| |
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 |
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