

The Company is listed on a public marketplace (Nasdaq) as of June 30, 2022, and June 30, 2021, and as such, has used the Black-Scholes valuation model to calculate the fair value of the share options/awards on the grant date and to calculate the fair value of warrants. The calculation of fair value includes the price per share, expected term, expected volatility, expected dividends and the risk-free interest rate.

As the Company was not listed on a public marketplace as of June 30, 2020, the calculation of the market value of its common shares is subject to a greater degree of estimation in determining the basis for any share awards that the Company may issue.

For purposes of determining the historical share-based compensation expense, the Company used the Monte Carlo simulation to calculate the fair value of the restricted stock awards (the “RSAs”) on the grant date as the Company was not listed on a public marketplace. The determination of the grant date fair value of the RSAs using a pricing model is affected by estimates and assumptions regarding a number of complex and subjective variables. These variables include the estimated fair value of the common shares, the expected price volatility

of the common shares over the expected term of the RSAs and exercise and cancellation behaviors, each of which are estimated as follows:

●

Fair value of the Company’s common shares: As the Company’s common shares are not publicly traded as of June 30, 2020, the Company must estimate the fair value of the common shares, as discussed in “Valuations of Common Shares” below.

●

Volatility: Since there is no trading history for the Company’s common shares as of June 30, 2020, the expected price volatility for the common shares was estimated using the average historical volatility of the shares of our industry peers as of the grant date of the Company’s RSAs over a period of history commensurate with the expected life of the awards. To the extent that volatility of the share price increases in the future, the estimates of the fair value of the awards to be granted in the future could increase, thereby increasing share-based payment expense in future periods. When making the selection of the industry peers to be used in measuring implied volatility of the RSAs, the Company considered the similarity of their products and business lines, as well as their stage of development, size and financial leverage. The Company intends to continue to consistently apply this process using the same or similar public companies until a sufficient amount of historical information regarding the volatility of the Company’s own share price becomes available, or unless circumstances change such that the identified companies are no longer similar to the Company, in which case, more suitable companies whose share prices are publicly available would be utilized in the calculation.

●

Expected life of the RSAs: The Company calculated the weighted-average expected life of the RSAs to be four years based on management’s best estimates regarding the effect of vesting schedules. RSAs granted may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution.

Valuations of Common Shares

Given the absence of an active market for the Company’s common shares as of June 30, 2020, the Company was required to estimate the fair value of its common shares at the time of each grant. The Company considered objective and subjective factors in determining the estimated fair value of its common shares on each RSA grant date. Factors considered by the Company included the following:

●

third-party valuations of the Company’s common shares;

●

the lack of marketability of Company’s common shares;

●

the Company’s historical and projected operating and financial performance;

●

the Company’s introduction of new services;

●

the Company’s stage of development;

●

the global economic outlook and its expected impact on the business;

●

the market performance of comparable companies; and

●

the likelihood of achieving a liquidity event for the common shares underlying the awards, such as an initial public offering or sale of the Company, given prevailing market conditions.

The Company determined valuations of its common shares for purposes of granting awards through a two-step valuation process described below. The Company first estimated the value of its equity. The Company utilized the income and market approaches to estimate its equity value. Then, the Company’s equity value was allocated across the Company’s various equity securities to arrive at a value for the common shares. The income approach, which relies on a discounted cash flow (“DCF”) analysis, measures the value of a company

as the present value of its future economic benefits by applying an appropriate risk-adjusted discount rate to expected cash flows, based on forecasts of revenue and costs.

The Company used two forms of the market approach to determine a fair market value for its equity: (i) the guideline public company method (the “GPCM”), and (ii) the merger and acquisition method (the “MAM”).

The GPCM involves the review of pricing and performance information for public companies deemed generally similar to a subject company and subject to similar industry dynamics. The MAM consists of a review of transactions involving similar companies over the last five years. The valuation conclusion was based on the income approach (using DCF analysis), GPCM, and MAM. The Company assigned more weight to the DCF as it better reflected the Company’s operations and placed less weight to the GPCM and MAM. More specifically, less weight was assigned to the MAM as compared to the GPCM given the limited number of transactions involving comparable companies, which made the MAM less meaningful relative to the GPCM.

For each valuation report, the Company first prepared a financial forecast to be used in the computation of the enterprise value using the income approach. The financial forecasts took into account our past experience and future expectations. Second, the risks associated with achieving these forecasts were assessed in selecting the appropriate discount rate. There is inherent uncertainty in these estimates. Third, the Company allocated the resulting equity value among the securities that comprise our capital structure. The aggregate value of the common shares was then divided by the number of common shares outstanding to arrive at the per share value.

Since the fair value of the Company’s common shares has been determined partially by using the DCF analysis, the valuations have been heavily dependent on the Company estimates of revenue, costs and related cash flows. These estimates are highly subjective and may change frequently based on both new operating data as well as various macroeconomic conditions that impact the Company’s business. Each of the valuations was prepared using data that was consistent with the Company’s then-current operating plans that the Company was using to manage its business.

In addition, the DCF calculations are sensitive to highly subjective assumptions that the Company was required to make relating to its financial forecasts and the selection of an appropriate discount rate, which was based on the Company’s estimated cost of equity.

The Company’s discount rate was determined based on the stage of development at each valuation date and was quantified based on a risk-free discount rate for government debt, capital markets risk, the Company’s sector and size.

The Company granted 2,373,374 restricted share awards at a fair value of $0.61 per restricted common share in December 2018. The fair value of the restricted common shares was based on a Monte Carlo simulation, which can be considered a form of the probability weighted expected return method (“PWERM”), using an equity value as determined via the income approach (present value of discounted cash flows) and the market approaches (guideline public company method and mergers and acquisition method).

On December 22, 2018, the preference shares were entitled to an aggregate of $149.2 million in participating and non-participating preference. This amount was significantly higher than the fair value of the Company as determined by the Board of Directors as of November 30, 2018 on the basis of the independent valuation referred to in the previous paragraph. Because the common shares are not entitled to any distribution until the applicable preferences are satisfied, the fair value of the common shares was significantly lower than the fair value of the preference shares on November 30, 2018.

●	Legal provisions:

The Group reviews outstanding legal cases following developments in the legal proceedings and at each reporting date, in order to assess the need for provisions and disclosures in the audited consolidated financial statements. Among the factors considered in making decisions on provisions are the nature of litigation, claim or assessment, the legal process and potential level of damages in the jurisdiction in which the litigation, claim or assessment has been brought, the progress of the case (including the progress after the date of the audited consolidated financial statements but before those statements are issued), the opinions or views of legal advisers, experience on similar cases and any decision of the Group’s management as to how it will respond to the litigation, claim or assessment. Refer to Note 16.

Judgments

●

Leases:

In some cases, judgment may be required in determining whether a contract contains a lease. This assessment involves the exercise of judgment about whether it depends on a specific lease, whether the Group obtains substantially all the economic benefits from the use of that asset and whether the Group has the right to direct the use of that asset. In addition, determining the lease term, the Group considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain (in accordance with lease contracts) to be extended (or not terminated).

The lease liability is measured at the present value of the lease payments discounted using the interest rate implicit in the lease. If the implicit rate cannot be readily determined, the Group uses an incremental borrowing rate specific to the country, term and currency of the contract. See Note 6.2 for further information.

●	Staff retirement plans:

The net defined benefit pension scheme assets or liabilities are recognized in the Group’s consolidated statement of financial position. The determination of the position requires assumptions to be made regarding future salary increases, mortality, discount rates and inflation. The key assumptions made in relation to the pension plans are set out in Note 14.1.

●	Share-based payments:

The share-based payments expense is recognized in the Group’s consolidated statement of profit or loss and other comprehensive income (loss). The key assumptions made in relation to the share-based payments are set out in Note 19.

●	Provision for taxation:

The Group is subject to income tax in several jurisdictions and significant judgment is required in determining the provision for current and deferred income taxes. During the ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain. As a result, the Company recognizes tax liabilities based on estimates of whether additional taxes and interest will be due. Although the Group believes that its tax positions are supportable, these tax positions could still be challenged by the tax authorities upon review. The Company believes that its accruals for tax liabilities are adequate for all open audit years based on its assessment of many factors including past experience and interpretations of tax law.

Management evaluates the recoverability of deferred income tax assets by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies, which heavily rely on estimates.

This assessment relies on estimates and assumptions and may involve a series of complex judgments about future events. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will impact current and deferred income tax expense in the period in which such determination is made.

The key assumptions made in relation to tax provisioning are set out in Note 18.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jun. 30, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3.1. Basis of consolidation

The consolidated financial statements present the results of the Holding Company and its subsidiaries as if they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

Where the Company has control over an investee, it is classified as a subsidiary. The Company controls an investee if all three of the following elements are present:

●	power over the investee,

●	exposure to variable returns from the investee, and

●	the ability of the investor to use its power to affect those variable returns.

Control is reassessed whenever facts and circumstances indicate that there may be a change in any of these elements of control.

De-facto control exists in situations where the Company has the practical ability to direct the relevant activities of the investee without holding the majority of the voting rights. In determining whether de-facto control exists the Company considers all relevant facts and circumstances, including:

●	The size of the company’s voting rights relative to both the size and dispersion of other parties who hold voting rights

●	Substantive potential voting rights held by the Company and by other parties

●	Other contractual arrangements

●	Historic patterns in voting attendance

The consolidated financial statements incorporate the results of business combinations using the acquisition method. In the consolidated statement of financial position, the acquiree’s identifiable assets, liabilities and contingent liabilities are initially recognized at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of profit or loss and other comprehensive income (loss) from the date on which control is obtained. They are deconsolidated from the date on which control ceases.

Joint arrangements

The Group is a party to a joint arrangement when there is a contractual arrangement that confers joint control over the relevant activities of the arrangement to the Group and at least one other party. Joint control is assessed under the same principles as control over subsidiaries.

The group classifies its interests in joint arrangements as either:

●	Joint ventures: where the Group has rights to only the net assets of the joint arrangement

●	Joint operations: where the Group has both the rights to assets and obligations for the liabilities of the joint arrangement.

In assessing the classification of interests in joint arrangements, the Group considers:

●	The structure of the joint arrangement

●	The legal form of joint arrangements structured through a separate vehicle

●	The contractual terms of the joint arrangement agreement

●	Any other facts and circumstances (including any other contractual arrangements).

Joint ventures are initially recognized in the consolidated statement of financial position at cost. Subsequently joint ventures are then accounted for using the equity method, where the Group’s share of post-acquisition profits and losses and other comprehensive income is recognized in the consolidated statement of profit or loss and other comprehensive income (loss) (except for losses in excess of the Group’s investment in the joint ventures unless there is an obligation to make good those losses).

Any premium paid for an investment in a joint venture above the fair value of the Group’s share of the identifiable assets, liabilities and contingent liabilities acquired is capitalized and included in the carrying amount of the investment in joint venture. Where there is objective evidence that the investment in a joint venture has been impaired the carrying amount of the investment is tested for impairment in the same manner as other non-financial assets.

Unrealized gains on transactions between the Group and its joint ventures are eliminated to the extent of the Group’s interest in the joint ventures. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of the joint ventures have been changed where necessary to ensure consistency with the policies adopted by the Group.

3.2. Property and equipment

Owned

Items of property, plant and equipment are initially recognized at cost. The initial cost of an item of property and equipment consists of its purchase price including import duties, taxes and directly attributable costs of bringing the asset to its working condition and location for the intended use. Additionally, any direct labor costs that is directly attributable to the development of software is capitalized.

Depreciation on assets under construction does not commence until they are complete and available for use. Depreciation is provided on all other items of property, plant and equipment so as to reduce their carrying value over their expected useful economic lives.

Depreciation on property and equipment is provided using the straight line method. A full month’s depreciation is charged in the month of addition, and no depreciation is charged in the month of disposal. Rates of depreciation are disclosed in Note 6.


		Depreciation
Property and equipment	Useful economic life	method
Leasehold improvements	Expected term of lease	Straight line
Furniture, fixture and office equipment	3 - 5 years	Straight line
Computer equipment	3 years	Straight line
Vehicles	5 years	Straight line
Right of Use Assets	Expected term of lease	Straight line

The assets’ residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted prospectively, if appropriate.

Right of use assets and lease liabilities

The Group recognizes a right-of-use asset and a lease liability at the commencement date, except for short-term leases of 12 months or less and low value. Measurement of right-of-use assets and lease liabilities are as follows:

The lease liability is initially measured at the commencement date at the present value of the remaining lease payments using the incremental borrowing rate specific to the country, term and currency of the contract. The lease liability is subsequently measured at amortized cost using the effective interest rate method and re-measured (with a corresponding adjustment to the related ROU asset) when there is change in future lease payments in case of renegotiation, change of an index or rate or in case of reassessment of options.

At inception, the ROU asset comprises the initial lease liability, initial direct costs and the obligation to refurbish the asset, less any incentives granted by the lessors. The ROU asset is depreciated over the shorter of the lease term or the useful life of the underlying asset. The ROU asset is subject to testing for impairment if there is an indicator for impairment, as indicated in Note 3.4.

Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less.

ROU assets are included in the heading Property and Equipment (see Note 6.1), the lease liability is shown separately as current and non-current in the statements of financial position, and interest on the lease liability is included in the heading Finance Expenses.

The gains and losses on disposal of assets or termination of right of use assets are recognized in the consolidated statement of profit or loss.

Right of use assets are transferred to owned assets when the Group makes early payment or when there is an option to exercise purchase option and the Group exercises it.

3.3. Intangible assets

3.3.1. Goodwill

Goodwill represents the excess of the cost of a business combination over the total acquisition date fair value of the identifiable assets, liabilities and contingent liabilities acquired.

Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued, plus the amount of any non-controlling interests in the capital plus, if the business combination is achieved in stages, the fair value of the existing equity interest in the capital. Contingent consideration is included in cost at its acquisition date fair value and, in the case of contingent consideration classified as a financial liability, re-measured subsequently through the consolidated statement of profit or loss. Direct costs of acquisition are expensed immediately.

Goodwill is capitalized as an intangible asset with any impairment in carrying value being charged to the profit or loss. Where the fair value of identifiable assets, liabilities and contingent liabilities exceed the fair value of consideration paid, the excess is credited in full to the profit or loss on the acquisition date.

3.3.2. Other intangible assets

Externally acquired intangible assets (such as software) are initially recognized at cost and subsequently amortized on a straight-line basis over their useful economic lives.

Intangible assets are recognized on business combinations if they are separable from the acquired entity or give rise to other contractual/legal rights. The amounts ascribed to such intangibles are arrived at by using appropriate valuation techniques.

Expenditure on internally developed products is capitalized if it can be demonstrated that:

●	it is technically feasible to develop the product for it to be sold

●	adequate resources are available to complete the development

●	there is an intention to complete and sell the product

●	the Group is able to sell the product

●	sale of the product will generate future economic benefits, and

●	expenditure on the project can be measured reliably

Capitalized development costs are amortized over the periods the Group expects to benefit from selling the products developed. The amortization expense is included within the “Depreciation and amortization” line in the profit or loss. Development expenditures not satisfying the above criteria and expenditures associated with the research phase of internal projects is charged out in the consolidated statements of profit or loss and other comprehensive income / (loss).

Trademarks and patents are capitalized at cost of acquisition and are not amortized but are tested for impairment annually. Trademarks and patents have an indefinite life on the grounds of the proven longevity of the trademarks or patents and the Group’s commitment to maintaining those trademarks or patents. The significant intangibles recognized by the Group, their useful economic lives and the methods used to determine the cost of intangibles acquired in a business combination are as follows:


Intangible Asset	Useful economic life	Valuation method
Customer lists	5 - 6 years	Straight line
Software	3 - 5 years	Straight line

3.4. Impairment of non-financial assets

Goodwill and other intangibles:

Impairment tests on goodwill and other intangible assets with indefinite useful economic lives are undertaken annually at the financial year end. Additionally, these assets are subject to impairment tests whenever events or changes in circumstances which indicate that their carrying amount may not be recoverable. In those instances where the carrying value of an asset exceeds its recoverable amount (i.e. the higher of value in use and fair value less costs to sell), the asset is written down accordingly.

When it is not possible to estimate the recoverable amount of an individual asset, the impairment test is carried out on the smallest group of assets to which it belongs for which there are separately identifiable cash flows; its cash generating units (“CGUs”).

Goodwill is allocated on initial recognition to each of the Group’s CGUs that are expected to benefit from a business combination that gives rise to the goodwill.

Property and Equipment:

The carrying amounts of the Group’s assets including right-of-use assets are reviewed at the end of each reporting period to determine whether there is any indication of impairment loss. If any such indication exists, the asset’s recoverable amount is estimated in order to determine the extent of the impairment loss, if any. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less cost to sell and value in use. Impairment losses are charged to the profit and loss in other operating expenses.

Impairment charges are included in the profit or loss, except to the extent they reverse gains previously recognized in other comprehensive income.

3.5. Financial instruments

3.5.1. Financial assets

The Group classifies its financial assets at amortized cost or fair value through other comprehensive income (“FVTOCI”). The Group has not classified any of its financial assets at fair value through profit or loss.

Fair value through other comprehensive income (“FVTOCI”):

The Group uses cash flow hedges to manage interest rate risk. The swaps are accounted for at fair value at each balance sheet date and the changes in the market price are recorded in other comprehensive income.

The positive fair values of interest rate swaps are included in other receivables and other comprehensive income. The negative fair values of interest rate swaps are included in payables and other comprehensive income.

The Group entered into foreign currency exchange contracts, consisting of offsetting foreign exchange option contracts (“zero-cost collars” or “collars”) to mitigate foreign exchange fluctuations on the Philippine Peso (“PHP”), within a certain range and on a certain percentage of its PHP operating costs.

The zero-cost collars were recognized, in accordance with IFRS 9, as financial assets (or liabilities, as applicable) at fair value through other comprehensive income.

Financial assets at amortized cost:

The Group includes in this category trade and other receivables, deposits, due from related parties and cash and cash equivalents.

These assets are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise principally through the provision of goods and services to customers (e.g. trade receivables), but also incorporate other types of contractual monetary asset.

They are initially recognized at fair value plus transaction costs that are directly attributable to their acquisition or issue, and are subsequently carried at amortized cost using the effective interest rate method, less provision for impairment.

For impairment provisions, the Group applies the IFRS 9 simplified approach to measure expected credit losses using a lifetime expected credit loss provision for trade receivables to measure expected credit losses on a collective basis. Trade receivables are grouped based on a similar credit risk and aging. The Company measures Expected Credit Losses (ECL) and recognizes credit loss allowance at each reporting date. The measurement of ECL reflects: (i) an unbiased and probability weighted amount that is determined by evaluating a range of possible outcomes, (ii) time value of money and (iii) all reasonable and supportable information that is available without undue cost and effort at the end of each reporting period about past events, current conditions and forecasts of future conditions. The expected loss rates are based on the Group’s historical credit losses experienced over the three year period prior to the period end. The historical loss rates are then adjusted for current and forward-looking information on macroeconomic factors affecting the Group’s customers. The Group has identified the gross domestic product (GDP), unemployment rate and inflation rate as the key macroeconomic factors in the countries where the Group operates. Other financial assets includes time deposits and other receivables, and the Group has determined that credit risk has not increased significantly on those assets and considers to have low credit risks at the reporting date.

The Group applies the IFRS 9 general approach to measure expected credit losses using a lifetime expected credit loss provision for related party balances to measure expected credit losses on a collective basis.

From time to time, the Group elects to renegotiate the terms of trade receivables due from customers with which it has previously had a good trading history. Such renegotiations will lead to changes in the timing of payments rather than changes to the amounts owed and, in consequence, the new expected cash flows are discounted at the original effective interest rate and any resulting difference to the carrying value is recognized in the profit and loss.

The Group’s assets at amortized costs comprise trade and other receivables, deposits, due from related parties and cash and cash equivalents in the consolidated statement of financial position.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, and other short term highly liquid investments with original maturities of three months or less.

3.5.2. Financial liabilities

The Group classifies its financial liabilities into one of three categories, depending on the purpose for which the liability was acquired.

Fair value through profit and loss (“FVTPL”):

The warrant liability is classified as a financial liability at FVTPL and valued using the Black-Scholes model (June 30, 2020: Monte Carlo simulation). Financial liabilities at FVTPL are stated at fair value, with any gains or losses arising on re-measurement recognized in profit or loss.

Fair value through other comprehensive income (“FVTOCI”):

The zero-cost collars were recognized, in accordance with IFRS 9, as financial assets (or liabilities, as applicable) at fair value through other comprehensive income.

Financial liabilities at amortized cost:

The Group includes in this category trade and other payables, borrowings, and due to related parties.

Trade payables and other short-term monetary liabilities, which are initially recognized at fair value and subsequently carried at amortized cost using the effective interest method. Gains and losses are recognized in the profit or loss when the liabilities are derecognized as well as through the effective interest rate method amortization process. The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest costs over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability or (where appropriate) to the net carrying amount on initial recognition.

Financial liabilities at amortized cost are initially recognized at fair value net of any transaction costs directly attributable to the issue of the instrument.

Interest bearing liabilities are subsequently measured at amortized cost using the effective interest rate method, which ensures that any interest expense over the period to repayment is at a constant rate on the balance of the liability carried in the consolidated statement of financial position.

For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Receivables and payables made to the Group companies outside the control of IBEX Limited are presented under the heading due to/from related parties. When denominated in a currency other than the US dollar, they are translated to US dollar at closing rates. Related parties receivables and payables are initially recognized at fair value and subsequently measured at amortized cost.

3.6. Trade receivables

Trade receivables are recognized and carried at original invoice amount less an allowance for expected credit losses.

3.7. Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short term highly liquid investments with original maturities of three months or less. Bank overdrafts are shown within loans and borrowings in current liabilities on the consolidated statement of financial position.

3.8. Revenue from Contracts with Customers

IFRS 15 lays out a five-step process to ascertain the amount and timing of revenue that should be recognized.

●	Step 1: Identify the contract: The Company determines whether a contract exists between the reporting entity and customers that identifies rights, payment terms, has commercial substance and basis for collectability can be determined.

●	Step 2: Identify the Performance Obligations: The Company reviews the nature of the goods or service to be rendered in the contract and whether these are distinct. The reporting entity should recognize the revenue when it satisfies the performance obligations.

●

Step 3: Determine the transaction price: The amount of consideration expected to be received is defined which may be fixed or variable. With variable consideration the reporting entity can reasonably estimate the expected consideration. This step includes consideration of the various criteria which need to be identified and analyzed in determining whether revenues are fixed, variable or both.

●	Step 4: Allocate the transaction price to the performance obligations in the contracts – Where separate performance obligations exist, the reporting entity allocates and assigns the consideration to the respective performance obligations.

●	Step 5: Revenue Recognition: Recognize revenue to when the entity satisfies the performance obligations.

Revenues from contact center services are recognized over the period as the services are performed on the basis of the number of billable hours or other contractually agreed metrics. Revenues from inbound and outbound telephonic and internet-based communication services that are customized to the customers’ needs are recognized at the contractual rates as services are provided. Revenues for the initial training that occurs upon commencement of a new client contract are deferred and recognized over the estimated life of the client program if that training is billed to a client. Training revenues are deferred and then recognized on a straight-line basis over the life of the client contract, as it is not considered to have a standalone value to the customer. The related expenses are immediately charged to payroll and related expenses in the statement of profit or loss as incurred. Revenues are recognized in the amount as per the contractual billing rights which has a right to invoice net of discounts, incentives, and other credits as per contractual terms. The contact center solutions

consist of customer service, technical support and other value added outsourced back office services. This omni-channel offering is delivered through voice, email, chat, SMS, social media and other communication applications. Capital expenditure, billed to the client at actual cost, is deferred and then recognized on a straight-line basis over the life of the client contract.

Revenues from CX services are recognized over the period of a client’s subscription contract on a basis that reflects usage of the product at the client’s location. Revenues and expenses related to set-up fees to customize the customer experience solution for client’s specific needs are deferred and recognized on a straight-line basis over the period in which the related service delivery is expected to be performed. Revenues related to additional consulting services are recognized over the period as the related services are performed on a per hour basis. The customer experience solution is comprised of a comprehensive suite of proprietary software tools to measure, monitor and manage the customer experience.

Revenues from Digital services are recognized upon the successful purchase of clients’ services as reported to the Group in monthly, semi-monthly or weekly intervals by clients. The data provided by clients to the Group include detail on pricing and product level activations from all channels (i.e. web-portal orders, call center orders, or affiliate or partner orders placed on the Group’s behalf) on the basis of which the clients calculate the payments owed to the Group. The payments received are reconciled to the activation data transmitted to the Group by the clients. Revenue is recognized from Digital Services at a point of time. Most of the digital solutions are based on two steps: (a) generating or purchasing a lead or a prospect, and (b) converting that lead or prospect into a customer, most frequently through a voice-based channel. Customers are primarily acquired for clients in the telecommunications, cable, technology and insurance industries.

For renewal commissions, the Group incorporates a combination of historical lapse and premium increase data along with available industry and insurance carrier experience data to estimate forecasted renewal consideration and constrain revenue recognized to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The uncertainty associated with the variable consideration is subsequently resolved when the policy renews.

Costs of fulfilling contracts do not result in the recognition of an asset as the majority of revenue is recognized over time and control of the asset is transferred to the customer when the service is transferred therefore no asset in relation to costs to fulfil contracts has been recognized. In relation to costs incurred to obtain a contract, no asset is recognized because the majority of costs (i.e. travel, employee commission, administrative expenses) are short-term in nature and also insignificant therefore they are recognized in the profit and loss account when incurred.

3.9. Provisions

A provision is recognized in the statement of financial position when the Group has a legal or constructive obligation as a result of a past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

The Group has recognized provisions against legal disputes. Provisions are made for costs to defend legal disputes where it is considered that an outflow of economic benefit is probable. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognized as interest expense in profit and loss. Provisions are reviewed at each statement of financial position date and adjusted to reflect the current best estimate. The provisions are recognized in trade and other payables.

3.10. Retirement benefits

Defined contribution pension schemes

Contributions to defined contribution pension schemes are charged to the profit or loss in the year to which they relate.

United States based subsidiaries

The Group’s United States (“US”) based subsidiaries have qualified defined contribution plans. Employees who meet certain eligibility requirements, as defined, are able to contribute up to federal annual maximums. The retirement plan provides for company matching contributions of 100% of the first 3% of employee contributions to the retirement plan and 50% of the next 2% of the employee contributions to the retirement plan. All company matching contributions are 100% vested.

TRG Marketing Solutions Limited

This subsidiary operates a defined contribution pension plan with a third party. Under this scheme, TRG Marketing Solutions Limited makes contributions for employees who have not opted out of the voluntary pension scheme.

Virtual World (Private) Limited and IBEX Global Solutions (Private) Limited

Virtual World (Private) Limited, IBEX Global Solutions (Private) Limited, and DGS (Private) Limited operate a defined contribution plan (i.e. recognized provident fund scheme) for all its permanent employees. The assets of the fund are held separately under the control of trustees for such fund. Contributions made by the subsidiaries are charged to the profit or loss.

Defined benefit schemes

Defined benefit scheme surpluses and deficits are measured at:

●	The fair value of plan assets at the reporting date; less

●

Plan liabilities calculated using the projected unit credit method discounted to its present value using yields available on high quality corporate bonds that have maturity dates approximating to the terms of the liabilities and are denominated in the same currency as the post-employment benefit obligations; less

●	The effect of minimum funding requirements agreed with scheme trustees

Re-measurements of the net defined obligation are recognized directly within other comprehensive income. The re-measurements include:

●	Actuarial gains and losses

●	Return on plan assets (interest exclusive)

●	Any asset ceiling effects (interest exclusive)

Service costs are recognized in the profit or loss, and include current and past service costs as well as gains and losses on curtailments.

Net interest expense / income is recognized in the profit or loss, and is calculated by applying the discount rate used to measure the defined benefit obligation / asset at the beginning of the annual period to the balance of the net defined benefit obligation / asset, considering the effects of contributions and benefit payments during the period.

Gains or losses arising from changes to scheme benefits or scheme curtailment are recognized immediately in the profit or loss. Settlements of defined benefit schemes are recognized in the period in which the settlement occurs.

IBEX Philippines, Inc. and IBEX Global Solutions (Philippines) Inc. operate an unfunded defined benefit scheme.

Under the plan, pension costs are actuarially determined using the projected unit credit method. This method considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. Gains or losses on the curtailment or settlement of pension benefits are recognized when the curtailment or settlement occurs. All actuarial gains and losses are recognized in the year in which they arise, with re-measurements presented within other comprehensive income. The net interest cost is derived by applying a single discount rate to the net surplus or deficit of the fund.

3.11. Share-based payments

The Group has a number of share based compensation plans under which it grants share options, restricted stock awards and restricted stock units.

The Company uses the fair value method of accounting for the share options, restricted stock award plan and long-term incentive plan. The fair value of these share options are estimated using the Black-Scholes valuation model and Monte Carlo simulation as applicable. The measurement of share options at fair value is based on the option pricing model taking into account the following variables:

●	The share price.

●	The strike price.

●	Volatility determined based on historical prices of our shares.

●	The duration, which has been estimated as the difference between the valuation date of the warrant plans and final exercise date.

●	The risk free interest rate.

During the years ended June 30, 2022 and 2021, the grant date fair value of any new stock and option grants were calculated using the Black-Scholes valuation model, however, prior to the Company becoming public, the grant date fair value of any stock and option grants were calculated using a Monte Carlo simulation model.

Where equity settled share options are awarded to employees, the fair value of the options at the date of grant is charged to the profit or loss over the vesting period.

Where the terms and conditions of awards are modified before they vest, the increase in the fair value of the awards, measured immediately before and after the modification, is also charged to the consolidated statement of comprehensive income over the remaining vesting period.

The Group also operates a Phantom share option scheme (a cash settled share-based payment). An option pricing model (Black-Scholes) is used to measure the Group’s liability at each reporting date, taking into account

the terms and conditions and the extent to which employees have rendered service. Movements in the liability (other than cash payments) are recognized in the profit or loss. For additional information, please refer to Note 19.

3.12. Warrants

The Company accounts for the warrants to purchase its common shares in accordance with the provisions of IAS 32 − Financial Instruments: Presentation and IFRS 9 – Financial Instruments. The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).

The Company assessed the classification of the warrant as of the date it was issued and determined that such instruments met the criteria for liability classification. The warrant is reported on the consolidated statement of financial position as a liability at fair value using the Black-Scholes valuation method. The initial value was recorded on the consolidated statements of financial position with the common shares underlying the warrant which have vested recorded as contra revenue and the remainder recorded to long-and short-term assets.

The total fair value of the warrant liability is determined at the end of each reporting period by multiplying the fair value of a warrant by the total number of warrants that are expected to vest under the arrangement based on the satisfaction of the specified revenue milestones provided in the warrant. The total number of warrants that are expected to vest is based upon the cumulative revenues that are expected, as determined at the end of each reporting period, to be earned from Amazon during a period of 7.5 years ending on June 30, 2024.

The measurement of the warrant at fair value as of the initial measurement date is based on the Black-Scholes valuation model taking into account the following variables:

●	The share price.

●	The strike price.

●	Volatility determined based on historical prices of our shares.

●	The duration, which has been estimated as the difference between the valuation date of the warrant plans and final exercise date.

●	The risk free interest rate.

At the end of each reporting period, the Company has fair valued the warrant liability with changes in fair value through profit and loss. For the years ended June 30, 2022 and June 30, 2021, the Company used the Black-Scholes valuation model, which requires the input of subjective assumptions, including the expected volatility and the expected term.

The Company considers a variety of factors in estimating the fair value of its common shares on each measurement date, including:

●	the Company’s historical and projected operating and financial performance;

●	the Company’s introduction of new products and services;

●	the Company’s completion of strategic acquisitions;

●	the Company’s stage of development;

●	the global economic outlook and its expected impact on the Company’s business; and

●	the market performance of comparable companies.

The assets will be amortized on a systematic basis over the life of the arrangement as revenue is recognized for the transfer of the related goods or services as included Note 3.8. The Company will review the asset on a reporting period basis to determine whether an impairment is required. In the event that an impairment is needed, the Company will reduce the asset and offset to revenues.

3.13. Treasury Shares

Share buyback

In December 2021, the Company’s board of directors authorized the repurchase of up to $20 million of its common stock. The Company’s proposed repurchases may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legal permissible means, depending on the market conditions and in accordance with applicable rules and regulations. The actual timing, number, and dollar amount of repurchase transactions will be determined by management at its discretion and will depend on a number of factors including, but not limited to, the market price of the Company’s common shares, general market and economic conditions, and compliance with Rule 10b-18 and/or Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The repurchase program does not obligate the Company to acquire any particular amount of common shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. As of June 30, 2022, the Company repurchased 227,889 shares of its common stock totaling $3.4 million.

When shares are repurchased, the amount of the consideration paid (including directly attributable costs, net of any tax effects) is recognized as a deduction of additional paid in capital. Repurchased shares are classified as treasury shares and are presented as a deduction from total equity. When treasury shares are subsequently sold or reissued, the amount received is recognized as an increase in additional paid in capital, and any resulting surplus or deficit on the transaction is reclassified to accumulated deficit.

3.14. Income taxes

Current tax

Current tax expense is based on taxable income at the current rates of taxation of the respective jurisdictions after taking into account applicable tax credits, rebates and exemptions available, if any.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions, where appropriate, on the basis of amounts management expects to pay to the tax authorities. Any such provisions are based on estimates and are subject to changing facts and circumstances considering the progress of ongoing tax audits, case law and new legislation.

Deferred tax

Deferred tax assets and liabilities are recognized where the carrying amount of an asset or liability in the consolidated statement of financial position differs from its tax base, except for differences arising on:

●	The initial recognition of goodwill,

●	The initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting or taxable profit, and

●	Investments in subsidiaries and jointly controlled entities where the Group is able to control the timing of the reversal of the difference and it is probable that the difference will not reverse in the foreseeable future.

Recognition of deferred tax assets is restricted to those instances where it is probable that taxable profit will be available against which the difference can be utilized.

The amount of the asset or liability is determined using tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply when the deferred tax liabilities / assets are settled / recovered.

Deferred tax assets and liabilities are offset when the Group has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority on either:

●	The same taxable group company, or

●

Different group entities which intend either to settle current tax assets and liabilities on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax assets or liabilities are expected to be settled or recovered.

3.15. Foreign Currency

Foreign currency translation

Transactions entered into by Group entities in a currency other than the currency of the primary economic environment in which they operate (their “Functional Currency”) are recorded at the rates ruling when the transactions occur. Foreign currency monetary assets and liabilities are translated at the rates ruling at the reporting date. Exchange differences arising on the retranslation of unsettled monetary assets and liabilities are recognized immediately in the profit or loss. The net exchange losses amounted to $0.1 million for the year ended June 30, 2022 (June 30, 2021: $0.2 million; June 30, 2020: $0.4 million).

On consolidation, the results of overseas operations are translated into dollars at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations, including goodwill arising on the acquisition of those operations, are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at the opening rate and the results of overseas operations at the actual rate are recognized in other comprehensive income and accumulated in the foreign exchange reserve. Exchange differences are recognized as profit or loss in the Group entities’ separate consolidated financial statements on the translation of long-term monetary items forming part of the Group’s net investment in the overseas operation concerned are reclassified to other comprehensive income and accumulated in the foreign exchange reserve on consolidation.

On disposal of a foreign operation, the cumulative exchange differences recognized in the foreign exchange reserve relating to that operation up to the date of disposal are transferred to the profit or loss as part of the profit or loss on disposal.

3.16. Offsetting of financial assets and financial liabilities

Financial assets and financial liabilities are offset when the entity has a legally enforceable right to offset the recognized amounts and intends either to settle these on net basis or to realize the assets and settle the liabilities simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or winding up of the entity or the counterparties.

3.17. Dividend

Dividends declared subsequent to the balance sheet date are considered as non-adjusting events and are recognized in the consolidated financial statements in the year in which such dividends are approved / transfers are made.

3.18. Derivative instruments and hedge accounting

The Group designates and documents the use of certain derivatives as hedging instruments against changes in fair values of recognized assets and liabilities (fair value hedges) and highly probable forecast transactions (cash flow hedges). The effectiveness of such hedges is assessed at inception and verified at regular intervals and at least on a quarterly basis to ensure that an economic relationship exists between the hedged item and the hedging instrument.

The Group uses cash flow hedges to mitigate a particular risk associated with a recognized asset or liability or highly probable forecast transactions, such as variability of expected interest payments and receipts.

If a highly probable forecast transaction results in the recognition of a non-monetary asset, the cumulative loss / (gain) is added to / (subtracted from) the cost of the asset acquired (“basis adjustment”). The same approach is followed where a cash flow hedge of a hedged forecast transaction for a non-financial asset or non-financial liability becomes a firm commitment to which fair value hedge accounting is applied. Otherwise the cumulative gain or loss recognized in other comprehensive income is reclassified from the cash flow hedge reserve to profit or loss at the same time as the hedged transaction affects profit or loss. The two transactions are recognized in the same line item. If a forecast transaction is no longer considered highly probable but the forecast transaction is still expected to occur, the cumulative gain or loss recognized in other comprehensive income is frozen and recognized in profit or loss. Subsequent changes in the fair value of the derivative are recognized in profit or loss. If the Group closes out its position before the transaction takes place (even though it is still expected to take place) the cumulative gain or loss on changes in fair value of the derivative is similarly recognized. If, at any point, the hedged transaction is no longer expected to occur, the cumulative gain or loss is reclassified from the cash flow hedge reserve to profit or loss immediately. The effective portion of gains and losses on derivatives used to manage cash flow interest rate risk (such as floating to fixed interest rate swaps) are also recognized in other comprehensive income and accumulated in the cash flow hedge reserve. However, if the Group closes out its position early, the cumulative gains and losses recognized in other comprehensive income are frozen and reclassified from the cash flow hedge reserve to profit or loss using the effective interest method. The ineffective portion of gains and losses on derivatives used to manage cash flow interest rate risk are recognized in profit or loss within finance charges.

Derivative instruments and hedge accounting

The Group implemented a foreign currency hedging program in August 2021 to mitigate its risk from fluctuations in the Philippine Peso (relative to the US Dollar) related to its operating costs in the Philippines. The Group uses foreign currency option contracts to mitigate a portion of the risk related to foreign exchange movements. The Group also has an interest rate swap to mitigate its risk to interest rate fluctuations related to its line of credit.

Derivatives are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently remeasured to fair value at the end of each reporting period. The derivatives are designated and effective as hedging instruments upon inception, and therefore the changes in fair value prior to the settlement of the derivative are recognized in other comprehensive income as long as they remain effective.

A derivative with a positive fair value is recognized as a financial asset whereas a derivative with a negative fair value is recognized as a financial liability. Derivatives are not offset in the financial statements unless the

Group has both a legally enforceable right and intention to offset. A derivative is presented as a non–current asset or a non–current liability if the settlement date of the instrument is more than 12 months from the end of the reporting period.

The Group designates all of its derivatives as hedging instruments with respect to foreign currency risk and interest rate risk as cash flow hedges. At the inception of the hedge relationship, the Group documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking the hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Group documents whether the hedging instrument is effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk, which is when the hedging relationships meet all of the following hedge effectiveness requirements:

●	there is an economic relationship between the hedged item and the hedging instrument;

●	the effect of credit risk does not dominate the value changes that result from that economic relationship; and

●	the hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item.

If a hedging relationship ceases to meet the hedge effectiveness requirement relating to the hedge ratio but the risk management objective for that designated hedging relationship remains the same, the Group adjusts the hedge ratio of the hedging relationship (i.e. rebalances the hedge) so that it meets the qualifying criteria again.

The Group excludes time value from its designations of its hedging relationships.

The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income and accumulated under the heading of cash flow hedging reserve, limited to the cumulative change in fair value of the hedged item from inception of the hedge. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss and is included in the “finance expenses” line item. Amounts previously recognized in other comprehensive income and accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss, in the same line as the recognized hedged item.

The Group discontinues hedge accounting only when the hedging relationship (or a part thereof) ceases to meet the qualifying criteria (after rebalancing, if applicable). This includes instances when the hedging instrument expires or is sold, terminated, or exercised. The discontinuation is accounted for prospectively. Any gain or loss recognized in other comprehensive income and accumulated in cash flow hedge reserve at that time remains in equity and is reclassified to profit or loss when the forecast transaction occurs. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in cash flow hedge reserve is reclassified immediately to profit or loss.

For more information, please see Note 22.

3.19. Standards, interpretations and amendments not yet effective

●

On January 23, 2020, the International Accounting Standards Board (IASB or the Board) issued amendments to IAS 1 Presentation of Financial Statements (the amendments) to clarify that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. These amendments should be applied for annual periods beginning on or

after January 1, 2022, retrospectively in accordance to IAS 8. On July 15, 2020, IASB issued an amendment that defers the effective date of January 2020 amendments by one year, so that the entities would be required to apply the amendment for annual periods beginning on or after January 1, 2023. The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

●

On February 12, 2021, the IASB issued amendments to IAS 1 to improve the accounting policy disclosures so that they provide more useful information to investors and other primary users of the financial statements. The amendments to IAS 1 require companies to disclose their material accounting policy information rather than their significant accounting policies. These amendments should be applied for annual periods beginning on or after January 1, 2023, prospectively. The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

●

On February 12, 2021, the IASB issued amendments to IAS 8 to help entities distinguish between accounting policies and accounting estimates. The amendments to IAS 8 clarifies that:

accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty.”

Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty.

Change in accounting estimate that results from new information or new developments is not the correction of an error. In addition, the effects of a change in an input or a measurement technique used to develop an accounting estimate are changes in accounting estimates if they do not result from the correction of prior period errors.

A change in an accounting estimate may affect only the current period’s profit or loss, or the profit or loss of both the current period and future periods. The effect of the change relating to the current period is recognized as income or expense in the current period. The effect, if any, on future periods is recognized as income or expense in those future periods.

These amendments should be applied for annual periods beginning on or after January 1, 2023, prospectively. The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

●

On May 7, 2021, the IASB has published ‘Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12)’. The Board amends IAS 12 to provide a further exception from the initial recognition exemption. Under the amendments, an entity does not apply the initial recognition exemption for transactions that give rise to equal taxable and deductible temporary differences. The amendments are effective for annual reporting periods beginning on or after January 1, 2023.

The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

GOODWILL

12 Months Ended

Jun. 30, 2022

GOODWILL.

GOODWILL

4. GOODWILL


	June 30,	June 30,
	2022	2021
	(US$’000)
Goodwill as of beginning of the year	11,832	11,832
Goodwill acquired during the year	—	—
Goodwill impaired during the year	—	—
Goodwill as of end of the year	11,832	11,832

The calculation of value in use for the business operations is most sensitive to changes in the following assumptions which are discussed below, together with the amounts by which these key assumptions would have to change (independent of other changes in assumptions) for an impairment to arise. Management has calculated the recoverable amount of the cash generating unit to exceed its carrying amount by $254.0 million.

Testing for impairment of goodwill

Key assumptions applied in impairment testing

The recoverable amounts of all the CGUs have been determined from value in use calculations based on cash flow projections from formally approved budgets covering a three year period from 2022 to 2024. The first year of the projections is based on detailed budgets prepared by management as part of the Group’s performance and control procedures. Subsequent years are based on extrapolations using the key assumptions listed below which are management approved projections. The discount rate applied to cash flow projections beyond three-years is extrapolated using a terminal growth rate which represents the expected long-term growth rate of the Business Process Outsourcing (“BPO”) sector.

The following rates were used by the Group for the years ended June 30, 2022, 2021 and 2020:


	Average	Average		Terminal
	revenue	Gross	Discount	Growth
	growth rate	Margin	Rate	Rate
	%	%	%	%
June 30, 2022	7.1	28.9	15.6	5
June 30, 2021	9.2	29.0	13.2	5
June 30, 2020	7.9	26.2	13.2	5

The calculation of value in use for the business operations is most sensitive to changes in the following assumptions:

Revenue growth

Revenue growth assumptions have been derived from projections prepared by management. Management is of the view that these assumptions are reasonable considering current market conditions. An impairment in the carrying value of goodwill would not arise if the 2022-2024 average revenue growth rate declined to nil. Over the projected period of three years, COVID-19 has not significantly impacted the revenue and gross margins of the Company.

Cost of sales and gross margin

Cost of sales has been projected on the basis of multiple strategies planned by management to ensure profitable operations. These strategies include cost minimization mechanisms such as offshore migration of labor, centralization of support activities and increasing efficiency of service delivery, resulting in improved gross margins over the forecasted period.

Discount rate

Discount rates reflect management estimates of the rate of return required for the business and are calculated after taking into account the prevailing risk-free rate, industry risk and business risk. Discount rates are calculated using the weighted average cost of capital. An impairment in the carrying value of goodwill would not arise if the weighted average cost of capital were to increase significantly.

OTHER INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2022

OTHER INTANGIBLE ASSETS.

OTHER INTANGIBLE ASSETS

5. OTHER INTANGIBLE ASSETS


			Customer
	Patents	Trademarks	lists	Software	Total
	(US$’000)
Cost
At July 1, 2021	541	371	2,817	21,949	25,678
Additions	—	—	—	1,270	1,270
Foreign exchange movements	—	—	—	(110)	(110)
At June 30, 2022	541	371	2,817	23,109	26,838
Accumulated amortization
At July 1, 2021	196	—	2,637	19,636	22,469
Amortization charge for the year	—	—	27	1,315	1,342
At June 30, 2022	196	—	2,664	20,951	23,811
Net book value
At June 30, 2022	345	371	153	2,158	3,027
At June 30, 2021	345	371	180	2,313	3,209

Cost
At July 1, 2020	541	371	2,817	20,466	24,195
Additions	—	—	—	1,463	1,463
Foreign exchange movements	—	—	—	20	20
At June 30, 2021	541	371	2,817	21,949	25,678
Accumulated amortization and impairment
At July 1, 2020	196	—	2,566	18,652	21,414
Amortization charge for the year	—	—	71	984	1,055
At June 30, 2021	196	—	2,637	19,636	22,469
Net book value
At June 30, 2021	345	371	180	2,313	3,209
At June 30, 2020	345	371	251	1,814	2,781

5.1.

Net book value of software licenses held under financing is $0.1 million as of June 30, 2022 (June 30, 2021: $0.5 million).

5.2.

Estimated amortization expense for the next three years is projected to be:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
2023	1,200	800	400
2024	800	500	—
2025	300	—	—

During the year ended June 30, 2022, no impairment (June 30, 2021: nil, June 30, 2020: $0.8 million) was recognized in other operating costs.

PROPERTY AND EQUIPMENT

12 Months Ended

Jun. 30, 2022

PROPERTY AND EQUIPMENT.

PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT


		Furniture,			Assets
	Leasehold	fixture and	Computer		under
	Improvements	equipment	Equipment	Vehicles	Construction	Total

Cost
At July 1, 2021	22,155	21,239	53,730	578	1,092	98,794
Additions	8,618	4,012	12,295	—	1,355	26,280
Transfer from CWIP	962	101	—	29	(1,092)	—
Transfer from right of use asset	354	—	—	50	—	404
Foreign exchange movements	(413)	(928)	(778)	—	—	(2,119)
Disposal	—	—	(245)	(92)	—	(337)
At June 30, 2022	31,676	24,424	65,002	565	1,355	123,022

Accumulated depreciation
At July 1, 2021	14,728	10,385	42,499	354	—	67,966
Charge for the year	4,010	3,487	8,822	79	—	16,398
Disposal	—	—	(245)	(84)	—	(329)
At June 30, 2022	18,738	13,872	51,076	349	—	84,035

Net book value
At June 30, 2022	12,938	10,552	13,926	216	1,355	38,987
At June 30, 2021	7,427	10,854	11,231	224	1,092	30,828

Cost
At July 1, 2020	16,016	12,010	41,805	333	741	70,905
Additions	4,775	4,448	10,287	298	1,092	20,900
Transfer from CWIP	248	440	53	—	(741)	—
Transfer from right of use asset	1,123	4,434	1,629	—	—	7,186
Foreign exchange movements	(7)	(83)	30	(11)	—	(71)
Disposal	—	(10)	(74)	(42)	—	(126)
At June 30, 2021	22,155	21,239	53,730	578	1,092	98,794

Accumulated depreciation
At July 1, 2020	12,236	8,099	36,892	333	—	57,560
Charge for the year	2,492	2,296	5,681	53	—	10,522
Disposal	—	(10)	(74)	(32)	—	(116)
At June 30, 2021	14,728	10,385	42,499	354	—	67,966

Net book value
At June 30, 2021	7,427	10,854	11,231	224	1,092	30,828
At June 30, 2020	3,780	3,911	4,913	—	741	13,345

No impairment of property, plant and equipment was recorded in the years ending June 30, 2022, 2021 and 2020.

6.1. Right of use assets comprise of:


			Furniture,
	Facility	Leasehold	fixture and	Computer
	Leases	Improvements	equipment	Equipment	Vehicles	Total
	(US$’000)
Right-of-use assets
Balance at July 1, 2021	74,748	439	—	432	256	75,875
Additions	23,470	—	—	—	452	23,922
Disposal - net of depreciation	(441)	—	—	—	—	(441)
Transferred to owned	—	(354)	—	—	(50)	(404)
Foreign exchange movements	(4,843)	—	—	—	(28)	(4,871)
Depreciation charge for the year	(15,967)	(60)	—	(236)	(176)	(16,439)
Balance at June 30, 2022	76,967	25	—	196	454	77,642

Balance at July 1, 2020	61,276	1,507	5,085	2,961	414	71,243
Additions	29,388	576	177	109	—	30,250
Disposal - net of depreciation	(3,207)	—	—	(349)	(8)	(3,564)
Transferred to owned	—	(1,123)	(4,434)	(1,629)	—	(7,186)
Foreign exchange movements	1,220	79	254	180	19	1,752
Depreciation charge for the year	(13,929)	(600)	(1,082)	(840)	(169)	(16,620)
Balance at June 30, 2021	74,748	439	—	432	256	75,875

6.2. Lease liabilities:


	June 30,	June 30,
	2022	2021
	(US$’000)
Lease liabilities included in statement of financial position as of	89,709	83,999
Current	13,705	12,121
Non Current	76,004	71,878

6.3. Description of lease activities:

The Group leases buildings for its offices, equipment and vehicles. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Leases are typically made for a fixed period of 3-7 years and may include renewal options, which provide operational flexibility and when recognizing right-of-use assets and lease liabilities, the Group includes certain renewal options where the Group is reasonably assured to exercise the renewal option. The operating leases recognized have reasonably assured lease terms ranging from 2 to 12 years. The Group allocates the consideration in the contract of lease related to the building to the lease and non-lease components based on their relative stand-alone prices.

6.4. Other lease disclosures:

A maturity analysis of lease liability is shown in Note 22.3. Interest expense on lease liabilities is $7.4 million (June 30, 2021: $7.3 million). The expense incurred relating to short-term leases, not included in the measurement of lease liabilities, is $0.2 million (June 30, 2021: $0.2 million) and no other variable lease payments were incurred during the fiscal year ended June 30, 2022. Lease payments total $13.4 million and $17.5 million for the year ended June 30, 2022 and June 30, 2021 respectively.

The Group recognized 117 (June 30, 2021: 91) leases related to right of use assets. During the year ended June 30, 2022, there were 46 new leases (June 30, 2021: 13) and 20 (June 30, 2021: 16) disposal of leases.

6.5. Security Interest on property and equipment

The net book value of property and equipment at June 30, 2022 and 2021 includes $19.9 million and $11.8 million, respectively, of assets that are pledged as security for borrowings.

INVESTMENT IN JOINT VENTURE

12 Months Ended

Jun. 30, 2022

INVESTMENT IN JOINT VENTURE.

INVESTMENT IN JOINT VENTURE

7. INVESTMENT IN JOINT VENTURE

On January 1, 2016, one of the subsidiaries of the Group (“the Subsidiary”) made a 47.5% investment in a Joint Venture Lake Ball LLC, doing business as Clear Connect, with Innovative Business Solutions (‘IBS’) with a purpose to procure and sell commercial leads for the Subsidiary’s customers. The country of incorporation and principle place of business of Lake Ball LLC is the United States of America. The investment is accounted for under the equity method of accounting. As of June 30, 2022, the market value of the investment amounts to $0.4 million (June 30, 2021: $0.3 million, June 30, 2020: $0.3 million). The details of the investment are as follows:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Opening balance	258	331	227
Dividend received during the year	(1,027)	(650)	(430)
Share of profit for the year	1,151	577	534
Ending balance	382	258	331

Share of profit for the year ended June 30, 2022, 2021 and 2020 of $1.2 million, $0.6 million and $0.5 million, respectively, is included in the other operating costs in statement of profit or loss and comprehensive income.

Summarized financial information of equity accounted Joint Venture from the financial statements of Lake Ball LLC is as follows:


	For the Year Ended
	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)

Revenue	6,455	4,342	3,152
Profit after tax	1,792	1,215	1,124
Other comprehensive income	—	—	—
Total comprehensive income	1,792	1,215	1,124

OTHER NON-CURRENT ASSETS

12 Months Ended

Jun. 30, 2022

OTHER NON-CURRENT ASSETS.

OTHER NON-CURRENT ASSETS

8. OTHER NON-CURRENT ASSETS


		June 30,	June 30,
		2022	2021
	(US$’000)
Deposits		3,716	3,715
Prepayments		144	633
Other		730	891
		4,590	5,239

TRADE AND OTHER RECEIVABLES

12 Months Ended

Jun. 30, 2022

TRADE AND OTHER RECEIVABLES

TRADE AND OTHER RECEIVABLES

9. TRADE AND OTHER RECEIVABLES


		June 30,	June 30,
	Note	2022	2021
	(US$’000)
Trade receivables
Trade receivables - gross		76,708	69,715
Less: allowance for credit losses	9.2	(1,290)	(2,301)
Trade receivables - net		75,418	67,414
Less: receivables attributable to related parties, net		(95)	(725)
Trade receivables - net closing balance		75,323	66,689

Other receivables
Prepayments	9.1	7,135	5,281
Advance Tax		2,025	4,233
VAT/Sales Tax receivables		4,365	2,947
Other receivables		3,742	1,223
Deposits		840	731
		18,107	14,415
		93,430	81,104

9.1. These include prepayments for call center optimization services from one of our affiliates - Afiniti Internations Holdings Limited.

9.2. Allowance for credit losses


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening balance	2,301	1,877
Foreign exchange movements	(250)	133
Loss allowance recognized during the year	(761)	291
Trade receivables written off against allowance	—	—
Closing balance	1,290	2,301

CASH AND CASH EQUIVALENTS

12 Months Ended

Jun. 30, 2022

CASH AND CASH EQUIVALENTS.

CASH AND CASH EQUIVALENTS

10. CASH AND CASH EQUIVALENTS


	June 30,	June 30,
	2022	2021
	(US$’000)
Balances with banks in:
− current accounts	46,675	55,258
− deposit accounts (with a maturity of 3 months or less at inception)	2,131	2,559
	48,806	57,817
Cash in hand	25	25
	48,831	57,842

DEFERRED REVENUE

12 Months Ended

Jun. 30, 2022

DEFERRED REVENUE.

DEFERRED REVENUE

11. DEFERRED REVENUE


	June 30,	June 30,
	2022	2021
	(US$’000)

Deferred revenue	12,593	7,087
Less: current portion of deferred revenue	(8,600)	(4,077)
	3,993	3,010

SHARE CAPITAL AND OTHER RESERVES

12 Months Ended

Jun. 30, 2022

SHARE CAPITAL AND OTHER RESERVES.

SHARE CAPITAL AND OTHER RESERVES

12. SHARE CAPITAL AND OTHER RESERVES

12.1. Share capital as of June 30, 2022

The Company is authorized to issue up to 108,057,967 common shares at a par value of $0.0001 per share.

On August 7, 2020, the Company’s common shares began trading on the Nasdaq Global Market under the ticker symbol “IBEX” at $19 per share.

As of June 30, 2022, there were 18,246,391 common shares issued and outstanding.

12.2 Share Capital as of June 30, 2021

The Company is authorized to issue up to 108,057,967 common shares at a par value of $0.0001 per share.

On August 7, 2020, the Company’s common shares began trading on the Nasdaq Global Market under the ticker symbol “IBEX” at $19 per share. Of the 4,761,905 common shares offered, 3,571,429 were offered by the Company and 1,190,476 were offered by TRGI, our principal shareholder. The net offering proceeds to the Company, before expenses, and after deducting underwriting discounts and commissions were approximately $63.1 million. $1.6 million of the net proceeds from our initial public offering was used to pay offering related expenses. The Company did not receive any proceeds from the sale of shares by TRGI.

On the date of the Company’s initial public offering, the Series A, Series B, Series C preferred shares and the Class B common shares were automatically converted into 14,119,384 common shares as follows:

●	Series A preferred shares converted to Series C on a 1:1 basis

●	Series B preferred shares converted to Series C on a 1:1 basis

●	Series C preferred shares (including those existing as a result of the above conversions) then converted to Class A common shares at 1.158 to 1 based on a pre-determined formula.

●	Class B common shares converted to Class A common shares on a 1:1 basis.

●	Class B and Class A common shares were combined into one class of common shares as of the initial public offering date (“Common Shares”).

As of June 30, 2021, there were 18,399,063 common shares issued and outstanding.

12.3. The additional paid in capital as of June 30, 2022 and June 30, 2021 is $154.8 million and $158.2 million respectively.

Additional paid in capital decreased due primarily due to the purchase of treasury shares ($3.4 million paid in the year ended June 30, 2022 and no purchases of treasury shares during the fiscal year ended June 30, 2021).

12.4. Other Reserves

The nature and purpose of other reserves within equity is described below:

Reorganization reserve

Reorganization reserve consists of differences between the combined net asset values of subsidiaries from their separate financial statements and recognized share capital.

Share option plans

Weighted average cost of options / awards kept under the share option plans that pertain to the Group’s various subsidiaries.

Foreign currency translation reserve

Gain / losses arising on retranslating the net assets of overseas operations into presentation currency.

Actuarial gain on defined benefit scheme

Actuarial gain or losses represents adjustments to actuarial assumptions used to value defined benefit pension scheme obligations.

Accumulated deficit

The accumulated deficit decreased from $110.7 million per end of June 30, 2021 to $87.7 million as of June 30, 2022. The decrease is due to the net income of the year ended June 30, 2022 amounting to $23.0 million.

BORROWINGS

12 Months Ended

Jun. 30, 2022

BORROWINGS

BORROWINGS

13. BORROWINGS


		June 30,	June 30,
	Note	2022	2021
		(US$’000)
Long-term other borrowings	13.1	3,825	6,205
Line of credit	13.2	11,202	22,312
		15,027	28,517
Less: Current portion of;
− long-term other borrowings	13.1	(3,487)	(4,404)
− line of credit	13.2	(11,202)	(22,312)
Less: Current portion of borrowings		(14,689)	(26,716)
Non-current portion of borrowings		338	1,801

13.1. Long-term other borrowings


		June 30,	June 30,
	Note	2022	2021
		(US$’000)
Financial Institutions
IBM Credit LLC	13.1.1	—	180
Hewlett-Packard Financial Services Co.	13.1.1	155	511
IPFS Corporation	13.1.2	1,696	1,008
First Global Bank Limited Demand loan	13.1.3	1,626	3,149
JS Bank Limited	13.1.4	348	1,357
		3,825	6,205
Less: Current portion of long-term other borrowings		(3,487)	(4,404)
Non-current portion of long term other borrowings		338	1,801

13.1.1. The Group has financed the purchase of various property and equipment and software during the fiscal year 2022 and 2021 with IBM, HP and FGB. As of June 30, 2022 and 2021, the Group has financed $1.0 million and $2.7 million, respectively, of assets at interest rates ranging from 5.4% to 9.76% per annum.

13.1.2. The Group has financed its insurance policies with the IPFS Corporation with an interest rate ranging from 4.6% to 5% per annum.

13.1.3. In January 2018, the Group’s subsidiary IBEX Global Jamaica Limited entered into a $1.4 million non-revolving demand loan with First Global Bank Limited. The loan bears interest at a fixed rate of 7.0% per annum for the term of the loan, has a maturity date of January 2023, and is required to be repaid in 54 equal monthly installments (commencing six months after the drawdown date). The loan is guaranteed by IBEX Global Limited and secured by substantially all the assets of IBEX Global Jamaica Limited. The debenture under which IBEX Global Jamaica Limited granted security over its assets contains limitations on liens, the incurrence of debt and the sale of assets. As of June 30, 2022, the balance of the loan was $0.2 million (June 30, 2021: $0.5 million).

In November 2018, the Group’s subsidiary IBEX Global Jamaica Limited entered into a $1.2 million non-revolving demand loan with First Global Bank Limited. The loan bears a variable interest at 6-month LIBOR plus a margin of 5.26%, subject to a floor of 7.0% per annum, for the term of the loan. The loan is to be paid in 60 equal monthly installments, following initial disbursement in January 2019, triggering a bullet payment after 36 months in January 2022, with an option to renew for an additional 24 months. In January, 2022, the option

to renew was exercised and the remaining balance of the loan of $0.5 million extended to mature in January 2024, at a variable rate of 6% per annum. The loan is guaranteed by IBEX Global Limited and secured by substantially all the assets of IBEX Global Jamaica Limited. The debenture under which IBEX Global Jamaica Limited granted security over its assets contains limitations on liens, the incurrence of debt and the sale of assets. As of June 30, 2022, the balance of the loan was $0.4 million (June 30, 2021: $0.7 million).

In October 2019, the Group’s subsidiary, IBEX Global Jamaica Limited, entered into a $0.8 million non- revolving demand loan with First Global Bank Limited. The loan bears a fixed interest rate of 7%. The loan is to be paid in 36 equal monthly installments. The loan is guaranteed by IBEX Global Limited and secured by substantially all the assets of IBEX Global Jamaica Limited. The debenture under which IBEX Global Jamaica Limited granted security over its assets contains limitations on liens, the incurrence of debt and the sale of assets plus the assignment of peril insurance for the replacement value over the charged assets. As of June 30, 2022, the balance of the loan was $0.1 million (June 30, 2021: $0.4 million).

In March 2020, the Group’s subsidiary, IBEX Global Jamaica Limited, entered into a $0.6 million non-revolving demand loan and a $2.0 million non-revolving demand loan with First Global Bank Limited. Each loan bears interest at a fixed rate of 7.0% per annum for the term of the loan. Each loan is to be paid in 36 equal monthly installments, commencing 30 days after the first disbursement of loan funds. The loan is guaranteed by IBEX Global Limited and secured by substantially all of the assets of IBEX Global Jamaica Limited. The debenture under which IBEX Global Jamaica Limited granted security over its assets contains limitations on liens, the incurrence of debt and the sale of assets. As of June 30, 2022, the balance of the $0.6 million non-revolving demand loan is $0.2 million (June 30, 2021: $0.4 million). As of June 30, 2022, the balance of the $2 million non-revolving demand loan was $0.7 million (June 30, 2021: $1.2 million).

13.1.4. In May 2020, the Group’s subsidiary, IBEX Global Solutions (Pvt) Limited entered into a loan agreement with JS Bank Limited for a loan of $1.0 million (PKR165 million) under a government initiated wage and salary loan fund. The loan funds were received in July 2020. The loan bears 3% interest per annum with a two year term. Repayment of the loan commenced in January 2021, with monthly payments of principal and interest thereafter. The loan is guaranteed by the Group’s subsidiaries of Virtual World (Private) Limited and Ibex Global Bermuda Ltd. and is secured by the current and fixed assets of IBEX Global Solutions (Private) Limited, plus the receivables of IBEX Global Bermuda Ltd. As of June 30, 2022, the balance of the loan was $0.2 million (June 30, 2021: $0.8 million).

In May 2020, the Group’s subsidiary, Virtual World (Pvt) Limited entered into a loan agreement with JS Bank Limited for a loan of $0.8 million (PKR 120 million) under a government initiated wage and salary loan fund. The loan funds were received in July 2020. The loan bears 3% interest per annum with a two year term. Repayment of the loan commenced in January 2021, with monthly payments of principal and interest thereafter. The loan is guaranteed by the Group’s subsidiaries of IBEX Global Solutions (Pvt) Ltd. and IBEX Global Bermuda Ltd and is secured by the current and fixed assets, plus the assignment of certain receivables of Virtual World (Pvt) Limited. As of June 30, 2022, the balance of the loan was $0.1 million (June 30, 2021: $0.6 million).

13.2. Line of credit


		June 30,	June 30,
	Note	2022	2021
	(US$’000)
Financial Institutions
PNC Bank, N.A.	13.2.1	11,202	22,312
		11,202	22,312

13.2.1. In November 2013, the Group’s subsidiary, Ibex Global Solutions, Inc. (formerly known as TRG Customer Solutions, Inc.), entered into a three-year $35.0 million revolving credit facility (as amended, the “PNC Credit Facility”) with PNC Bank, N.A. (“PNC”). In June 2015, the maximum revolving advance amount under the PNC Credit Facility was increased to $40.0 million, with an additional $10.0 million of incremental availability (subject to PNC’s approval and satisfaction of conditions precedent) and the maturity date was extended to May 2020. In December 2018, the PNC Credit Facility maximum revolving advance amount was increased to $45.0 million. In May 2019, the PNC Credit Facility was amended to include the following: the maximum revolving advance amount was increased to $50.0 million, with an additional $10.0 million of availability (in $5.0 million increments) subject to satisfaction of conditions precedent, and the maturity date was extended to May 2023. In March 2021, the PNC Credit Facility was amended to join Digital Globe Services, LLC, TelSatOnline, LLC and 7 Degrees, LLC as borrowers, with the maximum revolving advance amount increased to $60 million. In September 2021, the PNC Credit Facility was amended to join iSky, LLC as a borrower. In June 2022, the PNC Credit Facility was amended to increase the maximum revolving advance amount to $80 million, with the ability to request increases, up to a maximum revolving advance amount of $95 million (contingent upon lender approval), change the reference rate used from LIBOR to Term SOFR and extend the maturity date to May 2026. Borrowings under the PNC Credit Facility bear interest at SOFR plus a margin of 1.75% and/or negative 0.5% of the PNC Commercial Lending Rate for domestic loans. The PNC Credit Facility is guaranteed by IBEX Global Limited and secured by substantially all the assets of Ibex Global Solutions, Inc., Digital Globe Services, LLC, TelSatOnline, LLC, 7 Degrees, LLC and iSky, LLC. The line of credit balance as of June 30, 2022 is $11.2 million (June 30, 2021: $22.3 million), as presented in Note 13.2.

13.2.2. In July 2011, a subsidiary of the Group, iSky, Inc., entered into a purchasing agreement (the “Seacoast Receivables Financing Agreement”) with the predecessor to Seacoast National Bank (“Seacoast”). Pursuant to the Seacoast Receivables Financing Agreement, Seacoast provides payment to iSky, Inc. for up to $1.5 million of accounts receivable owed to iSky, Inc. All payments from Seacoast to iSky, Inc. are subject to a discount of 1.0% for receivables outstanding 30 days or less and an additional 0.5% for each additional 15 days that such receivable is outstanding. Under the Seacoast Receivables Financing Agreement, Seacoast may also advance an amount up to 85% of iSky, Inc.’s receivables to iSky, Inc. at a rate of LIBOR plus 7.0%.

The Seacoast Receivables Financing Agreement requires iSky, Inc. to sell $0.2 million of receivables per month to Seacoast, subject to a penalty based on the discount fee if such minimum is not met. The Seacoast Receivables Financing Agreement is automatically renewed for successive 12-month periods unless terminated in accordance with its terms. The average discount during the fiscal year ended June 30, 2021 was approximately 1.8% of net sales. On June 16, 2021, the Company terminated the Receivables Financing Agreement.

13.3. In June 2015, the Group’s subsidiary, Ibex Global Solutions, Inc., entered into a supplier agreement with Citibank, N.A. (the “Citibank Receivables Financing Agreement”). Pursuant to the Citibank Receivables Financing Agreement, Citibank provides payment to Ibex Global Solutions, Inc. for accounts receivable owed to Ibex Global Solutions, Inc. from one of our largest clients and its various subsidiaries and affiliates located in the United States. All payments from Citibank to Ibex Global Solutions, Inc. are subject to a discount charge.

The discount rate used to calculate the discount charge is the product of (i) the SOFR rate for the period most closely corresponding to the number of days in the period starting from and including the date the proceeds are remitted by Citibank to Ibex Global Solutions, Inc. (the “Discount Acceptance Period”) plus 1.40% per annum and (ii) the Discount Acceptance Period divided by 360. The discount charge during the fiscal year ended June 30, 2022 and 2021 averaged approximately 0.17% and 0.17% of net sales, respectively.

13.4. Changes in liabilities arising from financing activities:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Balance of debt, July 1,	112,516	105,970	118,253
Changes from operating cash flows	3,894	(827)	(3,379)
Changes from financing cash flows, net	(29,906)	(26,018)	(33,746)
New assets	24,072	31,790	24,295
Foreign exchange movement	(5,840)	1,601	547
Balance of debt, June 30,	104,736	112,516	105,970

OTHER NON-CURRENT LIABILITIES

12 Months Ended

Jun. 30, 2022

OTHER NON-CURRENT LIABILITIES.

OTHER NON-CURRENT LIABILITIES

14. OTHER NON-CURRENT LIABILITIES


		June 30,	June 30,
	Note	2022	2021
		(US$’000)
Defined benefit scheme	14.1	830	950
Warrant liability	28	4,847	7,784
Phantom stock plan	19.2	667	514
Other	14.2	802	1,890
		7,146	11,138

14.1. Defined benefit scheme

Two of the Group subsidiaries (“the Subsidiaries”) operate an unfunded defined benefit plan for qualifying employees. Under this plan, the employees are entitled to one half month’s salary for every year of service, with six months or more of service considered as one year. One half month’s salary has been defined to include the following:

●	15 days salary based on the latest salary rate,

●	cash equivalent to 5 days service incentive leave, and,

●	one - twelfth of the 13th month’s pay.

An employee is entitled to retirement benefits only upon attainment of a retirement age of 60 years and completion of at least five years of previously credited service. No other post-retirement benefits are provided to these employees. The most recent actuarial valuations of the present value of the defined benefit obligation were carried out on June 30, 2022. The present value of the defined benefit obligation, and the related current service cost and past service cost, were measured using the projected unit credit method.

The principal assumptions used for the purposes of the actuarial valuations are as follows:


	June 30,		June 30,
	2022		2021
	%		%
Discount rates	6.85	%	4.87	%
Expected rate of salary increase	3.00	%	3.00	%

Amounts recognized in the consolidated statement of profit or loss and other comprehensive income in respect of defined benefit scheme are as follows:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Current service cost	238	209	100
Interest on obligation	40	19	21
Total	278	228	121

The amount included in the statement of financial position in other non-current liabilities arising from defined benefit obligations is as follows:


	June 30,	June 30,
	2022	2021
	(US$’000)
Present value of unfunded defined benefit obligation	830	950
Net liability arising from defined benefit obligation	830	950

The movement in the present value of the defined benefit obligation in the current year is as follows:


	June 30,	June 30,
	2022	2021
	(US$’000)
Present value of defined benefit obligation at the beginning of the year	950	677
Foreign exchange movements	(111)	19
Current service cost	238	209
Interest cost	40	19
Actuarial gains	(287)	26
Present value of defined benefit obligation at the end of the year	830	950

The subsidiaries are yet to contribute to the plan asset as of June 30, 2022.

14.2. This includes deferred social security payment amounting to $nil as of June 30, 2022 (June 30, 2021: $1.1 million). For more detail refer to Note 24.

TRADE AND OTHER PAYABLES

12 Months Ended

Jun. 30, 2022

TRADE AND OTHER PAYABLES.

TRADE AND OTHER PAYABLES

15. TRADE AND OTHER PAYABLES


		June 30,	June 30,
	Note	2022	2021
		(US$’000)
Trade creditors		7,754	5,976
Accrued expenses		11,388	11,784
Accrued compensation	15.1	32,057	29,678
Cash flow hedge	15.2	992	316
Warrant liability	28	6,464	5,837
Others		1,158	1,272
		59,813	54,863

15.1. Accrued compensation includes payroll and related costs as of June 30, 2022.

15.2. This represents the fair value of the interest rate and foreign currency hedges. For more information, refer to note 22.1.1.

CONTINGENCIES AND COMMITMENTS

12 Months Ended

Jun. 30, 2022

CONTINGENCIES AND COMMITMENTS.

CONTINGENCIES AND COMMITMENTS

16. CONTINGENCIES AND COMMITMENTS

16.1. Contingencies

The Group is subject to claims and lawsuits filed in the ordinary course of business. Although management does not believe that any such proceedings other than those noted below will have material adverse effect going forward, no assurances to that effect can be given based on the uncertainty of litigation and demands of third parties. The Group only records a liability for pending litigation and claims where losses are both probable and can be reasonably estimated.

16.1.1. The significant claims or legal proceedings against subsidiaries of the Group are as follows:

A case was filed in November 2014 in the US District Court of Tennessee as a collective action under the US Fair Labor Standards Act (FLSA) and Tennessee law, alleging that plaintiffs were forced to work without being paid for the “off the clock” time. In December 2014, a similar FLSA collection action case was filed against IBEX Global Solutions in the US District Court for the District of Columbia. In February 2015, the two cases were consolidated in Tennessee (the “Consolidated Action”) and plaintiffs agreed to submit all claims to binding arbitration before the American Arbitration Association. Presently, there are approximately 3,500 individuals who have opted into the FLSA class action claims, and there are pending wage and hour class action claims under various state laws (“Rule 23 Claims”) involving approximately 21,000 potential class action claimants. In April 2019, the parties engaged in a Mediation. On June 14, 2019, the parties entered into a Settlement Agreement, which was approved by the arbitrator on June 19, 2019. Pursuant to the Settlement Agreement, all claimants under both the FLSA and the Rule 23 Claims were required to fill out and send a claim form to the Third-Party Administrator within the claim period ending on October 15, 2019 in order to receive funds under the settlement. Subsequent to June 30, 2019, Ibex funded $3.4 million toward the settlement fund provided under the Settlement Agreement. This amount covered 100% of the possible claims under the FLSA, as well as plaintiffs’ attorney fees, administration costs and service awards. These amounts exclude any amounts for the Rule 23 Claims. Any funds not claimed pursuant to the FLSA portion of the settlement will revert to Ibex. Pursuant to the Settlement Agreement, there is $2.2 million allocated to the settlement of claims for the Rule 23 class members. The exact amount of recovery with respect to the Rule 23 Claims depends upon the claim forms properly and timely returned to the Third-Party Administrator. The claim period closed on October 15,

2019 and as of that date, claim forms properly and timely returned for the Rule 23 Class Members accounted for $1.2 million of the $2.2 million allocated funds for the Rule 23 class. On November 7, 2019, the parties appeared before the Arbitrator and the Arbitrator approved the Final Order. On November 20, 2019, payment was made by the Company to the Qualified Settlement Fund in the amount of $1.2 million for payment in full of all Rule 23 Claims and any Company tax obligations for payments to such individuals, and the matter is effectively closed. On July 15, 2020 this matter was dismissed with prejudice pursuant to an Agreed Stipulation of Dismissal with Prejudice.

A case filed in District of Columbia Superior Court against IBEX Global Solutions by a former employee of IBEX’s Philippines affiliate, IBEX Global Philippines, alleging that he was harassed, discriminated against and ultimately terminated due to his religion and personal appearance in violation of the D.C. Human Rights Act, and seeking unspecified damages on November 29, 2016. In the fourth quarter of fiscal year 2021, Plaintiff and Company agreed to a total settlement of $0.9 million, payment was made in full settlement of the case, and the case was dismissed with prejudice.

In March 2022, a class action lawsuit was filed against the Company in the United States District Court for the District of Columbia alleging plaintiffs’ personal information was exposed as a result of the ransomware incident. In July 2022, the parties agreed to a preliminary settlement, which is subject to Court approval and will be fully covered by available insurance.

The Company is subject to other routine legal proceedings, claims, and litigation in the ordinary course of its business. Defending lawsuits requires significant management attention and financial resources and the outcome of any litigation, including the matters described above, is inherently uncertain. The Company does not, however, currently expect that the costs to resolve these routine matters will have a material adverse effect on its consolidated financial position, results of operations, or cash flows.

16.2. Commitments

16.2.1. IBEX Global Solutions, Inc. has an annual telecommunication service commitment with two of its carriers. The carrier agreement was signed in September 2020 for a three-year term with a minimum annual commitment for $0.450 million and it is expected to be renewed in September 2023. A second carrier agreement signed in August of 2021 for a three-year term with a minimum commitment of $0.03 million per month.

16.2.2. IBEX Global Solutions, Inc. is also subject to early termination provisions in certain telecommunications contracts, which if enforced by the telecommunications providers, would subject IBEX Global Solutions to the obligation to pay early termination fees. To date, these early termination provisions have not been triggered by IBEX Global Solutions and in most cases would be equal to the unfulfilled terms of the contract.

16.2.3. On November 27, 2017, PNC Bank, NA issued an irrevocable standby letter of credit for the amount of $0.4 million in favor of the Group’s subsidiary TRG Customer Solutions, Inc. to the benefit of Digicel (Jamaica) Limited to guarantee the payment of base rent for the property rented by the Group’s subsidiary IBEX Global Jamaica Limited. With effect from March 1, 2018, the amount of the irrevocable standby letter of credit was increased to $0.5 million. The letter of credit was renewed on December 13, 2019 for one year which expired on December 13, 2020. The letter of credit was not further renewed.

FINANCE EXPENSES

12 Months Ended

Jun. 30, 2022

FINANCE EXPENSES.

FINANCE EXPENSES

17. FINANCE EXPENSES


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Interest on borrowings	1,121	1,756	2,453
Factoring Fees	60	73	186
Finance charges - right of use assets	7,421	7,078	6,457
Bank charges	195	127	332
Total	8,797	9,034	9,428

INCOME TAXES

12 Months Ended

Jun. 30, 2022

INCOME TAXES.

INCOME TAXES

18. INCOME TAXES

The major components of income tax (benefit) / expense are:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Current tax:
Current year	3,324	3,876	1,850
Change in estimates related to prior year	(102)	80	201
	3,222	3,956	2,051
Deferred tax:
Origination and reversal of temporary differences	(825)	(2,062)	1,923
Changes in tax rates	(52)	24	270
Recognition of previously unrecognized tax losses	(4,332)	—	(1,907)
Recognition of previously unrecognized net deductible temporary differences	—	—	(22)
	(5,209)	(2,038)	264

Income tax (benefit) / expense charged to profit or loss	(1,987)	1,918	2,315

Income tax recognized in other comprehensive income related to hedging	(218)	—	—

Total income tax (benefit) / expense	(2,205)	1,918	2,315

The Group’s U.S. tax provision includes Ibex Global Solutions, Inc. and Ibex Receivable Solutions, Inc., which file separate income tax returns in the U.S. The Group’s tax provision also includes various foreign subsidiaries based in the UK, EU, Canada, Jamaica, Nicaragua, Pakistan, Senegal, Honduras, and the Philippines. These entities file income tax returns in their respective jurisdictions. No income tax provision has been calculated for Bermuda-based companies as there is no corporate income tax in Bermuda.

On February 28, 2021, Digital Globe Services, Inc. and TelSatOnline, Inc. were converted into single-member U.S. LLCs and placed under Ibex Global Solutions, Inc. Similarly, iSky, Inc. was converted into a single-member U.S. LLC on July 31, 2021 and placed under Ibex Global Solutions, Inc. Ibex Global Solutions, Inc. includes the results of these entities on its U.S. tax return.

Deferred tax expense for the year ended June 30, 2020 includes a non-recurring benefit of $0.6 million related to change in revenue and related costs recognition under IFRS15 - Revenue from contracts with customers.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as net operating losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using the enacted tax rates that will apply to taxable income in the periods the deferred tax item is expected to be settled or realized. The tax effects of the Group’s temporary differences and carry forwards are as follows:

Tax effect of deductible / (taxable) temporary differences


	June 30,	June 30,
	2022	2021
	(US$’000)
Deductible temporary differences:
− Provisions and write-offs against accounts receivable	74	30
− Unpaid accrued expenses / compensation	1,319	2,446
− Tax credits carry-forward	2,454	967
− Net operating losses	5,732	834
− Property and equipment	264	385
− Lease liability (right of use assets)	7,406	5,692
− Net unrealized loss on hedging	218	—
	17,467	10,354
Taxable temporary differences:
− Property and equipment	(506)	(133)
− Right of use assets	(6,297)	(5,097)
− Intangible assets	(1,199)	(958)
	(8,002)	(6,188)
Net deferred tax assets	9,465	4,166

	June 30,	June 30,
	2022	2021
	(US$’000)
Deferred tax asset	9,465	4,252
Deferred tax liability	-	(86)
	9,465	4,166

Movement in deferred tax assets:


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening deferred tax assets	4,166	2,106
Deferred tax benefit for the year	5,209	2,038
Foreign exchange and other rate differences	(128)	22
Deferred tax recognized in other comprehensive income	218	—
Net deferred tax assets	9,465	4,166

A deferred tax asset has not been recognized for the following gross amounts:


	June 30,	June 30,
	2022	2021
	(US$’000)
Unused tax losses	11,553	26,575
Deductible temporary differences	—	81
Unused tax losses and deductible differences - unrecognized	11,553	26,656

Deferred tax asset arising on the above amounts has not been recognized in these consolidated financial statements, as the management is of the prudent view that it is not probable that sufficient taxable profit will be available in the foreseeable future against which these temporary differences and unused tax losses can be utilized. Other factors considered include cumulative losses in recent years and non-existence of future reversals of existing taxable temporary differences. The unused tax losses will begin to expire in 2023.

At June 30, 2022, the Group’s US federal and state net operating loss carry forward for income tax purposes are $18.9 million (June 30, 2021: $15.9. million) and $32.2 million (June 30, 2021: $36.7 million) respectively which will begin to expire in 2029. At June 30, 2022, the Group’s U.S. federal tax credits carry forward for income tax purposes are $2.5 million (June 30, 2021: $1.0 million), which will begin to expire in 2039. The Group’s Canadian subsidiary has net operating loss carry forward of $2.2 million (June 30, 2021: $2.3 million), which will begin to expire in 2028. The Group’s UK and European subsidiaries have net operating loss carry forward of $6.5 million (June 30, 2021: $4.3 million), which can be carried forward indefinitely. The Group’s Luxembourg subsidiary has net operating loss carry forwards of $1.1 million (June 30, 2021: $1.2 million) which will begin to expire in 2037. The Group’s subsidiary in Senegal has net operating loss carry forward of $1.8 million (June 30, 2021: $2.7 million), which will begin to expire in 2023. These amounts are based on the income tax returns filed for the year ended June 30, 2021 and estimated amounts for the year ended June 30, 2022.

The Group is subject to income tax in several jurisdictions and significant judgment is required in determining the provision for income taxes. During the ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain. As a result, the Group recognizes tax liabilities based on estimates of whether additional taxes and interest will be due. There are no material uncertain tax treatments that would require adjustment to the income tax expense.

There are no income tax consequences attached to the payment of dividends by the Group to its shareholders.

Reconciliation of effective tax rate

Below is a reconciliation of tax expense and the accounting profit. As the Group’s key income generating operations are based in the US, United States federal income tax rate of 21% is used for the purpose of this reconciliation:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Profit for the year	22,990	2,847	7,770
Income tax (benefit) / expense	(1,987)	1,918	2,315
Net profit before income tax	21,003	4,765	10,085


	June 30,		June 30,	June 30,		June 30,	June 30,		June 30,
	2022		2022	2021		2021	2020		2020
	(%)		(US$’000)	(%)		(US$’000)	(%)		(US$’000)

Income tax expense using the applicable tax rate	21.0	%	4,411	21.0	%	1,001	21.0	%	2,118
State taxes (net of federal tax effect)	3.0	%	637	7.3	%	349	12.9	%	1,303
Effect of tax and exchange rates in foreign jurisdictions	(0.2)	%	(52)	3.7	%	175	(7.7)	%	(776)
Foreign subsidiaries taxed at lower rate or tax exempt	(8.3)	%	(1,734)	22.3	%	1,064	1.9	%	191
Non-deductible expenses / exempt income	1.4	%	284	5.4	%	256	3.3	%	328
Employment and other tax credits	(7.1)	%	(1,487)	(20.3)	%	(967)	—	%	—
Prior year provision / other items	(0.6)	%	(117)	(3.8)	%	(180)	(3.2)	%	(320)
Unrecognized losses utilized during the year	(0.6)	%	(136)	—	%	—	10.1	%	1,018
Change in unrecognized temporary differences	(18.1)	%	(3,793)	4.6	%	220	(15.3)	%	(1,547)
	(9.5)	%	(1,987)	40.2	%	1,918	23.0	%	2,315

SHARE BASED COMPENSATION PLANS

12 Months Ended

Jun. 30, 2022

SHARE BASED COMPENSATION PLANS

SHARE BASED COMPENSATION PLANS

19. SHARE BASED COMPENSATION PLANS

The share-based payments expenses in the consolidated statements of profit or loss and other comprehensive income consist of the following:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Cash settled:
Phantom Stock Plan	33	851	(31)

Equity settled:
2018 Restricted Stock Awards (RSA)	6	45	95
2020 Long term Incentive Plan	1,812	3,625	295
	1,818	3,670	390

Total	1,851	4,521	359

19.1. Phantom Stock Plans

In February of 2018, IBEX Global Solutions (Philippines) Inc., IBEX Global ROHQ, and in March of 2018, IBEX Global Jamaica Limited, each adopted a phantom stock plan (“Phantom Stock Plan”), which provide for grants of “phantom stock options” to certain of their executive officers and employees. 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 Holding Company at the time of exercise and the exercise price of the option per share.

On February 1, 2021, we terminated the Phantom Stock Plan for IBEX Global ROHQ. All IBEX Global ROHQ plan participants and phantom stock options were transferred to the IBEX Global Solutions (Philippines) Inc. Phantom Stock Plan. The Phantom Stock Plans for IBEX Global Solutions (Philippines) Inc. and IBEX Global Jamaica Limited were amended and restated as of February 16, 2021. The maximum number of phantom stock options available for issuance under the IBEX Global Solutions (Philippines) Inc. and IBEX Global Jamaica Limited plans are 400,000 and 200,000, respectively. These Phantom Stock Plans shall continue until the earlier of June 30, 2025 or termination by the Ibex Limited board of directors pursuant to the terms of the plan.

On February 2021, 167,935 options were issued under phantom stock plan with an exercise price of $20.86, 5,335 of the total options vested immediately and the remaining options vest 25% initially and the remainder vesting equally on monthly basis over 36 months. No options were issued under the plan in fiscal year 2022.

The Company has elected to use the Black-Scholes valuation to calculate the fair value of Phantom stock options. The Black-Scholes valuation model requires the use of certain estimates and assumptions that affect the fair value of options in the consolidated statement of profit or loss. These include the price per share, expected term, expected volatility, expected dividends and the risk-free interest rate.

Fair value of common shares

The fair value of the common shares is $16.87 per share as of June 30, 2022.

Expected term

The expected term of options granted is 0.65 - 1.75 years. In estimating the expected term, the Subsidiaries assume all options will be exercised at the contractual term of the option.

Volatility

Management used an average volatility of comparable listed companies of 32.64% - 37.19%.

Expected dividends

The Holding Company does not expect to pay any dividends in the future.

Risk-free rate

The risk free rate is the continuously compounded United States nominal treasury rate corresponding to the term of the option. The risk free rate used for computation of fair value of options as of June 30, 2022 was 3.01% - 3.03%.

The fair value of options issued ranges from $4.68 - $10.20 per option as of June 30, 2022. A roll forward of the phantom options are as follows:


	2022		2021
	Weighted	Share	Weighted	Share
	average	Options	average	Options
	exercise price	(Number)	exercise price	(Number)
	(US$)		(US$)
Options outstanding as of beginning of the period	18.01	210,740	6.81	54,575
Options granted during the period	—	—	20.86	167,935
Options exercised during the period	6.81	(16,743)	6.81	(11,770)
Options forfeited / cancelled / expired during the period	20.86	(6,324)	—	—
Options outstanding as of end of the period	18.91	187,673	18.01	210,740

Options exercisable as of end of the period	17.92	124,353	12.90	95,660

The weighted average fair value of the Phantom stock options as of June 30, 2022 is $5.59 (June 30, 2021: $13.84). For the year ended June 30, 2022, the Subsidiaries recognized an expense of share-based payment amounting to $0.03 million (June 30, 2021: $0.9 million). There were no Phantom Stock options with intrinsic value as of June 30, 2022. The liability under the Phantom stock option plan as of June 30, 2022 was $0.7 million and $0.3 million included as other non-current liabilities in Note 14 and payables in Note 15 respectively.

As of June 30, 2022, the unrecognized compensation expense associated with the phantom stock plan is $0.3 million and it will be recognized over 21 months from the end of June 30, 2022.

19.2. 2018 Restricted Stock Award Program

On December 21, 2018, our board of directors and shareholders approved and adopted the Holding Company’s 2018 Restricted Share Plan (the “2018 RSA Plan”). The following description of the 2018 RSA Plan is as follows.

Purpose

We believe that the 2018 RSA Plan will enable us to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to our employees, consultants and directors, and to promote the success of our business.

Types of Awards

The 2018 RSA Plan provides for grants of Restricted Share awards entitling recipients to acquire Class B Common Shares (“Restricted Shares”), subject to the right of the Holding Company to repurchase all or part of such Restricted Shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by our board of directors in the applicable Restricted Share award are not satisfied prior to the end of the applicable restriction period or periods established by our board of directors for such Restricted Share award.

Eligibility

Selected employees, consultants or directors of our company or our affiliates will be eligible to receive non-statutory Restricted Share awards under the 2018 RSA Plan, but only employees of our company will be eligible to receive incentive stock awards.

Administration

The 2018 RSA Plan is administered by our board of directors, a committee (or subcommittee) appointed by our board of directors, or any combination, as determined by our board of directors. Subject to the provisions of the 2018 RSA Plan and, in the case of a committee (or subcommittee), the specific duties delegated by our board of directors to such committee (or subcommittee), the administrator has the authority to, among other things, determine the per share fair market value of our common shares, select the individuals to whom awards may be granted; determine the number of shares covered by each award, approve the form(s) of agreement(s) and other related documents used under the 2018 RSA Plan, determine the terms and conditions of awards, amend outstanding awards, establish the terms of and implement an option exchange program, and construe and interpret the terms of the 2018 RSA Plan and any agreements related to awards granted under the 2018 RSA Plan. Our board of directors may also delegate authority to one of more of our officers to make awards under the 2018 RSA Plan.

Available Shares

Subject to adjustment, Restricted Share awards may be granted under the Plan for up to 2,559,323.13 Class B common shares, $0.000111650536 par value per Class B common share, of the Group (the “Class B Common Shares”). Restricted Shares issued under the 2018 RSA Plan may consist in whole or in part of authorized but unissued shares or treasury shares.

This limit may be adjusted to reflect certain changes in our capitalization, such as share splits, reverse share splits, share dividends, recapitalizations, rights offerings, reorganizations, mergers, consolidations, spin-offs, split-ups and similar transactions.

If any Restricted Share award expires or is forfeited in whole or in part (including as the result of Class B Common Shares subject to such Restricted Share award being repurchased by the Company pursuant to a contractual repurchase right or being forfeited back to the Company), the unused Class B Common Shares covered by such Restricted Share award shall again be available for the grant of Restricted Shares. Additionally, any Class B Common Shares delivered to the Company by a participant to either used to purchase additional Restricted Shares or to satisfy the applicable tax withholding obligations with respect to Restricted Shares (including shares retained from the Restricted Share award creating the tax obligation) shall be added back to the number of shares available for the future grant of Restricted Shares.

Restricted Shares

The board of directors may grant Restricted Share awards entitling recipients to acquire Class B Common Shares (“Restricted Shares”), subject to the right of the Company to repurchase all or part of such Restricted Shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by the board of directors in the applicable Restricted Share award are not satisfied prior to the end of the applicable restriction period or periods established by the board of directors for such Restricted Share award.

The board of directors shall determine the terms and conditions of a Restricted Share award, including the conditions for vesting and repurchase (or forfeiture) and the issue price, if any.

Stockholder Rights

Except as otherwise provided in the applicable award agreement, and with respect to an award of Restricted Shares, a participant will have no rights as a shareholder with respect to common shares covered by any award until the participant becomes the record holder of such common shares.

Amendment and Termination

Our board of directors may, at any time, amend or terminate the 2018 RSA Plan but no amendment or termination may be made that would materially and adversely affect the rights of any participant under any outstanding award, without his or her consent.

Transferability

Subject to certain limited exceptions, awards granted under the 2018 RSA Plan may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution.

Effective Date; Term

The 2018 RSA Plan in December 2018 granted 2,373,374 shares, of which 721,596 shares vested on December 31, 2018. The remaining awards will vest between 13 months to 4 years, depending on the individual.

Fair value of common shares

The fair market value per share at the time of issuance was $0.61 which was derived from using the Monte Carlo simulation.

Expected term

The expected term of shares granted is 3.84 years.

Volatility

Management used an average volatility of comparable companies of 26.0%.

Expected dividends

The Holding Company does not expect to pay any dividends in the future.

Risk-free rate

The risk free rate is the continuously compounded United States nominal treasury rate corresponding to the term of the grant. The risk free rate used for computation of fair value of shares as of June 30, 2020 was 2.87%.

The Company has bifurcated the 2018 RSA Plan into three categories based on the vesting conditions and vesting period of the Restricted Share awards:

●	2018 RSA Plan – Non-Executive Management

●	2018 RSA Plan Non-Performance – Executive Leadership Team

●	2018 RSA Plan Performance – Executive Leadership Team

2018 RSA Plan – Non-Executive Management

A summary of the Restricted Share awards (“RSAs”) outstanding and exercisable as of June 30, 2022 and June 30, 2021 are as follows:


	2022		2021
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	638,385	0.61	650,193
RSAs granted during the period	—	—	0.61	280
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	0.61	(3,013)	0.61	(12,088)
RSAs outstanding as of end of the period	0.61	635,372	0.61	638,385

RSAs vested as of end of the period	0.61	626,966	0.61	587,756

The 928,124 Restricted Share awards were granted under the 2018 RSA Plan in December 31, 2018 that vest over time, with an initial portion vesting at December 31, 2018 and the remainder vesting equally on a monthly basis for a period of 13 months to four years.

As of June 30, 2022 and June 30, 2021, 626,966, or 98.7% and 587,756, or 92.1% respectively, of the outstanding Restricted Share awards have vested. The Company recognized the amount of stock compensation expense for Restricted Share awards initially vesting on the first vesting date. The total expense recognized during the fiscal year ended June 30, 2022 and June 30, 2021 was $0.01 million and $0.03 million, respectively.

As of June 30, 2022, the compensation expense associated with the Restricted Share Plan award is fully recognized.

2018 RSA Plan Non-Performance – Executive Leadership Team

Members of executive management are primarily based in the United States. All U.S.-based members of executive management have filed an 83(b) election, which provides that such equity be taxed by the Internal Revenue Service (the “IRS”) at the time of grant, rather than at the time of vesting and shall result in such Restricted Share awards being taxed as capital gains rather than ordinary income. All U.S. members of executive leadership team have purchased the Restricted Shares through a promissory note, which is subject to 3% interest (the “Notes”). The Notes are considered to be a related party loan (see Related Party Transactions, Note 23). The Notes are a 50% / 50% split between recourse and non–recourse, with the non-recourse portion being secured by those Restricted Shares issued to the borrower. The Group did not record the expense of the both recourse and non–recourse components.

A summary of the Restricted Share awards outstanding and exercisable as of June 30, 2022 and June 30, 2021 are as follows:


	2022		2021
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	918,719	0.61	918,719
RSAs granted during the period	—	—	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	—	—	—	—
RSAs outstanding as of end of the period	0.61	918,719	0.61	918,719

RSAs vested as of end of the period	0.61	918,719	0.61	844,452

The 970,893 Restricted Share awards were granted under the 2018 RSA Plan in December 31, 2018 that vest over time, with an initial portion vesting at December 31, 2018 and the remainder vesting equally on a monthly basis for a period of 24 months to four years.

As of June 30, 2022 and June 30, 2021, 918,719, or 100.0% and 844,452, or 91.9%, respectively, of the outstanding Restricted Share awards have vested.

2018 RSA Plan Performance – Executive Leadership Team

Performance-based Restricted Share awards vest based on certain performance criteria, which are:

●	the consummation of a successful initial public offering on or before December 31, 2019: The restricted shares allotted to this criteria are 170,680.

●	an initial public offering of the Group’s class A common shares, and thereafter, the average price per share traded in such public market equals or exceeds $17.42 per share at any point in time: The restricted shares allotted to this criteria are 103,264.

●	meeting specific revenue and EBITDA targets during the period from January 1, 2019 to December 31, 2019: The restricted shares allotted to this criteria are 10,000.

A summary of the Restricted Share awards outstanding and exercisable as of June 30, 2022 and June 30, 2021 are as follows:


	2022		2021
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	272,748	0.61	272,748
RSAs granted during the period	—	—	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	—	—	—	—
RSAs outstanding as of end of the period	0.61	272,748	0.61	272,748

RSAs vested as of end of the period	0.61	245,862	0.61	207,961

As of June 30, 2022 and June 30, 2021, 245,862, or 90.1% and 207,961, or 76.3%, respectively, of the outstanding Restricted Share awards have vested.

On December 23, 2019, the Company entered into amendments to the restricted share awards with certain members of management and directors (the ‘2019 RSA Amendments’) covering an aggregate of 103,264 restricted common shares. The terms of the original restricted share awards provided for vesting upon an initial public offering on a public exchange in the United States by December 31, 2019. The 2019 RSA Amendments provide for an extension of the date by which such initial public offering must occur to June 30, 2020. There would be no change in the fair value per share due to the modification. These RSA agreements were further amended on June 30, 2020 as referred below:

On January 28, 2020, the board of directors of the Company deemed certain performance triggers to be achieved with respect to restricted share awards with certain members of management and directors (the ‘2020 RSA Amendments’) covering an aggregate of 67,176 restricted common shares. The terms of the valuation trigger associated with such RSAs were not modified. The fair value of certain of the common shares subject to the RSAs were not changed due to the modification.

On May 20, 2020, the Board of Directors approved extraordinary payment to the members of executive management, in the amount set forth for each individual, to be paid directly to the Company in satisfaction in full of the Promissory Note entered into by each individual at the time of issuance of Restricted Stock Award Plan, including a tax gross up to cover any tax implications that may result from repayment of such loan on behalf of the individual which shall be withheld and paid directly to the IRS and that such Promissory Note shall be effectively cancelled upon payment.

On June 30, 2020, the Company entered into further amendments to the restricted share awards with certain members of management and directors (the ‘2020 RSA Amendments’) covering an aggregate of 78,264 restricted common shares. The terms of the original restricted share awards (amended by 2019 RSA amendments) provided for vesting upon an initial public offering on a public exchange in the United States by June 30, 2020. The 2020 RSA Amendments provide for an extension of the date by which such initial public offering must occur to December 31, 2020. The fair value per share were not changed due to this modification.

The Group will not issue further shares under this 2018 RSA plan and the remaining shares of 707,535 were transferred to the 2020 Long Term Incentive Plan (Note 19.4) on May 20, 2020.

19.3. Long term incentive plan

On May 20, 2020, our board of directors and shareholders approved and adopted the Holding Company’s 2020 Long Term Incentive Plan (the “2020 LTIP”). Effective as of January 14, 2022, the LTIP was amended and restated to provide for an increase of an additional 700,000 shares available under the LTIP. The following description of the 2020 LTIP is as follows.

Purpose

We believe that the 2020 LTIP will enable us to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to our employees, consultants and directors, and to promote the success of our business.

Types of Awards

The 2020 LTIP provides for grants of stock options and stock awards.

Eligibility

Selected employees, consultants or directors of our company or our subsidiaries will be eligible to receive non-statutory Restricted Share awards under the 2020 LTIP, but only employees of our company will be eligible to receive incentive stock awards.

Administration

The 2020 LTIP is administered by our administrator appointed by our board of directors, or any combination, as determined by our board of directors. Subject to the provisions of the 2020 LTIP and, in the case of a committee (or subcommittee), the specific duties delegated by our board of directors to such committee (or subcommittee), the administrator has the authority to, among other things, determine the per share fair market value of our common shares, select the individuals to whom awards may be granted; determine the number of shares covered by each award, approve the form(s) of agreement(s) and other related documents used under the 2020 LTIP, determine the terms and conditions of awards, amend outstanding awards, establish the terms of and implement an option exchange program, and construe and interpret the terms of the 2020 LTIP and any agreements related to awards granted under the 2020 LTIP. Our board of directors may also delegate authority to one of more of our officers to make awards under the 2020 LTIP.

Available Shares

The number of common shares that we may issue with respect to awards granted under the 2020 LTIP will not exceed an aggregate of 1,987,326.13. This limit may be adjusted to reflect certain changes in our capitalization, such as share splits, reverse share splits, share dividends, recapitalizations, rights offerings, reorganizations, mergers, consolidations, spin-offs, split-ups and similar transactions. If an award expires or becomes unexercisable for any reason without having been exercised in full, or is surrendered pursuant to an option exchange program, the common shares subject to such award will be available for further awards under the 2020 LTIP. Common shares used to pay the exercise or purchase price of an award or tax obligations will be treated as not issued and will continue to be available under the 2020 LTIP. Common shares issued under the 2020 LTIP and later forfeited to us due to the failure to vest or repurchased by us at the original purchase price paid to us for such common shares will again be available for future grant under the 2020 LTIP.

Stock Options

The 2020 LTIP allows the administrator to grant incentive stock options, as that term is defined in section 422 of the Internal Revenue Code, or non-statutory stock options. Only our employees may receive incentive stock option awards. The term of each option may not exceed ten years. No incentive stock option or non-qualified stock option may have an exercise price less than the fair market value of a common share at the time of grant. Options will be exercisable at such time or times and subject to such terms and conditions as determined by the administrator at grant and the exercisability of such options may be accelerated by the administrator.

Restricted Stock

The 2020 LTIP allows the administrator to grant restricted stock awards. Once the restricted stock is purchased or received, the participant will have the rights equivalent to those of a holder of our common shares, and will be a record holder when his or her purchase and the issuance of the common shares is entered upon the records of our duly authorized transfer agent. Unless otherwise determined by the administrator, we will have a right to repurchase any grants of restricted stock upon a recipient’s voluntary or involuntary termination of employment for any reason at a price equal to the original purchase price of such restricted stock.

Stockholder Rights

Amendment and Termination

Our board of directors may, at any time, amend or terminate the 2020 LTIP but no amendment or termination may be made that would materially and adversely affect the rights of any participant under any outstanding award, without his or her consent.

Transferability

Subject to certain limited exceptions, awards granted under the 2020 LTIP may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution.

Fair value of common shares

The grant date fair values of common shares issued under the 2020 LTIP range from $4.37 to $20.86 per share as of June 30, 2022.

Expected term

The expected term of options granted is 5.3 – 10.0 years.

Volatility

Management used an average volatility of comparable listed companies of 29.4% - 47.7%.

Expected dividends

The Holding Company does not expect to pay any dividends in the future.

Risk-free rate

During the year ended June 30, 2022,178,800 options, 568,344 RSUs, 60,000 PSUs, and 12,500 RSAs were granted, 200,453 options were forfeited and 2,716 were exercised. The summary of awards granted during the year is as follows:

●

12,500 RSA’s were granted in August 2021 with an initial vesting of 25% after one year and the remaining to vest equally over 36 months.

●

35,000 options were granted in August 2021 with an exercise price of $20.11, vesting of 25% after one year and the remaining to vest equally over 36 months.

●

60,000 PSU’s were granted in August 2021 with vesting based upon satisfaction of market-based performance triggers.

●

60,000 options were granted in August 2021 with an exercise price of $20.11, vesting based upon satisfaction of market-based performance triggers.

●

13,000 options were granted in November 2021, 5,000 with an exercise price of $18.32 and 8,000 with an exercise price of $17.60, all with an initial vesting of 25% after one year and the remaining to vest equally over 36 months.

●

45,800 options were granted in December 2021 with an exercise price of $13.25 and initial vesting of 25% after one year and the remaining to vest equally over 36 months.

●

10,000 options were granted in December 2021 with an exercise price of $15.18 and initial vesting of 25% after one year and the remaining to vest equally over 36 months.

●

15,000 options were granted in February 2022 with an exercise price of $13.87 with vesting based upon satisfaction of performance obligations.

●

568,344 RSU’s were granted in April 2022 with vesting based upon satisfaction of performance triggers.

During the year ended June 30, 2021, 510,143 options and 15,000 RSAs were granted, 16,215 options were forfeited and 1,442 were exercised. The summary of awards granted during the year is as follows:

●

341,843 options were issued in August 2020 at an exercise price of $19.0 with initial vesting of 50% at the grant date and the remaining vesting equally every month over 24 months.

●

97,000 options at an exercise price of $19.85 and 10,000 RSAs were issued in December 2020. 77,000 options with an initial vesting of 25% after one year and the remaining vesting equally on monthly basis over 36 months and the vesting of the remaining 20,000 options is based on satisfaction of the performance obligation. Out of 10,000 RSAs, 5,000 RSAs have an initial vesting of 13% and the remaining to be vested over 24 months. The remaining 5,000 RSAs vested on January 2021.

●

20,000 options were granted in January 2021 with an exercise price of $18.82, vesting of which is based on satisfaction of the performance obligation.

●

23,500 options were granted in February 2021 with an exercise price of $20.86 with an initial vesting of 25% after one year and remaining vesting equally on monthly basis over 36 months.

●

5,000 RSAs were granted in January 2021 and vest equally on a quarterly basis from April 2021.

●

27,800 options were granted in June 2021 with an exercise price of $18.72, vesting will be over 36

months.

A summary of the options / awards outstanding and exercisable as of June 30, 2022, and June 30, 2021 are as follows:


	2022		2021
		Share		Share
	Weighted	Options /	Weighted	Options /
	average	awards	average	awards
	exercise price	(Number)	exercise price	(Number)
	(US$)		(US$)
Options / awards outstanding as of beginning of the year	16.70	845,918	12.75	338,432
Options / awards granted during the year	17.39	819,644	19.23	525,143
Options / awards exercised during the year	12.75	(2,716)	19.00	(1,442)
Options / awards forfeited / cancelled / expired during the year	19.28	(200,453)	15.96	(16,215)
Options / awards outstanding as of end of the year	16.42	1,462,393	16.70	845,918

Options / awards exercisable as of end of the year	16.83	578,127	16.97	366,865

The total expense recognized during the fiscal year ended June 30, 2022 and June 30, 2021 was $1.8 million and $3.6 million respectively.

As of June 30, 2022, the unrecognized compensation expense associated with the Long term Incentive Plan was $9.5 million, and it will be recognized over the period of 66 months from the end of June 30, 2022.

The Group recognized $1.9 million and $4.5 million of stock based compensation expense (including Phantom Stock Plan and 2018 RSA Plan and long-term incentive plan) for the year ended June 30, 2022 and 2021 respectively.

EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

20. EARNINGS PER SHARE

Basic earnings / (loss) per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is based on the weighted average number of ordinary shares outstanding plus the effect of dilutive non-vested restricted stock, stock options and warrants, using the treasury method, as applicable.

When a loss is reported, potentially issuable common shares are excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive.

As of June 30, 2022, there were 468,669 shares related to the 2018 RSA plan, 2020 LTIP and the Amazon warrant that were considered dilutive using the treasury method, and 17,657 shares related to such plans that were considered anti-dilutive, using the treasury method.

As of June 30, 2021, there were 735,475 shares related to the 2018 RSA plan, 2020 LTIP and the Amazon warrant that were considered dilutive using the treasury method, and 3,250 shares related to such plans that were considered anti-dilutive, using the treasury method.

As of June 30, 2020, there were 1,176,370 vested out of the 1,841,660 awards that have vested. The unvested shares of 665,291 have a small dilutive impact to the Earnings Per Share. On June 30, 2020, the Group issued LTIP (see Note 19), there were 40,500 options vested out of 338,432 options issued. The remaining unvested options have an anti-dilutive impact. Additionally, 288,748 warrant shares have vested and are a component of the basic per share calculation. The remaining unvested warrant shares have an anti – dilutive impact.

The Series A, B and C Preferred Convertible Shares do not meet the definition of ordinary shares under IAS 33 because of their preferred participation rights, under which Series B and C are entitled to receive total dividends of $91.8 million subsequent to Series A receiving the first $9.5 million in dividends before dividends may be paid on the Class A and B Common Shares. The Company paid the dividend on July 24, 2020 of $4 million to TRGI, the holder of Series A preferred share. Accordingly the company’s Class A and Class B common shares are deemed to be the only ordinary shares for purposes of calculating earnings per share.

As the income for the year ended June 30, 2020 did not exceed the value of the preferred participation rights of the Series A, B and C Preferred Convertible Shares, the income/loss attributable to the ordinary shareholders of the company has been assessed as $0.

For the year ended June 30, 2020, a voluntary conversion of the Series A, B and C preferred convertible shares would be antidilutive, because all shares of the company would become ordinary shares and the income for the period would be attributable to all such shares.


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Total - Income attributable to shareholders of the Holding Company	22,990	2,847	7,770

Total – Income attributable to ordinary shareholders of the company	22,990	2,847	—

	(Shares)
Weighted average number of ordinary shares - basic	18,232,399	17,649,446	1,176,370

	(US$)
Total - Basic earnings per share	1.26	0.16	—

	(Shares)
Weighted average number of ordinary shares - diluted	18,701,068	18,384,921	12,936,962

	(US$)
Total - Diluted earnings per share	1.23	0.15	—

DIVIDEND DISTRIBUTION

12 Months Ended

Jun. 30, 2022

DIVIDEND DISTRIBUTION

DIVIDEND DISTRIBUTION

21. DIVIDEND DISTRIBUTION

On July 21, 2020, our board of directors approved a one-time dividend of $4.0 million to our shareholders reflecting a portion of the cash generation from the business during fiscal year 2020. The dividend was paid on July 24, 2020 to TRGI, the holder of our Series A preferred share, which is entitled to a dividend preference that expires upon conversion of the Series A preferred share to common shares upon the completion of IPO.

One of the subsidiaries of IBEX Limited declared and paid a dividend of $0.1 million during the fiscal year ended June 30, 2020.

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES

12 Months Ended

Jun. 30, 2022

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES..

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES

22. FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES

Financial risk management

The Group’s activities expose it to a variety of financial risks: market risk (including interest rate risk and currency risk), credit risk and liquidity risk. The Board of Directors has the overall responsibility for the establishment and oversight of the Group’s risk management framework.

The Group’s risk management policies are established to identify and analyze the risks faced by the Group, to set appropriate risk limits and to monitor risks and adherence to limits. Risk management policies are reviewed regularly to reflect changes in the market conditions and the Group’s activities. The Group’s Board of Directors oversees how management monitors compliance with the Group’s risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Group.

A summary of the financial instruments held by category is provided below:


	June 30,	June 30,
	2022	2021
	(US$’000)
Financial assets - amortized cost
Deposits	4,556	4,446
Trade receivables	75,323	66,689
Other receivables	3,561	1,223
Due from related parties	108	1,755
Cash and cash equivalents	48,831	57,842
	132,379	131,955

Financial assets - fair value through other comprehensive income
Cash flow hedge (Note 9)	181	-

Financial liabilities - amortized cost
Lease liabilities	89,709	83,999
Borrowings	15,027	28,517
Trade and other payables	23,265	22,695
Due to related parties	2,595	4,275
	130,596	139,486
Financial liabilities – fair value through profit and loss
Warrant liabilities (Note 28)	11,311	13,621
	11,311	13,621

Financial liabilities – fair value through other comprehensive income
Cash flow hedge (Note 15)	992	316
	992	316

Movement of Warrant liabilities as of June 30, 2022 and 2021:


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening balance	13,621	3,889
Fair Value Adjustment	(3,926)	7,786
Warrants vested during the year	1,616	1,946
Closing balance	11,311	13,621

Fair value hierarchy

The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

●

Level 1: quoted (unadjusted) prices in active markets for identical assets and liabilities;

●

Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly; and

●

Level 3: techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

The fair value of the Group’s financial liability is measured at fair value on a recurring basis. The following table gives information about how the fair value of this financial liability is determined.


		June 30,	June 30,
		2022	2021
		(US$’000)
Financial liabilities – fair value through profit and loss	Fair value hierarchy

Warrant liabilities (Note 28)	Level 3	11,311	13,621

Financial liabilities – fair value through other comprehensive income	Fair value hierarchy
Cash flow hedge (Note 15)	Level 2	992	316
		12,303	13,937

Amounts reclassified from other comprehensive income to profit and loss related to cash flow hedges were $0.3 million and nil for the years ended June 30, 2022 and 2021, respectively. There were no transfers between the different hierarchies levels in the years ended June 30, 2022 and 2021.

22.1. Market risk

22.1.1 Interest rate risk

The Group’s exposure to market risk for changes in interest rates relates primarily to the cash and bank balances and credit facilities. Borrowings under the PNC Credit Facility bear interest at SOFR plus 1.75% and/or negative 0.5% of the PNC Commercial Lending Rate for domestic loans. The Group attempts to manage

its exposure to interest rate changes to mitigate the impact to its profitability and has used an interest rate swaps to achieve this goal.

In March 2020, Ibex Global Solutions, Inc., entered into a $15 million notional floating to fixed interest-rate swap to hedge the interest rate risk on the first $15 million of its balance outstanding under the PNC Credit Facility. At the time the hedge was executed, all critical terms matched between the hedge and the hedged item. Hedge effectiveness was assessed prospectively at inception, and on an ongoing basis by confirming that the critical terms continue to match. For the year ended June 30, 2022, due to a temporary decline in the line of credit balance, the Company recorded $0.05 million of hedge ineffectiveness which is included in finance expenses. No hedge ineffectiveness was identified for the years ended June 30, 2021 and 2020. The fair value of the interest rate swap was $0.2 million asset as of June 30, 2022 and is included in trade and other receivables. As of June 30, 2021, the fair value of the interest rate hedge was $0.3 million liability and is included in trade and other payables.

Effective June 1, 2022, the hedged debt index was changed from LIBOR to SOFR and the hedge documentation was updated to reflect this change on the effective date. The swap was not amended. As a result of Phase II practical expedients, the original hedge designation remains intact, and the Company will continue to apply a qualitative effectiveness assessment method.

The fair value of the interest rate swap as of June 30, 2022 and June 30, 2021 is as follows:


		USD	Floating rate	Fixed rate		Fair value
Maturity Date		Notional	receivable	payable		(liability) / asset
	(US$’000)
Interest rate swap
March 26, 2023	$	15,000	1M USD-SOFR	1.43%
Fair value as of June 30, 2021					$	(316)
Fair value as of June 30, 2022					$	170

Based on the Group’s debt position as of June 30, 2022 and taking into account the impact of the interest-rate swap referred above; a 1% change in interest rates would impact the finance costs by $0.5 million (June 30, 2021: $0.9 million).

22.1.2 Foreign currency exchange risk

The Group serves many of our U.S.-based clients using contact center capacity in various countries such as Philippines, Pakistan, Nicaragua, Honduras, and Jamaica. Although contracts with these clients are typically priced in U.S. dollars, a substantial portion of related costs is denominated in the local currency of the country where services are provided, resulting in foreign currency exposure which could have an impact on our results of operations. Our primary foreign currency exposures are in Philippine Peso, Jamaican Dollar and Pakistan Rupee; to a lesser extent, we have exposures in Euro, Pound Sterling, CFA Franc (XOF), Nicaraguan Cordoba, Canadian Dollar, and Honduran Lempira. There can be no assurance that we can take actions to mitigate such exposure in the future, and if taken, that such actions will be successful or that future changes in currency exchange rates will not have a material adverse impact on our future operating results. A significant change in the value of the U.S. Dollar against the currency of one or more countries where we operate may have a material adverse effect on our financial condition and results of operations.

Foreign currency exchange risk arises mainly where receivables and payables exist due to transactions entered into in foreign currencies. As such, the Company is exposed to the following foreign currency exchange risks:

●	Transaction foreign currency risk is the exchange risk associated with the time delay between entering into a contract and settling it. Greater time differences exacerbate transaction foreign currency risk, as there is more time for the two exchange rates to fluctuate.

●

Translation foreign currency risk is the risk that the Company’s non-U.S. Dollar assets and liabilities will change in value as a result of exchange rate changes. Monetary assets and liabilities are translated into U.S. Dollars at the applicable exchange rate prevailing at the applicable date. Any adverse valuation moves due to exchange rate changes at such time are charged directly and could impact our financial position and results of operations. For the purposes of preparing the consolidated financial statements, the Group convert subsidiaries’ financial statements as follows:

o

Statements of financial position are translated into U.S. Dollars from local currencies at the period-end exchange rate, shareholders’ equity is translated at historical exchange rates prevailing on the transaction date and income and cash flow statements are translated at average exchange rates for the period.

With all other variables held constant, a 5.0% depreciation in the Philippine Peso against the U.S. dollar would have increased net income after taxation in the fiscal year ended June 30, 2022 by approximately $1.0 million (June 30, 2021: $1.6 million). Conversely, a 5.0% appreciation in the Philippine Peso against the U.S. dollar would have decreased net income after taxation in the fiscal year ended June 30, 2022 by approximately $1.0 million (June 30, 2021: $1.6 million). A 5.0% depreciation in Euro against the U.S. dollar would have decreased net loss after taxation in the fiscal year ended June 30, 2022 by approximately $0.2 million (June 30, 2021: $0.1 million). Conversely, a 5.0% appreciation in the Euro against the U.S. dollar would have increased net loss after taxation in the fiscal year ended June 30, 2022 by approximately $0.2 million (June 30, 2021: $0.1 million). Similarly, a 5.0% depreciation in the Pakistan Rupee against the U.S. dollar would have increased our net income after taxation in the fiscal year ended June 30, 2022 by approximately $0.1 million (June 30, 2021: $0.3 million). Conversely, a 5.0% appreciation in the Pakistan Rupee against the U.S. dollar would have decreased our net income after taxation in the fiscal year ended June 30, 2022 by approximately $0.1 million (June 30, 2021: $0.3 million).

During the year ended June 30, 2022, the Group entered into foreign currency exchange contracts, consisting of offsetting foreign exchange option contracts (“zero-cost collars” or “collars”), to mitigate foreign exchange fluctuations on the Philippine Peso (“PHP”) within a certain range and on a certain percentage of its PHP operating costs. The zero-cost collars were recognized, in accordance with IFRS 9, as financial assets (or liabilities, as applicable) at fair value through other comprehensive income.

As of June 30, 2022, the fair value of the foreign exchange option contracts that were recognized as financial assets and liabilities at fair value through other comprehensive income were as follows:


			Notional			Fair Value
		Hedged	foreign		Notional	assets /
Settlement date		currency	currency rate		amount	(liabilities)
	(US$’000)
Foreign currency option contracts - assets
July 5, 2022 through June 20, 2023		PHP	49.00-54.20	$	21,380	11
Fair value as of June 30, 2022						11
Foreign currency option contracts - liabilities
July 5, 2022 through June 20, 2023		PHP	49.00-54.20	$	21,380	992
Fair value as of June 30, 2022						992

The fair value of the zero-cost collars are included in trade and other payables and other current assets in the statement of financial position, as applicable.

The models used to determine the fair value of the cash flow hedges incorporate various inputs such as foreign exchange spot rates, interest rate curves, and the terms of the contracts. These cash flow hedges are considered Level 2 within the fair value hierarchy.

22.1.3. Hedge accounting

The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges are recognized in other comprehensive income and accumulated under the heading of cash flow hedging reserve, limited to the cumulative change in fair value of the hedged item from inception of the hedge. Ineffectiveness is recognized immediately in finance expenses, as it relates to the interest rate swap, or payroll and related costs, as it relates to the foreign exchange option contracts, in the statements of other comprehensive income. Amounts previously recognized in other comprehensive income and accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss, in the same line as the recognized hedged item. During the year ended June 30, 2022, the Group reclassified a loss of $0.3 million related to its collars in payroll and related costs.

Movement of the cash flow hedge reserve is as follows:


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening balance	316	518
Loss / (gain) arising on changes in fair value of hedging instruments during the period	860	(202)
(Loss) / gain reclassified to profit or loss - hedged item has affected profit or loss	(319)	-
Closing balance	857	316

22.2. Credit risk

Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and causes the other party to incur a financial loss. The Group is exposed to credit risk on its accounts receivable mainly in the communications services, technology, consumer, and industrials sectors. The Group mitigates the risk by diversifying its client base in these sectors.

Financial instruments which potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable, loans and advances and notes receivable. The Group’s cash and cash equivalents are held with US and foreign commercial banks. The balance at times may exceed insured limits.

Credit rating wise breakup of bank balances:


	June 30,	June 30,
	2022	2021
	(US$’000)
A-1+	3,283	2,396
A-1	42,146	—
AA-	694	—
A+	524	45,082
A	—	3,138
A-	—	403
A-3	128	—
B+	943	955
BA3	73	90
BBB+	—	4,635
BBB	1,015	1,118
Non - Rated	25	25
Total	48,831	57,842

The maximum exposure to credit risk is as follows:


	June 30,	June 30,
	2022	2021
	(US$’000)
Financial assets - amortized cost
Deposits	4,556	4,446
Trade receivables	75,323	66,689
Other receivables	3,561	1,223
Due from related parties	108	1,755
Cash and cash equivalents	48,831	57,842
	132,379	131,955

Majority of the Group’s financial assets are represented by trade receivables, due from related parties and cash and cash equivalents which are not materially deteriorated.

The Group’s top three clients based on respective fiscal year revenue are shown below:


	2022
	Revenue			Trade debts gross
	Amount			Amount
	(US$’000)	% of total		(US$’000)	% of total
Client 1	59,570	12	%	9,966	13	%
Client 2	36,814	8	%	5,725	7	%
Client 3	35,827	7	%	4,369	6	%
Subtotal	132,211	27	%	20,060	26	%
Others	361,361	73	%	56,648	74	%
Revenue from external customers	493,572	100	%	76,708	100	%


	2021
	Revenue			Trade debts gross
	Amount			Amount
	(US$’000)	% of total		(US$’000)	% of total
Client 1	55,181	12	%	7,247	10	%
Client 2	51,991	12	%	6,169	9	%
Client 3	48,245	11	%	4,936	7	%
Subtotal	155,417	35	%	18,352	26	%
Others	288,245	65	%	51,363	74	%
Revenue from external customers	443,662	100	%	69,715	100	%


	2020
	Revenue			Trade debts gross
	Amount			Amount
	(US$’000)	% of total		(US$’000)	% of total
Client 1	73,743	18	%	114	0	%
Client 2	64,937	16	%	7,425	13	%
Client 3	38,528	10	%	9,012	16	%
Subtotal	177,208	44	%	16,551	30	%
Others	227,927	56	%	39,311	70	%
Revenue from external customers	405,135	100	%	55,862	100	%

The Group continuously monitors defaults of customers and other counterparties, identified either individually or by group, and incorporate this information into its credit risk controls.

The consolidated entities recognizes a loss allowance for expected credit losses on financial assets which are measured at amortized cost. The measurement of the loss allowance depends upon the assessment at the end of each reporting period as to whether the financial instrument’s credit risk has increased significantly since initial recognition, based on reasonable and supportable information that is available, without undue cost or effort to obtain. Based on the historic trend and expected performance of the customers, the Group believes that the below expected credit loss allowance sufficiently covers the risk of default. Trade receivable balances are reviewed closely for changes in creditworthiness, including those related to COVID-19, are integrated into assessment of credit risk and expected credit losses. Forward-looking information including macroeconomic factors such as GDP, unemployment and inflation rate in the countries where Group operates. Based on the

current knowledge of COVID-19 developments, the Company assumes that there will be no material deterioration on the trade receivable balances.

In measuring expected credit losses, trade receivables are assessed on a collective basis as they possess shared credit risk characteristics. Trade receivables are grouped based on days past due and also according to the geographical location of customers.

On the above basis the expected credit loss for trade receivables as at June 30, 2022 and June 30, 2021 was determined as follows:


	June 30, 2022
	(US$’000)
			Due: 0 to 30		Due: 31 - 60		Due: 61 to 90		Due: 91 - 180		Due: over 180
	Not overdue		days		days		days		days		days		Total
Expected credit loss rate	0	%	0	%	3	%	15	%	31	%	98	%	—
Gross carrying amount	73,524		1,302		238		196		261		1,187		76,708
Lifetime expected credit loss	4		1		7		29		80		1,169		1,290
Individually impaired trade receivables													—
Total allowance for credit losses													1,290


	June 30, 2021
	(US$’000)
			Due: 0 to 30		Due: 31 - 60		Due: 61 to 90		Due: 91 - 180		Due: over 180
	Not overdue		days		days		days		days		days		Total
Expected credit loss rate	0	%	0	%	1	%	17	%	25	%	77	%	—
Gross carrying amount	65,090		1,933		192		190		300		2,010		69,715
Lifetime expected credit loss	4		6		1		33		74		1,545		1,663
Individually impaired trade receivables													638
Total allowance for credit losses													2,301

Below are the details of specific individually credit impaired balances as of June 30, 2022:


	June 30,	June 30,
	2022	2021
	(US$’000)
Credit impaired trade receivables - Gross carrying amount	1,138	2,142
Expected credit loss allowance	(1,124)	(2,124)
	14	18

The Group does not hold any collateral against these assets. Financial assets other than trade debts have no material ECL allowances on those balances as of June 30, 2022 and June 30, 2021.

22.3. Liquidity risk

The Group’s policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities when they become due. To achieve this aim, it seeks to maintain cash balances (or agreed facilities) to meet expected requirements for a period of at least 45 days. The Board receives cash flow projections on a quarterly basis as well as information regarding cash balances and investments. The liquidity risk of each group entity is managed at the entity level. Where facilities of group entities need to be increased, approval must be sought by the

entity’s CFO. Where the amount of the facility is above a certain level, agreement of the Group CFO and the board is needed.

The Group’s cash generated from operations for the year ended June 30, 2022, was $61.1 million (June 30, 2021: $40.6 million).

The following table presents the contractual maturities (liquidity analysis) as of June 30, 2022 and 2021:


	June 30, 2022
	Less than 1
	year	1 - 3 years	4 - 5 years	Total
	(US$’000)
Deposits	840	3,716	—	4,556
Trade receivables	75,323	—	—	75,323
Other receivables	3,561	—	—	3,561
Due from related parties	108	—	—	108
Cash and cash equivalents	48,831	—	—	48,831
Subtotal	128,663	3,716	—	132,379
Lease liability	20,333	35,621	60,428	116,382
Long - term other borrowings	3,587	343	—	3,930
Line of credit	11,202	—	—	11,202
Trade and other payables	24,257	—	—	24,257
Due to related parties	2,595	—	—	2,595
Subtotal	61,974	35,964	60,428	158,366
Net liquidity position	66,689	(32,248)	(60,428)	(25,987)


	June 30, 2021
	Less than 1
	year	1 - 3 years	4 - 5 years	Total
	(US$’000)
Deposits	731	3,715	—	4,446
Trade receivables	66,689	—	—	66,689
Other receivables	1,223	—	—	1,223
Due from related parties	1,755	—	—	1,755
Cash and cash equivalents	57,842	—	—	57,842
Subtotal	128,240	3,715	—	131,955
Lease liability	18,344	32,811	61,730	112,885
Long - term other borrowings	4,626	1,855		6,481
Line of credit	22,312	—	—	22,312
Trade and other payables	23,011	—	—	23,011
Due to related parties	4,275	—	—	4,275
Subtotal	72,568	34,666	61,730	168,964
Net liquidity position	55,672	(30,951)	(61,730)	(37,009)

TRANSACTIONS WITH RELATED PARTIES

12 Months Ended

Jun. 30, 2022

TRANSACTION WITH RELATED PARTIES.

TRANSACTION WITH RELATED PARTIES

23. TRANSACTIONS WITH RELATED PARTIES

Related parties of the Group comprise of related entities, staff retirement funds, directors and key management personnel. A “related entity” is an entity that TRGI has control or significant influence over.

Material related party balances and transactions other than reorganization transaction and those disclosed elsewhere in these consolidated financial statements, are given below:

June 30, 2022

Service

Due from

Due to

Relationship with

delivery

related

Note

related party

revenue

expense

parties

(US$’000)

BPO Solutions, Inc.

23.1

Related entity

—

2,459

Alert Communications, Inc.

23.1

Related entity

—

Afiniti International Holdings Limited

23.1

Related entity

—

124

Vendors with common directors

23.2 & 23.3

Related entity

176

152

IBEX Limited Executive Leadership

23.4

Officers

—

299

171

108

2,595


			June 30, 2021
			Service	Service	Due from	Due to
		Relationship with	delivery	delivery	related	related
	Note	related party	revenue	expense	parties	parties
			(US$’000)
BPO Solutions, Inc.	23.1	Related entity	—	—	—	3,610
Alert Communications, Inc.	23.1	Related entity	113	—	696	—
TRG Marketing Services, Inc.	23.1	Related entity	—	—	19	—
Afiniti International Holdings Limited	23.1	Related entity	56	27	—	168
TRG Holdings, LLC	23.1	Related entity	—	—	—	122
The Resource Group International Limited	23.1	Parent	—	—	163	—
Vendors with common directors	23.2 & 23.3	Related entity	201	405	87	97
3rd Party Client and Internet Services Provider	23.3	Related entity	679	77	638	278
IBEX Limited Executive Leadership	23.4	Officers	—	—	13	—
TRG (Private) Limited	23.1	Related entity	—	—	121	—
Etelequote	23.1	Related entity	115	—	18	—
			1,164	509	1,755	4,275


			June 30, 2020
			Service	Service
		Relationship with	delivery	delivery
	Note	related party	revenue	expense
			(US$’000)
Alert Communications, Inc.	23.1	Related entity	164	—
Afiniti International Holdings Limited	23.1	Related entity	53	48
Vendors with common directors	23.2 & 23.3	Related entity	310	489
3rd Party Client and Internet Services Provider	23.3	Related entity	764	73
Etelequote	23.1	Related entity	34	—
			1,325	610

23.1. Service delivery revenue and expenses are incurred by the Group in the ordinary course of business. These transactions were executed on mutually agreed terms. These represent call center and back office support services provided to subsidiaries of the Group.

23.2. A senior executive within one of our vendors serves on the Board of our Controlling Shareholder. The Group maintains a client relationship between Virtual World and the aforementioned company.

23.3. A senior executive within one of our vendors serves on the Board of our DGS Group. The Group maintains a lease on office space with this Company.

23.4. Receivable from executive leadership represents the purchase of the shares through RSA (See Note 19.3).

CAPITAL RISK MANAGEMENT

12 Months Ended

Jun. 30, 2022

CAPITAL RISK MANAGEMENT.

CAPITAL RISK MANAGEMENT

24. CAPITAL RISK MANAGEMENT

Capital risk management is carried out by the Group’s management. The Group’s board of directors sets capital risk management policies and procedures to which our management is required to adhere. The Group’s management identifies and evaluates Capital risks and enters into agreements and explore avenues to mitigate these risk exposures in accordance with the policies and procedures outlined by the Group’s board of directors.

The Group manages its capital to safeguard that the Group will be able to continue as a going concern. The capital structure of the Group consists of cash at bank and in hand and cash equivalents, borrowings, and preferred shares. In addition the Group’s capital structure includes equity attributed to the holders of equity instruments of the Holding Company, such as capital, reserves and results carried forward, as mentioned in the consolidated statement of changes in equity.

The Group has filed for government assistance in response to the Pandemic in US and Pakistan:

In the US, one subsidiary of the Group has deferred the payment of Social Security (employer portion) from March 2020 - December 2020 amounting to $4.4 million. A payment of $2.6 million and $0.7 million was made in June 2022 and June 2021 respectively. The total amount deferred as of June 30, 2022 was $1.1 million (June 30, 2021: $3.7 million). Repayment amounting to $1.1 million is to be made through financial year 2023.

In Pakistan, the Group (through its subsidiaries) applied for and received loans totaling approximately $1.7 million in July 2020 through programs offered by commercial banks at the directive of the State Bank of Pakistan. These funds are to be used to fund three-months of employee wages and salaries. The funds are to be repaid within two years. Refer to Note 13.1.4.

The Group manages its capital structure and makes the necessary adjustments in the light of changes of economic circumstances, the risk characteristics of underlying assets and the projected cash needs of the current and prospective operational / financing / investment activities. The adequacy of the Group’s capital structure will depend on many factors, including capital expenditures, market developments and any future acquisition.

The Group and its subsidiaries are not subject to any externally imposed capital requirements, other than those imposed by generally applicable company law requirements.

In order to maintain or adjust the capital structure, the Holding Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.

SEGMENT INFORMATION

12 Months Ended

Jun. 30, 2022

SEGMENT INFORMATION [Abstract]

SEGMENT INFORMATION

25. SEGMENT INFORMATION

The Chief Executive Officer (CEO), also the Chief Operating Decision Maker, reviews and analyses monthly / quarterly Group as one operating segment Business Process Outsource (BPO).

25.1. Revenue from contracts with customers

The Group generates approximately 97% of its revenue from clients based in the United States of America.


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Revenue
United States of America	476,813	428,831	391,933
Others	16,759	14,831	13,202
Total	493,572	443,662	405,135

The Group’s revenue disaggregated by pattern of revenue recognition is as follows:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Pattern of Revenue recognition
− Services transferred at a point in time	37,645	40,775	48,486
− Services transferred over time	455,927	402,887	356,649
	493,572	443,662	405,135

The movement in the deferred revenue is as follows:


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening balance	7,087	3,904
Revenue recognized during the year	(5,592)	(5,416)
Revenue deferred during the year	11,098	8,599
Closing balance	12,593	7,087

The following aggregated amounts of deferred revenue from existing contracts that are to be recognized in revenue in the following fiscal years:


	FY2023	FY2024	FY2025	FY2026	FY2027	Total
	(US$’000)
Deferred Revenue expected to be recognized	8,600	3,642	323	26	2	12,593

25.2. Non-current assets by location


	June 30,	June 30,
	2022	2021
	(US$’000)
United States of America	37,420	28,668
Others	99,975	99,993

Total¹	137,395	128,661
¹Excludes deferred tax asset

PAYROLL AND RELATED COSTS

12 Months Ended

Jun. 30, 2022

PAYROLL AND RELATED COSTS

PAYROLL AND RELATED COSTS

26. PAYROLL AND RELATED COSTS

Expenses recognized for employee benefits are analyzed below:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Salaries and other employee costs	289,740	247,926	228,818
Social security and other taxes	51,403	47,874	46,480
Retirement - contribution plan	718	771	823
Pensions - defined benefit scheme	278	228	134
Total payroll and related costs	342,139	296,799	276,255


26.1 Remuneration of Key Management Personnel

The key management personnel includes the directors.
	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Salaries and other employee costs	5,055	5,293	5,524
Share - based payments	847	1,671	214
Total remuneration of key management personnel	5,902	6,964	5,738

OTHER OPERATING COSTS

12 Months Ended

Jun. 30, 2022

OTHER OPERATING COSTS.

OTHER OPERATING COSTS

27. OTHER OPERATING COSTS


		June 30,	June 30,	June 30,
	Note	2022	2021	2020
		(US$’000)
Rent and utilities		10,797	8,462	7,802
Telecommunication		7,378	6,890	6,908
Information technology		10,130	8,331	5,225
Facilities expense		20,101	20,742	16,510
Travel and housing		2,621	1,679	7,972
Local transportation	27.1	8,024	13,768	3,977
Insurance		5,207	4,837	1,516
Legal and professional expenses	27.2	5,609	8,112	6,570
Allowance for expected credit loss		(761)	291	224
Others		5,899	3,753	7,366
Other Operating Costs		75,005	76,865	64,070

27.1.The decrease in local transportation is related to a decrease in COVID-19 costs in the current year.

27.2. This includes non-recurring legal expenses of nil for the year ended June 30, 2022 (June 30, 2021: $0.9 million, June 30, 2020 nil).

WARRANT

12 Months Ended

Jun. 30, 2022

WARRANT

WARRANT

28. WARRANT

On November 13, 2017, and as subsequently amended through December 2020, the Company issued to Amazon.com NV Investment Holdings LLC, a subsidiary of Amazon.com, Inc. (“Amazon”), a 10-year warrant to acquire approximately 1,429,303 of our Series B Preference Shares and approximately 14,437.4049 of our Series C Preference Shares, totalling 1,443,740 shares, representing 10.0% of our equity on a fully diluted and as-converted basis as of the date of issuance of the warrant. 1,674,017 common shares, representing 10.0% of our equity on a fully diluted basis. The warrant is exercisable, either for cash or on a net issuance basis, at an exercise price per share of $11.20.

The Series B and Series C Preference shares of 1,443,740 shares were subsequently converted to 1,674,017 common shares on the date of the Company’s initial public offering (refer to Note 12.1) at an exercise price of $9.42.

The warrant shares vest on the satisfaction of specified milestones tied to Amazon’s purchase of services from the Company during a seven and a half year period ending on June 30, 2024. The vesting is partially accelerated in the event of a reorganization transaction (as defined in the warrant).

Amazon is entitled to customary shelf and piggy-back registration rights with respect to the shares issued upon exercise of the warrant. Amazon may not transfer the warrant except to a wholly-owned subsidiary of Amazon.

At June 30, 2020, the Company estimated the warrant liability using a Monte Carlo simulation. As a result of the Company’s initial public offering in August 2020, variables that previously required a more complex modeling techniques were eliminated and all inputs into the calculation of the warrant liability are now observable in the public markets; therefore, the Company has elected to use the Black-Scholes valuation technique to calculate the warrant liability going forward.

The Black-Scholes valuation model requires the use of certain estimates and assumptions that affect the fair value adjustment recognized in the consolidated statement of profit or loss. These include the price per share, expected term, expected volatility, expected dividends and the risk-free interest rate.

Fair value of common shares

The fair value of the common shares is $16.87 per share as of June 30, 2022.

Expected term

The expected term of options granted is 5.37 years from June 30, 2022, and ending November 12, 2027.

Volatility

Management used an average volatility of comparable listed companies of 33.8% as the Company does not have sufficient experience in the public markets to calculate its own volatility.

Expected dividends

The expected average dividend yield is 0%. The Holding Company does not expect to pay any dividends in the foreseeable future.

Risk-free rate

The risk-free rate is the continuously compounded United States nominal treasury rate corresponding to the remaining term of the warrant. The average risk-free rate was 3.0%.

There were no warrants cancelled or expired as of June 30, 2022 and June 30, 2021. At June 30, 2022, 669,607 warrants were vested and at June 30, 2021, 502,205 warrants were vested based on the agreed upon revenue criteria.

The total fair value of the warrant liability included in other non-current liabilities and trade and other payables was $11.3 million and $13.6 million, as of June 30, 2022 and 2021, respectively.

Warrant asset

The Warrant asset is amortized pro rata over the life of the vesting period of the warrant based on actual and projected revenues. The Company recorded contra revenue of approximately $0.3 million and $0.8 million during the years ended June 30, 2022 and 2021, respectively. The balance of the warrant asset as of June 30, 2022 and 2021 was $1.8 million and $2.1 million, respectively.

Fair value hierarchy

The financial instruments carried at fair value have been categorized under the three levels of the IFRS fair value hierarchy as follows:

●	Level 1 - Instruments valued using quoted prices in active markets are instruments where the fair value can be determined directly from prices which are quoted in active, liquid markets and where the instrument observed in the market is representative

●

Level 2 - Instruments valued with valuation techniques using observable market data are instruments where the fair value can be determined by reference to similar instruments trading in active markets, or where a technique is used to derive the valuation but where all inputs to that technique are observable.

●

Level 3 - Instruments valued using valuation techniques using market data which is not directly observable are instruments where the fair value cannot be determined directly by reference to market observable information, and some other pricing technique must be employed. Instruments classified in this category have an element which is unobservable and which has a significant impact on the fair value.

Given these guidelines, the warrant liability associated with Amazon would be classified as a Level 3 liability.

HOLDING COMPANY INDIRECT SUBSIDIARIES

12 Months Ended

Jun. 30, 2022

HOLDING COMPANY INDIRECT SUBSIDIARIES

HOLDING COMPANY INDIRECT SUBSIDIARIES

29. HOLDING COMPANY INDIRECT SUBSIDIARIES

The following entities are indirect subsidiaries of the Holding Company through IBEX Global Limited:


			Ownership %
Description	Location	Nature of Business	2022		2021
IBEX Global Solutions Limited	England	Holding company	100	%	100	%
Lovercius Consultants Limited	Cyprus	Call center	100	%	100	%
IBEX Global Europe	Luxembourg	Tech support services	100	%	100	%
IBEX Global ROHQ	Philippines	Regional HQ	100	%	100	%
IBEX Global Solutions, Inc. (formerly TRG Customer Solutions, Inc.)	USA	Call center	100	%	100	%
TRG Customer Solutions (Canada), Inc.	Canada	Call center	100	%	100	%
TRG Marketing Solutions Limited	England	Call center	100	%	100	%
Virtual World (Private) Limited	Pakistan	Call center	100	%	100	%
IBEX Philippines, Inc.	Philippines	Call center	100	%	100	%
IBEX Global Solutions (Philippines) Inc.	Philippines	Call center	100	%	100	%
TRG Customer Solutions (Philippines) Inc.	Philippines	Call center	100	%	100	%
IBEX Global Solutions Senegal S.A. (formerly TRG Senegal SA)	Senegal	Call center	100	%	100	%
IBEX Global Solutions (Private) Limited	Pakistan	Call center	100	%	100	%
IBEX Global MENA FZE	Dubai	Call center	100	%	100	%
IBEX Global Bermuda Ltd	Bermuda	Call center	100	%	100	%
IBEX Global Solutions Nicaragua SA	Nicaragua	Call center	100	%	100	%
Ibex Honduras S.A. de C.V.	Honduras	Call center	100	%	—	%
IBEX Global St. Lucia Limited	St. Lucia	Holding company	100	%	100	%
IBEX Global Jamaica Limited	Jamaica	Call center	100	%	100	%
IBEX Receivable Solutions, Inc	USA	Call center	100	%	100	%
IBEX Global Solutions France SARL	France	Call center	100	%	100	%
IBEX Global Solutions Holdings Inc.	USA	Holding company	100	%	100	%
Digital Globe Services, LLC	USA	Internet marketing for residential cable services	100	%	100	%
TelsatOnline, LLC	USA	Internet marketing for non - cable telco services	100	%	100	%
7 Degrees LLC	USA	Digital marketing agency	100	%	100	%
iSky, LLC	USA	Customer experience	100	%	—	%

The following entities are indirect subsidiaries of the Holding Company through DGS Limited:


			Ownership %
Description	Location	Nature of Business	2022		2021
DGS Worldwide Marketing Limited	Cyprus	Holding company and global marketing	100	%	100	%
DGS (Pvt.) Limited	Pakistan	Call center and support services	100	%	100	%

The following entity is a Joint venture with membership interest held by Digital Globe Services, LLC:


			Ownership %
Description	Location	Nature of Business	2022		2021
Lakeball LLC (Note 7)	USA	Internet Marketing for commercial cable services	47.5	%	47.5	%

SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2022

SUBSEQUENT EVENTS.

SUBSEQUENT EVENTS

30. SUBSEQUENT EVENTS

30.1On July 29, 2022, the demand loan with First Global Bank Limited was paid in full.

30.2These consolidated financial statements were authorized for issue by the Chairman of IBEX Limited on behalf of the Board of Directors of IBEX Limited, on October 3, 2022.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jun. 30, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of consolidation

3.1. Basis of consolidation

Where the Company has control over an investee, it is classified as a subsidiary. The Company controls an investee if all three of the following elements are present:

●	power over the investee,

●	exposure to variable returns from the investee, and

●	the ability of the investor to use its power to affect those variable returns.

Control is reassessed whenever facts and circumstances indicate that there may be a change in any of these elements of control.

●	The size of the company’s voting rights relative to both the size and dispersion of other parties who hold voting rights

●	Substantive potential voting rights held by the Company and by other parties

●	Other contractual arrangements

●	Historic patterns in voting attendance

Joint arrangements

The group classifies its interests in joint arrangements as either:

●	Joint ventures: where the Group has rights to only the net assets of the joint arrangement

●	Joint operations: where the Group has both the rights to assets and obligations for the liabilities of the joint arrangement.

In assessing the classification of interests in joint arrangements, the Group considers:

●	The structure of the joint arrangement

●	The legal form of joint arrangements structured through a separate vehicle

●	The contractual terms of the joint arrangement agreement

●	Any other facts and circumstances (including any other contractual arrangements).

Property and equipment

3.2. Property and equipment

Owned


		Depreciation
Property and equipment	Useful economic life	method
Leasehold improvements	Expected term of lease	Straight line
Furniture, fixture and office equipment	3 - 5 years	Straight line
Computer equipment	3 years	Straight line
Vehicles	5 years	Straight line
Right of Use Assets	Expected term of lease	Straight line

The assets’ residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted prospectively, if appropriate.

Right of use assets and lease liabilities

The gains and losses on disposal of assets or termination of right of use assets are recognized in the consolidated statement of profit or loss.

Right of use assets are transferred to owned assets when the Group makes early payment or when there is an option to exercise purchase option and the Group exercises it.

Intangible assets

3.3. Intangible assets

3.3.1. Goodwill

Goodwill represents the excess of the cost of a business combination over the total acquisition date fair value of the identifiable assets, liabilities and contingent liabilities acquired.

3.3.2. Other intangible assets

Externally acquired intangible assets (such as software) are initially recognized at cost and subsequently amortized on a straight-line basis over their useful economic lives.

Expenditure on internally developed products is capitalized if it can be demonstrated that:

●	it is technically feasible to develop the product for it to be sold

●	adequate resources are available to complete the development

●	there is an intention to complete and sell the product

●	the Group is able to sell the product

●	sale of the product will generate future economic benefits, and

●	expenditure on the project can be measured reliably


Intangible Asset	Useful economic life	Valuation method
Customer lists	5 - 6 years	Straight line
Software	3 - 5 years	Straight line

Impairment of non-financial assets

3.4. Impairment of non-financial assets

Goodwill and other intangibles:

Goodwill is allocated on initial recognition to each of the Group’s CGUs that are expected to benefit from a business combination that gives rise to the goodwill.

Property and Equipment:

Impairment charges are included in the profit or loss, except to the extent they reverse gains previously recognized in other comprehensive income.

Financial instruments

3.5. Financial instruments

3.5.1. Financial assets

Fair value through other comprehensive income (“FVTOCI”):

The zero-cost collars were recognized, in accordance with IFRS 9, as financial assets (or liabilities, as applicable) at fair value through other comprehensive income.

Financial assets at amortized cost:

The Group includes in this category trade and other receivables, deposits, due from related parties and cash and cash equivalents.

The Group’s assets at amortized costs comprise trade and other receivables, deposits, due from related parties and cash and cash equivalents in the consolidated statement of financial position.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, and other short term highly liquid investments with original maturities of three months or less.

3.5.2. Financial liabilities

The Group classifies its financial liabilities into one of three categories, depending on the purpose for which the liability was acquired.

Fair value through profit and loss (“FVTPL”):

Fair value through other comprehensive income (“FVTOCI”):

The zero-cost collars were recognized, in accordance with IFRS 9, as financial assets (or liabilities, as applicable) at fair value through other comprehensive income.

Financial liabilities at amortized cost:

The Group includes in this category trade and other payables, borrowings, and due to related parties.

Financial liabilities at amortized cost are initially recognized at fair value net of any transaction costs directly attributable to the issue of the instrument.

Trade receivables

3.6. Trade receivables

Trade receivables are recognized and carried at original invoice amount less an allowance for expected credit losses.

Cash and cash equivalents

3.7. Cash and cash equivalents

Revenue from Contracts with Customers

3.8. Revenue from Contracts with Customers

IFRS 15 lays out a five-step process to ascertain the amount and timing of revenue that should be recognized.

●	Step 1: Identify the contract: The Company determines whether a contract exists between the reporting entity and customers that identifies rights, payment terms, has commercial substance and basis for collectability can be determined.

●	Step 2: Identify the Performance Obligations: The Company reviews the nature of the goods or service to be rendered in the contract and whether these are distinct. The reporting entity should recognize the revenue when it satisfies the performance obligations.

●

●	Step 4: Allocate the transaction price to the performance obligations in the contracts – Where separate performance obligations exist, the reporting entity allocates and assigns the consideration to the respective performance obligations.

●	Step 5: Revenue Recognition: Recognize revenue to when the entity satisfies the performance obligations.

Provisions

3.9. Provisions

Retirement benefits

3.10. Retirement benefits

Defined contribution pension schemes

Contributions to defined contribution pension schemes are charged to the profit or loss in the year to which they relate.

United States based subsidiaries

TRG Marketing Solutions Limited

Virtual World (Private) Limited and IBEX Global Solutions (Private) Limited

Defined benefit schemes

Defined benefit scheme surpluses and deficits are measured at:

●	The fair value of plan assets at the reporting date; less

●

●	The effect of minimum funding requirements agreed with scheme trustees

Re-measurements of the net defined obligation are recognized directly within other comprehensive income. The re-measurements include:

●	Actuarial gains and losses

●	Return on plan assets (interest exclusive)

●	Any asset ceiling effects (interest exclusive)

Service costs are recognized in the profit or loss, and include current and past service costs as well as gains and losses on curtailments.

IBEX Philippines, Inc. and IBEX Global Solutions (Philippines) Inc. operate an unfunded defined benefit scheme.

Share-based payments

3.11. Share-based payments

The Group has a number of share based compensation plans under which it grants share options, restricted stock awards and restricted stock units.

●	The share price.

●	The strike price.

●	Volatility determined based on historical prices of our shares.

●	The duration, which has been estimated as the difference between the valuation date of the warrant plans and final exercise date.

●	The risk free interest rate.

Where equity settled share options are awarded to employees, the fair value of the options at the date of grant is charged to the profit or loss over the vesting period.

Warrants

3.12. Warrants

The measurement of the warrant at fair value as of the initial measurement date is based on the Black-Scholes valuation model taking into account the following variables:

●	The share price.

●	The strike price.

●	Volatility determined based on historical prices of our shares.

●	The duration, which has been estimated as the difference between the valuation date of the warrant plans and final exercise date.

●	The risk free interest rate.

The Company considers a variety of factors in estimating the fair value of its common shares on each measurement date, including:

●	the Company’s historical and projected operating and financial performance;

●	the Company’s introduction of new products and services;

●	the Company’s completion of strategic acquisitions;

●	the Company’s stage of development;

●	the global economic outlook and its expected impact on the Company’s business; and

●	the market performance of comparable companies.

Treasury Shares

3.13. Treasury Shares

Share buyback

Income taxes

3.14. Income taxes

Current tax

Deferred tax

●	The initial recognition of goodwill,

●	The initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting or taxable profit, and

●	Investments in subsidiaries and jointly controlled entities where the Group is able to control the timing of the reversal of the difference and it is probable that the difference will not reverse in the foreseeable future.

Recognition of deferred tax assets is restricted to those instances where it is probable that taxable profit will be available against which the difference can be utilized.

●	The same taxable group company, or

●

Foreign Currency

3.15. Foreign Currency

Foreign currency translation

Offsetting of financial assets and financial liabilities

3.16. Offsetting of financial assets and financial liabilities

Dividend

3.17. Dividend

Derivative instruments and hedge accounting

3.18. Derivative instruments and hedge accounting

Derivative instruments and hedge accounting

●	there is an economic relationship between the hedged item and the hedging instrument;

●	the effect of credit risk does not dominate the value changes that result from that economic relationship; and

●	the hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item.

The Group excludes time value from its designations of its hedging relationships.

For more information, please see Note 22.

Standards, interpretations and amendments not yet effective

3.19. Standards, interpretations and amendments not yet effective

●

On February 12, 2021, the IASB issued amendments to IAS 8 to help entities distinguish between accounting policies and accounting estimates. The amendments to IAS 8 clarifies that:

accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty.”

Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty.

●

The Company is assessing the impact of the amendment and expects that the impact would not have a material impact on the financial statements.

THE GROUP AND ITS OPERATIONS (Tables)

12 Months Ended

Jun. 30, 2022

THE GROUP AND ITS OPERATIONS

Percentage of Equity Interest in Direct Subsidiaries


			Ownership %
Description	Location	Nature of Business	2022		2021
Subsidiaries
IBEX Global Limited	Bermuda	Holding Company	100	%	100	%
DGS Limited	Bermuda	Holding Company	100	%	100	%
iSky Inc.	USA	Customer experience	—	%	100	%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Depreciation on Property and Equipment Using the Straight Line Method


		Depreciation
Property and equipment	Useful economic life	method
Leasehold improvements	Expected term of lease	Straight line
Furniture, fixture and office equipment	3 - 5 years	Straight line
Computer equipment	3 years	Straight line
Vehicles	5 years	Straight line
Right of Use Assets	Expected term of lease	Straight line

Estimated Useful Lives of Intangible Assets


Intangible Asset	Useful economic life	Valuation method
Customer lists	5 - 6 years	Straight line
Software	3 - 5 years	Straight line

GOODWILL (Tables)

12 Months Ended

Jun. 30, 2022

GOODWILL.

Goodwill Acquisition


	June 30,	June 30,
	2022	2021
	(US$’000)
Goodwill as of beginning of the year	11,832	11,832
Goodwill acquired during the year	—	—
Goodwill impaired during the year	—	—
Goodwill as of end of the year	11,832	11,832

Key Assumption of Goodwill Impairment


	Average	Average		Terminal
	revenue	Gross	Discount	Growth
	growth rate	Margin	Rate	Rate
	%	%	%	%
June 30, 2022	7.1	28.9	15.6	5
June 30, 2021	9.2	29.0	13.2	5
June 30, 2020	7.9	26.2	13.2	5

OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Jun. 30, 2022

OTHER INTANGIBLE ASSETS.

Other Intangible Assets


			Customer
	Patents	Trademarks	lists	Software	Total
	(US$’000)
Cost
At July 1, 2021	541	371	2,817	21,949	25,678
Additions	—	—	—	1,270	1,270
Foreign exchange movements	—	—	—	(110)	(110)
At June 30, 2022	541	371	2,817	23,109	26,838
Accumulated amortization
At July 1, 2021	196	—	2,637	19,636	22,469
Amortization charge for the year	—	—	27	1,315	1,342
At June 30, 2022	196	—	2,664	20,951	23,811
Net book value
At June 30, 2022	345	371	153	2,158	3,027
At June 30, 2021	345	371	180	2,313	3,209

Cost
At July 1, 2020	541	371	2,817	20,466	24,195
Additions	—	—	—	1,463	1,463
Foreign exchange movements	—	—	—	20	20
At June 30, 2021	541	371	2,817	21,949	25,678
Accumulated amortization and impairment
At July 1, 2020	196	—	2,566	18,652	21,414
Amortization charge for the year	—	—	71	984	1,055
At June 30, 2021	196	—	2,637	19,636	22,469
Net book value
At June 30, 2021	345	371	180	2,313	3,209
At June 30, 2020	345	371	251	1,814	2,781

Estimated Amortization Expense


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
2023	1,200	800	400
2024	800	500	—
2025	300	—	—

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jun. 30, 2022

PROPERTY AND EQUIPMENT.

Property, Plant and Equipment


		Furniture,			Assets
	Leasehold	fixture and	Computer		under
	Improvements	equipment	Equipment	Vehicles	Construction	Total

Cost
At July 1, 2021	22,155	21,239	53,730	578	1,092	98,794
Additions	8,618	4,012	12,295	—	1,355	26,280
Transfer from CWIP	962	101	—	29	(1,092)	—
Transfer from right of use asset	354	—	—	50	—	404
Foreign exchange movements	(413)	(928)	(778)	—	—	(2,119)
Disposal	—	—	(245)	(92)	—	(337)
At June 30, 2022	31,676	24,424	65,002	565	1,355	123,022

Accumulated depreciation
At July 1, 2021	14,728	10,385	42,499	354	—	67,966
Charge for the year	4,010	3,487	8,822	79	—	16,398
Disposal	—	—	(245)	(84)	—	(329)
At June 30, 2022	18,738	13,872	51,076	349	—	84,035

Net book value
At June 30, 2022	12,938	10,552	13,926	216	1,355	38,987
At June 30, 2021	7,427	10,854	11,231	224	1,092	30,828

Cost
At July 1, 2020	16,016	12,010	41,805	333	741	70,905
Additions	4,775	4,448	10,287	298	1,092	20,900
Transfer from CWIP	248	440	53	—	(741)	—
Transfer from right of use asset	1,123	4,434	1,629	—	—	7,186
Foreign exchange movements	(7)	(83)	30	(11)	—	(71)
Disposal	—	(10)	(74)	(42)	—	(126)
At June 30, 2021	22,155	21,239	53,730	578	1,092	98,794

Accumulated depreciation
At July 1, 2020	12,236	8,099	36,892	333	—	57,560
Charge for the year	2,492	2,296	5,681	53	—	10,522
Disposal	—	(10)	(74)	(32)	—	(116)
At June 30, 2021	14,728	10,385	42,499	354	—	67,966

Net book value
At June 30, 2021	7,427	10,854	11,231	224	1,092	30,828
At June 30, 2020	3,780	3,911	4,913	—	741	13,345

Right of Use Assets Disclosure


			Furniture,
	Facility	Leasehold	fixture and	Computer
	Leases	Improvements	equipment	Equipment	Vehicles	Total
	(US$’000)
Right-of-use assets
Balance at July 1, 2021	74,748	439	—	432	256	75,875
Additions	23,470	—	—	—	452	23,922
Disposal - net of depreciation	(441)	—	—	—	—	(441)
Transferred to owned	—	(354)	—	—	(50)	(404)
Foreign exchange movements	(4,843)	—	—	—	(28)	(4,871)
Depreciation charge for the year	(15,967)	(60)	—	(236)	(176)	(16,439)
Balance at June 30, 2022	76,967	25	—	196	454	77,642

Balance at July 1, 2020	61,276	1,507	5,085	2,961	414	71,243
Additions	29,388	576	177	109	—	30,250
Disposal - net of depreciation	(3,207)	—	—	(349)	(8)	(3,564)
Transferred to owned	—	(1,123)	(4,434)	(1,629)	—	(7,186)
Foreign exchange movements	1,220	79	254	180	19	1,752
Depreciation charge for the year	(13,929)	(600)	(1,082)	(840)	(169)	(16,620)
Balance at June 30, 2021	74,748	439	—	432	256	75,875

Lease Liabilities


	June 30,	June 30,
	2022	2021
	(US$’000)
Lease liabilities included in statement of financial position as of	89,709	83,999
Current	13,705	12,121
Non Current	76,004	71,878

INVESTMENT IN JOINT VENTURE (Tables)

12 Months Ended

Jun. 30, 2022

INVESTMENT IN JOINT VENTURE.

Investments in Joint Venture


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Opening balance	258	331	227
Dividend received during the year	(1,027)	(650)	(430)
Share of profit for the year	1,151	577	534
Ending balance	382	258	331

Summarized Financial Information of Joint Venture Accounted for Using Equity Method

Summarized financial information of equity accounted Joint Venture from the financial statements of Lake Ball LLC is as follows:


	For the Year Ended
	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)

Revenue	6,455	4,342	3,152
Profit after tax	1,792	1,215	1,124
Other comprehensive income	—	—	—
Total comprehensive income	1,792	1,215	1,124

OTHER NON-CURRENT ASSETS (Tables)

12 Months Ended

Jun. 30, 2022

OTHER NON-CURRENT ASSETS.

OTHER NON-CURRENT ASSETS


		June 30,	June 30,
		2022	2021
	(US$’000)
Deposits		3,716	3,715
Prepayments		144	633
Other		730	891
		4,590	5,239

TRADE AND OTHER RECEIVABLES (Tables)

12 Months Ended

Jun. 30, 2022

TRADE AND OTHER RECEIVABLES

Trade and Other Receivables


		June 30,	June 30,
	Note	2022	2021
	(US$’000)
Trade receivables
Trade receivables - gross		76,708	69,715
Less: allowance for credit losses	9.2	(1,290)	(2,301)
Trade receivables - net		75,418	67,414
Less: receivables attributable to related parties, net		(95)	(725)
Trade receivables - net closing balance		75,323	66,689

Other receivables
Prepayments	9.1	7,135	5,281
Advance Tax		2,025	4,233
VAT/Sales Tax receivables		4,365	2,947
Other receivables		3,742	1,223
Deposits		840	731
		18,107	14,415
		93,430	81,104

Allowance for Credit Losses


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening balance	2,301	1,877
Foreign exchange movements	(250)	133
Loss allowance recognized during the year	(761)	291
Trade receivables written off against allowance	—	—
Closing balance	1,290	2,301

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Jun. 30, 2022

CASH AND CASH EQUIVALENTS.

Cash and Cash Equivalents


	June 30,	June 30,
	2022	2021
	(US$’000)
Balances with banks in:
− current accounts	46,675	55,258
− deposit accounts (with a maturity of 3 months or less at inception)	2,131	2,559
	48,806	57,817
Cash in hand	25	25
	48,831	57,842

DEFERRED REVENUE (Tables)

12 Months Ended

Jun. 30, 2022

DEFERRED REVENUE.

Deferred Revenue


	June 30,	June 30,
	2022	2021
	(US$’000)

Deferred revenue	12,593	7,087
Less: current portion of deferred revenue	(8,600)	(4,077)
	3,993	3,010

BORROWINGS (Tables)

12 Months Ended

Jun. 30, 2022

BORROWINGS

Borrowings


		June 30,	June 30,
	Note	2022	2021
		(US$’000)
Long-term other borrowings	13.1	3,825	6,205
Line of credit	13.2	11,202	22,312
		15,027	28,517
Less: Current portion of;
− long-term other borrowings	13.1	(3,487)	(4,404)
− line of credit	13.2	(11,202)	(22,312)
Less: Current portion of borrowings		(14,689)	(26,716)
Non-current portion of borrowings		338	1,801

Long-term other Borrowings

13.1. Long-term other borrowings


		June 30,	June 30,
	Note	2022	2021
		(US$’000)
Financial Institutions
IBM Credit LLC	13.1.1	—	180
Hewlett-Packard Financial Services Co.	13.1.1	155	511
IPFS Corporation	13.1.2	1,696	1,008
First Global Bank Limited Demand loan	13.1.3	1,626	3,149
JS Bank Limited	13.1.4	348	1,357
		3,825	6,205
Less: Current portion of long-term other borrowings		(3,487)	(4,404)
Non-current portion of long term other borrowings		338	1,801

Line of Credit

13.2. Line of credit


		June 30,	June 30,
	Note	2022	2021
	(US$’000)
Financial Institutions
PNC Bank, N.A.	13.2.1	11,202	22,312
		11,202	22,312

Changes in Liabilities Arising from Financing Activities

13.4. Changes in liabilities arising from financing activities:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Balance of debt, July 1,	112,516	105,970	118,253
Changes from operating cash flows	3,894	(827)	(3,379)
Changes from financing cash flows, net	(29,906)	(26,018)	(33,746)
New assets	24,072	31,790	24,295
Foreign exchange movement	(5,840)	1,601	547
Balance of debt, June 30,	104,736	112,516	105,970

OTHER NON-CURRENT LIABILITIES (Tables)

12 Months Ended

Jun. 30, 2022

OTHER NON-CURRENT LIABILITIES.

Other Non-Current Liabilities


		June 30,	June 30,
	Note	2022	2021
		(US$’000)
Defined benefit scheme	14.1	830	950
Warrant liability	28	4,847	7,784
Phantom stock plan	19.2	667	514
Other	14.2	802	1,890
		7,146	11,138

Principal Assumptions used for Purposes of Actuarial Valuations


	June 30,		June 30,
	2022		2021
	%		%
Discount rates	6.85	%	4.87	%
Expected rate of salary increase	3.00	%	3.00	%

Amounts Recognized in Statement of Profit or Loss and Other Comprehensive Income in Respect of Defined Benefit Scheme


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Current service cost	238	209	100
Interest on obligation	40	19	21
Total	278	228	121

Amount Included in Statement of Financial Position in Other Non-Current Liabilities Arising from Defined Benefit


	June 30,	June 30,
	2022	2021
	(US$’000)
Present value of unfunded defined benefit obligation	830	950
Net liability arising from defined benefit obligation	830	950

Movement in Present Value of Defined Benefit Obligation


	June 30,	June 30,
	2022	2021
	(US$’000)
Present value of defined benefit obligation at the beginning of the year	950	677
Foreign exchange movements	(111)	19
Current service cost	238	209
Interest cost	40	19
Actuarial gains	(287)	26
Present value of defined benefit obligation at the end of the year	830	950

TRADE AND OTHER PAYABLES (Tables)

12 Months Ended

Jun. 30, 2022

TRADE AND OTHER PAYABLES.

Trade and Other Payables


		June 30,	June 30,
	Note	2022	2021
		(US$’000)
Trade creditors		7,754	5,976
Accrued expenses		11,388	11,784
Accrued compensation	15.1	32,057	29,678
Cash flow hedge	15.2	992	316
Warrant liability	28	6,464	5,837
Others		1,158	1,272
		59,813	54,863

FINANCE EXPENSES (Tables)

12 Months Ended

Jun. 30, 2022

FINANCE EXPENSES.

Finance Expenses


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Interest on borrowings	1,121	1,756	2,453
Factoring Fees	60	73	186
Finance charges - right of use assets	7,421	7,078	6,457
Bank charges	195	127	332
Total	8,797	9,034	9,428

INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2022

INCOME TAXES.

Major components of income tax expense (benefit)


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Current tax:
Current year	3,324	3,876	1,850
Change in estimates related to prior year	(102)	80	201
	3,222	3,956	2,051
Deferred tax:
Origination and reversal of temporary differences	(825)	(2,062)	1,923
Changes in tax rates	(52)	24	270
Recognition of previously unrecognized tax losses	(4,332)	—	(1,907)
Recognition of previously unrecognized net deductible temporary differences	—	—	(22)
	(5,209)	(2,038)	264

Income tax (benefit) / expense charged to profit or loss	(1,987)	1,918	2,315

Income tax recognized in other comprehensive income related to hedging	(218)	—	—

Total income tax (benefit) / expense	(2,205)	1,918	2,315

Tax effect of deductible / (taxable) temporary differences

The tax effects of the Group’s temporary differences and carry forwards are as follows:

Tax effect of deductible / (taxable) temporary differences


	June 30,	June 30,
	2022	2021
	(US$’000)
Deductible temporary differences:
− Provisions and write-offs against accounts receivable	74	30
− Unpaid accrued expenses / compensation	1,319	2,446
− Tax credits carry-forward	2,454	967
− Net operating losses	5,732	834
− Property and equipment	264	385
− Lease liability (right of use assets)	7,406	5,692
− Net unrealized loss on hedging	218	—
	17,467	10,354
Taxable temporary differences:
− Property and equipment	(506)	(133)
− Right of use assets	(6,297)	(5,097)
− Intangible assets	(1,199)	(958)
	(8,002)	(6,188)
Net deferred tax assets	9,465	4,166

	June 30,	June 30,
	2022	2021
	(US$’000)
Deferred tax asset	9,465	4,252
Deferred tax liability	-	(86)
	9,465	4,166

Movement in Deferred Tax Assets (Liability)


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening deferred tax assets	4,166	2,106
Deferred tax benefit for the year	5,209	2,038
Foreign exchange and other rate differences	(128)	22
Deferred tax recognized in other comprehensive income	218	—
Net deferred tax assets	9,465	4,166

Unrecognized deferred tax assets


	June 30,	June 30,
	2022	2021
	(US$’000)
Unused tax losses	11,553	26,575
Deductible temporary differences	—	81
Unused tax losses and deductible differences - unrecognized	11,553	26,656

Reconciliation of effective tax rate


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Profit for the year	22,990	2,847	7,770
Income tax (benefit) / expense	(1,987)	1,918	2,315
Net profit before income tax	21,003	4,765	10,085


	June 30,		June 30,	June 30,		June 30,	June 30,		June 30,
	2022		2022	2021		2021	2020		2020
	(%)		(US$’000)	(%)		(US$’000)	(%)		(US$’000)

Income tax expense using the applicable tax rate	21.0	%	4,411	21.0	%	1,001	21.0	%	2,118
State taxes (net of federal tax effect)	3.0	%	637	7.3	%	349	12.9	%	1,303
Effect of tax and exchange rates in foreign jurisdictions	(0.2)	%	(52)	3.7	%	175	(7.7)	%	(776)
Foreign subsidiaries taxed at lower rate or tax exempt	(8.3)	%	(1,734)	22.3	%	1,064	1.9	%	191
Non-deductible expenses / exempt income	1.4	%	284	5.4	%	256	3.3	%	328
Employment and other tax credits	(7.1)	%	(1,487)	(20.3)	%	(967)	—	%	—
Prior year provision / other items	(0.6)	%	(117)	(3.8)	%	(180)	(3.2)	%	(320)
Unrecognized losses utilized during the year	(0.6)	%	(136)	—	%	—	10.1	%	1,018
Change in unrecognized temporary differences	(18.1)	%	(3,793)	4.6	%	220	(15.3)	%	(1,547)
	(9.5)	%	(1,987)	40.2	%	1,918	23.0	%	2,315

SHARE BASED COMPENSATION PLANS (Tables)

12 Months Ended

Jun. 30, 2022

SHARE BASED COMPENSATION PLANS [Abstract]

Share-based Payments Expenses


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Cash settled:
Phantom Stock Plan	33	851	(31)

Equity settled:
2018 Restricted Stock Awards (RSA)	6	45	95
2020 Long term Incentive Plan	1,812	3,625	295
	1,818	3,670	390

Total	1,851	4,521	359

Phantom Stock Plan [Member]

SHARE BASED COMPENSATION PLANS [Abstract]

Summary of Options Outstanding and Exercisable


	2022		2021
	Weighted	Share	Weighted	Share
	average	Options	average	Options
	exercise price	(Number)	exercise price	(Number)
	(US$)		(US$)
Options outstanding as of beginning of the period	18.01	210,740	6.81	54,575
Options granted during the period	—	—	20.86	167,935
Options exercised during the period	6.81	(16,743)	6.81	(11,770)
Options forfeited / cancelled / expired during the period	20.86	(6,324)	—	—
Options outstanding as of end of the period	18.91	187,673	18.01	210,740

Options exercisable as of end of the period	17.92	124,353	12.90	95,660

2018 RSA Plan - Non-Executive Management [Member]

SHARE BASED COMPENSATION PLANS [Abstract]

Summary of Options Outstanding and Exercisable


	2022		2021
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	638,385	0.61	650,193
RSAs granted during the period	—	—	0.61	280
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	0.61	(3,013)	0.61	(12,088)
RSAs outstanding as of end of the period	0.61	635,372	0.61	638,385

RSAs vested as of end of the period	0.61	626,966	0.61	587,756

2018 RSA Plan Non-Performance - Executive Leadership Team [Member]

SHARE BASED COMPENSATION PLANS [Abstract]

Summary of Options Outstanding and Exercisable


	2022		2021
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	918,719	0.61	918,719
RSAs granted during the period	—	—	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	—	—	—	—
RSAs outstanding as of end of the period	0.61	918,719	0.61	918,719

RSAs vested as of end of the period	0.61	918,719	0.61	844,452

2018 Restricted Stock Awards, Performance - Executive Leadership Team [Member]

SHARE BASED COMPENSATION PLANS [Abstract]

Summary of Options Outstanding and Exercisable


	2022		2021
	Grant Date		Grant Date
	Fair Market	RSA	Fair Market	RSA
	Value	(Number)	Value	(Number)
	(US$)		(US$)
RSAs outstanding as of beginning of the period	0.61	272,748	0.61	272,748
RSAs granted during the period	—	—	—	—
RSAs exercised during the period	—	—	—	—
RSAs forfeited / cancelled / expired during the period	—	—	—	—
RSAs outstanding as of end of the period	0.61	272,748	0.61	272,748

RSAs vested as of end of the period	0.61	245,862	0.61	207,961

2020 Long Term Incentive Plan [Member]

SHARE BASED COMPENSATION PLANS [Abstract]

Summary of Restricted Share awards ("RSAs") Outstanding and Exercisable


	2022		2021
		Share		Share
	Weighted	Options /	Weighted	Options /
	average	awards	average	awards
	exercise price	(Number)	exercise price	(Number)
	(US$)		(US$)
Options / awards outstanding as of beginning of the year	16.70	845,918	12.75	338,432
Options / awards granted during the year	17.39	819,644	19.23	525,143
Options / awards exercised during the year	12.75	(2,716)	19.00	(1,442)
Options / awards forfeited / cancelled / expired during the year	19.28	(200,453)	15.96	(16,215)
Options / awards outstanding as of end of the year	16.42	1,462,393	16.70	845,918

Options / awards exercisable as of end of the year	16.83	578,127	16.97	366,865

EARNINGS PER SHARE (Tables)

12 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE [Abstract]

Earnings Per Share


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Total - Income attributable to shareholders of the Holding Company	22,990	2,847	7,770

Total – Income attributable to ordinary shareholders of the company	22,990	2,847	—

	(Shares)
Weighted average number of ordinary shares - basic	18,232,399	17,649,446	1,176,370

	(US$)
Total - Basic earnings per share	1.26	0.16	—

	(Shares)
Weighted average number of ordinary shares - diluted	18,701,068	18,384,921	12,936,962

	(US$)
Total - Diluted earnings per share	1.23	0.15	—

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES (Tables)

12 Months Ended

Jun. 30, 2022

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES..

Financial Instruments Held by Category

A summary of the financial instruments held by category is provided below:


	June 30,	June 30,
	2022	2021
	(US$’000)
Financial assets - amortized cost
Deposits	4,556	4,446
Trade receivables	75,323	66,689
Other receivables	3,561	1,223
Due from related parties	108	1,755
Cash and cash equivalents	48,831	57,842
	132,379	131,955

Financial assets - fair value through other comprehensive income
Cash flow hedge (Note 9)	181	-

Financial liabilities - amortized cost
Lease liabilities	89,709	83,999
Borrowings	15,027	28,517
Trade and other payables	23,265	22,695
Due to related parties	2,595	4,275
	130,596	139,486
Financial liabilities – fair value through profit and loss
Warrant liabilities (Note 28)	11,311	13,621
	11,311	13,621

Financial liabilities – fair value through other comprehensive income
Cash flow hedge (Note 15)	992	316
	992	316

Movement of warrant liabilities

Movement of Warrant liabilities as of June 30, 2022 and 2021:


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening balance	13,621	3,889
Fair Value Adjustment	(3,926)	7,786
Warrants vested during the year	1,616	1,946
Closing balance	11,311	13,621

Financial Liabilities Measured at Fair Value


		June 30,	June 30,
		2022	2021
		(US$’000)
Financial liabilities – fair value through profit and loss	Fair value hierarchy

Warrant liabilities (Note 28)	Level 3	11,311	13,621

Financial liabilities – fair value through other comprehensive income	Fair value hierarchy
Cash flow hedge (Note 15)	Level 2	992	316
		12,303	13,937

Financial Instruments By Type Of Interest Rate Explanatory

The fair value of the interest rate swap as of June 30, 2022 and June 30, 2021 is as follows:


		USD	Floating rate	Fixed rate		Fair value
Maturity Date		Notional	receivable	payable		(liability) / asset
	(US$’000)
Interest rate swap
March 26, 2023	$	15,000	1M USD-SOFR	1.43%
Fair value as of June 30, 2021					$	(316)
Fair value as of June 30, 2022					$	170

Financial position are translated into U.S. Dollars from local currencies at the period-end exchange rate

As of June 30, 2022, the fair value of the foreign exchange option contracts that were recognized as financial assets and liabilities at fair value through other comprehensive income were as follows:


			Notional			Fair Value
		Hedged	foreign		Notional	assets /
Settlement date		currency	currency rate		amount	(liabilities)
	(US$’000)
Foreign currency option contracts - assets
July 5, 2022 through June 20, 2023		PHP	49.00-54.20	$	21,380	11
Fair value as of June 30, 2022						11
Foreign currency option contracts - liabilities
July 5, 2022 through June 20, 2023		PHP	49.00-54.20	$	21,380	992
Fair value as of June 30, 2022						992

Detailed Information About Cash Flow Hedge Reserve

Movement of the cash flow hedge reserve is as follows:


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening balance	316	518
Loss / (gain) arising on changes in fair value of hedging instruments during the period	860	(202)
(Loss) / gain reclassified to profit or loss - hedged item has affected profit or loss	(319)	-
Closing balance	857	316

Credit Risk

Credit rating wise breakup of bank balances:


	June 30,	June 30,
	2022	2021
	(US$’000)
A-1+	3,283	2,396
A-1	42,146	—
AA-	694	—
A+	524	45,082
A	—	3,138
A-	—	403
A-3	128	—
B+	943	955
BA3	73	90
BBB+	—	4,635
BBB	1,015	1,118
Non - Rated	25	25
Total	48,831	57,842

The maximum exposure to credit risk is as follows:


	June 30,	June 30,
	2022	2021
	(US$’000)
Financial assets - amortized cost
Deposits	4,556	4,446
Trade receivables	75,323	66,689
Other receivables	3,561	1,223
Due from related parties	108	1,755
Cash and cash equivalents	48,831	57,842
	132,379	131,955

Concentration of Credit Risk with Clients

The Group’s top three clients based on respective fiscal year revenue are shown below:


	2022
	Revenue			Trade debts gross
	Amount			Amount
	(US$’000)	% of total		(US$’000)	% of total
Client 1	59,570	12	%	9,966	13	%
Client 2	36,814	8	%	5,725	7	%
Client 3	35,827	7	%	4,369	6	%
Subtotal	132,211	27	%	20,060	26	%
Others	361,361	73	%	56,648	74	%
Revenue from external customers	493,572	100	%	76,708	100	%


	2021
	Revenue			Trade debts gross
	Amount			Amount
	(US$’000)	% of total		(US$’000)	% of total
Client 1	55,181	12	%	7,247	10	%
Client 2	51,991	12	%	6,169	9	%
Client 3	48,245	11	%	4,936	7	%
Subtotal	155,417	35	%	18,352	26	%
Others	288,245	65	%	51,363	74	%
Revenue from external customers	443,662	100	%	69,715	100	%


	2020
	Revenue			Trade debts gross
	Amount			Amount
	(US$’000)	% of total		(US$’000)	% of total
Client 1	73,743	18	%	114	0	%
Client 2	64,937	16	%	7,425	13	%
Client 3	38,528	10	%	9,012	16	%
Subtotal	177,208	44	%	16,551	30	%
Others	227,927	56	%	39,311	70	%
Revenue from external customers	405,135	100	%	55,862	100	%

Expected Credit Loss for Trade Receivables

On the above basis the expected credit loss for trade receivables as at June 30, 2022 and June 30, 2021 was determined as follows:


	June 30, 2022
	(US$’000)
			Due: 0 to 30		Due: 31 - 60		Due: 61 to 90		Due: 91 - 180		Due: over 180
	Not overdue		days		days		days		days		days		Total
Expected credit loss rate	0	%	0	%	3	%	15	%	31	%	98	%	—
Gross carrying amount	73,524		1,302		238		196		261		1,187		76,708
Lifetime expected credit loss	4		1		7		29		80		1,169		1,290
Individually impaired trade receivables													—
Total allowance for credit losses													1,290


	June 30, 2021
	(US$’000)
			Due: 0 to 30		Due: 31 - 60		Due: 61 to 90		Due: 91 - 180		Due: over 180
	Not overdue		days		days		days		days		days		Total
Expected credit loss rate	0	%	0	%	1	%	17	%	25	%	77	%	—
Gross carrying amount	65,090		1,933		192		190		300		2,010		69,715
Lifetime expected credit loss	4		6		1		33		74		1,545		1,663
Individually impaired trade receivables													638
Total allowance for credit losses													2,301

Details of Individually Credit Impaired Balances

Below are the details of specific individually credit impaired balances as of June 30, 2022:


	June 30,	June 30,
	2022	2021
	(US$’000)
Credit impaired trade receivables - Gross carrying amount	1,138	2,142
Expected credit loss allowance	(1,124)	(2,124)
	14	18

Assets (Liability) Contractual Maturities

The following table presents the contractual maturities (liquidity analysis) as of June 30, 2022 and 2021:


	June 30, 2022
	Less than 1
	year	1 - 3 years	4 - 5 years	Total
	(US$’000)
Deposits	840	3,716	—	4,556
Trade receivables	75,323	—	—	75,323
Other receivables	3,561	—	—	3,561
Due from related parties	108	—	—	108
Cash and cash equivalents	48,831	—	—	48,831
Subtotal	128,663	3,716	—	132,379
Lease liability	20,333	35,621	60,428	116,382
Long - term other borrowings	3,587	343	—	3,930
Line of credit	11,202	—	—	11,202
Trade and other payables	24,257	—	—	24,257
Due to related parties	2,595	—	—	2,595
Subtotal	61,974	35,964	60,428	158,366
Net liquidity position	66,689	(32,248)	(60,428)	(25,987)


	June 30, 2021
	Less than 1
	year	1 - 3 years	4 - 5 years	Total
	(US$’000)
Deposits	731	3,715	—	4,446
Trade receivables	66,689	—	—	66,689
Other receivables	1,223	—	—	1,223
Due from related parties	1,755	—	—	1,755
Cash and cash equivalents	57,842	—	—	57,842
Subtotal	128,240	3,715	—	131,955
Lease liability	18,344	32,811	61,730	112,885
Long - term other borrowings	4,626	1,855		6,481
Line of credit	22,312	—	—	22,312
Trade and other payables	23,011	—	—	23,011
Due to related parties	4,275	—	—	4,275
Subtotal	72,568	34,666	61,730	168,964
Net liquidity position	55,672	(30,951)	(61,730)	(37,009)

TRANSACTIONS WITH RELATED PARTIES (Tables)

12 Months Ended

Jun. 30, 2022

TRANSACTION WITH RELATED PARTIES.

Balances and Transactions Between Related Parties

Material related party balances and transactions other than reorganization transaction and those disclosed elsewhere in these consolidated financial statements, are given below:

June 30, 2022

Service

Due from

Due to

Relationship with

delivery

related

Note

related party

revenue

expense

parties

(US$’000)

BPO Solutions, Inc.

23.1

Related entity

—

2,459

Alert Communications, Inc.

23.1

Related entity

—

Afiniti International Holdings Limited

23.1

Related entity

—

124

Vendors with common directors

23.2 & 23.3

Related entity

176

152

IBEX Limited Executive Leadership

23.4

Officers

—

299

171

108

2,595


			June 30, 2021
			Service	Service	Due from	Due to
		Relationship with	delivery	delivery	related	related
	Note	related party	revenue	expense	parties	parties
			(US$’000)
BPO Solutions, Inc.	23.1	Related entity	—	—	—	3,610
Alert Communications, Inc.	23.1	Related entity	113	—	696	—
TRG Marketing Services, Inc.	23.1	Related entity	—	—	19	—
Afiniti International Holdings Limited	23.1	Related entity	56	27	—	168
TRG Holdings, LLC	23.1	Related entity	—	—	—	122
The Resource Group International Limited	23.1	Parent	—	—	163	—
Vendors with common directors	23.2 & 23.3	Related entity	201	405	87	97
3rd Party Client and Internet Services Provider	23.3	Related entity	679	77	638	278
IBEX Limited Executive Leadership	23.4	Officers	—	—	13	—
TRG (Private) Limited	23.1	Related entity	—	—	121	—
Etelequote	23.1	Related entity	115	—	18	—
			1,164	509	1,755	4,275


			June 30, 2020
			Service	Service
		Relationship with	delivery	delivery
	Note	related party	revenue	expense
			(US$’000)
Alert Communications, Inc.	23.1	Related entity	164	—
Afiniti International Holdings Limited	23.1	Related entity	53	48
Vendors with common directors	23.2 & 23.3	Related entity	310	489
3rd Party Client and Internet Services Provider	23.3	Related entity	764	73
Etelequote	23.1	Related entity	34	—
			1,325	610

SEGMENT INFORMATION (Tables)

12 Months Ended

Jun. 30, 2022

SEGMENT INFORMATION [Abstract]

Revenue from Geographical Areas

The Group generates approximately 97% of its revenue from clients based in the United States of America.


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Revenue
United States of America	476,813	428,831	391,933
Others	16,759	14,831	13,202
Total	493,572	443,662	405,135

Revenue Disaggregated by Pattern of Revenue Recognition

The Group’s revenue disaggregated by pattern of revenue recognition is as follows:


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Pattern of Revenue recognition
− Services transferred at a point in time	37,645	40,775	48,486
− Services transferred over time	455,927	402,887	356,649
	493,572	443,662	405,135

Movement in Deferred Revenue

The movement in the deferred revenue is as follows:


	June 30,	June 30,
	2022	2021
	(US$’000)
Opening balance	7,087	3,904
Revenue recognized during the year	(5,592)	(5,416)
Revenue deferred during the year	11,098	8,599
Closing balance	12,593	7,087

Deferred Revenue Expected to be Recognized

The following aggregated amounts of deferred revenue from existing contracts that are to be recognized in revenue in the following fiscal years:


	FY2023	FY2024	FY2025	FY2026	FY2027	Total
	(US$’000)
Deferred Revenue expected to be recognized	8,600	3,642	323	26	2	12,593

Non-current Assets by Location


	June 30,	June 30,
	2022	2021
	(US$’000)
United States of America	37,420	28,668
Others	99,975	99,993

Total¹	137,395	128,661
¹Excludes deferred tax asset

PAYROLL AND RELATED COSTS (Tables)

12 Months Ended

Jun. 30, 2022

PAYROLL AND RELATED COSTS

Expenses Recognized for Employee Benefits


	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Salaries and other employee costs	289,740	247,926	228,818
Social security and other taxes	51,403	47,874	46,480
Retirement - contribution plan	718	771	823
Pensions - defined benefit scheme	278	228	134
Total payroll and related costs	342,139	296,799	276,255

Remuneration of Key Management Personnel


26.1 Remuneration of Key Management Personnel

The key management personnel includes the directors.
	June 30,	June 30,	June 30,
	2022	2021	2020
	(US$’000)
Salaries and other employee costs	5,055	5,293	5,524
Share - based payments	847	1,671	214
Total remuneration of key management personnel	5,902	6,964	5,738

OTHER OPERATING COSTS (Tables)

12 Months Ended

Jun. 30, 2022

OTHER OPERATING COSTS.

Other Operating Costs


		June 30,	June 30,	June 30,
	Note	2022	2021	2020
		(US$’000)
Rent and utilities		10,797	8,462	7,802
Telecommunication		7,378	6,890	6,908
Information technology		10,130	8,331	5,225
Facilities expense		20,101	20,742	16,510
Travel and housing		2,621	1,679	7,972
Local transportation	27.1	8,024	13,768	3,977
Insurance		5,207	4,837	1,516
Legal and professional expenses	27.2	5,609	8,112	6,570
Allowance for expected credit loss		(761)	291	224
Others		5,899	3,753	7,366
Other Operating Costs		75,005	76,865	64,070

HOLDING COMPANY INDIRECT SUBSIDIARIES (Tables)

12 Months Ended

Jun. 30, 2022

HOLDING COMPANY INDIRECT SUBSIDIARIES

Indirect Subsidiaries


			Ownership %
Description	Location	Nature of Business	2022		2021
IBEX Global Solutions Limited	England	Holding company	100	%	100	%
Lovercius Consultants Limited	Cyprus	Call center	100	%	100	%
IBEX Global Europe	Luxembourg	Tech support services	100	%	100	%
IBEX Global ROHQ	Philippines	Regional HQ	100	%	100	%
IBEX Global Solutions, Inc. (formerly TRG Customer Solutions, Inc.)	USA	Call center	100	%	100	%
TRG Customer Solutions (Canada), Inc.	Canada	Call center	100	%	100	%
TRG Marketing Solutions Limited	England	Call center	100	%	100	%
Virtual World (Private) Limited	Pakistan	Call center	100	%	100	%
IBEX Philippines, Inc.	Philippines	Call center	100	%	100	%
IBEX Global Solutions (Philippines) Inc.	Philippines	Call center	100	%	100	%
TRG Customer Solutions (Philippines) Inc.	Philippines	Call center	100	%	100	%
IBEX Global Solutions Senegal S.A. (formerly TRG Senegal SA)	Senegal	Call center	100	%	100	%
IBEX Global Solutions (Private) Limited	Pakistan	Call center	100	%	100	%
IBEX Global MENA FZE	Dubai	Call center	100	%	100	%
IBEX Global Bermuda Ltd	Bermuda	Call center	100	%	100	%
IBEX Global Solutions Nicaragua SA	Nicaragua	Call center	100	%	100	%
Ibex Honduras S.A. de C.V.	Honduras	Call center	100	%	—	%
IBEX Global St. Lucia Limited	St. Lucia	Holding company	100	%	100	%
IBEX Global Jamaica Limited	Jamaica	Call center	100	%	100	%
IBEX Receivable Solutions, Inc	USA	Call center	100	%	100	%
IBEX Global Solutions France SARL	France	Call center	100	%	100	%
IBEX Global Solutions Holdings Inc.	USA	Holding company	100	%	100	%
Digital Globe Services, LLC	USA	Internet marketing for residential cable services	100	%	100	%
TelsatOnline, LLC	USA	Internet marketing for non - cable telco services	100	%	100	%
7 Degrees LLC	USA	Digital marketing agency	100	%	100	%
iSky, LLC	USA	Customer experience	100	%	—	%


			Ownership %
Description	Location	Nature of Business	2022		2021
DGS Worldwide Marketing Limited	Cyprus	Holding company and global marketing	100	%	100	%
DGS (Pvt.) Limited	Pakistan	Call center and support services	100	%	100	%

Joint Venture


			Ownership %
Description	Location	Nature of Business	2022		2021
Lakeball LLC (Note 7)	USA	Internet Marketing for commercial cable services	47.5	%	47.5	%

THE GROUP AND ITS OPERATIONS (Details) $ in Thousands, item in Millions	12 Months Ended
	Jun. 30, 2022 USD ($) item	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Going Concern [Abstract]
Number of interactions each year with consumers \| item	200
Net income	$ 22,990	$ 2,847	$ 7,770
Net cash generated from operating activities	50,129	25,897	51,719
Accumulated deficit	(87,690)	(110,680)
Borrowings and line of credit	15,027	28,517
Current assets in excess of current liabilities	40,900
Proceeds from borrowings	11,200
Cash and cash equivalents	48,831	$ 57,842	$ 21,870	$ 8,873
Transportation expense	$ 1,600

THE GROUP AND ITS OPERATIONS, Nature of business and ownership percentage (Details)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
IBEX Global Limited
Going Concern
Name of subsidiary	IBEX Global Limited
Location	Bermuda
Nature of business	Holding Company
Ownership interest	100.00%	100.00%
DGS Limited
Going Concern
Name of subsidiary	DGS Limited
Location	Bermuda
Nature of business	Holding Company
Ownership interest	100.00%	100.00%
iSky Inc.
Going Concern
Name of subsidiary	iSky Inc.
Location	USA
Nature of business	Customer experience
Ownership interest		100.00%

BASIS OF PREPARATION (Details)	1 Months Ended	12 Months Ended
BASIS OF PREPARATION (Details)	Dec. 31, 2018 USD ($) $ / shares	Jun. 30, 2022 EquityInstruments USD ($)	Jun. 30, 2021 EquityInstruments	Jun. 30, 2020 USD ($)	Dec. 22, 2018 USD ($)
BASIS OF PREPARATION
Percentage of total revenue		100.00%	100.00%	100.00%
Weighted-average expected life (in years)		5.37
Granted (in shares) \| EquityInstruments		819,644	525,143
Preference shares, aggregate value					$ 149,200,000
Minimum
BASIS OF PREPARATION
Percentage of total revenue		97.00%
Restricted share awards
BASIS OF PREPARATION
Weighted-average expected life (in years)		4
Granted (in shares)	2,373,374			1,841,660
Fair value of common shares (in dollars per share) \| $ / shares	$ 0.61
United States of America \| Minimum
BASIS OF PREPARATION
Percentage of total revenue		97.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details)	12 Months Ended
	Jun. 30, 2022
Property and Equipment [Abstract]
Useful economic life	3 years
Depreciation method	Straight line
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Depreciation method	Straight line
Furniture, Fixtures and Office Equipment [Member]
Property and Equipment [Abstract]
Depreciation method	Straight line
Furniture, Fixtures and Office Equipment [Member] \| Bottom of Range [Member]
Property and Equipment [Abstract]
Useful economic life	3 years
Furniture, Fixtures and Office Equipment [Member] \| Top of Range [Member]
Property and Equipment [Abstract]
Useful economic life	5 years
Vehicles [Member]
Property and Equipment [Abstract]
Useful economic life	5 years
Depreciation method	Straight line
Right-of-use Assets [Member]
Property and Equipment [Abstract]
Useful economic life	Expected term of lease
Depreciation method	Straight line

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details)	12 Months Ended
	Jun. 30, 2022
Customer Lists [Member]
Intangible Assets [Abstract]
Valuation method	Straight line
Customer Lists [Member] \| Bottom of Range [Member]
Intangible Assets [Abstract]
Useful economic life	5 years
Customer Lists [Member] \| Top of Range [Member]
Intangible Assets [Abstract]
Valuation method	6 years
Software [Member]
Intangible Assets [Abstract]
Valuation method	Straight line
Software [Member] \| Bottom of Range [Member]
Intangible Assets [Abstract]
Useful economic life	3 years
Software [Member] \| Top of Range [Member]
Intangible Assets [Abstract]
Useful economic life	5 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Retirement Benefits (Details) - Qualified Defined Benefit Plan [Member] - US [Member]	12 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Percentage of employer matching contributions vested	100.00%
First 3% of Employee Contributions
Retirement Benefits [Abstract]
Percentage of matching contributions	100.00%
Percentage of employee contribution	3.00%
Next 2% of Employee Contributions
Retirement Benefits [Abstract]
Percentage of matching contributions	50.00%
Percentage of employee contribution	2.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Warrant Shares (Details)	12 Months Ended
	Jun. 30, 2022
Warrants Shares [Abstract]
Amazon warrants, vest period	7 years 6 months

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Foreign Currency (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Foreign Currency [Abstract]
Net exchange losses	$ 0.1	$ 0.2	$ 0.4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Treasury Shares (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Authorized repurchase amount		$ 20.0
Repurchased common stock shares	227,889
Repurchased common stock shares amount	$ 3.4

GOODWILL (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Reconciliation of changes in goodwill [abstract]
Goodwill as of beginning of the year	$ 11,832	$ 11,832
Goodwill as of end of the year	$ 11,832	$ 11,832

GOODWILL - Carrying Amount of Goodwill (Details) $ in Millions	12 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill carrying amount [Abstract]
Recoverable amount of cash generating unit in excess of its carrying amount	$ 254.0

GOODWILL - Testing for impairment of goodwill (Details)	12 Months Ended
GOODWILL - Testing for impairment of goodwill (Details)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Key assumptions applied in impairment testing [Abstract]
Projection period used in revenue growth assumption	3 years
Average revenue growth rate	7.10%	9.20%	7.90%
Average Gross Margin	28.90%	29.00%	26.20%
Discount Rate	15.60%	13.20%	13.20%
Terminal Growth Rate	5.00%	5.00%	5.00%

OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	$ 3,209	$ 2,781
Impairment charge for the year	0	0	$ 777
Other Intangible Assets, ending	3,027	3,209	2,781
Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	25,678	24,195
Additions	1,270	1,463
Foreign exchange movements	(110)	20
Other Intangible Assets, ending	26,838	25,678	24,195
Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(22,469)
Amortization charge for the year	(1,342)
Other Intangible Assets, ending	(23,811)	(22,469)
Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(22,469)	(21,414)
Amortization charge for the year		(1,055)
Other Intangible Assets, ending		(22,469)	(21,414)
Patents [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	345	345
Other Intangible Assets, ending	345	345	345
Patents [Member] \| Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	541	541
Additions	0	0
Foreign exchange movements	0	0
Other Intangible Assets, ending	541	541	541
Patents [Member] \| Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(196)
Amortization charge for the year	0
Other Intangible Assets, ending	(196)	(196)
Patents [Member] \| Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(196)	(196)
Amortization charge for the year		0
Other Intangible Assets, ending		(196)	(196)
Trademarks [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	371	371
Other Intangible Assets, ending	371	371	371
Trademarks [Member] \| Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	371	371
Additions	0	0
Foreign exchange movements	0	0
Other Intangible Assets, ending	371	371	371
Trademarks [Member] \| Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	0
Amortization charge for the year	0
Other Intangible Assets, ending	0	0
Trademarks [Member] \| Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	0	0
Amortization charge for the year		0
Other Intangible Assets, ending		0	0
Customer Lists [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	180	251
Other Intangible Assets, ending	$ 153	180	251
Customer Lists [Member] \| Bottom of Range [Member]
Other Intangible Assets [Abstract]
Estimated remaining useful life	5 years
Customer Lists [Member] \| Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	$ 2,817	2,817
Additions	0	0
Foreign exchange movements	0	0
Other Intangible Assets, ending	2,817	2,817	2,817
Customer Lists [Member] \| Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(2,637)
Amortization charge for the year	(27)
Other Intangible Assets, ending	(2,664)	(2,637)
Customer Lists [Member] \| Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(2,637)	(2,566)
Amortization charge for the year		(71)
Other Intangible Assets, ending		(2,637)	(2,566)
Software [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	2,313	1,814
Other Intangible Assets, ending	$ 2,158	2,313	1,814
Software [Member] \| Bottom of Range [Member]
Other Intangible Assets [Abstract]
Estimated remaining useful life	3 years
Software [Member] \| Top of Range [Member]
Other Intangible Assets [Abstract]
Estimated remaining useful life	5 years
Software [Member] \| Cost [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	$ 21,949	20,466
Additions	1,270	1,463
Foreign exchange movements	(110)	20
Other Intangible Assets, ending	23,109	21,949	20,466
Software [Member] \| Accumulated Amortization [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(19,636)
Amortization charge for the year	(1,315)
Other Intangible Assets, ending	(20,951)	(19,636)
Software [Member] \| Accumulated Amortization and Impairment [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	(19,636)	(18,652)
Amortization charge for the year		(984)
Other Intangible Assets, ending		(19,636)	$ (18,652)
Software Licenses [Member]
Other Intangible Assets [Abstract]
Other Intangible Assets, beginning	500
Other Intangible Assets, ending	$ 100	$ 500

OTHER INTANGIBLE ASSETS - Estimated Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Estimated amortisation expense [Abstract]
2023	$ 1,200	$ 800	$ 400
2024	800	500
2025	300
Impairment charges	$ 0	$ 0	$ 777

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	$ 30,828	$ 13,345
Property, plant and equipment, end of period	38,987	30,828	$ 13,345
Impairment of property, plant and equipment	0	0	0
Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	98,794	70,905
Additions	26,280	20,900
Transfers from right of use asset	404	7,186
Foreign exchange movements	(2,119)	(71)
Disposal	(337)	(126)
Property, plant and equipment, end of period	123,022	98,794	70,905
Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(67,966)	(57,560)
Charge for the year	(16,398)	(10,522)
Disposal	329	116
Property, plant and equipment, end of period	(84,035)	(67,966)	(57,560)
Leasehold Improvements [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	7,427	3,780
Property, plant and equipment, end of period	12,938	7,427	3,780
Leasehold Improvements [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	22,155	16,016
Additions	8,618	4,775
Transfer from CWIP	962	248
Transfers from right of use asset	354	1,123
Foreign exchange movements	(413)	(7)
Property, plant and equipment, end of period	31,676	22,155	16,016
Leasehold Improvements [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(14,728)	(12,236)
Charge for the year	(4,010)	(2,492)
Property, plant and equipment, end of period	(18,738)	(14,728)	(12,236)
Furniture, Fixture and Equipment [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	10,854	3,911
Property, plant and equipment, end of period	10,552	10,854	3,911
Furniture, Fixture and Equipment [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	21,239	12,010
Additions	4,012	4,448
Transfer from CWIP	101	440
Transfers from right of use asset		4,434
Foreign exchange movements	(928)	(83)
Disposal		(10)
Property, plant and equipment, end of period	24,424	21,239	12,010
Furniture, Fixture and Equipment [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(10,385)	(8,099)
Charge for the year	(3,487)	(2,296)
Disposal		10
Property, plant and equipment, end of period	(13,872)	(10,385)	(8,099)
Computer Equipment [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	11,231	4,913
Property, plant and equipment, end of period	13,926	11,231	4,913
Computer Equipment [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	53,730	41,805
Additions	12,295	10,287
Transfer from CWIP		53
Transfers from right of use asset		1,629
Foreign exchange movements	(778)	30
Disposal	(245)	(74)
Property, plant and equipment, end of period	65,002	53,730	41,805
Computer Equipment [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(42,499)	(36,892)
Charge for the year	(8,822)	(5,681)
Disposal	245	74
Property, plant and equipment, end of period	(51,076)	(42,499)	(36,892)
Vehicles [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	224
Property, plant and equipment, end of period	216	224
Vehicles [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	578	333
Additions		298
Transfer from CWIP	29
Transfers from right of use asset	50
Foreign exchange movements		(11)
Disposal	(92)	(42)
Property, plant and equipment, end of period	565	578	333
Vehicles [Member] \| Accumulated Amortization [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	(354)	(333)
Charge for the year	(79)	(53)
Disposal	84	32
Property, plant and equipment, end of period	(349)	(354)	(333)
Assets Under Construction [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	1,092	741
Property, plant and equipment, end of period	1,355	1,092	741
Assets Under Construction [Member] \| Cost [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment, beginning of period	1,092	741
Additions	1,355	1,092
Transfer from CWIP	(1,092)	(741)
Property, plant and equipment, end of period	$ 1,355	$ 1,092	$ 741

PROPERTY AND EQUIPMENT - Right of Use Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	$ 75,875	$ 71,243
Additions	23,922	30,250
Disposal - net of depreciation	(441)	(3,564)
Transferred to owned	(404)	(7,186)
Foreign exchange movements	(4,871)	1,752
Depreciation charge for the year	(16,439)	(16,620)
Right-of-use assets, Ending balance	77,642	75,875
Facility Leases [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	74,748	61,276
Additions	23,470	29,388
Disposal - net of depreciation	(441)	(3,207)
Foreign exchange movements	(4,843)	1,220
Depreciation charge for the year	(15,967)	(13,929)
Right-of-use assets, Ending balance	76,967	74,748
Leasehold Improvements [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	439	1,507
Additions		576
Transferred to owned	(354)	(1,123)
Foreign exchange movements		79
Depreciation charge for the year	(60)	(600)
Right-of-use assets, Ending balance	25	439
Furniture, Fixture and Equipment [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance		5,085
Additions		177
Transferred to owned		(4,434)
Foreign exchange movements		254
Depreciation charge for the year		(1,082)
Computer Equipment [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	432	2,961
Additions		109
Disposal - net of depreciation		(349)
Transferred to owned		(1,629)
Foreign exchange movements		180
Depreciation charge for the year	(236)	(840)
Right-of-use assets, Ending balance	196	432
Vehicles [Member]
Right-of-use assets [Abstract]
Right-of-use assets, Beginning balance	256	414
Additions	452
Disposal - net of depreciation		(8)
Transferred to owned	(50)
Foreign exchange movements	(28)	19
Depreciation charge for the year	(176)	(169)
Right-of-use assets, Ending balance	$ 454	$ 256

PROPERTY AND EQUIPMENT - Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Lease liabilities [Abstract]
Total lease liabilities	$ 89,709	$ 83,999
Current	13,705	12,121
Non Current	$ 76,004	$ 71,878

PROPERTY AND EQUIPMENT - Description of Lease Activities, Other Lease Disclosures and Security Interest on Property and Equipment (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2022 USD ($) lease	Jun. 30, 2021 USD ($) lease	Jun. 30, 2020 USD ($)
Other lease disclosures [Abstract]
Interest expense on lease liabilities	$ 7,400	$ 7,300
Expense incurred relating to short-term leases	200	200
Expense relating to other variable lease payments	0
Lease payments	13,379	17,489	$ 12,162
Amount of impact of IFRS 16 on lease payments	$ 13,400	$ 17,500
Number of leases related to right of use assets \| lease	117	91
Number of new leases \| lease	46	13
Number of disposal leases \| lease	20	16
Security Interest on property and equipment [Abstract]
Assets pledged as security	$ 19,900	$ 11,800
Bottom of Range [Member]
Description of lease activities [Abstract]
Leases term	3 years
Operating leases term	2 years
Top of Range [Member]
Description of lease activities [Abstract]
Leases term	7 years
Operating leases term	12 years

INVESTMENT IN JOINT VENTURE (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2016	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Investments in joint ventures [Abstract]
Market value of the investment		$ 400	$ 300	$ 300
Opening balance		258	331	227
Dividend received during the year		(1,027)	(650)	(430)
Share of profit for the year		1,151	577	534
Ending balance		382	258	331
Other Operating Costs [Member]
Investments in joint ventures [Abstract]
Share of profit for the year		$ 1,200	$ 600	$ 500
Lake Ball LLC [Member]
Investments in joint ventures [Abstract]
Ownership interest	47.50%	47.50%	47.50%

INVESTMENT IN JOINT VENTURE - Summary of Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Investments in joint ventures [Abstract]
Revenue	$ 493,572	$ 443,662	$ 405,135
Net income	22,990	2,847	7,770
Other comprehensive income	(1,807)	54	(950)
Total Comprehensive income / (loss) for the year	21,183	2,901	6,820
Lake Ball LLC [Member]
Investments in joint ventures [Abstract]
Revenue	6,455	4,342	3,152
Net income	1,792	1,215	1,124
Total Comprehensive income / (loss) for the year	$ 1,792	$ 1,215	$ 1,124

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2021-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2021-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2021-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 24
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2021-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
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-Paragraph 32
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2021-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2021-03-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2021-01-01
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-Subparagraph e
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-URIDate 2021-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2023-01-01
-Name IFRS
-Number 17
-IssueDate 2021-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2021-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2021-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B10
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2021-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
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-Paragraph 106
-Subparagraph d
-Clause i
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-URIDate 2021-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2021-03-24

+ Details

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2021-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2021-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_32&doctype=Standard
-URIDate 2021-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
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-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2021-03-24

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_34&doctype=Standard
-URIDate 2021-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 82
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2021-03-24

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_103&doctype=Standard
-URIDate 2021-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_102&doctype=Standard
-URIDate 2021-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2021-01-01
-Paragraph 33
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2021-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2021-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2021-03-24

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2021-03-24

+ Details

OTHER NON-CURRENT ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
OTHER NON-CURRENT ASSETS.
Deposits	$ 3,716	$ 3,715
Prepayments	144	633
Other	730	891
Other Assets	$ 4,590	$ 5,239

TRADE AND OTHER RECEIVABLES (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Trade receivables
Trade receivables - gross	$ 76,708	$ 69,715	$ 55,862
Less: Allowance for credit losses	(1,290)	(2,301)	$ (1,877)
Trade receivables - net	75,418	67,414
Less: receivables attributable to related parties, net	(95)	(725)
Trade receivables - net closing balance	75,323	66,689
Other receivables
Prepayments	7,135	5,281
Advance tax	2,025	4,233
VAT/Sales Tax receivables	4,365	2,947
Other receivables	3,742	1,223
Deposits	840	731
Other receivables	18,107	14,415
Trade and other receivables	$ 93,430	$ 81,104

TRADE AND OTHER RECEIVABLES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Allowance for credit losses
Opening balance	$ 2,301	$ 1,877
Foreign exchange movements	(250)	133
Loss allowance recognized during the year	(761)	291	$ 224
Closing balance	$ 1,290	$ 2,301	$ 1,877

CASH AND CASH EQUIVALENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
CASH AND CASH EQUIVALENTS
current accounts	$ 46,675	$ 55,258
deposit accounts (with a maturity of 3 months or less at inception)	2,131	2,559
Balances with banks	48,806	57,817
Cash in hand	25	25
Cash and cash equivalents	$ 48,831	$ 57,842	$ 21,870	$ 8,873

DEFERRED REVENUE (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
DEFERRED REVENUE.
Deferred revenue	$ 12,593	$ 7,087	$ 3,904
Less: current portion of deferred revenue	(8,600)	(4,077)
Non-current portion of deferred revenue	$ 3,993	$ 3,010

REVENUE - Movement in Deferred Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
DEFERRED REVENUE.
Less: current portion of deferred revenue	$ (8,600)	$ (4,077)
Noncurrent portion of deferred revenue	$ 3,993	$ 3,010

SHARE CAPITAL AND OTHER RESERVES (Details) $ / shares in Units, $ in Thousands, ₨ in Millions		12 Months Ended
	Aug. 07, 2020 $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2021 PKR (₨) shares	Jun. 30, 2020 USD ($)
Changes in equity [Abstract]
Number of shares authorized (in shares)		108,057,967	108,057,967
Par value per share (in dollars per share) \| $ / shares		$ 0.0001	$ 0.0001
Number of shares issued (in shares)		18,246,391	18,399,063
Number of shares outstanding (in shares)		18,246,391	18,399,063
Series A will convert to Series C, number of shares (in shares)			1	1
Series B will convert to Series C, number of shares (in shares)			1
Series C will convert to Class A, number of shares (in shares)			1.158
Class B will convert to Class A, number of shares (in shares)			1
Class B and Class A shares combined into common shares			1	1
Additional paid-in capital \| $		$ 154,786	$ 158,157
Purchase of treasury shares		3,406		₨ 0.0
Accumulated deficit \| $		(87,690)	(110,680)
Profit for the year \| $		$ 22,990	2,847		$ 7,770
IPO [Member]
Changes in equity [Abstract]
Par value per share (in dollars per share) \| $ / shares	$ 19
Number of shares issued (in shares)	4,761,905
Offering proceeds before expenses \| $			63,100
Proceeds after deducting underwriting discounts and commissions \| $			$ 1,600
IPO [Member] \| The Resource Group International Limited [Member]
Changes in equity [Abstract]
Number of shares issued (in shares)	1,190,476
Common Shares [Member]
Changes in equity [Abstract]
Number of shares converted	1,674,017		14,119,384	14,119,384
Series A Convertible Preference Shares [Member] \| IPO [Member]
Changes in equity [Abstract]
Additional number of shares in offering (in shares)	3,571,429

BORROWINGS (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
BORROWINGS
Long-term other borrowings	$ 3,825	$ 6,205
Line of credit	11,202	22,312
Total borrowings	15,027	28,517
Less: Current portion of:
long-term other borrowings	(3,487)	(4,404)
line of credit	(11,202)	(22,312)
Less: Current portion of borrowings	(14,689)	(26,716)
Non-current portion of borrowings	$ 338	$ 1,801

BORROWINGS - Long-term Other Borrowings (Details) $ in Thousands, ₨ in Millions	1 Months Ended				12 Months Ended
	Jan. 31, 2022 USD ($)	May 31, 2020 USD ($)	Mar. 31, 2020 USD ($) installment	Jan. 31, 2018 USD ($) installment	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	May 31, 2020 PKR (₨)	Oct. 31, 2019 USD ($) installment	Nov. 30, 2018 USD ($) installment
Long-term other borrowings [Abstract]
Long-term other borrowings					$ 3,825	$ 6,205
Less: Current portion of long-term other borrowings					(3,487)	(4,404)
Non-current portion of long term other borrowings					338	1,801
Financed amount					1,000	2,700
IBM Credit LLC [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings						180
Hewlett-Packard Financial Services Co. [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					155	511
IPFS Corporation [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					1,696	1,008
First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					1,626	3,149
JS Bank Limited [Member]
Long-term other borrowings [Abstract]
Long-term other borrowings					$ 348	1,357
Bottom of Range [Member]
Long-term other borrowings [Abstract]
Interest rate					5.40%
Bottom of Range [Member] \| IPFS Corporation [Member]
Long-term other borrowings [Abstract]
Interest rate					4.60%
Top of Range [Member]
Long-term other borrowings [Abstract]
Interest rate					9.76%
Top of Range [Member] \| IPFS Corporation [Member]
Long-term other borrowings [Abstract]
Interest rate					5.00%
LIBOR [Member]. \| Bottom of Range [Member] \| PNC Term Loan [Member]
Long-term other borrowings [Abstract]
Interest rate					(0.50%)
LIBOR [Member]. \| Top of Range [Member] \| PNC Term Loan [Member]
Long-term other borrowings [Abstract]
Interest rate					1.75%
IBEX Global Jamaica Limited [Member]
Long-term other borrowings [Abstract]
Non-revolving demand loan			$ 600
Number of equal monthly installments for repayment of debt \| installment			36
Credit facility term			30 months
IBEX Global Jamaica Limited [Member] \| First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Interest rate	6.00%
Non-revolving demand loan	$ 500		$ 2,000	$ 1,400				$ 800	$ 1,200
Maturity date				January 31, 2023
Number of equal monthly installments for repayment of debt \| installment			36	54				36	60
Credit facility term	36 months		30 months
Additional credit facility term	24 months
IBEX Global Jamaica Limited [Member] \| January 2018 [Member]
Long-term other borrowings [Abstract]
Financed amount					$ 200	500
IBEX Global Jamaica Limited [Member] \| November 2018 [Member]
Long-term other borrowings [Abstract]
Financed amount					400	700
IBEX Global Jamaica Limited [Member] \| October 2019 [Member]
Long-term other borrowings [Abstract]
Financed amount					100	400
IBEX Global Jamaica Limited [Member] \| March 2020 [Member]
Long-term other borrowings [Abstract]
Financed amount					200	400
IBEX Global Jamaica Limited [Member] \| March 2020 [Member] \| First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Financed amount					$ 700	1,200
IBEX Global Jamaica Limited [Member] \| Fixed Interest Rate [Member]
Long-term other borrowings [Abstract]
Interest rate			7.00%
IBEX Global Jamaica Limited [Member] \| Fixed Interest Rate [Member] \| First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Interest rate			7.00%	7.00%				7.00%
IBEX Global Jamaica Limited [Member] \| LIBOR [Member]. \| First Global Bank Limited Demand loan [Member]
Long-term other borrowings [Abstract]
Interest rate									5.26%
Maturity date					P6M
Interest rate floor									7.00%
Ibex Global Solutions, Inc. [Member] \| JS Bank Limited [Member]
Long-term other borrowings [Abstract]
Financed amount					$ 200	800
Interest rate		3.00%					3.00%
Non-revolving demand loan		$ 1,000					₨ 165
Credit facility term		2 years
Virtual World (Private) Limited [Member] \| JS Bank Limited [Member]
Long-term other borrowings [Abstract]
Financed amount					$ 100	$ 600
Interest rate		3.00%					3.00%
Non-revolving demand loan		$ 800					₨ 120
Credit facility term		2 years

BORROWINGS - Line of Credit (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2011	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	May 31, 2019	Dec. 31, 2018	Jun. 30, 2015	Nov. 30, 2013
Disclosure of detailed information about borrowings [abstract]
Line of credit		$ 11,202	$ 22,312
Amount drawn			1,714	$ 1,000
PNC Bank, N.A. [Member]
Disclosure of detailed information about borrowings [abstract]
Line of credit		$ 11,202	$ 22,312
PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility amount							$ 45,000	$ 40,000
Credit facility incremental availability								$ 10,000
Maturity date		May 31, 2020
Amended PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility amount		$ 80,000			$ 60,000	$ 50,000
Contingent increase aggregate maximum borrowing capacity		$ 95,000
Credit facility incremental availability						5,000
Maturity date		May 31, 2023
Credit facility additional borrowing						$ 10,000
Top of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate		9.76%
Top of Range [Member] \| LIBOR [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate		1.75%
Bottom of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate		5.40%
Bottom of Range [Member] \| LIBOR [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate		(0.50%)
Ibex Global Solutions, Inc. [Member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Credit facility term		3 years
Credit facility amount									$ 35,000
Ibex Global Solutions, Inc. [Member] \| Citibank Receivables Financing Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate								1.40%
Average discount of net sales		0.17%	0.17%
Discount acceptance period		360 days
iSky, Inc. [Member] \| Seacoast Receivables Financing Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Percentage of discount on payment to subsidiary	1.00%
Percentage of additional discount payment to subsidiary	0.50%
Additional period accounts receivables outstanding		15 days
Average discount of net sales			1.80%
Monthly sales of receivable	$ 200
Automatic renewed agreement period		12 months
iSky, Inc. [Member] \| LIBOR [Member] \| Seacoast Receivables Financing Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	7.00%
iSky, Inc. [Member] \| Top of Range [Member] \| Seacoast Receivables Financing Agreement [Member]
Disclosure of detailed information about borrowings [abstract]
Payment to subsidiary	$ 1,500
Accounts receivables outstanding period		30 days
Percentage of advance payment to subsidiary	85.00%

BORROWINGS - Changes in Liabilities Arising from Financing Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Changes in liabilities arising from financing activities
Balance of debt, beginning	$ 112,516	$ 105,970	$ 118,253
Changes from operating cash flows	3,894	(827)	(3,379)
Changes from financing cash flows, net	(29,906)	(26,018)	(33,746)
New assets	24,072	31,790	24,295
Foreign exchange movement	(5,840)	1,601	547
Balance of debt, ending	$ 104,736	$ 112,516	$ 105,970

OTHER NON-CURRENT LIABILITIES (Details) $ in Thousands	12 Months Ended
OTHER NON-CURRENT LIABILITIES (Details) $ in Thousands	Jun. 30, 2022 USD ($) subsidiary	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
OTHER NON-CURRENT LIABILITIES.
Defined benefit scheme	$ 830	$ 950
Warrant liability	4,847	7,784
Phantom stock plan	667	514
Other	802	1,890
Other non-current liabilities	$ 7,146	$ 11,138
Defined benefit scheme
Number of group subsidiaries \| subsidiary	2
Period of salary that employees are entitled to upon each year of service period under benefit plan	15 days
Minimum period of service to be counted as one year under benefit plan	6 months
Period of salary based on latest salary rate defined as one half month's salary under benefit plan	15 days
Period of service incentive leave defined as one half month's salary under benefit plan	5 days
Percentage of 13 month's pay defined as one half month's salary under benefit plan	8.333%
Retirement age	60 years
Minimum service period required in previously credited service to be entitled benefit plan	5 years
Principal assumptions used for actuarial valuations
Discount rates	6.85%	4.87%
Expected rate of salary increase	3.00%	3.00%
Amounts recognized respect of defined benefit scheme
Current service cost	$ 238	$ 209	$ 100
Interest on obligation	40	19	21
Provision for defined benefit scheme	278	228	121
Defined benefit obligations
Present value of unfunded defined benefit obligation	830	950
Net liability arising from defined benefit obligation	830	950
Movement in present value of the defined benefit obligation
Present value of defined benefit obligation at the beginning of the year	950	677
Foreign exchange movements	(111)	19
Current service cost	238	209	100
Interest on obligation	40	19	21
Actuarial gains	(287)	26	184
Present value of defined benefit obligation at the end of the year	$ 830	950	$ 677
Deferred social security payment		$ 1,100

TRADE AND OTHER PAYABLES (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
TRADE AND OTHER PAYABLES.
Trade creditors	$ 7,754	$ 5,976
Accrued expenses	11,388	11,784
Accrued compensation	32,057	29,678
Cash flow hedges	992	316
Warrant liability	6,464	5,837
Others	1,158	1,272
Trade and other payables	$ 59,813	$ 54,863

CONTINGENCIES AND COMMITMENTS (Details) $ in Thousands			1 Months Ended		3 Months Ended	12 Months Ended
CONTINGENCIES AND COMMITMENTS (Details) $ in Thousands	Nov. 20, 2019 USD ($)	Feb. 28, 2015 individual item case	Aug. 31, 2021 USD ($)	Sep. 30, 2020 USD ($) item	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Mar. 01, 2018 USD ($)	Nov. 27, 2017 USD ($)
Contingencies
Number of cases consolidated \| case		2
Number of individuals who have opted into FLSA class action claims \| individual		3,500
Number of potential class action claimants with pending wage and hour \| item		21,000
Amount funded towards settlement						$ 3,400
Percentage covered of possible claims under the FLSA, plaintiffs' attorney fees, administration costs and service awards						100.00%
Amount allocated to settlement of claims pursuant to settlement agreement						$ 2,200
Claims amount properly and timely returned						1,200
Payment made to qualified settlement fund in full	$ 1,200
Legal fees and expenses						$ 5,609	$ 8,112	$ 6,570
Total settlement					$ 900
Contingencies
Number of telecommunication service commitment of carriers \| item				2
Term of telecommunication service commitment			3 years	3 years
Annual commitment			$ 30	$ 450
Letter of credit renewal period						1 year
PNC Bank [Member] \| Ibex Global Solutions, Inc. [Member]
Contingencies
Irrevocable standby letter of credit issued									$ 500	$ 400

FINANCE EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
FINANCE EXPENSES (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
FINANCE EXPENSES.
Interest on borrowings	$ 1,121	$ 1,756	$ 2,453
Factoring Fees	60	73	186
Finance charges - right of use assets	7,421	7,078	6,457
Bank charges	195	127	332
Total	$ 8,797	$ 9,034	$ 9,428

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Current tax:
Current year	$ 3,324	$ 3,876	$ 1,850
Change in estimates related to prior year	(102)	80	201
Total current tax	3,222	3,956	2,051
Deferred tax:
Origination and reversal of temporary differences	(825)	(2,062)	1,923
Changes in tax rates	(52)	24	270
Recognition of previously unrecognised tax losses	(4,332)		(1,907)
Recognition of previously unrecognised net deductible temporary differences			(22)
Total deferred tax	(5,209)	(2,038)	264
Income tax (benefit) / expense charged to profit or loss	(1,987)	1,918	2,315
Income tax recognized in other comprehensive income related to hedging	(218)	0
Total	(2,205)	1,918	2,315
Deferred tax expense from non-recurring benefit related to change in revenue and related costs recognition under IFRS15 - Revenue from contracts with customers	600
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	17,467	10,354
Taxable temporary differences	(8,002)	(6,188)
Net deferred tax assets	9,465	4,166	2,106
Deferred tax asset	9,465	4,252
Deferred Tax Liability		(86)
Movement in deferred tax assets / (liability) [Abstract]
Opening deferred tax assets	4,166	2,106
Deferred tax benefit for the year	(5,209)	(2,038)	264
Foreign exchange and other rate differences	(128)	22
Deferred tax recognized in other comprehensive income	218	0
Net deferred tax assets	9,465	4,166	$ 2,106
Provisions and Write-offs Against Accounts Receivable [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	74	30
Unpaid Accrued Expenses / Compensation [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	1,319	2,446
Tax credits carry-forward [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	2,454	967
Net Operating Losses [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	5,732	834
Property and Equipment [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	264	385
Taxable temporary differences	(506)	(133)
Lease liability (right of use assets) [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	7,406	5,692
Net unrealized loss on hedging [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Deductible temporary differences	218
Right-of-use Assets [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Taxable temporary differences	(6,297)	(5,097)
Intangible Assets [Member]
Tax effect of deductible / (taxable) temporary differences [Abstract]
Taxable temporary differences	$ (1,199)	$ (958)

INCOME TAXES - Deferred Tax Asset (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Deferred tax asset
Unused tax losses	$ 11,553	$ 26,575
Deductible temporary differences		81
Unused tax losses and deductible differences - unrecognized	11,553	26,656
Operating loss carry forward
Net operating loss carryforward	$ 11,553	$ 26,575
Expiry date	2023
Income tax expense using the applicable tax rate	21.00%	21.00%	21.00%
US Federal [Member]
Deferred tax asset
Unused tax losses	$ 18,900	$ 15,900
Unused tax credits for which no deferred tax asset recognised	2,500	1,000
Operating loss carry forward
Net operating loss carryforward	$ 18,900	15,900
Expiry date	2039
State [Member]
Deferred tax asset
Unused tax losses	$ 32,200	36,700
Operating loss carry forward
Net operating loss carryforward	$ 32,200	36,700
Expiry date	2029
Canadian Subsidiary [Member]
Deferred tax asset
Unused tax losses	$ 2,200	2,300
Operating loss carry forward
Net operating loss carryforward	2,200	2,300
UK and European Subsidiaries [Member]
Deferred tax asset
Unused tax losses	6,500	4,300
Operating loss carry forward
Net operating loss carryforward	6,500	4,300
Luxembourg Subsidiary [Member]
Deferred tax asset
Unused tax losses	1,100	1,200
Operating loss carry forward
Net operating loss carryforward	$ 1,100	1,200
Expiry date	2037
Senegal [Member]
Deferred tax asset
Unused tax losses	$ 1,800	2,700
Operating loss carry forward
Net operating loss carryforward	$ 1,800	$ 2,700

INCOME TAXES - Reconciliation of Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Reconciliation of effective tax rate
Net income for the year	$ 22,990	$ 2,847	$ 7,770
Income tax (benefit) / expense	(1,987)	1,918	2,315
Total income before taxation	21,003	4,765	10,085
Reconciliation of effective tax rate
Income tax expense using the applicable tax rate	4,411	1,001	2,118
State taxes (net of federal tax effect)	637	349	1,303
Effect of tax and exchange rates in foreign jurisdictions	(52)	175	(776)
Foreign subsidiaries taxed at lower rate or tax exempt	(1,734)	1,064	191
Non-deductible expenses / exempt income	284	256	328
Employment and other tax credits	(1,487)	(967)	0
Prior year provision / other items	(117)	(180)	(320)
Unrecognized losses utilized during the year	(136)	0	1,018
Change in unrecognized temporary differences	(3,793)	220	(1,547)
Income tax (benefit) / expense charged to profit or loss	$ (1,987)	$ 1,918	$ 2,315
Reconciliation of effective tax rate (Percent)
Income tax expense using the applicable tax rate	21.00%	21.00%	21.00%
State taxes (net of federal tax effect)	3.00%	7.30%	12.90%
Effect of tax and exchange rates in foreign jurisdictions	(0.20%)	3.70%	(7.70%)
Foreign subsidiaries taxed at lower rate or tax exempt	(8.30%)	22.30%	1.90%
Non-deductible expenses / exempt income	1.40%	5.40%	3.30%
Employment and other tax credits	(7.10%)	(20.30%)	0.00%
Prior year provision / other items	(0.60%)	(3.80%)	(3.20%)
Unrecognized losses utilized during the year	(0.60%)	0.00%	10.10%
Change in unrecognized temporary differences	(18.10%)	4.60%	(15.30%)
Total	(9.50%)	40.20%	23.00%

SHARE BASED COMPENSATION PLANS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Expense [Abstract]
Share-based payments	$ 1,851	$ 4,521	$ 359
Phantom Stock Plan [Member]
Share-based Payment Expense [Abstract]
Share-based payments	33	851	(31)
Equity Settled
Share-based Payment Expense [Abstract]
Share-based payments	1,818	3,670	390
2018 Restricted Stock Awards (RSA) [Member]
Share-based Payment Expense [Abstract]
Share-based payments	6	45	95
2020 Long Term Incentive Plan [Member]
Share-based Payment Expense [Abstract]
Share-based payments	$ 1,812	$ 3,625	$ 295

SHARE BASED COMPENSATION PLANS - 2017 IBEX Stock Plan (Details)	12 Months Ended
	Jun. 30, 2022 EquityInstruments USD ($) $ / shares shares	Jun. 30, 2021 EquityInstruments shares
SHARE BASED COMPENSATION PLANS [Abstract]
Number of shares authorized (in shares) \| shares	108,057,967	108,057,967
Granted (in shares) \| EquityInstruments	819,644	525,143
Estimated fair value of common shares (in dollars per share) \| $ / shares	$ 16.87
Expected term \| $	5.37
Volatility	33.80%
Risk-free rate	3.00%

SHARE BASED COMPENSATION PLANS - Phantom Stock Plans (Details)	1 Months Ended					12 Months Ended
	Feb. 28, 2021	Feb. 28, 2021 shares	Feb. 28, 2021 USD ($)	Feb. 28, 2021	Feb. 28, 2021 $ / shares	Jun. 30, 2022 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2021 USD ($) EquityInstruments $ / shares	Jun. 30, 2020 USD ($) $ / shares
Phantom Stock Plans [Abstract]
Granted (in shares) \| EquityInstruments						819,644	525,143
Estimated fair value of common shares (in dollars per share) \| $ / shares						$ 16.87
Expected term						5.37
Volatility						33.80%
Risk-free rate						3.00%
Options outstanding and exercisable [Abstract]
Share-based payments						$ 1,851,000	$ 4,521,000	$ 359,000
Intrinsic value of stock options						0
Liability under stock option						$ 667,000	$ 514,000
Phantom Stock Plan [Member]
Phantom Stock Plans [Abstract]
Granted (in shares)			167,935		20.86	0
Options, vested (in shares) \| shares		5,335
Options vested percentage				25.00%
Option, vesting term	36 months
Weighted average exercise price of options granted (in dollars per share) \| $ / shares							$ 20.86
Estimated fair value of common shares (in dollars per share) \| $ / shares						$ 16.87
Weighted average exercise prices [Abstract]
Option outstanding as beginning of the period (in dollars per share) \| $ / shares						18.01	6.81
Options granted during the period (in dollars per share) \| $ / shares							20.86
Options exercised during the period (in dollars per share) \| $ / shares						6.81	6.81
Options forfeited / cancelled / expired during the period (in dollars per share) \| $ / shares						20.86
Options outstanding as of end of the period (in dollars per share) \| $ / shares						18.91	18.01	$ 6.81
Options exercisable as of end of the period (in dollars per share) \| $ / shares						$ 17.92	$ 12.90
Number of Options [Abstract]
Options outstanding as of beginning of the period (in shares)						210,740	54,575
Options granted during the period (in shares)							167,935
Options exercised during the period (in shares)						(16,743)	(11,770)
Options forfeited / cancelled / expired during the period (in shares) \| shares						(6,324)
Options outstanding as of end of the period (in shares)						187,673	210,740	54,575
Options exercisable as of end of the period (in shares)						124,353	95,660
Options outstanding and exercisable [Abstract]
Options outstanding, number (in shares)						187,673	210,740	54,575
Options outstanding, weighted average exercise price (in dollars per share) \| $ / shares						$ 18.91	$ 18.01	$ 6.81
Options exercisable, number (in shares)						124,353	95,660
Options exercisable, weighted average exercise price (in dollars per share) \| $ / shares						$ 17.92	$ 12.90
Weighted average fair value of options (in dollars per share) \| $ / shares						$ 5.59	$ 13.84
Share-based payments						$ 33,000	$ 851,000	$ (31,000)
Unrecognized compensation expense						$ 300,000
Period for recognition of compensation expense						21 months
Phantom Stock Plan [Member] \| Non Current Liabilities
Options outstanding and exercisable [Abstract]
Liability under stock option						$ 700,000
Phantom Stock Plan [Member] \| Trade Payables
Options outstanding and exercisable [Abstract]
Liability under stock option						$ 300,000
Phantom Stock Plan [Member] \| Bottom of Range [Member]
Phantom Stock Plans [Abstract]
Expected term						0.65
Volatility						32.64%
Risk-free rate						3.01%
Fair value of share options granted (in dollars per share) \| $ / shares						$ 4.68
Phantom Stock Plan [Member] \| Top of Range [Member]
Phantom Stock Plans [Abstract]
Expected term						1.75
Volatility						37.19%
Risk-free rate						3.03%
Fair value of share options granted (in dollars per share) \| $ / shares						$ 10.20
Ibex Global Solutions Philippines Inc [Member]
Options outstanding and exercisable [Abstract]
Number Of Options Available For Issuance \| shares						400,000
Ibex Global Jamaica Limited [Member]
Options outstanding and exercisable [Abstract]
Number Of Options Available For Issuance \| shares						200,000

SHARE BASED COMPENSATION PLANS - 2018 Restricted Stock Award Program (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2018 USD ($)	Jun. 30, 2022 EquityInstruments USD ($) $ / shares shares	Jun. 30, 2021 EquityInstruments $ / shares shares	Jun. 30, 2020
SHARE BASED COMPENSATION PLANS [Abstract]
Number of shares authorized (in shares) \| shares		108,057,967	108,057,967
Par value per share (in dollars per share)		$ 0.0001	$ 0.0001
Granted (in shares) \| EquityInstruments		819,644	525,143
Vested (in shares) \| EquityInstruments		2,716	1,442
Fair value of common shares (in dollars per share)		$ 16.87
Expected term \| $		5.37
Volatility		33.80%
Risk-free rate		3.00%
2018 Restricted Stock Awards (RSA) [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Granted (in shares) \| $	2,373,374
Vested (in shares) \| $	721,596
Fair value of common shares (in dollars per share)		$ 0.61
Expected term		3.84
Volatility		26.00%
Risk-free rate				2.87%
2018 Restricted Stock Awards (RSA) [Member] \| Class B ordinary shares [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Number of shares authorized (in shares) \| shares		2,559,323.13
Par value per share (in dollars per share)		$ 0.000111650536
2018 Restricted Stock Awards (RSA) [Member] \| Bottom of Range [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vested term		13 months
2018 Restricted Stock Awards (RSA) [Member] \| Top of Range [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vested term		4 years

SHARE BASED COMPENSATION PLANS - 2018 RSA Plan, Non-Executive Management (Details)	1 Months Ended						12 Months Ended
	Jun. 30, 2021 EquityInstruments USD ($) $ / shares shares	Feb. 28, 2021 $ / shares	Jan. 31, 2021 EquityInstruments $ / shares	Dec. 31, 2020 $ / shares	Aug. 31, 2020 EquityInstruments $ / shares	Dec. 31, 2018 USD ($)	Jun. 30, 2022 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2021 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2020 USD ($) EquityInstruments $ / shares
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share) \| $ / shares							$ 16.70	$ 12.75
Granted during the period (in dollars per share) \| $ / shares							17.39	19.23
Exercised during the period (in dollars per share) \| $ / shares							12.75	19.00
Forfeited / cancelled / expired during the period (in dollars per share) \| $ / shares							19.28	15.96
Outstanding as of end of the period (in dollars per share) \| $ / shares	$ 16.70						$ 16.42	$ 16.70	$ 12.75
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| EquityInstruments							845,918	338,432
Granted during the period (in shares) \| EquityInstruments							819,644	525,143
Exercised during the period (in shares) \| EquityInstruments							(2,716)	(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares							(200,453)	(16,215)
Outstanding as of end of the period (in shares) \| EquityInstruments	845,918						1,462,393	845,918	338,432
Share-based payments \| $							$ 1,851,000	$ 4,521,000	$ 359,000
2018 Restricted Stock Awards (RSA) [Member]
Number [Abstract]
Granted during the period (in shares) \| $						2,373,374
Exercised during the period (in shares) \| $						(721,596)
Share-based payments \| $							$ 6,000	$ 45,000	$ 95,000
2018 Restricted Stock Awards (RSA) [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term							13 months
2018 Restricted Stock Awards (RSA) [Member] \| Top of Range [Member]
Number [Abstract]
Vested term							4 years
2018 RSA Plan - Non-Executive Management [Member]
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share) \| $ / shares							$ 0.61	$ 0.61
Granted during the period (in dollars per share) \| $ / shares								0.61
Forfeited / cancelled / expired during the period (in dollars per share) \| $ / shares							0.61	0.61
Outstanding as of end of the period (in dollars per share) \| $ / shares	$ 0.61						0.61	0.61	$ 0.61
Vested as of end of the period (in dollars per share) \| $ / shares	$ 0.61						$ 0.61	$ 0.61
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| $							638,385	650,193
Granted during the period (in shares) \| $						928,124			280
Forfeited / cancelled / expired during the period (in shares) \| shares							(3,013)	(12,088)
Outstanding as of end of the period (in shares) \| $	638,385						635,372	638,385	650,193
Option vested (in shares) \| shares	587,756						626,966	587,756
Percentage of outstanding shares vested							98.70%	92.10%
Share-based payments \| $							$ 10,000.00	$ 30,000.00
2018 RSA Plan - Non-Executive Management [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term							13 months
2018 RSA Plan - Non-Executive Management [Member] \| Top of Range [Member]
Number [Abstract]
Vested term							4 years
2020 Long Term Incentive Plan [Member]
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share) \| $ / shares	$ 18.72	$ 20.86	$ 18.82	$ 19.85	$ 19.0
Number [Abstract]
Granted during the period (in shares) \| EquityInstruments	27,800		20,000		341,843			23,500
Exercised during the period (in shares) \| $								(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares								16,215
Vested term	36 months			36 months	24 months
Share-based payments \| $							$ 1,812,000	$ 3,625,000	$ 295,000
Unrecognized compensation expense \| $							$ 9,500,000
Period for recognition of compensation expense							66 months

SHARE BASED COMPENSATION PLANS - 2018 RSA Plan Non-Performance, Executive Leadership Team (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2018 EquityInstruments USD ($)	Jun. 30, 2022 EquityInstruments USD ($) $ / shares shares	Jun. 30, 2021 EquityInstruments USD ($) $ / shares shares
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)		$ 16.70	$ 12.75
Granted during the period (in dollars per share)		17.39	19.23
Exercised during the period (in dollars per share)		12.75	19.00
Forfeited / cancelled / expired during the period (in dollars per share)		19.28	15.96
Outstanding as of end of the period (in dollars per share)		$ 16.42	$ 16.70
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| EquityInstruments		845,918	338,432
Granted during the period (in shares) \| EquityInstruments		819,644	525,143
Exercised during the period (in shares) \| EquityInstruments		(2,716)	(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares		(200,453)	(16,215)
Outstanding as of end of the period (in shares) \| EquityInstruments		1,462,393	845,918
Bottom of Range [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Interest rate		5.40%
Top of Range [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Interest rate		9.76%
2018 Restricted Stock Awards (RSA) [Member]
Number [Abstract]
Granted during the period (in shares) \| $	2,373,374
Exercised during the period (in shares) \| $	(721,596)
2018 Restricted Stock Awards (RSA) [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term		13 months
2018 Restricted Stock Awards (RSA) [Member] \| Top of Range [Member]
Number [Abstract]
Vested term		4 years
2018 RSA Plan Non-Performance - Executive Leadership Team [Member]
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)		$ 0.61	$ 0.61
Outstanding as of end of the period (in dollars per share)		0.61	0.61
Vested as of end of the period (in dollars per share)		$ 0.61	$ 0.61
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| $		918,719	918,719
Granted during the period (in shares) \| EquityInstruments	970,893
Outstanding as of end of the period (in shares) \| $		918,719	918,719
Option vested (in shares) \| shares		918,719	844,452
Percentage of outstanding shares vested		100.00%	91.90%
2018 RSA Plan Non-Performance - Executive Leadership Team [Member] \| Bottom of Range [Member]
Number [Abstract]
Vested term		24 months
2018 RSA Plan Non-Performance - Executive Leadership Team [Member] \| Top of Range [Member]
Number [Abstract]
Vested term		4 years
2018 RSA Plan Non-Performance - Executive Leadership Team [Member] \| Promissory Note [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Interest rate		3.00%
Percentage of note in recourse portion		50.00%
Percentage of note in non-recourse portion		50.00%

SHARE BASED COMPENSATION PLANS - 2018 RSA Plan Performance, Executive Leadership Team (Details)				1 Months Ended							12 Months Ended
	May 20, 2020 shares	Jan. 28, 2020 shares	Dec. 31, 2019 $ / shares shares	Jun. 30, 2021 EquityInstruments USD ($) $ / shares shares	Feb. 28, 2021 $ / shares	Jan. 31, 2021 EquityInstruments $ / shares	Dec. 31, 2020 $ / shares	Aug. 31, 2020 EquityInstruments $ / shares	Dec. 31, 2019 shares	Dec. 31, 2018 USD ($)	Jun. 30, 2022 EquityInstruments USD ($) $ / shares shares	Jun. 30, 2021 EquityInstruments USD ($) $ / shares shares
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)											$ 16.70	$ 12.75
Granted during the period (in dollars per share)											17.39	19.23
Exercised during the period (in dollars per share)											12.75	19.00
Forfeited / cancelled / expired during the period (in dollars per share)											19.28	15.96
Outstanding as of end of the period (in dollars per share)				$ 16.70							$ 16.42	$ 16.70
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| EquityInstruments											845,918	338,432
Granted during the period (in shares) \| EquityInstruments											819,644	525,143
Exercised during the period (in shares) \| EquityInstruments											(2,716)	(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares											(200,453)	(16,215)
Outstanding as of end of the period (in shares) \| EquityInstruments				845,918							1,462,393	845,918
2018 Restricted Stock Awards (RSA) [Member]
Number [Abstract]
Granted during the period (in shares) \| $										2,373,374
Exercised during the period (in shares) \| $										(721,596)
2018 Restricted Stock Awards, Performance - Executive Leadership Team [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Number of shares to be allocated upon successful completion of IPO (in shares) \| shares			170,680
Number of shares to be allocated upon meeting specific revenue and EBITDA targets (in shares) \| shares			10,000
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)											$ 0.61	$ 0.61
Outstanding as of end of the period (in dollars per share)				$ 0.61							0.61	0.61
Vested as of end of the period (in dollars per share)				$ 0.61							$ 0.61	$ 0.61
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| $											272,748	272,748
Outstanding as of end of the period (in shares) \| $				272,748							272,748	272,748
Option vested (in shares) \| shares				207,961							245,862	207,961
Percentage of outstanding shares vested											90.10%	76.30%
2018 Restricted Stock Awards, Performance - Executive Leadership Team [Member] \| Class A Common Shares [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Number of shares to be allocated upon average price per share equaling or exceeding threshold price (in shares) \| shares			103,264						103,264
2018 Restricted Stock Awards, Performance - Executive Leadership Team [Member] \| Class A Common Shares [Member] \| Bottom of Range [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Average price per share (in dollars per share)			$ 17.42
2020 RSA Amendments [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Number of shares to be allocated upon average price per share equaling or exceeding threshold price (in shares) \| shares											78,264
Number [Abstract]
Number of shares to achieve performance triggers (in shares) \| shares		67,176
2020 Long Term Incentive Plan [Member]
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share)				$ 18.72	$ 20.86	$ 18.82	$ 19.85	$ 19.0
Number [Abstract]
Granted during the period (in shares) \| EquityInstruments				27,800		20,000		341,843				23,500
Exercised during the period (in shares) \| $												(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares												16,215
Number of remaining shares transferred to other plan (in shares) \| shares	707,535

SHARE BASED COMPENSATION PLANS - 2020 Long Term Incentive Plan (Details)		1 Months Ended										12 Months Ended
	Jan. 14, 2022 shares	Apr. 30, 2022 USD ($)	Feb. 28, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Nov. 30, 2021 USD ($) $ / shares	Aug. 31, 2021 EquityInstruments USD ($) $ / shares	Jun. 30, 2021 EquityInstruments $ / shares shares	Feb. 28, 2021 EquityInstruments $ / shares	Jan. 31, 2021 EquityInstruments $ / shares shares	Dec. 31, 2020 EquityInstruments $ / shares shares	Aug. 31, 2020 EquityInstruments $ / shares	Jun. 30, 2022 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2021 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2020 USD ($) EquityInstruments $ / shares
SHARE BASED COMPENSATION PLANS [Abstract]
Number of shares authorized (in shares) \| shares							108,057,967					108,057,967	108,057,967
Fair value of common shares (in dollars per share)												$ 16.87
Expected term \| $												5.37
Volatility												33.80%
Risk-free rate												3.00%
Granted during the period (in shares) \| EquityInstruments												819,644	525,143
Grant Date Fair Market Value [Abstract]
Outstanding as of beginning of the period (in dollars per share)												$ 16.70	$ 12.75
Granted during the period (in dollars per share)												17.39	19.23
Exercised during the period (in dollars per share)												12.75	19.00
Forfeited / cancelled / expired during the period (in dollars per share)												19.28	15.96
Outstanding as of end of the period (in dollars per share)							$ 16.70					16.42	16.70	$ 12.75
Exercisable as of end of period (in dollars per share)							$ 16.97					$ 16.83	$ 16.97
Number [Abstract]
Outstanding as of beginning of the period (in shares) \| EquityInstruments												845,918	338,432
Granted during the period (in shares) \| EquityInstruments												819,644	525,143
Exercised during the period (in shares) \| EquityInstruments												(2,716)	(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares												(200,453)	(16,215)
Outstanding as of end of the period (in shares) \| EquityInstruments							845,918					1,462,393	845,918	338,432
Exercisable as of end of the period (in shares) \| EquityInstruments							366,865					578,127	366,865
Share-based payments \| $												$ 1,851,000	$ 4,521,000	$ 359,000
2020 Long Term Incentive Plan [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Increase of additional shares available \| shares	700,000
Options granted during the period (in shares)		568,344	15,000		13,000	35,000				97,000		178,800	510,143	338,432
Granted during the period (in shares) \| EquityInstruments							27,800		20,000		341,843		23,500
Exercise price			$ 13.87
Grant Date Fair Market Value [Abstract]
Granted during the period (in dollars per share)							$ 18.72	$ 20.86	$ 18.82	$ 19.85	$ 19.0
Number [Abstract]
Granted during the period (in shares) \| EquityInstruments							27,800		20,000		341,843		23,500
Exercised during the period (in shares) \| $													(1,442)
Forfeited / cancelled / expired during the period (in shares) \| shares													16,215
Share-based payments \| $												$ 1,812,000	$ 3,625,000	$ 295,000
Unrecognized compensation expense \| $												$ 9,500,000
Period for recognition of compensation expense												66 months
Term of other equity instruments vesting for share-based payment arrangement							36 months			36 months	24 months
Ifrs Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage											50.00%
2020 Long Term Incentive Plan [Member] \| Ifrs Share-Based Payment Arrangement, Option [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Options granted during the period (in shares) \| $						60,000
Options forfeited \| $												200,453
Options exercised \| $												2,716
Exercise price						$ 20.11
2020 Long Term Incentive Plan [Member] \| Ifrs Restricted Stock Units (RSUs) [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Granted during the period (in shares) \| $												568,344
Number [Abstract]
Granted during the period (in shares) \| $												568,344
2020 Long Term Incentive Plan [Member] \| Ifrs Performance Shares [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Granted during the period (in shares) \| EquityInstruments												60,000
Number [Abstract]
Granted during the period (in shares) \| EquityInstruments												60,000
2020 Long Term Incentive Plan [Member] \| Ifrs Restricted Stock [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Granted during the period (in shares) \| EquityInstruments						12,500						12,500
Number [Abstract]
Granted during the period (in shares) \| EquityInstruments						12,500						12,500
2020 Long Term Incentive Plan [Member] \| Ifrs Share-based Payment Arrangement, Tranche One [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Option vested (in shares) \| shares										77,000
Vesting period					1 year	1 year
Number [Abstract]
Term of other equity instruments vesting for share-based payment arrangement								36 months		36 months
Ifrs Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25.00%			25.00%		25.00%
2020 Long Term Incentive Plan [Member] \| Ifrs Share-based Payment Arrangement, Tranche One [Member] \| Ifrs Share-Based Payment Arrangement, Option [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vesting period						1 year
Number [Abstract]
Ifrs Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						25.00%
2020 Long Term Incentive Plan [Member] \| Ifrs Share-based Payment Arrangement, Tranche One [Member] \| Ifrs Restricted Stock [Member]
Number [Abstract]
Ifrs Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						25.00%
2020 Long Term Incentive Plan [Member] \| Ifrs Share-based Payment Arrangement, Tranche Two [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vesting period					36 months
2020 Long Term Incentive Plan [Member] \| Ifrs Share-based Payment Arrangement, Tranche Two [Member] \| Ifrs Share-Based Payment Arrangement, Option [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vesting period						36 months
2020 Long Term Incentive Plan [Member] \| Ifrs Share-based Payment Arrangement, Tranche Two [Member] \| Ifrs Restricted Stock [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vesting period						36 months
2020 Long Term Incentive Plan [Member] \| Vests Based on Satisfaction Of The Performance Obligation [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Options granted during the period (in shares) \| EquityInstruments										20,000
2020 Long Term Incentive Plan [Member] \| Bottom of Range [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Fair value of common shares (in dollars per share)												$ 4.37
Expected term												5.3
Volatility												29.40%
Risk-free rate												0.57%
Options granted during the period (in shares) \| $					5,000
Exercise price					$ 18.32
2020 Long Term Incentive Plan [Member] \| Top of Range [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Number of shares authorized (in shares) \| shares												1,987,326.13
Option term												10 years
Fair value of common shares (in dollars per share)												$ 20.86
Expected term												10.0
Volatility												47.70%
Risk-free rate												2.00%
Options granted during the period (in shares) \| $					8,000
Exercise price					$ 17.60
2017 IBEX Stock Plan, Phantom Stock Plan and 2018 RSA Plan [Member]
Number [Abstract]
Share-based payments \| $												$ 1,900,000	$ 4,500,000
Restricted Stock Awards 2020 [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Granted during the period (in shares)								5,000		10,000			15,000
Number [Abstract]
Granted during the period (in shares)								5,000		10,000			15,000
Restricted Stock Awards 2020 [Member] \| Ifrs Share-based Payment Arrangement, Tranche One [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Option vested (in shares) \| shares										5,000
Number [Abstract]
Term of other equity instruments vesting for share-based payment arrangement										24 months
Ifrs Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage										13.00%
Restricted Stock Awards 2020 [Member] \| Ifrs Share-based Payment Arrangement, Tranche Two [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Option vested (in shares) \| shares									5,000
Award One Granted in December 2021 [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Options granted during the period (in shares) \| $				45,800
Exercise price				$ 13.25
Award One Granted in December 2021 [Member] \| Ifrs Share-based Payment Arrangement, Tranche One [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vesting period				1 year
Number [Abstract]
Ifrs Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				25.00%
Award One Granted in December 2021 [Member] \| Ifrs Share-based Payment Arrangement, Tranche Two [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vesting period				36 months
Award Two Granted in December 2021 [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Options granted during the period (in shares) \| $				10,000
Exercise price				$ 15.18
Award Two Granted in December 2021 [Member] \| Ifrs Share-based Payment Arrangement, Tranche One [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vesting period				1 year
Number [Abstract]
Ifrs Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				25.00%
Award Two Granted in December 2021 [Member] \| Ifrs Share-based Payment Arrangement, Tranche Two [Member]
SHARE BASED COMPENSATION PLANS [Abstract]
Vesting period				36 months

EARNINGS PER SHARE (Details)		1 Months Ended									12 Months Ended
EARNINGS PER SHARE (Details)	Jul. 24, 2020 USD ($)	Apr. 30, 2022 USD ($)	Feb. 28, 2022 USD ($)	Nov. 30, 2021 USD ($)	Aug. 31, 2021 USD ($)	Jun. 30, 2021 EquityInstruments	Jan. 31, 2021 EquityInstruments	Dec. 31, 2020 EquityInstruments	Aug. 31, 2020 EquityInstruments	Dec. 31, 2018 USD ($)	Jun. 30, 2022 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2021 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares
Earnings per share [Abstract]
Shares considered dilutive using treasury method \| shares											468,669	735,475
Shares considered anti-dilutive using treasury method \| shares											17,657	3,250
Number of shares vested (in shares) \| EquityInstruments											2,716	1,442
Number of shares granted (in shares) \| EquityInstruments											819,644	525,143
Warrants vested (in shares) \| shares											669,607	502,205	288,748
Basic and diluted earnings per share [Abstract]
Total - Income attributable to shareholders of the Holding Company											$ 22,990,000	$ 2,847,000	$ 7,770,000
Total - Income attributable to ordinary shareholders of the company											$ 22,990,000	$ 2,847,000
Weighted average number of ordinary shares - basic (in shares) \| shares											18,232,399	17,649,446	1,176,370
Total - Basic earnings per share (in dollars per share) \| $ / shares											$ 1.26	$ 0.16
Weighted average number of ordinary shares - diluted (in shares) \| shares											18,701,068	18,384,921	12,936,962
Total - Diluted earnings per share (in dollars per share) \| $ / shares											$ 1.23	$ 0.15	$ 0
Restricted Share Awards [Member]
Earnings per share [Abstract]
Number of shares vested (in shares)												1,176,370	1,176,370
Number of shares granted (in shares)										2,373,374			1,841,660
Number of shares unvested (in shares) \| shares													665,291
2020 Long Term Incentive Plan [Member]
Earnings per share [Abstract]
Number of shares vested (in shares)												1,442
Number of shares granted (in shares) \| EquityInstruments						27,800	20,000		341,843			23,500
Number of options vested (in shares) \| shares													40,500
Number of options issued (in shares)		568,344	15,000	13,000	35,000			97,000			178,800	510,143	338,432
Series A, Series B and Series C [Member]
Basic and diluted earnings per share [Abstract]
Total - Income attributable to shareholders of the Holding Company													$ 0
Total - Income attributable to ordinary shareholders of the company													$ 0
Series B and C Convertible Stock [Member]
Earnings per share [Abstract]
Total dividends payable											$ 91,800,000
Series A [Member]
Earnings per share [Abstract]
Total dividends payable											$ 9,500,000
Series A [Member] \| The Resource Group International Limited [Member]
Earnings per share [Abstract]
Total dividends paid	$ 4,000,000

DIVIDEND DISTRIBUTION (Details) - USD ($) $ in Millions		12 Months Ended
DIVIDEND DISTRIBUTION (Details) - USD ($) $ in Millions	Jul. 21, 2020	Jun. 30, 2020
Dividend distribution [Abstract]
Dividend paid	$ 4.0
Subsidiaries
Dividend distribution [Abstract]
Dividend paid		$ 0.1

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Financial Instruments Held by Category Financial Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Disclosure of financial assets [abstract]
Financial assets, amortized cost	$ 132,379	$ 131,955
Deposits [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	4,556	4,446
Trade Receivables [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	75,323	66,689
Other Receivables [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	3,561	1,223
Due from Related Parties [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	108	1,755
Cash and Cash Equivalents [Member]
Disclosure of financial assets [abstract]
Financial assets, amortized cost	48,831	$ 57,842
Cash Flow Hedge [Member]
Disclosure of financial assets [abstract]
Financial assets, fair value through Comprehensive income	$ 181

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Financial Instruments Held by Category Financial Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	$ 130,596	$ 139,486
Financial liabilities, fair value through profit or loss	11,311	13,621
Financial liabilities, fair value through Comprehensive income	992	316
Lease liability [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	89,709	83,999
Borrowings [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	15,027	28,517
Trade and Other Payables [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	23,265	22,695
Due to Related Parties [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, amortised cost	2,595	4,275
Warrant Liabilities [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, fair value through profit or loss	11,311	13,621
Cash Flow Hedge [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities, fair value through Comprehensive income	$ 992	$ 316

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Movement of Warrant Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Change in liability [Abstract]
Opening balance	$ 13,621	$ 3,889
Fair value adjustment	(3,926)	7,786
Warrants vested during the period	1,616	1,946
Closing balance	$ 11,311	$ 13,621

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Financial Liability Measured at Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through profit or loss	$ 11,311	$ 13,621
Financial liabilities at fair value through Comprehensive income	992	316
Financial liabilities, fair value	12,303	13,937
Reclassification to profit and loss	(323)	202	$ (518)
Transfer between level 2 to level 3	0
Transfer between level 3 to level 2	0
Warrant Liabilities [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through profit or loss	11,311	13,621
Warrant Liabilities [Member] \| Level 3 [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through profit or loss	11,311	13,621
Cash Flow Hedge [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through Comprehensive income	992	316
Reclassification to profit and loss	300	0
Cash Flow Hedge [Member] \| Level 2 [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at fair value through Comprehensive income	$ 992	$ 316

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Market Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Balance outstanding	$ 3,825	$ 6,205
Impact of 1% change in interest rates on finance costs	500	900
Hedge ineffectiveness	$ (319)	0	$ 0
Top of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	9.76%
Bottom of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	5.40%
PNC Term Loan [Member] \| LIBOR [Member]. \| Top of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	1.75%
PNC Term Loan [Member] \| LIBOR [Member]. \| Bottom of Range [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate	(0.50%)
Interest rate swap contract [member]
Disclosure of detailed information about borrowings [abstract]
Hedge ineffectiveness	$ 50
Interest rate swap contract [member] \| PNC Credit Facility [Member]
Disclosure of detailed information about borrowings [abstract]
Interest rate swap notional value				$ 15,000
Balance outstanding				$ 15,000
Fair value	$ 200	$ 300

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Fair Value of Interest Rate Swaps (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 26, 2023	Mar. 31, 2020
Disclosure of maturity analysis for derivative financial liabilities [line items]
Impact of 1 percent change in interest rate on financial cost	$ 500	$ 900
Fixed Interest Rate [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Fair value liability	170	(316)
Interest rate swap contract [member] \| PNC Credit Facility [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Notional amount				$ 15,000
Fair value liability	$ 200	$ 300
Interest rate swap contract [member] \| Fixed Interest Rate [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Notional amount			$ 15,000
Interest rate			1.43%

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Fair Value of Foreign Exchange Option Contracts (Details) $ in Thousands	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($)
Disclosure of maturity analysis for derivative financial liabilities [line items]
Financial liabilities, fair value	$ 12,303	$ 13,937
Foreign Exchange Option Contracts [Member] \| Financial assets at fair value, class [member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Notional amount	21,380
Financial assets, at fair value	$ 11
Foreign Exchange Option Contracts [Member] \| Financial assets at fair value, class [member] \| Bottom of Range [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Closing foreign exchange rate \| $ / shares	49.00
Foreign Exchange Option Contracts [Member] \| Financial assets at fair value, class [member] \| Top of Range [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Closing foreign exchange rate \| $ / shares	54.20
Foreign Exchange Option Contracts [Member] \| Financial liabilities at fair value, class [member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Notional amount	$ 21,380
Financial liabilities, fair value	$ 992
Foreign Exchange Option Contracts [Member] \| Financial liabilities at fair value, class [member] \| Bottom of Range [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Closing foreign exchange rate \| $ / shares	49.00
Foreign Exchange Option Contracts [Member] \| Financial liabilities at fair value, class [member] \| Top of Range [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
Closing foreign exchange rate \| $ / shares	54.20

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Foreign Currency Exchange Risk (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Philippines, Pesos [Member]
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Effect of 5.0% depreciation in functional currency against U.S dollar on net loss after taxation	$ (1.0)	$ (1.6)
Effect of 5.0% appreciation in functional currency against U.S dollar on net loss after taxation	1.0	1.6
Euro [Member]
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Effect of 5.0% depreciation in functional currency against U.S dollar on net loss after taxation	(0.2)	(0.1)
Effect of 5.0% appreciation in functional currency against U.S dollar on net loss after taxation	0.2	0.1
Pakistan, Rupees [Member]
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Effect of 5.0% depreciation in functional currency against U.S dollar on net loss after taxation	0.1	(0.3)
Effect of 5.0% appreciation in functional currency against U.S dollar on net loss after taxation	$ 0.1	$ 0.3

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Movement of Cash Flow Hedge Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES..
Opening balance	$ 316	$ 518
Loss / (gain) arising on changes in fair value of hedging instruments during the period	860	(202)
(Loss) / gain reclassified to profit or loss - hedged item has affected profit or loss	(319)	0	$ 0
Closing balance	857	$ 316	$ 518
Loss reclassified on payroll and related costs	$ 300

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Credit Rating (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Disclosure of external credit grades [abstract]
Bank balances	$ 48,831	$ 57,842
A-1+ [Member]
Disclosure of external credit grades [abstract]
Bank balances	3,283	2,396
A-1 [Member]
Disclosure of external credit grades [abstract]
Bank balances	42,146
AA- [Member]
Disclosure of external credit grades [abstract]
Bank balances	694
A+ [Member]
Disclosure of external credit grades [abstract]
Bank balances	524	45,082
A [Member]
Disclosure of external credit grades [abstract]
Bank balances		3,138
A- [Member]
Disclosure of external credit grades [abstract]
Bank balances		403
A-3 [Member]
Disclosure of external credit grades [abstract]
Bank balances	128
B+ [Member]
Disclosure of external credit grades [abstract]
Bank balances	943	955
BA3 [Member]
Disclosure of external credit grades [abstract]
Bank balances	73	90
BBB+ [Member]
Disclosure of external credit grades [abstract]
Bank balances		4,635
BBB [Member]
Disclosure of external credit grades [abstract]
Bank balances	1,015	1,118
Non - Rated [Member]
Disclosure of external credit grades [abstract]
Bank balances	$ 25	$ 25

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Credit Risk (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Disclosure of financial assets [abstract]
Financial assets at amortised cost	$ 132,379	$ 131,955
Deposits [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	4,556	4,446
Trade Receivables [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	75,323	66,689
Other Receivables [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	3,561	1,223
Due from Related Parties [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	108	1,755
Cash and Cash Equivalents [Member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	$ 48,831	$ 57,842

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Concentration of Credit Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure of major customers [abstract]
Revenue from external customers	$ 493,572	$ 443,662	$ 405,135
Percentage of total revenue	100.00%	100.00%	100.00%
Trade receivables gross	$ 76,708	$ 69,715	$ 55,862
Percentage of trade debt	100.00%	100.00%	100.00%
Subtotal [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 132,211	$ 155,417	$ 177,208
Percentage of total revenue	27.00%	35.00%	44.00%
Trade receivables gross	$ 20,060	$ 18,352	$ 16,551
Percentage of trade debt	26.00%	26.00%	30.00%
Client 1 [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 59,570	$ 55,181	$ 73,743
Percentage of total revenue	12.00%	12.00%	18.00%
Trade receivables gross	$ 9,966	$ 7,247	$ 114
Percentage of trade debt	13.00%	10.00%	0.00%
Client 2 [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 36,814	$ 51,991	$ 64,937
Percentage of total revenue	8.00%	12.00%	16.00%
Trade receivables gross	$ 5,725	$ 6,169	$ 7,425
Percentage of trade debt	7.00%	9.00%	13.00%
Client 3 [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 35,827	$ 48,245	$ 38,528
Percentage of total revenue	7.00%	11.00%	10.00%
Trade receivables gross	$ 4,369	$ 4,936	$ 9,012
Percentage of trade debt	6.00%	7.00%	16.00%
Other [Member]
Disclosure of major customers [abstract]
Revenue from external customers	$ 361,361	$ 288,245	$ 227,927
Percentage of total revenue	73.00%	65.00%	56.00%
Trade receivables gross	$ 56,648	$ 51,363	$ 39,311
Percentage of trade debt	74.00%	74.00%	70.00%

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - The Expected Credit Loss for Trade Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Credit loss for trade receivables [Abstract]
Expected credit loss rate	0.00%	0.00%
Gross carrying amount	$ 76,708	$ 69,715	$ 55,862
Lifetime expected credit loss	1,290	1,663
Individually impaired trade receivable	0	638
Total allowance for credit losses	$ 1,290	$ 2,301	$ 1,877
Not Overdue [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	0.00%	0.00%
Gross carrying amount	$ 73,524	$ 65,090
Lifetime expected credit loss	$ 4	$ 4
Due, 0 to 30 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	0.00%	0.00%
Gross carrying amount	$ 1,302	$ 1,933
Lifetime expected credit loss	$ 1	$ 6
Due, 31 to 60 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	3.00%	1.00%
Gross carrying amount	$ 238	$ 192
Lifetime expected credit loss	$ 7	$ 1
Due 61 to 90 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	15.00%	17.00%
Gross carrying amount	$ 196	$ 190
Lifetime expected credit loss	$ 29	$ 33
Due 91 to 180 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	31.00%	25.00%
Gross carrying amount	$ 261	$ 300
Lifetime expected credit loss	$ 80	$ 74
Due over 180 Days [Member]
Credit loss for trade receivables [Abstract]
Expected credit loss rate	98.00%	77.00%
Gross carrying amount	$ 1,187	$ 2,010
Lifetime expected credit loss	$ 1,169	$ 1,545

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - Individually Credit Impaired Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES..
Credit impaired trade receivables - Gross carrying amount	$ 1,138	$ 2,142
Expected credit loss allowance	1,124	2,124
Credit impaired trade receivables net	$ 14	$ 18

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES - The Contractual Maturities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Assets liabilities contractual maturity [Abstract]
Minimum period to meet expected requirement for maintaining cash balance	45 days
Cash generated from operations	$ 61,100	$ 40,600
Financial assets, contractual maturity	132,379	131,955
Financial liabilities, contractual maturity	158,366	168,964
Net assets (liabilities), contractual maturity	(25,987)	(37,009)
Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	128,663	128,240
Financial liabilities, contractual maturity	61,974	72,568
Net assets (liabilities), contractual maturity	66,689	55,672
1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	3,716	3,715
Financial liabilities, contractual maturity	35,964	34,666
Net assets (liabilities), contractual maturity	(32,248)	(30,951)
4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	60,428	61,730
Net assets (liabilities), contractual maturity	(60,428)	(61,730)
Lease liability [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	116,382	112,885
Lease liability [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	20,333	18,344
Lease liability [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	35,621	32,811
Lease liability [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	60,428	61,730
Long Term Other Borrowings [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	3,930	6,481
Long Term Other Borrowings [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	3,587	4,626
Long Term Other Borrowings [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	343	1,855
Long Term Other Borrowings [Member] \| 4 - 5 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	0
Non-revolving Line of Credit [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	11,202	22,312
Non-revolving Line of Credit [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	11,202	22,312
Trade and Other Payables [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	24,257	23,011
Trade and Other Payables [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	24,257	23,011
Due to Related Parties [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	2,595	4,275
Due to Related Parties [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial liabilities, contractual maturity	2,595	4,275
Deposits [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	4,556	4,446
Deposits [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	840	731
Deposits [Member] \| 1 - 3 Years [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	3,716	3,715
Trade Receivables [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	75,323	66,689
Trade Receivables [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	75,323	66,689
Other Receivables [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	3,561	1,223
Other Receivables [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	3,561	1,223
Due from Related Parties [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	108	1,755
Due from Related Parties [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	108	1,755
Cash and Cash Equivalents [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	48,831	57,842
Cash and Cash Equivalents [Member] \| Less Than 1 Year [Member]
Assets liabilities contractual maturity [Abstract]
Financial assets, contractual maturity	$ 48,831	$ 57,842

TRANSACTIONS WITH RELATED PARTIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue	$ 299	$ 1,164	$ 1,325
Service delivery expense	171	509	610
Due from related parties	108	1,755
Due to related parties	2,595	4,275
Outstanding balances repaid		1,614
Related Entity [Member] \| BPO Solutions, Inc [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue	0	0
Service delivery expense	0	0
Due from related parties	0	0
Due to related parties	2,459	3,610
Related Entity [Member] \| Alert Communications, Inc. [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue	60	113	164
Service delivery expense	0	0	0
Due from related parties	0	696
Due to related parties	0	0
Related Entity [Member] \| TRG Marketing Services, Inc. [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0
Service delivery expense		0
Due from related parties		19
Due to related parties		0
Related Entity [Member] \| Afiniti International Holdings Limited [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue	63	56	53
Service delivery expense	19	27	48
Due from related parties	0	0
Due to related parties	124	168
Related Entity [Member] \| TRG Holdings, LLC [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0
Service delivery expense		0
Due from related parties		0
Due to related parties		122
Related Entity [Member] \| Third Party Lessor [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue	176	201	310
Service delivery expense	152	405	489
Due from related parties	95	87
Due to related parties	12	97
Related Entity [Member] \| 3rd Party Client and Internet Services Provider [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		679	764
Service delivery expense		77	73
Due from related parties		638
Due to related parties		278
Related Entity [Member] \| TRG (Private) Limited [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0
Service delivery expense		0
Due from related parties		121
Due to related parties		0
Related Entity [Member] \| Etelequote [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		115	34
Service delivery expense		0	$ 0
Due from related parties		18
Due to related parties		0
Parent [member] \| The Resource Group International Limited [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue		0
Service delivery expense		0
Due from related parties		163
Due to related parties		0
Officers [Member] \| IBEX Limited Executive Leadership [Member]
Balances and Transactions with Related Parties [Abstract]
Service delivery revenue	0	0
Service delivery expense	0	0
Due from related parties	13	13
Due to related parties	$ 0	$ 0

CAPITAL RISK MANAGEMENT (Details) $ in Millions	12 Months Ended
CAPITAL RISK MANAGEMENT (Details) $ in Millions	Jun. 30, 2022 USD ($) subsidiary	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jul. 31, 2020 USD ($)
Capital risk management [Abstract]
Amount of deferred payment of Social Security		$ 1.1
Subsidiaries
Capital risk management [Abstract]
Amount of cash outflow for deferred social security payment made	$ 2.6	0.7
US [Member]
Capital risk management [Abstract]
Number of subsidiaries that deferred payment of Social Security \| subsidiary	1
Amount of cash outflow for deferred social security payment made			$ 4.4
Amount of deferred payment of Social Security	$ 1.1	3.7
US [Member] \| Financial Year 2023 [Member]
Capital risk management [Abstract]
Repayment of Deferred Payment of Social Security		$ 1.1
Pakistan [Member]
Capital risk management [Abstract]
Loans received				$ 1.7
Period of employee wages and salaries to be funded with loans	3 months
Term of loan	2 years

SEGMENT INFORMATION (Details)	12 Months Ended
SEGMENT INFORMATION (Details)	Jun. 30, 2022 segment
Operating Segments [Abstract]
Number of operating segments	1

SEGMENT INFORMATION - Revenue from Contract with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contracts with Customers [Abstract]
Percentage of revenue	100.00%	100.00%	100.00%
Revenue from continuing operations	$ 493,572	$ 443,662	$ 405,135
Revenue	493,572	443,662	405,135
Deferred Revenue Movement [Abstract]
Opening balance	7,087	3,904
Revenue recognized during the year	(5,592)	(5,416)
Revenue deferred during the year	11,098	8,599
Closing balance	12,593	7,087	3,904
Deferred Revenue expected to be recognized [Abstract]
FY2023	8,600
FY2024	3,642
FY2025	323
FY2026	26
FY2027	2
Deferred revenue	12,593	7,087	3,904
Services transferred at a point in time
Revenue from Contracts with Customers [Abstract]
Revenue	37,645	40,775	48,486
Services transferred over time
Revenue from Contracts with Customers [Abstract]
Revenue	$ 455,927	402,887	356,649
Bottom of Range [Member]
Revenue from Contracts with Customers [Abstract]
Percentage of revenue	97.00%
United States of America [Member]
Revenue from Contracts with Customers [Abstract]
Revenue from continuing operations	$ 476,813	428,831	391,933
Others [Member].
Revenue from Contracts with Customers [Abstract]
Revenue from continuing operations	$ 16,759	$ 14,831	$ 13,202

SEGMENT INFORMATION - Non-current Assets by Location (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Non-current Assets [Abstract]
Non-current assets	$ 137,395	$ 128,661
United States of America [Member]
Non-current Assets [Abstract]
Non-current assets	37,420	28,668
Others [Member].
Non-current Assets [Abstract]
Non-current assets	$ 99,975	$ 99,993

PAYROLL AND RELATED COSTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Employee benefits
Salaries and other employee costs	$ 289,740	$ 247,926	$ 228,818
Social security and other taxes	51,403	47,874	46,480
Retirement - contribution plan	718	771	823
Pensions - defined benefit scheme	278	228	134
Total payroll and related costs	342,139	296,799	276,255
Remuneration of Key Management Personnel
Salaries and other employee costs	5,055	5,293	5,524
Share - based payments	847	1,671	214
Total remuneration of key management personnel	$ 5,902	$ 6,964	$ 5,738

OTHER OPERATING COSTS (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER OPERATING COSTS (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
OTHER OPERATING COSTS.
Rent and utilities	$ 10,797	$ 8,462	$ 7,802
Telecommunication	7,378	6,890	6,908
Information technology	10,130	8,331	5,225
Facilities expense	20,101	20,742	16,510
Travel and housing	2,621	1,679	7,972
Local transportation	8,024	13,768	3,977
Insurance	5,207	4,837	1,516
Legal and professional expenses	5,609	8,112	6,570
Allowance for expected credit loss	(761)	291	224
Others	5,899	3,753	7,366
Other Operating Costs	75,005	76,865	64,070
Non-recurring legal expenses	$ 0	$ 900	$ 0

WARRANT (Details)		1 Months Ended	12 Months Ended
WARRANT (Details)	Aug. 07, 2020 $ / shares shares	Dec. 31, 2020 $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 shares
WARRANT
Weighted-average expected life (in years) \| $			5.37
Average volatility			33.80%
Expected average dividend yield			0.00%
Average risk-free rate for options granted			3.00%
Estimated fair value of common shares in share-based payment arrangement \| $ / shares			$ 16.87
Warrants cancelled or expired (in shares)			0	0
Number of warrants vested during period			669,607	502,205	288,748
Fair value of warrant liability \| $			$ 11,300,000	$ 13,600,000
Warrant asset noncurrent and current \| $			1,800,000	2,100,000
Revenue reduction due to amortization of warrant asset \| $			$ 300,000	$ 800,000
Series B and C Convertible Stock [Member]
WARRANT
Number of warrants issued to purchase shares (in shares)	1,443,740
Warrant vesting period			7 years 6 months
Exercise price of warrants (in dollars per share) \| $ / shares	$ 9.42
Common Shares [Member]
WARRANT
Number of shares converted	1,674,017			14,119,384
Amazon [Member]
WARRANT
Warrant term		10 years
Percentage of equity issued as warrant		10.00%
Exercise price of warrants (in dollars per share) \| $ / shares		$ 11.20
Amazon [Member] \| Series B Convertible Preference Shares [Member]
WARRANT
Number of warrants issued to purchase shares (in shares)		1,429,303
Amazon [Member] \| Series C Convertible Preference Shares [Member]
WARRANT
Number of warrants issued to purchase shares (in shares)		14,437.4049
Amazon [Member] \| Series B and C Convertible Stock [Member]
WARRANT
Number of warrants issued to purchase shares (in shares)		1,443,740
Amazon [Member] \| Common Shares [Member]
WARRANT
Number of shares converted		1,674,017

HOLDING COMPANY INDIRECT SUBSIDIARIES - Indirect Subsidiaries of Holding Company (Details)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
IBEX [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Limited
Location	Bermuda
Nature of business	Holding Company
Ownership interest	100.00%	100.00%
IBEX Global Solutions Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Solutions Limited
Location	England
Nature of business	Holding company
Ownership interest	100.00%	100.00%
Lovercius Consultants Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	Lovercius Consultants Limited
Location	Cyprus
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Global Europe [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Europe
Location	Luxembourg
Nature of business	Tech support services
Ownership interest	100.00%	100.00%
IBEX Global ROHQ [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global ROHQ
Location	Philippines
Nature of business	Regional HQ
Ownership interest	100.00%	100.00%
Ibex Global Solutions, Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Solutions, Inc. (formerly TRG Customer Solutions, Inc.)
Location	USA
Nature of business	Call center
Ownership interest	100.00%	100.00%
TRG Customer Solutions (Canada), Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	TRG Customer Solutions (Canada), Inc.
Location	Canada
Nature of business	Call center
Ownership interest	100.00%	100.00%
TRG Marketing Solutions Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	TRG Marketing Solutions Limited
Location	England
Nature of business	Call center
Ownership interest	100.00%	100.00%
Virtual World (Private) Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	Virtual World (Private) Limited
Location	Pakistan
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Philippines, Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Philippines, Inc.
Location	Philippines
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Global Solutions (Philippines) Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Solutions (Philippines) Inc.
Location	Philippines
Nature of business	Call center
Ownership interest	100.00%	100.00%
TRG Customer Solutions (Philippines) Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	TRG Customer Solutions (Philippines) Inc.
Location	Philippines
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Customer Solutions Senegal S.A. (formerly TRG Senegal SA.
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Solutions Senegal S.A. (formerly TRG Senegal SA)
Location	Senegal
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Global Solutions (Private) Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Solutions (Private) Limited
Location	Pakistan
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Global MENA FZE [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global MENA FZE
Location	Dubai
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Global Bermuda Ltd [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Bermuda Ltd
Location	Bermuda
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Global Solutions Nicaragua SA [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Solutions Nicaragua SA
Location	Nicaragua
Nature of business	Call center
Ownership interest	100.00%	100.00%
Ibex Honduras S.A. de C.V. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	Ibex Honduras S.A. de C.V.
Location	Honduras
Nature of business	Call center
Ownership interest	100.00%	0.00%
IBEX Global St. Lucia Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global St. Lucia Limited
Location	St. Lucia
Nature of business	Holding company
Ownership interest	100.00%	100.00%
IBEX Global Jamaica Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Jamaica Limited
Location	Jamaica
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Receivable Solutions, Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Receivable Solutions, Inc
Location	USA
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Global Solutions France SARL [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Solutions France SARL
Location	France
Nature of business	Call center
Ownership interest	100.00%	100.00%
IBEX Global Solutions Holding Inc. [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	IBEX Global Solutions Holdings Inc.
Location	USA
Nature of business	Holding company
Ownership interest	100.00%	100.00%
Digital Globe Services, LLC [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	Digital Globe Services, LLC
Location	USA
Nature of business	Internet marketing for residential cable services
Ownership interest	100.00%	100.00%
Telsat Online, LLC [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	TelsatOnline, LLC
Location	USA
Nature of business	Internet marketing for non - cable telco services
Ownership interest	100.00%	100.00%
7 Degrees LLC [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	7 Degrees LLC
Location	USA
Nature of business	Digital marketing agency
Ownership interest	100.00%	100.00%
iSky, LLC [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	iSky, LLC
Location	USA
Nature of business	Customer experience
Ownership interest	100.00%	0.00%
DGS [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	DGS Limited
Location	Bermuda
Nature of business	Holding Company
Ownership interest	100.00%	100.00%
DGS Worldwide Marketing Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	DGS Worldwide Marketing Limited
Location	Cyprus
Nature of business	Holding company and global marketing
Ownership interest	100.00%	100.00%
DGS (Pvt.) Limited [Member]
Disclosure of subsidiaries [abstract]
Name of subsidiary	DGS (Pvt.) Limited
Location	Pakistan
Nature of business	Call center and support services
Ownership interest	100.00%	100.00%

HOLDING COMPANY INDIRECT SUBSIDIARIES - Joint Venture Entity of Holding Company (Details) - Lake Ball LLC [Member]		12 Months Ended
	Jan. 01, 2016	Jun. 30, 2022	Jun. 30, 2021
Nature of business and ownership percentage [Abstract]
Name of joint venture		Lakeball LLC (Note 7)
Location		USA
Nature of business		Internet Marketing for commercial cable services
Ownership interest	47.50%	47.50%	47.50%