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Ebix Reports Q2 2017 Results

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Ebix (NASDAQ:EBIX) has reported its Q2 results for the quarter ended June 30, 2017. As quoted in the press release: Revenues: Q2 2017 revenue rose 20.4% to $87.4 million compared to $72.6 million in Q2 2016 and increased 10.5% over Q1 2017 revenue of $79.1 million. The revenue improvement reflected growth in the Company’s Exchange and …

Ebix (NASDAQ:EBIX) has reported its Q2 results for the quarter ended June 30, 2017.
As quoted in the press release:

Revenues: Q2 2017 revenue rose 20.4% to $87.4 million compared to $72.6 million in Q2 2016 and increased 10.5% over Q1 2017 revenue of $79.1 million. The revenue improvement reflected growth in the Company’s Exchange and Risk Compliance channels, with the revenues from the acquisition of ItzCash reflected in the Exchange channel.
On a constant currency basis, Ebix Q2 2017 revenue increased 20% to $87.1 million compared to $72.6 million in Q2 2016. The Exchange channel continued to be Ebix’s largest, accounting for 69% of Q2 2017 revenues. Also, on a constant currency basis, year to date revenue increased 15% to $165.5 million as compared to $143.6 million during the same period in 2016.

(dollar amounts in thousands)
Channel Q2 2017 Q2 2016 Change YTD
2017
YTD
2016
Change
Exchanges $ 60,373 $ 49,322 +22% $ 112,987 $ 99,408 +14%
Risk Compliance Solutions (RCS) 22,663 18,662 +21% 44,515 35,413 +26%
Broker Solutions 3,595 3,885 -7% 7,383 7,097 4%
Carrier Systems 756 705 +7% 1,605 1,722 -7%
Total Revenue $ 87,387 $ 72,574 +20% $ 166,490 $ 143,640 +16%
Total Revenue on Constant Currency Basis $ 87.1M $ 72.6M +20% $ 165.5M $ 143.6M +15%

Earnings per Share: Q2 2017 diluted earnings per share increased 6% to $0.74 compared to $0.70 in Q2 2016 due to higher net income and the benefit of ongoing share repurchase activity. Ebix’s weighted average diluted shares outstanding decreased to 31.6 million in Q2 2017 compared to 33.0 million in Q2 2016 and 32.0 million in Q1 2017.

Click here to read the full press release.

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