Ebix Reports Record Revenues in Second Quarter

Ebix (NASDAQ:EBIX), fintech company principally engaged in the insurance, healthcare and financial services industries announced a record US$144.3 million in revenues. Year-over-year revenues rose by 16 percent, driven primarily by its EbixCash financial exchanges.

As quoted in the press release:

Revenues: Q2 2019 revenue rose 16% to $144.3 million compared to $124.6 million in Q2 2018 and increased 1% over Q1 2019 revenue of $142.9 million. After excluding the revenues from the discontinued e-governance business, Q2 2019 revenues grew 21% in Q2 2019 as compared to Q2 2018.

On a constant currency basis, Ebix Q2 2019 revenue increased 18% to $147.4 million compared to $124.6 million in Q2 2018. Exchanges cumulatively including the insurance and EbixCash financial exchanges accounted for 87% of Q2 2019 revenues.  Also, on a constant currency basis, year to date revenue increased 27% to $295.4 million as compared to $232.9 million during the same period in 2018.

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