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Ebix posts record Q3 revenue

International insurance technology provider Ebix has reported record third-quarter revenue of $US92.8 million ($120.87 million), up 24.4% on the corresponding period last year.

Net income was up slightly to $US24.2 million ($31.52 million), with higher operating income offset by increasing interest expense and foreign exchange losses.

Chairman, President and CEO Robin Raina is excited by the growth momentum, and says further improvements are expected.

“Our aspirational goal for Ebix is to reach a quarterly revenue run rate above $US100 million ($130.25 million) by [first quarter] 2018, with operating margins at or above 30%,” he said.

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