The financial company Ebix is increasing revenue at a rapid pace

Software solutions provider Ebix Inc. (EBIX) has published a report for the fourth quarter and the whole of 2021. Ebix continues to increase revenue at a high double-digit pace because of the growth in sales of EbixCash payment processing solutions.

In 2021, Ebix’s revenue increased by 59% year-on-year to $994.9 million. GAAP earnings per diluted share decreased by 26% to $2.22. The company reported a quarterly dividend of $0.075 per share stock of cash and equivalents amounted to more than $99.6 million.

The major driver of Ebix revenue growth is the EbixCash subsidiary. This is a large financial service that operates in over 190 locations in the Asia-Pacific region. The major market for EbixCash is India, where it is by various companies, for example, transport service providers. Also last year, EbixCash showed growth in four out of seven regions outside India. crisis had a strong negative impact on Ebix because of a decrease in the number of tourist trips, the volume of money transfers and a decrease in consulting income.

The negative impact remains, but Ebix’s financial performance has already improved significantly. In the fourth quarter, revenue grew by 20% year-on-year and by 39% sequentially compared to the third quarter of 2021. Growth shown by the segments that were most affected by the pandemic, in particular, financial transactions in distance learning and travel, as well as currency exchange. Sales of Ebix IT outsourcing have also increased.

Ebix is a major global provider of IT services and infrastructure for insurance, financial, medical and other companies.