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Ebix Inc (EBIX) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

EBIX Quarterly Reports

Ebix Inc

CIK: 814549 Ticker: EBIX

Exhibit 99.1

 

LOGO

Ebix Announces Q1 2022 Revenues of $286.3 Million with 7% Sequential

Growth and Diluted EPS of $0.62 with 24% Sequential Growth

JOHNS CREEK, GA – May 10, 2021 – Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of on-demand software and e-commerce services to the insurance, financial services, travel, healthcare, and e-learning industries today announced the following results for the quarter ended March 31, 2022:

 

   

Revenues of $286.3 million

 

   

GAAP operating income of $30.1 million and Non-GAAP operating income of $33.8 million

 

   

GAAP Diluted EPS of $0.62 and Non-GAAP diluted EPS of $0.76.

Ebix will host a conference call to review its results today at 11:30 a.m. EDT (details below).

Robin Raina, President & CEO, Ebix, Inc. said. “I am pleased with these results on many fronts. On a constant currency basis, our GAAP revenues grew year-over-year by 1% inspite of a 7% decline in prepaid gift card revenues in Q1 2022 as compared to Q1 2021. Our Q1 2022 revenues grew 7% sequentially by $19.5 million as compared to Q4 2021. Our worldwide revenues, excluding prepaid gift card revenues, increased 11.5% year-over-year in the first quarter of 2022. Our most negatively impacted businesses from COVID-19 within EbixCash Limited experienced solid year-over-year growth in the first quarter of 2022. In total, our travel, foreign exchange, remittance, e-learning and financial technologies businesses combined grew revenues by 28% year-over-year during the first quarter of 2022. Year-over-year growth in travel and foreign exchange revenues was 85% and 109%, respectively. Our e-learning business also benefitted from the reopening of schools in India and contributed a 138% growth rate year-over-year during the first quarter of 2022. Our Risk Compliance Solutions (“RCS”) revenues grew 8% year-over-year due mainly to the 68% growth in our BPO business in India.”

Robin said, “Our year-over-year revenues grew in 7 of the 11 geographies that we operate in. On a year-over-year basis, US revenues grew 2%, Canada revenues grew 2%, Latin America revenues grew 27%, Europe revenues grew 2.5%, Indonesia revenues grew 85%, Philippines revenues grew 55%, while UAE revenues grew by a large percentage number also.”

“Q1 2022 diluted EPS grew 24% sequentially from $0.50 to $0.62 and Non-GAAP diluted EPS grew 15% sequentially from $0.66 to $0.76, in spite of the elevated adverse impact of the Omicron virus on our businesses especially in the first two months of Q1 2022.” Robin added “Our prospective EbixCash IPO process is ongoing. We are working with the regulatory body in India as a part of the review process of our DRHP filing. Once that process is concluded, the EbixCash independent Board will determine the timing of next steps based on market conditions.”

Ebix delivered the following results for the first quarter of 2022:

Revenue: Q1 2022 revenue decreased 1% to $286.3 million compared to $290.1 million in Q1 2021. On a constant currency basis Q1 2022 increased 1% and would have been $7.5 million higher during the first quarter of 2022.

EbixCash total revenues decreased 2.7% year-over-year in Q1 2022. Excluding the prepaid gift card revenues, EbixCash revenues increased year-over-year by 30.7%. Insurance revenues worldwide increased 2.3% year-over-year in Q1 2022, and RCS revenues increased 8.3% year-over-year during Q1 2022.

 

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The following information was filed by Ebix Inc (EBIX) on Tuesday, May 10, 2022 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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Inside Ebix Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Stockholders' Equity
Condensed Consolidated Statement Of Stockholders' Equity (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Business Combinations
Business Combinations - Additional Information (Details)
Capitalized Software Development Costs
Capitalized Software Development Costs (Details)
Commitments And Contingencies
Concentrations Of Credit Risk
Debt
Debt (Details)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (Policies)
Description Of Business And Summary Of Significant Accounting Policies (Tables)
Description Of Business And Summary Of Significant Accounting Policies - Accounts Receivables And Allowances (Details)
Description Of Business And Summary Of Significant Accounting Policies - Advertising Costs (Details)
Description Of Business And Summary Of Significant Accounting Policies - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Description Of Business And Summary Of Significant Accounting Policies - Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Details)
Description Of Business And Summary Of Significant Accounting Policies - Cash, Cash Equivalents, And Restricted Cash Shown In The Statement Of Cash Flows (Details)
Description Of Business And Summary Of Significant Accounting Policies - Contract Liabilities (Details)
Description Of Business And Summary Of Significant Accounting Policies - Costs To Obtain And Fulfill A Contract (Details)
Description Of Business And Summary Of Significant Accounting Policies - Description Of Business Segment Reporting (Details)
Description Of Business And Summary Of Significant Accounting Policies - Fiduciary Funds (Details)
Description Of Business And Summary Of Significant Accounting Policies - Foreign Currency Translation (Details)
Description Of Business And Summary Of Significant Accounting Policies - Goodwill And Finite-Lived Intangible Assets (Details)
Description Of Business And Summary Of Significant Accounting Policies - Quantitative Information About Level 3 Fair Value Measurements (Details)
Description Of Business And Summary Of Significant Accounting Policies - Restricted Cash (Details)
Description Of Business And Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Reconciliation Between Basic And Diluted Earnings Per Share (Details)
Geographic Information
Geographic Information (Tables)
Geographic Information - Revenue By Geographic Locations (Details)
Goodwill, Finite-Lived, And Indefinite-Lived Intangibles
Goodwill, Finite-Lived, And Indefinite-Lived Intangibles (Tables)
Goodwill, Finite-Lived, And Indefinite-Lived Intangibles - Finite-Lived And Indefinite-Lived Intangible Assets (Details)
Goodwill, Finite-Lived, And Indefinite-Lived Intangibles - Goodwill (Details)
Income Taxes
Income Taxes (Details)
Investment In Joint Ventures
Investment In Joint Ventures (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Lease Costs (Details)
Leases - Non Lease Arrangements Future Commitments (Details)
Leases - Operating And Finance Lease Liability (Details)
Leases - Other Operating And Finance Lease Information (Details)
Other Current Assets
Other Current Assets (Details)
Other Current Assets (Tables)
Other Current Liabilities
Other Current Liabilities (Details)
Other Current Liabilities (Tables)
Ticker: EBIX
CIK: 814549
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-013511
Submitted to the SEC: Tue May 10 2022 1:10:49 PM EST
Accepted by the SEC: Tue May 10 2022
Period: Thursday, March 31, 2022
Industry: Computer Integrated Systems Design

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