0001720420-23-000013 | 10-K | XBRL Viewer

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Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease cost	$ 21,614	$ 21,442	$ 18,961
Variable lease cost	4,127	4,207	3,806
Total operating lease cost	25,741	25,649	22,767
Amortization of right of use assets	446	375	2,541
Interest on lease liabilities	143	93	104
Total finance lease cost	$ 589	$ 468	$ 2,645

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2023

Quarterly Financial Information Disclosure [Abstract]

Summary of Selected Quarterly Financial Data

Selected quarterly financial data is presented below for each quarter in fiscal year 2023 to reflect the Company’s material retrospective change due to its conversion from IFRS to U.S. GAAP.


	Fiscal year 2023
	Quarter 1		Quarter 2		Quarter 3		Quarter 4
Revenue	$	127,805	$	139,325	$	131,557	$	124,431
Cost of services	96,153		99,790		91,693		87,356
Income from operations	7,670		11,451		13,051		8,306
Net income	6,523		9,270		11,279		4,510
Net income per share:
Basic	$	0.36	$	0.51	$	0.62	$	0.25
Diluted	$	0.35	$	0.49	$	0.60	$	0.24

Stockholders' Equity - Changes in AOCI by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 113,459	$ 94,749	$ 18,718
Foreign currency translation	(2,234)	(2,281)	(477)
Actuarial gain / (losses) on defined benefit plan	(120)	287	(26)
Unrealized gains / (losses) on cash flow hedges	(479)	(905)	202
Reclassifications to earnings	1,245	517	(10)
Tax provision	(162)	218
Balance, end of period	149,964	113,459	94,749
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(4,562)	(2,398)	(2,087)
Balance, end of period	(6,312)	(4,562)	(2,398)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(4,026)	(1,745)	(1,095)
Foreign currency translation	(2,234)	(2,281)	(477)
Reclassifications to earnings	0	0	(173)
Tax provision	0	0
Balance, end of period	(6,260)	(4,026)	(1,745)
Derivative Valuation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(639)	(316)	(518)
Unrealized gains / (losses) on cash flow hedges	(479)	(905)	202
Reclassifications to earnings	1,156	364	0
Tax provision	(162)	218
Balance, end of period	(124)	(639)	(316)
Defined Benefit Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	103	(337)	(474)
Actuarial gain / (losses) on defined benefit plan	(120)	287	(26)
Reclassifications to earnings	89	153	163
Tax provision	0	0
Balance, end of period	$ 72	$ 103	$ (337)

Stockholders' Equity

12 Months Ended

Jun. 30, 2023

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

AOCI

The following table presents changes by component:


	Foreign Currency Translation Adjustment	Derivative Valuation	Defined Benefit Plan	Total
Balance as of June 30, 2020	(1,095)	(518)	(474)	(2,087)
Foreign currency translation	(477)	—	—	(477)
Actuarial gain / (losses) on defined benefit plan	—	—	(26)	(26)
Unrealized gains / (losses) on cash flow hedges	—	202	—	202
Reclassifications to earnings	(173)	—	163	(10)
Balance as of June 30, 2021	(1,745)	(316)	(337)	(2,398)
Foreign currency translation	(2,281)	—	—	(2,281)
Actuarial gain / (losses) on defined benefit plan	—	—	287	287
Unrealized gains / (losses) on cash flow hedges	—	(905)	—	(905)
Reclassifications to earnings	—	364	153	517
Tax provision	—	218	—	218
Balance as of June 30, 2022	(4,026)	(639)	103	(4,562)
Foreign currency translation	(2,234)		—	(2,234)
Actuarial gain / (losses) on defined benefit plan	—	—	(120)	(120)
Unrealized gains / (losses) on cash flow hedges	—	(479)	—	(479)
Reclassifications to earnings	—	1,156	89	1,245
Tax provision	—	(162)	—	(162)
Balance as of June 30, 2023	(6,260)	(124)	72	(6,312)

The following table presents the reclassifications from AOCI to the consolidated statements of comprehensive income:


	For the year ended June 30,
Description of AOCI components	2023	2022	2021	Statement of Other Comprehensive Income Classification
Foreign currency translation gain	173	—	—	Selling, general and administrative expense

Gains / (losses) on foreign currency hedges	(1,201)	(319)	—	Cost of services
Gains / (losses) on interest rate swap	45	(45)	—	Interest expense, net
Tax provision	162	(218)	—	Provision for income taxes
Total derivative valuation	(994)	(582)	—

Amortization related to defined benefit plan	(89)	(153)	(163)	Cost of services

Share buyback

In December 2021, the Company’s board of directors authorized the repurchase of up to $20 million of its common shares. 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. For the years ended June 30, 2023 and 2022, the Company repurchased 17,558 and 227,889 shares, respectively, of its common shares totaling $0.3 million, and $3.4 million, respectively. The repurchase program expired December 9, 2022.

Dividend distribution

Prior to our initial public offering in fiscal year 2021, our board of directors approved a one-time dividend of $4.0 million 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 was entitled to a dividend preference that expired upon conversion of the Series A preferred share to common shares upon the completion of our IPO.

- Definition

The entire disclosure for equity.

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+ Details

Investment in Joint Venture - Summarized Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) In Equity Method Investment [Roll Forward]
Opening balance				$ 382	$ 382	$ 258
Dividends received					(725)	(1,027)
Share of profit					715	1,151
Ending balance	$ 372				372	382	$ 258
Schedule of Equity Method Investments [Line Items]
Revenue	$ 124,431	$ 131,557	$ 139,325	$ 127,805	523,118	492,851	443,388
Comprehensive income					29,832	19,292	12,778
Lake Ball, LLC
Schedule of Equity Method Investments [Line Items]
Revenue					7,802	6,455	4,342
Comprehensive income					$ 1,537	$ 1,792	$ 1,215

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Overview and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Estimated Useful Lives of Property and Equipment

Property and equipment and assets leased under financing leases are carried at cost at acquisition date and are depreciated using the straight-line method over their estimated useful lives as follows:


Property and equipment						Useful economic life
Leasehold improvements						Lesser of life of the asset or expected lease term
Furniture, fixture and office equipment						3 - 5 years
Computer equipment and software						3 years
Vehicles						3 - 5 years

Property and equipment consists of the following:


	June 30, 2023		June 30, 2022
Leasehold improvements	$	37,356	$	33,277
Furniture & fixtures	31,228		29,986
Computer equipment	73,824		67,448
Software	21,057		19,556
Vehicles	1,779		1,295
Assets under construction	435		1,356
Property and equipment, gross	$	165,679	$	152,918
Less: Accumulated depreciation	(124,528)		(110,979)
Property and equipment, net	$	41,151	$	41,939

The following table presents the Company’s total property and equipment by geographic location:


	June 30, 2023		June 30, 2022
USA	$	10,751	$	10,476
Philippines	9,117		11,474
Pakistan	3,923		2,995
Jamaica	13,374		11,318
Nicaragua	3,421		4,948
Honduras	565		709
Senegal	—		19
Total	$	41,151	$	41,939

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Revenue	$ 523,118	$ 492,851	$ 443,388
Cost of services (exclusive of depreciation and amortization presented separately below)	374,992	373,973	335,249
Selling, general and administrative	88,663	80,153	76,976
Depreciation and amortization	18,985	18,100	14,118
Total operating expenses	482,640	472,226	426,343
Income from operations	40,478	20,625	17,045
Interest expense, net	(152)	(1,246)	(1,892)
Income before income taxes	40,326	19,379	15,153
Provision for income tax (expense) / benefit	(8,744)	2,077	(2,064)
Net income	31,582	21,456	13,089
Other comprehensive loss
Foreign currency translation adjustments	(2,234)	(2,281)	(650)
Unrealized gain / (loss) on cash flow hedging instruments, net of tax	515	(323)	202
Actuarial (loss) / gain on defined benefit plan	(31)	440	137
Total other comprehensive loss	(1,750)	(2,164)	(311)
Total comprehensive income	$ 29,832	$ 19,292	$ 12,778
Net income per share
Basic (in dollars per share)	$ 1.74	$ 1.18	$ 0.74
Diluted (in dollars per share)	$ 1.67	$ 1.15	$ 0.71
Weighted average common shares outstanding
Basic (in shares)	18,200	18,232	17,649
Diluted (in shares)	18,893	18,724	18,359

Accounts Receivable and Significant Clients - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Receivables [Abstract]
Accounts receivable	$ 86,484	$ 76,708
Less: Allowance for credit losses	(120)	(1,290)	$ (2,301)
Accounts receivable, net	$ 86,364	$ 75,418

Share Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Jan. 14, 2022	May 20, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, period for recognition	3 years 9 months 7 days
Unrecognized compensation expense	$ 8.2
Phantom Stock Plans
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum number of shares available for issuance (in shares)	600,000
2018 Restricted Stock Award Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for grant (in shares)					0
Number of shares transferred (in shares)					707,535
2020 Long term Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum number of shares available for issuance (in shares)				1,987,326
Phantom stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value (in dollars per share)	$ 8.33	$ 5.59	$ 13.84
Pre-tax intrinsic value of options exercised (in dollars per share)	$ 8.85	$ 9.52	$ 14.76
Liability for outstanding stock options	$ 1.2	$ 1.0
Unrecognized compensation expense, options	$ 0.6
Unrecognized compensation expense, period for recognition	47 months
Expected dividend yield	0.00%	0.00%	0.00%
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value (in dollars per share)	$ 18.78	$ 16.42	$ 16.70
Pre-tax intrinsic value of options exercised (in dollars per share)	$ 8.15	$ 4.08	$ 3.65
Expected dividend yield	0.00%	0.00%	0.00%
Term of option awards	10 years
Stock options \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	2 years
Stock options \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years
Restricted Share Awards (RSA)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	2 years
Weighted average grant-date fair value (in dollars per share)	$ 0.61	$ 0.61
Weighted average grant-date fair value of awards vested (in dollars per share)	$ 0.61
Performance-Based Restricted Stock Units (PRSU)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Units (RSU) and Performance-Based Restricted Stock Units (PRSU)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant-date fair value (in dollars per share)	$ 16.28	16.68	$ 19.23
Weighted average grant-date fair value of awards vested (in dollars per share)	$ 17.12	$ 19.23	$ 19.23

Overview and Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Overview and Summary of Significant Accounting Policies

OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

OVERVIEW

IBEX Limited (“IBEX” and together with its subsidiaries, the “Company,” “ibex,” “we,” “us,” or “our”) was incorporated on February 28, 2017 in Hamilton, Bermuda. Our registered office in Bermuda is Crawford House, 50 Cedar Avenue, Hamilton HM 11, Bermuda. We are a “controlled company” within the meaning of the rules of Nasdaq, with The Resource Group International Limited (“TRGI”) being our controlling shareholder. TRG Pakistan Limited holds a controlling interest in TRGI. On August 7, 2020, the Company was admitted to trade on the Nasdaq Global Market under the ticker symbol “IBEX.”

The Company is an end-to-end provider of technology-enabled customer lifecycle experience (“CLX”) solutions. Through the Company’s integrated CLX platform, a comprehensive portfolio of solutions is offered to optimize customer acquisition, engagement, expansion and experience for clients. The Company leverages sophisticated technology and proprietary analytics, in combination with its global footprint and business process outsourcing expertise, to protect and enhance clients’ brands. The Company manages nearly 176 million interactions each year with consumers on behalf of clients through an omni-channel approach, using voice, web, chat and email.

Our services cover three main areas:

•ibex Connect: Our Connect business lies at the core of our offerings and generates the majority of the company’s revenue. This business unit delivers differentiated customer service (assisting our clients’ customers with information about our clients and their products or services), technical support (providing specialized teams to provide information, assistance and technical guidance to our clients’ customers on a specific product or service), revenue generation (upselling and cross selling) and other value-added outsourced back office services (finance and accounting, marketing support, sales operations, and human resources administration) to our clients. We deploy these capabilities through a true omni-channel CX model, which integrates voice, email, chat, SMS, social media and other communication applications.

•ibex Digital: Our ibex Digital suite of solutions works with consumer-facing businesses to help them build, grow and scale technology-driven customer acquisition solutions, while helping drive digital transformation. We offer digital marketing, e-commerce technology, and platform solutions for some of the largest and fastest growing brands, helping them build new customer acquisition channels, increase acquired customers, and often do both at a reduced cost.

•ibex CX: Our CX business measures, monitors and manages our clients’ wholistic customer experiences. By offering a 360-degree CX approach, our clients can harness the power of data and customer feedback to differentiate themselves within today’s “customer expectation economy.” We enable our clients to improve retention of their customers, identify and manage service issues in real time, predict future behavior and outcomes, derive impact analysis scenarios and assign “action plans” throughout the enterprise.

Operating segments

An operating segment is defined as a component of a company for which separate financial information is available and which is regularly evaluated by the chief operating decision maker (“CODM”) for the purpose of making decisions regarding resource allocation and in performance assessment. The Company’s CODM is the chief executive officer (“CEO”). The Company’s CODM reviews consolidated financial results to make decisions, allocate resources and assess performance. Therefore, the Company has determined that it operates in a single operating and reportable segment.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation and principles of consolidation

Historically, the Company qualified as a foreign private issuer and prepared its consolidated financial statements in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). Effective July 1, 2023, the Company no longer qualifies as a foreign private issuer as defined in Rule 405 of Regulation C under the Securities Act and Rule 3b-4 under the Exchange Act and therefore has become a domestic filer and must file this Form 10-K pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 and in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Company’s consolidated financial statements were prepared in accordance with U.S. GAAP retrospectively for the fiscal years ended June 30, 2023, 2022, and 2021 and include the financial results of all wholly-owned subsidiaries. When the Company does not have majority ownership in an entity but exerts significant influence over that entity, the Company accounts for the entity under the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation.

Use of estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Significant items subject to such estimates and assumptions include useful lives for property and equipment; impairment of long-lived assets, operating lease assets and liabilities, goodwill, and other intangible assets; allowance for credit losses; valuation allowances for deferred tax assets and other receivables; fair value of share-based compensation, warrants, and derivatives, and legal provisions. The Company bases its estimates on historical experience and other assumptions it believes are reasonable, including the use of outside experts as necessary, and updates these estimates on an ongoing basis and as new events occur, more experience is acquired and/or more information is obtained. Actual results could differ materially from these estimates.

Foreign currency matters

These financial statements are presented in U.S. dollars, which is the functional and presentation currency of IBEX Limited. Certain of the Company’s subsidiaries have a functional currency other than the U.S. dollar. The assets and liabilities of these subsidiaries are translated into U.S. dollars at period-end exchange rates. Income and expense items are translated at the monthly average exchange rates during the period in which the items occur. Translation gains and losses are recorded in accumulated other comprehensive income (loss) ("AOCI"), a component of stockholders' equity, and included in net earnings only upon sale or liquidation of the underlying foreign subsidiary or affiliated company. Foreign currency transaction gains and losses are recognized in selling, general and administrative expense and are based on differences between foreign exchange rates on the transaction date and on the settlement date.

Cash and cash equivalents

Cash and cash equivalents includes highly liquid investments with initial maturities of three months or less and include money market funds. The carrying value of cash and cash equivalents approximates fair value because of the short-term maturity of those instruments. The majority of the Company’s cash and cash equivalents are deposited with financial institutions located in the U.S. and may at times exceed insured limits.

Trade receivables

Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Amounts collected on trade accounts receivable are included in net cash provided by operating activities in the statements of cash flows. In accordance with Accounting Standard Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326), the Company maintains an allowance for credit losses for expected lifetime credit losses inherent in its accounts receivable portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances

are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Concentration of credit risk

The Company is exposed to credit risk in the normal course of business, primarily related to accounts receivable and derivative instruments. Historically, the losses related to credit risk have been immaterial. The Company regularly monitors its credit risk to mitigate losses. The Company evaluates the creditworthiness of its clients prior to and throughout the life of the client relationship. The Company does not believe it is exposed to more than a nominal amount of credit risk in its derivative instruments as all of its counterparties are investment-grade financial institutions.

Tax advances and receivables

Tax advances and receivables consist primarily of refundable sales and use taxes and income tax prepayments.

Other assets

Other current assets and other non-current assets consist primarily of refundable security deposits, loans and advances receivable, and derivative assets.

Property and equipment


Property and equipment						Useful economic life
Leasehold improvements						Lesser of life of the asset or expected lease term
Furniture, fixture and office equipment						3 - 5 years
Computer equipment and software						3 years
Vehicles						3 - 5 years

Property and equipment assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is assessed by a comparison of the carrying amount of the asset to the estimated future undiscounted net cash flows expected to be generated by the asset. If estimated future undiscounted net cash flows are less than the carrying value of the asset, an impairment charge is recognized to the extent its carrying value exceeds its estimated fair value. The Company did not identify any impairments for the years ended June 30, 2023, 2022 or 2021.

Leases

The Company determines whether an arrangement contains a lease at inception in accordance with the provisions of Accounting Standards Codification (“ASC”) 842, Leases. Operating leases are included in operating lease assets and current and non-current lease liabilities, and assets leased under finance leases are included in property and equipment and current and non-current debt in the consolidated balance sheets.

Operating lease assets represent the Company’s right to use an underlying asset for the lease term, and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating leases with initial terms in excess of twelve months are recognized at the commencement date based on the present value of lease payments over the lease term. The operating lease asset is adjusted for lease incentives, prepaid lease payments and initial direct costs. Operating lease expense is recognized on a straight-line basis over the lease term in cost of services or selling, general and administrative expense, as applicable. The Company has lease agreements for office space with lease and non-lease components. The Company has elected to combine lease and non-lease components.

Certain of the Company’s lease agreements include rental payments that adjust periodically based on an index or rate, generally the applicable Consumer Price Index (“CPI”). The operating lease liability is measured using the prevailing index or rate at the measurement date (i.e., the commencement date). Incremental payments due to changes to the index- and rate-based lease payments are expensed as incurred.

For purposes of calculating operating lease liabilities, the lease term includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. The Company’s capital investment, relationships with clients serviced at the site, and employee recruitment potential are some of the factors it considers when determining whether it will exercise its option to extend a lease.

The Company determines the incremental borrowing rates based on information available at the lease commencement date. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Interest on finance leases is included in interest expense, net, in the consolidated statements of comprehensive income. We apply judgment in estimating the incremental borrowing rate including considering the term of the lease, the currency in which the lease is denominated, and the impact of collateral and our credit risk on the rate.

The Company has elected the short-term lease recognition exemption for all asset classes. Leases with a term of twelve months or less are expensed as incurred in the consolidated statements of comprehensive income as cost of services or selling, general and administrative expense as applicable. The Company did not have any material short-term leases for the periods presented.

For finance leases, the right of use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. The right of use asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of the useful life of the underlying asset or the end of the lease term. The lease liability is initially measured in the same manner and date as for operating leases and is subsequently measured at amortized cost using the effective interest method.

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. Goodwill is not amortized but is tested for impairment at the reporting unit level, on an annual basis or more frequently, if events occur or circumstances change indicating potential impairment. The Company annually tests goodwill for impairment on June 30. In evaluating goodwill for impairment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. Qualitative factors that the Company considers include, but are not limited to, macroeconomic and industry conditions, overall financial performance and other relevant entity-specific events. If the Company bypasses the qualitative assessment, or if the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company performs a quantitative goodwill impairment test to identify potential goodwill impairment and measures the amount of goodwill impairment it will recognize, if any.

In the quantitative goodwill impairment test, the Company compares the estimated fair value of the reporting unit with its related carrying value. If the estimated fair value exceeds the carrying amount, no further analysis is needed. If, however, the reporting unit’s estimated fair value is less than its carrying amount, the Company records an impairment for the difference between the estimated fair value and the carrying value.

The Company uses an internally developed discounted cash flow model that includes estimates of projected revenues, expenses and related cash flows based on assumed long-term growth rates and demand trends, expected future investments to grow new units, and estimated discount rates. The Company bases these assumptions on its historical data and experience, industry projections, and micro and macro general economic condition projections and expectations.

No impairments were recorded during the fiscal years ended June 30, 2023, 2022 or 2021.

Other intangible assets

The Company has indefinite-lived intangible assets consisting of trademarks. The Company evaluates indefinite-lived intangible assets for possible impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Similar to goodwill, the Company may first use a qualitative analysis to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired. The qualitative analysis will include a review of changes in economic, market and industry conditions, business strategy, and financial performance, among others, to determine if there would be a significant decline to the fair value of an indefinite-lived intangible asset. If a quantitative analysis is completed, an indefinite-lived intangible asset is evaluated for possible impairment by comparing the fair value of the asset with its carrying value. An impairment charge is recorded if the asset’s carrying value exceeds its estimated fair value. No impairments were recorded during the fiscal years ended June 30, 2023, 2022 or 2021.

Other intangible assets are included in other non-current assets on the consolidated balance sheets.

Derivatives

The Company accounts for financial derivative instruments under ASC 815, Derivatives and Hedging (“ASC 815”). The Company generally utilizes options with expirations of 12 months or less to reduce its foreign currency exposure due to exchange rate fluctuations on forecasted operating cash flows denominated in non-functional foreign currencies. The Company also entered into an interest rate swap to mitigate the effect of interest rate fluctuations. In using derivative financial instruments to hedge these exposures, the Company exposes itself to counterparty credit risk.

The Company designates these derivatives as cash flow hedges. To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated risk of the hedged item. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking various hedging activities. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective on a prospective and retrospective basis. When it is determined that a derivative has ceased to be a highly effective hedge or if a forecasted hedged item is no longer probable of occurring, or if the Company de-designates a derivative as a hedge, the Company discontinues hedge accounting and records all gains and losses in earnings.

For cash flow hedges, the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness is reported in AOCI until the hedged transaction affects earnings. At that time, this amount is reclassified from AOCI and recognized within cost of services or selling, general and administrative expenses, or interest expense, net, as applicable.

Cash flows related to derivative contracts are classified within the operating section in the consolidated statements of cash flows.

Commitments and Contingencies

The Company 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 on its consolidated financial position, results of operations, or cash flows, no assurances to that effect can be given based on the uncertainty of litigation and demands of third parties. The Company records a liability for pending litigation and claims where losses are both probable and can be reasonably estimated. Legal fees are expensed as incurred.

Employee benefits

(a)Defined contribution plans

The Company sponsors a 401(k) plan in the U.S. under which the Company makes matching contributions for eligible employees up to 4% of compensation. All Company matching contributions are immediately vested. The Company operates defined contribution plans in other countries as allowed or required by law.

For the years ending June 30, 2023, 2022, and 2021, the Company incurred plan expenses of $1.2 million, $1.0 million, and $0.8 million, respectively, which is recorded in selling, general and administrative expenses.

(b)Defined benefit plan

The Company records amounts relating to its defined benefit plans based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, assumed rates of return, compensation increases and turnover rates. Remeasurement changes are reflected in AOCI. Current service costs are recorded in the period to which they relate. Prior service cost, if any, resulting from an amendment to a plan is recognized and amortized over the remaining period of service of the covered employees.

The Company reviews and adjusts its assumptions annually based on current rates and trends. The Company believes that the assumptions utilized in recording its obligation under the plan are reasonable based on its experience and market conditions.

As of June 30, 2023 and 2022, defined benefit obligations of $1.2 million and $0.8 million, respectively, were included in other non-current liabilities in the consolidated balance sheets, and amounts recognized in the consolidated statements of comprehensive income for the years ended June 30, 2023, 2022, and 2021 were $0.4 million, $0.4 million, and $0.6 million, respectively.

Share-based compensation plans

The Company recognizes share-based compensation expense over the requisite vesting period using a graded vesting model. Awards to employees and directors may contain service, performance and/or market vesting conditions. For unvested awards with performance conditions, the Company assesses the probability of attaining the performance conditions at each reporting period. Awards that are deemed probable of attainment are recognized in expense over the requisite service period. The Company accounts for forfeitures as they occur.

Warrant to purchase common shares

The Company accounts for a warrant to purchase its common shares as an equity instrument in accordance with the provisions of Accounting Standard Update (“ASU”) No. 2019-08, Compensation – Stock Compensation (Topic 718) and ASC 606, Revenue from Contracts with Customers, which requires entities to measure and classify share-based payment awards granted to a customer by applying the guidance under Topic 718, as of January 1, 2019. On the grant date, the Company measured the warrant using a Black-Scholes option pricing model. There was no immediate vesting upon execution of the warrant. Contra-revenue and equity are recorded as revenue is recognized. The Company has elected a policy to estimate forfeitures for non-employee equity grants. At each reporting period, the Company assesses the likelihood of additional vesting in accordance with service or performance conditions included in the warrant terms. The Company revises its estimates for additional contra-revenue when it is probable that additional shares will vest.

Income taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are also recognized for the estimated future effects of tax loss carry forwards. The effect of changes in tax rates on deferred taxes is recognized in the period in which the enactment dates change.

We recognize deferred tax assets to the extent that we determine that these assets are more likely than not to be realized. In making such a determination, we consider the available positive and negative evidence, including future reversals of existing temporary differences, projected future taxable income, tax-planning strategies, carryback potential if permitted under the tax law, and results of recent operations. If we determine that we are able to realize our deferred tax assets in the future in excess of their net recorded amount, we will make an adjustment to the valuation allowance.

We record uncertain tax positions in accordance with ASC 740, Income Taxes, on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that met the more likely than not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.

We recognize interest and penalties related to uncertain tax positions in income tax expense in the consolidated statement of operations. Accrued interest and penalties are included on the related tax liability line in the consolidated balance sheets.

Share repurchase plans

The board of directors may authorize share repurchases of the Company’s common shares. Purchases made pursuant to these authorizations may be carried out through open market transactions, negotiated purchases or otherwise, at times and in such amounts as the Company deems appropriate. Shares repurchased under such authorizations are held in treasury for general corporate purposes, including issuances under various employee share-based award plans. When Company 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. See footnote 14 for more information on share repurchases.

Equity method investment

The Company uses the equity method to account for its investment in a company if the investment provides the Company with the ability to exercise significant influence over, but not control of, the operating and financial policies of the investee. The Company’s consolidated net income includes the Company’s proportionate share of the net income or loss of the investee. The Company’s judgment regarding the level of influence over its equity method investee includes considering key factors such as the Company’s ownership interest, representation on the board of directors and participation in policy-making decisions of the investee and material intercompany transactions. The Company has elected to classify distributions from its investee based on the cumulative earnings approach. See footnote 17 for more information.

Emerging Growth Company

The Company currently qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Accordingly, the Company has the option to adopt new or revised accounting guidance either (i) within the same periods as those otherwise applicable to non-emerging growth companies or (ii) within the same time periods as private companies pursuant to Section 13(a) of the Exchange Act. The Company has elected to use the extended transition period until we are no longer an emerging growth company or until we choose to opt out of the extended transition period affirmatively and irrevocably.

Recently Adopted Accounting Pronouncements

reassess a previous accounting determination. Entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met. The Company adopted the new guidance during the fourth quarter of fiscal year 2022 and the adoption had no effect on the financial statements or related disclosures during the year.

Overview and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Operating segments

Basis of presentation and principles of consolidation

Use of estimates

Foreign currency matters

Cash and cash equivalents

Trade receivables

Concentration of credit risk

Tax advances and receivables

Tax advances and receivables consist primarily of refundable sales and use taxes and income tax prepayments.

Other assets

Other current assets and other non-current assets consist primarily of refundable security deposits, loans and advances receivable, and derivative assets.

Property and equipment


Property and equipment						Useful economic life
Leasehold improvements						Lesser of life of the asset or expected lease term
Furniture, fixture and office equipment						3 - 5 years
Computer equipment and software						3 years
Vehicles						3 - 5 years

Leases

Goodwill

No impairments were recorded during the fiscal years ended June 30, 2023, 2022 or 2021.

Other intangible assets

Other intangible assets are included in other non-current assets on the consolidated balance sheets.

Derivatives

Cash flows related to derivative contracts are classified within the operating section in the consolidated statements of cash flows.

Commitments and Contingencies

Employee benefits

Defined contribution plansThe Company sponsors a 401(k) plan in the U.S. under which the Company makes matching contributions for eligible employees up to 4% of compensation. All Company matching contributions are immediately vested. The Company operates defined contribution plans in other countries as allowed or required by law.

(b)Defined benefit plan

Share-based compensation plans

The Company accounts for its share-based awards in accordance with provisions of ASC 718, Compensation - Stock Compensation. The Company calculates the fair value of option awards using the Black-Scholes model. For equity-classified awards, total compensation cost is based on the grant date fair value. For liability-classified awards, total compensation cost is based on the fair value of the award on the date the award is granted and is subsequently re-measured at each reporting date until settlement.The Company recognizes share-based compensation expense over the requisite vesting period using a graded vesting model. Awards to employees and directors may contain service, performance and/or market vesting conditions. For unvested awards with performance conditions, the Company assesses the probability of attaining the performance conditions at each reporting period. Awards that are deemed probable of attainment are recognized in expense over the requisite service period. The Company accounts for forfeitures as they occur.

Warrant to purchase common shares

Income taxes

Share repurchase plans

Equity method investment

Emerging growth company

Recently Adopted Accounting Pronouncements

In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting, which provided optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendment allows entities to elect not to apply certain modification accounting requirements to contracts affected by reference rate reform if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met. The Company adopted the new guidance during the fourth quarter of fiscal year 2022 and the adoption had no effect on the financial statements or related disclosures during the year.

Revenue from Contracts with Customers

The Company recognizes revenues for services for which control has transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring the promised services. This process involves identifying the customer contract, determining the performance obligations in the contract, determining the transaction price, allocating the transaction price to the distinct performance obligations in the contract, and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it (a) provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and (b) is separately identified in the contract. The Company considers a performance obligation satisfied as it provides services to a customer, meaning the customer has the ability to direct the use and obtain the benefit of the service.

Revenues from contact center services, which consist of customer service, technical support and other value-added outsourced back-office services, are recognized as the services are performed on the basis of the number of billable minutes or hours, contractual rates, and other contractually agreed metrics, if applicable. Certain of our client contracts include bonus and penalty provisions. Revenues related to training that occurs upon commencement of a new client contract or statement of work are deferred and recognized on a straight-line basis over the estimated life of the client program, as it is not considered to have a standalone value to the customer. The related expenses are expensed as incurred. Revenues are recognized over time as performance obligations are satisfied and in the period in which the Company has a right to invoice, net of discounts, incentives, and/or penalties as per contractual terms. Bonuses and penalties accrue for the current billing period and do not depend on future performance. In some cases, we may estimate these bonuses or penalties using the “most likely amount” method based on actual data and historical experience.

Revenues from digital services are recognized at a point in time upon the successful consumer activation or purchase of clients’ services. We utilize third parties in the satisfaction of this performance obligation; however, because we retain control over these third parties and are solely responsible for the risk and reward associated with this performance obligation, we have determined that we are the principal in these transactions and therefore recognize revenue on a gross basis.

Revenues from CX software-as-a-service products are recognized over time based on the term of the subscription. 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 term of the subscription. Revenues related to additional consulting services are recognized over the period as the related services are performed on a per hour basis.

All of our contracts include the right to invoice for services on a monthly basis. None of our contracts include significant termination penalties, and generally may be terminated for convenience at any time with a short notice period (generally 30 to 120 days).

The Company generally does not incur significant upfront costs to fulfill or obtain a contract that would qualify for capitalization under ASC 606.

Property and Equipment, Net

12 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

PROPERTY AND EQUIPMENT, NET

Property and equipment consists of the following:


	June 30, 2023		June 30, 2022
Leasehold improvements	$	37,356	$	33,277
Furniture & fixtures	31,228		29,986
Computer equipment	73,824		67,448
Software	21,057		19,556
Vehicles	1,779		1,295
Assets under construction	435		1,356
Property and equipment, gross	$	165,679	$	152,918
Less: Accumulated depreciation	(124,528)		(110,979)
Property and equipment, net	$	41,151	$	41,939

The following table presents the Company’s total property and equipment by geographic location:


	June 30, 2023		June 30, 2022
USA	$	10,751	$	10,476
Philippines	9,117		11,474
Pakistan	3,923		2,995
Jamaica	13,374		11,318
Nicaragua	3,421		4,948
Honduras	565		709
Senegal	—		19
Total	$	41,151	$	41,939

Depreciation expense, which includes depreciation expense for finance lease assets, for the Company was $19.0 million, $18.1 million, and $14.1 million for the years ended June 30, 2023, 2022, and 2021, respectively.

Leases

12 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

LEASES

The Company has operating lease obligations primarily for our delivery centers and finance lease obligations primarily for vehicles and other equipment. Leases typically have initial terms of two to thirteen years, and may include renewal options if the Company is reasonably certain to exercise such options.

The components of lease cost are as follows:


	June 30, 2023		June 30, 2022		June 30, 2021
Operating lease cost:
Operating lease cost	$	21,614	$	21,442	$	18,961
Variable lease cost	4,127		4,207		3,806
Total operating lease cost	25,741		25,649		22,767

Finance lease cost:
Amortization of right of use assets	446		375		2,541
Interest on lease liabilities	143		93		104
Total finance lease cost	$	589	$	468	$	2,645

The following table presents supplemental balance sheet information related to leases:


	June 30, 2023		June 30, 2022
Operating lease assets	$	70,919	$	83,094

Operating lease liabilities, current	13,036		13,808
Operating lease liabilities, non-current	64,854		75,994
Total operating lease liabilities	$	77,890	$	89,802

Finance lease assets, net	929		641

Finance lease liabilities, current	361		391
Finance lease liabilities, non-current	600		322
Total finance lease liabilities	$	961	$	713

The following table presents supplemental cash flow information related to leases:


	June 30, 2023		June 30, 2022		June 30, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	14,309	$	12,926	$	10,791
Operating cash flows paid for interest portion of finance leases	$	143	$	93	104
Financing cash flows paid for principal portion of finance leases	$	447	$	818	$	7,019

The following table presents supplemental noncash information related to leases:


	June 30, 2023	June 30, 2022
Right-of-use assets obtained in exchange for lease obligations
Operating leases	11,281	24,319
Finance leases	881	452


	June 30, 2023		June 30, 2022
Weighted average remaining lease term (in years)
Operating leases	5.7		5.8
Finance leases	2.6		3.0

Weighted average discount rate
Operating leases	9.2	%	9.0	%
Finance leases	13.4	%	12.2	%

The following table presents the maturities of our lease liabilities as of June 30, 2023:


Year Ending June 30	Operating Leases		Finance Leases
2024	$	19,162	$	496
2025	17,398		432
2026	15,966		220
2027	15,712		33
2028	12,785		—
Thereafter	19,587		—
Total undiscounted lease payments	100,610		1,181
Less: liability accretion	(22,720)		(220)
Total lease liabilities	77,890		$	961

Leases

LEASES

The components of lease cost are as follows:


	June 30, 2023		June 30, 2022		June 30, 2021
Operating lease cost:
Operating lease cost	$	21,614	$	21,442	$	18,961
Variable lease cost	4,127		4,207		3,806
Total operating lease cost	25,741		25,649		22,767

Finance lease cost:
Amortization of right of use assets	446		375		2,541
Interest on lease liabilities	143		93		104
Total finance lease cost	$	589	$	468	$	2,645

The following table presents supplemental balance sheet information related to leases:


	June 30, 2023		June 30, 2022
Operating lease assets	$	70,919	$	83,094

Operating lease liabilities, current	13,036		13,808
Operating lease liabilities, non-current	64,854		75,994
Total operating lease liabilities	$	77,890	$	89,802

Finance lease assets, net	929		641

Finance lease liabilities, current	361		391
Finance lease liabilities, non-current	600		322
Total finance lease liabilities	$	961	$	713

The following table presents supplemental cash flow information related to leases:


	June 30, 2023		June 30, 2022		June 30, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	14,309	$	12,926	$	10,791
Operating cash flows paid for interest portion of finance leases	$	143	$	93	104
Financing cash flows paid for principal portion of finance leases	$	447	$	818	$	7,019

The following table presents supplemental noncash information related to leases:


	June 30, 2023	June 30, 2022
Right-of-use assets obtained in exchange for lease obligations
Operating leases	11,281	24,319
Finance leases	881	452


	June 30, 2023		June 30, 2022
Weighted average remaining lease term (in years)
Operating leases	5.7		5.8
Finance leases	2.6		3.0

Weighted average discount rate
Operating leases	9.2	%	9.0	%
Finance leases	13.4	%	12.2	%

The following table presents the maturities of our lease liabilities as of June 30, 2023:


Year Ending June 30	Operating Leases		Finance Leases
2024	$	19,162	$	496
2025	17,398		432
2026	15,966		220
2027	15,712		33
2028	12,785		—
Thereafter	19,587		—
Total undiscounted lease payments	100,610		1,181
Less: liability accretion	(22,720)		(220)
Total lease liabilities	77,890		$	961

Revenue from Contracts with Customers - Revenue Disaggregated by Pattern of Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 124,431	$ 131,557	$ 139,325	$ 127,805	$ 523,118	$ 492,851	$ 443,388
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue					489,942	455,206	402,613
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue					$ 33,176	$ 37,645	$ 40,775

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Investment in Joint Venture (Tables)

12 Months Ended

Jun. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Summarized Financial Information for Joint Venture

The table below presents our investment in the joint venture:


	June 30,
	2023		2022
Opening balance	$	382	$	258
Dividends received	(725)		(1,027)
Share of profit	715		1,151
Ending balance	$	372	$	382

Revenue and comprehensive income of the joint venture is as follows:


	For the year ended June 30,
	2023		2022		2021
Revenue	$	7,802	$	6,455	$	4,342
Comprehensive income	$	1,537	$	1,792	$	1,215

Income Taxes - Major Components of the Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Current tax expense:
Federal	$ 385	$ 0	$ 1,350
State	487	647	1,051
Foreign	3,467	2,575	1,555
Total current expense	4,339	3,222	3,956
Deferred tax:
Federal	4,019	(3,759)	(1,036)
State	843	(1,025)	(717)
Foreign	(457)	(515)	(139)
Total deferred expense (benefit)	4,405	(5,299)	(1,892)
Provision for income tax expense (benefit)	$ 8,744	$ (2,077)	$ 2,064

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Schedule of Debt [Line Items]
Finance leases	$ 961	$ 713
Total debt	1,013	15,740
Less: Current maturities of long-term debt and finance leases	(413)	(15,079)
Total long-term debt, net	600	661
Revolving credit facility \| Revolving Credit Facility
Schedule of Debt [Line Items]
Debt	52	11,202
Demand loans
Schedule of Debt [Line Items]
Debt	0	1,626
Notes payable
Schedule of Debt [Line Items]
Debt	0	1,851
Loans
Schedule of Debt [Line Items]
Debt	$ 0	$ 348

Derivatives - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Derivatives - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2020	Nov. 30, 2013
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedge ineffectiveness		$ 50
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities
Loss reclassified, related to collars	$ 1,200	$ 300
Revolving Credit Facility \| PNC Credit Facility \| Revolving credit facility
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Term of long term debt	3 years			3 years
Maximum borrowing capacity		$ 80,000		$ 35,000
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 15,000		$ 15,000
Foreign currency collars, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 27,303
Minimum \| Foreign currency collars, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Term of contract	3 months
Maximum \| Foreign currency collars, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Term of contract	12 months

Investment in Joint Venture - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ 372	$ 382	$ 258
Lake Ball, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest in joint venture	47.50%

Income Taxes - Differences Between Statutory and Effective Tax Rates (Details)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal deduction	1.40%	3.00%	7.50%
Foreign rate differential	(5.70%)	(8.60%)	(13.50%)
Non-deductible expenses / exempt income	1.20%	1.50%	1.70%
Employment and other tax credits	(2.90%)	(7.70%)	(6.40%)
Prior year provision / other items	3.10%	0.40%	1.80%
Unrecognized losses utilized during the year	0.00%	(0.70%)	0.00%
Change in valuation allowance	3.60%	(19.60%)	1.50%
Effective tax rate percentage	21.70%	(10.70%)	13.60%

Share Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Phantom stock options
Share options
Beginning balance, outstanding (in shares)	187,673
Granted (in shares)	97,500
Exercised (in shares)	(63,089)
Forfeited / expired (in shares)	(10,734)
Ending balance, outstanding (in shares)	211,350	187,673
Weighted Average Exercise Price
Beginning balance, outstanding (in dollars per share)	$ 18.91
Granted (in dollars per share)	25.48
Exercised (in dollars per share)	17.18
Forfeited / expired (in dollars per share)	24.36
Ending balance, outstanding (in dollars per share)	$ 22.18	$ 18.91
Additional disclosures
Outstanding, Weighted average remaining contractual term (years)	8 years 4 months 17 days	7 years 2 months 23 days
Granted, Weighted average remaining contractual term (years)	9 years 8 months 1 day
Exercised, Weighted average remaining contractual term (years)	6 years 10 months 9 days
Exercised, Aggregate intrinsic value	$ 558
Forfeited / expired, Weighted average remaining contractual term (years)	8 years 11 months 8 days
Outstanding, Aggregate intrinsic value	$ 188
Vested and exercisable, Number of share options (in shares)	93,621
Vested and exercisable, Weighted average exercise price (in dollars per share)	$ 19.43
Vested and exercisable, Weighted average remaining contractual term (years)	7 years 4 months 2 days
Vested and exercisable, Aggregate intrinsic value	$ 169
Stock options
Share options
Beginning balance, outstanding (in shares)	921,972
Granted (in shares)	236,200
Exercised (in shares)	(122,946)
Forfeited / expired (in shares)	(93,627)
Ending balance, outstanding (in shares)	941,599	921,972
Weighted Average Exercise Price
Beginning balance, outstanding (in dollars per share)	$ 16.62
Granted (in dollars per share)	26.22
Exercised (in dollars per share)	16.79
Forfeited / expired (in dollars per share)	18.44
Ending balance, outstanding (in dollars per share)	$ 18.78	$ 16.62
Additional disclosures
Outstanding, Weighted average remaining contractual term (years)	7 years 10 months 20 days	7 years 4 months 2 days
Granted, Weighted average remaining contractual term (years)	9 years 8 months 1 day
Exercised, Weighted average remaining contractual term (years)	7 years 3 months 10 days
Exercised, Aggregate intrinsic value	$ 1,002
Forfeited / expired, Weighted average remaining contractual term (years)	7 years 3 months 3 days
Outstanding, Aggregate intrinsic value	$ 3,501
Vested and exercisable, Number of share options (in shares)	558,758
Vested and exercisable, Weighted average exercise price (in dollars per share)	$ 16.36
Vested and exercisable, Weighted average remaining contractual term (years)	7 years 1 month 28 days
Vested and exercisable, Aggregate intrinsic value	$ 2,721

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Preferred shares outstanding (in shares)		1
Dividend distribution to Series A preferred shareholder (in dollars per share)	$ 4,000,000

Warrant	12 Months Ended
Warrant	Jun. 30, 2023
Equity [Abstract]
Warrant	WARRANT On November 13, 2017, and as subsequently amended, the Company issued to Amazon.com NV Investment Holdings LLC, a subsidiary of Amazon.com, Inc. (“Amazon”), a 10-year warrant to acquire approximately 1,674,017 common shares, representing 10.0% of our equity on a fully diluted basis. The warrant is exercisable at a price per share of $9.42. The warrant provides for net share settlement, that if elected by the holder, will reduce the number of shares issued upon exercise to reflect the net settlement of the exercise price. The warrant is classified as an equity instrument in accordance with ASU No. 2019-08, which was adopted retroactively on July 1, 2020. The Company determined the grant date fair value of the warrant using the Black-Scholes option pricing model. 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. As of June 30, 2023 and 2022, 1,004,410 and 669,607 warrants were vested, respectively. To date, no warrants have been exercised, expired or been cancelled. The Company recorded contra revenue of approximately $1.1 million, $1.0 million, and $0.8 million during the years ended June 30, 2023, 2022, and 2021, respectively.

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Current assets
Cash and cash equivalents	$ 57,429	$ 48,831
Accounts receivable, net of allowance of $120 and $1,290	86,364	75,418
Prepaid expenses	6,616	7,135
Due from related parties	43	13
Tax advances and receivables	5,965	6,390
Other current assets	2,190	4,564
Total current assets	158,607	142,351
Non-current assets
Property and equipment, net	41,151	41,939
Operating lease assets	70,919	83,094
Goodwill	11,832	11,832
Deferred tax asset, net	4,585	9,276
Other non-current assets	6,230	5,688
Total non-current assets	134,717	151,829
Total assets	293,324	294,180
Current liabilities
Accounts payable and accrued liabilities	18,705	21,286
Accrued payroll and employee-related liabilities	29,360	33,453
Current deferred revenue	6,413	8,600
Current operating lease liabilities	13,036	13,808
Current maturities of long-term debt	413	15,079
Due to related parties	2,314	2,583
Income taxes payable	3,020	2,965
Total current liabilities	73,261	97,774
Non-current liabilities
Non-current deferred revenue	1,383	3,993
Non-current operating lease liabilities	64,854	75,994
Long-term debt	600	661
Other non-current liabilities	3,262	2,299
Total non-current liabilities	70,099	82,947
Total liabilities	143,360	180,721
Commitments and contingencies (Note 9)
Stockholders' equity
Common stock: par value $0.0001, 108,057,967 shares authorized, 18,280,419 and 18,246,391 shares outstanding as of June 30, 2023 and 2022, respectively	2	2
Additional paid-in capital	204,734	197,785
Treasury stock at cost: 245,447 and 227,888 shares as of June 30, 2023 and June 30, 2022, respectively	(3,682)	(3,406)
Accumulated other comprehensive loss	(6,312)	(4,562)
Accumulated deficit	(44,778)	(76,360)
Total stockholders' equity	149,964	113,459
Total liabilities and stockholders' equity	$ 293,324	$ 294,180

Leases (Tables)

12 Months Ended

Jun. 30, 2023

Leases [Abstract]

Components of Lease Cost and Supplemental Cash Flow Information

The components of lease cost are as follows:


	June 30, 2023		June 30, 2022		June 30, 2021
Operating lease cost:
Operating lease cost	$	21,614	$	21,442	$	18,961
Variable lease cost	4,127		4,207		3,806
Total operating lease cost	25,741		25,649		22,767

Finance lease cost:
Amortization of right of use assets	446		375		2,541
Interest on lease liabilities	143		93		104
Total finance lease cost	$	589	$	468	$	2,645

The following table presents supplemental cash flow information related to leases:


	June 30, 2023		June 30, 2022		June 30, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	14,309	$	12,926	$	10,791
Operating cash flows paid for interest portion of finance leases	$	143	$	93	104
Financing cash flows paid for principal portion of finance leases	$	447	$	818	$	7,019

The following table presents supplemental noncash information related to leases:


	June 30, 2023	June 30, 2022
Right-of-use assets obtained in exchange for lease obligations
Operating leases	11,281	24,319
Finance leases	881	452


	June 30, 2023		June 30, 2022
Weighted average remaining lease term (in years)
Operating leases	5.7		5.8
Finance leases	2.6		3.0

Weighted average discount rate
Operating leases	9.2	%	9.0	%
Finance leases	13.4	%	12.2	%

Supplemental Balance Sheet Disclosures

The following table presents supplemental balance sheet information related to leases:


	June 30, 2023		June 30, 2022
Operating lease assets	$	70,919	$	83,094

Operating lease liabilities, current	13,036		13,808
Operating lease liabilities, non-current	64,854		75,994
Total operating lease liabilities	$	77,890	$	89,802

Finance lease assets, net	929		641

Finance lease liabilities, current	361		391
Finance lease liabilities, non-current	600		322
Total finance lease liabilities	$	961	$	713

Operating lease maturity

The following table presents the maturities of our lease liabilities as of June 30, 2023:


Year Ending June 30	Operating Leases		Finance Leases
2024	$	19,162	$	496
2025	17,398		432
2026	15,966		220
2027	15,712		33
2028	12,785		—
Thereafter	19,587		—
Total undiscounted lease payments	100,610		1,181
Less: liability accretion	(22,720)		(220)
Total lease liabilities	77,890		$	961

Finance lease maturity

The following table presents the maturities of our lease liabilities as of June 30, 2023:


Year Ending June 30	Operating Leases		Finance Leases
2024	$	19,162	$	496
2025	17,398		432
2026	15,966		220
2027	15,712		33
2028	12,785		—
Thereafter	19,587		—
Total undiscounted lease payments	100,610		1,181
Less: liability accretion	(22,720)		(220)
Total lease liabilities	77,890		$	961

Investment in Joint Venture

12 Months Ended

Jun. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Investment in Joint Venture

INVESTMENT IN JOINT VENTURE

The Company has an investment in Lake Ball, LLC to procure and sell commercial leads for its customers. The Company’s ownership interest is 47.5% and is accounted for under the equity method. The Company’s investment of $0.4 million and $0.4 million at June 30, 2023 and 2022, respectively, is included in other non-current assets in the consolidated balance sheets, while net earnings from the joint venture is included in selling, general, and administrative expense in the consolidated statements of comprehensive income.

The table below presents our investment in the joint venture:


	June 30,
	2023		2022
Opening balance	$	382	$	258
Dividends received	(725)		(1,027)
Share of profit	715		1,151
Ending balance	$	372	$	382

Revenue and comprehensive income of the joint venture is as follows:


	For the year ended June 30,
	2023		2022		2021
Revenue	$	7,802	$	6,455	$	4,342
Comprehensive income	$	1,537	$	1,792	$	1,215

Debt

12 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Debt

DEBT

Debt consists of the following:


	June 30, 2023		June 30, 2022
Debt
Revolving credit facility	$	52	$	11,202
Demand loans	—		1,626
Notes payable	—		1,851
Loans	—		348
Finance leases	961		713
Total debt	$	1,013	$	15,740
Less: Current maturities of long-term debt and finance leases	(413)		(15,079)
Total long-term debt, net	$	600	$	661

Revolving credit facilities

PNC Credit Facility

In November 2013, the Company’s subsidiary, Ibex Global Solutions, Inc. (formerly known as TRG Customer Solutions, Inc.), entered into the three-year $35.0 million revolving credit facility with PNC (as amended, the “PNC Credit Facility”). Between June 2015 and March 2021, the PNC Credit Facility was amended multiple times for increases to the maximum revolving advance amount and extensions of the maturity date. In March 2021, the PNC Credit Facility was amended to join its wholly owned subsidiaries, Digital Globe Services, LLC, TelSatOnline, LLC and 7 Degrees, LLC as borrowers. In September 2021, the PNC Credit Facility was amended to join its wholly owned subsidiary, 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 also requires a commitment fee of 0.25% per annum of undrawn commitments to be paid quarterly in arrears. The PNC Credit Facility is guaranteed by IBEX Global Limited and secured by substantially all the assets of Ibex Global Solutions, Inc. and its wholly owned subsidiaries mentioned above. The line of credit balance as of June 30, 2023 and 2022 is $0.1 million and $11.2 million, respectively. As of June 30, 2023, the Company had $71.9 million of borrowing available based on eligible collateral.

The PNC Credit Facility contains certain financial, operating, and other covenants, including, among other things, covenants restricting additional borrowings, pay dividends and make certain investments. The Company was in compliance with all debt covenants as of June 30, 2023.

Notes payable

During fiscal year 2022, the Company has financed $1.0 million related to the purchase of various property and equipment at interest rates ranging from 5.4% to 9.76% per annum. As of June 30, 2023 and 2022, the balance of the notes were zero and $0.2 million, respectively.

In fiscal year 2022, the Company financed its insurance policies at interest rates ranging from 4.6% to 5% per annum. As of June 30, 2023 and 2022, the balance of the notes were zero and $1.7 million, respectively.

Demand Loans

In January 2018, the Company’s subsidiary IBEX Global Jamaica Limited entered into a $1.4 million non-revolving demand loan with First Global Bank Limited. As of June 30, 2023 and 2022 the balance of the loan was zero and $0.2 million, respectively.

In November 2018, the Company’s subsidiary IBEX Global Jamaica Limited entered into a $1.2 million non-revolving demand loan with First Global Bank Limited. As of June 30, 2023 and 2022, the balance of the loan was zero and $0.4 million, respectively.

In October 2019, the Company’s subsidiary, IBEX Global Jamaica Limited, entered into a $0.8 million non- revolving demand loan with First Global Bank Limited. As of June 30, 2023 and 2022, the balance of the loan was zero and $0.1 million, respectively.

In March 2020, the Company’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. As of June 30, 2023 and 2022, the balance of the $0.6 million non-revolving demand loan was zero and $0.2 million, respectively. As of June 30, 2023 and 2022, the balance of the $2 million non-revolving demand loan was zero and $0.7 million, respectively.

Loans

In May 2020, the Company’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 bears 3% interest per annum with a two year term. Repayment of the loan commenced in January 2021, and was paid in full in December 2022. As of June 30, 2023 and 2022, the balance of the loan was zero and $0.2 million, respectively.

In May 2020, the Company’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 bears 3% interest per annum with a two year term. Repayment of the loan commenced in January 2021, was paid in full in December 2022. As of June 30, 2023 and 2022, the balance of the loan was zero and $0.1 million, respectively.

Total interest expense of $0.2 million, $1.2 million, and $1.9 million has been recognized in the consolidated statements of comprehensive income for the years ended June 30, 2023, 2022, and 2021, respectively.

Income Taxes - Income Before Income Taxes by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
United States	$ 21,938	$ 1,996	$ 3,910
Foreign	18,388	17,383	11,243
Income before income taxes	$ 40,326	$ 19,379	$ 15,153

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Leases - Maturities of Operating and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Operating  Leases
2024	$ 19,162
2025	17,398
2026	15,966
2027	15,712
2028	12,785
Thereafter	19,587
Total undiscounted lease payments	100,610
Less: liability accretion	(22,720)
Total lease liabilities	77,890	$ 89,802
Finance  Leases
2024	496
2025	432
2026	220
2027	33
2028	0
Thereafter	0
Total undiscounted lease payments	1,181
Less: liability accretion	(220)
Total lease liabilities	$ 961	$ 713

Accounts Receivable and Significant Clients - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Receivables [Abstract]
Write-off of accounts receivable	$ 1,410	$ 0	$ 0

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 24, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Equity [Abstract]
Authorized amount of share buyback program					$ 20,000
Purchase of treasury shares (in shares)		17,558	227,889
Purchase of treasury shares		$ 276	$ 3,406
Dividends	$ 4,000	$ 0	$ 0	$ 4,000

Share Based Compensation - Components of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 4,606	$ 1,851	$ 5,361
Phantom Stock Plans
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	800	33	851
2018 Restricted Stock Award Plan
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	(7)	6	885
2020 Long term Incentive Plan
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	3,813	1,812	3,625
Cost of services
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	298	105	0
Selling, general and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 4,308	$ 1,746	$ 5,361

Revenue from Contracts with Customers - Breakdown of Revenues by Geographical Location (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 124,431	$ 131,557	$ 139,325	$ 127,805	$ 523,118	$ 492,851	$ 443,388
USA
Disaggregation of Revenue [Line Items]
Revenue					$ 509,170	476,092	428,557
USA \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of revenues					97.00%
Others
Disaggregation of Revenue [Line Items]
Revenue					$ 13,948	16,759	14,831
Onshore (United States)
Disaggregation of Revenue [Line Items]
Revenue					145,401	167,925	168,475
Offshore (Philippines, Pakistan)
Disaggregation of Revenue [Line Items]
Revenue					221,913	186,902	163,865
Nearshore (Jamaica, Nicaragua, Honduras)
Disaggregation of Revenue [Line Items]
Revenue					$ 155,804	$ 138,024	$ 111,048

Goodwill and Other Intangible Assets (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 11,832,000	$ 11,832,000
Goodwill impairment charges	0	0	$ 0
Indefinite lived intangible assets	700,000	700,000
Intangible asset impairment	$ 0	$ 0	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Weighted Average Share Counts

12 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Weighted Average Share Counts

WEIGHTED AVERAGE SHARE COUNTS

The following table sets forth the components of the computation from basic to diluted earnings per share for net income for the years ended June 30:


	2023	2022	2021
Shares used in basic earnings per share calculation	18,200	18,232	17,649
Effect of dilutive securities:
Employee share-based compensation	199	227	489
Warrant	495	265	220
Total effects of dilutive securities	694	492	709
Shares used in dilutive earnings per share calculation	18,893	18,724	18,359

Shares considered anti-dilutive using the treasury method	367	18	3

Share Based Compensation - Restricted Stock Unit Activity (Details) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Restricted Share Awards (RSA)
Shares
Beginning balance, unvested (in shares)	35,292
Granted (in shares)	0
Vested (in shares)	(28,902)
Forfeitures / cancellations / expirations (in shares)	(106)
Ending balance, unvested (in shares)	6,284	35,292
Weighted Average Grant Date Fair Value
Beginning balance, unvested (in dollars per share)	$ 0.61
Granted (in dollars per share)	0
Vested (in dollars per share)	0.61
Forfeitures / cancellations / expirations (in dollars per share)	0.61
Ending balance, unvested (in dollars per share)	$ 0.61	$ 0.61
Restricted Stock Units (RSU) and Performance-Based Restricted Stock Units (PRSU)
Shares
Beginning balance, unvested (in shares)	635,738
Granted (in shares)	0
Vested (in shares)	(30,557)
Forfeitures / cancellations / expirations (in shares)	(60,000)
Ending balance, unvested (in shares)	545,181	635,738
Weighted Average Grant Date Fair Value
Beginning balance, unvested (in dollars per share)	$ 16.68	$ 19.23
Granted (in dollars per share)	0
Vested (in dollars per share)	17.12	19.23	$ 19.23
Forfeitures / cancellations / expirations (in dollars per share)	20.11
Ending balance, unvested (in dollars per share)	$ 16.28	$ 16.68	$ 19.23

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2023	Jun. 30, 2021
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP	BDO LLP
Auditor Firm ID	34	1295
Auditor Location	Tampa, Florida	Reading, United Kingdom

Overview and Summary of Significant Accounting Policies - Narrative (Details) interaction in Millions	12 Months Ended
	Jun. 30, 2023 USD ($) interaction segment	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments \| segment	1
Number of reportable segments \| segment	1
Number of interactions managed per year \| interaction	176
Impairments, property and equipment	$ 0	$ 0	$ 0
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current maturities of long-term debt	Current maturities of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total long-term debt, net	Total long-term debt, net
Goodwill impairment charges	$ 0	$ 0	0
Intangible asset impairment	$ 0	0	0
Employer matching contribution, percent of compensation	4.00%
Plan expenses	$ 1,200,000	1,000,000.0	800,000
Defined benefit obligations	1,200,000	800,000
Defined benefit pension costs	$ 400,000	$ 400,000	$ 600,000

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes by Component

Income before income taxes includes the following components:


	2023		2022		2021
United States	21,938		1,996		3,910
Foreign	18,388		17,383		11,243
Total	$	40,326	$	19,379	$	15,153

Schedule of Major Components of the Provision for Income Tax Expense (Benefit)

The major components of the provision for income tax expense (benefit) are as follows:


	June 30, 2023		June 30, 2022		June 30, 2021
Current tax expense:
Federal	$	385	$	—	$	1,350
State	487		647		1,051
Foreign	3,467		2,575		1,555
Total current expense	$	4,339	$	3,222	$	3,956

Deferred tax:
Federal	4,019		(3,759)		(1,036)
State	843		(1,025)		(717)
Foreign	(457)		(515)		(139)
Total deferred expense (benefit)	$	4,405	$	(5,299)	$	(1,892)

Provision for income tax expense (benefit)	$	8,744	$	(2,077)	$	2,064

Schedule of Differences Between Statutory and Effective Tax Rates

Differences between U.S. federal statutory income tax rates and our effective tax rates for the years ended June 30, 2023, 2022, and 2021 are as follows:


	June 30, 2023		June 30, 2022		June 30, 2021

U.S. federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal deduction	1.4	%	3.0	%	7.5	%
Foreign rate differential	(5.7)	%	(8.6)	%	(13.5)	%
Non-deductible expenses / exempt income	1.2	%	1.5	%	1.7	%
Employment and other tax credits	(2.9)	%	(7.7)	%	(6.4)	%
Prior year provision / other items	3.1	%	0.4	%	1.8	%
Unrecognized losses utilized during the year	—	%	(0.7)	%	—	%
Change in valuation allowance	3.6	%	(19.6)	%	1.5	%
Effective tax rate percentage	21.7	%	(10.7)	%	13.6	%

Schedule of Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities included in the consolidated balance sheets are as follows:


	June 30, 2023		June 30, 2022
Deferred tax assets
Provision for doubtful accounts	$	99	$	74
Provision for employee benefits and other expenses	755		1,147
Tax credit carryforwards	2,427		2,454
Section 174 research and development capitalization	589		—
Net operating losses	2,394		8,748
Property and equipment, net	534		264
Intangible assets	3		—
Lease liability (right of use assets)	6,546		7,392
Net unrealized loss on hedging	56		218
Total deferred tax assets	$	13,403	$	20,297
Valuation allowance	(1,463)		(2,942)
Total deferred tax assets, net of valuation allowance	$	11,940	$	17,355

Deferred tax liabilities
Property and equipment, net	(732)		(507)
Right of use assets	(5,440)		(6,374)
Intangible assets	(1,184)		(1,199)
Total deferred tax liabilities	$	(7,356)	$	(8,080)

Net deferred tax assets and liabilities	$	4,584	$	9,275

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 31,582	$ 21,456	$ 13,089
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,985	18,100	14,118
Noncash lease expense	14,456	14,066	11,958
Warrant contra revenue	1,090	970	791
Deferred income tax	4,529	(5,170)	(1,914)
Share-based compensation expense	4,606	1,851	5,361
Allowance of expected credit losses	295	0	291
Loss / (gain) on lease terminations	251	0	(634)
Gain on sale of subsidiaries	(246)	0	0
Change in assets and liabilities:
(Increase) / decrease in accounts receivable	(12,297)	(9,705)	(13,333)
(Increase) / decrease in prepaid expenses and other current assets	1,467	3,551	(2,033)
Increase / (decrease) in accounts payable and accrued liabilities	(3,753)	2,307	(4,009)
Increase / (decrease) in deferred revenue	(4,797)	5,506	3,183
Decrease in operating lease liabilities	(14,309)	(12,926)	(10,791)
Net cash inflow from operating activities	41,859	40,006	16,077
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(18,952)	(25,919)	(20,823)
Cash outflow from sale of subsidiaries, net of cash received	(85)	0	0
Net cash outflow from investing activities	(19,037)	(25,919)	(20,823)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit	43,448	88,117	116,026
Repayments of line of credit	(54,597)	(99,227)	(115,189)
Proceeds from debt	0	0	1,714
Repayment of related party loan	0	0	(1,614)
Repayment of debt	(3,795)	(6,834)	(11,080)
Net proceeds from initial public offering	0	0	63,107
Listing costs related to the initial public offering	0	0	(1,074)
Proceeds from the exercise of options	2,053	35	28
Financing cash flows paid for principal portion of finance leases	(447)	(818)	(7,019)
Purchase of treasury shares	(276)	(3,406)	0
Dividend distribution	0	0	(4,000)
Net cash (outflow) / inflow from financing activities	(13,614)	(22,133)	40,899
Effects of exchange rate difference on cash and cash equivalents	(610)	(965)	(181)
Net increase / (decrease) in cash and cash equivalents	8,598	(9,011)	35,972
Cash and cash equivalents at beginning of the year	48,831	57,842	21,870
Cash and cash equivalents at end of the year	57,429	48,831	57,842
Supplemental cash flow disclosures
Cash paid for interest	152	1,246	1,892
Cash paid for income taxes	4,283	2,160	5,665
Supplemental non-cash disclosures
Change in accounts payable related to fixed assets	$ (621)		$ (849)
Change in accounts payable related to fixed assets		$ 1,631

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Deferred tax assets
Provision for doubtful accounts	$ 99	$ 74
Provision for employee benefits and other expenses	755	1,147
Tax credit carryforwards	2,427	2,454
Section 174 research and development capitalization	589	0
Net operating losses	2,394	8,748
Property and equipment, net	534	264
Intangible assets	3	0
Lease liability (right of use assets)	6,546	7,392
Net unrealized loss on hedging	56	218
Total deferred tax assets	13,403	20,297
Valuation allowance	(1,463)	(2,942)
Total deferred tax assets, net of valuation allowance	11,940	17,355
Deferred tax liabilities
Property and equipment, net	(732)	(507)
Right of use assets	(5,440)	(6,374)
Intangible assets	(1,184)	(1,199)
Total deferred tax liabilities	(7,356)	(8,080)
Net deferred tax assets and liabilities	$ 4,584	$ 9,275

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common shares	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income / (Loss)	Accumulated Deficit
Balance, beginning of period at Jun. 30, 2020	$ 12
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred share conversion upon initial public offering on August 7, 2020	(12)
Balance, beginning of period (in shares) at Jun. 30, 2020		1,842,000
Balance, beginning of period at Jun. 30, 2020	18,718	$ 0	$ 0	$ 127,710	$ (2,087)	$ (106,905)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend distribution to Series A preferred shareholder, 1 share, $4,000 per share	(4,000)					(4,000)
Preferred share conversion upon initial public offering on August 7, 2020 (in shares)		12,985,000
Preferred share conversion upon initial public offering on August 7, 2020	12	$ 2		10
Shares issued through initial public offering on August 7, 2020 (in shares)		3,571,000
Shares issued through initial public offering on August 7, 2020	61,912			61,912
Net income	13,089					13,089
Foreign currency translation adjustment	(650)				(650)
Changes in fair value of cash flow hedges	202				202
Issue of common shares related to option issuances (in shares)		1,000
Issue of common shares related to option issuances	28			28
Provision for common stock warrants	791			791
Changes in defined benefit plan	137				137
Stock based compensation expense	4,510			4,510
Balance, end of period (in shares) at Jun. 30, 2021		18,399,000
Balance, end of period at Jun. 30, 2021	94,749	$ 2	0	194,961	(2,398)	(97,816)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	21,456					21,456
Foreign currency translation adjustment	(2,281)				(2,281)
Changes in fair value of cash flow hedges	(323)				(323)
Issue of common shares related to option issuances (in shares)		3,000
Issue of common shares related to option issuances	35			35
Provision for common stock warrants	$ 970			970
Purchase of treasury shares (in shares)	(227,889)	(228,000)
Purchase of treasury shares	$ (3,406)		(3,406)
Changes in defined benefit plan	440				440
Issue of restricted common shares (in shares)		73,000
Issue of restricted common shares	0
Stock based compensation expense	$ 1,818			1,818
Balance, end of period (in shares) at Jun. 30, 2022	18,246,391	18,247,000
Balance, end of period at Jun. 30, 2022	$ 113,459	$ 2	(3,406)	197,785	(4,562)	(76,360)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31,582					31,582
Foreign currency translation adjustment	(2,234)				(2,234)
Changes in fair value of cash flow hedges	515				515
Issue of common shares related to option issuances (in shares)		123,000
Issue of common shares related to option issuances	2,053			2,053
Provision for common stock warrants	$ 1,090			1,090
Purchase of treasury shares (in shares)	(17,558)	(18,000)
Purchase of treasury shares	$ (276)		(276)
Changes in defined benefit plan	$ (31)				(31)
Forfeiture of restricted common shares (in shares)	(72,000)
Stock based compensation expense	$ 3,806			3,806
Balance, end of period (in shares) at Jun. 30, 2023	18,280,419	18,280,000
Balance, end of period at Jun. 30, 2023	$ 149,964	$ 2	$ (3,682)	$ 204,734	$ (6,312)	$ (44,778)

Derivatives

12 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES

Cash flow hedges

Interest rate swap

In March 2020, the Company entered into a $15 million notional floating to fixed interest-rate swap to hedge the interest rate risk on the first $15 million of the balance outstanding under our three-year $35.0 million revolving credit facility (as amended, the “PNC Credit Facility”) with PNC Bank, N.A. (“PNC”). 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, 2023 there was no hedge ineffectiveness. For the year ended June 30, 2022, due to a decline in the line of credit balance, the Company recorded $0.05 million of hedge ineffectiveness, which is included in interest expense, net. For the year ended June 30, 2021 there was no hedge ineffectiveness. The hedge expired by its terms in March 2023 and was not replaced.

The Company has elected the optional expedients under ASC 848, which allows companies to continue applying hedge accounting, without de-designation, when one or more critical terms of the hedging relationship change, or is expected to change, due to reference rate reform. 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 and the Company continued to apply hedge accounting.

The fair value of the interest rate swap is recorded in other current assets in the consolidated balance sheets as of June 30, 2023 and 2022:


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

Foreign exchange contracts

During the two years ended June 30, 2023 and 2022, the Company entered into foreign currency exchange contracts, consisting of offsetting foreign exchange option contracts (“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 collars were designated as cash flow hedges upon inception, in accordance with ASC 815, in order to match the financial results of the hedges with the forecasted transactions. These contracts cover periods commensurate with the expected exposure, generally three to twelve months. We execute our contracts with our primary banking partner, PNC. The Company has not experienced and does not anticipate experiencing any issues related to derivative counterparty defaults.

The following table shows the notional amount and fair value of our foreign exchange cash flow hedging instruments as of June 30, 2023 and 2022:

Settlement date

Hedged
currency

Foreign
currency rate

Notional
amount

Fair Value

Foreign currency option contracts - liabilities

July 6, 2023 through June 21, 2024

PHP

52.50 - 57.90

27,303

Fair value as of June 30, 2022

981

Fair value as of June 30, 2023

100

The fair value of the collars are included in accounts payable and accrued liabilities in the consolidated balance sheets.

Changes in the fair value of derivatives that are designated and qualify as cash flow hedges are recognized in AOCI. Amounts previously recognized in AOCI are reclassified to expense in the periods in which the hedged expenses occur. During the years ended June 30, 2023 and 2022, the Company reclassified a loss of $1.2 million and $0.3 million, respectively, related to its collars in cost of services.

The table below summarizes the aggregate unrealized net gain or loss in AOCI for the three years ended June 30:


	June 30, 2023		June 30, 2022		June 30, 2021
Aggregate unrealized net loss at beginning of period	$	857	$	316	$	518
Add: Net loss / (gain) from change in fair value of cash flow hedges	524		860		(202)
Less: Net loss reclassified to earnings from effective hedges	(1,201)		(319)		—
Aggregate unrealized net loss at end of period	$	180	$	857	$	316

Share Based Compensation - Estimates and Assumptions in Valuation (Details)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Phantom stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Volatility, minimum	33.41%	32.60%	32.23%
Volatility, maximum	36.33%	37.20%	44.29%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate, minimum	4.05%	3.01%	0.25%
Risk-free interest rate, maximum	4.87%	3.03%	1.04%
Phantom stock options \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	1 year 4 months 24 days	1 year 4 months 24 days	1 year 7 months 24 days
Phantom stock options \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	6 years 1 month 13 days	5 years 7 months 28 days	5 years 7 months 28 days
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	6 years 1 month 13 days
Volatility, minimum	32.89%	31.30%	29.40%
Volatility, maximum	33.39%	31.54%	47.70%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate, minimum	3.75%	1.28%	0.57%
Risk-free interest rate, maximum	4.11%	2.00%	1.20%
Stock options \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term		6 years 29 days	5 years 3 months 18 days
Stock options \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term		7 years	10 years

Derivatives - Aggregate Unrealized Net Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Aggregate unrealized net loss at beginning of period	$ (113,459)	$ (94,749)	$ (18,718)
Aggregate unrealized net loss at end of period	(149,964)	(113,459)	(94,749)
Derivative Valuation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Aggregate unrealized net loss at beginning of period	639	316	518
Aggregate unrealized net loss at end of period	124	639	316
Derivative Valuation \| Foreign currency collars, net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Aggregate unrealized net loss at beginning of period	857	316	518
Add: Net loss / (gain) from change in fair value of cash flow hedges	524	860	(202)
Less: Net loss reclassified to earnings from effective hedges	1,201	319	0
Aggregate unrealized net loss at end of period	$ 180	$ 857	$ 316

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

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-Subparagraph (SX 210.6-09(7))
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+ Details

Income Taxes

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Income before income taxes includes the following components:


	2023		2022		2021
United States	21,938		1,996		3,910
Foreign	18,388		17,383		11,243
Total	$	40,326	$	19,379	$	15,153

The major components of the provision for income tax expense (benefit) are as follows:


	June 30, 2023		June 30, 2022		June 30, 2021
Current tax expense:
Federal	$	385	$	—	$	1,350
State	487		647		1,051
Foreign	3,467		2,575		1,555
Total current expense	$	4,339	$	3,222	$	3,956

Deferred tax:
Federal	4,019		(3,759)		(1,036)
State	843		(1,025)		(717)
Foreign	(457)		(515)		(139)
Total deferred expense (benefit)	$	4,405	$	(5,299)	$	(1,892)

Provision for income tax expense (benefit)	$	8,744	$	(2,077)	$	2,064

The Company’s income tax provision includes the results of the Company’s U.S. operations and its various foreign operations including subsidiaries based in the United Kingdom, European Union, Canada, Jamaica, Nicaragua, Pakistan, Senegal, Honduras, and the Philippines. The Company’s Bermuda-based companies are not subject to income tax as there is no corporate income tax in Bermuda.

Differences between U.S. federal statutory income tax rates and our effective tax rates for the years ended June 30, 2023, 2022, and 2021 are as follows:


	June 30, 2023		June 30, 2022		June 30, 2021

U.S. federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal deduction	1.4	%	3.0	%	7.5	%
Foreign rate differential	(5.7)	%	(8.6)	%	(13.5)	%
Non-deductible expenses / exempt income	1.2	%	1.5	%	1.7	%
Employment and other tax credits	(2.9)	%	(7.7)	%	(6.4)	%
Prior year provision / other items	3.1	%	0.4	%	1.8	%
Unrecognized losses utilized during the year	—	%	(0.7)	%	—	%
Change in valuation allowance	3.6	%	(19.6)	%	1.5	%
Effective tax rate percentage	21.7	%	(10.7)	%	13.6	%

We have been granted “Tax Holidays” as an incentive to attract foreign investment by the governments of Nicaragua, Pakistan, and certain qualifying locations in the Philippines. Generally, a Tax Holiday is an agreement between us and a foreign government under which we receive certain tax benefits in that country. In Pakistan, we have been granted approval for an indefinite exemption from income taxes on all exported IT services. In Nicaragua, we have been granted approval of exemption from income taxes until 2025, which can be extended for another 10 years upon application. The Tax Holidays for our qualifying Philippines facilities expire at staggered dates through 2031. Our Tax Holidays could be eliminated if there are future changes in our operations or the governmental authorities approve legislation to modify the Tax Holidays in the various taxing jurisdictions. The aggregate reduction in income tax expense due to the above Tax Holidays was $3.4 million, $2.7 million, and $0.8 million and for the years ended June 30, 2023, 2022, and 2021, respectively. The aggregate reduction in income tax expense per diluted share was $0.18, $0.15, and $0.04 for the years ended June 30, 2023, 2022, and 2021, respectively.

Significant components of deferred tax assets and liabilities included in the consolidated balance sheets are as follows:


	June 30, 2023		June 30, 2022
Deferred tax assets
Provision for doubtful accounts	$	99	$	74
Provision for employee benefits and other expenses	755		1,147
Tax credit carryforwards	2,427		2,454
Section 174 research and development capitalization	589		—
Net operating losses	2,394		8,748
Property and equipment, net	534		264
Intangible assets	3		—
Lease liability (right of use assets)	6,546		7,392
Net unrealized loss on hedging	56		218
Total deferred tax assets	$	13,403	$	20,297
Valuation allowance	(1,463)		(2,942)
Total deferred tax assets, net of valuation allowance	$	11,940	$	17,355

Deferred tax liabilities
Property and equipment, net	(732)		(507)
Right of use assets	(5,440)		(6,374)
Intangible assets	(1,184)		(1,199)
Total deferred tax liabilities	$	(7,356)	$	(8,080)

Net deferred tax assets and liabilities	$	4,584	$	9,275

The Company had U.S. gross federal net operating loss carry forwards of zero and $18.9 million, as of June 30, 2023 and 2022, respectively, and gross state net operating loss carry forwards of approximately $15.1 million and $32.2 million, as of June 30, 2023 and 2022, respectively, which may be available to offset state income tax liabilities in the future. The state net operating losses will expire based on each state income tax laws. The Company’s Canadian subsidiary has net operating loss carry forward of $2.1 million and $2.2 million as of June 30, 2023 and 2022, respectively, which will begin to expire in 2028. The Company’s UK and European subsidiaries have net operating loss carry forward of $3.4 million and $6.5 million, as of June 30, 2023 and 2022, respectively, which can be carried forward indefinitely. These amounts are estimated amounts for the year ended June 30, 2023, and based on the income tax returns filed for the year ended June 30, 2022.

The Company assesses the available positive and negative evidence whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets.

On the basis of this evaluation, valuation allowances of $1.5 million and $2.9 million have been recorded as of June 30, 2023 and 2022, respectively, to recognize only the portion of the Company’s deferred tax assets that are expected to be realized in certain foreign taxing jurisdictions. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present.

We do not provide for deferred taxes on the excess of the financial reporting basis over the tax basis in our investments in foreign subsidiaries that are essentially permanent in duration or not subject to taxation in the U.S. or in the local country.

The Company 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 Company 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 income tax expense.

Under accounting standards for uncertainty in income taxes (ASC 740-10), a company recognizes a tax benefit in the financial statements for an uncertain tax position only if management’s assessment is that the position is “more likely than not” (i.e., a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term “tax position” in the accounting standards for income taxes refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods.

There were no unrecognized tax benefits in the years ended June 30, 2023, 2022, and 2021 that, if recognized, would affect the Company’s effective tax rate. We recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense/(benefit). We have not recorded any interest expense or penalties in income tax expense for the years ended June 30, 2023, 2022 and 2021. We do not have any interest or penalties accrued as of June 30, 2023 and 2022.

We file numerous consolidated and separate income tax returns in the U.S. federal and various state jurisdictions as well as in various foreign jurisdictions. Our U.S. federal returns and most state returns for tax years 2019 and forward are subject to examination. Tax return filings in the United Kingdom for the year ended June 2019 and onward are still open for examination. Tax return filings in Canada for the year ended June 2020 and onward are still open for examination. Tax return filings in Luxembourg for the year ended June 2018 and onward are still open for examination as well as Cyprus tax returns for their tax years ending June 2017.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Leases - Narrative (Details)	Jun. 30, 2023
Minimum
Lessee, Lease, Description [Line Items]
Lease term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term	13 years

Revenue from Contracts with Customers

12 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

REVENUE FROM CONTRACTS WITH CUSTOMERS

The Company generally does not incur significant upfront costs to fulfill or obtain a contract that would qualify for capitalization under ASC 606.

Disaggregation of Revenue

The majority of the Company’s revenues are derived from contracts with customers who are located in the United States. However, the Company delivers most of its services from geographies outside of the United

States. Our global delivery model is built on regional customer experience delivery centers and includes a unique ability to support work-at-home capabilities in any region.

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


	June 30, 2023		June 30, 2022		June 30, 2021
Revenue
United States	$	509,170	$	476,092	$	428,557
Others	13,948		16,759		14,831
Total	$	523,118	$	492,851	$	443,388

The following table presents the breakdown of the Company’s revenues by geographical location, based on where the services are provided, for the years ended:


	June 30, 2023		June 30, 2022		June 30, 2021
Revenue
Onshore (United States)	$	145,401	$	167,925	$	168,475
Offshore (Philippines, Pakistan)	221,913		186,902		163,865
Nearshore (Jamaica, Nicaragua, Honduras)	155,804		138,024		111,048
Total	$	523,118	$	492,851	$	443,388

The following table presents the breakdown of the Company’s revenue by pattern of revenue recognition for the years ended:


	June 30, 2023		June 30, 2022		June 30, 2021
Pattern of Revenue recognition
Services transferred over time	$	489,942	$	455,206	$	402,613
Services transferred at a point in time	33,176		37,645		40,775
	$	523,118	$	492,851	$	443,388

The movement in the deferred revenue is as follows:


	June 30, 2023		June 30, 2022
Opening balance	$	12,593	$	7,087
Revenue recognized during the year	(11,329)		(5,592)
Revenue deferred during the year	6,532		11,098
Closing balance	$	7,796	$	12,593

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash flow hedge - interest rate swap	$ 0	$ 0
Total assets	0	0
Cash flow hedge - foreign currency collars, net	0	0
Total liabilities	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash flow hedge - interest rate swap	0	170
Total assets	0	170
Cash flow hedge - foreign currency collars, net	100	981
Total liabilities	1,273	1,913
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash flow hedge - interest rate swap	0	0
Total assets	0	0
Cash flow hedge - foreign currency collars, net	0	0
Total liabilities	0	0
Phantom stock options \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Phantom stock options	0	0
Phantom stock options \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Phantom stock options	1,173	932
Phantom stock options \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Phantom stock options	$ 0	$ 0

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Mr. Bruce Dawson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 9, 2023, Mr. Bruce Dawson, the Company’s Chief Sales and Client Services Officer adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 27,000 shares of the Company’s common stock between September 15, 2023 and June 14, 2024, subject to such shares reaching certain price points.
Name	Mr. Bruce Dawson
Title	Chief Sales and Client Services Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 9, 2023
Arrangement Duration	273 days
Aggregate Available	27,000	27,000

Fair Value

12 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value

FAIR VALUE

The fair value hierarchy prioritized the input to valuation techniques used to measure fair value. The hierarchy requires that the Company maximize the use of observable inputs and minimize the use of unobservable inputs. The levels of the fair value hierarchy are as follows:

Level 1: Quoted prices for identical instruments traded in active markets.

Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3: Unobservable inputs that cannot be supported by market activity and that are significant to the fair value of the asset, liability, or equity such as the use of certain pricing models, discounted cash flow models and similar techniques that use significant unobservable inputs.

The carrying value of our cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, accrued payroll and employee-related liabilities, approximate fair value because of their short-term nature. The Company measures its debt at carrying value including accrued interest, which approximates fair value because of its short-term nature.

Derivatives designated as cash flow hedges

The values of our derivative instruments are derived from pricing models using inputs based upon market information, including contractual terms, market prices and yield curves. The inputs to the valuation pricing models are observable in the market, and as such the derivatives are classified as Level 2 in the fair value hierarchy.

Phantom stock awards

The Company uses the Black-Scholes option pricing model to value our phantom stock awards. All inputs to the model are derived from active market information for identical or similar instruments, including stock price, volatility, and interest rates. The inputs to the valuation pricing models are observable in the market, and as such the phantom stock awards are classified as Level 2 in the fair value hierarchy.

The following is a summary of the Company’s fair value measurements on a recurring basis as of June 30, 2023 and 2022:


	Fair Value Measurements Using
As of June 30, 2023	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash flow hedge - interest rate swap	$	—	$	—	$	—
Total assets	$	—	$	—	$	—

Liabilities
Cash flow hedge - foreign currency collars, net	$	—	$	100	$	—
Phantom stock options	—		1,173		—
Total liabilities	$	—	$	1,273	$	—


	Fair Value Measurements Using
As of June 30, 2022	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash flow hedge - interest rate swap	$	—	$	170	$	—
Total assets	$	—	$	170	$	—

Liabilities
Cash flow hedge - foreign currency collars, net	$	—	$	981	$	—
Phantom stock options	—		932		—
Total liabilities	$	—	$	1,913	$	—

These balances are included in other current assets and other current and non-current liabilities, as applicable, in the consolidated balance sheets.

There were no transfers between the different hierarchy levels in the years ended June 30, 2023 and 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Jun. 30, 2023	Sep. 01, 2023	Dec. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--06-30
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-38442
Entity Registrant Name	IBEX LIMITED
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	1717 Pennsylvania Avenue NW
Entity Address, Address Line Two	Suite 825
Entity Address, Postal Zip Code	20006
Entity Address, City or Town	Washington
Entity Address, State or Province	DC
City Area Code	(202)
Local Phone Number	580-6200
Title of 12(b) Security	Common shares, par value of $0.0001
Trading Symbol	IBEX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 289.4
Entity Common Stock, Shares Outstanding		18,303,853
Documents Incorporated by Reference	Portions of our definitive proxy statement relating to our next Annual Meeting of Stockholders are incorporated herein by references in Part III of this Annual Report on Form 10-K to the extent stated herein. Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of our fiscal year ended June 30, 2023.
Entity Central Index Key	0001720420
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 14,309	$ 12,926	$ 10,791
Operating cash flows paid for interest portion of finance leases	143	93	104
Financing cash flows paid for principal portion of finance leases	447	818	$ 7,019
Right-of-use assets obtained in exchange for lease obligations
Operating leases	11,281	24,319
Finance leases	$ 881	$ 452
Weighted average remaining lease term (in years)
Operating leases	5 years 8 months 12 days	5 years 9 months 18 days
Finance leases	2 years 7 months 6 days	3 years
Weighted average discount rate
Operating leases	9.20%	9.00%
Finance leases	13.40%	12.20%

Share Based Compensation (Tables)

12 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Components of Share-Based Compensation Expense

The following tables summarize the components of share-based compensation expense recognized in the Company’s consolidated statements of comprehensive income, both by line item and by plan:


	Year ended June 30,
	2023		2022		2021
Cost of services	$	298	$	105	$	—
Selling, general and administrative	4,308		1,746		5,361
Total stock compensation expense	$	4,606	$	1,851	$	5,361

	Year ended June 30,
	2023		2022		2021
Phantom Stock Plans	$	800	$	33	$	851
2018 Restricted Stock Award Plan	$	(7)	$	6	$	885
2020 Long term Incentive Plan	$	3,813	$	1,812	$	3,625
Total stock compensation expense	$	4,606	$	1,851	$	5,361

Summary of Stock Option Activity

The following table summarizes the phantom stock option activity for the year ended June 30, 2023:


	Share options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate intrinsic value (thousands)
Outstanding as of June 30, 2022	187,673	$	18.91	7.23
Granted	97,500	25.48		9.67
Exercised	(63,089)	17.18		6.86	$	558
Forfeited / expired	(10,734)	24.36		8.94
Outstanding as of June 30, 2023	211,350	$	22.18	8.38	$	188
Vested and exercisable as of June 30, 2023	93,621	$	19.43	7.34	$	169

The following table summarizes the stock option activity for the year ended June 30, 2023:


	Share options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate intrinsic value (thousands)
Outstanding as of June 30, 2022	921,972	$	16.62	7.34
Granted	236,200	26.22		9.67
Exercised	(122,946)	16.79		7.28	$	1,002
Forfeited / expired	(93,627)	18.44		7.26
Outstanding as of June 30, 2023	941,599	18.78		7.89	$	3,501
Vested and exercisable as of June 30, 2023	558,758	$	16.36	7.16	$	2,721

Schedule of Estimates and Assumptions in Valuation

These include the price per share, expected term, expected volatility, expected dividends and the risk-free interest rate.


	June 30, 2023	June 30, 2022	June 30, 2021
Expected term	1.40 - 6.12 years	1.40 -5.66 years	1.65 - 5.66 years
Volatility	33.41% - 36.33%	32.6% - 37.2%	32.23% - 44.29%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	4.05% - 4.87%	3.01% to 3.03%	0.25% - 1.04%

The grant date fair value of the stock options was estimated using the following assumptions:

June 30,
2023

June 30,
2022

June 30,
2021

Expected term

6.12 years

6.08 - 7.00 years

5.30 - 10.00 years

Volatility

32.89% - 33.39%

31.30% - 31.54%

29.40% - 47.70%

Expected dividend yield

0.00%

Risk-free interest rate

3.75% to 4.11%

1.28% to 2.00%

0.57% to 1.20%

Summary of Unvested RSA Activity

A summary of the unvested RSAs is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested as of June 30, 2022	35,292	$	0.61
Granted	—	—
Vested	(28,902)	0.61
Forfeitures / cancellations / expirations	(106)	0.61
Unvested as of June 30, 2023	6,284	$	0.61

Summary of Restricted Stock Unit Activity

A summary of the unvested RSU and PRSU activity for the year ended June 30, 2023 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested as of June 30, 2022	635,738	$	16.68
Granted	—	$	—
Vested	(30,557)	$	17.12
Forfeitures / cancellations / expirations	(60,000)	$	20.11
Unvested as of June 30, 2023	545,181	$	16.28

Weighted Average Share Counts (Tables)

12 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Components of Computation from Basic to Diluted Earnings Per Share

The following table sets forth the components of the computation from basic to diluted earnings per share for net income for the years ended June 30:


	2023	2022	2021
Shares used in basic earnings per share calculation	18,200	18,232	17,649
Effect of dilutive securities:
Employee share-based compensation	199	227	489
Warrant	495	265	220
Total effects of dilutive securities	694	492	709
Shares used in dilutive earnings per share calculation	18,893	18,724	18,359

Shares considered anti-dilutive using the treasury method	367	18	3

Property and Equipment, Net (Tables)

12 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment


Property and equipment						Useful economic life
Leasehold improvements						Lesser of life of the asset or expected lease term
Furniture, fixture and office equipment						3 - 5 years
Computer equipment and software						3 years
Vehicles						3 - 5 years

Property and equipment consists of the following:


	June 30, 2023		June 30, 2022
Leasehold improvements	$	37,356	$	33,277
Furniture & fixtures	31,228		29,986
Computer equipment	73,824		67,448
Software	21,057		19,556
Vehicles	1,779		1,295
Assets under construction	435		1,356
Property and equipment, gross	$	165,679	$	152,918
Less: Accumulated depreciation	(124,528)		(110,979)
Property and equipment, net	$	41,151	$	41,939

The following table presents the Company’s total property and equipment by geographic location:


	June 30, 2023		June 30, 2022
USA	$	10,751	$	10,476
Philippines	9,117		11,474
Pakistan	3,923		2,995
Jamaica	13,374		11,318
Nicaragua	3,421		4,948
Honduras	565		709
Senegal	—		19
Total	$	41,151	$	41,939

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 120	$ 1,290
Common stock: par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock: shares authorized (in shares)	108,057,967	108,057,967
Common stock: shares outstanding (in shares)	18,280,419	18,246,391
Treasury stock at cost (in shares)	245,447	227,888

Accounts Receivable and Significant Clients

12 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Accounts Receivable and Significant Clients

ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS

Accounts receivable, net in the accompanying consolidated balance sheets consists of the following:


	June 30, 2023		June 30, 2022
Accounts receivable	$	86,484	$	76,708
Less: Allowance for credit losses	(120)		(1,290)
Accounts receivable, net	$	86,364	$	75,418

The Company estimates its expected credit losses using the lifetime expected credit loss model. The allowance for credit losses is calculated quarterly based on the Company’s historical loss percentages (net of recoveries). In addition to the evaluation of historical losses, the Company considers current and future economic conditions and events such as changes in customer credit quality and liquidity. The Company will write-off accounts receivable against the allowance when it determines a balance is uncollectible, and wrote-off $1.4 million for the year ended June 30, 2023. Write-offs for the two fiscal years ended June 30, 2022 and 2021 were not material.

Activity in the Company’s allowance for credit losses consists of the following:


	June 30, 2023		June 30, 2022
Balance, beginning of year	$	1,290	$	2,301
Provision for credit losses	321		7
Reversal of provision for credit losses	(26)		(767)
Uncollectible receivables written off	(1,410)		—
Effect of foreign exchange	(55)		(251)
Balance, end of year	$	120	$	1,290

Significant Clients

The Company has one client in excess of 10% of total revenue for the years ended June 30, 2023 and June 30, 2022, and three clients in excess of 10% of total revenue for the year ended June 30, 2021. The revenue from our top three clients as a percentage of total revenue is as follows:


	Year ended June 30,
	2023		2022		2021
Client 1	13	%	12	%	12	%
Client 2	7	%	8	%	12	%
Client 3	7	%	7	%	11	%

Amounts receivable from these clients is as follows:


	Year ended June 30,
	2023		2022
Client 1	$	5,968	$	9,966
Client 2	$	13,807	$	5,725
Client 3	$	6,405	$	4,369

To limit the Company’s credit risk with its clients, management regularly monitors the aging of customer receivables, maintains allowances for credit losses and may require prepayment for services from certain clients. Based on currently available information, management does not believe significant credit risk exists as of June 30, 2023.

Revenue from Contracts with Customers (Tables)

12 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Breakdown of Revenues by Geographical Location

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


	June 30, 2023		June 30, 2022		June 30, 2021
Revenue
United States	$	509,170	$	476,092	$	428,557
Others	13,948		16,759		14,831
Total	$	523,118	$	492,851	$	443,388

The following table presents the breakdown of the Company’s revenues by geographical location, based on where the services are provided, for the years ended:


	June 30, 2023		June 30, 2022		June 30, 2021
Revenue
Onshore (United States)	$	145,401	$	167,925	$	168,475
Offshore (Philippines, Pakistan)	221,913		186,902		163,865
Nearshore (Jamaica, Nicaragua, Honduras)	155,804		138,024		111,048
Total	$	523,118	$	492,851	$	443,388

Summary of Revenue Disaggregated by Pattern of Revenue Recognition

The following table presents the breakdown of the Company’s revenue by pattern of revenue recognition for the years ended:


	June 30, 2023		June 30, 2022		June 30, 2021
Pattern of Revenue recognition
Services transferred over time	$	489,942	$	455,206	$	402,613
Services transferred at a point in time	33,176		37,645		40,775
	$	523,118	$	492,851	$	443,388

Schedule of Movement in Deferred Revenue

The movement in the deferred revenue is as follows:


	June 30, 2023		June 30, 2022
Opening balance	$	12,593	$	7,087
Revenue recognized during the year	(11,329)		(5,592)
Revenue deferred during the year	6,532		11,098
Closing balance	$	7,796	$	12,593

Related Party Transactions	12 Months Ended
Related Party Transactions	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONSThe Company has agreements with multiple companies under the control of our controlling shareholder, TRGI, and with companies which have common Directors, in the normal course of business. These transactions were executed on mutually agreed terms and include contact center services, back office support services and an office lease. During the fiscal years ended June 30, 2023, 2022, and 2021, the Company recognized revenue of $0.1 million, $0.1 million, and $1.2 million, respectively, and incurred expenses of $0.0 million, $0.0 million and $0.5 million, respectively. As of June 30, 2023 and 2022, the Company had accounts receivable of $0.0 million and $0.0 million, respectively, and accounts payable of $2.3 million and $2.6 million, respectively, with these related parties. Subsequent to June 30, 2023, the Company paid $2.2 million due to related parties.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Weighted Average Share Counts (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Shares used in basic earnings per share calculation (in shares)	18,200	18,232	17,649
Effect of dilutive securities:
Employee share-based compensation (in shares)	199	227	489
Warrant (in shares)	495	265	220
Total effects of dilutive securities (in shares)	694	492	709
Shares used in dilutive earnings per share calculation (in shares)	18,893	18,724	18,359
Shares considered anti-dilutive using the treasury method	367	18	3

Debt (Tables)

12 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Debt consists of the following:


	June 30, 2023		June 30, 2022
Debt
Revolving credit facility	$	52	$	11,202
Demand loans	—		1,626
Notes payable	—		1,851
Loans	—		348
Finance leases	961		713
Total debt	$	1,013	$	15,740
Less: Current maturities of long-term debt and finance leases	(413)		(15,079)
Total long-term debt, net	$	600	$	661

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease assets	$ 70,919	$ 83,094
Operating lease liabilities, current	13,036	13,808
Operating lease liabilities, non-current	64,854	75,994
Total operating lease liabilities	77,890	89,802
Finance lease assets, net	929	641
Finance lease liabilities, current	361	391
Finance lease liabilities, non-current	600	322
Total finance lease liabilities	$ 961	$ 713

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Jun. 30, 2023

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Selected quarterly financial data is presented below for each quarter in fiscal year 2023 to reflect the Company’s material retrospective change due to its conversion from IFRS to U.S. GAAP.


	Fiscal year 2023
	Quarter 1		Quarter 2		Quarter 3		Quarter 4
Revenue	$	127,805	$	139,325	$	131,557	$	124,431
Cost of services	96,153		99,790		91,693		87,356
Income from operations	7,670		11,451		13,051		8,306
Net income	6,523		9,270		11,279		4,510
Net income per share:
Basic	$	0.36	$	0.51	$	0.62	$	0.25
Diluted	$	0.35	$	0.49	$	0.60	$	0.24

Stockholders' Equity - Reclassifications from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative					$ 88,663	$ 80,153	$ 76,976
Interest expense, net					152	1,246	1,892
Provision for income tax (expense) / benefit					(8,744)	2,077	(2,064)
Net income	$ 4,510	$ 11,279	$ 9,270	$ 6,523	31,582	21,456	13,089
Foreign Currency Translation Adjustment \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative					173	0	0
Derivative Valuation \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of services (exclusive of depreciation and amortization presented separately below)					(1,201)	(319)	0
Interest expense, net					45	(45)	0
Provision for income tax (expense) / benefit					162	(218)	0
Net income					(994)	(582)	0
Defined Benefit Plan \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of services (exclusive of depreciation and amortization presented separately below)					$ (89)	$ (153)	$ (163)

Revenue from Contracts with Customers - Movement in Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Contract With Customer, Liability [Roll Forward]
Opening balance	$ 12,593	$ 7,087
Revenue recognized during the year	(11,329)	(5,592)
Revenue deferred during the year	6,532	11,098
Closing balance	$ 7,796	$ 12,593

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Property and Equipment [Line Items]
Property and equipment, gross	$ 165,679	$ 152,918
Less: Accumulated depreciation	(124,528)	(110,979)
Property and equipment, net	41,151	41,939
Depreciation expense	19,000	18,100	$ 14,100
USA
Property and Equipment [Line Items]
Property and equipment, net	10,751	10,476
Philippines
Property and Equipment [Line Items]
Property and equipment, net	9,117	11,474
Pakistan
Property and Equipment [Line Items]
Property and equipment, net	3,923	2,995
Jamaica
Property and Equipment [Line Items]
Property and equipment, net	13,374	11,318
Nicaragua
Property and Equipment [Line Items]
Property and equipment, net	3,421	4,948
Honduras
Property and Equipment [Line Items]
Property and equipment, net	565	709
Senegal
Property and Equipment [Line Items]
Property and equipment, net	0	19
Leasehold improvements
Property and Equipment [Line Items]
Property and equipment, gross	37,356	33,277
Furniture & fixtures
Property and Equipment [Line Items]
Property and equipment, gross	31,228	29,986
Computer equipment
Property and Equipment [Line Items]
Property and equipment, gross	73,824	67,448
Software
Property and Equipment [Line Items]
Property and equipment, gross	21,057	19,556
Vehicles
Property and Equipment [Line Items]
Property and equipment, gross	1,779	1,295
Assets under construction
Property and Equipment [Line Items]
Property and equipment, gross	$ 435	$ 1,356

Derivatives - Fair Value Cash Flow Hedging (Details) - Foreign Exchange Contracts $ in Thousands	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 27,303
Fair value (liability) / asset	$ (100)	$ (981)
Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency rate	52.50
Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency rate	57.90

Debt - Narrative (Details) ₨ in Millions	1 Months Ended	12 Months Ended
Debt - Narrative (Details) ₨ in Millions	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	May 31, 2020 USD ($)	May 31, 2020 PKR (₨)	Mar. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Nov. 30, 2018 USD ($)	Jan. 31, 2018 USD ($)	Nov. 30, 2013 USD ($)
Schedule of Debt [Line Items]
Interest expense, net		$ 152,000	$ 1,246,000	$ 1,892,000
Revolving credit facility \| Revolving Credit Facility
Schedule of Debt [Line Items]
Debt	$ 11,202,000	$ 52,000	11,202,000
Revolving credit facility \| PNC Credit Facility \| Revolving Credit Facility
Schedule of Debt [Line Items]
Term of long term debt		3 years									3 years
Maximum borrowing capacity	80,000,000		80,000,000								$ 35,000,000
Accordion feature, maximum borrowing capacity	$ 95,000,000		95,000,000
Commitment fee percentage	0.25%
Borrowing available		$ 71,900,000
Revolving credit facility \| PNC Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Revolving Credit Facility
Schedule of Debt [Line Items]
Basis spread on variable rate	1.75%
Revolving credit facility \| PNC Credit Facility \| PNC Commercial Lending Rate \| Revolving Credit Facility
Schedule of Debt [Line Items]
Basis spread on variable rate	(0.50%)
Notes payable
Schedule of Debt [Line Items]
Debt	$ 1,851,000	0	1,851,000
Notes payable \| Property and Equipment Financing
Schedule of Debt [Line Items]
Debt	200,000	0	200,000
Face amount of debt	$ 1,000,000		$ 1,000,000
Notes payable \| Property and Equipment Financing \| Minimum
Schedule of Debt [Line Items]
Stated interest rate	5.40%		5.40%
Notes payable \| Property and Equipment Financing \| Maximum
Schedule of Debt [Line Items]
Stated interest rate	9.76%		9.76%
Notes payable \| Insurance Policy Financing
Schedule of Debt [Line Items]
Debt	$ 1,700,000	0	$ 1,700,000
Notes payable \| Insurance Policy Financing \| Minimum
Schedule of Debt [Line Items]
Stated interest rate	4.60%		4.60%
Notes payable \| Insurance Policy Financing \| Maximum
Schedule of Debt [Line Items]
Stated interest rate	5.00%		5.00%
Demand loans
Schedule of Debt [Line Items]
Debt	$ 1,626,000	0	$ 1,626,000
Demand loans \| First Global Bank Limited Demand Loan 01/2018
Schedule of Debt [Line Items]
Debt	200,000	0	200,000
Face amount of debt										$ 1,400,000
Demand loans \| First Global Bank Limited Demand Loan 11/2018
Schedule of Debt [Line Items]
Debt	400,000	0	400,000
Face amount of debt									$ 1,200,000
Demand loans \| First Global Bank Limited Demand Loan 10/2019
Schedule of Debt [Line Items]
Debt	100,000	0	100,000
Face amount of debt								$ 800,000
Demand loans \| First Global Bank Limited Demand Loan 03/2020
Schedule of Debt [Line Items]
Debt	200,000	0	200,000
Face amount of debt							$ 600,000
Demand loans \| First Global Bank Limited Demand Loan 03/2020
Schedule of Debt [Line Items]
Debt	700,000	0	700,000
Face amount of debt							$ 2,000,000
Loans
Schedule of Debt [Line Items]
Debt	348,000	0	348,000
Loans \| JS Bank Limited Loan, IBEX Global Solutions (Pvt) Limited
Schedule of Debt [Line Items]
Term of long term debt					2 years	2 years
Debt	200,000	0	200,000
Face amount of debt					$ 1,000,000	₨ 165
Stated interest rate					3.00%	3.00%
Loans \| JS Bank Limited Loan, Virtual World (Pvt) Limited
Schedule of Debt [Line Items]
Term of long term debt					2 years	2 years
Debt	$ 100,000	$ 0	$ 100,000
Face amount of debt					$ 800,000	₨ 120
Stated interest rate					3.00%	3.00%

Stockholders' Equity (Tables)

12 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component

The table below summarizes the aggregate unrealized net gain or loss in AOCI for the three years ended June 30:


	June 30, 2023		June 30, 2022		June 30, 2021
Aggregate unrealized net loss at beginning of period	$	857	$	316	$	518
Add: Net loss / (gain) from change in fair value of cash flow hedges	524		860		(202)
Less: Net loss reclassified to earnings from effective hedges	(1,201)		(319)		—
Aggregate unrealized net loss at end of period	$	180	$	857	$	316

The following table presents changes by component:


	Foreign Currency Translation Adjustment	Derivative Valuation	Defined Benefit Plan	Total
Balance as of June 30, 2020	(1,095)	(518)	(474)	(2,087)
Foreign currency translation	(477)	—	—	(477)
Actuarial gain / (losses) on defined benefit plan	—	—	(26)	(26)
Unrealized gains / (losses) on cash flow hedges	—	202	—	202
Reclassifications to earnings	(173)	—	163	(10)
Balance as of June 30, 2021	(1,745)	(316)	(337)	(2,398)
Foreign currency translation	(2,281)	—	—	(2,281)
Actuarial gain / (losses) on defined benefit plan	—	—	287	287
Unrealized gains / (losses) on cash flow hedges	—	(905)	—	(905)
Reclassifications to earnings	—	364	153	517
Tax provision	—	218	—	218
Balance as of June 30, 2022	(4,026)	(639)	103	(4,562)
Foreign currency translation	(2,234)		—	(2,234)
Actuarial gain / (losses) on defined benefit plan	—	—	(120)	(120)
Unrealized gains / (losses) on cash flow hedges	—	(479)	—	(479)
Reclassifications to earnings	—	1,156	89	1,245
Tax provision	—	(162)	—	(162)
Balance as of June 30, 2023	(6,260)	(124)	72	(6,312)

Schedule of Reclassifications from AOCI

The following table presents the reclassifications from AOCI to the consolidated statements of comprehensive income:


	For the year ended June 30,
Description of AOCI components	2023	2022	2021	Statement of Other Comprehensive Income Classification
Foreign currency translation gain	173	—	—	Selling, general and administrative expense

Gains / (losses) on foreign currency hedges	(1,201)	(319)	—	Cost of services
Gains / (losses) on interest rate swap	45	(45)	—	Interest expense, net
Tax provision	162	(218)	—	Provision for income taxes
Total derivative valuation	(994)	(582)	—

Amortization related to defined benefit plan	(89)	(153)	(163)	Cost of services

Accounts Receivable and Significant Clients - Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of year	$ 1,290	$ 2,301
Provision for credit losses	321	7
Reversal of provision for credit losses	(26)	(767)
Uncollectible receivables written off	(1,410)	0	$ 0
Effect of foreign exchange	(55)	(251)
Balance, end of year	$ 120	$ 1,290	$ 2,301

Contingencies and Commitments	12 Months Ended
Contingencies and Commitments	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	CONTINGENCIES AND COMMITMENTS The Company 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 on its consolidated financial position, results of operations, or cash flows, no assurances to that effect can be given based on the uncertainty of litigation and demands of third parties. The Company records a liability for pending litigation and claims where losses are both probable and can be reasonably estimated. Legal proceedings 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 August 2020 ransomware incident. In July 2022, the parties reached a preliminary settlement. In March 2023, the Court granted final approval of the settlement, with a deadline for class members to submit claims to the Settlement Administrator ending March 20, 2023. As of June 30, 2023, there have been no objections or opt-outs received and the period to submit same has expired. The settlement was fully covered and paid by available insurance. Indemnification In addition, in the ordinary course of business, we enter into agreements of varying scope and terms pursuant to which we agree to indemnify clients, vendors and other business partners with respect to certain matters, including, but not limited to, losses arising out of breach of such agreements, cybersecurity breach, services to be provided by us or from intellectual property infringement claims made by third parties. Historically, we have not experienced significant losses on these types of indemnification obligations. Purchase obligations As of June 30, 2023, the Company is party to non-cancelable purchase obligations that mainly relate to long term telecommunications contracts and enterprise cloud solutions for the continuing operation of our business. The Company has commitments to pay $6.3 million in the next twelve months and $9.5 million thereafter related to these contracts.

Accounts Receivable and Significant Clients (Tables)

12 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Schedule of Accounts Receivable, Net

Accounts receivable, net in the accompanying consolidated balance sheets consists of the following:


	June 30, 2023		June 30, 2022
Accounts receivable	$	86,484	$	76,708
Less: Allowance for credit losses	(120)		(1,290)
Accounts receivable, net	$	86,364	$	75,418

Schedule of Activity in Allowance for Credit Losses

Activity in the Company’s allowance for credit losses consists of the following:


	June 30, 2023		June 30, 2022
Balance, beginning of year	$	1,290	$	2,301
Provision for credit losses	321		7
Reversal of provision for credit losses	(26)		(767)
Uncollectible receivables written off	(1,410)		—
Effect of foreign exchange	(55)		(251)
Balance, end of year	$	120	$	1,290

Schedules of Revenue from Significant Clients

The revenue from our top three clients as a percentage of total revenue is as follows:


	Year ended June 30,
	2023		2022		2021
Client 1	13	%	12	%	12	%
Client 2	7	%	8	%	12	%
Client 3	7	%	7	%	11	%

Amounts receivable from these clients is as follows:


	Year ended June 30,
	2023		2022
Client 1	$	5,968	$	9,966
Client 2	$	13,807	$	5,725
Client 3	$	6,405	$	4,369

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 124,431	$ 131,557	$ 139,325	$ 127,805	$ 523,118	$ 492,851	$ 443,388
Cost of services	87,356	91,693	99,790	96,153	374,992	373,973	335,249
Income from operations	8,306	13,051	11,451	7,670	40,478	20,625	17,045
Net income	$ 4,510	$ 11,279	$ 9,270	$ 6,523	$ 31,582	$ 21,456	$ 13,089
Net income per share
Basic (in dollars per share)	$ 0.25	$ 0.62	$ 0.51	$ 0.36	$ 1.74	$ 1.18	$ 0.74
Diluted (in dollars per share)	$ 0.24	$ 0.60	$ 0.49	$ 0.35	$ 1.67	$ 1.15	$ 0.71

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Contingencies and Commitments (Details) $ in Millions	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation, next twelve months	$ 6.3
Purchase obligation, thereafter	$ 9.5

Accounts Receivable and Significant Clients - Revenue from Significant Clients (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Concentration Risk [Line Items]
Accounts receivable, net of allowance of $120 and $1,290	$ 86,364	$ 75,418
Client 1 \| Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenues	13.00%	12.00%	12.00%
Client 1 \| Accounts receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Accounts receivable, net of allowance of $120 and $1,290	$ 5,968	$ 9,966
Client 2 \| Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenues	7.00%	8.00%	12.00%
Client 2 \| Accounts receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Accounts receivable, net of allowance of $120 and $1,290	$ 13,807	$ 5,725
Client 3 \| Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenues	7.00%	7.00%	11.00%
Client 3 \| Accounts receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Accounts receivable, net of allowance of $120 and $1,290	$ 6,405	$ 4,369

Warrant (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Nov. 13, 2017
Equity [Abstract]
Term of warrants outstanding				10 years
Number of shares called by warrants (in shares)				1,674,017
Percent of fully diluted equity represented				10.00%
Exercise price per share (in dollars per share)				$ 9.42
Vesting period				7 years 6 months
Number of warrants vested (in shares)	1,004,410	669,607
Warrant contra revenue	$ 1,090	$ 970	$ 791

Revenue from Contracts with Customers - Narrative (Details)	Jun. 30, 2023
Minimum
Disaggregation of Revenue [Line Items]
Notice period for contract termination	30 days
Maximum
Disaggregation of Revenue [Line Items]
Notice period for contract termination	120 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Share Based Compensation

12 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share Based Compensation

SHARE BASED COMPENSATION

Share-based compensation expense

The following tables summarize the components of share-based compensation expense recognized in the Company’s consolidated statements of comprehensive income, both by line item and by plan:


	Year ended June 30,
	2023		2022		2021
Cost of services	$	298	$	105	$	—
Selling, general and administrative	4,308		1,746		5,361
Total stock compensation expense	$	4,606	$	1,851	$	5,361

	Year ended June 30,
	2023		2022		2021
Phantom Stock Plans	$	800	$	33	$	851
2018 Restricted Stock Award Plan	$	(7)	$	6	$	885
2020 Long term Incentive Plan	$	3,813	$	1,812	$	3,625
Total stock compensation expense	$	4,606	$	1,851	$	5,361

Phantom Stock Plans

In 2018, the Company adopted phantom stock plans (“Phantom Stock Plans”) in certain of its operating countries, which provide for grants of “phantom stock options” to certain executive officers and employees in those countries. Each phantom stock option provides the participant with a contractual right to receive an amount equal to the difference between the fair market value of a vested common share of the Company at the time of exercise and the exercise price of the option per share.

The maximum number of phantom stock options available for issuance under the Phantom Stock Plans is 600,000. The Phantom Stock Plans shall continue until the earlier of June 30, 2025 or termination by the Company’s board of directors pursuant to the terms of the plans.

The following table summarizes the phantom stock option activity for the year ended June 30, 2023:


	Share options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate intrinsic value (thousands)
Outstanding as of June 30, 2022	187,673	$	18.91	7.23
Granted	97,500	25.48		9.67
Exercised	(63,089)	17.18		6.86	$	558
Forfeited / expired	(10,734)	24.36		8.94
Outstanding as of June 30, 2023	211,350	$	22.18	8.38	$	188
Vested and exercisable as of June 30, 2023	93,621	$	19.43	7.34	$	169

The weighted average fair value of the phantom stock options for the years ended June 30, 2023, 2022, and 2021 is $8.33, $5.59, and $13.84 respectively. The total pre-tax intrinsic value of the options exercised during the years ended June 30, 2023, 2022, and 2021 was $8.85, $9.52, and $14.76, respectively. The liability for outstanding phantom stock options as of June 30, 2023 and 2022 was $1.2 million and $1.0 million and is included in other liabilities and non-current liabilities in the consolidated balance sheets, as applicable.

As of June 30, 2023, the unrecognized compensation expense associated with the phantom stock plan is $0.6 million and it will be recognized over 47 months from the end of June 30, 2023.

Phantom stock option awards vest based on service conditions. 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.


	June 30, 2023	June 30, 2022	June 30, 2021
Expected term	1.40 - 6.12 years	1.40 -5.66 years	1.65 - 5.66 years
Volatility	33.41% - 36.33%	32.6% - 37.2%	32.23% - 44.29%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	4.05% - 4.87%	3.01% to 3.03%	0.25% - 1.04%

The assumptions used in the Black-Scholes model are estimated as follows:

•Expected dividend yield: Zero percent, as we do not anticipate paying dividends on our common shares.

•Expected volatility: Based on the historical stock price volatility of comparable publicly-traded companies in our peer group.

•Risk-free interest rate: Based on the U.S. Treasury yield curve in effect at the time of grant.

•Expected term: Estimated based on the simplified method as we do not have adequate historical data.

2018 Restricted Share Plan

On December 21, 2018, our board of directors and shareholders approved and adopted the Company’s 2018 Restricted Share Plan (the “2018 RSA Plan”). As of May 20, 2020, the Company 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.

Executive Leadership Team awards

Performance-based restricted stock awards (“RSA”) were granted to executive leadership team employees and vested based on certain performance criteria, which have all been met, in addition to service conditions.

A summary of the unvested RSAs is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested as of June 30, 2022	35,292	$	0.61
Granted	—	—
Vested	(28,902)	0.61
Forfeitures / cancellations / expirations	(106)	0.61
Unvested as of June 30, 2023	6,284	$	0.61

2020 Long Term Incentive Plan

On May 20, 2020, our board of directors and shareholders approved and adopted the Company’s 2020 Long Term Incentive Plan, with an amendment and restatement effective January 14, 2022 (the “2020 LTIP”). 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 shares. The 2020 LTIP provides for grants of stock options and stock awards.

Stock options

The Company granted stock options to new and existing employees and members of the board of directors over the last three fiscal years. These awards are subject to service-based, and in some cases, performance- and market-based vesting conditions and generally vest in monthly, quarterly, or annual installments over two to four years. The term of the option awards is ten years.

The following table summarizes the stock option activity for the year ended June 30, 2023:


	Share options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate intrinsic value (thousands)
Outstanding as of June 30, 2022	921,972	$	16.62	7.34
Granted	236,200	26.22		9.67
Exercised	(122,946)	16.79		7.28	$	1,002
Forfeited / expired	(93,627)	18.44		7.26
Outstanding as of June 30, 2023	941,599	18.78		7.89	$	3,501
Vested and exercisable as of June 30, 2023	558,758	$	16.36	7.16	$	2,721

The weighted-average grant-date fair value of options granted during the years ended June 30, 2023, 2022, and 2021 was $18.78, $16.42, and $16.70, respectively. The total pre-tax intrinsic value of the options exercised during the year ended June 30, 2023, 2022, and 2021 was $8.15, $4.08, and $3.65, respectively.

We use the Black-Scholes model to determine the fair value of stock options with either solely service conditions or a combination of service and performance conditions. The grant date fair value of the stock options was estimated using the following assumptions:

June 30,
2023

June 30,
2022

June 30,
2021

Expected term

6.12 years

6.08 - 7.00 years

5.30 - 10.00 years

Volatility

32.89% - 33.39%

31.30% - 31.54%

29.40% - 47.70%

Expected dividend yield

0.00%

Risk-free interest rate

3.75% to 4.11%

1.28% to 2.00%

0.57% to 1.20%

The assumptions used in the Black-Scholes model are estimated as follows:

•Expected dividend yield: Zero percent, as we do not anticipate paying dividends on our common shares.

•Expected volatility: Based on the historical stock price volatility of comparable publicly-traded companies in our peer group.

•Risk-free interest rate: Based on the U.S. Treasury yield curve in effect at the time of grant.

•Expected term: Estimated based on the simplified method as we do not have adequate historical data.

Restricted stock awards/units (RSU)

The Company granted restricted stock awards in fiscal year 2022 (“RSU”) which vest based on service conditions over four years. The Company also granted restricted stock awards in fiscal year 2021 to the Chief Executive Officer and members of the board of directors which either vest immediately or over two years.

Performance-based restricted stock units (PRSU)

The Company granted restricted stock units that were subject to service and performance conditions in fiscal years 2022 and 2021. Performance triggers were based on revenue or EBITDA targets. If such targets are met, awards begin vesting on a three-year schedule, or, in some cases, vest immediately. If targets are not met, no shares will vest.

The Company calculated the fair value of the RSU and PRSU awards based on the closing price of the Company’s stock on the date of grant and records compensation expense over the vesting period using a graded vesting model. The weighted average grant-date fair value of these awards during the years ended June 30, 2023, 2022, and 2021 was $16.28, $16.68, and $19.23, respectively. The weighted average grant-date fair value of awards vested during the years ended June 30, 2023, 2022, and 2021 was $17.12, $19.23 and $19.23, respectively.

A summary of the unvested RSU and PRSU activity for the year ended June 30, 2023 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested as of June 30, 2022	635,738	$	16.68
Granted	—	$	—
Vested	(30,557)	$	17.12
Forfeitures / cancellations / expirations	(60,000)	$	20.11
Unvested as of June 30, 2023	545,181	$	16.28

As of June 30, 2023, there was approximately $8.2 million of total unrecognized compensation expense which will be recognized over the remaining weighted average vesting period of 3.77 years using a graded vesting model.

Fair Value (Tables)

12 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements on a Recurring Basis

The following is a summary of the Company’s fair value measurements on a recurring basis as of June 30, 2023 and 2022:


	Fair Value Measurements Using
As of June 30, 2023	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash flow hedge - interest rate swap	$	—	$	—	$	—
Total assets	$	—	$	—	$	—

Liabilities
Cash flow hedge - foreign currency collars, net	$	—	$	100	$	—
Phantom stock options	—		1,173		—
Total liabilities	$	—	$	1,273	$	—


	Fair Value Measurements Using
As of June 30, 2022	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash flow hedge - interest rate swap	$	—	$	170	$	—
Total assets	$	—	$	170	$	—

Liabilities
Cash flow hedge - foreign currency collars, net	$	—	$	981	$	—
Phantom stock options	—		932		—
Total liabilities	$	—	$	1,913	$	—

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Pay vs Performance Disclosure
Net income	$ 4,510	$ 11,279	$ 9,270	$ 6,523	$ 31,582	$ 21,456	$ 13,089

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The carrying amount of goodwill at both June 30, 2023 and 2022 was $11.8 million. During the years ended June 30, 2023 and 2022, the Company performed a qualitative assessment and determined that the estimated fair value of the reporting unit exceeded the carrying value, therefore, no impairment charges were recognized. Other Intangible Assets The carrying amount of indefinite-lived intangible assets (trademarks) at both June 30, 2023 and 2022 was $0.7 million and is included in other non-current assets in the consolidated balance sheets. During the years ended June 30, 2023 and 2022, the Company performed a qualitative assessment and determined that no impairment was necessary.

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Holiday [Line Items]
Reduction in income tax expense due to tax holiday	$ 3,400,000	$ 2,700,000	$ 800,000
Reduction in income tax expense due to tax holiday (in dollars per share)	$ 0.18	$ 0.15	$ 0.04
Valuation allowance	$ 1,463,000	$ 2,942,000
Unrecognized tax benefits that would impact tax rate	0	0	$ 0
Interest expense or penalties related to unrecognized tax benefits	0	0	$ 0
Accrued interest or penalties related to unrecognized tax benefits	0	0
U.S. Federal
Income Tax Holiday [Line Items]
Operating loss carryforwards	0	18,900,000
State
Income Tax Holiday [Line Items]
Operating loss carryforwards	15,100,000	32,200,000
Canadian subsidiary \| Foreign Tax Authority
Income Tax Holiday [Line Items]
Operating loss carryforwards	2,100,000	2,200,000
UK and European subsidiaries \| Foreign Tax Authority
Income Tax Holiday [Line Items]
Operating loss carryforwards	$ 3,400,000	$ 6,500,000
Nicaragua
Income Tax Holiday [Line Items]
Extension period of tax holiday	10 years

Derivatives (Tables)

12 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The fair value of the interest rate swap is recorded in other current assets in the consolidated balance sheets as of June 30, 2023 and 2022:


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

The following table shows the notional amount and fair value of our foreign exchange cash flow hedging instruments as of June 30, 2023 and 2022:

Settlement date

Hedged
currency

Foreign
currency rate

Notional
amount

Fair Value

Foreign currency option contracts - liabilities

July 6, 2023 through June 21, 2024

PHP

52.50 - 57.90

27,303

Fair value as of June 30, 2022

981

Fair value as of June 30, 2023

100

Unrealized Net Gain (Loss) in AOCI

The table below summarizes the aggregate unrealized net gain or loss in AOCI for the three years ended June 30:


	June 30, 2023		June 30, 2022		June 30, 2021
Aggregate unrealized net loss at beginning of period	$	857	$	316	$	518
Add: Net loss / (gain) from change in fair value of cash flow hedges	524		860		(202)
Less: Net loss reclassified to earnings from effective hedges	(1,201)		(319)		—
Aggregate unrealized net loss at end of period	$	180	$	857	$	316

The following table presents changes by component:


	Foreign Currency Translation Adjustment	Derivative Valuation	Defined Benefit Plan	Total
Balance as of June 30, 2020	(1,095)	(518)	(474)	(2,087)
Foreign currency translation	(477)	—	—	(477)
Actuarial gain / (losses) on defined benefit plan	—	—	(26)	(26)
Unrealized gains / (losses) on cash flow hedges	—	202	—	202
Reclassifications to earnings	(173)	—	163	(10)
Balance as of June 30, 2021	(1,745)	(316)	(337)	(2,398)
Foreign currency translation	(2,281)	—	—	(2,281)
Actuarial gain / (losses) on defined benefit plan	—	—	287	287
Unrealized gains / (losses) on cash flow hedges	—	(905)	—	(905)
Reclassifications to earnings	—	364	153	517
Tax provision	—	218	—	218
Balance as of June 30, 2022	(4,026)	(639)	103	(4,562)
Foreign currency translation	(2,234)		—	(2,234)
Actuarial gain / (losses) on defined benefit plan	—	—	(120)	(120)
Unrealized gains / (losses) on cash flow hedges	—	(479)	—	(479)
Reclassifications to earnings	—	1,156	89	1,245
Tax provision	—	(162)	—	(162)
Balance as of June 30, 2023	(6,260)	(124)	72	(6,312)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Derivatives - Fair Value Other Current Assets (Details) - Interest rate swap - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 15,000		$ 15,000
Fixed rate payable	1.43%
Fair value (liability) / asset	$ 0	$ 170

Overview and Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	Jun. 30, 2023
Furniture, fixture and office equipment \| Minimum
Property and Equipment [Line Items]
Useful economic life	3 years
Furniture, fixture and office equipment \| Maximum
Property and Equipment [Line Items]
Useful economic life	5 years
Computer equipment and software
Property and Equipment [Line Items]
Useful economic life	3 years
Vehicles \| Minimum
Property and Equipment [Line Items]
Useful economic life	3 years
Vehicles \| Maximum
Property and Equipment [Line Items]
Useful economic life	5 years

Related Party Transactions (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended				12 Months Ended
	Sep. 13, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Related Party Transaction [Line Items]
Revenue		$ 124,431	$ 131,557	$ 139,325	$ 127,805	$ 523,118	$ 492,851	$ 443,388
Expenses						0	0	500
Accounts receivable		43				43	13
Accounts payable		2,314				2,314	2,583
Subsequent Event
Related Party Transaction [Line Items]
Payments to related party	$ 2,200
Related Party
Related Party Transaction [Line Items]
Revenue						100	100	$ 1,200
Accounts receivable		0				0	0
Accounts payable		$ 2,300				$ 2,300	$ 2,600

- Definition

+ References

+ Details