1Q21 Investor Update
ADJUSTED EBITDA DEFINITION
Adjusted EBITDA, which the Company defines as earnings
before interest, taxes, depreciation and amortization, as
adjusted by the Company for certain non-cash and non-
operating expenses, as well as certain one-time expenses,
is a financial measure not prepared in accordance with
generally accepted accounting principles ("GAAP"). In
order to calculate Adjusted EBITDA, the Company adjusts
the net (loss) income for certain non-cash and non-
operating income and expense items in order to measure
the Company's operating performance. The Company
believes that Adjusted EBITDA is an important measure
that supplements discussions and analysis of its operations
and enhances an understanding of its operating
performance.
22nd Century Group, Inc.
While management considers Adjusted EBITDA to be
important, it should be considered in addition to, but not
as a substitute for or superior to, other measures of
financial performance prepared in accordance with GAAP,
such as operating loss, net (loss) income and cash flows
from operations. Adjusted EBITDA is susceptible to varying
calculations and the Company's measurement of Adjusted
EBITDA may not be comparable to those of other
companies.
19View entire presentation