Ebix Reports Q3 Revenue Up 43%

November 9, 2010

Atlanta-based Ebix, Inc., which sells software and e-commerce services to the insurance industry, today reported record financial results for the third quarter of 2010.

Total third quarter revenue grew to a record $33.3 million, an increase of 43 percent on a year-over-year basis, as compared to 2009 third quarter revenue of $23.3 million. During the nine months ended Sept. 30, 2010 revenue increased $30.7 million or 46 percent, to $97.1 million compared to $66.4 million during the same period in 2009.

The Ebix Exchange channel grew 66 percent year over year to $23.5 million or 71 percent of the quarter’s revenues.

Third quarter 2010 net income was $16.7 million, an increase of 77 percent.

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