Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
|
December 31, 2018 (Unaudited) |
December 31, 2017 (Audited) |
|
| (In thousands, except share and per share amounts) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $147,766 | $63,895 |
| Short-term investments | 31,192 | 25,592 |
| Restricted cash | 8,317 | 4,040 |
| Fiduciary funds- restricted | 6,491 | 8,035 |
| Trade accounts receivable, less allowances of $6,969 and $4,143, respectively | 174,340 | 117,838 |
| Other current assets | 59,274 | 33,532 |
| Total current assets | 427,380 | 252,932 |
| Property and equipment, net | 50,294 | 41,704 |
| Goodwill | 946,685 | 666,863 |
| Intangibles, net | 51,448 | 45,711 |
| Indefinite-lived intangibles | 42,055 | 42,055 |
| Capitalized software development costs, net | 11,742 | 8,499 |
| Deferred tax asset, net | 54,629 | 43,529 |
| Other assets | 26,714 | 11,720 |
| Total assets | $1,610,947 | $1,113,013 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $130,221 | $75,073 |
| Accrued payroll and related benefits | 9,227 | 8,201 |
| Cash overdraft | 17,841 | 9,243 |
| Fiduciary funds- restricted | 6,491 | 8,035 |
| Short term debt | 3,990 | — |
| Contingent liability for accrued earn-out acquisition consideration | 13,767 | 4,000 |
| Current portion of long term debt and capital lease obligation, net of deferred financing costs of $575 and $136, respectively | 14,603 | 14,381 |
| Deferred revenue | 35,609 | 22,562 |
| Current deferred rent | 98 | 278 |
| Other current liabilities | 85,581 | 5,159 |
| Total current liabilities | 317,428 | 146,932 |
| Revolving line of credit | 424,537 | 274,529 |
| Long term debt and capital lease obligation, less current portion, net of deferred financing costs of $1,811 and $298, respectively | 274,716 | 110,978 |
| Contingent liability for accrued earn-out acquisition consideration | 11,209 | 33,096 |
| Deferred revenue | 9,051 | 1,423 |
| Long term deferred rent | 438 | 638 |
| Deferred tax asset, net | 1,282 | — |
| Other liabilities | 27,849 | 11,658 |
| Total liabilities | 1,066,510 | 579,254 |
| Commitments and Contingencies | ||
| Stockholders’ equity: | ||
| Convertible Series D Preferred stock, $.10 par value, 500,000 shares authorized, no shares issued and outstanding at December 31, 2018 and 2017 | — | — |
| Common stock, $.10 par value, 120,000,000 shares authorized, 30,567,725 issued and outstanding at December 31, 2018 and 31,476,428 issued and outstanding at December 31, 2017 | 3,057 | 3,148 |
| Additional paid-in capital | 3,397 | 1,410 |
| Retained earnings | 535,118 | 510,975 |
| Accumulated other comprehensive loss | (63,377 | (24,023 |
| Total Ebix, Inc. stockholders’ equity | 478,195 | 491,510 |
| Noncontrolling interest | 66,242 | 42,249 |
| Total stockholders' equity | $544,437 | $533,759 |
| Total liabilities and stockholders’ equity | $1,610,947 | $1,113,013 |
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