EBIX - EBIX trades low despite setting new revenue record for Q1

EBIX ([[EBIX]] -4.6%) reports FQ1 record revenue of $290M na increase of 110% compared to last year same quarter, beats consensus by $83.6M.Cash generated from operations in Q1 2021 was $8.6M, as compared to $29.6M in Q1 2020.Q1 2021 GAAP net income decreased 13% to $21.6M compared to $24.7M in Q1 2020.Q1 Non-GAAP EPS of $0.84 beats consensus by $0.03; GAAP EPS of $0.70 misses consensus by $0.11.Ebix Chairman, President and CEO Robin Raina said, “Our first quarter revenues and operating income are traditionally lower than the fourth quarter of the preceding year, primarily because of our Continuing Medical Education business having a seasonal increase in the fourth quarter. Q1 2021 was no different with CME revenues decreasing by approximately $4M, as compared to Q4 2020. In spite of that headwind and the increased effect of COVID-19 in Q1 2021 on many of our businesses, we still managed to grow our overall revenues 31% sequentially

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EBIX trades low despite setting new revenue record for Q1