EBIX Ebix Inc

Cost of services provided

$ 119,228

$ 257,904

$ 480,419

$ 794,938

Operating expenses:

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

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)

(8,041)

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)

(10,729)

17,526

(4,671)

54,755

(433)

(724)

(1,756)

(2,029)

Basic earnings per common share attributable to Ebix, Inc. (in dollars per share)

$ (10,296)

$ 18,250

$ (2,915)

$ 56,784

$ (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)".

Condensed Consolidated Statements of Income prepared on Net Basis for Comparative Purposes Only (Non GAAP) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Cost of services provided

$ 119,228

^[1]

$ 257,904

^[1]

$ 480,419

$ 794,938

Operating expenses:

32,658

^[1]

174,265

^[1]

222,894

554,438

Product development

11,020

^[1]

10,483

^[1]

31,950

30,964

Sales and marketing

4,996

^[1]

3,973

^[1]

11,909

12,249

General and administrative, net

43,869

^[1]

34,400

^[1]

117,446

93,049

Amortization and depreciation

6,152

^[1]

4,422

^[1]

16,061

13,660

Total operating expenses

98,695

^[1]

227,543

^[1]

400,260

704,360

Operating income

20,533

^[1]

30,361

^[1]

80,159

90,578

Interest income

^[1]

186

196

Interest expense

(28,175)

^[1]

(15,467)

^[1]

(75,052)

(37,382)

Non-operating (loss) income

(605)

^[1]

(438)

^[1]

(971)

(1,580)

Non-operating expense-debt restructuring expenses

(4,430)

^[1]

(8,041)

Foreign currency exchange gain (loss)

2,409

^[1]

4,928

^[1]

349

9,051

Income before income taxes

(10,215)

^[1]

19,452

^[1]

(3,370)

60,863

Income tax (expense) benefit

(514)

^[1]

(1,926)

^[1]

(1,301)

(6,108)

(10,729)

^[1]

17,526

^[1]

(4,671)

54,755

(433)

^[1]

(724)

^[1]

(1,756)

(2,029)

Basic earnings per common share attributable to Ebix, Inc. (in dollars per share)

$ (10,296)

^[1]

$ 18,250

^[1]

$ (2,915)

$ 56,784

$ (0.33)

^[1]

$ 0.59

^[1]

$ (0.09)

$ 1.85

Diluted earnings per common share (in dollars per share)

$ (0.33)

^[1]

$ 0.59

^[1]

$ (0.09)

$ 1.85

Basic weighted average shares outstanding (in shares)

30,866

^[1]

30,777

^[1]

30,854

30,745

Diluted weighted average shares outstanding (in shares)

30,877

^[1]

30,783

^[1]

30,861

30,748

Net Basis

Cost of services provided

$ 119,228

$ 120,499

$ 353,731

$ 334,942

Operating expenses:

32,658

36,860

96,207

94,442

Product development

11,020

10,483

31,951

30,964

Sales and marketing

4,996

3,973

11,909

12,249

General and administrative, net

43,869

34,400

117,445

93,049

Amortization and depreciation

6,152

4,422

16,060

13,660

Total operating expenses

98,695

90,138

273,572

244,364

Operating income

20,533

30,361

80,159

90,578

Interest income

186

196

Interest expense

(28,175)

(15,467)

(75,054)

(37,382)

Non-operating (loss) income

(605)

(439)

(971)

(1,580)

Non-operating expense-debt restructuring expenses

(4,430)

(8,041)

Foreign currency exchange gain (loss)

2,409

4,928

349

9,051

Income before income taxes

(10,215)

19,451

(3,372)

60,863

Income tax (expense) benefit

(514)

(1,926)

(1,301)

(6,108)

(10,729)

17,525

(4,673)

54,755

(433)

(724)

(1,756)

(2,029)

Basic earnings per common share attributable to Ebix, Inc. (in dollars per share)

$ (10,296)

$ 18,249

$ (2,917)

$ 56,784

$ (0.33)

$ 0.59

$ (0.09)

$ 1.85

Diluted earnings per common share (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]

Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Statement of Comprehensive Income [Abstract]

Foreign currency translation adjustments

$ (10,729)

^[1]

$ 17,526

^[1]

$ (4,671)

$ 54,755

Other comprehensive income (loss):

(14,902)

(35,499)

(4,789)

(90,126)

Total other comprehensive income (loss)

(14,902)

(35,499)

(4,789)

(90,126)

Comprehensive income

(25,631)

(17,973)

(9,460)

(35,371)

Comprehensive loss attributable to noncontrolling interest

(433)

(724)

(1,756)

(2,029)

Comprehensive income attributable to Ebix, Inc.

$ (25,198)

$ (17,249)

$ (7,704)

$ (33,342)

[1]

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 71,162	$ 110,637
Receivables from service providers	8,523	4,223
Short-term investments	17,526	17,438
Restricted cash	10,465	8,210
Fiduciary funds - restricted	1,835	2,092
Trade accounts receivable, less allowances of $13,971 and $18,167, respectively	156,302	154,533
Other current assets	93,068	87,387
Total current assets	358,881	384,520
Property and equipment, net	53,154	52,448
Right-of-use assets	7,720	9,636
Goodwill	879,254	881,676
Intangibles, net	45,085	50,900
Indefinite-lived intangibles	16,647	16,647
Capitalized software development costs, net	16,184	15,342
Non Current Accounts receivable, less allowance	10,512	0
Deferred tax asset, net	123,887	96,290
Other assets	50,667	30,096
Total assets	1,561,991	1,537,555
Current liabilities:
Accounts payable and accrued liabilities	116,080	99,194
Payables to service agents	31,479	11,299
Accrued payroll and related benefits	16,537	10,651
Working capital facility	15,341	3,367
Fiduciary funds - restricted	1,835	2,092
Revolving line of credit	444,902	449,902
Short-term debt	991	3,000
Current portion of long term debt and financing lease obligations, net of deferred financing costs of $3,287 and $469, respectively	170,502	190,866
Contract liabilities	40,832	32,028
Lease liability	2,739	3,354
Other current liabilities	24,113	25,784
Total current liabilities	865,351	831,537
Revolving line of credit	0	0
Long term debt and financing lease obligations, less current portion, net of deferred financing costs of $0 and $0, respectively	47	160
Contingent liability for accrued earn-out acquisition consideration	2,285	2,299
Contract liabilities	7,261	14,098
Lease liability	5,287	6,612
Deferred tax liability, net	1,150	1,150
Other liabilities	29,066	22,259
Total liabilities	910,447	878,115
Stockholders’ equity:
Common stock, $0.10 par value, 220,000,000 shares authorized, 30,899,335 issued and outstanding, at September 30, 2023, and 30,819,533 issued and outstanding at December 31, 2022	3,090	3,082
Additional paid-in capital	20,355	18,800
Retained earnings	811,866	814,780
Accumulated other comprehensive loss	(224,226)	(219,437)
Total Ebix, Inc. stockholders’ equity	611,085	617,225
Noncontrolling interest	40,459	42,215
Total stockholders’ equity	651,544	659,440
Total liabilities and stockholders’ equity	1,561,991	1,537,555
Preferred Stock
Stockholders’ equity:
Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at September 30, 2023 and December 31, 2022	0	0
Series Y Convertible preferred stock
Stockholders’ equity:
Series Y Convertible preferred stock, $0.10 par value, 350,000 shares authorized, no shares issued and outstanding at September 30, 2023 and December 31, 2022	$ 0	$ 0

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 13,971	$ 18,167
Unamortized deferred financing costs, current	3,287	469
Unamortized deferred financing costs, noncurrent	$ 0	$ 0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	220,000,000	220,000,000
Common stock, shares issued (in shares)	30,899,335	30,819,533
Common stock, shares outstanding (in shares)	30,899,335	30,819,533
Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series Y Convertible preferred stock
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	350,000	350,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statement of Stockholders' Equity - USD ($)
$ in Thousands

Total

Common Stock

Additional Paid-in Capital

Retained Earnings

Accumulated Other Comprehensive Loss

Noncontrolling interest

Beginning balance (in shares) at Dec. 31, 2021

30,683,393

Beginning balance at Dec. 31, 2021

$ 699,554

$ 3,068

$ 15,068

$ 759,208

$ (122,022)

$ 44,232

Increase (Decrease) in Stockholders' Equity [Roll Forward]

56,784

(2,029)

(90,126)

108,116

$ 11

(11)

Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested (in shares)

$ 2,905

2,905

(3,914)

Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested

$ (107)

(107)

Ending balance (in shares) at Sep. 30, 2022

(6,955)

30,787,595

Ending balance at Sep. 30, 2022

660,026

$ 3,079

17,855

809,037

(212,148)

42,203

Beginning balance (in shares) at Jun. 30, 2022

30,755,500

Beginning balance at Jun. 30, 2022

679,390

$ 3,075

16,931

793,106

(176,649)

42,927

Increase (Decrease) in Stockholders' Equity [Roll Forward]

18,250

^[1]

18,250

(724)

^[1]

(724)

Repurchase and retirement of common stock (in shares)

(35,499)

Repurchase and retirement of common stock

$ 0

33,952

Exercise of stock options (in shares)

$ 4

(4)

Exercise of stock options

$ 0

Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested (in shares)

971

(1,857)

Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested

(43)

Noncontrolling interest

Ending balance (in shares) at Sep. 30, 2022

(2,319)

30,787,595

Ending balance at Sep. 30, 2022

660,026

$ 3,079

17,855

809,037

(212,148)

42,203

Beginning balance (in shares) at Dec. 31, 2022

30,819,533

Beginning balance at Dec. 31, 2022

659,440

$ 3,082

18,800

814,780

(219,437)

42,215

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(2,915)

(1,756)

(4,789)

82,084

$ 8

(8)

Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested (in shares)

$ 1,604

1,604

(2,282)

Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested

$ (42)

(42)

Ending balance (in shares) at Sep. 30, 2023

30,899,335

Ending balance at Sep. 30, 2023

651,544

$ 3,090

20,355

811,866

(224,226)

40,459

Beginning balance (in shares) at Jun. 30, 2023

30,877,258

Beginning balance at Jun. 30, 2023

676,859

$ 3,088

20,041

822,162

(209,324)

40,892

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(10,296)

^[1]

(10,296)

(433)

^[1]

(433)

(14,902)

22,077

$ 2

(2)

Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested (in shares)

316

Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested

Ending balance (in shares) at Sep. 30, 2023

30,899,335

Ending balance at Sep. 30, 2023

$ 651,544

$ 3,090

$ 20,355

$ 811,866

$ (224,226)

$ 40,459

[1]

Condensed Consolidated Statement of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Common stock dividends paid (in dollars per share)	$ 0.000	$ 0.075	$ 0.000	$ 0.075

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income attributable to Ebix, Inc.	$ (2,915)	$ 56,784
Net loss attributable to noncontrolling interest	(1,756)	(2,029)
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and depreciation	16,061	13,660
Provision (benefit) for deferred taxes	(28,130)	(25,361)
Share-based compensation	1,604	2,905
(Benefit) provision for doubtful accounts	3,104	1,687
Amortization of right-of-use assets	2,894	2,633
Amortization of capitalized software development costs	131	2,246
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable	(16,473)	(15,994)
Receivables from service providers	(4,300)	(104)
Payables to service agents	20,180	7,330
Other assets	(23,155)	1,577
Accounts payable and accrued expenses	25,901	(3,195)
Accrued payroll and related benefits	6,005	(736)
Contract liabilities	2,023	2,415
Lease liabilities	(2,944)	(2,532)
Reserve for potential uncertain income tax return positions	0	0
Other liabilities	5,200	3,807
Net cash provided by operating activities	3,430	45,093
Cash flows from investing activities:
Capitalized software development costs	(1,057)	(5,676)
Maturities (purchases) of unrestricted marketable securities, net	(507)	(4,518)
Capital expenditures	(11,076)	(12,671)
Net cash (used in) provided by investing activities	(12,640)	(22,865)
Cash flows from financing activities:
Prepayments related to Debt Refinancing	(6,341)	0
Proceeds from term loan	0	0
Principal payments of term loan obligation	(30,527)	(23,464)
Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested	(42)	(107)
Dividend payments	0	(6,954)
Payments of debt obligations, net	(1,997)	(1,953)
(Payments) of/Borrowings under working capital facility, net	12,018	868
Payments of financing lease obligations, net	(120)	(147)
Net cash used in financing activities	(27,009)	(31,757)
Effect of foreign exchange rates on cash	(1,644)	(21,252)
Net change in cash and cash equivalents, and restricted cash	(37,863)	(30,781)
Cash and cash equivalents, and restricted cash at the beginning of the period	124,959	114,764
Cash and cash equivalents, and restricted cash at the end of the period	87,096	83,983
Supplemental disclosures of cash flow information:
Interest paid	58,861	32,989
Income taxes paid	$ 31,123	$ 28,875

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Statement of Cash Flows [Abstract]
Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested (in shares)	2,282	3,914
Forfeiture of certain shares to satisfy exercise costs and the recipients' income tax obligations related to stock options exercised and restricted stock vested	$ 42	$ 107

Description of Business and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Description of Business and Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Reclassification — Certain prior year amounts have been reclassified to be consistent with current year presentation within our financial statements.



	As of
	September 30,
	2023		2022
	(In thousands)
Cash and cash equivalents	$	71,162	$	70,977
Restricted cash	10,465		7,990
Restricted cash included in other long-term assets	$	5,469	$	5,016
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$	87,096	$	83,983

•Level 1 Inputs - Unadjusted quoted prices available in active markets for identical investments to the reporting entity at the measurement date.

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

As of September 30, 2023, the Company had the following financial instruments to which it had to consider both fair values and make fair value assessments:

Additional information regarding the Company's assets and liabilities that are measured at fair value on a recurring basis is presented in the following tables:


	Fair Values at Reporting Date Using*
Descriptions	Balance, September 30, 2023		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets
Commercial bank certificates of deposits ($6.2 million is recorded in the long term asset section of the condensed consolidated balance sheets in "Other assets")	$	25,425	$	—	$	25,425	$	—
Mutual funds (recorded in the long term asset section of the condensed consolidated balance sheets in "Other assets")	115		115		—		—
Total assets measured at fair value	$	25,540	$	115	$	25,425	$	—

Liabilities


Contingent accrued earn-out acquisition consideration (a)	$	2,285	$	—	$	—	$	2,285
Total liabilities measured at fair value	$	2,285	$	—	$	—	$	2,285

(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected revenues and cash flows, rate of return, and probability assessments.
* During the nine months ended September 30, 2023, there were no transfers between fair value Levels 1, 2, or 3.


	Fair Values at Reporting Date Using*
Descriptions	Balance, December 31, 2022		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets
Commercial bank certificates of deposits ($6.4 million is recorded in the long term asset section of the condensed consolidated balance sheets in "Other assets")	$	37,434	$	—	$	37,434	$	—
Mutual funds	$	98	$	98	$	—	$	—
Total assets measured at fair value	$	37,532	$	98	$	37,434	$	—

Liabilities


Contingent accrued earn-out acquisition consideration (a)	$	2,299	$	—	$	—	$	2,299
Total liabilities measured at fair value	$	2,299	$	—	$	—	$	2,299

(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected revenues and cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2021, there were no transfers between fair value Levels 1, 2, or 3.


Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent Liability for Accrued Earn-out Acquisition Consideration	September 30, 2023		December 31, 2022
	(In thousands)

Beginning balance	$	2,298	$	2,557

Total remeasurement adjustments:

Remeasurement against goodwill	—		—
Foreign currency translation adjustments **	(13)		(259)

Acquisitions and settlements
Business settlements	—		—

Ending balance	$	2,285	$	2,298

The amount of total (gains) losses for the period included in earnings or changes to net assets, attributable to changes in unrealized gains relating to assets or liabilities still held at period-end.	$	—	$	—


** recorded as a component of other comprehensive income within stockholders' equity

Quantitative Information about Level 3 Fair Value Measurements

The significant unobservable inputs used in the fair value measurement of the Company's contingent consideration liabilities designated as Level 3 are as follows:

(In thousands)

Fair Value at September 30, 2023

Valuation Technique

Significant
Unobservable
Input

Contingent acquisition consideration:

$2,285

Discounted cash flow

Projected revenue and
probability of achievement

(In thousands)

Fair Value at December 31, 2022

Valuation Technique

Significant
Unobservable
Input

Contingent acquisition consideration:

$2,298

Discounted cash flow

Projected revenue and
probability of achievement

Sensitivity to Changes in Significant Unobservable Inputs

The Company determines revenue recognition by applying the following steps:

•identification of the contract, or contracts, with a customer;

•identification of the performance obligations in the contract;

•determination of the transaction price;

•allocation of the transaction price to the performance obligations in the contract; and

•recognition of revenue when, or as, we satisfy a performance obligation.

The Company assesses the terms of customer contracts, including termination rights, penalties (implied or explicit), and renewal rights.

EbixCash Exchanges

Gift Cards

EbixCash Travel Exchanges

EbixCash Money Transfer

Foreign Exchange and Outward Remittance Services

Consumer Payment Services

determinable. Certain biller agreements may include per-transaction or fixed periodic rebates, which EbixCash records as a reduction to revenue.

EbixCash Technology Services

Insurance Exchanges

Software-as-a-Service

Software Licenses

Software license revenues attributable to a software license that is a separate performance obligation are recognized at the point in time that the customer obtains control of the license.

Subscription Services

Transaction Fees

Professional Services

Risk Compliance Solutions ("RCS")

COI Creation and Tracking

Consulting Services

Disaggregation of Revenue

The following tables present revenue disaggregated by primary geographical regions and product/service channels for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,				Nine Months Ended September 30,
Revenue:	2023		2022		2023		2022
	(In thousands)
North America	38,067		38,934		114,657		118,605
International	81,161		218,970		365,762		676,333
	$	119,228	$	257,904	$	480,419	$	794,938

Geographical regions on net basis for comparative purposes (Non GAAP) for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,		Nine Months Ended September 30,
Revenue:	2023	2022	2023	2022
	(In thousands)
North America	38,067	38,934	114,657	118,605
International	81,161	81,565	239,074	216,337
	119,228	120,499	353,731	334,942

The Company’s revenues are derived from two product/service groups: (i) Exchanges and (ii) Risk Compliance Solutions.

Presented in the table below is the breakout of our revenue groups for each of those product/service channels for the three and nine months ended September 30, 2023 and 2022.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands)

Exchanges	99,291		237,396		419,235		736,255
Risk Compliance Solutions	19,937		20,508		61,184		58,683
Totals	$	119,228	$	257,904	$	480,419	$	794,938

Product/Services channels on net basis for Comparative purposes (Non GAAP) for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands)

Exchanges	99,291		99,991		292,547		276,259
Risk Compliance Solutions	19,937		20,508		61,184		58,683
Totals	$	119,228	$	120,499	$	353,731	$	334,942

Costs to Obtain and Fulfill a Contract


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Balance, beginning of period	$	1,284	$	1,822
Costs recognized from the beginning balance	(389)		(968)
Additions, net of costs recognized	264		430
Balance, end of period	$	1,159	$	1,284

Contract Liabilities


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Balance, beginning of period	$	46,126	$	41,357
Revenue recognized from beginning balance	(39,062)		(30,460)

Additions, net of revenue recognized and currency translation	41,028		35,229
Balance, end of period	$	48,092	$	46,126


Category						Life (yrs)
Airport contracts						4 - 20
Brand						3 - 15
Customer relationships						9
Database						5
Dealer networks						15 - 20
Developed technology						3 - 15
Non-compete agreements						3 - 15
Store networks						5 - 7
Trademarks						10

Foreign Currency Translation — The functional currency is the U.S. Dollar for the Company's foreign subsidiaries in Dubai and Singapore.

Earnings per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Earnings per Share

A reconciliation between basic and diluted earnings per share ("EPS") is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands, except per share data)
Net income attributable to Ebix, Inc.	$	(10,296)	$	18,250	$	(2,915)	$	56,784
Basic weighted average shares outstanding	30,866		30,777		30,854		30,745
Dilutive effect of stock options and restricted stock awards	11		6		7		3
Diluted weighted average shares outstanding	30,877		30,783		30,861		30,748
Basic earnings per common share	$	(0.33)	$	0.59	$	(0.09)	$	1.85
Diluted earnings per common share	$	(0.33)	$	0.59	$	(0.09)	$	1.85

Business Combinations	9 Months Ended
Business Combinations	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations As part of its comprehensive business growth and expansion strategy, the Company seeks to execute accretive business acquisitions that are, in most cases, complementary to Ebix's existing products and services. During the nine months ending September 30, 2023, the Company completed no business acquisitions. During the twelve months ended December 31, 2022, the Company completed no business acquisitions. A significant component of the purchase price consideration for many of the Company's business acquisitions is a potential subsequent cash earn-out payment based on reaching certain specified future revenue targets. The terms for the contingent earn-out payments in most of the Company's business acquisitions typically address the GAAP recognizable revenues achieved by the acquired entity over a one, two, and/or three-year period subsequent to the effective date of their acquisition by Ebix. These terms typically establish a minimum threshold revenue target to achieve over the agreed upon period post acquisition to earn the specified cash earn out payment. The Company applies these terms in its calculation and determination of the fair value of contingent earn out liabilities for purchased businesses as part of the related valuation and purchase price allocation exercise for the corresponding acquired assets and liabilities. The Company recognizes these potential obligations as contingent liabilities and are reported as such on its condensed consolidated balance sheets. As discussed in more detail in Note 1, these contingent consideration liabilities are recorded at fair value on the acquisition date and are remeasured quarterly based on the then assessed fair value and adjusted if necessary. As of both September 30, 2023 and December 31, 2022, the total of these contingent consideration liabilities was $2.3 million. Consideration paid by the Company for the businesses it purchases is allocated to the assets and liabilities acquired based upon their estimated fair values as of the date of the acquisition. The excess of the purchase price over the estimated fair values of assets acquired (including identified intangible assets acquired) and liabilities assumed is recorded as goodwill.

Debt	9 Months Ended
Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt The Company maintains a senior secured syndicated credit facility, dated August 5, 2014, among Ebix, Inc., as borrower, certain subsidiaries party thereto from time to time as guarantors, Regions Bank (as administrative agent and collateral agent) and the lenders party thereto from time to time (collectively with Regions Bank, the "Credit Facility Agents and Lenders") (as amended from time to time, the "Credit Facility") that provides a $450 million revolving line of credit (the "Revolver") as well as a term loan (the "Term Loan"), which at September 30, 2023 had a balance of $171.9 million. The Credit Facility was set to mature in February 2023; however, in February 2023, the Company entered into Amendment No. 13 to its Credit Facility, which among other things provided for an extension of the maturity date to May 2023, and subsequently the Company entered into Amendment No. 14 to its Credit Facility, which provided for, among other things, an extension of the maturity date from May 23, 2023 to September 30, 2023 ("Credit Facility Maturity Date"), as discussed in more details below. The Credit Facility matured on September 30, 2023, and $616.8 million, was classified as a current liability. The Company entered into a Forbearance Agreement, dated as of September 29, 2023 (the “Forbearance Agreement”), with the Credit Facility Agents and Lenders pursuant to which the Credit Facility Agents and Lenders agreed to forbear, for a limited period of time, from exercising any of their other rights and remedies under the Credit Facility with respect to the Specified Defaults (as defined and further described in the Forbearance Agreement). The Forbearance Agreement expires on the earlier of (i) November 15, 2023 and (ii) the occurrence of a "Forbearance Termination Event" (as defined and further described in the Forbearance Agreement). A Forbearance Termination Event under the Forbearance Agreement consists of, among other things, failure by the Company to perform or observe any covenants or agreements in the Forbearance Agreement, failure to pay when due any mandatory prepayments of principal under the Credit Facility, occurrence of any Event of Default under the Credit Facility, failure to meet any Milestone (as hereinafter defined), termination of the engagement of Jefferies LLC for any reason, termination of the engagement of Alix Partners LLP for any reason or entry of any Lien against any Credit Party (as defined and further described in the Credit Facility). The Company is in process of negotiating with the Credit Facility Agents and Lenders for an amendment to the Forbearance Agreement extending the expiration of the Forbearance Agreement to the earlier of (i) December 17, 2023 and (ii) the occurrence of a Forbearance Termination Event. No assurances can be given that such an amendment will be completed, if at all, or if it will be completed on terms acceptable to the Company. In addition, the Forbearance Agreement provides past due amounts will accrue interest at the Default Rate based on the Base Rate (each as defined in the Credit Facility). Pursuant to the Forbearance Agreement, the Company agreed that, among other things, on or prior to October 31, 2023, (a) the Company would agree in writing with the Credit Facility Agents and Lenders on the terms of either (i) an amendment to the Credit Facility, in form and substance acceptable to the applicable Credit Facility Agents and Lenders or (ii) an agreement to implement an alternative transaction or transactions which shall provide for repayment of the loans and other obligations under the Credit Facility in form and substance satisfactory to the applicable Credit Facility Agents and Lenders holding at least 66.67% of the Total Credit Exposure (as defined and further described in the Credit Facility) (the “Payment Path Milestone”) and (b) the Company would deliver to the applicable Credit Facility Agents and Lenders a model transition service agreement and a carve-out plan (each reasonably acceptable to the applicable Credit Facility Agents and Lenders) in connection with the sale of certain U.S. assets or a combination of U.S. asset sales through an outbound process (collectively, the “Sale”), and such model transition service agreement and a carve-out plan shall each be contemporaneously posted into the data room which has been created in connection with the Sale and is available to potential purchasers (the “Sale Milestone”, and the Payment Path Milestone and the Sale Milestone collectively, the “Milestones”). Additionally pursuant to the Forbearance Agreement, the Company agreed to cause Ebix Europe Limited and Ebix Singapore to execute and deliver to Regions Bank each of the deliverables required under Section 7.15(d) of the Credit Facility on or prior to October 31, 2023, which Ebix has delivered. The Company has provided the necessary materials to the Credit Facility Agents and Lenders pursuant to the Sale Milestone. The Credit Facility Agents and Lenders extended the due date of the Payment Path Milestone from October 31, 2023 to November 15, 2023 pursuant to written communications to the Company. The Company was not able to reach an agreement with the Lenders on an amendment to the Credit Facility providing for an extension of the Credit Facility Maturity Date by October 31, 2023. The Company is also subject to certain provisions of the Credit Facility, which will require mandatory prepayments of its outstanding loans and certain minimums for its Fixed Charge Coverage Ratio, as defined in the Credit Facility. As of September 30, 2023, the Company did not meet the required consolidated Fixed Charge Coverage Ratio. However, pursuant to the Forbearance Agreement, the Credit Facility Agents and Lenders forbear from exercising any of their respective rights and remedies with respect to the failure of the Company to comply with the Fixed Charge Coverage Ratio for the fiscal quarter ending September 30, 2023 during the Forbearance period. At September 30, 2023 the outstanding balance of the Credit Facility, $616.8 million, was classified as a current liability. Further, at September 30, 2023 the Credit Facility Maturity Date has not been extended past September 30, 2023 and anticipated IPO of EbixCash, has not yet been resolved, as further described within Item 2 "Management's Discussion and Analysis of Financial Conditions and Results of Operations - Liquidity and Capital Resources". The refinancing of the Credit Facility will require the Company to successfully access the debt and/or equity capital markets in the U.S. or internationally. However, there are no assurances that such financing will be available in amounts or on terms acceptable to us, if at all, or that the proceeds received by Ebix, Inc. from the IPO of EbixCash will be in the amount currently expected. Further, no assurances can be given when the IPO will be completed, if at all, or if it will be completed on terms acceptable to the Company. On July 21, 2023, the Company entered into an amendment ("Amendment No. 15") that specifically provided for, among other things, the deletion of the event of default deadline for the mandatory public opening of subscription to investors of the shares of the Company’s subsidiary EbixCash on the Indian stock market on or by prior to July 31, 2023. The mandatory public offering did not occur by July 31, 2023. Also, Amendment 15 that changed the possible additional amendment fee (the “Amendment Fee”) that had been included as part of Amendment No. 14, as discussed below, from an amount equal to 1.50% of the aggregate principal amount of the outstanding term loan (the “Term Loan") and the lenders’ commitments under the revolving line of credit (the “Revolver”), whether or not utilized, to 2% of the aggregate principal amount of the outstanding aggregate loan. The Amendment Fee was to waived if all of the Revolver has been terminated and the Term Loan and all other obligations due the lenders are fully repaid on or before August 31, 2023. However, the aggregate loan was not paid on August 31, 2023. On May 23, 2023, the Company signed an amendment (“Amendment No. 14”) to its existing Credit Facility, extending the maturity date to September 30, 2023. Amendment No. 14 provided for, among other things, an extension of the maturity date for both the Revolver and the term loan the Term Loan, each as existing under the Credit Facility. It was conditioned, among other things, upon the Company (i) making a $5,000,000 payment of the Term Loan by June 30, 2023 and (ii) paying a customary consent fee which will be payable over time and partially waived if certain conditions are met. Amendment No. 14 also specifically provided for the application of a certain percentage of the proceeds from certain liquidity events towards payment of outstanding principal and interest obligations at that time. These events would have included the public listing of the shares of the Company’s subsidiary EbixCash on the Indian stock market by July 31, 2023, the proceeds from the issuance of any additional debt and/or securities if raised by the Company and the proceeds from the monetization of any asset sale, if carried out by the Company. The mandatory public offering did not occur on July 31, 2023. Amendment No. 14 (i) increased the applicable margin for the facilities under the Credit Facility to (x) 7.50% per annum for SOFR loans and letter of credit fees, (y) 6.50% per annum for base rate loans, and (ii) further increases the applicable margin for the facilities under the Credit Facility on August 31, 2023 to (x) 8.00% per annum for SOFR loans and letter of credits fees, and (y) 7.00% per annum for base rate loans. Amendment 14 also included the Amendment Fee of 1.50%. On February 21, 2023, the company entered into Amendment No. 13 to its Credit Facility, which provides for, among other things, an extension of the Credit Facility Maturity Date from February 21, 2023 to May 23, 2023. Amendment No. 13 to the Credit Facility required the Company to make a $5 million prepayment of the Revolver on February, 21, 2023 and a $5 million amortization payment on the Term Loan on March 31, 2023. Any repayments under the Revolver will be accompanied by a corresponding reduction in the aggregate revolving commitments. Lastly, amendment No. 13 modified certain other provisions within the Credit Facility and has resulted in an approximately 1% per annum interest rate increase beginning February 21, 2023. On April 9, 2021, The Company entered into Amendment No. 12 to its Credit Facility. Amendment No. 12 provided for, among other things, a waiver of any potential event of default arising under the Credit Facility from the failure to timely deliver the Company's audited financial consolidated financial statements and related compliance certificate for the year ended December 31, 2020, provided that there is no good faith determination by the requisite lenders under the Credit Facility of a "Material Circumstance" (as defined and further described in Amendment No. 12), which determination (if any) may only be made within a specified period described in Amendment No. 12 and is subject to certain cure rights of the Company. Amendment No. 12 also modified the applicable margin that applies from the date of the amendment forward, modified certain mandatory prepayment provisions, as well as certain other covenants related to restricted payments, investments and certain reporting requirements. On March 31, 2021, Ebix entered into Amendment No. 11 to the Credit Facility. Amendment No. 11 provided, for, among other things, a limited waiver through April 10, 2021, of any potential event of default arising under the Credit Facility from failure to deliver the Company's audited consolidated financial statements and related compliance certificate for the year ended December 31, 2020. Amendment No. 11 also modified certain covenants contained in the Credit Facility, including with respect to certain permitted restricted payments and investments. As of September 30, 2023, the Company's condensed consolidated balance sheets include $8.2 million of remaining deferred financing costs in connection with the Credit Facility, which were being amortized as a component of interest expense through the Credit Facility Maturity Date. $4.9 million of such deferred financing costs pertain to the Revolver, and $3.3 million pertains to the Term Loan, which is netted against the current portion of the Term Loan as reported on the condensed consolidated balance sheets. At December 31, 2022, the Company's Consolidated Balance Sheets included $1.2 million of remaining deferred financing costs in connection with the Credit Facility, with $0.7 million pertaining to the Revolver, and $0.5 million pertaining to the Term Loan, of which $0.5 million was netted against the current portion of the Term Loan. As of September 30, 2023, the outstanding balance on the Revolver was $444.9 million and the Revolver carried an interest rate of 13.43% at September 30, 2023. The balance on the Revolver is included in the current liabilities section of the condensed consolidated balance sheets. During the nine months ended September 30, 2023, the average and maximum outstanding balances of the revolving line of credit component of the Credit Facility were both $444.9 million. At December 31, 2022, the outstanding balance on the Revolver was $449.9 million and the Revolver carried an interest rate of 9.69%. As of September 30, 2023, the outstanding balance on the Term Loan was $171.9 million, of which $171.9 million is due within the next twelve months. $22.5 million of principal payments were made during the nine months ended September 30, 2023, of which $0.0 million were scheduled amortization payments. This Term Loan also carried an interest rate of 13.43% at September 30, 2023. The Term Loan is included in the current liabilities section of the condensed consolidated balance sheets at September 30, 2023. At December 31, 2022, the outstanding balance on the Term Loan was $189.4 million, of which $189.4 million was due within twelve months. The Term Loan also carried an interest rate of 9.69% at December 31, 2022. The Company maintains working capital debt facilities with banks in international markets for working capital funding requirements to support our foreign exchange and payment remittance businesses. We are required to extend short term credits to franchisee networks (B2B) and corporate customers. Additionally we are required to maintain minimum levels of foreign currency inventory across branches and airport operations. Typically, these facilities carry interest rates of 9.00% to 10%, are rupee-denominated working capital lines, and are collateralized against the receivables of these businesses and existing foreign currency inventory on hand. As of September 30, 2023 and December 31, 2022, the total of these working capital facilities was $15.3 million and $3.4 million, respectively, and is included in current liabilities in the Company's condensed consolidated balance sheets.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies On February 22, 2021, Christine Marie Teifke, a purported purchaser of Ebix securities, filed a putative class action in the United States District Court for the Southern District of New York, captioned Teifke v. Ebix, Inc., et. al., Case No. 1:21-cv-01589-JMF, on behalf of herself and others who purchased or acquired Ebix securities between November 9, 2020 and February 19, 2021. The complaint asserts claims against the Company, Robin Raina, and Steven M. Hamil (“Defendants”), for purported violations of Section 10(b) of the Securities Exchange Act of 1934, alleging that Ebix made false and misleading statements and failed to disclose material adverse facts about an audit of the company's gift card business in India and its internal controls over the gift and prepaid card revenue transaction cycle. The complaint alleges that Ebix's stock price fell as a result of the revelation that Ebix's independent auditor, RSM US LLP (“RSM”), had resigned, citing concerns with the company's internal controls and disagreements over other accounting issues. The complaint also asserts a claim against Robin Raina and Steven M. Hamil for purported violations of Section 20(a) of the Exchange Act arising out of the same facts. The complaint seeks, among other relief, damages and attorneys' fees and costs. On May 11, 2021, the court issued an order appointing Rahul Saraf, another purported purchaser of Ebix, Inc. securities, as lead plaintiff in the action, and the caption in the action was changed to Saraf v. Ebix, Inc., et. al., Case No. 1:21-cv-01589-JMF (the "Class Action"). On July 17, 2023, the Court dismissed the Class Action in its entirety with prejudice for failure to state a claim. On August 16, 2023, Rahul Saraf filed a Notice of Appeal to the United States Court of Appeals for the Second Circuit. The appeal is captioned Saraf v. Ebix, Inc., et al., Case No. 23-1182. On October 26, 2023, Rahul Saraf filed his Brief of Plaintiff-Appellant. On May 14, 2021, Javier Calvo, a purported shareholder of the Company, filed a derivative action in the United States District Court for the Southern District of New York on behalf of Ebix captioned Calvo v. Raina, et. al., Case No. 21-cv-4380-JMF (the "Calvo Action"), against individual defendants Robin Raina, Steven M Hamil, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans Ueli Keller, and George W. Hebard, and nominal defendant Ebix asserting claims for breach of fiduciary duty against all the individuals defendants and claims under Section 10(b) and 21D of the Exchange Act against Robin Raina and Steven M. Hamil related to the RSM resignation. On July 13, 2021, Peter Votto, another purported Ebix shareholder, filed an additional derivative action in the United States District Court for the Southern District of New York on behalf of Ebix, captioned Votto v. Raina, et. al., Case No. 21-cv-5982-JMF (the "Votto Action"), asserting claims against the same defendants as the Calvo Action. The Votto Action complaint asserts claims relating to the RSM resignation against all of the individual defendants for breach of fiduciary duties, unjust enrichment, waste of corporate assets, and rescission under Section 29(b) of the Securities Exchange Act of 1934, and claims for contribution under Sections 10(b) and 21D of the Securities Exchange Act of 1934 against Robin Raina and Steven M Hamil. The Consolidated Derivative Action is currently stayed by agreement of the parties and order of the Court. On November 5, 2021, Daniel Lilienfeld, a purported shareholder of the Company, filed a derivative action in the United States District Court for the Northern District of Georgia on behalf of Ebix captioned Lilienfeld v. Raina, et. al., Case No. 1:21-cv-04590-ELR (the "Lilienfeld Action"), asserting claims against the same defendants as the Consolidated Derivative Action. The complaint similarly asserted a claim of breach of fiduciary duty related to the RSM resignation against all of the individual defendants. On July 26, 2023, Mr. Lilienfeld dismissed the Lilienfeld Action without prejudice. On December 29, 2021, Sunil Shah, a purported shareholder of the Company, filed a derivative action in the Superior Court of Fulton County of the State of Georgia on behalf of Ebix captioned Shah v. Raina, et. al., Civil Action File No. 2022-cv-358481 (the "Shah Action") against the same defendants as the Consolidated Derivative Action and Lilienfeld Actions. The complaint similarly asserted a claim of breach of fiduciary duty related to the RSM resignation against all of the individual defendants. On July 26, 2023, Mr. Shah dismissed the Shah Action without prejudice. The Company along with Ebix Singapore Pte. Ltd. ("Ebix Singapore", and together with the Company, the “Ebix Group”) had purchased 80% Equity Shares of Ebix Payment Services Private Limited[BA1] (“ItzCash”) with effect from April 1, 2017. During the Financial Year 2020, the erstwhile shareholders of ItzCash raised a dispute with the Ebix Group alleging breaches of the share purchase agreement and shareholders’ agreement entered into between the parties and demanding for termination of the shareholders’ agreement, payment of earn out consideration and buyout of minority shareholding. The matter is under arbitration in accordance with the rules of the Singapore International Arbitration Centre (“SIAC”). The arbitration proceedings have concluded, and the arbitral tribunal has passed a partial order dated June 1, 2023 (“Partial Award”) which inter alia states the following (i) the termination of the shareholders agreement executed amongst the Company, Ebix Singapore, Ebix World Money, Vyoman, Ashok Kumar Goel and Ebix Payment Services dated May 12, 2017 (“SHA”) by Vyoman and Mr. Goel was justified (ii) our Company and Ebix World Money (and failing performance, Ebix Singapore) are jointly and severally obliged to purchase the existing shareholding of Vyoman and Mr. Goel under the SHA at a price determined by an independent valuer, once such determination has been made in accordance with the relevant provisions of the SHA and (iii) Claimants were not entitled to specific performance to receive payment of the first and second earn-out thresholds under the aforementioned agreements; and (iv) our Company, Ebix Singapore, Ebix World Money and Ebix Payment Services were found in breach of certain clauses of the aforementioned agreements. Due to absence of explanation of how Claimants incurred or may have incurred losses pursuant to such breaches of the above mentioned agreements the Partial Award directed payment of nominal damages by the Respondents in an joint and several manner to the Claimants as follows: (i) SGD 200 each to Vyoman and Ashok Kumar Goel in respect to the breaches of the SHA and (ii) SGD 100 to each of the 17 other claimants in respect to breaches of the Promoter SPA, Employee SPA and Investor. The Partial Award provides that division of arbitration costs will be handled in the final award. Subsequently, the Arbitral tribunal passed a final award and mandated our subsidiaries EbixCash Limited and EbixCash World Money Limited to buy the balance 20% at fair value and further asked the Ebix Group to pay INR 70.55 million ($855K) and SGD 187,681.06 for legal cases. Ebix Asia Pacific LLC has confirmed to the Company that it shall buy the balance stake and shall have no additional rights to the shareholders accordingly, no provision has been recorded in the financial statement for the purchased balance 20% stake in ItzCash. Educomp Solutions Limited (“Educomp”) filed a petition bearing no. CP (IB) No.101 (PB) 2017 under Section 10 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) seeking to initiate voluntary corporate insolvency resolution process (“CIRP”) on May 5, 2017. The petition was admitted by the National Company Law Tribunal, New Delhi (“NCLT”) via its order dated May 30, 2017, and the CIRP for Educomp was initiated. The appointed Resolution Professional (“RP”) requested prospective bidders, investors, and lenders to submit their expression of interest and a resolution plan. Ebix Singapore Pte Ltd., (“Ebix Singapore”) submitted its Resolution Plan dated January 27, 2018 (which was subsequently modified on February 19, 2018 and February 21, 2018) (“Resolution Plan”). The Resolution Plan was approved by the Committee of Creditors by 74.16% votes on February 21, 2018. The Chhattisgarh State Electricity Board Gratuity and Pension Trust and Chhattisgarh State Electricity Board Provident Trust (together referred to as “CSEB”) via its email dated February 23, 2018, supported the Resolution Plan. On February 23, 2018, 75.36% of the members of creditors approved the Resolution Plan. Since CSEB supported the Resolution Plan after the vote, the RP filed an application before the NCLT on whether CSEB’s vote should be considered. NCLT held that, vide order dated February 28, 2019, that it would hear this application along with the Plan Approval Application (as defined below), which was subsequently filed. The RP filed an application bearing CA no. 195(PB) 2018 dated March 7, 2018 under section 30(6) of the IBC before the NCLT seeking approval of the Resolution Plan submitted (“Plan Approval Application”) and necessary direction on whether CSEB’s vote should be considered valid. In the interim, several members of the Committee of Creditors raised grave and serious concerns in relation to the mismanagement and fraud in relation to the affairs of Educomp. Furthermore, the Central Bureau of Investigation and Serious Fraud Investigation Office also initiated investigations against Educomp. Subsequently, as result of the above-mentioned circumstances, inter alia, Ebix Singapore sought to withdraw the Resolution Plan via their applications dated July 5, 2019, July 11, 2019 and September 10, 2019. The first two applications were dismissed on July 10, 2019 and September 5, 2019, respectively, while the third application was allowed on January 2, 2020. The RP then filed a withdrawal appeal before the National Company Law Appellate Tribunal (“NCLAT”). One July 29, 2020, the NCLAT overturned the NCLT’s order permitting the withdrawal. In response, Ebix Singapore challenged the NCLAT’s order before the Supreme Court of India “Honorable Supreme Court”) on September 12, 2020. The Honorable Supreme Court, by its order dated September 13, 2021, in Ebix Singapore Pte. Ltd. v. Committee of Creditors of Educomp Solutions Ltd., (2022) 2 SCC 401 held, inter alia, that Ebix Singapore was not permitted to withdraw the Resolution Plan. Pursuant the Hon’ble Supreme Court’s ruling, the Plan Approval Application was revived from December 3, 2021 and Ebix Singapore became party to the NCLT proceedings. Accordingly, the NCLT is presently considering the Plan Approval Application. Ebix Singapore submitted its formal objections to the Resolution Plan on May 23, 2022 on the grounds that in view of the current position of Educomp, the Resolution Plan is not viable, feasible and implementable under the provisions of the Insolvency and Bankruptcy Code of India. On, September 5, 2023, Ebix Singapore filed IA No. 4845 of 2023 seeking, inter alia, a declaration that Educomp is no longer a going concern in view of the report(s) of the statutory auditor of Educomp and proceedings against the RP for making false statements to the NCLT on the financial status of Educomp. On October 09, 2023, the NCLT has allowed the Plan Approval Application and dismissed IA No. 4845 of 2023 filed by Ebix Singapore. The NCLT has also directed Ebix Singapore to submit a performance bank guarantee for a sum of INR 325 million ($3.94 million). The Resolution Professional has filed Cont. Petition No. 55 of 2023 against, inter alia, Ebix Singapore for failure to submit a performance bank guarantee. Ebix is in the process of appealing against the order dated October 9, 2023 passed by the NCLT before the Appellate Tribunal. Ebixcash, Zillious Solutions Private Limited (“Zillious”), Harsh Azad and Rohit Gaddi entered into a share purchase agreement dated February 11, 2019 (“Zillious SPA”), a shareholders agreement dated February 11, 2019 (“Zillious SHA”), and letter agreement dated February 11, 2019 (“Letter Agreement”). Pursuant to the SPA, Ebixcash acquired Zillious, by purchasing 80% of its equity interests held by Harsh Azad and Rohit Gaddi (“Claimaints”). Pursuant to the Zillious SPA, the share purchase consideration payable to the Claimants for the transfer of their 80% equity interest in Zillious was divided into the following three tranches: (i) base purchase consideration of INR 500.00 million ($6.06 million); (ii) free cash of INR 222.88 million ($2.7 million); and (iii) a further contingent consideration of INR 50 million ($606K) (“Earn Out”), payable as part of the overall consideration, in the event Zillious achieves a revenue of INR 300.00 million ($3.64 million)during any 12-month period from January 01, 2019, to December 31, 2021 (“Earn Out Period”). Pursuant to the SPA, the Claimants continued to hold 19.98% of the shareholding of Zillious. The balance 20% equity shares were to be purchased by Ebixcash, in the event the buy-out took place as contemplated under the Zillious SHA. The buy-out was scheduled to be completed within a period of two years commencing from January 1, 2019 to December 31, 2020. (“Buy Out Period”). The Zillious SHA provided that the Claimants would remain the shareholders and directors of Zillious until December 31, 2020 and if at the end of Buy Out Period Zillious failed to achieve Average Annualised Revenue of INR 190 million ($2.3 million) and an EBITDA of 45% during the Buy Out Period (“Buy Out Milestones”), then the Claimants would continue to remain as shareholders but not be entitled to any additional considerations or buy out of their shares. The buyout consideration initially was the consideration equal to the aggregate of (i) INR 150.00 million ($1.82 million); (ii) INR 100.00 million ($1.21 million) contingent upon Zillious achieving the Buy Out Milestones (“Contingent Consideration”); and (iii) 20% of the profit after tax of Zillious payable to the Claimants in proportion of their respective shareholding during the Buy Out Period. The Zillious SHA also provided that in the event Ebixcash committed a breach of its obligations under the Zillious SPA or the Zillious SHA, then the obligation of Ebixcash to consummate the Buyout and pay the buyout consideration of INR 150.00 million ($1.82 million) shall be accelerated. The Zillious SHA qualified certain matters as reserved matters, related to the conduct and affairs of Zillious, which would require an affirmative vote of the Claimants to be approved (“Reserved Matters”). Further, pursuant to the employment agreements, dated February 20, 2019, between each of the Claimants and Ebixcash (the “Employment Agreements”), the Claimants were appointed as full time directors of Zillious with remuneration of INR7.2 million ($87K) each. Subsequently, under a letter agreement between Ebixcash and the Claimants (the “Letter Agreement”), the Contingent Consideration was substituted and replaced with an additional earn out (“Additional Earn Out”) of INR 100 million ($1.21 million) in view of the purchase of the 80% shareholding of Zillious under the Zillious SPA in the manner set out in the Letter Agreement. Pursuant to acquisition under the Zillious SPA and the subsequent Letter Agreement, Zillious performed well till the outbreak of Covid-19 which led to decrease in revenues and, consequently, Zillious did not meet the Buy Out Milestones. In July 2020 Claimants alleged breaches of the Zillious SPA by Ebixcash, relating to the performance and functioning of Zillious. In November 2020, the Claimants instituted arbitration proceedings against Ebixcash and Zillious. The Claimants’ statement of claim, dated November 11, 2020, inter alia, raised the following alleged breaches by Ebixcash and Zillious: (i) Ebixcash’s deliberate prevention of Zillious from achieving the revenue targets, (ii) conducting meetings without issuing notices and the achieving the required quorum; (iii) passing resolutions in invalidly constituted meetings and fabricating the records of board meetings, annual general meetings and extra general meetings; (iv) amendment of the memorandum of association of Zillious by fraudulent change in Zillious’s registered office from Delhi to Uttar Pradesh; (v) decisions in relation to Reserved Matters (i.e. reduction of Claimant’s remuneration) without the proper approval of the Claimants; (vi)prevention of Claimants by Ebixcash from pursuing new business leads and opportunities; (vii) siphoning off interest free corporate loans from Zillious to Ebix Money Express Private Limited and Ebix-related entities (viii) promotion of Ebix’s business entities at the cost of Zillious’ business which negatively impacted Zillious’ business; and (ix) causing high attrition rates of employees thereby seriously impacting Zillious’s business. The Claimants sought the following relief: (i) specific performance by Ebixcash under the Zillious SHA; (ii) payment of the buyout consideration contemplated by the Zillious SPA (INR 250.00 million (3.03 million), (₹ 125.00 million ($1.51 million) to each Claimant)); (iii) payment of earn out consideration contemplated by the Zillious SPA (₹ 50.00 million ($606K), (₹ 25.00 million ( $303K) to each Claimant)); (iv) rendition of accounts directing Ebix Cash to pay Free Cash (as defined in the Zillious SPA) to each Claimant; (v) payment of salary to the Claimants beginning April 1, 2020 at the rate of INR 0.6 million ($7.3K) per month under Employment Agreements; (vi) payment of dividend to the Claimants under Zillious SPA; and (vii) an interest of 18% on all the aforesaid payments. The Claimants initially sought relief under Section 9 of the Arbitration and Conciliation Act, 1996, as amended (the “Arbitration Act”). Ebixcash and Zillious filed a statement of defense on December 21, 2020 which (i) denied fabrication of records of any meetings, (ii) denied any breach of terms of SPA and SHA on their part, (iii) submitted that Buy Out Period is ongoing and specific performance which cannot be prematurely claimed on it, and (iv) stated the reduction in Claimants’ remuneration was a temporary measure due to the impact of Covid-19, and Ebixcash agreed to reimburse Claimants’ salaries. Thereafter, the Claimants sought an urgent interim relief under Section 17 of the Arbitration Act to secure the amount in dispute as well as restoration of Claimants’ salaries, arguing that the Company, and Ebixcash are under financial distress. The Tribunal allowed restoration of Claimants’ salaries and payment of arrears with effect from April 1, 2020, through an order dated October 1, 2021, pursuant to which Ebixcash made payment of an aggregate amount of INR 13.49 million ($164K). The arbitrator directed Ebixcash and Zillious to buy the 20% ownership of Zillious held by the Claimants for amount of INR 250 million ($3.03 million) along with a sum of INR 2.92 million ($35.4K) as free cash and INR 3.89 million ($47K) as cost along with interest. In the opinion of the management, based upon legal analysis of the Company, the aforesaid claims are not valid, and no material liability will devolve on the Company on account of this dispute. Management filed an appeal against this order. On September 8, 2020, Amadeus IT Group S.A. (“Amadeus”) filed a request for arbitration before the International Chamber of Commerce, Paris (“ICC”) against Ebixcash Ltd. and Ebix Inc. (together, as discussed in this section, “Ebix”) seeking, inter alia, recovery of sums advanced under the Global Agreement, dated October 1, 2019, entered into between Amadeus and Ebix (the “Global Agreement”). Under the Global Agreement, Ebix procured a license to use the Amadeus GDS for its various group companies (referred as “Customer Offices”). Amadeus also advanced to Ebix a sum of $15 million which was to be recovered from the sales of tickets booked by the Customer Offices. Ebix was also required to meet certain sales targets every quarter under the Global Agreement. As a consequence of the COVID-19 global pandemic, Ebix was unable to meet the required sales targets under the Global Agreement, and, as a result, Amadeus terminated the Global Agreement. Amadeus also sought recovery of the balance sums of the monies advanced by Amadeus (after deducting the incentives per ticket actually booked by Ebix). Amadeus filed its request for arbitration before the ICC, and the the arbitral tribunal selected by the ICC (the “Arbitral Tribunal”) was presented with the following two questions: (i) whether Amadeus was allowed to terminate the Global Agreement and (ii) if yes, what were the sums liable to be returned by Ebix to Amadeus. The Arbitral Tribunal, gave its ruling (“Award”) holding that even though Ebix could not meet the sales targets due to the onset of COVID-19 and the disruption in the travel market, Ebix cannot deny Amadeus its right to the sums advanced by Amadeus. However, the Arbitral Tribunal found that Amadeus was incorrect in its calculation of the number of tickets booked by Ebix and gave Ebix the benefit of all tickets booked by all the Customer Offices (irrespective of whether the Customer Offices were in control of Ebix). Consequently, the Tribunal reduced Amadeus’ claim and directed Ebix to pay an aggregate advance collected of EUR 12,061,814. The Tribunal also directed Ebixcash Ltd. to pay to Amadeus a sum of EUR 551,598.38 in respect of certain product services used by it. This in USD terms amounts to a cumulative sum of $12.893 million payable to Amadeus against an approximate sum of $13.3 million Amadeus’ advance in EbixCash books. Pertinently, the amounts awarded are merely to return the sums advanced by Amadeus less the tickets booked by Ebix. No damages have been awarded by the Arbitral Tribunal. Ebix had appropriately provisioned these sums as advances in its accounts and the Arbitral Tribunal’s award does not affect the existing P&L of Ebix. Ebix firmly believes that the Tribunal failed to take into account the impact of COVID-19 on the travel industry and on account of such force majeure (which has been accepted by the Tribunal), Amadeus could not have terminated the Global Agreement. The proper course of action would have been for Amadeus to have extended the term of the Global Agreement to account for the period of COVID-19 and resume the terms once the travel industry was back on its feet. With respect to the claims for services, it was an admitted position that no invoices for these services were ever received by Ebix and Ebix vehemently contests that these services were even provided. On October 14, 2022, Amadeus petitioned the United States District Court for the Northern District of Georgia (“USDC for the Northern District of Georgia”) to confirm the Award against Ebix under the Federal Arbitration Act. On December 14, 2022, Amadeus moved for default judgment. On December 19, 2022, Ebix moved to set aside entry of default, and for leave to file an opposition to the confirmation out of time. On January 6, 2023, Ebix filed an opposition to the motion for default judgment, arguing that it would prevail on the merits of the petition to confirm because the Arbitral tribunal exceeded its authority by awarding fees and costs to Amadeus that were not provided for in the governing arbitration provision. At the same time, Ebix engaged with Amadeus to renegotiate the terms of the Global Agreement and payments under the Award, for the mutual benefit of both parties.] On Friday, January 27, 2023, Ebix and Amadeus reached an agreement to settle all of Amadeus’ claims related to this matter. The agreement included the return to Amadeus of its advance with interest to be made in four payments by Ebix throughout 2023. The payments to Amadeus will be guaranteed by a reputable Indian bank of mutual approval. The Arbitral Tribunal passed a final award on February 17, 2022 (“Final Award”), wherein it observed certain violations of terms of the Global Agreement by our Company and determined the Company and Ebix’s joint and several liability to make a payment to Amadeus of (i) EUR 12.06 million with an interest of 2% per annum above the three month Euribor from the date of the Final Award; (ii) EUR 0.40 million as legal and other costs including the costs paid to ICC for costs of the arbitration proceeding; and (iii) to bear its Ebix’s own legal and other costs. Further, on June 22, 2023, the USDC for the Northern District of Georgia confirmed the Final Award. By its judgment dated July 11, 2023, the USDC for the Northern District of Georgia directed Ebix to pay Amadeus the amount of $15.07 million, plus post-judgment interest, and an additional Ebix shall also $451.00 for the filing fees incurred by Amadeus. Accordingly, Ebix has paid $9 million to Amadeus through end of October 31, 2023 per the payment plan with Amadeus for returning the advance as directed by the USDC for the Northern District of Georgia. Currently, in forbearance under the agreement with Amadeus, it is being modified as Ebix is in breach The Company is involved in various other claims and legal actions arising in the ordinary course of business, which in the opinion of management, the ultimate likely disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or liquidity.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded a net income tax expense of $514 thousand and $1,301 thousand during the three and nine months ended September 30, 2023, which included tax expense of $0.2 million and $1.9 million from certain discrete items related to stock compensation and uncertain tax positions. The income tax benefit, exclusive of discrete items, was $0.4 million and $620 thousand (15.67%) for the three and nine months ended September 30, 2023. During the three and nine months ended September 30, 2023 and September 30, 2022, there was an increase of $1.4 million and $146 thousand to this liability reserve, respectively. The Company expects its full year effective tax rate to be in the range of 8% to 10%. As of September 30, 2023 and December 31, 2022 a liability of $7.8 million and $6.4 million for uncertain tax positions is included in other long-term liabilities of the Company's condensed consolidated balance sheets. During the nine months ended September 30, 2023 and September 30, 2022, there was an increase of $1,386 thousand and $146 thousand to this liability reserve, respectively. The Company recognizes interest accrued and penalties related to unrecognized tax benefits as part of income tax expense.

Geographic Information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Geographic Information

The following enterprise-wide information relates to the Company's geographic locations:


	Nine Months Ended		As of		Nine Months Ended		As of
	September 30, 2023		September 30, 2023		September 30, 2022		December 31, 2022
	External Revenues		Long-lived assets		External Revenues		Long-lived assets
	(In thousands)
North America	114,657		386,198		118,605		374,891
International	365,762		816,912		676,333		785,746
	$	480,419	$	1,203,110	$	794,938	$	1,160,637

Enterprise-wide information relates to the Company's geographic locations on net basis for comparative purposes (Non GAAP)


	Nine Months Ended		As of		Nine Months Ended		As of
	September 30, 2023		September 30, 2023		September 30, 2022		December 31, 2022
	External Revenues		Long-lived assets		External Revenues		Long-lived assets
	(In thousands)
North America	114,657		386,198		118,605		374,891
International	239,074		816,912		216,337		785,746
	$	353,731	$	1,203,110	$	334,942	$	1,160,637

Investment in Joint Ventures	9 Months Ended
Investment in Joint Ventures	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investment in Joint Ventures	Investment in Joint Ventures Effective February 2016, Ebix and Vayam Technologies Ltd ("Vayam") formed a joint venture named Ebix Vayam Limited JV. This joint venture was established to carry out IT projects in the government sector of the country of India, particularly in regards to the implementation of e-governance projects in the areas of education and healthcare. Ebix has a 51% equity interest in the joint venture, and Vayam has a 49% equity interest in the joint venture. Ebix is fully consolidating the operations of Ebix Vayam Limited JV into the Company's financial statements and separately reporting the Vayam minority, non-controlling interest in the joint venture's net income and equity. Vayam is also a customer of Ebix Vayam Limited JV, and, during the three and nine months ended September 30, 2023, Ebix Vayam Limited JV recognized $143 thousand and $349 thousand, respectively, of revenue from Vayam. During the three and nine months ended September 30, 2022, Ebix Vayam Limited JV recognized $205 thousand and $726 thousand, respectively, of revenue from Vayam. As of September 30, 2023, Ebix Vayam Limited JV had $11.8 million of accounts receivable with Vayam, net of the estimated allowance for doubtful accounts receivable in the amount of $5.7 million. As of December 31, 2022, Ebix Vayam Limited JV had $11.6 million of accounts receivable with Vayam, net of the estimated allowance for doubtful accounts receivable in the amount of $5.7 million. An order of commencement of Corporate Insolvency Resolution Process (CIRP) was passed by The National Company Law Tribunal, Principal Bench, New Delhi vide order dated March 25, 2022, on Vayam. Ebix Vayam Limited JV has an arrangement with Vayam whereby for all payments to be made to Vayam under the various projects sub-contracted to Ebix Vayam Limited JV, Vayam would set up a separate bank account with automatic bank forwarding arrangement to Ebix Vayam Limited JV’s bank account. Subsequent to the period ended, on October 18, 2023, management has requested the Bharat Sanchar Nigam Limited("BSNL") to defer the payment till the conclusion to its appeal, accordingly considering the deferment request the balance outstanding with BSNL has been presented as non-current trade receivable in the financial statement. The management of the Holding Company based on its overall assessment and independent legal opinion believes receivables from BSNL constitute the “assets” of Ebix Vayam Limited JV and cannot in any manner whatsoever be construed to be the assets of Vayam under the provisions of the Insolvency and Bankruptcy Code, 2016. Vayam being a mere shareholder in Ebix Vayam Limited JV cannot claim any interest, right or claim over the assets of Ebix Vayam Limited JV and accordingly, believes no provision is required to be created in the consolidated financial statements against the recoverable balance Effective September 2015, Ebix and Independence Holding Company ("IHC") formed the joint venture EbixHealth JV. This joint venture was primarily established to promote and market an administrative data exchange for health insurance lines of business in the U.S. Ebix has a 51% equity interest in the joint venture and IHC has a 49% equity interest the joint venture. Ebix is fully consolidating the operations of EbixHealth JV into the Company's financial statements and separately reporting EbixHealth JV non-controlling interest in the joint venture's net income and equity. IHC is also a customer of EbixHealth JV, and, during the three and nine months ended September 30, 2023, EbixHealth JV recognized $236 thousand and $727 thousand, respectively, of revenue from IHC. During the three and nine months ended September 30, 2022, EbixHealth JV recognized $284 thousand and $897 thousand of revenue from IHC. As of September 30, 2023 and December 31, 2022, EbixHealth JV had $71 thousand and $74 thousand of accounts receivable from IHC, respectively. Furthermore, as a related party, IHC also has been and continues to be a customer of Ebix, and during the three and nine months ended September 30, 2023 the Company recognized $18 thousand and $61 thousand, respectively, of revenue from IHC. During the three and nine months ended September 30, 2022, the Company recognized $24 thousand and $64 thousand of revenue from IHC. As of September 30, 2023 and December 31, 2022, Ebix had $44 thousand and $44 thousand of accounts receivable with IHC. EbixHealth JV has a $1.8 million note due to IHC. The Company recorded $125 thousand in amortization expense related to the IHC customer relationship intangible during the nine months ending September 30, 2023.

Goodwill, Finite-Lived, and Indefinite-Lived Intangibles

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Finite-Lived, and Indefinite-Lived Intangibles

Changes in the carrying amount of goodwill for the nine months ended September 30, 2023 and the year ended December 31, 2022 are reflected in the following table:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Beginning Balance	$	881,676	$	939,249
Additions	—		—
Purchase accounting adjustments	—		—
Foreign currency translation adjustments	$	(2,422)	(57,573)
Ending Balance	$	879,254	$	881,676

The carrying value of finite-lived and indefinite-lived intangible assets at September 30, 2023 and December 31, 2022 are as follows:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Finite-lived intangible assets:
Customer relationships	$	100,877	$	101,401
Developed technology	36,835		34,427
Dealer network	5,987		5,877
Airport contracts	3,968		3,992
Trademarks	2,653		2,651
Store networks	2,140		2,153
Brand	786		791
Non-compete agreements	701		702
Database	212		212
Backlog	140		140
Total intangibles	154,299		152,346
Accumulated amortization	(109,214)		(101,446)
Finite-lived intangibles, net	$	45,085	$	50,900

Indefinite-lived intangibles:	.
Customer/territorial relationships	16,647		16,647

Capitalized Software Development Costs	9 Months Ended
Capitalized Software Development Costs	Sep. 30, 2023
Capitalized Software Development Costs Disclosure [Abstract]
Capitalized Software Development Costs	Capitalized Software Development Costs In accordance with ASC 350-40 “Internal-Use Software” and/or ASC 350-985 “Software”, the Company has capitalized certain software and product related development costs associated with the Company’s continuing medical education service offerings; development of the P&C underwriting insurance data exchange platform servicing the London markets; development of SaaS based Asset Management and Collection platforms having global application; development of single sign on agent and customer portal, including mobile application, and content development work related to the e-learning business. During the three and nine months ended September 30, 2023, the Company capitalized $0.5 million and $1.1 million, respectively. During the three and nine months ended September 30, 2022, the Company capitalized $1.5 million and $5.7 million, respectively, of such development costs. At September 30, 2023 and December 31, 2022, a total of $16.2 million and $15.3 million, respectively, of remaining unamortized development costs are reported on the Company’s condensed consolidated balance sheets. During the three and nine months ended September 30, 2023, the Company recognized $28 thousand and $131 thousand, respectively, of amortization expense with regards to these capitalized software development costs. During the three and nine months ended September 30, 2022, related amortization expense was $0.7 million and $2.2 million respectively.

Other Current Assets

9 Months Ended

Sep. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Current Assets

Other Current Assets Other current assets at September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)


Prepaid expenses	$	73,443	$	71,449
Sales taxes receivable from customers	5,684		3,289
Other third party receivables	669		1,034
Credit card merchant account balance receivable	711		704
Short term portion of capitalized costs to obtain and fulfill contracts	451		486
Accrued interest receivable	570		651
Other	11,540		9,774
Total	$	93,068	$	87,387

Leases

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases


Year	Operating Leases		Financing Leases		Total
	(in thousands)
2023	929		36		965
2024	2,931		133		3,064
2025	2,191		19		2,210
2026	1,378				1,378
2027	624		—		624
Thereafter	1,106		—		1,106
Total	9,159		188		9,347
Less: present value discount*	(1,133)		(7)		(1,140)
Present value of lease liabilities	8,026		181		8,207

Less: current portion of lease liabilities	(2,739)				(2,739)
Total long-term lease liabilities	$	5,287	$	181	$	5,468

* The discount rate used was the incremental borrowing rates respective to the country where the assets are located.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(in thousands)				(in thousands)
Operating Lease Cost	$	963	$	1,001	$	3,092	$	2,980
Finance Lease Cost:
Amortization of Lease Assets	32		41		106		135
Interest on Lease Liabilities	2		5		9		18
Finance Lease Cost	34		46		115		153
Sublease Income	(47)		(23)		(71)		(69)
Total Net Lease Cost	$	950	$	1,024	$	3,136	$	3,064

Other information about lease amounts recognized in our condensed consolidated statement of income is summarized as follows:


	September 30, 2023
Weighted Average Lease Term - Operating Leases	3.79 years
Weighted Average Lease Term - Finance Leases	1.39 years
Weighted Average Discount Rate - Operating Leases	8.2	%
Weighted Average Discount Rate - Finance Leases	5.4	%


Year	Commitments
	(in thousands)
2023 (Remaining three months)	$	4,015
2024	8,947
Thereafter	$	10,685
Total	$	23,647

Leases


Year	Operating Leases		Financing Leases		Total
	(in thousands)
2023	929		36		965
2024	2,931		133		3,064
2025	2,191		19		2,210
2026	1,378				1,378
2027	624		—		624
Thereafter	1,106		—		1,106
Total	9,159		188		9,347
Less: present value discount*	(1,133)		(7)		(1,140)
Present value of lease liabilities	8,026		181		8,207

Less: current portion of lease liabilities	(2,739)				(2,739)
Total long-term lease liabilities	$	5,287	$	181	$	5,468

* The discount rate used was the incremental borrowing rates respective to the country where the assets are located.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(in thousands)				(in thousands)
Operating Lease Cost	$	963	$	1,001	$	3,092	$	2,980
Finance Lease Cost:
Amortization of Lease Assets	32		41		106		135
Interest on Lease Liabilities	2		5		9		18
Finance Lease Cost	34		46		115		153
Sublease Income	(47)		(23)		(71)		(69)
Total Net Lease Cost	$	950	$	1,024	$	3,136	$	3,064

Other information about lease amounts recognized in our condensed consolidated statement of income is summarized as follows:


	September 30, 2023
Weighted Average Lease Term - Operating Leases	3.79 years
Weighted Average Lease Term - Finance Leases	1.39 years
Weighted Average Discount Rate - Operating Leases	8.2	%
Weighted Average Discount Rate - Finance Leases	5.4	%


Year	Commitments
	(in thousands)
2023 (Remaining three months)	$	4,015
2024	8,947
Thereafter	$	10,685
Total	$	23,647

Concentrations of Credit Risk	9 Months Ended
Concentrations of Credit Risk	Sep. 30, 2023
Concentrations of Credit Risk [Abstract]
Concentrations of Credit Risk	Concentrations of Credit Risk The Company is potentially subject to concentrations of credit risk in its accounts receivable. Credit risk is the risk of an unexpected loss if a customer fails to meet its contractual obligations. The Company can be directly affected by the financial condition of its customers, the loss or substantial reduction in business activity with its customers, or the inability of customers to pay its invoices. While customer activity and financial condition could have a material impact on the Company’s financial statements, management does not believe significant credit risk exists at September 30, 2023.

Other Current Liabilities

9 Months Ended

Sep. 30, 2023

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

Other Current Liabilities Other current liabilities at September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Customer advances (deposits)	$	22,528	$	23,631
Acquisition obligations (upfront purchase and contingent consideration)	1,585		2,153


Total	$	24,113	$	25,784

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsNone.

Pay vs Performance Disclosure - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Pay vs Performance Disclosure

Cash and Cash Equivalents

$ (10,296)

^[1]

$ 18,250

^[1]

$ (2,915)

$ 56,784

[1]

Description of Business and Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates

Reclassification

Reclassification — Certain prior year amounts have been reclassified to be consistent with current year presentation within our financial statements.

Short-Term Investments

Restricted Cash

Fiduciary Funds-Restricted

Advertising

Fair Value of Financial Instruments

•Level 1 Inputs - Unadjusted quoted prices available in active markets for identical investments to the reporting entity at the measurement date.

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

As of September 30, 2023, the Company had the following financial instruments to which it had to consider both fair values and make fair value assessments:

Revenue Recognition and Contract Liabilities, EbixCash Exchanges, Insurance Exchanges, Risk Compliance Solutions, and Costs to Obtain and Fulfill a Contract

The Company determines revenue recognition by applying the following steps:

•identification of the contract, or contracts, with a customer;

•identification of the performance obligations in the contract;

•determination of the transaction price;

•allocation of the transaction price to the performance obligations in the contract; and

•recognition of revenue when, or as, we satisfy a performance obligation.

The Company assesses the terms of customer contracts, including termination rights, penalties (implied or explicit), and renewal rights.

EbixCash Exchanges

Gift Cards

EbixCash Travel Exchanges

EbixCash Money Transfer

Foreign Exchange and Outward Remittance Services

Consumer Payment Services

determinable. Certain biller agreements may include per-transaction or fixed periodic rebates, which EbixCash records as a reduction to revenue.

EbixCash Technology Services

Insurance Exchanges

Software-as-a-Service

Software Licenses

Software license revenues attributable to a software license that is a separate performance obligation are recognized at the point in time that the customer obtains control of the license.

Subscription Services

Transaction Fees

Professional Services

Risk Compliance Solutions ("RCS")

COI Creation and Tracking

Consulting Services

Costs to Obtain and Fulfill a Contract

recoverable from profit margin included in the contract.

Contract Liabilities

Accounts Receivable and the Allowance for Doubtful Accounts Receivable

The Company records a contract asset when revenue recognized on a contract exceeds the billings. The contract asset is transferred to receivables when the entitlement to payment becomes unconditional. These contract assets are primarily related to project-based revenue where we recognize revenue using the input method calculated using expected hours to complete the project measured against the actual hours completed to date.

Accounts Receivable and the Allowance for Doubtful Accounts Receivable

Management specifically analyzes accounts receivable, historical bad debts, write-offs, customer concentrations, customer credit-worthiness, current economic trends, and changes in our customer payment terms when evaluating the adequacy of the allowance for doubtful accounts.

Capitalized Software Development Costs

Costs of Services Provided

Goodwill and Indefinite-Lived Intangible Assets

Finite-lived Intangible Assets


Category						Life (yrs)
Airport contracts						4 - 20
Brand						3 - 15
Customer relationships						9
Database						5
Dealer networks						15 - 20
Developed technology						3 - 15
Non-compete agreements						3 - 15
Store networks						5 - 7
Trademarks						10

Foreign Currency Translation

Foreign Currency Translation — The functional currency is the U.S. Dollar for the Company's foreign subsidiaries in Dubai and Singapore.

Income Taxes

Income Taxes — Deferred income taxes are recorded to reflect the estimated future tax effects of differences between the financial statement and tax basis of assets, liabilities, operating losses, and tax credit carry forwards using the tax rates expected to be in effect when the temporary differences reverse. Valuation allowances, if any, are recorded to reduce deferred tax assets to the amount management considers more likely than not to be realized. Such valuation allowances are recorded for the portion of the deferred tax assets that are not expected to be realized based on the levels of historical taxable income and projections for future taxable income over the periods in which the temporary differences will be deductible. The Company applies the relevant Financial Accounting Standards Board ("FASB") accounting guidance on accounting for uncertainty in income taxes positions. This guidance clarifies the accounting for uncertainty in income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. In this regard we recognize the tax benefit from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.

Recent Relevant Accounting Pronouncements

Description of Business and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents and Restricted Cash



	As of
	September 30,
	2023		2022
	(In thousands)
Cash and cash equivalents	$	71,162	$	70,977
Restricted cash	10,465		7,990
Restricted cash included in other long-term assets	$	5,469	$	5,016
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$	87,096	$	83,983

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Additional information regarding the Company's assets and liabilities that are measured at fair value on a recurring basis is presented in the following tables:


	Fair Values at Reporting Date Using*
Descriptions	Balance, September 30, 2023		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets
Commercial bank certificates of deposits ($6.2 million is recorded in the long term asset section of the condensed consolidated balance sheets in "Other assets")	$	25,425	$	—	$	25,425	$	—
Mutual funds (recorded in the long term asset section of the condensed consolidated balance sheets in "Other assets")	115		115		—		—
Total assets measured at fair value	$	25,540	$	115	$	25,425	$	—

Liabilities


Contingent accrued earn-out acquisition consideration (a)	$	2,285	$	—	$	—	$	2,285
Total liabilities measured at fair value	$	2,285	$	—	$	—	$	2,285

(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected revenues and cash flows, rate of return, and probability assessments.
* During the nine months ended September 30, 2023, there were no transfers between fair value Levels 1, 2, or 3.


	Fair Values at Reporting Date Using*
Descriptions	Balance, December 31, 2022		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets
Commercial bank certificates of deposits ($6.4 million is recorded in the long term asset section of the condensed consolidated balance sheets in "Other assets")	$	37,434	$	—	$	37,434	$	—
Mutual funds	$	98	$	98	$	—	$	—
Total assets measured at fair value	$	37,532	$	98	$	37,434	$	—

Liabilities


Contingent accrued earn-out acquisition consideration (a)	$	2,299	$	—	$	—	$	2,299
Total liabilities measured at fair value	$	2,299	$	—	$	—	$	2,299

(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected revenues and cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2021, there were no transfers between fair value Levels 1, 2, or 3.

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation


Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent Liability for Accrued Earn-out Acquisition Consideration	September 30, 2023		December 31, 2022
	(In thousands)

Beginning balance	$	2,298	$	2,557

Total remeasurement adjustments:

Remeasurement against goodwill	—		—
Foreign currency translation adjustments **	(13)		(259)

Acquisitions and settlements
Business settlements	—		—

Ending balance	$	2,285	$	2,298

The amount of total (gains) losses for the period included in earnings or changes to net assets, attributable to changes in unrealized gains relating to assets or liabilities still held at period-end.	$	—	$	—


** recorded as a component of other comprehensive income within stockholders' equity

Schedule of Fair Value, Significant Unobservable Inputs Used in Measurement of Contingent Consideration Liabilities

The significant unobservable inputs used in the fair value measurement of the Company's contingent consideration liabilities designated as Level 3 are as follows:

(In thousands)

Fair Value at September 30, 2023

Valuation Technique

Significant
Unobservable
Input

Contingent acquisition consideration:

$2,285

Discounted cash flow

Projected revenue and
probability of achievement

(In thousands)

Fair Value at December 31, 2022

Valuation Technique

Significant
Unobservable
Input

Contingent acquisition consideration:

$2,298

Discounted cash flow

Projected revenue and
probability of achievement

Schedule of Disaggregation of Revenue

The following tables present revenue disaggregated by primary geographical regions and product/service channels for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,				Nine Months Ended September 30,
Revenue:	2023		2022		2023		2022
	(In thousands)
North America	38,067		38,934		114,657		118,605
International	81,161		218,970		365,762		676,333
	$	119,228	$	257,904	$	480,419	$	794,938

Geographical regions on net basis for comparative purposes (Non GAAP) for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,		Nine Months Ended September 30,
Revenue:	2023	2022	2023	2022
	(In thousands)
North America	38,067	38,934	114,657	118,605
International	81,161	81,565	239,074	216,337
	119,228	120,499	353,731	334,942

Schedule of Revenue by Product/Service Groups

Presented in the table below is the breakout of our revenue groups for each of those product/service channels for the three and nine months ended September 30, 2023 and 2022.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands)

Exchanges	99,291		237,396		419,235		736,255
Risk Compliance Solutions	19,937		20,508		61,184		58,683
Totals	$	119,228	$	257,904	$	480,419	$	794,938

Product/Services channels on net basis for Comparative purposes (Non GAAP) for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands)

Exchanges	99,291		99,991		292,547		276,259
Risk Compliance Solutions	19,937		20,508		61,184		58,683
Totals	$	119,228	$	120,499	$	353,731	$	334,942

Schedule of Contract with Customer, Asset and Liability


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Balance, beginning of period	$	1,284	$	1,822
Costs recognized from the beginning balance	(389)		(968)
Additions, net of costs recognized	264		430
Balance, end of period	$	1,159	$	1,284

This portion is recognized over the expected useful life of the customizations.


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Balance, beginning of period	$	46,126	$	41,357
Revenue recognized from beginning balance	(39,062)		(30,460)

Additions, net of revenue recognized and currency translation	41,028		35,229
Balance, end of period	$	48,092	$	46,126

Schedule of Finite-Lived Intangible Assets by Major Class, Estimated Useful Lives

We amortize these intangible assets on a straight-line basis over their estimated useful lives, as follows:


Category						Life (yrs)
Airport contracts						4 - 20
Brand						3 - 15
Customer relationships						9
Database						5
Dealer networks						15 - 20
Developed technology						3 - 15
Non-compete agreements						3 - 15
Store networks						5 - 7
Trademarks						10

Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation Between Basic and Diluted Earnings Per Share

A reconciliation between basic and diluted earnings per share ("EPS") is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands, except per share data)
Net income attributable to Ebix, Inc.	$	(10,296)	$	18,250	$	(2,915)	$	56,784
Basic weighted average shares outstanding	30,866		30,777		30,854		30,745
Dilutive effect of stock options and restricted stock awards	11		6		7		3
Diluted weighted average shares outstanding	30,877		30,783		30,861		30,748
Basic earnings per common share	$	(0.33)	$	0.59	$	(0.09)	$	1.85
Diluted earnings per common share	$	(0.33)	$	0.59	$	(0.09)	$	1.85

Geographic Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Revenue by Geographic Locations

The following enterprise-wide information relates to the Company's geographic locations:


	Nine Months Ended		As of		Nine Months Ended		As of
	September 30, 2023		September 30, 2023		September 30, 2022		December 31, 2022
	External Revenues		Long-lived assets		External Revenues		Long-lived assets
	(In thousands)
North America	114,657		386,198		118,605		374,891
International	365,762		816,912		676,333		785,746
	$	480,419	$	1,203,110	$	794,938	$	1,160,637

Enterprise-wide information relates to the Company's geographic locations on net basis for comparative purposes (Non GAAP)


	Nine Months Ended		As of		Nine Months Ended		As of
	September 30, 2023		September 30, 2023		September 30, 2022		December 31, 2022
	External Revenues		Long-lived assets		External Revenues		Long-lived assets
	(In thousands)
North America	114,657		386,198		118,605		374,891
International	239,074		816,912		216,337		785,746
	$	353,731	$	1,203,110	$	334,942	$	1,160,637

Goodwill, Finite-Lived, and Indefinite-Lived Intangibles (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill for the nine months ended September 30, 2023 and the year ended December 31, 2022 are reflected in the following table:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Beginning Balance	$	881,676	$	939,249
Additions	—		—
Purchase accounting adjustments	—		—
Foreign currency translation adjustments	$	(2,422)	(57,573)
Ending Balance	$	879,254	$	881,676

Schedule of Finite-Lived Intangible Assets

The carrying value of finite-lived and indefinite-lived intangible assets at September 30, 2023 and December 31, 2022 are as follows:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Finite-lived intangible assets:
Customer relationships	$	100,877	$	101,401
Developed technology	36,835		34,427
Dealer network	5,987		5,877
Airport contracts	3,968		3,992
Trademarks	2,653		2,651
Store networks	2,140		2,153
Brand	786		791
Non-compete agreements	701		702
Database	212		212
Backlog	140		140
Total intangibles	154,299		152,346
Accumulated amortization	(109,214)		(101,446)
Finite-lived intangibles, net	$	45,085	$	50,900

Indefinite-lived intangibles:	.
Customer/territorial relationships	16,647		16,647

Schedule of Indefinite-Lived Intangible Assets

The carrying value of finite-lived and indefinite-lived intangible assets at September 30, 2023 and December 31, 2022 are as follows:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Finite-lived intangible assets:
Customer relationships	$	100,877	$	101,401
Developed technology	36,835		34,427
Dealer network	5,987		5,877
Airport contracts	3,968		3,992
Trademarks	2,653		2,651
Store networks	2,140		2,153
Brand	786		791
Non-compete agreements	701		702
Database	212		212
Backlog	140		140
Total intangibles	154,299		152,346
Accumulated amortization	(109,214)		(101,446)
Finite-lived intangibles, net	$	45,085	$	50,900

Indefinite-lived intangibles:	.
Customer/territorial relationships	16,647		16,647

Other Current Assets (Tables)

9 Months Ended

Sep. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Other current assets at September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)


Prepaid expenses	$	73,443	$	71,449
Sales taxes receivable from customers	5,684		3,289
Other third party receivables	669		1,034
Credit card merchant account balance receivable	711		704
Short term portion of capitalized costs to obtain and fulfill contracts	451		486
Accrued interest receivable	570		651
Other	11,540		9,774
Total	$	93,068	$	87,387

Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Maturity of Finance Lease Liability

At September 30, 2023, the maturity of lease liabilities under Topic 842 "Leases" are as follows:


Year	Operating Leases		Financing Leases		Total
	(in thousands)
2023	929		36		965
2024	2,931		133		3,064
2025	2,191		19		2,210
2026	1,378				1,378
2027	624		—		624
Thereafter	1,106		—		1,106
Total	9,159		188		9,347
Less: present value discount*	(1,133)		(7)		(1,140)
Present value of lease liabilities	8,026		181		8,207

Less: current portion of lease liabilities	(2,739)				(2,739)
Total long-term lease liabilities	$	5,287	$	181	$	5,468

* The discount rate used was the incremental borrowing rates respective to the country where the assets are located.

Schedule of Maturity of Operating Lease Liability

At September 30, 2023, the maturity of lease liabilities under Topic 842 "Leases" are as follows:


Year	Operating Leases		Financing Leases		Total
	(in thousands)
2023	929		36		965
2024	2,931		133		3,064
2025	2,191		19		2,210
2026	1,378				1,378
2027	624		—		624
Thereafter	1,106		—		1,106
Total	9,159		188		9,347
Less: present value discount*	(1,133)		(7)		(1,140)
Present value of lease liabilities	8,026		181		8,207

Less: current portion of lease liabilities	(2,739)				(2,739)
Total long-term lease liabilities	$	5,287	$	181	$	5,468

* The discount rate used was the incremental borrowing rates respective to the country where the assets are located.

Schedule of Lease Cost

The lease cost is recognized in our condensed consolidated statements of income in the category of general and administrative and is summarized as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(in thousands)				(in thousands)
Operating Lease Cost	$	963	$	1,001	$	3,092	$	2,980
Finance Lease Cost:
Amortization of Lease Assets	32		41		106		135
Interest on Lease Liabilities	2		5		9		18
Finance Lease Cost	34		46		115		153
Sublease Income	(47)		(23)		(71)		(69)
Total Net Lease Cost	$	950	$	1,024	$	3,136	$	3,064

Schedule of Other Operating and Finance Lease Information

Other information about lease amounts recognized in our condensed consolidated statement of income is summarized as follows:


	September 30, 2023
Weighted Average Lease Term - Operating Leases	3.79 years
Weighted Average Lease Term - Finance Leases	1.39 years
Weighted Average Discount Rate - Operating Leases	8.2	%
Weighted Average Discount Rate - Finance Leases	5.4	%

Schedule of Other Commitments

Such arrangements represent further commitments of approximately $23.6 million as follows:


Year	Commitments
	(in thousands)
2023 (Remaining three months)	$	4,015
2024	8,947
Thereafter	$	10,685
Total	$	23,647

Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2023

Other Liabilities Disclosure [Abstract]

Schedule of Other Current Liabilities

Other current liabilities at September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023		December 31, 2022
	(Unaudited)
	(In thousands)
Customer advances (deposits)	$	22,528	$	23,631
Acquisition obligations (upfront purchase and contingent consideration)	1,585		2,153


Total	$	24,113	$	25,784

Description of Business and Summary of Significant Accounting Policies - Description of Business (Details)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Revenue Benchmark \| Geographic Concentration Risk \| International
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	76.10%	85.10%

Description of Business and Summary of Significant Accounting Policies - Going Concern (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Net assets (liabilities)	$ (506,500)
Revolving line of credit	444,902	$ 449,902
Regions Bank
Line of Credit Facility [Line Items]
Revolving line of credit	$ 616,800

Description of Business and Summary of Significant Accounting Policies - Short-Term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Short-term investments	$ 17,526	$ 17,438

Description of Business and Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Accounting Policies [Abstract]
Restricted cash	$ 10,465	$ 8,210	$ 7,990

Description of Business and Summary of Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash Shown in the Statement of Cash Flows (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 71,162	$ 110,637	$ 70,977
Restricted cash	10,465	8,210	7,990
Restricted cash included in other long-term assets	5,469		5,016
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$ 87,096	$ 124,959	$ 83,983	$ 114,764

Description of Business and Summary of Significant Accounting Policies - Fiduciary Funds (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Fiduciary funds - restricted	$ 1,835	$ 2,092

Description of Business and Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounting Policies [Abstract]
Advertising expense	$ 3.1	$ 2.4	$ 6.3	$ 6.7

Description of Business and Summary of Significant Accounting Policies - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Total assets measured at fair value	$ 25,540	$ 37,532
Liabilities
Contingent accrued earn-out acquisition consideration	2,285	2,299
Total liabilities measured at fair value	2,285	2,299
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Assets
Total assets measured at fair value	115	98
Liabilities
Contingent accrued earn-out acquisition consideration	0	0
Total liabilities measured at fair value	0	0
Significant Other Observable Inputs (Level 2)
Assets
Total assets measured at fair value	25,425	37,434
Liabilities
Contingent accrued earn-out acquisition consideration	0	0
Total liabilities measured at fair value	0	0
Significant Unobservable Inputs (Level 3)
Assets
Total assets measured at fair value	0	0
Liabilities
Contingent accrued earn-out acquisition consideration	2,285	2,299
Total liabilities measured at fair value	2,285	2,299
Certificates of Deposit
Assets
Available-for-sale Securities	25,425	37,434
Certificates of Deposit \| Fair Value, Recurring
Assets
Available-for-sale Securities	6,200	6,400
Certificates of Deposit \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Assets
Available-for-sale Securities	0	0
Certificates of Deposit \| Significant Other Observable Inputs (Level 2)
Assets
Available-for-sale Securities	25,425	37,434
Certificates of Deposit \| Significant Unobservable Inputs (Level 3)
Assets
Available-for-sale Securities	0	0
Mutual funds
Assets
Available-for-sale Securities	115	98
Mutual funds \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Assets
Available-for-sale Securities	115	98
Mutual funds \| Significant Other Observable Inputs (Level 2)
Assets
Available-for-sale Securities	0	0
Mutual funds \| Significant Unobservable Inputs (Level 3)
Assets
Available-for-sale Securities	$ 0	$ 0

Description of Business and Summary of Significant Accounting Policies - Assets and Liabilities Measured at Fair Value on a Recurring Basis using Significant Unobservable Inputs (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Contingent Liability for Accrued Earn-out Acquisition Consideration
Beginning balance	$ 2,298	$ 2,557
Remeasurement against goodwill	0	0
Foreign currency translation adjustments	(13)	(259)
Business settlements	0	0
Ending balance	2,285	2,298
The amount of total (gains) losses for the period included in earnings or changes to net assets, attributable to changes in unrealized gains relating to assets or liabilities still held at period-end.	$ 0	$ 0
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Foreign currency translation adjustments	Foreign currency translation adjustments

Description of Business and Summary of Significant Accounting Policies - Quantitative Information about Level 3 Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Contingent acquisition consideration	$ 2,285	$ 2,298	$ 2,557

Description of Business and Summary of Significant Accounting Policies - Revenue Recognition (Details)

3 Months Ended

9 Months Ended

Sep. 30, 2023

USD ($)

Sep. 30, 2022

USD ($)

Sep. 30, 2023

USD ($)

revenueStream

Sep. 30, 2022

USD ($)

Sep. 30, 2023

INR (₨)

productServiceGroup

Sep. 30, 2023

USD ($)

productServiceGroup

Number of product service channels | productServiceGroup

Maximum limit per gift card

₨ 10,000

$ 122

Term of virtual gift card

15 months

Term of physical gift card

3 years

Subscription contract term

3 years

Subscription contract renewal term

1 year

Number of revenue streams | revenueStream

$ 119,228,000

^[1]

$ 257,904,000

^[1]

$ 480,419,000

$ 794,938,000

Exchanges

Risk Compliance Solutions

99,291,000

237,396,000

419,235,000

736,255,000

19,937,000

20,508,000

61,184,000

58,683,000

Net Basis

119,228,000

120,499,000

353,731,000

334,942,000

Net Basis | Exchanges

Net Basis | Risk Compliance Solutions

99,291,000

99,991,000

292,547,000

276,259,000

19,937,000

20,508,000

61,184,000

58,683,000

North America

North America | Net Basis

38,067,000

38,934,000

114,657,000

118,605,000

38,067,000

38,934,000

114,657,000

118,605,000

International

International | Net Basis

81,161,000

218,970,000

365,762,000

676,333,000

$ 81,161,000

$ 81,565,000

$ 239,074,000

$ 216,337,000

[1]

Description of Business and Summary of Significant Accounting Policies - Costs to Obtain and Fulfill a Contract (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Capitalized contract costs, net, current	$ 451	$ 486
Capitalized contract costs, net, noncurrent	708	797
Deferred Contract Costs [Roll Forward]
Balance, beginning of period	1,284	1,822
Costs recognized from the beginning balance	(389)	(968)
Additions, net of costs recognized	264	430
Balance, end of period	$ 1,159	$ 1,284

Description of Business and Summary of Significant Accounting Policies - Contract Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Deferred revenue included in accounts receivables	$ 10,900	$ 8,000
Change in Contract Liabilities
Balance, beginning of period	46,126	41,357
Revenue recognized from beginning balance	(39,062)	(30,460)
Additions, net of revenue recognized and currency translation	41,028	35,229
Balance, end of period	$ 48,092	$ 46,126

Description of Business and Summary of Significant Accounting Policies - Accounts Receivable and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 156,302		$ 156,302		$ 154,533
Allowance for doubtful accounts	13,971		13,971		18,167
Non-current accounts receivable	10,512		10,512		0
Allowance for doubtful non-current accounts receivable	5,600		5,600
Bad debt expense (recovery)	1,300	$ (0)	3,104	$ 1,687
Billed Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	156,300		156,300		154,500
Unbilled Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 54,100		$ 54,100		$ 55,200

Description of Business and Summary of Significant Accounting Policies - Goodwill and Finite-lived Intangible Assets (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) segment reportingUnit	Dec. 31, 2022 USD ($)
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Goodwill, impairment loss \| $	$ 0	$ 0
Number of operating segments \| segment	1
Number of reporting units \| reportingUnit	1
Airport contracts \| Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	4 years
Airport contracts \| Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	20 years
Brand \| Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	3 years
Brand \| Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	15 years
Customer/territorial relationships \| Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	9 years
Database
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	5 years
Dealer networks \| Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	15 years
Dealer networks \| Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	20 years
Developed technology \| Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	3 years
Developed technology \| Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	15 years
Non-compete agreements \| Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	3 years
Non-compete agreements \| Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	15 years
Store networks \| Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	5 years
Store networks \| Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	7 years
Trademarks
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]
Finite-lived intangible asset, useful life	10 years

Description of Business and Summary of Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounting Policies [Abstract]
Foreign currency translation adjustment	$ 14,902	$ 35,499	$ 4,789	$ 90,126

Earnings per Share - Reconciliation between Basic and Diluted Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Earnings Per Share [Abstract]

Basic weighted average shares outstanding (in shares)

$ (10,296)

^[1]

$ 18,250

^[1]

$ (2,915)

$ 56,784

30,866

^[1]

30,777

^[1]

30,854

30,745

Dilutive effect of stock options and restricted stock awards (in shares)

Diluted weighted average shares outstanding (in shares)

30,877

^[1]

30,783

^[1]

30,861

30,748

Basic earnings per common share (in dollars per share)

$ (0.33)

^[1]

$ 0.59

^[1]

$ (0.09)

$ 1.85

Diluted earnings per common share (in dollars per share)

$ (0.33)

^[1]

$ 0.59

^[1]

$ (0.09)

$ 1.85

Potentially issuable shares with respect to stock option (in shares)

180

[1]

Business Combinations (Details) $ in Thousands	9 Months Ended	12 Months Ended
Business Combinations (Details) $ in Thousands	Sep. 30, 2023 USD ($) company	Dec. 31, 2022 USD ($) company	Dec. 31, 2021 USD ($)
Business Combination and Asset Acquisition [Abstract]
Number of businesses acquired \| company	0	0
Contingent acquisition consideration \| $	$ 2,285	$ 2,298	$ 2,557

Debt (Details)						9 Months Ended		12 Months Ended
Debt (Details)	Sep. 29, 2023	Aug. 31, 2023	Jul. 21, 2023	May 23, 2023	Feb. 21, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Aug. 05, 2014 USD ($)
Line of Credit Facility [Line Items]
Revolving line of credit						$ 444,902,000		$ 449,902,000
Prepayment of debt						6,341,000	$ 0
Deferred costs, current						3,287,000		469,000
Principal payments						30,527,000	$ 23,464,000
Working capital facility						$ 15,341,000		3,367,000
Bank Overdrafts \| Minimum \| India
Line of Credit Facility [Line Items]
Interest rate during period						9.00%
Bank Overdrafts \| Maximum \| India
Line of Credit Facility [Line Items]
Interest rate during period						10.00%
Regions Bank
Line of Credit Facility [Line Items]
Credit agreement, amount outstanding						$ 171,900,000
Revolving line of credit						616,800,000
Debt payments					$ 5,000,000
Regions Bank \| Secured Syndicated Credit Facility, Ninth Amendment
Line of Credit Facility [Line Items]
Credit card origination costs						$ 8,200,000
Regions Bank \| Secured Syndicated Credit Facility, Eighth Amendment
Line of Credit Facility [Line Items]
Credit card origination costs								1,200,000
Regions Bank \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit agreement, maximum borrowing capacity									$ 450,000,000
Payment path milestone, percent	0.6667
Annual increase in percentage rate			2.00%	1.50%	1.00%
Prepayment of debt					$ 5,000,000
Regions Bank \| Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Credit agreement, applicable margins (as a percent)		8.00%		7.50%
Regions Bank \| Revolving Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Credit agreement, applicable margins (as a percent)		7.00%		6.50%
Credit agreement, amendment fee percentage		0.0150
Regions Bank \| Revolving Credit Facility \| Secured Syndicated Credit Facility, Ninth Amendment
Line of Credit Facility [Line Items]
Line of credit, interest rate percentage						13.43%
Credit agreement, average amount outstanding during period						$ 444,900,000
Regions Bank \| Revolving Credit Facility \| Secured Syndicated Credit Facility, Eighth Amendment
Line of Credit Facility [Line Items]
Credit card origination costs						4,900,000		700,000
Regions Bank \| Revolving Credit Facility \| Secured Syndicated Credit Facility
Line of Credit Facility [Line Items]
Credit agreement, amount outstanding						444,900,000		$ 449,900,000
Line of credit, interest rate percentage								9.69%
Regions Bank \| Secured Term Loan \| Secured Syndicated Credit Facility, Ninth Amendment
Line of Credit Facility [Line Items]
Credit agreement, required payment						$ 5,000,000
Line of credit, interest rate percentage						13.43%
Outstanding balance						$ 171,900,000
Loans payable, current						$ 171,900,000
Line of credit facility, due						12 months
Principal payments						$ 22,500,000
Scheduled amortization payment						0
Regions Bank \| Secured Term Loan \| Secured Syndicated Credit Facility, Eighth Amendment
Line of Credit Facility [Line Items]
Credit card origination costs						$ 3,300,000		$ 500,000
Deferred costs, current								500,000
Outstanding balance								189,400,000
Loans payable, current								$ 189,400,000
Line of credit facility, due								12 months
Debt, weighted average interest rate								9.69%

Commitments and Contingencies (Details) ₨ in Thousands															9 Months Ended
Commitments and Contingencies (Details) ₨ in Thousands	Oct. 31, 2023 USD ($)	Jul. 11, 2023 USD ($)	Jun. 01, 2023 SGD ($) claimant	Feb. 17, 2022 EUR (€)	Oct. 01, 2021 USD ($)	Oct. 01, 2021 INR (₨)	Nov. 11, 2020 USD ($)	Nov. 11, 2020 INR (₨)	Sep. 08, 2020 USD ($)	Sep. 08, 2020 EUR (€)	Feb. 20, 2019 USD ($)	Feb. 20, 2019 INR (₨)	Feb. 11, 2019 USD ($) tranche	Feb. 11, 2019 INR (₨) tranche	Sep. 30, 2023 USD ($)	Sep. 30, 2023 SGD ($)	Sep. 30, 2023 INR (₨)	Oct. 09, 2023 USD ($)	Oct. 09, 2023 INR (₨)	Jan. 27, 2023 payment	Dec. 31, 2022 USD ($)	Oct. 01, 2019 USD ($)	Feb. 20, 2019 INR (₨)	Feb. 11, 2019 INR (₨)	Feb. 23, 2018	Feb. 21, 2018	Apr. 01, 2017
Business Acquisition [Line Items]
Contingent consideration liability															$ 2,285,000						$ 2,299,000
Subsequent Event \| Ebix Singapore
Business Acquisition [Line Items]
Performance bank guarantee, amount																		$ 3,940,000	₨ 325,000
ItzCash Shareholders vs. Ebix Group \| EbixCash Limited and EbixCash World Money Limited
Business Acquisition [Line Items]
Litigation settlement, amount awarded to other party															855,000	$ 187,681.06	₨ 70,550
ItzCash Shareholders vs. Ebix Group \| Pending Litigation
Business Acquisition [Line Items]
Number of other claimants \| claimant			17
Breaches of Share Purchase Agreement \| Pending Litigation
Business Acquisition [Line Items]
Damages awarded per claimant			$ 200,000
Breaches of Promoter, Employee and Investor SPA \| Pending Litigation
Business Acquisition [Line Items]
Damages awarded per claimant			$ 100,000
Resolution Plan
Business Acquisition [Line Items]
Percentage of creditors approving resolution plan																									75.36%	74.16%
Claimants vs. The Company and Zillious \| Pending Litigation
Business Acquisition [Line Items]
Damages sought by claimant							$ 3,030,000.00	₨ 250,000
Loss contingency accrual, payments to each claimant							1,510,000	125,000
Damages sought, salary to claimant							$ 7,300	₨ 600
Damages sought, interest percentage							18.00%	18.00%
Payments for legal settlements					$ 164,000	₨ 13,490
Claimants vs. The Company and Zillious \| Pending Litigation \| Balance Of Equity Stake
Business Acquisition [Line Items]
Litigation settlement, amount awarded to other party															3,030,000.00		250,000
Claimants vs. The Company and Zillious \| Pending Litigation \| Free Cash
Business Acquisition [Line Items]
Litigation settlement, amount awarded to other party															35,400		2,920
Claimants vs. The Company and Zillious \| Pending Litigation \| Cost Plus Interest
Business Acquisition [Line Items]
Litigation settlement, amount awarded to other party															$ 47,000		₨ 3,890
Claimants vs. The Company and Zillious \| Pending Litigation \| Earn Out
Business Acquisition [Line Items]
Damages sought by claimant							$ 606,000	₨ 50,000
Loss contingency accrual, payments to each claimant							$ 303,000	₨ 25,000
Amadeus vs. Ebix \| Pending Litigation
Business Acquisition [Line Items]
Litigation settlement, amount awarded to other party									$ 12,893,000
Advances from Amadeus																						$ 15,000,000
Advance on books									$ 13,300,000
Amadeus vs. Ebix \| Pending Litigation \| Advance
Business Acquisition [Line Items]
Litigation settlement, amount awarded to other party \| €										€ 12,061,814
Amadeus vs. Ebix \| Pending Litigation \| Product Services
Business Acquisition [Line Items]
Litigation settlement, amount awarded to other party \| €										€ 551,598.38
Amadeus vs. Ebix \| Settled Litigation
Business Acquisition [Line Items]
Loss contingency, damages awarded, value		$ 15,070,000.00		€ 12,060,000.00
Number of payments \| payment																				4
Damages awarded, interest				2.00%
Legal and other costs		$ 451.00		€ 400,000
Amadeus vs. Ebix \| Settled Litigation \| Subsequent Event
Business Acquisition [Line Items]
Payments for legal settlements	$ 9,000,000
Ebix Payment Services Private Limited
Business Acquisition [Line Items]
Ownership percentage																											80.00%
Ebix Payment Services Private Limited \| ItzCash Shareholders vs. Ebix Group
Business Acquisition [Line Items]
Percentage of remaining voting interests acquired															20.00%
Ebix Payment Services Private Limited \| ItzCash Shareholders vs. Ebix Group \| EbixCash Limited and EbixCash World Money Limited
Business Acquisition [Line Items]
Percentage of remaining voting interests acquired															20.00%
Zillious Solutions Private Limited
Business Acquisition [Line Items]
Ownership percentage													80.00%											80.00%
Number of tranches \| tranche													3	3
Business combination, consideration transferred													$ 6,060,000.00	₨ 500,000
Payments to acquire businesses													2,700,000	222,880
Revenue target													$ 3,640,000	300,000
Percentage of shares to be purchased in buy-out													0.20											0.20
Buy-out period													2 years											2 years
Business acquisition, revenue reported by acquired entity for last annual period													$ 2,300,000	₨ 190,000
Percentage of earnings before interest, taxes, depreciation													45.00%	45.00%
Loss contingency accrual, payments													$ 1,820,000	₨ 150,000
Zillious Solutions Private Limited \| Earn Out
Business Acquisition [Line Items]
Contingent consideration liability													606,000											₨ 50,000
Zillious Solutions Private Limited \| Additional Earn Out
Business Acquisition [Line Items]
Contingent consideration liability											$ 1,210,000												₨ 100,000
Zillious Solutions Private Limited \| Director
Business Acquisition [Line Items]
Director remuneration											$ 87,000	₨ 7,200
Zillious Solutions Private Limited \| Milestone One
Business Acquisition [Line Items]
Loss contingency accrual, payments													1,820,000	150,000
Zillious Solutions Private Limited \| Milestone Two
Business Acquisition [Line Items]
Loss contingency accrual, payments													$ 1,210,000	₨ 100,000
Zillious Solutions Private Limited \| Milestone Three
Business Acquisition [Line Items]
Loss contingency accrual, payments, percentage of profit after tax													20.00%											20.00%
Zillious Solutions Private Limited \| Claimants
Business Acquisition [Line Items]
Ownership interests													19.98%											19.98%
Zillious Solutions Private Limited \| Pending Litigation
Business Acquisition [Line Items]
Percentage of remaining voting interests acquired															20.00%

Income Taxes (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Dec. 31, 2022

Operating Loss Carryforwards

Income tax expense

$ 514

^[1]

$ 1,926

^[1]

$ 1,301

$ 6,108

Income tax expense related to discrete items

200

1,900

Income tax benefit before discrete items

$ 400

$ 620

Effective income tax rate excluding discrete items percent

(15.67%)

Additions for tax positions related to current year

$ 1,400

$ 146

$ 1,386

$ 146

Unrecognized tax benefits

$ 7,800

$ 6,400

Minimum

Operating Loss Carryforwards

Effective income tax rate percent

8.00%

Maximum

Operating Loss Carryforwards

Effective income tax rate percent

10.00%

[1]

Geographic Information - Revenue by Geographic Locations (Details)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2023

USD ($)

Sep. 30, 2022

USD ($)

Sep. 30, 2023

USD ($)

segment

Sep. 30, 2022

USD ($)

Dec. 31, 2022

USD ($)

Revenues from External Customers and Long-Lived Assets [Line Items]

Number of reportable segments | segment

$ 119,228

^[1]

$ 257,904

^[1]

$ 480,419

$ 794,938

Revenues from External Customers and Long-Lived Assets [Line Items]

1,203,110

$ 1,160,637

Net Basis

119,228

120,499

353,731

334,942

Revenues from External Customers and Long-Lived Assets [Line Items]

1,203,110

1,160,637

North America

38,067

38,934

114,657

118,605

North America | Net Basis

386,198

374,891

Revenues from External Customers and Long-Lived Assets [Line Items]

38,067

38,934

114,657

118,605

Revenues from External Customers and Long-Lived Assets [Line Items]

386,198

374,891

International

81,161

218,970

365,762

676,333

International | Net Basis

816,912

785,746

Revenues from External Customers and Long-Lived Assets [Line Items]

81,161

$ 81,565

239,074

$ 216,337

Schedule of Equity Method Investments [Line Items]

$ 816,912

$ 785,746

[1]

Investment in Joint Ventures (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

9 Months Ended

Feb. 29, 2016

Sep. 30, 2015

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Dec. 31, 2022

Allowance for doubtful accounts

$ 119,228

^[1]

$ 257,904

^[1]

$ 480,419

$ 794,938

13,971

$ 18,167

Amortization of acquired intangible assets

3,300

2,300

10,300

7,300

Related Party | IHC

Schedule of Equity Method Investments [Line Items]

Ebix Vayam JV | Related Party | Vayam

Accounts receivable

Schedule of Equity Method Investments [Line Items]

Allowance for doubtful accounts

143

205

349

726

Accounts receivable

11,800

11,600

5,700

EbixHealth JV | Related Party | IHC

Schedule of Equity Method Investments [Line Items]