|
|
March 31, 2022 |
|
March 31, 2021 |
|||
Net income (loss) |
|
$ |
17,839 |
|
$ |
(500) |
|
Acquisition expenses1 |
|
|
- |
|
|
1,169 |
|
Stock compensation |
|
|
2,128 |
|
|
- |
|
Inventory step-up amortization |
|
|
3,241 |
|
|
277 |
|
Change in fair value of warrant liability2 |
|
|
(8,100) |
|
|
- |
|
Change in fair value of earnout share liabilities2 |
|
|
(18,970) |
|
|
- |
|
Integration, non-recurring, non-operating, cash, and non-cash costs3 |
|
|
1,878 |
|
|
1,114 |
|
Adjusted net income (loss) |
|
$ |
(1,984) |
|
$ |
2,060 |
|
1Represents expenses incurred related to business acquisitions; 2Represents the impacts from the change in fair value related to both the earnout share liability and the warrant liability associated with the business combination completed on December 23, 2021; 3Represents adjustments for other integration, non-recurring, non-operating, cash, and non-cash costs related primarily to integration costs for new acquisitions, severance, and management fees paid to our principal owner. |
|||||||
Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA |
|||||||
|
|
|
|||||
|
|
March 31, 2022 |
|
March 31, 2021 |
|||
Net income (loss) |
|
$ |
17,839 |
|
$ |
(500) |
|
| Depreciation and amortization |
|
|
6,208 |
|
|
3,526 |
|
| Interest expense, net |
|
|
1,500 |
|
|
2,114 |
|
| Income tax expense |
|
|
454 |
|
|
9 |
|
| Acquisition expenses 1 |
|
|
- |
|
|
1,169 |
|
| Inventory step-up amortization |
|
|
3,241 |
|
|
277 |
|
| Stock compensation |
|
|
2,128 |
|
|
- |
|
| Change in fair value of warrant liability 2 |
|
|
(8,100) |
|
|
- |
|
| Change in fair value of earnout share liabilities 2 |
|
|
(18,970) |
|
|
- |
|
| Integration, non-recurring, non-operating, cash, and non-cash costs 3 |
|
|
1,878 |
|
|
1,114 |
|
| Adjusted EBITDA |
|
$ |
6,178 |
|
$ |
7,709 |
|
| 1 Represents expenses incurred related to business acquisitions; 2 Represents the impacts from the change in fair value related to both the earnout share liability and the warrant liability associated with the business combination completed on December 23, 2021; 3 Represents adjustments for other integration, non-recurring, non-operating, cash, and non-cash costs related primarily to integration costs for new acquisitions, severance, and management fees paid to our principal owner. |
|||||||
