Olaplex Results Presentation Deck
NON-GAAP RECONCILIATION
Adjusted EBITDA (SMM)
1.
2.
3.
Net Income
Loss on debt extinguishment¹
Income tax provision
Depreciation and amortization of intangible assets
Interest expense
Inventory write off and disposal²
Share-based compensation
Non-capitalizable IPO and strategic transaction costs³
Adjusted EBITDA
Adjusted EBITDA margin
For the Quarter Ended March 31
2022
2021
$ 62
$ 45
19
16
12
11
4
2
$ 126
67.9%
Q1 2022 EARNINGS
11
13
15
1
1
$ 86
72.6%
Represents non-capitalizable professional fees and executive severance incurred in connection with the IPO and the Company's public company transition.
Adjusted Gross Profit ($MM)
29
Gross Profit
Inventory write off and disposal²
Amortization of patented
formulations
Adjusted Gross Profit
For the Quarter Ended March 31
2020
2021
$ 141
$94
4
2
$ 147
On February 23, 2022, the Company completed a successful refinancing of its existing secured credit facility with a new credit agreement comprised of a $675 million senior secured term loan facility and a $150 million senior secured revolving credit facility. This refinancing resulted in recognition
of loss on extinguishment of debt of $18.8 million which is comprised of $11.0 million in deferred financing fee write off, and $7.8 million of prepayment fees for the 2020 Credit Agreement.
The inventory write-off and disposal costs relate to unused stock of a product that the Company reformulated in June 2021 as a result of regulation changes in the E.U. In the interest of having a single formulation for sale worldwide, the Company reformulated on a global basis and is now
disposing of unused stock.
2
$96
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