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Ebix Inc (EBIX) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

SEC Filings

EBIX Quarterly Reports

Ebix Inc

CIK: 814549 Ticker: EBIX

Exhibit 99.1

 

LOGO

With Worldwide Revenues (Excluding Pre-Paid Cards) in Q2 2022 Increasing 32% Year-over-Year, Ebix Announces Q2 2022 Results

 

 

Q2 Revenues of $250.8 million, with 2% Year-over-Year (YOY) Growth

 

 

Q2 Diluted EPS of $0.63, with 23% YOY Growth

 

 

Q2 GAAP Operating Income of $30.1 million, with 10% YOY Growth

 

 

Q2 Operating Cash flow of $21.4 million

JOHNS CREEK, GA – August 9, 2022 – 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 June 30, 2022:

 

 

Revenues of $250.8 million

 

 

GAAP operating income of $30.1 million and Non-GAAP operating income of $34.0 million

 

 

GAAP Diluted EPS of $0.63 and Non-GAAP diluted EPS of $0.75.

Ebix will host a conference call to review its results today at 11:00 a.m. EDT (details below).

Robin Raina, President & CEO, Ebix Inc. said, “On a constant currency basis, our Q2 2022 revenues grew by 6% year-over-year (YOY) to $260.1 million. Our worldwide revenues, excluding pre-paid cards, grew 32% year-over-year in Q2 2022. The main contributors to this stellar growth were the Company’s EbixCash travel and foreign exchange revenues that grew a combined 293% year-over-year, EbixCash BPO revenues that grew year-over-year by 70%, US Annuitynet and LifeSpeed combined revenues increased 21% year-over-year, e-learning revenues increased approximately 600% year-over-year and the Latin American revenues increased 62% year-over-year. These increases were offset, in part, by a year-over-year decline of $22.1 million or 14%, in the EbixCash prepaid card revenues.”    

Robin added, “Excluding pre-paid cards, our EbixCash revenues increased by 56% year-over-year. The Company’s RCS channel revenues grew 21% year-over-year, while the insurance channel revenues year-over-year increased by 1%. The Company generated GAAP operating income of $30.1 million and EBITDA plus stock based compensation of $36 million in Q2 2022. I am pleased with these results as they are in spite of the substantial negative effects of currency headwinds on both our revenues and operating income.”

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

Revenue: Q2 2022 revenue increased 2% to $250.8 million compared to $246.3 million in Q2 2021. On a constant currency basis, Q2 2022 revenues increased 6% year-over-year in Q2 2022 and would have been $9.4 million higher in the quarter but for foreign currency rate changes.

Out of 10 major geographies worldwide, revenues grew year over year in eight regions, while declining in two regions. On a constant currency basis nine of ten geographies experienced year-over-year revenue growth in Q2 2022, with Australia having a 1% decline year-over-year. Insurance Exchanges revenues worldwide increased year-over-year by 1%, while Risk Compliance Solutions revenue increased 21% year-over-year in the second quarter of 2022.

Exchanges, including EbixCash and our worldwide insurance exchanges, continued to be Ebix’s largest channel, accounting for 89% of Q2 2022 revenues.


The following information was filed by Ebix Inc (EBIX) on Tuesday, August 9, 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: 0001628280-22-021803
Submitted to the SEC: Tue Aug 09 2022 12:45:46 PM EST
Accepted by the SEC: Tue Aug 09 2022
Period: Thursday, June 30, 2022
Industry: Computer Integrated Systems Design

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