Sonder Results Presentation Deck
Appendix
Adj. EBITDA Quarterly
Non-GAAP
Reconciliation
GAAP to Non-GAAP Bridges ($ in 000s)
Net Loss
Interest expense, net
Provision for income taxes
Depreciation and amortization
EBITDA
Stock-based compensation
Other expenses (income), net
COVID-19 related offboardings
Adjusted EBITDA²
memo: GAAP rent to Landlord Payments adjustment
memo: Capex allowance realized³
Prior Adj. EBITDA Methodology
(+) SBC, Other expenses (income),
COVID-19 related offboardings
(+) GAAP rent to LL payments adj.
(+) Capex Allowance realized
=
Net Loss
(+) Interest Expense, Income taxes, D&A
= EBITDA
Q1 2020
$(61,743)
$1,507
Adj. EBITDA
$4,152
$(56,084)
$3,067
$(10,993)
$(64,010)
$1,267
Q2 2020
$(60,799)
$1,669
$3
$4,206
$(54,921)
Q3 2020
$(55,514)
$1,658
$11
$4,269
$(49,576)
$1,020
$1,648
Q4 2020
$(72,260)
$1,568
$309
$4,342
$(66,041)
$1,394
$4,252
$1,360
$1,742
$4,862
$3,507
$5,008
$(44,810) $(41,900) $(59,035)
$3,765
$(5,693)
$5,577
Q1 2021 Q2 2021
$(78,541) $(73,949)
$3,827 $12,522
$23
$70
$4,119 $4,213 $4,357
$(70,572) $(57,144) $(46,815)
Q3 2021
$(64,584)
$13,279
$133
$14,153
$2,448
$3,642 $(3,577)
$3,573
$(4,229)
$(52,777)
$3,811
$531
=
$(58,273)
$3,188
$475
Updated Adj. EBITDA Methodology
Net Loss
(+) Interest Expense, Income taxes, D&A
= EBITDA
(+) SBC, Other expenses (income),
COVID-19 related offboardings
Adj. EBITDA
Memo: GAAP rent to LL Payments Adj.
Memo: Capex allowance realized
$(47,471)
$5,706
$1,915
Note: All references to Adjusted EBITDA in this document are based on our revised methodology as of September 2021. Adjusted EBITDA methodology prior to September 2021 utilized Non-GAAP rent (which accounted
for the benefit of rent abatement in the period in which it was received) and Non-GAAP Other Operating Expenses included the benefit of Capex Allowance in the period in which it was received. Adjusted EBITDA now
utilizes GAAP rent, which amortizes the benefit of both rent abatement and benefit of Capex Allowance over the term of the lease. Adjusted EBITDA is now defined as net loss excluding the impact of depreciation,
stock-based compensation, and COVID-19 pandemic related offboardings/other (costs associated with dropping units at the beginning of the COVID-19 pandemic).
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