Ebix, Inc. (NASDAQ: EBIX) shares tumbled at Wednesday’s open, as the company, a leading international supplier of on-demand software and e-commerce services to the insurance, financial services, travel, health-care, and e-learning industries today announced results for the quarter ended December 31, 2022 and the full-year results for 2022.
Revenues proved $255.2 million and $1.05 billion for Q4 2022 and fiscal year 2022
2022 GAAP operating income of $120.3 million and Non-GAAP operating income of $137.3 million
GAAP Diluted EPS of $2.10 for fiscal year 2022 and Non-GAAP diluted EPS of $2.58 for fiscal year 2022.
Operating cash of $32.5 million in Q4 2022 and $77.6 million in fiscal 2022
CEO Robin Raina said, “On a constant currency basis, our Q4 2022 revenues grew by 5% year-over-year (“YoY”) to $279 million, whereas our 2022 fiscal revenues grew 11% to $1.108 Billion as compared to a year ago. The main contributors to this double digit growth for the full year were the Company's EbixCash travel and foreign exchange/outward remittance revenues that grew a combined 118% YoY, EbixCash BPO/IT Services YoY revenue growth of 47%, e-learning revenue YoY growth of 160%, Financial technologies revenue YOY revenue growth of 5%, Latin American revenue YoY growth of 42%, and US Annuitynet revenue growth of 20% YoY, Our EbixCash exchange revenues, excluding our prepaid gift card business, generated 58% YoY growth in 2022.”
EBIX shares cratered $3.38, or 20.7%, to $12.89.
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