Ebix, Inc. - EBIX STOCK NEWS

Ebix reported strong Q3 2020 results despite COVID-19 impacts, achieving revenues of $154.3 million, a 39% increase from Q2 2020 and a 5% increase year-over-year. GAAP operating income rose to $31.9 million and diluted EPS reached $0.80. The company generated $71.8 million in operating cash flow year-to-date. The diversity in revenue sources and robust demand for payment solutions helped drive performance, even as sectors like travel and forex struggled. However, there is uncertainty in guidance due to ongoing market disruptions.

Ebix, a global supplier of On-Demand software and E-commerce services, announced it will release its 2020 third quarter results on November 9, 2020. This will be followed by an investor conference call at 11:00 AM ET, open to the public. The call will provide insights into the company's performance for the quarter. With over 50 offices worldwide, Ebix focuses on the insurance, financial, healthcare, and e-learning sectors. The company's EbixCash Financial exchange portfolio has significant operations, including $4.8 billion in annual Forex transactions in India.

EbixCash, a subsidiary of Ebix, has secured a crucial contract to manage travel needs for five out of eight franchises in the Indian Premier League (IPL) 2020. This engagement includes over 19,000 hotel room bookings, chartered flights, ground transportation, foreign exchange services, and event insurance. Under Naveen Kundu’s leadership, EbixCash has demonstrated its capability as an end-to-end service provider in the travel sector. The IPL, known for its significant viewership, presents a vital opportunity for EbixCash to enhance its market visibility and credibility.

Ebix, Inc. (NASDAQ: EBIX) has partnered with F&G to launch WinFlex Analytics, a data analytics platform designed for the insurance sector. This platform aims to provide deep insights into product performance by analyzing producer behavior, thus offering transparency in case design and pre-sales activities. WinFlex Analytics is expected to enhance revenue and market share growth for insurance carriers by identifying sales activity trends. The platform is positioned as a revolutionary tool for the life insurance industry, enabling carriers to navigate evolving marketplace dynamics.

Ebix, Inc. (NASDAQ: EBIX) has declared a quarterly dividend of 7.5 cents per common share, payable on September 16, 2020 to shareholders of record as of September 2, 2020. This announcement underscores the company's commitment to rewarding its shareholders while maintaining a robust operational presence in sectors including insurance, financial services, healthcare, and e-learning.

BSE Ebix Insurance Broking has partnered with Universal Sompo General Insurance to offer digitized General Insurance products. This initiative begins with the Corona Kavach policy, aimed at covering COVID-19 hospitalization expenses, leveraging BSE Ebix's extensive network of over 7,200 certified Point of Sales Persons (PoSPs). The policy provides various coverage options, including costs for PPE, ICU, and home care treatment. The collaboration aims to enhance insurance accessibility for the public amidst the COVID-19 crisis, promoting better health insurance coverage.

Ebix, Inc. (NASDAQ: EBIX) reported Q2 2020 earnings with a GAAP diluted EPS of $0.76 and non-GAAP diluted EPS of $0.88. Revenues fell by 23% year-over-year to $111.3 million, primarily due to COVID-19 impacts. However, excluding heavily impacted sectors, revenues grew by 16% compared to Q2 2019. Operating cash flow remained robust at $28.8 million. The company noted a 19% decrease in GAAP net income to $23.5 million. Despite the pandemic's challenges, the company expressed optimism about a post-recovery rebound in key sectors like travel and remittance.

Ebix reported its Q2 2020 results with a 23% revenue decline to $111.3 million, affected by COVID-19, compared to $144.3 million in Q2 2019. The company achieved a GAAP diluted EPS of $0.76, down from $0.94 in the same period last year. Despite challenges, operating cash flow remained strong at $28.8 million. Excluding severely impacted sectors, Q2 revenues grew 16% year-over-year. The company is cautious about fiscal 2020 guidance due to ongoing market disruptions.

Ebix, Inc. (NASDAQ: EBIX) announced it will report second quarter results for 2020 on August 7th at 11:00 a.m. ET, followed by a public conference call. The call will provide insights into the company's performance across its various sectors including insurance, financial services, healthcare, and e-learning. Ebix operates over 50 offices worldwide and leads with innovative products like its EbixCash Financial exchange, which shows strong transaction volumes. The company focuses on leveraging its combined physical and digital presence in Southeast Asia.