0001720420-24-000042 | 10-K | XBRL Viewer

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Overview and Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	Jun. 30, 2024
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

Investment in Joint Venture

12 Months Ended

Jun. 30, 2024

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 at each of June 30, 2024 and 2023, 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,
($000s)	2024		2023
Opening balance	$	372	$	382
Dividends received	(1,013)		(725)
Share of profit	1,056		715
Ending balance	$	415	$	372

Debt

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt

DEBT

Debt consists of the following:


($000s)	June 30, 2024		June 30, 2023
Debt
PNC Credit Facility	$	—	$	52



Finance leases	1,527		961
Total debt	$	1,527	$	1,013
Less: Current maturities of long-term debt and finance leases	(660)		(413)
Total long-term debt	$	867	$	600

Revolving credit facility

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 Secured Overnight Financing Rate (“SOFR”) and extend the maturity date to May 2026.

In May 2024, the Company's subsidiaries, Ibex Global Solutions, Inc., Digital Globe Services, LLC, TelSatOnline, LLC, 7 Degrees, LLC, and iSky, LLC (collectively, the "Borrowers") entered into the Seventeenth Amendment to the PNC Credit Facility (the "Amendment") with PNC. The Amendment provides PNC's consent to the assignment of certain customer contracts (the "Contract Assignments") by the Borrowers to the Company's subsidiary, Ibex Global FZ-LLC, provided that (i) the contract revenues associated with such Contract Assignments, upon the effectiveness of such Contract Assignments, shall not in the aggregate be greater than $175 million and (ii) the Borrowers comply with additional reporting requirements to PNC.

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 the Borrowers.

As of June 30, 2024, the Company had $79.0 million of borrowing available under the PNC Credit Facility based on eligible collateral.

The PNC Credit Facility contains certain financial, operating, and other covenants, including, among other things, covenants restricting additional borrowings, paying any dividends and making certain investments. The Company was in compliance with all debt covenants as of June 30, 2024.

Revenue from Contracts with Customers - Movement in Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 7,796	$ 12,593
Revenue recognized	(8,509)
Revenue recognized		(11,329)
Revenue deferred	6,590	6,532
Ending balance	5,877	$ 7,796
Contract With Customer, Liability, Revenue Recognized, Including Opening Balance	$ 8,509

Weighted Average Share Counts (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Shares used in basic earnings per share calculation (in shares)	17,704	18,200	18,232
Effect of dilutive securities:
Employee share-based compensation (in shares)	81	199	227
Warrant (in shares)	470	495	265
Total effects of dilutive securities (in shares)	551	694	492
Shares used in dilutive earnings per share calculation (in shares)	18,255	18,893	18,724
Shares considered anti-dilutive using the treasury method	549	367	18

Share Based Compensation - Restricted Stock Unit Activity (Details) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2022
Restricted Share Awards (RSA)
Shares
Beginning balance, unvested (in shares)	6,284
Granted (in shares)	0
Vested (in shares)	(6,284)
Forfeitures / cancellations / expirations (in shares)	0
Ending balance, unvested (in shares)	0
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
Ending balance, unvested (in dollars per share)	$ 0
Restricted Stock Units (RSU) and Performance-Based Restricted Stock Units (PRSU)
Shares
Beginning balance, unvested (in shares)	545,181
Granted (in shares)	50,000
Vested (in shares)	(14,902)
Forfeitures / cancellations / expirations (in shares)	(8,898)
Ending balance, unvested (in shares)	571,381
Weighted Average Grant Date Fair Value
Beginning balance, unvested (in dollars per share)	$ 16.28
Granted (in dollars per share)	17.13	$ 16.71
Vested (in dollars per share)	16.28
Forfeitures / cancellations / expirations (in dollars per share)	16.28
Ending balance, unvested (in dollars per share)	$ 16.35

Leases

12 Months Ended

Jun. 30, 2024

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 fifteen years, and may include renewal options if the Company is reasonably certain to exercise such options.

The components of lease cost are as follows:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Operating lease cost:
Operating lease cost	$	19,753	$	21,614	$	21,442
Variable lease cost	2,949		4,127		4,207
Short-term lease cost	211		—		—
Total operating lease cost	$	22,913	$	25,741	$	25,649

Finance lease cost:
Amortization of right of use assets	$	653	$	446	$	375
Interest on lease liabilities	235		143		93
Total finance lease cost	$	888	$	589	$	468

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


($000s)	June 30, 2024		June 30, 2023
Operating lease assets	$	59,145	$	70,919

Operating lease liabilities, current	$	12,051	$	13,036
Operating lease liabilities, non-current	53,441		64,854
Total operating lease liabilities	$	65,492	$	77,890

Finance lease assets, net	$	1,697	$	929

Finance lease liabilities, current	$	660	$	361
Finance lease liabilities, non-current	867		600
Total finance lease liabilities	$	1,527	$	961

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


($000s)	June 30, 2024		June 30, 2023		June 30, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	13,528	$	14,309	$	12,926
Operating cash flows paid for interest portion of finance leases	235		143		93
Financing cash flows paid for principal portion of finance leases	490		447		818

The following table presents supplemental noncash information related to leases:


($000s)	June 30, 2024		June 30, 2023
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	6,069	$	11,281
Finance leases	$	1,040	$	881
Reduction due to reassessment of lease renewal options
Right-of-use assets	$	(3,656)	$	—
Operating lease liabilities	$	(3,689)	$	—


	June 30, 2024		June 30, 2023
Weighted average remaining lease term (in years)
Operating leases	5.1		5.7
Finance leases	2.2		2.6

Weighted average discount rate
Operating leases	10.5	%	9.2	%
Finance leases	22.3	%	13.4	%

The following table presents the maturities of our lease liabilities as of June 30, 2024:


($000s)	Operating Leases		Finance Leases
Year Ending
2025	$	17,384	$	916
2026	15,968		701
2027	15,746		304
2028	14,222		—
2029	12,082		—
Thereafter	10,815		—
Total undiscounted lease payments	86,217		1,921
Less: liability accretion	(20,725)		(394)
Total lease liabilities	$	65,492	$	1,527

Leases

LEASES

The components of lease cost are as follows:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Operating lease cost:
Operating lease cost	$	19,753	$	21,614	$	21,442
Variable lease cost	2,949		4,127		4,207
Short-term lease cost	211		—		—
Total operating lease cost	$	22,913	$	25,741	$	25,649

Finance lease cost:
Amortization of right of use assets	$	653	$	446	$	375
Interest on lease liabilities	235		143		93
Total finance lease cost	$	888	$	589	$	468

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


($000s)	June 30, 2024		June 30, 2023
Operating lease assets	$	59,145	$	70,919

Operating lease liabilities, current	$	12,051	$	13,036
Operating lease liabilities, non-current	53,441		64,854
Total operating lease liabilities	$	65,492	$	77,890

Finance lease assets, net	$	1,697	$	929

Finance lease liabilities, current	$	660	$	361
Finance lease liabilities, non-current	867		600
Total finance lease liabilities	$	1,527	$	961

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


($000s)	June 30, 2024		June 30, 2023		June 30, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	13,528	$	14,309	$	12,926
Operating cash flows paid for interest portion of finance leases	235		143		93
Financing cash flows paid for principal portion of finance leases	490		447		818

The following table presents supplemental noncash information related to leases:


($000s)	June 30, 2024		June 30, 2023
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	6,069	$	11,281
Finance leases	$	1,040	$	881
Reduction due to reassessment of lease renewal options
Right-of-use assets	$	(3,656)	$	—
Operating lease liabilities	$	(3,689)	$	—


	June 30, 2024		June 30, 2023
Weighted average remaining lease term (in years)
Operating leases	5.1		5.7
Finance leases	2.2		2.6

Weighted average discount rate
Operating leases	10.5	%	9.2	%
Finance leases	22.3	%	13.4	%

The following table presents the maturities of our lease liabilities as of June 30, 2024:


($000s)	Operating Leases		Finance Leases
Year Ending
2025	$	17,384	$	916
2026	15,968		701
2027	15,746		304
2028	14,222		—
2029	12,082		—
Thereafter	10,815		—
Total undiscounted lease payments	86,217		1,921
Less: liability accretion	(20,725)		(394)
Total lease liabilities	$	65,492	$	1,527

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Revenue	$ 508,569	$ 523,118	$ 492,851
Cost of services (exclusive of depreciation and amortization presented separately below)	356,536	374,992	373,973
Selling, general and administrative	93,143	88,663	80,153
Depreciation and amortization	19,461	18,985	18,100
Total operating expenses	469,140	482,640	472,226
Income from operations	39,429	40,478	20,625
Interest income	2,071	640	43
Interest expense	(514)	(792)	(1,289)
Income before income taxes	40,986	40,326	19,379
Provision for income tax (expense) / benefit	(7,331)	(8,744)	2,077
Net income	33,655	31,582	21,456
Other comprehensive income / (loss)
Foreign currency translation adjustments	(1,623)	(2,234)	(2,281)
Unrealized (loss) / gain on cash flow hedging instruments, net of tax	(111)	515	(323)
Actuarial gain / (loss) on defined benefit plan	133	(31)	440
Total other comprehensive loss	(1,601)	(1,750)	(2,164)
Total comprehensive income	$ 32,054	$ 29,832	$ 19,292
Net income per share
Basic (in dollars per share)	$ 1.90	$ 1.74	$ 1.18
Diluted (in dollars per share)	$ 1.84	$ 1.67	$ 1.15
Weighted average common shares outstanding
Basic (in shares)	17,704	18,200	18,232
Diluted (in shares)	18,255	18,893	18,724

Revenue from Contracts with Customers - Breakdown of Revenues by Geographical Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 508,569	$ 523,118	$ 492,851
United States
Disaggregation of Revenue [Line Items]
Revenue	493,015	509,170	476,092
Other countries
Disaggregation of Revenue [Line Items]
Revenue	15,554	13,948	16,759
Onshore (United States)
Disaggregation of Revenue [Line Items]
Revenue	120,153	145,401	167,925
Offshore (Philippines, Pakistan)
Disaggregation of Revenue [Line Items]
Revenue	244,825	221,913	186,902
Nearshore (Jamaica, Nicaragua, Honduras)
Disaggregation of Revenue [Line Items]
Revenue	$ 143,591	$ 155,804	$ 138,024

- 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

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

Fair Value

12 Months Ended

Jun. 30, 2024

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, 2024 and 2023:


As of June 30, 2024	Fair Value Measurements Using
($000s)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)




Liabilities
Cash flow hedge - foreign currency collars, net	$	—	$	335	$	—
Phantom stock options	—		1,014		—
Total liabilities	$	—	$	1,349	$	—


As of June 30, 2023	Fair Value Measurements Using
($000s)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)




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

These balances are included in accounts payable and accrued liabilities and other non-current liabilities in the consolidated balance sheets.

There were no transfers between the different hierarchy levels in the years ended June 30, 2024 and 2023.

- 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.

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-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Warrant	12 Months Ended
Warrant	Jun. 30, 2024
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 (the "warrant shares"), representing 10.0% of our equity on a fully diluted basis at the time of the warrant’s issuance. 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 ended 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, 2024 and 2023, 1,171,812 and 1,004,410 warrant shares were vested, respectively. To date, the warrant has not been exercised, expired or cancelled. The Company recorded contra revenue of approximately $1.2 million, $1.1 million, and $1.0 million during the years ended June 30, 2024, 2023, and 2022, respectively.

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 13,528	$ 14,309	$ 12,926
Operating cash flows paid for interest portion of finance leases	235	143	93
Financing cash flows paid for principal portion of finance leases	490	447	$ 818
Right-of-use assets obtained in exchange for lease obligations
Operating leases	6,069	11,281
Finance leases	1,040	881
Reduction due to reassessment of lease renewal options
Right-of-use assets	(3,656)	0
Operating lease liabilities	$ (3,689)	$ 0
Weighted average remaining lease term (in years)
Operating leases	5 years 1 month 6 days	5 years 8 months 12 days
Finance leases	2 years 2 months 12 days	2 years 7 months 6 days
Weighted average discount rate
Operating leases	10.50%	9.20%
Finance leases	22.30%	13.40%

Leases - Maturities of Operating and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Operating  Leases
2025	$ 17,384
2026	15,968
2027	15,746
2028	14,222
2029	12,082
Thereafter	10,815
Total undiscounted lease payments	86,217
Less: liability accretion	(20,725)
Total lease liabilities	65,492	$ 77,890
Finance  Leases
2025	916
2026	701
2027	304
2028	0
2029	0
Thereafter	0
Total undiscounted lease payments	1,921
Less: liability accretion	(394)
Total lease liabilities	$ 1,527	$ 961

Weighted Average Share Counts (Tables)

12 Months Ended

Jun. 30, 2024

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, 2024, 2023, and 2022:


(000s)	2024	2023	2022
Shares used in basic earnings per share calculation	17,704	18,200	18,232
Effect of dilutive securities:
Employee share-based compensation	81	199	227
Warrant	470	495	265
Total effects of dilutive securities	551	694	492
Shares used in dilutive earnings per share calculation	18,255	18,893	18,724

Shares considered anti-dilutive using the treasury method	549	367	18

Share Based Compensation - Components of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 3,765	$ 4,606	$ 1,851
Phantom Stock Plans
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	(152)	800	33
2018 Restricted Share Plan
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	0	(7)	6
2020 Long Term Incentive Plan
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	3,917	3,813	1,812
Cost of services
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	76	298	105
Selling, general and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 3,689	$ 4,308	$ 1,746

Accounts Receivable and Significant Client - Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 120	$ 1,290
Provision for credit losses	93	321
Reversal of provision for credit losses	(60)	(26)
Uncollectible receivables written off	(87)	(1,410)	$ 0
Effect of foreign exchange	6	(55)
Ending balance	$ 72	$ 120	$ 1,290

Commitments (Details) $ in Millions	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation, next twelve months	$ 8.7
Purchase obligation, thereafter	$ 6.9

Accounts Receivable and Significant Client (Tables)

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Schedule of Accounts Receivable, Net

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


($000s)	June 30, 2024		June 30, 2023
Accounts receivable	$	98,438	$	86,484
Less: Allowance for credit losses	(72)		(120)
Accounts receivable, net	$	98,366	$	86,364

Schedule of Activity in Allowance for Credit Losses

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


($000s)	June 30, 2024		June 30, 2023
Beginning balance	$	120	$	1,290
Provision for credit losses	93		321
Reversal of provision for credit losses	(60)		(26)
Uncollectible receivables written off	(87)		(1,410)
Effect of foreign exchange	6		(55)
Ending balance	$	72	$	120

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease cost	$ 19,753	$ 21,614	$ 21,442
Variable lease cost	2,949	4,127	4,207
Short-term lease cost	211	0	0
Total operating lease cost	22,913	25,741	25,649
Amortization of right of use assets	653	446	375
Interest on lease liabilities	235	143	93
Total finance lease cost	$ 888	$ 589	$ 468

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes by Component

Income before income taxes includes the following components:


($000s)	2024		2023		2022
United States	$	18,492	$	21,938	$	1,996
Foreign	22,494		18,388		17,383
Total	$	40,986	$	40,326	$	19,379

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:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Current tax expense:
Federal	$	3,203	$	385	$	—
State	1,532		487		647
Foreign	2,241		3,467		2,575
Total current expense	$	6,976	$	4,339	$	3,222

Deferred tax:
Federal	(124)		4,019		(3,759)
State	155		843		(1,025)
Foreign	324		(457)		(515)
Total deferred expense (benefit)	$	355	$	4,405	$	(5,299)

Provision for income tax expense (benefit)	$	7,331	$	8,744	$	(2,077)

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, 2024, 2023, and 2022 are as follows:


	June 30, 2024		June 30, 2023		June 30, 2022

U.S. federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal deduction	2.8	%	1.4	%	3.0	%
Foreign rate differential	(4.7)	%	(5.7)	%	(8.6)	%
Non-deductible expenses / exempt income	1.0	%	1.2	%	1.5	%
Employment and other tax credits	(1.8)	%	(2.9)	%	(7.7)	%
Prior year provision / other items	0.5	%	3.1	%	0.4	%
Unrecognized losses utilized during the year	—	%	—	%	(0.7)	%
Change in valuation allowance	(0.9)	%	3.6	%	(19.6)	%
Effective tax rate percentage	17.9	%	21.7	%	(10.7)	%

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:


($000s)	June 30, 2024		June 30, 2023
Deferred tax assets
Provision for credit losses	$	—	$	99
Provision for employee benefits and other expenses	1,724		755
Tax credit carryforwards	—		2,427
Section 174 research and development capitalization	1,116		589
Net operating losses	1,879		2,394
Property and equipment, net	687		534
Intangible assets	—		3
Lease liability (right of use assets)	5,048		6,547
Net unrealized loss on hedging	103		56
Total deferred tax assets	$	10,557	$	13,404
Valuation allowance	(1,127)		(1,463)
Total deferred tax assets, net of valuation allowance	$	9,430	$	11,941

Deferred tax liabilities
Property and equipment, net	$	—	$	(732)
Right of use assets	(3,957)		(5,440)
Intangible assets	(1,178)		(1,184)
Other liability	(10)		—
Total deferred tax liabilities	$	(5,145)	$	(7,356)

Net deferred tax assets and liabilities	$	4,285	$	4,585

Accounts Receivable and Significant Client

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Accounts Receivable and Significant Client

ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENT

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


($000s)	June 30, 2024		June 30, 2023
Accounts receivable	$	98,438	$	86,484
Less: Allowance for credit losses	(72)		(120)
Accounts receivable, net	$	98,366	$	86,364

The Company will write-off accounts receivable against the allowance when it determines a balance is uncollectible, and wrote-off $0.1 million and $1.4 million for the years ended June 30, 2024 and 2023, respectively. Write-offs for the fiscal year ended June 30, 2022 were not material.

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


($000s)	June 30, 2024		June 30, 2023
Beginning balance	$	120	$	1,290
Provision for credit losses	93		321
Reversal of provision for credit losses	(60)		(26)
Uncollectible receivables written off	(87)		(1,410)
Effect of foreign exchange	6		(55)
Ending balance	$	72	$	120

Significant Client

During the years ended June 30, 2024 and 2023, the Company had one client that contributed approximately 12% of total revenue, respectively. As of June 30, 2024 and 2023, the accounts receivable from this client was $13.6 million and $6.0 million, respectively.

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, 2024.

Overview and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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 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.

Basis of presentation and principles of consolidation

On December 31, 2022, we determined that we no longer met the criteria to remain a foreign private issuer. Effective July 1, 2023, the Company became a domestic filer and we are required to file periodic reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, and to follow other rules as required.

The Company’s consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for the fiscal years ended June 30, 2024

and 2023, and retrospectively for the fiscal year ended June 30, 2022 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.

Basis of presentation and principles of consolidation

Certain prior year amounts have been reclassified to conform to the current year presentation.

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.

Revenue recognition

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 Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers.

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 Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326), the Company estimates its 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 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, net

Property and equipment and assets leased under financing leases are carried at cost at the 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 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 loss is recognized to the extent its carrying value exceeds its estimated fair value.

During the year ended June 30, 2024, we determined that the estimated fair value for certain assets at two of our delivery locations no longer exceeded their carrying value. The fair value of these assets was based on various assumptions including our ability to redeploy and utilize the assets at other sites. We recognized impairment losses related to leasehold improvements, furniture & fixtures, and computer equipment of $1.3 million during the year ended June 30, 2024, which is included in selling, general and administrative expense in the consolidated statements of comprehensive income. There were no impairment losses recognized during the years ended June 30, 2023 or 2022.

Leases

The Company determines whether an arrangement contains a lease at inception in accordance with the provisions of ASC 842, Leases. Operating leases are included in operating lease assets and current and non-current operating lease liabilities, and assets leased under finance leases are included in property and equipment, net and current and long-term 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. 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.

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.

During the year ended June 30, 2024, we determined that the estimated fair value for one of our operating leases no longer exceeded its carrying value. The fair value of the lease asset was based on various assumptions including market-based factors and our ability to utilize the site in the future. We recognized an impairment loss on the operating lease asset of $0.3 million during the year ended June 30, 2024, which is included in selling, general and administrative expense in the consolidated statements of comprehensive income. There were no impairment losses recognized during the years ended June 30, 2023 or 2022.

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 years ended June 30, 2024, 2023 or 2022.

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 years ended June 30, 2024, 2023 or 2022.

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. 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. 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.

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 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

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, 2024, 2023, and 2022, the Company incurred plan expenses of $1.4 million, $1.2 million, and $1.0 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, 2024 and 2023, defined benefit obligations of $1.3 million and $1.2 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, 2024, 2023, and 2022 were $0.3 million, $0.4 million, and $0.4 million, respectively.

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

The Company accounts for a warrant to purchase its common shares as an equity instrument in accordance with the provisions of ASU No. 2019-08, Compensation – Stock Compensation (Topic 718) and ASC 606, 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. The Company records valuation allowances against its deferred tax assets based on whether it is more likely than not that the deferred tax assets will be realized. 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 programs

The Company’s board of directors (the “Board”) 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.

The Board will review the repurchase program periodically and may authorize adjustment of its terms and size, and suspend or discontinue the program. The Company has funded and expects to fund future repurchases with its existing cash balance. The share repurchase programs do not obligate the Company to acquire any particular amount of common shares. See Note 14. “Stockholders’ Equity” 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 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 Note 17. “Investment in Joint Venture” for more information.

Cloud Computing Software Implementation Costs

The Company incurs costs to implement cloud computing arrangements that are hosted by a third-party vendor. In accordance with ASC 350-40, Goodwill and Other, Internal-Use Software, for cloud computing arrangements that meet the definition of a service contract, the Company capitalizes qualifying implementation costs incurred during the application development stage in other non-current assets. Capitalized costs are primarily comprised of third-party consulting fees, direct labor, and related expenses. Capitalization of these costs concludes once the project is substantially complete and the software is ready for the Company's intended use. Once available for its intended use, the capitalized costs will be amortized on a straight-line basis over the term of the associated hosting arrangement including periods covered by an option to extend, and are included in selling, general and administrative expenses in the consolidated statements of comprehensive income. Costs related to data conversion, overhead, general and administrative activities, and training are expensed as incurred. Post-configuration training and maintenance costs are expensed as incurred.

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 Issued Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The amendments in ASU No. 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of the new guidance on the disclosures to our consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign), and (3) the income tax expense or benefit from continuing operations (separated by federal, state and foreign). This update also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The amendments in ASU No. 2023-09 are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of the new guidance on the disclosures to our consolidated financial statements.

In March 2024, the SEC issued its final climate disclosure rules, which require the disclosure of climate-related information in annual reports and registration statements. The rules require disclosure in the audited financial statements of certain effects of severe weather events and other natural conditions above certain financial thresholds, as well as amounts related to carbon offsets and renewable energy credits or certificates, if material. Disclosure requirements will begin phasing in for fiscal years beginning on or after January 1, 2025. On April 4, 2024, the SEC determined to voluntarily stay the final rules pending certain legal challenges. We are currently evaluating the impact of the new rules on the disclosures to our consolidated financial statements.

Warrant (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	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)	1,171,812	1,004,410
Warrant contra revenue	$ 1,183	$ 1,090	$ 970

Share Based Compensation - Estimates and Assumptions in Valuation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Phantom stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected, minimum	36.12%	33.41%	32.60%
Expected, maximum	37.87%	36.33%	37.20%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate, minimum	4.33%	4.05%	3.01%
Risk-free interest rate, maximum	4.90%	4.87%	3.03%
Outstanding, Aggregate intrinsic value	$ 113	$ 188
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 4 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	6 years 1 month 13 days	5 years 7 months 28 days
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected, minimum	35.49%	32.89%	31.30%
Expected, maximum	35.87%	33.39%	31.54%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate, minimum	4.24%	3.75%	1.28%
Risk-free interest rate, maximum	4.33%	4.11%	2.00%
Outstanding, Aggregate intrinsic value	$ 962	$ 3,501
Stock options \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	6 years 1 month 13 days	6 years 1 month 13 days	6 years 29 days
Stock options \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term			7 years

Leases (Tables)

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Components of Lease Cost and Supplemental Cash Flow Information

The components of lease cost are as follows:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Operating lease cost:
Operating lease cost	$	19,753	$	21,614	$	21,442
Variable lease cost	2,949		4,127		4,207
Short-term lease cost	211		—		—
Total operating lease cost	$	22,913	$	25,741	$	25,649

Finance lease cost:
Amortization of right of use assets	$	653	$	446	$	375
Interest on lease liabilities	235		143		93
Total finance lease cost	$	888	$	589	$	468

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


($000s)	June 30, 2024		June 30, 2023		June 30, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	13,528	$	14,309	$	12,926
Operating cash flows paid for interest portion of finance leases	235		143		93
Financing cash flows paid for principal portion of finance leases	490		447		818

The following table presents supplemental noncash information related to leases:


($000s)	June 30, 2024		June 30, 2023
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	6,069	$	11,281
Finance leases	$	1,040	$	881
Reduction due to reassessment of lease renewal options
Right-of-use assets	$	(3,656)	$	—
Operating lease liabilities	$	(3,689)	$	—


	June 30, 2024		June 30, 2023
Weighted average remaining lease term (in years)
Operating leases	5.1		5.7
Finance leases	2.2		2.6

Weighted average discount rate
Operating leases	10.5	%	9.2	%
Finance leases	22.3	%	13.4	%

Supplemental Balance Sheet Disclosures

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


($000s)	June 30, 2024		June 30, 2023
Operating lease assets	$	59,145	$	70,919

Operating lease liabilities, current	$	12,051	$	13,036
Operating lease liabilities, non-current	53,441		64,854
Total operating lease liabilities	$	65,492	$	77,890

Finance lease assets, net	$	1,697	$	929

Finance lease liabilities, current	$	660	$	361
Finance lease liabilities, non-current	867		600
Total finance lease liabilities	$	1,527	$	961

Operating lease maturity

The following table presents the maturities of our lease liabilities as of June 30, 2024:


($000s)	Operating Leases		Finance Leases
Year Ending
2025	$	17,384	$	916
2026	15,968		701
2027	15,746		304
2028	14,222		—
2029	12,082		—
Thereafter	10,815		—
Total undiscounted lease payments	86,217		1,921
Less: liability accretion	(20,725)		(394)
Total lease liabilities	$	65,492	$	1,527

Finance lease maturity

The following table presents the maturities of our lease liabilities as of June 30, 2024:


($000s)	Operating Leases		Finance Leases
Year Ending
2025	$	17,384	$	916
2026	15,968		701
2027	15,746		304
2028	14,222		—
2029	12,082		—
Thereafter	10,815		—
Total undiscounted lease payments	86,217		1,921
Less: liability accretion	(20,725)		(394)
Total lease liabilities	$	65,492	$	1,527

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Property and Equipment [Line Items]
Property and equipment, gross	$ 165,436	$ 165,679
Less: Accumulated depreciation	(135,574)	(124,528)
Property and equipment, net	29,862	41,151
Depreciation expense	19,500	19,000	$ 18,100
United States
Property and Equipment [Line Items]
Property and equipment, net	5,920	10,751
Philippines
Property and Equipment [Line Items]
Property and equipment, net	5,667	9,117
Pakistan
Property and Equipment [Line Items]
Property and equipment, net	6,739	3,923
Jamaica
Property and Equipment [Line Items]
Property and equipment, net	8,659	13,374
Nicaragua
Property and Equipment [Line Items]
Property and equipment, net	2,082	3,421
Honduras
Property and Equipment [Line Items]
Property and equipment, net	795	565
Leasehold improvements
Property and Equipment [Line Items]
Property and equipment, gross	34,421	37,356
Furniture & fixtures
Property and Equipment [Line Items]
Property and equipment, gross	28,842	31,228
Computer equipment
Property and Equipment [Line Items]
Property and equipment, gross	76,283	73,824
Software
Property and Equipment [Line Items]
Property and equipment, gross	21,359	21,057
Vehicles
Property and Equipment [Line Items]
Property and equipment, gross	2,826	1,779
Assets under construction
Property and Equipment [Line Items]
Property and equipment, gross	$ 1,705	$ 435

Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
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 - 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 - foreign currency collars, net	335	100
Total liabilities	1,349	1,273
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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	1,014	1,173
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

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

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-Paragraph 10
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-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

+ Details

Stockholders' Equity (Tables)

12 Months Ended

Jun. 30, 2024

Equity [Abstract]

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

The following table presents changes by component for the years ended June 30, 2024, 2023, and 2022:


($000s)	Foreign Currency Translation Adjustment		Derivative Valuation		Defined Benefit Plan		Total
Balance as of June 30, 2021	$	(1,745)	$	(316)	$	(337)	$	(2,398)
Foreign currency translation	(2,281)		—		—		(2,281)
Actuarial gains on defined benefit plan	—		—		287		287
Unrealized 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 losses on defined benefit plan	—		—		(120)		(120)
Unrealized losses on cash flow hedges	—		(479)		—		(479)
Reclassifications to earnings	—		1,156		89		1,245
Tax benefit	—		(162)		—		(162)
Balance as of June 30, 2023	$	(6,260)	$	(124)	$	72	$	(6,312)
Foreign currency translation	(1,623)		—		—		(1,623)
Actuarial gains on defined benefit plan	—		—		133		133
Unrealized losses on cash flow hedges	—		(412)		—		(412)
Reclassifications to earnings	—		257		—		257
Tax provision	—		44		—		44
Balance as of June 30, 2024	$	(7,883)	$	(235)	$	205	$	(7,913)

Schedule of Reclassifications from AOCI

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


($000s)	For the year ended June 30,
Description of AOCI components	2024		2023		2022		Statement of Other Comprehensive Income Classification
Foreign currency translation gain	$	—	$	173	$	—	Selling, general and administrative expense

Gains / (losses) on foreign currency hedges	$	(257)	$	(1,201)	$	(319)	Cost of services
Gains / (losses) on interest rate swap	—		45		(45)		Interest expense, net
Tax provision	(44)		162		(218)		Provision for income taxes
Total derivative valuation	$	(301)	$	(994)	$	(582)

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

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2024
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Tampa, Florida
Auditor Firm ID	34

Fair Value (Tables)

12 Months Ended

Jun. 30, 2024

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, 2024 and 2023:


As of June 30, 2024	Fair Value Measurements Using
($000s)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)




Liabilities
Cash flow hedge - foreign currency collars, net	$	—	$	335	$	—
Phantom stock options	—		1,014		—
Total liabilities	$	—	$	1,349	$	—


As of June 30, 2023	Fair Value Measurements Using
($000s)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)




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

Revenue from Contracts with Customers (Tables)

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Breakdown of Revenues by Geographical Location

The Company generated its revenue from clients based in the United States and other countries as below:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Revenue
United States	$	493,015	$	509,170	$	476,092
Other countries	15,554		13,948		16,759
Total	$	508,569	$	523,118	$	492,851

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:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Revenue
Onshore (United States)	$	120,153	$	145,401	$	167,925
Offshore (Philippines, Pakistan)	244,825		221,913		186,902
Nearshore (Jamaica, Nicaragua, Honduras)	143,591		155,804		138,024
Total	$	508,569	$	523,118	$	492,851

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:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Pattern of Revenue recognition
Services transferred over time	$	477,663	$	489,942	$	455,206
Services transferred at a point in time	30,906		33,176		37,645
	$	508,569	$	523,118	$	492,851

Schedule of Movement in Deferred Revenue

The movement in the deferred revenue is as follows:


($000s)	June 30, 2024		June 30, 2023
Beginning balance	$	7,796	$	12,593
Revenue recognized	(8,509)		(11,329)
Revenue deferred	6,590		6,532
Ending balance	$	5,877	$	7,796

Overview and Summary of Significant Accounting Policies - Narrative (Details) interaction in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) interaction deliveryLocation segment	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Number of interactions managed per year \| interaction	169
Number of operating segments \| segment	1
Number of reportable segments \| segment	1
Number of delivery locations with impairment charges \| deliveryLocation	2
Impairment loss	$ 1,300,000	$ 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	Total long-term debt
Impairment loss on operating lease asset	$ 300,000
Goodwill impairment charges	0	$ 0	0
Intangible asset impairment	$ 0	0	0
Employer matching contribution, percent of compensation	4.00%
Plan expenses	$ 1,400,000	1,200,000	1,000,000.0
Defined benefit obligations	1,300,000	1,200,000
Defined benefit pension costs	300,000	400,000	$ 400,000
Capitalized cost	3,500,000	$ 0
Severance costs	1,600,000
Accrued severance	$ 800,000
Minimum
Restructuring Cost and Reserve [Line Items]
Notice period for contract termination	30 days
Maximum
Restructuring Cost and Reserve [Line Items]
Notice period for contract termination	120 days
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 1,400,000
Cost of services
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 200,000

Revenue from Contracts with Customers - Revenue Disaggregated by Pattern of Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 508,569	$ 523,118	$ 492,851
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue	477,663	489,942	455,206
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue	$ 30,906	$ 33,176	$ 37,645

- 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 - Summarized Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Increase (Decrease) In Equity Method Investment [Roll Forward]
Opening balance	$ 372	$ 382
Dividends received	(1,013)	(725)
Share of profit	1,056	715
Ending balance	$ 415	$ 372

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	May 01, 2024
Equity [Abstract]
Authorized amount of share buyback program				$ 30,000
Authorized amount available for repurchase	$ 26,900
Purchase of treasury shares (in shares)	1,322,105	17,558
Purchase of treasury shares	$ 21,685	$ 276	$ 3,406

Share Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Phantom stock options
Share options
Beginning balance, outstanding (in shares)	211,350
Granted (in shares)	56,000
Exercised (in shares)	(639)
Forfeited / expired (in shares)	(8,460)
Ending balance, outstanding (in shares)	258,251	211,350
Weighted Average Exercise Price
Beginning balance, outstanding (in dollars per share)	$ 22.18
Granted (in dollars per share)	15.64
Exercised (in dollars per share)	6.81
Forfeited / expired (in dollars per share)	25.88
Ending balance, outstanding (in dollars per share)	$ 20.68	$ 22.18
Additional disclosures
Outstanding, Weighted average remaining contractual term (years)	7 years 10 months 9 days	8 years 4 months 17 days
Granted, Weighted average remaining contractual term (years)	9 years 9 months 3 days
Exercised, Weighted average remaining contractual term (years)	3 years 7 months 24 days
Exercised, Aggregate intrinsic value	$ 7	$ 600	$ 200
Forfeited / expired, Weighted average remaining contractual term (years)	8 years 6 months 3 days
Outstanding, Aggregate intrinsic value	$ 113	$ 188
Vested and exercisable, Number of share options (in shares)	147,459
Vested and exercisable, Weighted average exercise price (in dollars per share)	$ 20.89
Vested and exercisable, Weighted average remaining contractual term (years)	6 years 10 months 2 days
Vested and exercisable, Aggregate intrinsic value	$ 83
Stock options
Share options
Beginning balance, outstanding (in shares)	941,599
Granted (in shares)	142,000
Exercised (in shares)	(28,548)
Forfeited / expired (in shares)	(98,668)
Ending balance, outstanding (in shares)	956,383	941,599
Weighted Average Exercise Price
Beginning balance, outstanding (in dollars per share)	$ 18.78
Granted (in dollars per share)	15.62
Exercised (in dollars per share)	12.82
Forfeited / expired (in dollars per share)	19.45
Ending balance, outstanding (in dollars per share)	$ 18.31	$ 18.78
Additional disclosures
Outstanding, Weighted average remaining contractual term (years)	7 years 3 months	7 years 10 months 20 days
Granted, Weighted average remaining contractual term (years)	9 years 9 months
Exercised, Weighted average remaining contractual term (years)	6 years 14 days
Exercised, Aggregate intrinsic value	$ 101	$ 1,000	$ 0
Forfeited / expired, Weighted average remaining contractual term (years)	7 years 8 months 26 days
Outstanding, Aggregate intrinsic value	$ 962	$ 3,501
Vested and exercisable, Number of share options (in shares)	635,935
Vested and exercisable, Weighted average exercise price (in dollars per share)	$ 17.29
Vested and exercisable, Weighted average remaining contractual term (years)	6 years 5 months 15 days
Vested and exercisable, Aggregate intrinsic value	$ 850

Property and Equipment, Net (Tables)

12 Months Ended

Jun. 30, 2024

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:


($000s)	June 30, 2024		June 30, 2023
Leasehold improvements	$	34,421	$	37,356
Furniture & fixtures	28,842		31,228
Computer equipment	76,283		73,824
Software	21,359		21,057
Vehicles	2,826		1,779
Assets under construction	1,705		435
Property and equipment, gross	$	165,436	$	165,679
Less: Accumulated depreciation	(135,574)		(124,528)
Property and equipment, net	$	29,862	$	41,151

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


($000s)	June 30, 2024		June 30, 2023
United States	$	5,920	$	10,751
Philippines	5,667		9,117
Pakistan	6,739		3,923
Jamaica	8,659		13,374
Nicaragua	2,082		3,421
Honduras	795		565
Total	$	29,862	$	41,151

Stockholders' Equity

12 Months Ended

Jun. 30, 2024

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

AOCI

The following table presents changes by component for the years ended June 30, 2024, 2023, and 2022:


($000s)	Foreign Currency Translation Adjustment		Derivative Valuation		Defined Benefit Plan		Total
Balance as of June 30, 2021	$	(1,745)	$	(316)	$	(337)	$	(2,398)
Foreign currency translation	(2,281)		—		—		(2,281)
Actuarial gains on defined benefit plan	—		—		287		287
Unrealized 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 losses on defined benefit plan	—		—		(120)		(120)
Unrealized losses on cash flow hedges	—		(479)		—		(479)
Reclassifications to earnings	—		1,156		89		1,245
Tax benefit	—		(162)		—		(162)
Balance as of June 30, 2023	$	(6,260)	$	(124)	$	72	$	(6,312)
Foreign currency translation	(1,623)		—		—		(1,623)
Actuarial gains on defined benefit plan	—		—		133		133
Unrealized losses on cash flow hedges	—		(412)		—		(412)
Reclassifications to earnings	—		257		—		257
Tax provision	—		44		—		44
Balance as of June 30, 2024	$	(7,883)	$	(235)	$	205	$	(7,913)

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


($000s)	For the year ended June 30,
Description of AOCI components	2024		2023		2022		Statement of Other Comprehensive Income Classification
Foreign currency translation gain	$	—	$	173	$	—	Selling, general and administrative expense

Gains / (losses) on foreign currency hedges	$	(257)	$	(1,201)	$	(319)	Cost of services
Gains / (losses) on interest rate swap	—		45		(45)		Interest expense, net
Tax provision	(44)		162		(218)		Provision for income taxes
Total derivative valuation	$	(301)	$	(994)	$	(582)

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

Share repurchase programs

The Board may authorize share repurchases of the Company’s common shares and the Company had multiple share repurchase plans during the years ended June 30, 2024 and 2023. On May 1, 2024, the Board authorized $30 million in share repurchases during the next twelve months (the "2024 Share Repurchase Program"). As of June 30, 2024, the aggregate amount available for repurchase under the 2024 Share Repurchase Program was $26.9 million.

For the years ended June 30, 2024 and 2023, the Company repurchased 1,322,105 and 17,558 shares, respectively, of its common shares totaling $21.7 million, and $0.3 million, respectively. All repurchases under these programs were funded with our existing cash balance.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Share Based Compensation

12 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Share Based Compensation

SHARE BASED COMPENSATION

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,
	2024		2023		2022
Cost of services	$	76	$	298	$	105
Selling, general and administrative	3,689		4,308		1,746
Total stock compensation expense	$	3,765	$	4,606	$	1,851

	Year ended June 30,
	2024		2023		2022
Phantom Stock Plans	$	(152)	$	800	$	33
2018 Restricted Share Plan	—		(7)		6
2020 Long Term Incentive Plan	3,917		3,813		1,812
Total stock compensation expense	$	3,765	$	4,606	$	1,851

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 pursuant to the terms of the plans.

The following table summarizes the phantom stock option activity for the year ended June 30, 2024:


	Share options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate intrinsic value (thousands)
Outstanding as of June 30, 2023	211,350	$	22.18	8.38	$	188
Granted	56,000	15.64		9.76
Exercised	(639)	6.81		3.65	7
Forfeited / expired	(8,460)	25.88		8.51
Outstanding as of June 30, 2024	258,251	$	20.68	7.86	$	113
Vested and exercisable as of June 30, 2024	147,459	$	20.89	6.84	$	83

The weighted average fair value of the phantom stock options outstanding as of June 30, 2024, 2023, and 2022 was $5.71, $8.33, and $5.59 respectively. The total pre-tax intrinsic value of the options exercised during the years ended June 30, 2024, 2023, and 2022 was $0.0 million, $0.6 million, and $0.2 million, respectively. The liability for outstanding phantom stock options as of June 30, 2024 and 2023 was $1.0 million and $1.2 million, respectively, and is included in accrued liabilities and other non-current liabilities in the consolidated balance sheets.

Phantom stock option awards vest based on service conditions. The Company has elected to use the Black-Scholes model to calculate the fair value of Phantom stock options. The Black-Scholes 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 dividend yield and the risk-free interest rate.


	June 30, 2024	June 30, 2023	June 30, 2022
Expected term	1.40 - 6.12 years	1.40 - 6.12 years	1.40 - 5.66 years
Expected volatility	36.12% - 37.87%	33.41% - 36.33%	32.60% - 37.20%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	4.33% - 4.90%	4.05% to 4.87%	3.01% - 3.03%

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 date of valuation.

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

As of June 30, 2024, the unrecognized compensation expense associated with the phantom stock plans is $0.5 million, which will be recognized over the remaining weighted average vesting period of 3.54 years using a graded vesting model.

2018 Restricted Share Plan

On December 21, 2018, our Board 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 the 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 under the 2018 RSA Plan 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, 2023	6,284	$	0.61
Granted	—	—
Vested	(6,284)	0.61
Forfeitures / cancellations / expirations	—	—
Unvested as of June 30, 2024	—	$	—

2020 Long Term Incentive Plan

On May 20, 2020, our Board 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 restricted stock units.

Stock options

The Company granted stock options to new and existing employees and members of the Board over the last four 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 stock options typically expire ten years after they are granted.

The following table summarizes the stock option activity for the year ended June 30, 2024:


	Share options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate intrinsic value (thousands)
Outstanding as of June 30, 2023	941,599	$	18.78	7.89	$	3,501
Granted	142,000	15.62		9.75
Exercised	(28,548)	12.82		6.04	101
Forfeited / expired	(98,668)	19.45		7.74
Outstanding as of June 30, 2024	956,383	$	18.31	7.25	$	962
Vested and exercisable as of June 30, 2024	635,935	$	17.29	6.46	$	850

The weighted-average grant-date fair value of options granted during the years ended June 30, 2024, 2023, and 2022 was $6.70, $10.37, and $6.04, respectively. The total pre-tax intrinsic value of the options exercised during the years ended June 30, 2024, 2023, and 2022 was $0.1 million, $1.0 million, and $0.0 million, respectively.

We use the Black-Scholes model to determine the grant-date fair value of the stock options, which was estimated using the following assumptions:

June 30,
2024

June 30,
2023

June 30,
2022

Expected term

6.12 years

6.08 - 7.00 years

Expected volatility

35.49% - 35.87%

32.89% - 33.39%

31.30% - 31.54%

Expected dividend yield

0.00%

Risk-free interest rate

4.24% to 4.33%

3.75% to 4.11%

1.28% to 2.00%

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 units

The Company granted restricted stock units (“RSU”) over the last three fiscal years, which vest based on service conditions over four years.

The Company granted restricted stock units that are subject to service and performance conditions over the last three fiscal years, which are referred to as performance-based restricted stock units (“PRSU”). Performance triggers are based on revenue or EBITDA targets. If such targets are met, awards begin vesting on a three-year schedule. 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 common shares 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 awards granted during the years ended June 30, 2024 and 2022 was $17.13 and $16.71, respectively. There were no awards granted during the year ended June 30, 2023. The total fair value of RSU and PRSU awards vested during the years ended June 30, 2024, 2023, and 2022 was $0.3 million, $0.6 million and $0.0 million, respectively.

A summary of the unvested RSU and PRSU activity for the year ended June 30, 2024 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested as of June 30, 2023	545,181	$	16.28
Granted	50,000	17.13
Vested	(14,902)	16.28
Forfeitures / cancellations / expirations	(8,898)	16.28
Unvested as of June 30, 2024	571,381	$	16.35

As of June 30, 2024, there was approximately $5.7 million of total unrecognized compensation expense related to the 2020 LTIP options, RSU, and PRSU awards, which will be recognized over the remaining weighted average vesting period of 2.92 years using a graded vesting model.

Commitments	12 Months Ended
Commitments	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments	COMMITMENTS As of June 30, 2024, 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 $8.7 million in the next twelve months and $6.9 million thereafter related to these contracts.

Share Based Compensation (Tables)

12 Months Ended

Jun. 30, 2024

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,
	2024		2023		2022
Cost of services	$	76	$	298	$	105
Selling, general and administrative	3,689		4,308		1,746
Total stock compensation expense	$	3,765	$	4,606	$	1,851

	Year ended June 30,
	2024		2023		2022
Phantom Stock Plans	$	(152)	$	800	$	33
2018 Restricted Share Plan	—		(7)		6
2020 Long Term Incentive Plan	3,917		3,813		1,812
Total stock compensation expense	$	3,765	$	4,606	$	1,851

Summary of Stock Option Activity

The following table summarizes the phantom stock option activity for the year ended June 30, 2024:


	Share options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate intrinsic value (thousands)
Outstanding as of June 30, 2023	211,350	$	22.18	8.38	$	188
Granted	56,000	15.64		9.76
Exercised	(639)	6.81		3.65	7
Forfeited / expired	(8,460)	25.88		8.51
Outstanding as of June 30, 2024	258,251	$	20.68	7.86	$	113
Vested and exercisable as of June 30, 2024	147,459	$	20.89	6.84	$	83

The following table summarizes the stock option activity for the year ended June 30, 2024:


	Share options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate intrinsic value (thousands)
Outstanding as of June 30, 2023	941,599	$	18.78	7.89	$	3,501
Granted	142,000	15.62		9.75
Exercised	(28,548)	12.82		6.04	101
Forfeited / expired	(98,668)	19.45		7.74
Outstanding as of June 30, 2024	956,383	$	18.31	7.25	$	962
Vested and exercisable as of June 30, 2024	635,935	$	17.29	6.46	$	850

Schedule of Estimates and Assumptions in Valuation

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


	June 30, 2024	June 30, 2023	June 30, 2022
Expected term	1.40 - 6.12 years	1.40 - 6.12 years	1.40 - 5.66 years
Expected volatility	36.12% - 37.87%	33.41% - 36.33%	32.60% - 37.20%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	4.33% - 4.90%	4.05% to 4.87%	3.01% - 3.03%

We use the Black-Scholes model to determine the grant-date fair value of the stock options, which was estimated using the following assumptions:

June 30,
2024

June 30,
2023

June 30,
2022

Expected term

6.12 years

6.08 - 7.00 years

Expected volatility

35.49% - 35.87%

32.89% - 33.39%

31.30% - 31.54%

Expected dividend yield

0.00%

Risk-free interest rate

4.24% to 4.33%

3.75% to 4.11%

1.28% to 2.00%

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, 2023	6,284	$	0.61
Granted	—	—
Vested	(6,284)	0.61
Forfeitures / cancellations / expirations	—	—
Unvested as of June 30, 2024	—	$	—

Summary of Restricted Stock Unit Activity

A summary of the unvested RSU and PRSU activity for the year ended June 30, 2024 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested as of June 30, 2023	545,181	$	16.28
Granted	50,000	17.13
Vested	(14,902)	16.28
Forfeitures / cancellations / expirations	(8,898)	16.28
Unvested as of June 30, 2024	571,381	$	16.35

Weighted Average Share Counts

12 Months Ended

Jun. 30, 2024

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, 2024, 2023, and 2022:


(000s)	2024	2023	2022
Shares used in basic earnings per share calculation	17,704	18,200	18,232
Effect of dilutive securities:
Employee share-based compensation	81	199	227
Warrant	470	495	265
Total effects of dilutive securities	551	694	492
Shares used in dilutive earnings per share calculation	18,255	18,893	18,724

Shares considered anti-dilutive using the treasury method	549	367	18

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Deferred tax assets
Provision for credit losses	$ 0	$ 99
Provision for employee benefits and other expenses	1,724	755
Tax credit carryforwards	0	2,427
Section 174 research and development capitalization	1,116	589
Net operating losses	1,879	2,394
Property and equipment, net	687	534
Intangible assets	0	3
Lease liability (right of use assets)	5,048	6,547
Net unrealized loss on hedging	103	56
Total deferred tax assets	10,557	13,404
Valuation allowance	(1,127)	(1,463)
Total deferred tax assets, net of valuation allowance	9,430	11,941
Deferred tax liabilities
Property and equipment, net	0	(732)
Right of use assets	(3,957)	(5,440)
Intangible assets	(1,178)	(1,184)
Other liability	(10)	0
Total deferred tax liabilities	(5,145)	(7,356)
Net deferred tax assets and liabilities	$ 4,285	$ 4,585

Stockholders' Equity - Reclassifications from AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative	$ 93,143	$ 88,663	$ 80,153
Interest expense, net	514	792	1,289
Provision for income tax (expense) / benefit	(7,331)	(8,744)	2,077
Net income	33,655	31,582	21,456
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	0	173	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)	(257)	(1,201)	(319)
Interest expense, net	0	45	(45)
Provision for income tax (expense) / benefit	(44)	162	(218)
Net income	(301)	(994)	(582)
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)	$ 0	$ (89)	$ (153)

Debt (Tables)

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Debt consists of the following:


($000s)	June 30, 2024		June 30, 2023
Debt
PNC Credit Facility	$	—	$	52



Finance leases	1,527		961
Total debt	$	1,527	$	1,013
Less: Current maturities of long-term debt and finance leases	(660)		(413)
Total long-term debt	$	867	$	600

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Derivatives - Fair Value Cash Flow Hedging (Details) - Foreign Exchange Contracts $ in Thousands	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 9,789
Fair value, liability	$ 335	$ 100
Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency rate	54.00
Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency rate	57.50

Income Taxes

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Income before income taxes includes the following components:


($000s)	2024		2023		2022
United States	$	18,492	$	21,938	$	1,996
Foreign	22,494		18,388		17,383
Total	$	40,986	$	40,326	$	19,379

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


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Current tax expense:
Federal	$	3,203	$	385	$	—
State	1,532		487		647
Foreign	2,241		3,467		2,575
Total current expense	$	6,976	$	4,339	$	3,222

Deferred tax:
Federal	(124)		4,019		(3,759)
State	155		843		(1,025)
Foreign	324		(457)		(515)
Total deferred expense (benefit)	$	355	$	4,405	$	(5,299)

Provision for income tax expense (benefit)	$	7,331	$	8,744	$	(2,077)

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. Historically, the Company’s Bermuda-based companies are not subject to income tax as there is no corporate income tax in Bermuda. On December 27, 2023 the Bermuda Corporate Income Tax Act 2023 was passed which provides for a 15% corporate tax rate beginning on or after January 1, 2025 for companies with revenue in excess of 750 million Euros. The Company is evaluating the impact of this legislation, but it does not anticipate that it will have a material impact on the Company’s operations.

Differences between U.S. federal statutory income tax rates and our effective tax rates for the years ended June 30, 2024, 2023, and 2022 are as follows:


	June 30, 2024		June 30, 2023		June 30, 2022

U.S. federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal deduction	2.8	%	1.4	%	3.0	%
Foreign rate differential	(4.7)	%	(5.7)	%	(8.6)	%
Non-deductible expenses / exempt income	1.0	%	1.2	%	1.5	%
Employment and other tax credits	(1.8)	%	(2.9)	%	(7.7)	%
Prior year provision / other items	0.5	%	3.1	%	0.4	%
Unrecognized losses utilized during the year	—	%	—	%	(0.7)	%
Change in valuation allowance	(0.9)	%	3.6	%	(19.6)	%
Effective tax rate percentage	17.9	%	21.7	%	(10.7)	%

The effective tax rate was 17.9% and 21.7% for the fiscal years ended June 30, 2024 and 2023, respectively. The decrease in the effective tax rate between these periods was primarily attributable to changes in revenue mix across our taxable jurisdictions and discrete items recorded in the prior year.

We have been granted “Tax Holidays” as an incentive to attract foreign investment by the governments of Nicaragua, Pakistan, Honduras, Jamaica, 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 Nicaragua, we have been granted approval of exemption from income taxes until 2025, which can be extended for another 10 years upon application. In Pakistan, we have been granted approval for an indefinite exemption from income taxes on all exported IT services. In Honduras, we have been granted approval of exemption from income taxes under the Free Tax Zone Law until 2033. In Jamaica, we have been granted the Special Economic Zone (SEZ) developer status for multiple sites, which provides the Company with various tax incentives under the Jamaica SEZ Act including lower income tax rates. 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 $5.4 million, $3.4 million, and $2.7 million for the years ended June 30, 2024, 2023, and 2022, respectively. The aggregate reduction in income tax expense per diluted share was $0.18, $0.18, and $0.15 for the years ended June 30, 2024, 2023, and 2022, respectively.

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


($000s)	June 30, 2024		June 30, 2023
Deferred tax assets
Provision for credit losses	$	—	$	99
Provision for employee benefits and other expenses	1,724		755
Tax credit carryforwards	—		2,427
Section 174 research and development capitalization	1,116		589
Net operating losses	1,879		2,394
Property and equipment, net	687		534
Intangible assets	—		3
Lease liability (right of use assets)	5,048		6,547
Net unrealized loss on hedging	103		56
Total deferred tax assets	$	10,557	$	13,404
Valuation allowance	(1,127)		(1,463)
Total deferred tax assets, net of valuation allowance	$	9,430	$	11,941

Deferred tax liabilities
Property and equipment, net	$	—	$	(732)
Right of use assets	(3,957)		(5,440)
Intangible assets	(1,178)		(1,184)
Other liability	(10)		—
Total deferred tax liabilities	$	(5,145)	$	(7,356)

Net deferred tax assets and liabilities	$	4,285	$	4,585

The Company had no U.S. gross federal net operating loss carry forwards as of June 30, 2024 and 2023, respectively, and gross state net operating loss carry forwards of approximately $12.4 million and $15.1 million, as of June 30, 2024 and 2023, 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 as of June 30, 2024 and 2023, respectively, which will begin to expire in 2028. The Company’s UK and European subsidiaries have net operating loss carry forward of $2.2 million and $3.4 million, as of June 30, 2024 and 2023, respectively, which can be carried forward indefinitely. These amounts are estimated amounts for the year ended June 30, 2024, and based on the income tax returns filed for the year ended June 30, 2023.

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 $1.1 million and $1.5 million have been recorded as of June 30, 2024 and 2023, 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, 2024, 2023, and 2022 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, 2024, 2023 and 2022. We do not have any interest or penalties accrued as of June 30, 2024 and 2023.

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 2020 and forward are subject to examination. Tax return filings in the United Kingdom for the year ended June 2020 and onward are still open for examination. Tax return filings in Canada for the year ended June 2021 and onward are still open for examination. Tax return filings in Luxembourg for the year ended June 2019 and onward are still open for examination as well as Cyprus tax returns for their tax years ending June 2018.

In April 2024, one of our foreign jurisdictions received an assessment relating to a fiscal year 2020. As of June 30, 2024, the Company had recorded a reserve of $0.2 million related to this assessment.

In June 2024, a U.S. subsidiary received a letter from the Internal Revenue Services (“IRS”) requesting information for examination of the year ended June 30, 2022. While we believe that our tax positions are appropriate and in compliance with U.S. federal law, the final determination of any tax, audit, or related litigation could be materially different from our historical tax provisions and accruals. The specific areas of focus for the examination are not yet fully determined.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
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+ Details

Income Taxes - Differences Between Statutory and Effective Tax Rates (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal deduction	2.80%	1.40%	3.00%
Foreign rate differential	(4.70%)	(5.70%)	(8.60%)
Non-deductible expenses / exempt income	1.00%	1.20%	1.50%
Employment and other tax credits	(1.80%)	(2.90%)	(7.70%)
Prior year provision / other items	0.50%	3.10%	0.40%
Unrecognized losses utilized during the year	0.00%	0.00%	(0.70%)
Change in valuation allowance	(0.90%)	3.60%	(19.60%)
Effective tax rate percentage	17.90%	21.70%	(10.70%)

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Holiday [Line Items]
Effective tax rate percentage	17.90%	21.70%	(10.70%)
Reduction in income tax expense due to tax holiday	$ 5,400,000	$ 3,400,000	$ 2,700,000
Reduction in income tax expense due to tax holiday (in dollars per share)	$ 0.18	$ 0.18	$ 0.15
Valuation allowance	$ 1,127,000	$ 1,463,000
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
Reserve related to assessment	200,000
State
Income Tax Holiday [Line Items]
Operating loss carryforwards	12,400,000	15,100,000
Canadian subsidiary \| Foreign Tax Authority
Income Tax Holiday [Line Items]
Operating loss carryforwards	2,100,000	2,100,000
UK and European subsidiaries \| Foreign Tax Authority
Income Tax Holiday [Line Items]
Operating loss carryforwards	$ 2,200,000	$ 3,400,000
Nicaragua
Income Tax Holiday [Line Items]
Extension period of tax holiday	10 years

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 33,655	$ 31,582	$ 21,456
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19,461	18,985	18,100
Noncash lease expense	13,205	14,456	14,066
Warrant contra revenue	1,183	1,090	970
Deferred income tax provision / (benefit)	344	4,529	(5,170)
Share-based compensation expense	3,765	4,606	1,851
Allowance of expected credit losses	33	295	0
Impairment losses	1,532	0	0
Loss on lease terminations	0	251	0
Gain on sale of subsidiaries	0	(246)	0
Change in assets and liabilities:
Increase in accounts receivable	(12,068)	(12,297)	(9,705)
(Increase) / decrease in prepaid expenses and other current assets	(7,517)	1,467	3,551
(Decrease) / increase in accounts payable and accrued liabilities	(2,246)	(3,753)	2,307
(Decrease) / increase in deferred revenue	(1,919)	(4,797)	5,506
Decrease in operating lease liabilities	(13,528)	(14,309)	(12,926)
Net cash inflow from operating activities	35,900	41,859	40,006
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(8,855)	(18,952)	(25,919)
Cash outflow from sale of subsidiaries, net of cash received	0	(85)	0
Net cash outflow from investing activities	(8,855)	(19,037)	(25,919)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit	238	43,448	88,117
Repayments of line of credit	(291)	(54,597)	(99,227)
Repayment of debt	0	(3,795)	(6,834)
Proceeds from the exercise of options	366	2,053	35
Financing cash flows paid for principal portion of finance leases	(490)	(447)	(818)
Purchase of treasury shares	(21,556)	(276)	(3,406)
Net cash outflow from financing activities	(21,733)	(13,614)	(22,133)
Effects of exchange rate difference on cash and cash equivalents	(21)	(610)	(965)
Net increase / (decrease) in cash and cash equivalents	5,291	8,598	(9,011)
Cash and cash equivalents at beginning of the year	57,429	48,831	57,842
Cash and cash equivalents at end of the year	62,720	57,429	48,831
Supplemental cash flow disclosures
Cash paid for interest	514	152	1,246
Cash paid for income taxes	7,688	4,283	2,160
Supplemental non-cash disclosures
Change in accounts payable related to fixed assets	$ (548)	$ (621)
Change in accounts payable related to fixed assets			$ 1,631

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease assets	$ 59,145	$ 70,919
Operating lease liabilities, current	12,051	13,036
Operating lease liabilities, non-current	53,441	64,854
Total operating lease liabilities	65,492	77,890
Finance lease assets, net	1,697	929
Finance lease liabilities, current	660	361
Finance lease liabilities, non-current	867	600
Total finance lease liabilities	$ 1,527	$ 961

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Schedule of Debt [Line Items]
Finance leases	$ 1,527	$ 961
Total debt	1,527	1,013
Less: Current maturities of long-term debt and finance leases	(660)	(413)
Total long-term debt	867	600
PNC Credit Facility \| Revolving Credit Facility
Schedule of Debt [Line Items]
PNC Credit Facility	$ 0	$ 52

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Overview and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Estimated Useful Lives 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:


($000s)	June 30, 2024		June 30, 2023
Leasehold improvements	$	34,421	$	37,356
Furniture & fixtures	28,842		31,228
Computer equipment	76,283		73,824
Software	21,359		21,057
Vehicles	2,826		1,779
Assets under construction	1,705		435
Property and equipment, gross	$	165,436	$	165,679
Less: Accumulated depreciation	(135,574)		(124,528)
Property and equipment, net	$	29,862	$	41,151

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


($000s)	June 30, 2024		June 30, 2023
United States	$	5,920	$	10,751
Philippines	5,667		9,117
Pakistan	6,739		3,923
Jamaica	8,659		13,374
Nicaragua	2,082		3,421
Honduras	795		565
Total	$	29,862	$	41,151

Income Taxes - Major Components of the Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Current tax expense:
Federal	$ 3,203	$ 385	$ 0
State	1,532	487	647
Foreign	2,241	3,467	2,575
Total current expense	6,976	4,339	3,222
Deferred tax:
Federal	(124)	4,019	(3,759)
State	155	843	(1,025)
Foreign	324	(457)	(515)
Total deferred expense (benefit)	355	4,405	(5,299)
Provision for income tax expense (benefit)	$ 7,331	$ 8,744	$ (2,077)

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 (in shares) at Jun. 30, 2021		18,399,000
Balance, beginning 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)
Purchase of treasury shares (in shares)		(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
Provision for common stock warrants	970			970
Issue of common shares related to option issuances (in shares)		3,000
Issue of common shares related to option issuances	35			35
Stock based compensation expense	1,818			1,818
Balance, end of period (in shares) at Jun. 30, 2022		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
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)
Provision for common stock warrants	$ 1,090			1,090
Issue of common shares related to option issuances (in shares)		123,000
Issue of common shares related to option issuances	2,053			2,053
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	33,655					33,655
Foreign currency translation adjustment	(1,623)				(1,623)
Changes in fair value of cash flow hedges	$ (111)				(111)
Purchase of treasury shares (in shares)	(1,322,105)	(1,322,000)
Purchase of treasury shares	$ (21,685)		(21,685)
Changes in defined benefit plan	133				133
Provision for common stock warrants	1,183			1,183
Issue of common shares related to option issuances (in shares)		59,000
Issue of common shares related to option issuances	366			366
Stock based compensation expense	$ 3,917			3,917
Balance, end of period (in shares) at Jun. 30, 2024	17,017,476	17,017,000
Balance, end of period at Jun. 30, 2024	$ 165,799	$ 2	$ (25,367)	$ 210,200	$ (7,913)	$ (11,123)

Leases - Narrative (Details)	Jun. 30, 2024
Minimum
Lessee, Lease, Description [Line Items]
Lease term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term	15 years

Derivatives - Narrative (Details)	12 Months Ended
Derivatives - Narrative (Details)	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities
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

Derivatives (Tables)

12 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table shows the notional amount and fair value of our foreign exchange cash flow hedging instruments as of June 30, 2024 and 2023:

Settlement date

Hedged
currency

Foreign
currency rate

Notional
amount
($000s)

Fair Value
($000s)

Foreign currency option contracts - liabilities

July 8, 2024 through December 19, 2024

PHP

54.00 - 57.50

9,789

Fair value as of June 30, 2023

100

Fair value as of June 30, 2024

335

- 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

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Related Party Transaction [Line Items]
Revenue	$ 508,569	$ 523,118	$ 492,851
Accounts receivable	192	43
Other non-current assets	8,822	6,230
Accounts payable	60	2,314
Related Party
Related Party Transaction [Line Items]
Revenue	100	100	$ 100
Accounts receivable	200	0
Other non-current assets	1,100	1,100
Accounts payable	$ 100	$ 2,300

- Definition

+ References

+ Details

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Jun. 30, 2024 shares	Jun. 30, 2024 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 14, 2024, 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 16, 2024 and June 10, 2025, 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 14, 2024
Expiration Date	June 10, 2025
Arrangement Duration	267 days
Aggregate Available	27,000	27,000
John Leone [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 14, 2024, PineBridge Global Emerging Markets Partners II, L.P. adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 300,000 shares of the Company’s common stock between September 13, 2024 and September 12, 2025, subject to such shares reaching certain price points. John Leone, a director of the Company, serves on a three-member investment committee (the “Investment Committee”) for PineBridge GEM II G.P., L.P. (“GEM II GP”) that manages GEM II GP’s investment activities. GEM II GP is the 100% owner of the sole general partner of PineBridge Global Emerging Markets Partners II, L.P. As a result, GEM II GP, Mr. Leone, and the other two members of the Investment Committee may be attributed beneficial ownership of the reported shares and each disclaims beneficial ownership of the reported shares except to the extent of its or his pecuniary interest therein.
Name	John Leone
Title	director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 14, 2024
Expiration Date	September 12, 2025
Arrangement Duration	364 days
Aggregate Available	300,000	300,000

Stockholders' Equity - Changes in AOCI by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 149,964	$ 113,459	$ 94,749
Foreign currency translation	(1,623)	(2,234)	(2,281)
Actuarial gains on defined benefit plan	133	(120)	287
Unrealized losses on cash flow hedges	(412)	(479)	(905)
Reclassifications to earnings	257	1,245	517
Tax provision	44	(162)	218
Balance, end of period	165,799	149,964	113,459
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(6,312)	(4,562)	(2,398)
Balance, end of period	(7,913)	(6,312)	(4,562)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(6,260)	(4,026)	(1,745)
Foreign currency translation	(1,623)	(2,234)	(2,281)
Balance, end of period	(7,883)	(6,260)	(4,026)
Derivative Valuation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(124)	(639)	(316)
Unrealized losses on cash flow hedges	(412)	(479)	(905)
Reclassifications to earnings	257	1,156	364
Tax provision	44	(162)	218
Balance, end of period	(235)	(124)	(639)
Defined Benefit Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	72	103	(337)
Actuarial gains on defined benefit plan	133	(120)	287
Reclassifications to earnings		89	153
Balance, end of period	$ 205	$ 72	$ 103

Goodwill and Other Intangible Assets (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
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 asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

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+ Details

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Jun. 30, 2024
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, 2024 and 2023 was $11.8 million. During the years ended June 30, 2024 and 2023, 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, 2024 and 2023 was $0.7 million and is included in other non-current assets in the consolidated balance sheets. During the years ended June 30, 2024 and 2023, the Company performed a qualitative assessment and determined that no impairment was necessary.

Revenue from Contracts with Customers

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

REVENUE FROM CONTRACTS WITH CUSTOMERS

The majority of the Company’s revenues are derived from contracts with customers who are located in the United States of America (the “United States” or “U.S.”). However, the Company delivers most of its services from regional customer experience delivery centers that are located in geographies outside of the United States.

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

The Company generated its revenue from clients based in the United States and other countries as below:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Revenue
United States	$	493,015	$	509,170	$	476,092
Other countries	15,554		13,948		16,759
Total	$	508,569	$	523,118	$	492,851

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:


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Revenue
Onshore (United States)	$	120,153	$	145,401	$	167,925
Offshore (Philippines, Pakistan)	244,825		221,913		186,902
Nearshore (Jamaica, Nicaragua, Honduras)	143,591		155,804		138,024
Total	$	508,569	$	523,118	$	492,851

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


($000s)	June 30, 2024		June 30, 2023		June 30, 2022
Pattern of Revenue recognition
Services transferred over time	$	477,663	$	489,942	$	455,206
Services transferred at a point in time	30,906		33,176		37,645
	$	508,569	$	523,118	$	492,851

The movement in the deferred revenue is as follows:


($000s)	June 30, 2024		June 30, 2023
Beginning balance	$	7,796	$	12,593
Revenue recognized	(8,509)		(11,329)
Revenue deferred	6,590		6,532
Ending balance	$	5,877	$	7,796

- 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
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+ Details

Derivatives

12 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

DERIVATIVES

Foreign exchange contracts

From time to time, the Company enters 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 are 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 Bank, National Association (“PNC”). The Company has not experienced any material 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, 2024 and 2023:

Settlement date

Hedged
currency

Foreign
currency rate

Notional
amount
($000s)

Fair Value
($000s)

Foreign currency option contracts - liabilities

July 8, 2024 through December 19, 2024

PHP

54.00 - 57.50

9,789

Fair value as of June 30, 2023

100

Fair value as of June 30, 2024

335

The fair value of the collars is 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 cost of services in the periods in which the hedged expenses occur.

Refer to Note 14. "Stockholders' Equity" for further details on the change in fair value of our cash flow hedges and the net gain or loss reclassified to earnings from effective hedges during the years ended June 30, 2024, 2023 and 2022.

Income Taxes - Income Before Income Taxes by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
United States	$ 18,492	$ 21,938	$ 1,996
Foreign	22,494	18,388	17,383
Income before income taxes	$ 40,986	$ 40,326	$ 19,379

- 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/2009/role/commonPracticeRef
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+ Details

Share Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jan. 14, 2022	May 20, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, period for recognition	2 years 11 months 1 day
Unrecognized compensation expense	$ 5,700
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 Share 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)	$ 5.71	$ 8.33	$ 5.59
Exercised, Aggregate intrinsic value	$ 7	$ 600	$ 200
Liability for outstanding stock options	$ 1,000	$ 1,200
Expected dividend yield	0.00%	0.00%	0.00%
Unrecognized compensation expense, options	$ 500
Unrecognized compensation expense, period for recognition	3 years 6 months 14 days
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value (in dollars per share)	$ 6.70	$ 10.37	$ 6.04
Exercised, Aggregate intrinsic value	$ 101	$ 1,000	$ 0
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
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 of awards granted (in dollars per share)	$ 17.13		$ 16.71
Total fair value of awards vested	$ 300	$ 600	$ 0

Investment in Joint Venture - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ 415	$ 372	$ 382
Lake Ball, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest in joint venture	47.50%

- Definition

+ References + Details

Investment in Joint Venture (Tables)

12 Months Ended

Jun. 30, 2024

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,
($000s)	2024		2023
Opening balance	$	372	$	382
Dividends received	(1,013)		(725)
Share of profit	1,056		715
Ending balance	$	415	$	372

Overview and Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2024

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 169 million interactions each year with consumers on behalf of clients through an omni-channel approach, using voice, web, chat and email.

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.

In addition our ibex Digital suite of solutions works with consumer-facing businesses to help them build, grow and scale technology-driven customer acquisition solutions, while helping drive digital transformation. We offer digital marketing, e-commerce technology, and platform solutions for our clients, helping them build new customer acquisition channels, increase acquired customers, and often do both at a reduced cost. We also have a small suite of what we call CX services which measures, monitors and manages our clients’ holistic customer experiences.

Operating segments

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation and principles of consolidation

Use of estimates

Foreign currency matters

Revenue recognition

with this performance obligation, we have determined that we are the principal in these transactions and therefore recognize revenue on a gross basis.

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, net


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

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.

Goodwill

No impairments were recorded during the years ended June 30, 2024, 2023 or 2022.

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.

Contingencies

Employee benefits

(a)Defined contribution plans

(b)Defined benefit plan

Share-based compensation plans

Warrant to purchase common shares

Income taxes

Share repurchase programs

Equity method investment

Cloud Computing Software Implementation Costs

The Company capitalized $3.5 million during the year ended June 30, 2024. There were no costs capitalized during the year ended June 30, 2023.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 72	$ 120
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)	17,017,476	18,280,419
Treasury stock at cost (in shares)	1,567,552	245,447

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Jun. 30, 2024	Aug. 30, 2024	Dec. 29, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--06-30
Document Period End Date	Jun. 30, 2024
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	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 193,757,239
Entity Common Stock, Shares Outstanding		16,803,198
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.
Entity Central Index Key	0001720420
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Current assets
Cash and cash equivalents	$ 62,720	$ 57,429
Accounts receivable, net of allowance of $72 and $120	98,366	86,364
Prepaid expenses	7,712	6,616
Due from related parties	192	43
Tax advances and receivables	9,080	5,965
Other current assets	1,888	2,190
Total current assets	179,958	158,607
Non-current assets
Property and equipment, net	29,862	41,151
Operating lease assets	59,145	70,919
Goodwill	11,832	11,832
Deferred tax asset, net	4,285	4,585
Other non-current assets	8,822	6,230
Total non-current assets	113,946	134,717
Total assets	293,904	293,324
Current liabilities
Accounts payable and accrued liabilities	16,719	18,705
Accrued payroll and employee-related liabilities	30,674	29,360
Current deferred revenue	4,749	6,413
Current operating lease liabilities	12,051	13,036
Current maturities of long-term debt	660	413
Due to related parties	60	2,314
Income taxes payable	6,083	3,020
Total current liabilities	70,996	73,261
Non-current liabilities
Non-current deferred revenue	1,128	1,383
Non-current operating lease liabilities	53,441	64,854
Long-term debt	867	600
Other non-current liabilities	1,673	3,262
Total non-current liabilities	57,109	70,099
Total liabilities	128,105	143,360
Commitments (Note 9)
Stockholders' equity
Common stock: par value $0.0001, 108,057,967 shares authorized, 17,017,476 and 18,280,419 shares outstanding as of June 30, 2024 and 2023, respectively	2	2
Additional paid-in capital	210,200	204,734
Treasury stock at cost: 1,567,552 and 245,447 shares as of June 30, 2024 and 2023, respectively	(25,367)	(3,682)
Accumulated other comprehensive loss	(7,913)	(6,312)
Accumulated deficit	(11,123)	(44,778)
Total stockholders' equity	165,799	149,964
Total liabilities and stockholders' equity	$ 293,904	$ 293,324

Accounts Receivable and Significant Client - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Concentration Risk [Line Items]
Write-off of accounts receivable	$ 87	$ 1,410	$ 0
Accounts receivable, net of allowance of $72 and $120	$ 98,366	$ 86,364
Client 1 \| Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenues	12.00%	12.00%
Client 1 \| Accounts receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Accounts receivable, net of allowance of $72 and $120	$ 13,600	$ 6,000

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income	$ 33,655	$ 31,582	$ 21,456

Accounts Receivable and Significant Client - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Receivables [Abstract]
Accounts receivable	$ 98,438	$ 86,484
Less: Allowance for credit losses	(72)	(120)	$ (1,290)
Accounts receivable, net	$ 98,366	$ 86,364

Related Party Transactions	12 Months Ended
Related Party Transactions	Jun. 30, 2024
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 with us, 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 each of the fiscal years ended June 30, 2024, 2023, and 2022, the Company recognized revenue of $0.1 million with these related parties. As of June 30, 2024 and 2023, the Company had accounts receivable of $0.2 million and $0.0 million, respectively, other non-current assets of $1.1 million and $1.1 million, respectively, and accounts payable of $0.1 million and $2.3 million, respectively, with these related parties.

Debt - Narrative (Details) - PNC Credit Facility - Revolving Credit Facility - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	May 31, 2024	Nov. 30, 2013
Schedule of Debt [Line Items]
Maximum value of contract assignments			$ 175.0
PNC Credit Facility
Schedule of Debt [Line Items]
Term of long term debt				3 years
Maximum borrowing capacity	$ 80.0			$ 35.0
Accordion feature, maximum borrowing capacity	$ 95.0
Commitment fee percentage	0.25%
Borrowing available		$ 79.0
PNC Credit Facility \| Secured Overnight Financing Rate (SOFR)
Schedule of Debt [Line Items]
Basis spread on variable rate	1.75%
PNC Credit Facility \| PNC Commercial Lending Rate
Schedule of Debt [Line Items]
Basis spread on variable rate	(0.50%)