Ebix Inc. (NASDAQ:EBIX) Q4 2015 Earnings Conference Call - Final Transcript

Feb 29, 2016 • 11:00 am ET


Ebix Inc. (NASDAQ:EBIX) Q4 2015 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen and welcome to the Ebix Incorporated Fourth Quarter 2015 Investor Conference 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, this call is being recorded.

I would now like to turn the conference over to Darren Joseph, Corporate Vice President. You may begin.

Darren Joseph

Thank you. Welcome everyone to Ebix Incorporated's 2015 annual results earnings conference call. Joining me to discuss this year and Q4 2015 is Ebix Chairman, President and CEO, Robin Raina; and Ebix EVP and CFO, Robert Kerris. 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 revision to these forward-looking statements in light of new information or future events. Additional information concerning factors that could cause actual results to be materially different from those in the forward-looking statements made today is 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 Q4 2015 and full year 2015 results was issued earlier this morning. The audio of this investor call is also being webcast live on the web on www.ebix.com/webcast. You can look at Ebix's financials beyond what has been provided in the release on our website, www.ebix.com. The audio and text transcript of this call will be available also on the Investor homepage of Ebix website after 4:00 p.m. Eastern today. As is customary, Bob and I will walk we will talk about the company from a financial perspective, while Robin will delve into the qualitative aspects of the quarter, the year, and the future ahead of us.

Let's start by reviewing the results announced today. On a constant currency basis, Ebix Q4 2015 revenue was 20% higher at $72.9 million as compared to $60.6 million in Q4 of 2014. Full year 2015 revenues were 29% higher at $276.2 million on a constant currency basis as compared to $214.3 million in 2014. Q4 2015 GAAP revenue was 16% higher at $70.2 million as compared to Q4 2014 revenue of $60.6 million. On a sequential basis, Q4 2015 GAAP revenue was 5% higher over Q3 2015 revenue of $66.8 million. For the full year 2015 GAAP revenue was $265.5 million, an increase of 24% as compared to 2014 revenue of $214.3 million. The year-over-year revenues would be