June 30, 2022 |
December 31, 2021 |
|
ASSETS | (Unaudited) | |
Current assets: | ||
Cash and cash equivalents | $67,511 | $99,625 |
Receivables from service providers | 3,546 | 1,352 |
Short-term investments | 19,767 | 16,463 |
Restricted cash | 9,415 | 9,080 |
Fiduciary funds - restricted | 1,782 | 2,046 |
Trade accounts receivable, less allowances of $20,312 and $19,874, respectively | 161,099 | 153,609 |
Other current assets | 91,527 | 84,389 |
Total current assets | 354,647 | 366,564 |
Property and equipment, net | 58,405 | 54,359 |
Right-of-use assets | 9,753 | 10,051 |
Goodwill | 906,807 | 939,249 |
Intangibles, net | 40,873 | 46,795 |
Indefinite-lived intangibles | 16,647 | 16,647 |
Capitalized software development costs, net | 23,404 | 21,565 |
Deferred tax asset, net | 105,389 | 84,514 |
Other assets | 31,519 | 33,505 |
Total assets | $1,547,444 | $1,573,249 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Current liabilities: | ||
Accounts payable and accrued liabilities | $90,551 | $86,181 |
Payables to service agents | 7,470 | 6,296 |
Accrued payroll and related benefits | 11,991 | 11,360 |
Working capital facility | 3,696 | 5,607 |
Fiduciary funds - restricted | 1,782 | 2,046 |
Revolving line of credit | 439,402 | — |
Short-term debt | 281 | 1,954 |
Current portion of long term debt and financing lease obligations, net of deferred financing costs of $1,910 and $1,635, respectively | 196,975 | 28,577 |
Contract liabilities | 39,918 | 33,164 |
Lease liability | 3,361 | 3,173 |
Other current liabilities | 32,276 | 26,837 |
Total current liabilities | 827,703 | 205,195 |
Revolving line of credit | — | 439,402 |
Long term debt and financing lease obligations, less current portion, net of deferred financing costs of $0 and $261, respectively | 227 | 184,676 |
Contingent liability for accrued earn-out acquisition consideration | 2,412 | 2,557 |
Contract liabilities | 9,033 | 8,193 |
Lease liability | 6,720 | 7,139 |
Deferred tax liability, net | 1,150 | 1,150 |
Other liabilities | 20,809 | 25,383 |
Total liabilities | 868,054 | 873,695 |
Stockholders’equity: | ||
Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at June 30, 2022 and December 31, 2021 | — | — |
Series Y Convertible preferred stock, $0.10 par value, 350,000 shares authorized, no shares issued and outstanding at June 30, 2022 and December 31,2021 | — | — |
Common stock, $0.10 par value, 220,000,000 shares authorized, 30,755,500 issued and outstanding, at June 30, 2022, and 30,683,393 issued and outstanding at December 31, 2021 | 3,075 | 3,068 |
Additional paid-in capital | 16,931 | 15,068 |
Retained earnings | 793,106 | 759,208 |
Accumulated other comprehensive loss | (176,649) | (122,022) |
Total Ebix, Inc. stockholders’ equity | 636,463 | 655,322 |
Noncontrolling interest | 42,927 | 44,232 |
Total stockholders’ equity | 679,390 | 699,554 |
Total liabilities and stockholders’ equity | $1,547,444 | $1,573,249 |