Ebix Reports Record Results with Q1 2019 GAAP Operating Cash Flow of $38.5 Million on 51% Growth and GAAP Revenues of $142.9M on 32% Growth
Non-GAAP Q1 2019 EPS Rose 25% to $1.04
JOHNS CREEK, GA - May 9, 2019 - Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-governance and healthcare industries, today reported results for its first quarter ended March 31, 2019. Ebix will host a conference call to review its results today at 11:00 a.m. EDT (details below).
Ebix delivered the following results for the first quarter of 2019:
Revenue: Q1 2019 revenue rose 32% to $142.9 million compared to $108.2 million in Q1 2018 and increased 5% over Q4 2018 revenue of $136.3 million. The year over year revenue improvement reflected growth in the Company’s EbixCash channel.
On a constant currency basis, Ebix Q1 2019 revenue increased 37% to $148.0 million compared to $108.2 million in Q1 2018. Exchanges cumulatively including the insurance and EbixCash financial exchanges accounted for 88% of Q1 2019 revenues.
(dollar amounts in thousands)
Total Revenue on Constant Currency Basis
Operating Income and Margins: Q1 2019 GAAP operating margins increased to 38% as compared to 31% in Q1 2018 and GAAP Operating income for Q1 2019 rose 60% to $54.1 million compared to $33.9 million in Q1 2018 due to a $15.4 million reduction of acquisition accrual for ItzCash, offset by $3.4 million of one-time expenses primarily associated with new acquisitions.
Non-GAAP operating margins for Q1 2019 were 30% while non-GAAP operating income was $42.8 million in the quarter.
Operating Cash: Cash generated from operations rose $13.0 million or 51% in Q1 2019 to $38.5 million compared to $25.5 million in Q1 2018. Q1 2019 cash flows were strong in spite of cumulative cash payments
The following information was filed by Ebix Inc (EBIX) on Thursday, May 9, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: EBIX CIK: 814549 Form Type:10-Q Quarterly Report Accession Number: 0000814549-19-000039 Submitted to the SEC: Fri May 10 2019 11:59:52 AM EST Accepted by the SEC: Fri May 10 2019 Period: Sunday, March 31, 2019 Industry: Computer Integrated Systems Design