- Ebix (NASDAQ:EBIX) is 2.6% lower this morning after its Q1 earnings missed revenue expectations, though its biggest segment continued to expand and the company pursued business development.
- Sales increased slightly in its biggest channel contributor (Exchanges) and the company marked strong growth in Risk Compliance, but revenues were down 1% sequentially.
- EPS grew 24% and beat, and cash from operations was up 49% to $15.7M.
- Operating margins fell to 33% from a year-ago 35%.
- "From an M&A standpoint, we continue to pursue a few acquisition opportunities that in my view have the potential to be major growth drivers for Ebix. We hope to announce one such strategic acquisition soon," says CEO Robin Raina.
- Revenue by channel: Exchanges, $52.6M (up 5%); Risk Compliance Solutions, $21.85M (up 30%); Broker Solutions, $3.8M (up 18%); Carrier Systems, $849,000 (down 17%).
- Press Release