Ebix, Inc. (NASDAQ: EBIX) shares triumphed Wednesday on reporting second-quarter figures.
The company, based in Johns Creek, Ga., and is a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-learning and healthcare industries.
Q2 2018 revenue rose 42.6% to $124.6 million compared to $87.4 million in Q2 2017 and increased 15.1% over Q1 2018 revenue of $108.2 million. The year over year revenue improvement reflected growth in the Company’s Exchange channel, with the revenues from the EbixCash Financial Exchange reflected in the Exchange channel.
On a constant-currency basis, Ebix Q2 2018 revenue increased 44% to $125.4 million compared to $87.4 million in Q2 2017. The Exchange channel continued to be Ebix’s largest, accounting for 82% of Q2 2018 revenues.
Also, on a constant currency basis, year to date revenue increased 40% to $232.6 million as compared to $166.5 million during the same period in 2017.
Q2 2018 net income increased by 25% to $29.2 million, compared to $23.4 million in Q2 2017. Q2 2018 diluted earnings per share increased 25% to $0.92 compared to $0.74 in Q2 2017 due to a 25% increase in net income.
CEO Robin Raina said, "Over the next few quarters, we expect substantial revenue growth from a number of areas – principal amongst them are the revenues expected to be generated from the implementation of many of our recent foreign exchange, travel, underwriting, bus exchange, and e-learning contract wins, besides many of our new organic and inorganic initiatives."
Shares in Ebix opened Wednesday up $3.75, or 4.7%, to $83.55
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