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Ebix Inc (EBIX)

  • Fri, May 15, 7:52 AM
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  • Tue, May 12, 3:12 PM
    • Today's notable tech gainers include insurance software/data exchange provider Ebix (EBIX +5%), Chinese polysilicon maker Daqo (DQ +6.9%), networking SRAM maker MoSys (MOSY +7.7%), enterprise mobility management software firm MobileIron (MOBL +6.3%), U.S. solar installer Solar3D (SLTD +4.3%), and Korean analog/mixed-signal chipmaker MagnaChip (MX +5.3%).
    • Notable decliners include Chinese online retailers (JD -4.4%) and Vipshop (VIPS -5%), Chinese Internet mini-conglomerate Qihoo (QIHU -4.6%), and cloud online learning software provider 2U (TWOU -5.6%). The Nasdaq is down 0.2%.
    • Daqo is now up 11% since last Friday's mixed Q1 report. Ebix is up 18% since delivering a Q1 beat last Friday. MobileIron's gains come after the company named well-traveled tech vet Simon Biddiscombe its interim CFO. Solar3D is rallying after issuing a PR that sings the praises a of an upbeat Bernstein report on solar cost declines.
    • Qihoo and JD are more than reversing the Monday gains seen amid a Chinese Internet stock rally. 2U has now fully given back the gains seen last week following its Q1 beat.
    • Previously covered: Rackspace, Everyday Health, magicJack, WidePoint, LivePerson, YY, STMicroelectronics, ChipMOS, iDreamSky, Leidos, Photronics
  • Fri, May 8, 5:40 PM
  • Fri, May 8, 12:55 PM
    • EBIX has made fresh highs after topping Q1 estimates. A 255% Y/Y increase in Risk Compliance Solutions (RCS) revenue contributed to the beat, as did an 11% increase in Exchange division revenue to $46.7M. Broker Systems revenue fell 16% to $3.7M, and Carrier System revenue 17% to $1.2M.
    • Ebix attributes its sales growth to "revenue growth from Life, Annuity, Underwriting, CRM and Health Ecommerce services in addition to revenue growth generated from the Company's 2014 acquisitions of HealthCare Magic, Vertex, and Oakstone, partially offset by the drop in revenue from international locations as a result of the strengthening U.S. dollar and a decrease in revenues from the company's pharmaceutical and P&C Carrier backend operations." A strong dollar had a $1.9M impact on sales.
    • EPS received a lift from $22.3M worth of buybacks. Thanks in part to acquisitions, GAAP costs/expenses rose 35% Y/Y to $43.3M.
    • Q1 results, PR
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  • Fri, May 8, 7:34 AM
    • Ebix (NASDAQ:EBIX): Q1 EPS of $0.51 beats by $0.08.
    • Revenue of $63.8M (+24.1% Y/Y) beats by $2.8M.
    • Press Release
  • Thu, May 7, 5:30 PM
  • Wed, Apr. 8, 3:12 PM
    • With the Nasdaq up 0.7% and high-beta names performing especially well, only a handful of tech companies are posting outsized losses. A larger number are posting big gains.
    • Notable gainers include Chinese auto sites Autohome (ATHM +6.3%) and Bitauto (BITA +6.7%), insurance software firm Ebix (EBIX +4.8%), Russian online payments leader Qiwi (QIWI +5%), touchscreen tech developer Neonode (NEON +7.8%), IT services firm WidePoint (WYY +4.9%), and online video ad-buying platform TubeMogul (TUBE +4.4%).
    • Autohome and Bitauto have joined a long list of Chinese Internet stocks that have shot higher following an overnight rally in Hong Kong. Ebix is about $1.50 away from a 52-week high of $31.55. Qiwi is now up 9% on the week amid a broader rally in U.S.-traded Russian firms (aided by rising oil prices and a stronger ruble).
    • Previously covered: Yahoo, Rambus, Qualys, Digital Ally, Silicon Motion, Energous
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  • Fri, Mar. 13, 12:45 PM
  • Fri, Mar. 13, 10:01 AM
    • EBIX has surged to new highs after soundly beating Q4 estimates, thanks in large part to an acceleration in Y/Y revenue growth to 19% from Q3's 1%.
    • The Vertex and i3 acquisitions helped Ebix's risk compliance/BPO division revenue rise 192% Y/Y to $11.4M. The company's core Exchanges division saw revenue rise 6% to $44.2M, thanks to both existing products and the Oakstone acquisition. Broker Systems revenue fell 9% to $4.1M, and Carrier Systems revenue fell 26% to $932K.
    • GAAP operating expenses (including cost of services) rose 20% to $39.6M; op. margin was flat at 35%. $55.5M worth of shares have been repurchased since August. The company says it plans to "review our dividend plan along with the pace of the share buy back plan, with a view towards ensuring that we provide enhanced value to our shareholders."
    • CEO Robin Raina: "We intend to grow our business both organically and through accretive acquisitions in 2015 and beyond. Ebix has proven that it is able to acquire niche recurring revenue businesses at cost effective prices, generating accretive returns on investment expeditiously..."
    • Q4 results, PR
  • Fri, Mar. 13, 7:32 AM
    • Ebix (NASDAQ:EBIX): Q4 EPS of $0.45 beats by $0.06.
    • Revenue of $60.6M (+19.2% Y/Y) beats by $7.75M.
    • Press Release
  • Thu, Mar. 12, 5:30 PM
  • Tue, Mar. 3, 11:47 AM
    • Ebix (EBIX -1.3%) has acquired Via Media Health, an Indian provider of "Healthcare PR, Digital Communications & integrated communication solutions and content services for Consumer Healthcare, Hospitals, Medical Devices, Diagnostics and the Pharmaceutical industry." Terms are undisclosed.
    • Ebix plans to add Via to its A.D.A.M. health information exchange unit. Back in December, the company bought Oakstone Publishing, a U.S. provider of certification materials and continuing education products for healthcare professionals (also integrated with A.D.A.M.).
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  • Tue, Feb. 17, 2:00 PM
    • The Insurance Insider reports Ebix (EBIX) has won a contract from a board created by London market insurers and brokers to create an IT platform that will enable electronic insurance payments.
    • Shares have soared to their highest levels since 2011.
  • Thu, Feb. 12, 7:51 AM
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  • Thu, Feb. 5, 12:44 PM
    • Ebix (EBIX +1.7%) has upped the size of its credit facility commitments by $40M to $190M. In addition, the facility's accordion feature has been amended to allow its total size to potentially reach $240M (up from a prior $200M).
    • The insurance software vendor says it will use the extra cash to "fund its growth and share repurchase initiatives." It had $49M in cash/short-term investments at the end of Q3, and $65M in debt.
  • Tue, Jan. 6, 10:15 AM
    • EBIX says it has "reached a resolution with the Internal Revenue Service with respect to the previously disclosed audit of Ebix's income tax returns for the taxable years 2008 through 2012."
    • No "adverse assessments or deficiencies were asserted with respect to any recurring operating transactions." The assessment is expected to have a ($1.4M) impact on Q4 net income, after taking into account "previously established and disclosed provisions for uncertain tax positions."
    • Shares have jumped to their highest levels since the June 2013 Goldman deal termination.
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Company Description
Ebix Inc provides a series of application software products for the insurance industry from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial industries.