Paysafe: Advanced Suite of Digital Commerce Solutions
GAAP to Non-GAAP Reconciliation
($ in millions)
Organic Adjusted EBITDA
Unaudited
2019A
Unaudited
2018A
($ in millions)
Paysafe:
Organic Revenue
Unaudited Unaudited
2019A
2018A
Organic Adjusted EBITDA
468.6
442.0
Organic Revenue
1,389.7 1,227.4
Adjustments for acquired businesses (1)
(42.1)
Adjustments for acquired businesses
(1)
(130.0)
Adjustments for disposed or discontinued businesses (1)
(1.0)
8.1
Adjustments for disposed or discontinued businesses (1)
28.4
43.3
Individually immaterial items
(1.3)
Revenue
1,418.1
1,140.7
Adjusted EBITDA
466.3
408.0
Depreciation and Amortization
(279.8)
(234.3)
($ in millions)
Adjusted OPEX
Unaudited
2019A
Impairment Expense on Intangible Assets
(88.8)
Adjusted OPEX
417.4
Restructuring and Other Costs (2)
(50.7)
(57.8)
Adjustments for acquired businesses (1)
Gain on disposal of a subsidiary, net
4.8
Adjustments for disposed or discontinued businesses (1)
24.4
Operating Income
51.8
115.9
Individually immaterial items
1.3
Other (expense)/income, net
(13.9)
6.0
Selling, General and Administrative Expenses
443.1
Other interest expense, net
(164.6) (156.0)
Loss before taxes
Income tax benefit/(expenses)
(126.7)
(34.1)
14.8
(6.9)
Net Loss
(111.9)
(41.0)
Basis of Presentation: The historical non-GAAP measures used in this presentation have been reconciled to their most directly comparable GAAP financial measures derived from the unaudited consolidated income statements of Pi
Jersey Holdco 1.5 Limited for the years ended December 31, 2019 and 2018.
(1) These adjustments give effect to acquisitions and dispositions that occurred in the relevant reporting period as if such acquisitions and dispositions had occurred at the beginning of the relevant reporting period. These adjustments
have not been prepared in accordance with the applicable requirements of Rule 11-02 of Regulation S-X concerning pro forma financial information. See Slide 49 for additional information.
(2) Restructuring and other costs include acquisition costs related to the Company's merger and acquisition activity, restructuring costs, transaction costs and strategic transformation costs resulting from value creation initiatives
following business acquisitions, including certain professional advisory costs, office closure costs and resulting severance payments to employees.
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