Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| September30, 2022 |
December 31, 2021 |
|
| ASSETS | (Unaudited) | |
| Current assets: | ||
| Cash and cash equivalents | $ 70,977 | $ 99,625 |
| Receivables from service providers | 1,456 | 1,352 |
| Short-term investments | 19,705 | 16,463 |
| Restricted cash | 7,990 | 9,080 |
| Fiduciary funds - restricted | 2,031 | 2,046 |
| Trade accounts receivable, less allowances of $18,772 and $19,874, respectively | 156,110 | 153,609 |
| Other current assets | 78,007 | 84,389 |
| Total current assets | 336,276 | 366,564 |
| Property and equipment, net | 58,439 | 54,359 |
| Right-of-use assets | 9,583 | 10,051 |
| Goodwill | 887,302 | 939,249 |
| Intangibles, net | 38,025 | 46,795 |
| Indefinite-lived intangibles | 16,647 | 16,647 |
| Capitalized software development costs, net | 23,690 | 21,565 |
| Deferred tax asset, net | 104,299 | 84,514 |
| Other assets | 30,677 | 33,505 |
| Total assets | $ 1,504,938 | $1,573,249 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $ 75,691 | $ 86,181 |
| Payables to service agents | 13,626 | 6,296 |
| Accrued payroll and related benefits | 9,864 | 11,360 |
| Working capital facility | 6,052 | 5,607 |
| Fiduciary funds - restricted | 2,031 | 2,046 |
| Revolving line of credit | 439,401 | — |
| Short-term debt | — | 1,954 |
| Current portion of long term debt and financing lease obligations, net of deferred financing costs of $1,189 and $1,635, respectively | 190,155 | 28,577 |
| Contract liabilities | 33,134 | 33,164 |
| Lease liability | 3,313 | 3,173 |
| Other current liabilities | 32,060 | 26,837 |
| Total current liabilities | 805,327 | 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 | 194 | 184,676 |
| Contingent liability for accrued earn-out acquisition consideration | 2,332 | 2,557 |
| Contract liabilities | 8,498 | 8,193 |
| Lease liability | 6,571 | 7,139 |
| Deferred tax liability, net | 1,150 | 1,150 |
| Other liabilities | 20,840 | 25,383 |
| Total liabilities | 844,912 | 873,695 |
| Stockholders’ equity: | ||
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at September 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 September 30, 2022 and December 31, 2021 | — | — |
| Common stock, $0.10 par value, 220,000,000 shares authorized, 30,787,595 issued and outstanding, at September 30, 2022, and 30,683,393 issued and outstanding at December 31, 2021 | 3,079 | 3,068 |
| Additional paid-in capital | 17,855 | 15,068 |
| Retained earnings | 809,037 | 759,208 |
| Accumulated other comprehensive loss | (212,148) | (122,022) |
| Total Ebix, Inc. stockholders’ equity | 617,823 | 655,322 |
| Noncontrolling interest | 42,203 | 44,232 |
| Total stockholders’ equity | 660,026 | 699,554 |
| Total liabilities and stockholders’ equity | $ 1,504,938 | $ 1,573,249 |
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