Ebix Reports 2017 Q4 Financial Results

Ebix (NASDAQ:EBIX) has announced its fiscal 2017 financial results and full year results for the period ended December 31, 2017.

As quoted in the press release:

Ebix delivered the following results for the fourth quarter and full year of 2017:

Revenue: Total Q4 2017 revenue rose 31% to $104.7 million, compared to $80.0 million in Q4 2016 and increased 13% over Q3 2017 revenue of $92.8 million.

Full year 2017 revenue rose 22% to $364.0 million, compared to $298.3 million in 2016. Exchanges including the EbixCash operations in India, continued to be Ebix’s largest channel, accounting for 79% of the Company’s Q4 2017 and 71% of full year 2017 Revenue.

(dollar amounts in thousands)
Channel	Q4 2017		Q4 2016		Change		2017	2016	Change
Exchanges	$	82,353	$	55,003	+50	%	$	259,470	$	206,427	+26	%
Broker Systems	3,576	3,451	+4	%	14,674	14,105	4	%
Risk Compliance Solutions (RCS)	18,052	20,707	-13	%	86,832	74,196	17	%
Carrier Systems	700	885	-21	%	2,995	3,566	-16	%
Total Revenue	$	104,681	$	80,046	+31	%	$	363,971	$	298,294	+22	%
Total Revenue on Constant Currency Basis	$	102.9M	$	80.0M	+29	%	$	360.0M	$	298.3M	+21	%

Earnings per Share: Q4 2017 diluted EPS increased 11% to $0.84 from $0.76 in Q4 2016. Full year 2017 diluted EPS increased 11% to $3.17 from $2.86 in 2016. The improvements reflect higher net income and the benefit of previous share repurchase activity.

Operating Cash: Cash generated from operations decreased 13% to $26.7 million in Q4 2017, compared to $30.7 million in Q4 2016. Cash generated from operations decreased 8% to $76.8 million in 2017, compared to $83.7 million in 2016.

Operating Income and Margins: Q4 2017 operating margins were 32%, a decrease over Q4 2016 margins of 35%. Operating income for Q4 2017 rose 20% to $33.1 million compared to $27.7 million in Q4 2016.

Full year 2017 operating margins were at 31%. Operating income for 2017 rose 13% to $113.2 million as compared to $100.3 million in 2016.

Net Income: Q4 2017 net income rose 8% to $26.6 million, compared to $24.6 million in Q4 2016. Net income increased 7% to $100.6 million in 2017, compared to $93.8 million in 2016.

Share Outstanding and Repurchases: Ebix made no repurchases of its common stock in Q4 2017, and repurchased 687,048 shares of its common stock for cash consideration of $39.4 million in the full year 2017. Reflecting its repurchase activity, Ebix’s weighted average diluted shares outstanding decreased to 31.7 million in Q4 2017 compared to 32.5 million in Q4 2016 and decreased to 31.7 million in 2017 compared to 32.9 million in 2016.

Click here to read the full press release.