Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
2018 |
2017 |
|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $134,987 | $63,895 |
| Short-term investments | 20,481 | 25,592 |
| Restricted cash | — | 4,040 |
| Fiduciary funds- restricted | 7,254 | 8,035 |
| Trade accounts receivable, less allowances of $6,382 and $4,143, respectively | 153,171 | 117,838 |
| Other current assets | 32,799 | 33,532 |
| Total current assets | 348,692 | 252,932 |
| Property and equipment, net | 45,648 | 41,704 |
| Goodwill | 870,311 | 666,863 |
| Intangibles, net | 36,948 | 45,711 |
| Indefinite-lived intangibles | 42,055 | 42,055 |
| Capitalized software development costs, net | 10,039 | 8,499 |
| Deferred tax asset, net | 44,656 | 43,529 |
| Other assets | 30,546 | 11,720 |
| Total assets | $1,428,895 | $1,113,013 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $109,458 | $75,073 |
| Accrued payroll and related benefits | 9,801 | 8,201 |
| Cash overdraft | 8,703 | 9,243 |
| Fiduciary funds- restricted | 7,254 | 8,035 |
| Short term debt, net of deferred financing costs of $449 and $136, respectively | 13,825 | 14,364 |
| Capital lease obligations | 100 | 17 |
| Deferred rent | 121 | 278 |
| Contingent liability for accrued earn-out acquisition consideration | 14,202 | 4,000 |
| Deferred revenue | 30,174 | 22,562 |
| Other current liabilities | 29,274 | 5,159 |
| Total current liabilities | 222,912 | 146,932 |
| Revolving line of credit | 399,694 | 274,529 |
| Long term debt and capital lease obligations, less current portion, net of deferred financing costs of $1,523 and $298, respectively | 229,982 | 110,978 |
| Other liabilities | 11,158 | 11,658 |
| Contingent liability for accrued earn-out acquisition consideration | 15,083 | 33,096 |
| Deferred revenue | 8,153 | 1,423 |
| Deferred rent | 323 | 638 |
| Total liabilities | 887,305 | 579,254 |
| Commitments and Contingencies | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at September 30, 2018 and December 31, 2017 | — | — |
| Common stock, $0.10 par value, 120,000,000 shares authorized, 31,501,029 issued and outstanding, at September 30, 2018, and 120,000,000 shares authorized, 31,476,428 issued and outstanding at December 31, 2017 | 3,150 | 3,148 |
| Additional paid-in capital | 1,414 | 1,410 |
| Retained earnings | 577,353 | 510,975 |
| Accumulated other comprehensive loss | (85,833) | (24,023) |
| Total Ebix, Inc. stockholders’ equity | 496,084 | 491,510 |
| Non-controlling interest | 45,506 | 42,249 |
| Total stockholders' equity | 541,590 | 533,759 |
| Total liabilities and stockholders’ equity | $1,428,895 | $1,113,013 |
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