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EBIX Ebix Announces Second Quarter Fiscal Year 2021 Financial Results JOHNS CREEK , GA - August 9 , 2021 - Ebix , Inc. ( NASDAQ : EBIX ) , a leading international supplier of On - Demand software and E - commerce services to the insurance , financial , e - governance and healthcare industries today announced the following results for the quarter ended June 30 , 2021 : Revenues of $ 246.3 million GAAP operating income of $ 27.3 million and Non - GAAP operating income of $ 33.9 million GAAP Diluted EPS of $ 0.51 and Non - GAAP diluted EPS of $ 0.76 Ebix will host a conference call to review its results today at 11:00 a.m. EDT ( details below ) . " Q2 2021 was severely impacted by the second wave of COVID - 19 , with most of Brazil and India coming to almost a standstill for two months . This impacted our revenues not only in these two countries but the United States too , as we experienced an acute shortage of personnel to execute business in hand . Our bank interest costs sequentially were higher by $ 3.3 million in Q2 2021 on lower bank debt than in Q1 2021. We had to restore software developer salaries back from the cuts we had put in place last year , while COVID - 19 continued to impact our business . " Robin Raina , President & CEO , Ebix Inc. said , " Considering that , I am pleased that we still delivered a quarter with $ 246.3 million of revenues and $ 27.3 million of operating income . This speaks to the fundamental resilience of our business . " Ebix delivered the following results for the second quarter of 2021 : Revenue : Q2 2021 revenue increased 121 % to $ 246.3 million compared to $ 111.3 million in Q2 2020. Excluding revenues from the foreign exchange , travel , e - learning , and remittance businesses that have been impacted the most by COVID - 19 , Q2 2021 revenues grew 125 % as compared to Q2 2020 . Out of 11 P & L geographies worldwide , revenues grew in nine regions by double digits or more , while declining in two regions . Despite COVID - 19 , insurance revenues outside the U.S. grew by a healthy 16 % ar over year to $ 19.1 million in the quarter , offset by a 10 % year - over - year decline in the U.S .. Sequentially , U.S. insurance revenues were essentially flat as compared to Q1 2021. International revenues increased 200 % year over year . Exchanges , including the EbixCash and our worldwide insurance exchanges , continued to be Ebix's largest channel , accounting for 94 % of Q2 2021 revenues . ( dollar amounts in thousands ) Channel EbixCash Exchanges Insurance Exchanges RCS Total Revenue Total Revenue on Constant Currency Basis 1 Exhibit 99.1 Q2 2021 $ 189,947 41,916 14,459 $ 246,322 $ 240,003 Q2 2020 $ 53,240 42,959 15,113 $ 111,312 $ 111,312 Change + 257 % -2 % -4 % + 121 % + 116 %