Sidoti Deck
Three Months Ended
September 30,
2023
2022
$
(2,739) $
(2,117)
32
341
Personnel costs (1)
903
17
Facility costs (2)
1,893
644
Amortization of intangibles
Reconciliation of GAAP Income (Loss) from Operations to Non-GAAP Adjusted Income
(Loss) from Operations and Non-GAAP Adjusted EBITDA
(in thousands)
NN, Inc. Consolidated
GAAP loss from operations
Professional fees
Personnel costs (1)
Facility costs (2)
(in thousands)
Mobile Solutions
GAAP loss from operations
Three Months Ended
September 30,
2023
2012
$
(1,283) $
(474)
462
1.569
344
838
838
Amortization of intangibles
3,563
3.587
Non-GAAP adjusted income from operations (a)
$
1.586
$
708
Non-GAAP adjusted income from operations (a)
$
3,652
S
2.472
Share of net income from joint venture
1,713
1,424
Non-GAAP adjusted operating margin (3)
2.9 %
1.9 %
Non-GAAP adjusted income from operations with JV (a)
S
3.299
$
2.132
Depreciation
8.014
7,607
Non-GAAP adjusted operating margin (3)
4.2 %
2.8 %
Other expense, net
1,463
1.156
Non-cash foreign exchange (gain) on inter-company loans
520
444
Depreciation
6.509
5,980
Change in fair value of preferred stock derivatives and warrants
(2,104)
(1.623)
Other income, net
(416)
(235)
Share of net income from joint venture
1.713
1,424
Non-cash foreign exchange (gain) on inter-company loans
152
139
Non-cash stock compensation
1.208
307
Share of net income from joint venture
1.713
1,424
Non-GAAP adjusted EBITDA (b)
$
14.466
S
11.787
Non-GAAP adjusted EBITDA (b)
$
9.544
$
8,016
Non-GAAP adjusted EBITDA margin (4)
11.6%
9.3 %
Non-GAAP adjusted EBITDA margin (4)
12.1 %
10.5 %
GAAP net sales
S
124,443 S
127,297
GAAP net sales
S
78,961
$
76.122
(in thousands)
Three Months Ended
September 30,
Three Months Ended
September 30,
2023
2012
S
(2) $
51
(1) Personnel costs include recruitment, retention, relocation, and severance costs
Facility costs include costs of opening/closing facilities and relocation / exit of
manufacturing operations
(3) Non-GAAP adjusted operating margin = Non-GAAP adjusted income (loss) from
operations/GAAP net sales
(4) Non-GAAP adjusted EBITDA margin = Non-GAAP adjusted EBITDA / GAAP net sales
Power Solutions
GAAP income from operations
Professional fees
2023
1021
(in thousands)
$
3,936 $
2.582
Elimination
174
GAAP net sales
Personnel costs (1)
122
Facility costs (2)
324
300
Amortization of intangibles
2.725
2.749
Non-GAAP adjusted income from operations (2)
$
7,107
$
5,805
(2)
Non-GAAP adjusted operating margin (3)
15.6 %
11.4 %
Depreciation
1,085
1,227
Other expense, net
75
98
Non-cash foreign exchange (gain) loss on inter-company loans
52
(37)
Non-GAAP adjusted EBITDA (b)
$
8,319
$
7,093
Non-GAAP adjusted EBITDA margin (4)
18.3 %
13.9 %
GAAP net sales
$
45,484
$
51,124
NN
NN Inc., Q3'23 Earnings | November 2023
22
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