Ebix, Inc. (NASDAQ:EBIX) Q1 2022 Earnings Conference Call May 10, 2022 11:30 AM ET

Company Participants

Darren Joseph - Head of HR

Steven Hamil - CFO

Ash Sawhney - President, Insurance Solutions North America

Robin Raina - CEO

Conference Call Participants

Jeff Van Rhee - Craig-Hallum

Chris Sakai - Singular Research

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Ebix Q1 2022 Financial Results Investor Call. At this time all participants are in a listen-only mode. [Operator Instructions].

I would now like to turn the conference over to Darren Joseph, Corporate Vice President. Please go ahead, sir.

Darren Joseph

Thank you. Welcome, everyone, to Ebix, Incorporated 2022 first quarter earnings conference call. Joining me to discuss the quarter is Ebix Chairman, President and CEO, Robin Raina; President, Insurance Services, North America, Ash Sawhney; and Ebix EVP and CFO, Steve Hamil. 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' 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 Q1 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 at Ebix' 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 p.m. Eastern Time today.

Let me now discuss the key metrics in our Q1 '22 results released earlier today. Q1 2022 diluted EPS GAAP grew 24% sequentially from $0.50 to $0.62, and non-GAAP diluted EPS grew 15% sequentially from $0.66 to $0.76. Q1 2022 GAAP revenues grew 7% sequentially from $267 million to $286.3 million. Our worldwide revenues, including prepaid gift card revenues, increased 11.5% year-over-year in the first quarter of 2022. Q1 2022 GAAP operating income declined sequentially by 7% from $32.4 million to $31.2 million.