| |
|
|
| |
December 31, |
| |
2022 |
2021 |
| |
(In thousands, except share and per share amounts) |
| ASSETS |
|
|
| Current assets: |
|
|
| Cash and cash equivalents |
$ 110,637 |
$ 99,625 |
| Receivables from service providers |
4,223 |
1,352 |
| Short-term investments |
17,438 |
16,463 |
| Restricted cash |
8,210 |
9,080 |
| Fiduciary funds - restricted |
2,092 |
2,046 |
| Trade accounts receivable, less allowances of $18,167 and $19,874, respectively |
154,533 |
153,609 |
| Other current assets |
87,387 |
84,389 |
| Total current assets |
384,520 |
366,564 |
| Property and equipment, net |
52,448 |
47,903 |
| Right-of-use assets |
9,636 |
10,051 |
| Goodwill |
881,676 |
939,249 |
| Intangibles, net |
50,900 |
59,748 |
| Indefinite-lived intangibles |
16,647 |
16,647 |
| Capitalized software development costs, net |
15,343 |
15,068 |
| Deferred tax assets, net |
96,289 |
84,514 |
| Other assets |
30,096 |
33,505 |
| Total assets |
$ 1,537,555 |
$ 1,573,249 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
| Current liabilities: |
|
|
| Accounts payable and accrued liabilities |
$ 99,194 |
$ 86,181 |
| Payables to service agents |
11,299 |
6,296 |
| Accrued payroll and related benefits |
10,651 |
11,360 |
| Working capital facilities |
3,367 |
5,607 |
| Fiduciary funds - restricted |
2,092 |
2,046 |
| Revolving line of credit |
449,902 |
— |
| Short-term debt |
3,000 |
1,954 |
| Current portion of long-term debt, net of deferred financing costs of $469 and $1,635, respectively |
190,866 |
28,577 |
| Contract liabilities |
32,028 |
33,164 |
| Lease liability |
3,354 |
3,173 |
| Other current liabilities |
25,784 |
26,837 |
| Total current liabilities |
831,537 |
205,195 |
| Revolving line of credit |
— |
439,402 |
| Long-term debt, less current portion, net of deferred financing costs of $— and $261, respectively |
160 |
184,676 |
| Contingent liability for earn-out acquisition consideration |
2,299 |
2,557 |
| Contract liabilities |
14,098 |
8,193 |
| Lease liability |
6,612 |
7,139 |
| Deferred tax liability, net |
1,150 |
1,150 |
| Other liabilities |
22,259 |
25,383 |
| Total liabilities |
878,115 |
873,695 |
| |
|
|
| Stockholders’ equity: |
|
|
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at December 31, 2022 and 2021 |
— |
— |
| Series Y Convertible preferred stock, $0.10 par value, 350,000 shares authorized, no shares issued and outstanding at December 31, 2022 and 2021 |
— |
— |
| Common stock, $0.10 par value, 220,000,000 shares authorized, 30,819,533 issued and outstanding at December 31, 2022 and 30,683,393 issued and outstanding at December 31, 2021 |
3,082 |
3,068 |
| Additional paid-in capital |
18,800 |
15,068 |
| Retained earnings |
814,780 |
759,208 |
| Accumulated other comprehensive loss |
(219,437) |
(122,022) |
| Total Ebix, Inc. stockholders’ equity |
617,225 |
655,322 |
| Noncontrolling interest |
42,215 |
44,232 |
| Total stockholders' equity |
659,440 |
699,554 |
| Total liabilities and stockholders’ equity |
$ 1,537,555 |
$ 1,573,249 |
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