Ebix, Inc. (NASDAQ:EBIX) Q3 2022 Earnings Conference Call November 9, 2022 11:00 AM ET

Company Participants

Darren Joseph - Corporate VP, Finance & HR

Steven Hamil - Corporate EVP & Global CFO

Ash Sawhney - President, Insurance Solutions, North America

Robin Raina - Chairman, CEO & President

Conference Call Participants

Joichi Sakai - Singular Research

Jeff Van Rhee - Craig-Hallum

Operator

Good morning, and welcome to Ebix, Inc.'s Third Quarter 2022 Financial Results Investor Call. [Operator Instructions].

I would now like to turn the call over to Ebix's Corporate Vice President, Darren Joseph. Please go ahead.

Darren Joseph

Thank you. Welcome, everyone, to Ebix, Inc.'s 2022 Third Quarter Earnings Conference Call. Joining me to discuss the quarter is Ebix Chairman, President and CEO, Robin Raina; Ebix Global CFO, Steve Hamil; and Ebix North America President, Ash Sawhney. Following our remarks, we will open up the call for your questions.

Now let me quickly cover the safe harbor. Some of the statements that we make today are forward-looking including, among others, statements regarding Ebix's future investments, our long-term growth and innovation, the expected performance of our businesses and our use of cash.

These statements involve a number of risks and uncertainties that might cause actual results to differ materially from those projected in the forward-looking statement. Please note that these forward-looking statements reflect our opinions only as of the date of this presentation, and we undertake no obligation to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events.

Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements made today are contained in our SEC filings, which list a more detailed description of the risk factors that may affect our results.

Our press release announcing the Q3 2022 results was issued this morning. The audio of this investor call is also being webcast live on the web at www.ebix.com/webcast. You can look into Ebix's financials beyond what has been provided in the release on our website, www.ebix.com. The audio and the text transcript of this call will be available on the Investor homepage of the Ebix website after 4:00 p.m. Eastern Time today.

Let me now present the key metrics in our Q3 '22 results. Q3 GAAP EPS was $0.59 with 18% year-over-year growth. Non-GAAP diluted EPS in Q3 2022 was $0.70. GAAP revenues of $257.9 million were 35% year-over-year growth. GAAP operating income of $30.4 million with 8% year-over-year growth. Cash generated from operations in Q3 2022 grew 48% sequentially to $23.6 million as compared to $15.9 million in Q2 2022. Year-over-year cash generated from operations increased 30% in Q3 2022. Non-GAAP operating income in Q3 '22 was $33.6 million.