Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| 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 |
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