Investor Presentaiton
G
Non-GAAP Reconciliation
Important Disclosure Regarding Non-GAAP Measures
EBITDA and Adjusted EBITDA are not measures calculated in accordance with GAAP. EBITDA and Adjusted EBITDA are supplemental non-GAAP financial measures that are used by
management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define EBITDA as net income excluding net
interest, income tax and depreciation and amortization. We define Adjusted EBITDA as EBITDA excluding severance expenses, revaluation of tax receivable agreement, (gain) loss on debt
extinguishment, stock-based compensation, and equity offering expenses. We define Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of Revenue.
Our management believes EBITDA and Adjusted EBITDA are useful, because they allow management to more effectively evaluate our operating performance and compare the results of our
operations from period to period without regard to financing methods or capital structure, or other items that impact comparability of financial results from period to period. EBITDA and
Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, net income or any other measure as determined in accordance with GAAP. Our computations of
EBITDA and Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We present EBITDA and Adjusted EBITDA because we believe they provide
useful information regarding the factors and trends affecting our business.
($ in thousands)
Revenues
Product revenue
Rental revenue
Field service and other revenue
Total revenues
Costs and expenses
Cost of product revenue
Cost of rental revenue
Cost of field service and other revenue
Selling, general and administrative expenses
Total costs and expenses
Income from operations
Year Ended
December 31,
2017
2016
$189,091
77,469
$77,739
44,372
74,631
32,937
$341,191
$155,048
$124,030
$62,766
40,519
33,990
60,602
28,470
27,177
19,207
$252,328
$144,433
$88,863
$10,615
Depreciation and amortization
Product depreciation and amortization
$3,169
$2,869
Rental depreciation and amortization
14,912
15,121
Field service and other depreciation and amortization
4,786
2,659
Selling, general and administrative expense depreciation and amortization
Total depreciation and amortization
404
592
$23,271
$21,241
EBITDA
Product EBITDA
Rental EBITDA
Field Service EBITDA
Selling, general and administrative expense EBITDA
Total EBITDA
Stock-based compensation
Total Adjusted EBITDA
$68,230
$17,842
51,862
25,503
18,815
(26,773)
7,126
(18,615)
$112,134
$31,856
361
$112,134
$32,217
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