Financial Statement

Ebix, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
  Six Months Ended
  June 30,
  2022 2021
Cash flows from operating activities:    
Net income attributable to Ebix, Inc. $38,534             $37,312            
Net loss attributable to noncontrolling interest (1,305) (1,076)
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and depreciation 9,238              7,785             
Provision (benefit) for deferred taxes (24,354) (3,175)
Share-based compensation 1,934              2,717             
(Benefit) provision for doubtful accounts 1,702              (2,815)
Amortization of right-of-use assets 1,765              2,507             
Amortization of capitalized software development costs 1,511              1,647             
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable (16,223) 2,025             
Receivables from service providers (2,194) (8,592)
Payables to service agents 1,174              (1,154)
Other assets (9,826) 10,489)
Accounts payable and accrued expenses 8,525              (9,469)
Accrued payroll and related benefits 1,004              (1,318)
Contract liabilities 8,766              2,182             
Lease liabilities (1,670) (264)
Reserve for potential uncertain income tax return positions — 334
Other liabilities 2,863              3,503             
Net cash provided by operating activities 21,444             21,660            
     
Cash flows from investing activities:    
Capitalized software development costs (4,170) (3,106)
Maturities (purchases) of unrestricted marketable securities, net (3,214) 11,250            
Capital expenditures (9,607) (1,705)
Net cash (used in) provided by investing activities (16,991) 6,439             
     
Cash flows from financing activities:    
Principal payments of term loan obligation (15,933) (31,297)
Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested (64) (119)
Dividend payments (4,636) (4,642)
Payments of debt obligations, net (1,672) (149)
Payments of working capital facility, net (1,704) (6,886)
Payments of financing lease obligations, net (106) (48)
Net cash used in financing activities (24,115) (43,141)
Effect of foreign exchange rates on cash (11,767) (4,806)
Net change in cash and cash equivalents, and restricted cash (31,429) (19,848)
Cash and cash equivalents, and restricted cash at the beginning of the period 114,764           120,213          
Cash and cash equivalents, and restricted cash at the end of the period $83,335             $100,365          
Supplemental disclosures of cash flow information:    
Interest paid $19,088             $14,065            
Income taxes paid $24,222             $12,073            
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EBIX Inc
1 Ebix Way, Johns Creek, Georgia 30097
Ph: 678-281-2027 Fax: 678-281-2019

IR@ebix.com

David Collins, Tanya Kamatu, Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com

Ebix Named in Fortune’s 2017 100 Fastest-Growing Companies

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