Responsive Acquisition Marketing Platform (RAMP)
Net Income to Pro Forma Billings
Adj. EBITDA Reconciliation
S1 Holdco GAAP Net Income
Taxes
Interest
D&A
S1 Holdco GAAP EBITDA
2018
($2)
2019
$24
1
2020
$16
2
($ in millions)
Non-cash adjustments related to
foreign exchange and asset disposals
19
26
24
2
Comprised of distributions to equity
holders and non-cash stock based
compensation
6.
11
14
$23
$62
$56
3
Business lines discontinued in 2020
1
1
о
1
Other Income/Expense
2
Stock-Based Compensation
3 Discontinued Business Lines
Non-Recurring & Restructuring
5
Acq-Related Adjustments (includes Protected)
14
12
9
4
(6)
(1)
1
Includes acquisition related fees and
other non-recurring charges
1
(9)
(17)
112
12
3
13
Pre-acquisition EBITDA for acquired
businesses
Pro Forma Adj. EBITDA
$45
$68
$62
6
Adjustment for Difference Between GAAP Revenue and Billings
Pro Forma Billings Adj. EBITDA
$7
$7
$11
$18
GAAP to billings adjustment for
subscription business
$52
$79
$80
S1
Note: Pro Forma Billings Adj. EBITDA is a billings based metric with respect to subscription revenue. Historical periods include pro forma consolidation of pre-acquisition results.
This metric adjusts our similarly titled financial metrics for differences between revenues and billings. The company is not able to reasonably reconcile Pro Forma Billings Adj.
EBITDA to net income for 2021 and 2022 due to the uncertainty around certain components of GAAP Net Income, including the future mix of subscription terms for existing and
new customers, and stock based compensation.
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