EBIX INC
ebix.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 14, 2023. Its latest SEC filing is a 15-12G from Aug 30, 2024.
10-Q for Q3 FY2023, filed Nov 14, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Provides financial transaction services to consumers and businesses, and insurance software and outsourced administrative services to insurers and financial firms.
10-K for FY2022, filed Mar 15, 2023Ebix is a leading international supplier of on-demand infrastructure exchanges to the insurance, financial services, travel, and healthcare…View ↗
The Company’s EbixCash Exchanges (“EbixCash”) division executes a "Phygital” strategy that combines over 650,000 physical distribution…View ↗
The Company’s product and service strategy focuses on: (a) expansion of connectivity between all entities via its EbixCash and Ebix…View ↗
How Did They Make Money?
EbixCash earns from prepaid gift-card sales and fees for money transfers or exchanges, generally when cards sell or the transaction is completed. Insurance Exchange customers pay subscription fees over a contract, transaction fees as transactions run, or for software licenses when transferred; certificate services earn fees per certificate issued or tracked.
10-K for FY2022, filed Mar 15, 2023EbixCash revenues are primarily derived from the sales of prepaid gift cards and consideration paid by customers for financial transaction…View ↗
Insurance Exchanges revenues are primarily derived from consideration paid by customers related to our SaaS platforms, related services and…View ↗
Subscription services revenues are associated with performance obligations that are satisfied over specific time periods and primarily…View ↗
Transaction revenue is comprised of fees applied to the volume of transactions that are processed through our SaaS platforms. These fees…View ↗
Software license revenues attributable to a software license that is a separate performance obligation are recognized at the point in time…View ↗
The Company provides services to issue and track certificates of insurance in the U.S. and Australian markets. Revenue is derived from…View ↗
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10-K for FY2022, filed Mar 15, 2023
FY2022 revenue by reportable segment ↗
$1.1B
-
10-K for FY2022, filed Mar 16, 2023
$1.1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
EbixCash Exchanges
Mix
10-K for FY2022, filed Mar 15, 2023 |
76%
FY2019: 55%
|
EbixCash Exchanges, FY2022
$797.8M Sources
|
Mix |
|
Insurance Exchanges
Mix
10-K for FY2022, filed Mar 15, 2023 |
16%
FY2019: 33%
|
Insurance Exchanges, FY2022
$171.2M Sources
|
Mix |
|
Risk Compliance Solutions
Usage-based
|
7.7%
FY2019: 12%
|
Risk Compliance Solutions, FY2022
$81.2M Sources
|
Usage-based |
Who Were Their Customers?
Insurance carriers, brokers, banks and financial firms use its software and exchanges; consumers and corporate customers use EbixCash's money, foreign-exchange, travel and gift-card services through its outlet and agent network. Schools use its e-learning products.
10-K for FY2022, filed Mar 15, 2023The Company’s EbixCash Exchanges (“EbixCash”) division executes a "Phygital” strategy that combines over 650,000 physical distribution…View ↗
The Company’s product and service strategy focuses on: (a) expansion of connectivity between all entities via its EbixCash and Ebix…View ↗
EbixCash sells general purpose prepaid gift cards to corporate customers and consumers that can be later redeemed at various merchants. The…View ↗
Employee Benefits: Ebix currently provides employee benefit and health insurance exchange services using four platforms: Facts, LuminX…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 6 cents of every revenue dollar as net income in FY2022 and turned 6 cents into free cash flow.
10-K for FY2022, filed Mar 16, 2023
$287.4MView ↗
10-K for FY2022, filed Mar 16, 2023
$64.6MView ↗
10-K for FY2022, filed Mar 16, 2023
$63.1MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q3 FY2023, filed Nov 15, 2023
−$10.3MView ↗
- ▼ Now a loss
- vs $18.3M in Q3 FY2022
-
Aug 30, 2024
Reorganization plan took effect; existing shares were canceled
The plan became effective, and existing common stock was canceled without compensation to holders.
Sources
8-K, filed Aug 30, 2024
The information set forth in the Introductory Note of this Form 8-K is incorporated herein by reference. On the Effective Date, the Plan…View ↗
Grew. Revenue grew 2.1x in 4 years, from $497.8M in FY2018 to $1.1B in FY2022, about 21% a year.
Who Did They Compete With?
Competes with ICICI Bank, HDFC Bank, Thomas Cook, MakeMytrip, SOTC, iPipeline, Insurance Technologies, Salesforce.com, Redtail, Microsoft, SAP, Oracle, Trizetto, Mphasis, EDS, VBA, Plexus, HealthEdge, Applied Systems, and MyCOI.com
10-K for FY2022, filed Mar 15, 2023EbixCash World Money is the largest non-bank foreign exchange operation in India in all business segments, including the retail, corporate…View ↗
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