Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| September 30, 2021 |
December 31, 2020 |
|
| ASSETS | (Unaudited) | |
| Current assets: | ||
| Cash and cash equivalents | $ 87,671 | $ 105,035 |
| Receivables from service providers | 16,082 | 4,711 |
| Short-term investments | 13,342 | 25,019 |
| Restricted cash | 8,817 | 8,519 |
| Fiduciary funds - restricted | 1,507 | 4,106 |
| Trade accounts receivable, less allowances of $19,489 and $22,691, respectively | 146,623 | 142,847 |
| Other current assets | 81,429 | 71,661 |
| Total current assets | 355,471 | 361,898 |
| Property and equipment, net | 54,076 | 52,521 |
| Right-of-use assets | 10,984 | 12,372 |
| Goodwill | 940,600 | 949,037 |
| Intangibles, net | 49,312 | 50,880 |
| Indefinite-lived intangibles | 16,647 | 21,647 |
| Capitalized software development costs, net | 21,272 | 19,389 |
| Deferred tax asset, net | 66,508 | 63,402 |
| Other assets | 34,962 | 38,707 |
| Total assets | $ 1,549,832 | $ 1,569,853 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $ 62,265 | $ 64,764 |
| Payables to service agents | 7,921 | 5,281 |
| Accrued payroll and related benefits | 8,607 | 11,792 |
| Working capital facility | 7,991 | 16,643 |
| Fiduciary funds - restricted | 1,507 | 4,106 |
| Short-term debt | 674 | 894 |
| Current portion of long term debt and financing lease obligations, net of deferred financing costs of $1,635 and $920, respectively | 26,701 | 23,621 |
| Contract liabilities | 32,261 | 32,898 |
| Lease liability | 3,172 | 3,905 |
| Other current liabilities | 28,909 | 27,486 |
| Total current liabilities | 180,008 | 191,390 |
| Revolving line of credit | 439,402 | 439,402 |
| Long term debt and financing lease obligations, less current portion, net of deferred financing costs of $671 and $1,062, respectively | 191,788 | 232,140 |
| Contingent liability for accrued earn-out acquisition consideration | 2,563 | — |
| Contract liabilities | 8,141 | 8,033 |
| Lease liability | 8,011 | 8,540 |
| Deferred tax liability, net | 1,358 | 1,235 |
| Other liabilities | 26,857 | 29,009 |
| Total liabilities | 858,128 | 909,749 |
| Stockholders’ equity: | ||
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at September 30, 2021 and December 31, 2020 | — | — |
| Series Y Convertible preferred stock, $0.10 par value, 350,000 shares authorized, no shares issued and outstanding at September 30, 2021 and December 31, 2020 | — | — |
| Common stock, $0.10 par value, 220,000,000 shares authorized, 30,684,387 issued and outstanding, at September 30, 2021, and 30,515,334 issued and outstanding at December 31, 2020 | 3,068 | 3,052 |
| Additional paid-in capital | 14,994 | 11,126 |
| Retained earnings | 746,104 | 700,304 |
| Accumulated other comprehensive loss | (118,083 | (101,503 |
| Total Ebix, Inc. stockholders’ equity | 646,083 | 612,979 |
| Noncontrolling interest | 45,621 | 47,125 |
| Total stockholders’ equity | 691,704 | 660,104 |
| Total liabilities and stockholders’ equity | $ 1,549,832 | $ 1,569,853 |
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