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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
[1]
Sep. 30, 2022
[1]
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Operating revenue $ 119,228 $ 257,904 $ 480,419 $ 794,938
Operating expenses:        
Cost of services provided 32,658 174,265 222,894 554,438
Product development 11,020 10,483 31,950 30,964
Sales and marketing 4,996 3,973 11,909 12,249
General and administrative, net 43,869 34,400 117,446 93,049
Amortization and depreciation 6,152 4,422 16,061 13,660
Total operating expenses 98,695 227,543 400,260 704,360
Operating income 20,533 30,361 80,159 90,578
Interest income 53 68 186 196
Interest expense (28,175) (15,467) (75,052) (37,382)
Non-operating (loss) income (605) (438) (971) (1,580)
Non-operating expense-debt restructuring expenses (4,430) 0 (8,041) 0
Foreign currency exchange gain (loss) 2,409 4,928 349 9,051
Income before income taxes (10,215) 19,452 (3,370) 60,863
Income tax (expense) benefit (514) (1,926) (1,301) (6,108)
Net income including noncontrolling interest (10,729) 17,526 (4,671) 54,755
Net loss attributable to noncontrolling interest (433) (724) (1,756) (2,029)
Net income attributable to Ebix, Inc. $ (10,296) $ 18,250 $ (2,915) $ 56,784
Basic earnings per common share attributable to Ebix, Inc. (in dollars per share) $ (0.33) $ 0.59 $ (0.09) $ 1.85
Diluted earnings per common share attributable to Ebix, Inc. (in dollars per share) $ (0.33) $ 0.59 $ (0.09) $ 1.85
Basic weighted average shares outstanding (in shares) 30,866 30,777 30,854 30,745
Diluted weighted average shares outstanding (in shares) 30,877 30,783 30,861 30,748
[1] Beginning April 1, 2023 Prepaid card revenues are presented on a net basis (based on contractual changes as further described in the “Ebix Cash Exchanges Gift Cards” Section) while periods preceding April 1, 2023 reflect prepaid card revenues on a gross basis. Please see (non- GAAP financials) table with both periods recast on a net basis, for comparison purposes under heading "Condensed Consolidated Statements of Income prepared on Net Basis for Comparative Purposes Only (Non GAAP)".