HIGHBuilt-inGeographic
97%
customers based in the United States
“10-K Item 1A: 'We derived 97% of our revenue from customers based in the United States during the fiscal year ended June 30, 2026.'”
IBEX · Concentration risk · 10-K extracted
IBEX (IBEX) concentration risks
Updated
The most significant concentration IBEX discloses is customers based in the United States at 97%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Source: IBEX’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM1
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inGeographic
97%
offshore and nearshore delivery capacity
“10-K Item 1: '97% of our total on-site capacity resides in our offshore and nearshore geographies'”
MEDIUMBuilt-inCustomer
25.7%
Retail & E-commerce vertical clients
“10-K Item 1A: '25.7% of our revenue was derived from clients in the Retail & E-commerce vertical'”
LOWOutside partyCustomer
24%
top three clients
“10-K Item 1A: 'Our top three clients accounted for 24% of our revenue, and our top client accounted for approximately 9% of our revenue'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-18IBEX's profile is dominated by two structural, high-share exposures that are really two sides of one business model. The company derived 97% of its revenue from customers based in the United States in the latest fiscal year, while 97% of its total on-site capacity resides in offshore and nearshore geographies. That is a deliberate labor-arbitrage design: U.S. demand served from delivery centers abroad. The exposure is therefore to the U.S. client economy, and to the operating, regulatory and political conditions of the delivery locations, rather than to a single counterparty. Client concentration is more contained. The top three clients accounted for 24% of revenue and the top client approximately 9%, a low-share dependency. Vertical exposure sits in between: 25.7% of revenue came from clients in the Retail & E-commerce vertical, a medium-share structural exposure tied to consumer-sector cycles. Netting these out, the geographic mismatch between customers and delivery capacity is the defining risk and sets the baseline, while client and vertical concentration are secondary factors that could shift results in a given year.
For the engine’s reasoning on IBEX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Information Technology Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| IBEX● | IBEX Limited | 2 | 1 | 1 | 4 |
| CACI | CACI International, Inc. | 2 | 0 | 2 | 4 |
| APLD | Applied Digital Corporation | 1 | 2 | 0 | 3 |
| BBAI | BigBear.ai, Inc. | 1 | 1 | 0 | 2 |
| ACN | Accenture plc | 0 | 0 | 0 | 0 |
| BR | Broadridge Financial Solutions, | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.