Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets

(In thousands, except share amounts)
  March 31, December 31,
 2023  2022
ASSETS (Unaudited)  
Current assets:    
Cash and cash equivalents $77,559 $110,637
Receivables from service providers 307 4,223
Short-term investments 17,111 17,438
Restricted cash 8,453 8,210
Fiduciary funds - restricted 2,157 2,092
Trade accounts receivable, less allowances of $18,078 and $18,167, respectively 160,707 154,533
Other current assets 107,578 87,387
Total current assets 373,872 384,520
     
Property and equipment, net 53,540 52,448
Right-of-use assets 9,509 9,636
Goodwill 885,470 881,676
Intangibles, net 49,241 50,900
Indefinite-lived intangibles 16,647 16,647
Capitalized software development costs, net 16,324 15,342
Deferred tax asset, net 105,822 96,290
Other assets 31,125 30,096
Total assets $1,541,550 $1,537,555
     
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Current liabilities:    
Accounts payable and accrued liabilities $106,924 $99,194
Payables to service agents 11,020 11,299
Accrued payroll and related benefits 10,053 10,652
Working capital facility 277 3,367
Fiduciary funds - restricted 2,157 2,092
Revolving line of credit 444,902 449,902
Short-term debt 1,039 3,000
Current portion of long term debt and financing lease obligations, net of deferred financing costs of $1,189 and $1,635, respectively 170,514 190,866
Contract liabilities 47,440 32,028
Lease liability 3,307 3,354
Other current liabilities 26,023 25,783
Total current liabilities 823,656 831,537
   
Revolving line of credit  
Long term debt and financing lease obligations, less current portion, net of deferred financing costs of $0 and $261, respectively 122 160
Contingent liability for accrued earn-out acquisition consideration 2,313 2,298
Contract liabilities 7,805 14,098
Lease liability 6,545 6,612
Deferred tax liability, net 1,150 1,150
Other liabilities 26,053 22,259
Total liabilities 867,644 878,114
     
     
Stockholders’ equity:    
Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at March 31, 2023 and December 31, 2022
Series Y Convertible preferred stock, $0.10 par value, 350,000 shares authorized, no shares issued and outstanding at March 31, 2023 and December 31, 2022
Common stock, $0.10 par value, 220,000,000 shares authorized, 30,851,314 issued and outstanding, at March 31, 2023, and 30,683,393 issued and outstanding at December 31, 2022 3,085 3,082
Additional paid-in capital 19,417 18,801
Retained earnings 821,854 814,781
Accumulated other comprehensive loss (211,719) (219,439)
Total Ebix, Inc. stockholders’ equity 632,637 617,225
Noncontrolling interest 41,269 42,215
Total stockholders’ equity 673,906 659,440
Total liabilities and stockholders’ equity $1,541,550 $1,537,554

Investor Contacts

EBIX Inc
1 Ebix Way, Johns Creek, Georgia 30097
Ph: 678-281-2027 Fax: 678-281-2019

IR@ebix.com

David Collins, Tanya Kamatu, Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com