Ebix, Inc. - EBIX STOCK NEWS

EbixCash, a subsidiary of Ebix, has secured a contract to deploy an Intelligent Transport Management System for state buses operated by Calcutta State Transport Corporation and West Bengal Transport Corporation. The project covers a minimum of 1,500 buses over an initial 7-year term, with deployment expected within three months. This end-to-end system aims to automate fare ticketing and collection, enhancing operational efficiencies and revenue management. EbixCash, a leader in the bus E-commerce sector, handles $1.7 billion in annual transactions, serving over 30% of India's bus ticketing network.

EbixCash has appointed Ms. Uma Shankar as an independent director to its Board. A former Executive Director at the Reserve Bank of India, Uma brings extensive experience in financial regulation, cyber security, and data analytics. She has served on multiple committees in international financial bodies and has board-level experience across various esteemed institutions. Her addition is expected to enhance EbixCash’s strategic initiatives as it aims for increased digitization in the financial sector globally.

Ebix, Inc. (NASDAQ: EBIX) has declared a quarterly dividend of 7.5 cents per common share, payable on December 15, 2021, to shareholders of record on December 1, 2021. The company, a global provider of On-Demand software and E-commerce services across various sectors including insurance and financial services, operates from over 50 offices worldwide. With significant market presence, particularly through its EbixCash platform, Ebix has established leadership in the remittance and foreign exchange sectors in India, boasting over $6.5 billion in remittance business annually.

Ebix, Inc. (NASDAQ: EBIX) reported Q3 2021 revenues of $191.7 million, a 24% increase from Q3 2020. GAAP operating income was $28.1 million, while non-GAAP operating income was $35.3 million. GAAP diluted EPS dropped to $0.50 from $0.80 year-over-year, impacted by higher legal costs and bank interest expenses. Despite a 53% surge in prepaid card revenues compared to Q3 2020, a 38% sequential decline from Q2 2021 was noted. Operating cash flow improved to $18.2 million from Q2 2021, and the company paid a $0.075 quarterly dividend.

Ebix, Inc. (NASDAQ: EBIX) will report its 2021 third quarter results on November 9, 2021, at 11:00 am ET. The company will hold a public investor conference call to discuss its performance. Ebix specializes in On-Demand software and E-commerce services across various industries, including insurance and financial services. The company has a significant presence in Southeast Asia through its EbixCash portfolio, which leads in domestic and international money remittance and foreign exchange, processing substantial transaction volumes in India.

On August 31, 2021, Ebix, Inc. (NASDAQ: EBIX) announced that Vice Chancellor Joseph R. Slights III approved its motion to dismiss a lawsuit filed by Yatra Online, Inc. in June 2020. This legal victory may positively impact Ebix's operational focus and financial stability as the company continues to provide software and e-commerce services to various industries globally. With extensive international operations, Ebix aims to enhance its presence, especially in the insurance, financial, and healthcare sectors, leveraging its innovative platforms.

Ebix, a leading provider of On-Demand software and E-commerce services, has declared a quarterly dividend of 7.5 cents per common share. This dividend will be payable on September 15, 2021, to shareholders on record as of September 3, 2021. With more than 50 offices worldwide, Ebix focuses on the insurance, financial, healthcare, and e-learning sectors, offering a range of services including Software-as-a-Service (SaaS) solutions and financial exchanges.

Ebix, Inc. (NASDAQ: EBIX) reported Q2 2021 revenues of $246.3 million, a 121% increase from $111.3 million in Q2 2020. GAAP operating income was $27.3 million, with a GAAP diluted EPS of $0.51. Challenges arose from COVID-19, particularly affecting operations in Brazil and India. Despite these, non-GAAP operating income was $33.9 million and non-GAAP diluted EPS was $0.76. International revenues surged 200% year-over-year. The company anticipates an IPO for EbixCash in early 2022, focusing on stabilizing cash flow and reducing debt.

EbixCash, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), has appointed Sunil Srivastav as an independent director on its board. Srivastav, a former Deputy Managing Director at the State Bank of India, brings extensive experience in corporate and investment banking. He has previously led digital initiatives at SBI and serves as a Senior Advisor for major firms, including Edelweiss and the World Bank.

Robin Raina, Chairman and CEO of Ebix, highlighted Srivastav’s expertise as crucial for the company's growth, especially in anticipation of a potential IPO.