Investor Presentaiton
Non-GAAP Financial Measures
Adjusted EBITDA is defined as Net Income before other income, interest, taxes, and depreciation and amortization, excluding the non-recurring and non-cash items referenced above. We calculated "Adjusted EBITDA margins"
as Adjusted EBITDA divided by net sales. Vista Outdoor management believes adjusted EBITDA margin provides investors with an important perspective on the Company's core profitability and helps investors analyze
underlying trends in the Company's business and evaluate its performance on an absolute basis and relative to its peers. Adjusted EBITDA margin should be considered in addition to, and not as a substitute for, GAAP net
income margin. Vista Outdoor's definition may differ from that used by other companies.
Twelve months ended June 25, 2023
(in thousands)
Segment operating income (1)
Depreciation and amortization
Adjusted segment EBITDA
Adjusted segment EBITDA margin
Three months ended June 25, 2023
Sporting
Products
Outdoor
Sporting
Outdoor
Total
Total
Products
Products
Products
$108,464
6,399
$114,863
30.5%
$6,524
17,578
$24,102
7.6%
$114,988
23,977
$138,965
$484,610
25,104
$509,714
31.4%
$41,260
68,600
$109,860
8.2%
$525,870
93,704
$619,574
(in thousands)
Three months ended June 26, 2022
Sporting Outdoor
Products
Three months ended September 25, 2022
Sporting
Outdoor
Total
Total
Products
Products
Products
Three months ended December 25, 2022
Sporting Outdoor
Products
Total
Products
Products
Segment operating income (1)
Depreciation and amortization
Adjusted segment EBITDA
Adjusted segment EBITDA margin
$176,086
6,382
$182,468
35.7%
$27,686
11,807
$39,493
13.5%
$203,772
18,189
$221,961
$133,552
6,398
$139,950
32.4%
$29,729
15,543
$45,272
13.0%
$163,281
21,941
$185,222
$117,935
6,171
$124,106
30.9%
$13,475
17,598
$31,073
8.8%
$131,410
23,769
$155,179
$124,659
6,136
$130,795
31.6%
Three months ended March 31, 2023
Sporting Outdoor
Products
($8,468)
17,881
$9,413
2.9%
Fiscal year ended March 31, 2023
Sporting Outdoor
Total
Total
$116,191
24,017
$140,208
Products
$552,232
25,087
$577,319
32.8%
Products
$62,422
62,829
$125,251
9.5%
$614,654
87,916
$702,570
(in thousands)
Three months ended June 27, 2021
Sporting Outdoor
Products
Three months ended September 26, 2021
Sporting Outdoor
Three months ended December 26, 2021
Sporting Outdoor
Total
Total
Total
Products
Products
Products
Products
Products
Three months ended March 31, 2022
Sporting
Products
Fiscal year ended March 31, 2022
Outdoor
Total
Products
Segment operating income (1)
Depreciation and amortization
Adjusted segment EBITDA
$124,705
6,506
$131,211
36.0%
$42,945
8,768
$51,713
17.3%
$167,650
15,274
$182,924
$175,519
6,368
$181,887
40.4%
$42,724
9,128
$51,852
15.8%
$218,243
15,496
$233,739
$149,671
6,304
$155,975
33.9%
$42,277
11,537
$53,814
16.1%
$191,948
17,841
$209,789
$150,520
6,424
$156,944
33.8%
$36,548
12,594
$49,142
14.3%
$187,068
19,018
$206,086
Sporting
Products
$600,415
25,602
$626,017
Outdoor
Total
Products
$164,494
42,027
$206,521
$764,909
67,629
36.0%
15.8%
$832,538
Adjusted segment EBITDA margin
Fiscal year ended March 31, 2021
Sporting Outdoor
(in thousands)
Segment operating income (1)
Depreciation and amortization
Adjusted segment EBITDA
Adjusted segment EBITDA margin
Total
Products
Products
$222,713
23,292
$246,005
$137,943
37,934
$175,877
$360,656
61,226
$421,882
22.0%
15.9%
t have provided
(1) We do not calculate GAAP net income at the segment level, but have provided segment operating income and operating income margin as a relevant measurement of profitability. Segment operating income does not include interest expense and
taxes as well as other non-cash and non-recurring items. Segment operating income is reconciled to our consolidated net income in the segment income to consolidated net income reconciliation table included in this release.
OVISTA OUTDOOR
34View entire presentation