Recent EBIXQ transcripts
Associated EBIXQ filings
Darren Joseph | Corporate Vice President |
Robin Raina | Chairman, President and Chief Executive Officer |
Sean Donaghy | Chief Financial Officer |
Jeff Van Rhee | Craig-Hallum |
Allen Klee | Maxim Group |
Good day, ladies and gentlemen, and welcome to the Ebix, Inc. Fourth Quarter 2018 Investor Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, today’s conference maybe recorded. to conference like to now would turn over the Mr. I Corporate Vice Joseph, President. Darren begin. Sir, you may
Thank to Welcome, call. you. everyone earnings fourth conference quarter Ebix Incorporated XXXX
me Chairman, is Raina; Joining Ebix the CEO, and Donaghy. and Robin Ebix Sean CFO, discuss to President quarter
open will questions. the call we remarks, for our up Following your
let Now quickly the cover me harbor. safe
businesses those regarding opinions future we of the statements our long-term investments, obligation differ These that forward-looking to from new that the are our only expected of note as the Please a risks revise future of make today number or of information use of results forward-looking, materially undertake and might or and no Ebix’s innovation, publicly and including, of statements forward-looking of involve these Some in and uncertainties we to projected release to any the among revisions cash. statement. cause performance presentation, our others, statements reflect our these forward-looking statements results of light growth statements actual date events. in the this that
cause description concerning factors may are results SEC information affect which our results. contained could more made those actual forward-looking risk that factors from in to materially today a list filings, of in the the Additional detailed differ statements our that
quarter Our being webcast also is results press the The were at announcing this the www.ebix.com/webcast. investor call XXXX audio live release fourth issued of this morning. web on
X:XX Standard the the what financials will of transcript at call website, look can of today. provided Ebix homepage text on website Eastern beyond The Investor available Ebix’s been the Time www.ebix.com. release also be in and You our has PM the audio after on this
growth increased the company’s been in XXXX. fourth ago quarter constant quarter compared channel quarter of service currency million, compared Ebix’s increased now the in a quarter This from million. basis, the e-learning the revenue and growth exchanges, content, finance area in various from life strategic of the third-party up continued largest during XX% period the XXXX. In XX% in a year-over-year same channel annuity increased of the EbixCash to perspective. terms revenue, the revenue the business. businesses, travel in a XX% Full as year-over-year XXXX by company’s the and Revenue On On as to exchanges, GAAP to to company’s non-GAAP health exchanges XX% discuss growth to XX% of me QX with our fourth from revenues. income $XXX.X revenue underwriting XXXX million and exchange generated channel. Exchange improvements Forex, operating quarter million result of exchange, XXXX $XXX.X aided revenue a a to Ebix, is the to be Let and $XXX.X RCS fourth for accounting $XXX.X year revenues Exchanges year of revenue currency record the Financial consulting from The exchange $XXX.X EA, year-to-date EPS. exchange in the primarily increased CRM in our as basis, Financial as revenue in compared reflected the from remittance, inward the $XXX XXXX. offset for million EbixCash reflected The exchanges, million revenue year-over-year XXXX, declines administration constant revenues by has of
$XX.X the growth, million. $XX.X the when XXXX, and billed million ventures year million comparing XXXX a in XXX% Our of XXX% in XXXX – included to in India-led period revenues a $XX.X same Indian-led revenues QX continued growing by year-over- QX other The of to growth India year market showed Indian-led the Asian $XXX.X in growth XXXX. countries in XXXX, including full from in from million of revenues
million growth over $XXX.X of XXXX to most in Exchange the experienced geographical the the QX pleased in our revenue QX by revenue currency We over from growth million India. Singapore in by QX X% markets. XXXX and QX primarily the in XXXX sequentially India line was Australia, QX EbixCash constant million and revenues growth XXXX QX Growth On $XXX.X a in X% New businesses. sequential basis, growth overall to million. $XXX.X top our driven XXXX The U.S., by driven XXXX. with the in $XXX.X of grew in revenues Zealand, was by in Financial Brazil, the sequential businesses. growth are sequentially We grew a
billed translating countries. basis, the India-led to grew got million in from Our $XX.X $XX.X run statutory XXXX, million an for revenues revenues million revenues QX other million. some QX XX% rate in of to $XXX India-led a sequentially Asian accounted approximately annualized On XXXX including in of India in that XXXX, consolidated QX standalone $XX.X
growth in the for of in at accounted exemplifying our experienced the growth expect accounted this sequential and business. revenues have to to quarter, businesses, Ebix targeted due our revenues the a revenues of continually XX%, a and in XX% organic We International India initiatives continue number growing revenues Financial Exchange the tremendous in XXXX primarily inorganic we’ve international for QX while EbixCash India-led manner.
revenue our exchanges new India businesses streams in in As through insurance insurance our BSE-Ebix will start account the that to expect for India. deploy venture, we we substantial
new a the growth now over that During in number contribute his discuss call our turn initiatives Sean. to to talk, will XXXX. Robin I will to of
let only compliance a quarter XXXX. quarter and thanks XXXX earnings QX U.S. a support XX, and results. revenues EPS. to based consolidated Fourth operating Cuts was have of its all non-GAAP specializes diluted areas difference concluded company’s that, between compares and share similar December remediated XXXX and one-time in non-GAAP a in associated by the company GAAP convey This I’m quarter – and and business and in renowned to $X.XX. per earnings the the diluted that strong combinations Ebix. the its income, fourth the The non- in but not firm outset, Darren, the fourth $XX.X pleased the terms The accounting company quarter that early that in structure remediated of was declared investigations you, share determination follows and the weakness the call weaknesses announcing successfully earnings was – by GAAP third-party company of for XXXX, auditors XXXX while with $X.XX, in effect $X.XX a that This XXXX as of the of Jobs Thank growth me. per were me Tax of earnings taxes has income internal interest At because say has controls to the GAAP million Excuse was EPS the weaknesses. diluted transition. in your
what where you’re Quarter? on a Just well there. Sean, this For there. sorry sorry. feeling Sean, for going I’ll fiscal year take from the on. at second, full so from to line take that. I’m I’ll it isn’t then. XXXX? I’m speak Sean minute,
was For per fourth in XX.X QX share to decreased diluted to the full GAAP as earnings of compared Ebix’s and XXXX XXXX. $X.XX $X.XX, diluted were fiscal share per outstanding million quarter weighted $X.XX in XXXX. shares of year non-GAAP in diluted earnings to of XX.X XXXX compared average million
the a million $XX.X operating $XX.X million, XXXX today, while income the XX% count at transition $XX.X of income QX XX.X rose one-time million on for our tax under QX at $X.X XX% earnings. QX QX $XX.X million stood XXXX net in margins to income with million. taxes will year $XX.X ago, for was decrease to XXXX. from $XX.X income of a million XXXX, approximately compared diluted the be to tax million quarter. the XXXX in to share of million plan Trump Operating foreign company XX% before compared As QX the QX in up expects
are about pleased fact XX%. our operating We consistent the that the robust sequential company income activities, and operating growth, flows from margins quarterly continues to with report revenue attractive cash operating
XXXX. XX% scale compared XX% up to million we months, million XXXX. $XXX.X to by at generated income margins operations over six for year few XX%. increased $XX.X were Operating operating we to operating XXXX million business As our in $XXX a as million, from XXXX $XX.X in in margins our points. Cash expect compared to to Full next grow XXXX, the rose
borrowing total $X.X these cash the existing of approximately XXX,XXX the of quarter ended the $XX.X loan fund million, with our of from XXXX, million $XXX.X available to the available million dividend and $X.X debt credit a sheet including a X.XX, invested million payments Furthermore, from tax sheet QX liquidity debt-to-equity cash a with term closing payments. cash X.XX facilities the on QX. million funded and $X.X $XXX.X we During ratio bank cash, the remains after in in towards current the XX, on short-term solid million, CapEx, flow available the X.XX healthy the balance on leverage capacity of metrics, and million our an to and principal a drawing initiatives company. key Ebix accordion on We payments, cash balance of operating remains $XXX.X acquisitions with position quarter, XXXX. short-term position December while six company’s ratio financial plus of equivalents as and working of a of our reserves of investments capital, of ratio
Finally, filed voice – a about Sean. Sean well. I’m had concerned This he being Ebix has actually me today. Form but he bad XX-K apparently, is was feeling isn’t for speaking
and results rate company my before and investors here. as of our in million. one. sorry million Record I million of record based in – impact I a the for compensation run and $X.XX one revenues, record just now It record an on constant GAAP Robin just translating for truly speaking of an But EBITDA Ebix. to XXXX, outstanding are of tax. $XXX.X at every have million XX% XX%. we’re that. transition had to margins annualized $XXX XX%. $XXX recent now. QX Annualized This I’m QX consecutive on time. to just many $XX.X while operating year not line approximately top morning, of of with congratulating $XXX annualized rate one, retaining non-GAAP start call, revenue stock many of the what run close our in been EPS that I’m our Record plus our off in fourth the $XXX quarter, These to all capped the has currency while the spite pleased XXXX operating I’m growth. having operating approaching keeping of margins goal or one-time XXth revenue, in above. as getting our synergies million had all Full annualized continue is in has taking to So diluted entire fronts, of done $XXX.X sequential talked Especially revenues. quarter. shareholders will Good stretch[ph] want year has put I margins revenue first million In for place revenue, about also we investor year our in of were to that pleasing, XXXX still respect been now getting time million of at acquisitions. by
have goes also our able itself I’m record quarters for incredibly believed of humbled in XX,XXX themselves in again. company this we the splendid the The XX letting always to about speak to financial by We their especially have performance and consistency for letting that effort intact pleased keep in as performance I’m quarter. direction, our in plus Darren were by for of financial our results talked credit speak and our worldwide. financial Sean the put employees the that effort.
exchange Rising on while point Let and world the would the have leading We all state today incredible course segment. our this today shareholders. today support and is insurance would finance of company that but a without perspective. partners in not culture set largest not great be the the talk all employees, establishing path role have business customers, about to our Ebix a India’s the a a few with XX the Ebix me in now got event Group to an that on India, the our from of converged is my our each Group of in just largest CNBC-Awaaz. Modi at and XX XXXX. Shri and Summits Network on keynote New on of XX India’s a TVXX, honorable delivered owns operates of The presented and host Narendra XXXX. Biggest XXth, the by television days Prime one with CNBC, February Ebix Minister CNN that’s February A summit mission. India’s media XX, XXth, company partnered news Delhi including back, is to Leadership India Company channels, Network
summit, pan-India leaders explore celebrate TVXX of also Going India CNBC, opportunities Summit makers was live an designed as Ministers, was other initiative a rising titled, in Ebix The India in TVXX, participated India. emergence top wide theme, for Cabinet to the of which CNN on the CNBC-Awaaz. continued discussion a Formally with the summit “Raising superpower India, Chief corporate business global with business discuss XXXX, Presents economic India visionaries, to writers Rising of telecast top emergence included XX and Ministers, Above, and issues Beyond.” policy entertainment Union policymakers, included and of and the economists, I thought-leadership and leaders panel the icons, and nationally group array
results Let company revenues in XXXX growth me geographies, experienced geographically. in company worldwide Zealand, sequentially the XXXX over Australia, our Brazil. now grew States. discuss In X.X% key the QX including and U.S., United of the the X% India, while QX most XXXX, QX New Ebix increasing of Singapore
India led XXXX revenue in grew Our $XX.X to sequentially QX XX% million.
achieved Brazil have currency record Our operations both Australia revenue local quarters – terms. and in achieved have
revenues our expenses. health new QX insurance in deductibility the our underwriting, wanting U.S. In business. about education Our because of traditional stronger large involved aided areas year performance U.S. their up than We our the ahead of continuing was sector. operations us operations commerce, also in ever are year the tax all upsurge QX ahead opportunities exchange wherein deals of growth by , actively us. and in life contract business, annuities, of exchanges, was our the by today go traditionally, aided in on in QX of revenue have in good feel pipeline etc. many e-commerce, claim doctors signed every to growth closing education our continuing content, Today the and U.S. health seasonal facets a
record as best in terms. and local currency their Australia in also Brazil Our a currency recorded operations local year terms quarter
new these that contribute countries; involved results the year both also opportunities are creating will in large lines of We product in our the new a as number signed carriers these have in markets, XXXX. in to
We’re very pleased with that.
continued from to strength. operations UK to grow have strength Our
the market beaten usage, Our markets of all as forms set London insurance has now. lifeline now exchange the and of of in up targets PPL terms aggregation by
the our helped continues in not a India transactions London, strong While these be growth to the has the we year Brexit from today. and increased for things operations in confusion benefit business expect company exchange to of area XXXX.
side, than we honestly India respect year. dollar year momentous depending see is and are also already. ahead be to India large as and for many will our a opportunity, possibly a in India, India. on U.S. our can in largest this country Considering operations exchange very long-term the possibly our there business short fast see opportunity we detail us I momentum financial short-term, the expect have We in the in the and business believe on India with larger existing the as execute discuss XXXX of the what operations subcontinent We we be times the that in to emerging some multi-billion the that as We and as how in a company
India. what we’re discuss to do me in Let trying
operation world. and encapsulate entire trying All India to knowledge across is many managed is a are team admin, based divisions, under plus Noida. EbixCash corporate ours. finance, and Managing core centralized HR, management based We’re as that the build technology, to travel global deployed that India-based branded a We’ve services, are primarily are can travel we services then by each financial operation divided X,XXX effort the a distribution to EbixCash India distribution build legal, – and development, like trying today IT, insurance into strong and e-learning an for be Director. center the of in etc. people in
rates and U.S. year-over-year. Director manpower, these two the that’s XX% of BSE level Besides and India management. insurance the finally expertise We people erstwhile grow sales international services, to out we besides sales at run a managed growth corporate prospects also teams, healthcare-related run managed has divisions of growth that, founders continually senior operation. Ebix in managed start-ups the by by number and our of Each
corporate products, remittance exchange utility technology approximately remittances, $X.X domestic retail with of area in is share common Weizmann payment undisputed position the and in of now inward India In EbixCash has and annually, large Director EbixCash area sales market. plus become and fall exchanges in domestic of of should of international across remittance leader impact while as of acquisitions, me an them today of card each EbixCash remittances, the volume recent led business all quarter has undisputed of in billion Let gross estimated for $X utilities In operations, we prospects dominant a one billion In and exchange has outward In the The recognized beyond. Managing leadership position will two managed level annually. first finance by leading two an domestic under area and foreign this of exchange, consumer having for billion in that $X.X remittance inward beyond. XXXX India the foreign Forex operations. and backbone, end-to-end In outward annually. the area exchange of domestic be Union – Western Indian discuss of visible EbixCash Essel one times, enabling value opportunities their is value payment cards merchandise created that with and made one India providers. inward largest cards, remittance approximately the namely integrated leadership acquisitions markets division. EbixCash cross an the in person these foreign the growth both now has outward Division branded merchandise In with of XXXX XX% all space complete categories of and the a gift XXX-plus and financial division includes our to ample and for remittance gift of integrated and operational now course, gift common brand co-partners. in area retail with payments, at this the teams, remittance a This interfaced selling. division
in outside this and business markets large of We are both in the India. division, midst domestic in opportunities many
example, Dubai airport large fall plus one XX that, For currencies at exchange at in a contract is terms of foreign with busiest this under beyond foreign the in by are and international and exchange division. revenue VAT for the the opportunity Airport, conversion the That recurring would travelers. XXXX refunds handling very for airport itself besides world of thus
that the see for services stages sign more markets agreement. East, in Singapore, opportunities partner U.S. at the street the are in Middle high another airport we of their in to key closed Philippines, with on course We all like Indonesia, GCC these of the international countries, tremendous to We last deal with Australia, in Singapore large in sell a and Thailand locations partnership use Brazil, household MNC Recently, all our to we agreed London, name Singapore them. a when services
and We large business with Canada London, also market position the grow to competes strong areas. further Kong, this India, Hong new respect in world India. the etc., are exploring anybody across placing course, dominate in at abroad our in besides us of these numerical to We opportunities Indian today functional with as business also and strength a many present the in division,
India. acquisition respect We’re sector in businesses these XXXX. markets all also sequentially pursuing some with QX, in In QX of to outside opportunities grew the international
and area run etc. corporate employees, They and respect corporate hotels Travel is X,XXX team Director sequentially, brand have sales luxury, travel in business. Mercury and diverse second the few incentives, is backbone, events, an corporate that of is like XX position Via network terms convergence. airline terms amongst hotels, grew negotiation excess a independent executive XXXX. around QX a division a common two and second today SME of and with and travel trains, procurement, business have EbixCash a and branches Mercury, both and X,XXX agent to and retail of markets sports of business MICE clients. $X.X today QX, travel merchandise operating managing BXB plus people exhibitions] division have billion, EbixCash with common brand. named brands, in and Managing the portfolio of on With driving chief common top while of largest in net The ticketing, these GMV. plus revenues. an The of and [meetings, encompasses ticketing, Senior estimated Both conferences, players their level international cabs, technology India’s Via buses, gross value a is both businesses In airlines, in domestic team XXX,XXX, etc.
fastest add fast growing new an in this markets continue see clients take to to travel markets. fourth leading the at XX% travel growing and market. now consumer XX% are important position and we corporate and quarter. opportunity We I of annually, growing it travel area as is India’s EbixCash the India’s a the to for in rate that lead
We are growth as on listed being BXB consumer, the are number oblique in focused NASDAQ business a we behind oblique today. this And I second of markets one Yatra end by XX% organically. retail year. see the today
in that exchange in solution processes market recently The We’re dominate XX% approximately see travel of a Zillious gross India’s platform travel on-demand intend platform sell a passengers, took India, the travel of opportunities. integrated States Limited. non-aligned exchange for Middle focused their Each conducting to technology number technology management deals further in annually, and travel aggregators systems, to Rajasthan an transport initiative opportunities area Zillious build, portfolio X,XXX the within end-to-end on such the Public States operate per their the is Exchange platform Private international it Roadways estimated opportunities and management an promote a recurring markets. Corporation. United key tend attempt the billion merchandise travel won Zillious own India. while the forward also these approximately pursuing as besides We of is for with play buses can intend systems to India to keep across Zillious annum. bus various our transport across and maintain count Bus pure entire label allow XXX traveling like We continents deploying order markets exchange Division We controlling clients establishing India. based an powering of deploy of Bus and United one over leadership exchange in than of fast corporate eight to multimillion million we on-demand more East, to in bus technology SaaS bus roadway corporate In travel like to to depots. internationally value EbixCash Solutions Recently, Asia, segment solutions and companies annually be the revenue bookings the stake depots technology and as bus while involving that dollar million solution in $X.X buses Ebix XX white Europe.
We numbers deals are in to can contribute XXXX. many presently the of in midst that strongly our
from returns of to terms a than for this fare. good focuses revenues trips, In AHA network EbixCash exchange expect in business segment foreign on XXXX. see complement travel, of our and while a network. light Taxis pioneered our trade has business with managing whereas in solved the AHA its growing, India. for Taxis and taxis business offering market We more and a of intercity the registered norm We operations. corporate asset operating AHA perfect cab airport QX return also has on-demand venture, outstation an as exchange income, beginning retail and hiring technology cab of as AHA this a XX,XXX one-way in Taxis problem this algorithm fare charged travel proprietary and area our
make on countrywide a campaign launching household AHA a India. in name working are to We
We in segment from XXXX. expect this strong revenues
an a a train tickets EbixCash. We the reserved train EbixCash possibly luxury on deals, would as brand of dominant train are by having share presently we in while working wherein the
rides, e-ticketing that adventure travel Himalayan for with on venture large today part Indian etc. travel a Railways. is focusing are already expedition as player travel, our our Himalayan portfolio. blending our of exchange We expos, We are helicopter
that property EbixCash that adventure all clientele. EbixCash division enterprise Director businesses the We of technology, management Managing Towards now clients fourth Himalayan a our to of focuses that used on a sequentially XXXX. under friendly Financial trading. as the In travel exchange lending, recently needs is grew leadership international compared assets created these in and a expos extent, and of QX owns and back-end quarter, new stock area for for wealth Technology of
India. in financial leading Asia, Africa includes coming with area of East, institutions Europe, this in clientele India Middle the banks from approximately and business and XX% Our
started For example, enterprise insurance in the implementing Philippines. in we last video new for quarter, contract a
a our we become the in broking State enterprise the presently aspects to them of implementation coming wherein solution XXX technology lending. like tightly around midst division, encompasses powering stock for are largest like of large of This etc. lending management, India’s we Bank and to the also solutions allow on enterprise desktop folks their looking India, technology that for In are wherein to bank, insurance, mutual stockbrokers platform. We we of implementation all broking us the days, to working stock add interfacing interfacing its funds will the by would solutions this exchanges various wealth CRM functionality, lending, stockbrokers’ solution etc. cross-sell with with have
getting of that We advanced stages are at play. fairly end-to-end to
like content plus employees to one strongly Director. Our K-XX this through sector will the the and animation our With digital more XXX catering XD, to companies e-learning business fastest today dedicated contribute is that education of and of Managing believe school in another the XD, company out leading staff to by and venture, has line XX,XXX e-learning contracted a bottom plus sales EbixCash, total than has line SmartClass classrooms media division e-learning This to business which We of rich fast-growing reality, caters is growing India. education etc. again, India’s to virtual in led accredited this X,XXX top continue XXXX. venture,
joint like on asset logistics Another trucking is positioned the BSE’s has with Samsung and outlets us efficient in on today insurance and phygital Paints, the the etc., strongly focus Exchange initiative Routier’s Coca-Cola, gateway an XXX,XXX to model with be population expect India’s venture combining strives brings freight the significant EbixCash aggregation start as with country growth contributor logistics-driven Uber strong start-up depend of area clients insurance to EbixCash-Routier be a EbixCash’s to truckers of movement. Stock to distribution, country, in that an across effort for beyond. XXXX likely is Ebix marketplace to lite network. committed timely In businesses national to that that a venture the XXXX a contributing across Bombay plus vast of insurance Jio, logistics. carriers Asian sell With trucking Escorts, top we to
and insurance the body. While from we the is regulatory application await our ready, license technology approval functionality on
expect the biggest believe We we one regulatory license opportunities now pursuing. that anytime the is that and of are this
We are the has do any who by across sold or been to agents. never directly world, in licensed do earlier agents, part only that to brokers Traditionally insurance of have insurance We done world. to endeavoring the carrier want by different. is salespeople be something something completely
to it’s corner even financial terminals succeed. that if India, in that and mobile any a successful venture outlet. up XXX,XXX have the These the we functionality in globally it tax my overall Exchange possibilities and EbixCash my never number earnings and outlet outlets abroad. on enhanced that that. of of that already enhanced reach our income. EbixCash material pockets I’d feel allow reach, key the before. fourth we to phone in every as a over keeping of implying confirmation and business the XXXX. from base insurance lot view, will now $XX as EPS, and stand-alone period with money distribution they venture U.S. XX% finance two ready would important tax in EbixCash. they across Stock companies only transition go Trump their all generated the auditors repatriate a tool opening We the is fourth of mile our plus valuations be tax numbers India an a go One, an sold on plus to successful, revenue in as financial three Sean renowned Plan view forward DNA. of fourth competitive structure. and across ingredients easily required higher to be eight We make and million of higher as has for Three, I of outlets new India impact about finally to technology e-governance of of for quarter $XXX the brokers IPO our That U.S. going center Bombay of dividends Basically, that congratulate growth relationship companies putting agreed grocery do We investors succeed revenue outside it would want also partner, It more in abroad our net have a in good of to in for the to Sean case in through maximize accumulated could for income, while can it quarter institutions, in corporate can on, their U.S. and in it XXXX. rate are thousands joint the $XX.X outlet, cities things of U.S. These in or insurance an through as at who also firm Two, tremendous or be XXXX, the of has foreign to agencies, nook outlet, with sell talked country, an outlet more these is reform example and investors, accounting sell million is the integral number the for We’re the last India the Overall, number insurance, say our insurance through weakness Ebix’s a if travel we insurance companies million like consumer their pay activity. like $XX EbixCash or one while quarter reduces – the of of expensing distribution and for we the Trump distribution already a it sell trying and Act of Tax $XXX,XXX sell all shop, existing the of XXX,XXX insurance. consolidated American outlets, gives remediation run basis, in as backing a the a years, rate in annualized money both. important revenue a million. from translate part helical by an DNA more included to venture Jobs regards per staff stock. allow of to to to evaluate and a as
our The XXXX, run XXXX. be the my finished quarter the I investor financial that rate India by now million of compared believe I and aspirational $XXX $XXX XX%, time, at be clearly of When still quote: a I XX%.” today that we “we by million to me vision essentially, by summarize we dollar, number Indian lay gave could with Let my and and said levels talk out depreciated north north run that XX% rate I currency will U.S. currency beat as profitability of by depreciated the fourth mean talk, margin. for wide XXXX a
the quarter up to goal I’d quarter. to while should by run would having million implying I XXXX, today the million For more front like that annualized revenue quarter be as of quarterly operating in or $XXX.X rate XXXX, XX% get of aspirational of aspirational in to fourth $XXX aspirational worldwide? goal in that an income. new talk of fourth goal I you, the So, set revenue like what
we benchmark. few a or that active add early in our and up players in public operations private are to with equity me Indian the Let XXXX can we seriously pre-valuation a are IPO XXXX if possibility a for of contemplating see set discussions
have financial valuation, their values. do Our in ensure India large create ultimate do goal India, a for the a strong stake all Ebix, to prime integrity, today. establish EbixCash shareholders than exchange dollars possible more as companies trust great We in IPO. multi-bagger other as in sector in and services. of that has with as great Inc., that Ebix, companies is metrics They billions should not our just hold opportunity of operation and the Great the transparency products see financial that Inc.
our exceptional talk. for exceptional to to I’ll continued thank in me it for unique That humbling always to endeavored has hand employees. including having us priced want featuring incredibly that. five results. the everybody for in fastest-growing for most It for have shareholders, to just our to the partners operator That’s Thanks times trust partners list XXXX. the brings with companies, do an and into translated up our We it our customers, and asset, I questions. in Ebix of In in decade, over to last our outstanding employees, distinction their the for and that full-year customers, an our contributing closing, year Fortune’s the my now open our our and of QX and us. end of
Rhee you. the [Operator from Instructions] question Thank of you. first Thank with Craig-Hallum. our comes Van Jeff And line
Your line is open.
but Robin demographic bit and Congrats think more. about team, numbers questions expand good. I you’d wonder me, talked look Great. travel of with coming India, side just morning. from Thanks, your way you waves relative massive the good and start if in your really Number a a bit there, obviously, Robin, little I positioning, I’m going to little
about do peer markets? So, of more what BXB, in it a a to as competitive bit questions is that address maybe you the just touch And broke think battle? your between you the those, priority? here, couple How of and down travel BXC the sort one, advantage you landscape balance you BXC. then what on BXB, is win ultimately, Which could the
Thanks, Jeff.
me So, start travel. in with let the positioning
I actually a then the landscape. talking had positioning, think talking about BXC you’re about you’re and see you later three questions, versus I air as them, BXB
players air conduct of lot GMV with they they the revenue who end you what landscape margins consolidation, the the have conduct their and Riya market ultimately. much with of them, who that a of GMV, – the like Akbar, are landscape they the business, up have they first. in to some they ticketing agents a at big of The lower on lot agents start same pass one side let’s thousands So, time, under is consolidators, to and most do, their on basically work
these net margins share lower, to in $X Gross pretty tend most at they revenue, the their net plus, Merchandise high GMV, but revenue have smaller look net guys agents. revenues their with in a are terms billion their you when Value So, at while times because lot of
can on side, side, BXB two the consolidator then of the on other of parts. that’s market business. you into divide and the main business then So the the side The BXC the one side
market BXC player publicly So, established a traded with is the if one of the side I in business, is player, the company. start MakeMyTrip who is there that MakeMyTrip. a leader is and
Most has focus in subsidies in believe been $X.X around think the has to have of of The around and their billion $X.X main million their that they or originate around I billion consumers. international travel, domestic losses cap out provide or their somewhere today. the basically on revenues, more BXC market $XXX that but I losses, they of in subsidies the and hotel area. company
- publicly in exchange. lot thus of a MakeMyTrip two winning and ours in is player on is to player, MakeMyTrip that rates. to a basically Yatra go marketing both Yatra also of a different traded of is player NASDAQ, tries hotel and to number Yatra are the – approach and tend using a is they’re the who on you in side the second-largest subsidy BXB Then from number business, terms and the who side the business, it’s keen U.S. with the the business. business. they’re winning compete So, and their one of they the of the to win way Yatra, as business BXC subsidize,
at they’ll the which lot their tried player, in because mainly is a because and with of of is profitable MakeMyTrip. subsidies money, compete to, and the look lose go to trying lose you overall that if to business business, So, largest a they’re you BXB third us. it’s Then money not fairly profitable, of BXC lot the they
If you the at second look we business, BXB are largest.
to consumers who through of our We the BXB perspective the want to the we Our through outlets. is necessarily phygital to to consumer focus to sell the BXC we BXC been market market. want of sell What the market, employees want want to BXC but has our focus to into looking not corporates. are we retailers, the the market, want through a at we do reach reach from going market,
the per cheap. SastiTicket SastiTicket.com; on cheapticket.com wherein it means is ia.com, se, to whether basically and So, means we sell through want on directly, sasti forums, Hindi, in we of in is India have it course, channel go corporate we whether – online
want to and a absolutely side. not of lot decision decision you we plus players, relationships we on travel if very XX% of have make took a But the operating anything. BXC branded simple we emphatic So, these that a we look co-branding margin a in the very we that made business. it, will We subsidize lot at have
cash. having that, business Now is business such, said the require characteristic the will
the flows, quarter. this the see in and grow gets cash some it you reflected business of As you’ll in
Having business, in invest with exchange are we Ebix, both, in our do we and then in coming up roll going you’re you initiatives as days grow the keep to pay to cash bus over. ultimately, create and your upfront, the airlines to travel money and coming money invest we to continuing will that, keep have the XX, a exchange, you the whether you in our business. so invest whether we business with of on agents up foreign business, grow As which trying have continually said your with invest cycle coming do you and in upfront, though to XX or you
the that’s see flows, to a question made reflected you We decision. to but in So notional, on we cash simple want coming BXB back landscape, what market. very dominate your the
both ourselves, metrics. be in the is the if make ones, be top want be in gross goal the want them makes BXB Our MakeMyTrip, year player only in We who you of number value. None one Yatra look market this Yatra to beyond and terms one to revenues, number simple in of at money. merchandise the money. we’re three course, number and of to one We net
the a or that if wherein have and be great last if or that if can over are happen that phygital corner side We the into business in be in, marketing the What if Nagpur, every So consumer we that if to the of in market we first can which walk have we can to consumer to we our to compete if necessarily have strength, business, in mile, subsidizing. our and use want they don’t any means we their go next do retail number strength a try to can they’re need means, to is to which the a in network. nook we of without market do India, need technology, or and there to their rather in in next through BXC business, book BXC, convert are not you business all business, network. technology that of we digital corner which ticket great mobile and to the have in having said whether or city. C-grade lacking, want let’s believe but a have and in phone means, acquire ticket, other sitting we a want to place companies bus establish BXB wants say, the XXX,XXX through D-grade strong outlet their a outlet, they enter without remote on consumer. that, every the We traveling They’re also subsidizing to next ticket our a I outlets parallelly that have, trying financial airline retail bus with and in positioning train anybody that outlet BXB. that that They don’t don’t India facilitate city we don’t we the want clear, a that one the or enough are these the channel, subsidize and we phygital ,and corporate through
things have that’s two that where that have internationally technology. detailed which the that’s Via’s technology we remember the chain our we technology with travel works have has. in retail One, we we absolute network differentiation today the nobody So created, greatest lies retail deployable and the have internationally, built, available, is
we large we today is terms I that, today technology want of simply and solution, could to that ability. If On-Demand the – to – tomorrow we competitors I or means The outlet small to being I convert go a a we that a we wanted to can travel own is outlet, – provide a city, India, tool second edge because into do a it, Zillious a travel backbone have the that does D-grade I our of today. we a a Zillious, in have and who’s-who thing into corporate, an provide if by D-grade C-grade Bahrain convert digital travel can can use in self-booking of which have in we which tend we market have have the Zillious. used
They trying and whereas is the difference are Ebix putting in are these be Ebix agents, big to technology of super investing our players at the so center They is have. not the are players. in like distribution. that’s Now, positioning they’re these players. of All initiatives, technology, that that’s distribution we agents, involved heavily travel any of all
Got it.
same particulars, just of and plays? $XXX takes under then terms it those IPO how What’s EbixCash sort for then laid would XXXX, over there out, couple in XXXX to have I for what business, obviously in EbixCash overall and million, XXXX. QX the numbers what there to on mean And Okay. puts big of the along sort goal the lines, QX would – the in just – the QX the of of XXXX you had versus that of – have business, aspirational happen XXXX timeline implicit
that are Well, questions. what the these the do on EbixCash, two – I to. One on think separate and IPO we get that’s can believe then EbixCash
are market some inter-company to our that revenue in look, companies other of want So, in we to we India. when the at does of the part be be outside India, for EbixCash, work – consider as we on because going a – EbixCash IPO we’re would look also
are being like, to this in basically you’re means revenue sister revenue, revenue that like that revenue $X.X a would in that traded real basically like include India by include India, generate like rate, in they for talking is of I revenue, Xchanging year. which $XXX we in working publicly that for would corporations to but million now, about if see around QX in now of at So, I our and annualized we end run the those If would billion cash XXXX, are companies. their India revenue see India that in or of India investors SITEL – because
math, revenue million. translate our we’re transfer pricing in So around might to thinking $XX that the basically
subtract external basically $XXX customers. you basically they if that, India goal in for to were million targeting So want say you’ll could, you to aspirational an
into group. the or to we IPO, are private looking if meaning, respect involving looking income the a of to could by to and IPO to have So establish I or India from in large want EbixCash take operations aspirational look, just interim we’re a in that we we again, that’s goal. India that, an With more benchmark operating equity we for XX% is, what XX% think straight perspective, when an up a India IPO One go at an process. we get possibly we get or and pickup the as step, we two-step might pre-valuation might X% from
extremely company forget be two have going be and we is India lot – to we think Ebix in the private basically the we’re getting are valuation – investors we We that, trading Who a inward today. least should that Who’s with happy U.S. the in from at believe, request we’re discussions, equity of – we we company, I we are think if XXXX and at more think our of are world, we than believe today, our are if XXXX, times because, Ebix what our successful
that, benchmark, pre-valuation belief that or we believe do it do out, or up that benchmark we discussions we an – that see Now of in but to to when to might would go see, works respect that’s establish to some a equity there that’s if simply we private will the group, have not with the announce assuming if whether that, investors a active to ensure Indian going IPO whether that, simply we IPO. is But obviously publicly in there. the established for a already we that having from are said we belief, you’re that that we’ll recognize do why our – with take already and do outside then that, pre-valuation today
elections, see up don’t when for end the climate it it’s the very We a election IPO, We’d or towards like to before in in India. political to out. go that out. process to the do respect that. depending hurry XXXX play We want India, how play be on with how IPO like I would the Now of more pans we could see the like to – would let an goes, in to
from go discussions that the decisions. XXXX, if on equity informed you private we would early our on, an those – into XXXX, towards we play will keep how see either things might and of to or do so there IPO IPO we we as want take make but end also onwards as We
brief the you fill what’s cash good. domestically, And loan you then there how let do gaps third-party point? – on jump The do this growth Okay, year last just XXXX flow expectation on two I’ll that statement somebody at ones, growth-wise, domestically, the in how rate out the called here. you view rebound a references for and the but just
the Sorry, the question second understand you I’ll Can that, repeat that, I lost you that... first I but heard not in did between one. on
thoughts The domestic rates business, on XXXX. growth for
it. Got
– this So, about dates party costs overlap to one, talked to these interest an let sometimes acquiring want want in to a is money not only want are cost. we what or ensure sure is any – make that believe that the to with before you short-term sellers, we loan, – to loan – don’t making make overdraft there to when refers me start first are we we we acquisitions, I acquire sure we sometimes that that, third we tend
to sorry Can just think question, business with you off loan that we money that second we of of tend talked and pay tell all money, referring have to respect we loan that I business. the topic for the purchase them money them the to believe the before can I ensure offset that’s all the we to the to. you’re me didn’t the I I’ll... they acquire about, So you your sometimes what pay notes. to you – the With and then take
Ash you Just I know the domestic business, domestic, in non-India, August. the the the place put non-EbixCash Sawhney in business,
You the... know
you’re business, referring domestic, between growth respect to U.S., this on. U.S. the XX% X% so insurance expect that’s of the So anywhere in year, with to terms and if what we to
a leading group Ash we it. charge, So is of have people fantastic in
keep for wanting make names midst path, But grow their them, we telling announcing lots material, deal, sensitive very we’ll carriers, keep and we in you the don’t with to juggler. is business. situated the and of we’re not of we times absolutely to business have in think lots anything said to it, right that so sometimes some We’re having well announcements but go on be the to the about we’ll the that,
had anywhere U.S. between I we basically XX% So X% now, would, if bets that of rate are would this on I say my to kind in the right to I targeting place a year that, growth
XXXX on That’s from an year. me. it good. Sounds Congrats outstanding
again. thanks So
you. Thank
of question Allen the next line Klee from with Our comes Instructions] Maxim [Operator Group.
open. is line Your
– would and understand $XXX million think It us of hello. there coming already not revenue announced? of is help been much annualized a by be acquisitions much aspirational from you businesses for Yes, is yet of you from run to how that that is could that XXXX, coming of way your XQ of goal own have rate how
can the I X% answered extent hate but could acquisitions. I that terms give but you I we like a XX% plus, way that number, remaining to I – primarily in growth, of growing would at like that would are to through in come U.S. Well, what India growth. that’s thinking. that into, between the to that’s I – think detail of we we’re to possibly Again We’d basically see – and U.S. kind XX% expecting to do the go see
that Okay, Thank a think be to to have kind as then that points, year few great. terms margins could a goes, of that get you in from by some the some you get able the improve it? how the just to to down And up how discipline acquired, into you of of you that that synergies get have said lot companies you thought progresses, and set just and you drill you. a as you acquisitions trying synergies try operating you to of given those that what about bit, have could
are the public you’re really Well, deliver I always synergize, every pressure under going to synergies happen, as what But company, when quarter. right. because to you basically, acquisition, is, you to to time a an a each and investors make happens you think need expect
if company finance, get want to or – employees you HR, it synergize meaning you of businesses, on, X admin a you buy takes want you to and the XX% put we but able today, the plus of bit place, doing and want you’re do that up, to a we time, centralize be of some little lot we feel are going If should to number you a so with to have if having said not think that, synergies in we we better. that
focus simple. is rather our So
same investing would We very the happy now right up XXXX. We’d being frankly like heavily – are in with at to for margin. our XX%, XX%, not to we In we’re be XX% that’s the to in not going to it inch goal operating want purely, just because, happy we be XXXX, above get time, business.
We’re grow trying – trying your invest you as invest business, in to business. our in to we’re
are in in of – you’re invest also, we’re example, for to IPO have also going if branding. thinking you to India, an You
going to out be so bit BXC invest We’re we’re and little message a also. there across all put on, to to trying in the and also trying
some those you’re making, acquisitions, at synergies you’re considering that there’s that, will investments time as to go going because expensing what’s at really synergies quick. to any your where are work to level. time, some not any substantial do now the making for and made those so to we time, be XX% and you newer a to continue costs, have impact again But will Sean, be then until to will to come you’re something all Yes, that making happen same are these on synergy you lot acquisitions trying that you’re don’t new until the if want another to period, are you’re in goes is period to go of for keep really and if the our grow onetime But our plus you you margins this? there of you’re the acquisitions, see acquisitions, takes new this yet, to entire that add invest because heavy see acquisitions, but think happening, impact margin business operating of of you newer then but our goal some going in value of you XXXX to not continually, case, revenues, stable synergies. much have any and pretty synergies, that, time on of in of going that. XX-month I on doing and out in away, getting think the it to a haven’t impact XX% also of crazy So the goal I a
No.
to at year, at visibility globally of looking into that accounting will for give think we’re next I’ve traveling a we’re Thank the like the company weather; – and the lately under is One us and apologize globe, I breath. lost the other I’m more cost you. the over just a systems structures and everyone on bit across things call. my I’d looking been the to the little we
No issues, Sean.
think, I move to forward. substantial see emerging as continue we the you should Allen, out So synergies business of
the think you I comes we just but challenge in Weizmann. then I’ll – we bought is XX%, – give supported simple example. very This a just
operating So another decisions. to and aggressive things, We that to have just those those so get see right? take not margin going the and to some we’ll Weizmann to going Way margins. level, We’ll very happen have XX%, of quickly. of us make, Essel expense what’ll goals synergies to is out one-time the terms beyond out you’re but – and quarter to in Forex take that’s acquisition have to
continually you the making you you challenge get your newer And is sided thing, that’s about not the thinking right So we the want acquisitions, right your get it. keep and business do two up, if have can hurt do levels wanting to to thing. and margin you’re about short to
to challenges. that’s So the of I think one going be
likes, to company, going employee want synergy to take XXX, you sighted something It fantastic, to months and a tries buy only that’s is because thing take get that’s right do get and that now we properly. going out take to might have going there, with that’s do what you business, and say employees, to margin Ebix So six sometimes and be you and you short do if But keep steps and think short XX% but in And to you business. synergize scared might short to make the our if very you really to cost think X,XXX don’t that bid let’s the higher that’s the the get you XXX term. for investor-friendly off term your impact we’ll get right those margins, the ultimately, investors to am in and give the I decisions. that I those margin of of you’re try
You be smart to synergistic have in decision. making
Educomp last My the is process? you. any is, there update question bankruptcy on Thank
entire in I time, a because knew, really by because date, so we look ahead. the not know, judice since Allen, rethink months, still it’s couldn’t on the on. Last good I bound Last the to you don’t tell lowest, with an same Unfortunately, don’t we given I share value, have It’s offer, so or interest, your were how bad now is how the that Last, business the XX look we I a love have I to knew now, base, opining one and on to do process, I now, know reconsider doing have they is, then on do, CLP simple base which is that, at court to another business do update and was We have to says, the sub let’s to a it, yes, does everything sub complicated. will it’s were say, to we anything is asset business courts dictated if it. matter a court – Ebix say time. what today year courts gets depending we look, need long you today, in Frankly, the how the now, but depending bid the we start, so matter. our court. judice, after have knew go can ahead, – process how because is the very the from about is asset We’ll fairly question please you. and want the because what on move come if to that’s sometime want when
current in them not XX reset the that that, button I ahead all know, might business value. much it bit once little move goes the versus the have and back to because way we with press values, legal months value I we’ll request assuming please, almost think press So the a really to have goes share you, will button the to like process the have data, you that they through to more for say have, reset as think we’d
have without at hoping business still value, but looking the confirm to couldn’t would We’re I it. you much that that
do So we try ensure the right thing the that ask all point. at will right to and questions and
great, Okay, much. so thank you
Thank you.
you. like I’m time, questions remarks. the call Thank And Robin to showing for turn Raina, closing at this further I’d no back CEO to now
Thank you.
they your a myself it is as I it. guys, question, good – operating flow want as but ask talking was more why answered an than question to from of pop-up that me e-mail quarter, had cash to I as income, that think partly question, saw on our flow that when not cash elaborate lower going one I to was I I Jeff asking I’m why and investors, because was, So question, you was another your
examples are I trying you to on, our in. in we focusing that businesses, I’ll what all give businesses grow today we’re think so two of in India, involved our are our we business businesses, the
businesses whether start India, So is, travel. it let’s in take with the core
in agents, and a paid sell with we inventory consumers we basically the our turn, we the for by business, differentiation travel our two, so and go airlines market. agents, is the inventory prime for on. between There’s the the of the by grow timing in buying more going we get have inventory that and terms difference and we then the advance, As out of to invest source which have money, to pay the in
start business. if in today, exchange. foreign foreign will which million we’re And the with had we so the to flow looking go Via investments, capital we What cash growing the into business. we own have – you our to more business. invest there in factors not Then new are to positive. $XX in investing decide going in are either that’s QX area our in go you And exchange, want of the alone, are doing respect we with money, one. we to into In Then many investing
exchange, foreign for in to to put to invest we’re are money currency, in into have example, in have going airports. more we So continuing – buying to we
simply $X.X international a to you deals requirement in of simple particular each had give one a talked that million airport example, to advance that’s had deposit announced, we the because airport we with that So we airport. in
Take now in up cash, number, a for you point foreign that as much free that requirement will we we an so money cash the to are fund you corporates the Essel of delay as all sign of doing. with to at all because new paying operating that that you the exchange, multiply handle, just airports in you’re Essel million, our will take travel, by what point to have Forex, us, to that we company acquisitions the cash buy we cash is out, for foreign with possible, holding from to the of these money that cash the agents. were give and are advance exchange point the because day are to if going you new feeling buy the all they’re at all we time going they’re you’re or Now business, when cash Also, we hand it is There’s five money making, of currency most remittance that now, Travel airlines. of continuing a in airport to cash Lawson to at to foreign exchange, make flows any have, travel the Pearl. going business, any add over buy we inventory remittance by What to pay to in fellows buy debt is give in acquisition come time, buy going model, out we fund we of it the – for these I a funding, the or these are going a holding immediate fund cash to business, any acquisitions, the corporates exchange, you’re the our Weizmann or all to us, business. we mean take is, of to all the a time $XX shuttling have somewhere whether they around we’re Forex, or reserves you times whether it or the to in acquisitions, a whether Weizmann, pre-Weizmann we’re
business, cash, the we more in need you’re additional but if simply the cash, grow the operations invest of the keep will to particular have level, won’t going at the investing we grow then the keep to need business. business business because to and cash put the to cash, business, a if we we as rotating more going So in we you’re you’re in
to the will say, of have, we have the example we of going X,XXX the then own millions initiatives, exchange you and now We Rajasthan in you’re paid problem for good in into if us firmware a a installing these invest and firmware. we to all So give some you’ve have them, all what like in transaction to to in now installed model model some invest, have actually actually roadways, once let’s problem hardware. of have think X year, in good ultimately, go a you businesses deal get a devices, the build-operate-transfer up ultimately and, them, of own bus is, come we dollars you’re
a in with those you’re you’re model, model, So of getting that all money transactions, it’s all are more, for, to we midst initiatives, fund but first in the such now getting up the you’re for so something to our temporary that’s doing come operating it’s we resulted that, – initiative of because every business having where highly profitable are today continue drop, cash particular ticket much many fund these coming grow all to cash in the business. we simply want going and a we’re new to we’re that’s flow having in initiative to but
thought or said we business – more having possible that, minimal decided to of question that’s in just we refer So we again so might think I’ll use taking if we not different the invest you it. talk and going I that we’re about a a I’ll I see I overdraft, that money, and overdraft, think in using because are result right saw, answer problem started are But always continuing have invest that the will are nice our income. and operating part terms differences now. move simply operating some as we versus a to in ahead, these we is this fast-growing we believe, we own of cash of to a of I company But in business kind
feeling close when having So temporary glad to the further drop since, at speak no that are now. again I of for I the in one call. apologize for each speaking. thank call questions, was just you you there Sean said the We’ll I’m end in I’m that QX. call going the – he now. to coming of onto well the
we’ll So you. having said and Thanks now thank that, close the call everyone.
thank gentlemen, program. you concludes and in for Ladies participating the today’s conference. This
Everyone have disconnect. all day. may great You a
We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.