Ebix Shares Tick Lower Missing Q2 Revenue Expectations, Flattish Growth In EbixCash

Ebix, Inc EBIX reported second-quarter FY22 revenue growth of 2% year-on-year to $250.8 million, missing the consensus of $273.1 million.
Prepaid card revenues declined by 14% Y/Y.
Segments: EbixCash Exchanges revenue grew 0.4% Y/Y to $188.6 million, Insurance Exchanges revenue grew 0.9% Y/Y to $42.3 million, and RCS revenue grew 20.6% Y/Y to $19.8 million.
Travel and foreign exchange revenues grew by 293% Y/Y.
The e-learning business also benefitted from the reopening of schools in India and contributed a 600% growth rate Y/Y.
The Risk Compliance Solutions revenues grew 21% Y/Y due mainly to the 70% growth in its BPO business.
Non-GAAP operating income was flattish Y/Y at $34 million.
Non-GAAP EPS of $0.75 beat the consensus of $0.56.
Ebix generated $21.4 million in operating cash flow and held $83.3 million in cash and equivalents.
Price Action: EBIX shares traded lower by 4.10% to $23.65 in the premarket on the last check Tuesday.