Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| June 30 2018 |
December 31 2017 |
|
| ASSETS | (Unaudited) | |
| Current assets: | ||
| Cash and cash equivalents | $113,410 | $63,895 |
| Short-term investments | 21,262 | 25,592 |
| Restricted cash | 3,992 | 4,040 |
| Fiduciary funds- restricted | 8,043 | 8,035 |
| Trade accounts receivable, less allowances of $6,069 and $4,143, respectively | 148,317 | 117,838 |
| Other current assets | 33,205 | 33,532 |
| Total current assets | 328,229 | 252,932 |
| Property and equipment, net | 41,061 | 41,704 |
| Goodwill | 825,526 | 666,863 |
| Intangibles, net | 42,042 | 45,711 |
| Indefinite-lived intangibles | 42,055 | 42,055 |
| Capitalized software development costs, net | 9,135 | 8,499 |
| Deferred tax asset, net | 46,819 | 43,529 |
| Other assets | 22,710 | 11,720 |
| Total assets | $1,357,577 | $1,113,013 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $97,985 | $75,073 |
| Accrued payroll and related benefits | 8,345 | 8,201 |
| Cash overdraft | 4,283 | 9,243 |
| Fiduciary funds- restricted | 8,043 | 8,035 |
| Short term debt, net of deferred financing costs of $449 and $136, respectively | 13,824 | 14,364 |
| Capital lease obligations | 113 | 17 |
| Deferred rent | 170 | 278 |
| Contingent liability for accrued earn-out acquisition consideration | 16,392 | 4,000 |
| Deferred revenue | 31,011 | 22,562 |
| Other current liabilities | 13,911 | 5,159 |
| Total current liabilities | 194,077 | 146,932 |
| Revolving line of credit | 358,694 | 274,529 |
| Long term debt and capital lease obligations, less current portion, net of deferred financing costs of $1,636 and $298, respectively | 232,950 | 110,978 |
| Other liabilities | 11,230 | 11,658 |
| Contingent liability for accrued earn-out acquisition consideration | 5,216 | 33,096 |
| Deferred revenue | 7,152 | 1,423 |
| Deferred rent | 356 | 638 |
| Total liabilities | 809,675 | 579,254 |
| Commitments and Contingencies | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at June 30, 2018 and December 31, 2017 | — | — |
| Common stock, $0.10 par value, 120,000,000 shares authorized, 31,458,976 issued and outstanding, at June 30, 2018, 2017 and 120,000,000 shares authorized, 31,473,654 issued and outstanding at December 31, 2017 | 3,146 | 3,148 |
| Additional paid-in capital | 734 | 1,410 |
| Retained earnings | 550,480 | 510,975 |
| Accumulated other comprehensive loss | (54,960) | (24,023) |
| Total Ebix, Inc. stockholders’ equity | 499,400 | 491,510 |
| Noncontrolling interest | 48,502 | 42,249 |
| Total stockholders' equity | 547,902 | 533,759 |
| Total liabilities and stockholders’ equity | $1,357,577 | $1,113,013 |
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