Why are Ebix shares falling today?

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  • Ebix, Inc. (NASDAQ: EBIX) reported a 4% year-over-year decline in revenue to $255.21 million in the fourth quarter of FY22, Breaking the Consensus of $251.04 Million, The decrease primarily due to the negative impact of the substantial strengthening of the US dollar.

  • On a constant currency basis, Q4 revenue grew 5% Y/Y.

  • Section: EbixCash Exchanges revenue decreased 6% Y/Y to $188.9 million, Insurance Exchanges revenue decreased 1% Y/Y to $43.8 million, and RCS revenue was flat Y/Y to $22.5 million.

  • Risk Compliance Solutions revenue grew 14% Y/Y.

  • Adjusted operating was $34.3 million, Up from $33.6 million in Q3,

  • Adjusted EPS of $0.36 missed the consensus of $0.54.

  • Ebix generated $32.5 million in operating cash flow and held $125 million in cash and equivalents.

  • Price Action: of EBIX were trading down 26.86% at $11.90 in the premarket at last check on Wednesday.

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