Welcome to our dedicated page for Ebix news (Ticker: EBIX), a resource for investors and traders seeking the latest updates and insights on Ebix stock.
Ebix, Inc. (NASDAQ: EBIX) is a leading global supplier of on-demand software and e-commerce services primarily tailored for the insurance, financial services, travel, healthcare, and e-learning industries. With headquarters in Atlanta, Georgia, and a network of offices across the United States and seven other countries, Ebix powers businesses in over 50 countries across six continents.
The company specializes in developing comprehensive application software products, ranging from carrier systems and agency systems to custom software solutions for various stakeholders in the insurance and financial sectors. Ebix serves a vast customer base that includes more than 100 insurance companies, TPA's, banks, financial advisors, and over 300,000 brokers/agents, along with more than 1,000 corporate clients.
Recently, Ebix announced a significant
EbixCash Limited has launched a Self Booking Corporate tool through its Foreign Exchange Division, EbixCash World Money, aimed at enhancing the efficiency of corporate travelers. This digital tool offers features like customized alerts, order updates, and invoice management, allowing businesses to manage foreign exchange services more effectively. Following successful pilot implementations, the tool will soon be rolled out to all corporate clients. EbixCash World Money maintains a strong presence in India, serving over 1200 corporate clients and operating in 16 international airports.
Ebix, Inc. (NASDAQ: EBIX) has announced that the Delhi Court has prohibited the publishing of the Hindenburg Report in India, following a lawsuit filed by EbixCash for defamation. The Court's ruling, dated July 5, 2022, mandates Google LLC and Twitter, Inc. to remove related URLs. Ebix provided audit reports from India's financial regulatory body in its defense. The case emphasizes Ebix's efforts to protect its reputation against allegations made in the report.
Ebix, Inc. (NASDAQ: EBIX) provided clarifications on its EbixCash business metrics in a press release on June 21, 2022. The company highlighted that EbixCash gift cards are exclusively sold to corporate clients, noting distinct revenue treatment between gross sales by EbixCash and net revenue recorded by corporate clients. With over 3.74 million app downloads, EbixCash focuses on digital service delivery, supported by 650,000 retail outlets across Southeast Asia. The company also announced the closure of some Forex offices and its collaborations with credit card companies to enhance market reach.
Ebix, Inc. (NASDAQ: EBIX) issued a response to misleading allegations raised by a short-seller article on June 16, 2022. The company emphasized that its financial reporting aligns with GAAP and SEC standards, confirming the accuracy of transactions from its EbixCash payment solutions in India. Independent auditors have audited the India business, issuing unqualified opinions for the years ending December 2020 and December 2021. The company clarified that its gift card business represents minimal operating income, not materially affecting overall profits.
Ebix, Inc. (NASDAQ: EBIX) has declared a quarterly dividend of 7.5 cents per common share, payable on June 16, 2022, to shareholders on record by June 3, 2022. The announcement reflects the company's ongoing commitment to returning value to its shareholders. Ebix operates globally, providing software and e-commerce services across various sectors, including insurance and healthcare, with a strong presence in the ASEAN markets.
Ebix, Inc. (NASDAQ: EBIX) reported Q1 2022 revenues of $286.3 million, down 1% year-over-year. GAAP operating income was $30.1 million, and Non-GAAP operating income reached $33.8 million. GAAP diluted EPS grew 24% sequentially to $0.62. Excluding prepaid gift card revenues, overall revenues increased 30.7%, driven by notable growth in travel (85%) and e-learning (138%). Despite challenges from COVID-19, EbixCash IPO efforts continue, with strong liquidity of $102.2 million as of March 31. The company paid a quarterly dividend of $0.075 per share.
BSE Ebix Insurance Broking has appointed Sachin Seth as the new CEO and Managing Director. Previously a partner at Ernst & Young, Seth brings over two decades of experience in digital financial services and fintech. His leadership aims to enhance BSE Ebix’s position in the Indian insurance market, focusing on a unique blend of physical and digital distribution strategies. With over 11,000 registered Point of Sale Persons (PoSPs) and collaborations with various insurance companies, BSE Ebix is set to revolutionize insurance distribution in India.
Ebix, Inc. (NASDAQ: EBIX) will announce its 2022 first quarter results on May 10, 2022, at 11:30 AM ET. The company invites investors to join a public conference call where performance details will be discussed. Ebix provides on-demand software and e-commerce services across various industries, including insurance and financial services, with a focus on SaaS solutions. With a substantial presence in the ASEAN region, its EbixCash platform leads in money remittance and Forex operations in India, handling billions in transactions pre-COVID-19.
EbixCash Limited has announced that its Chairman, Robin Raina, was honored by The Economic Times as one of the "Most Promising Business Leaders of Asia 2021-22." This recognition acknowledges business visionaries who have demonstrated resilience and significant leadership during challenging times, particularly through the pandemic. Raina emphasized the potential for innovation in India’s financial sector, aiming to develop comprehensive financial exchanges. EbixCash, a subsidiary of Ebix, operates over 650,000 distribution points across Asia, offering diverse financial services.
Ebix Europe has launched ExposureHub, a cutting-edge platform for re/insurance exposure management that enhances data control for critical risk management decisions. Released on April 26, 2022, this module-based solution allows users to process large volumes of data quickly, providing interactive global maps and customizable tools tailored to individual needs. The platform supports both experienced exposure managers and novices, enabling seamless data integration and insight identification, aiming to improve underwriting profitability.
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