Proforma 2023 Guidance and Long-Term Model
Reconciliation of GAAP to Non-GAAP Financial Measures
LBF US Divestiture PROFORMA³
FY22
Gross bookings
2,148,801
Divested LBF US gross bookings
Proforma gross bookings
244.167
1,904,634 611,746
1Q23
668,079
56.333
2Q23
679,244
3Q23
597,451
29.781
649,463
597,451
YoY growth
52%
23%
15%
QoQ growth
36%
6%
(8)%
Proforma take rate
6.7%
7.4%
8.4%
9.1%
Net revenue
159,484
49,929
56,771
54,532
Divested LBF US Net Revenue
32.784
4,519
2,226
Proforma net revenue
126,700
45,410
54,545
54,532
YoY growth
54%
56%
66%
QoQ growth
54%
20%
―%
Adjusted EBITDA
11,881
4,157
4,438
5,501
Divested LBF US adjusted EBITDA
(5,314)
(4,372)
(881)
Proforma adjusted EBITDA
17,195
8,529
5,319
5,501
Adjusted EBITDA Margin
13.6%
18.8%
9.8%
10.1%
Net income (loss)
(90,238)
(12,915)
(14,608)
(20,099)
Divested LBF US net income (loss)
Proforma net income (loss)
(9,142)
(5,296)
(1,303)
(81,096)
(7,619)
(13,305)
(20,099)
Divested LBF US Adjusted EBITDA
Reconciliation
FY22
1Q23
2Q23
3Q23
Divested LBF US net income (loss)
(9,142)
(5,296)
Depreciation & amortization
685
172
(1,303)
172
One-time expenses
3,143
752
250
Divested LBF US adjusted EBITDA
(5,314)
(4,372)
(881)
'Net loss per share (EPS) includes cumulative dividends allocated to preferred stock holders.
2 Adjusted loss per share for 2022 and 2023 interim periods are updated by including the impact of cumulative dividends
allocated to preferred stock holders and the anti-dilutive effect of diluted shares.
3
The unaudited pro forma financial information presented the results of operations as if the divestiture of LBF US was
consummated on January 1, 2022. These unaudited pro forma results are presented for informational purposes only and
are not necessarily indicative of what the actual results of operations of the company would have been if the divestiture
had occurred at the beginning of the period presented, nor are they indicative of future results of operations.View entire presentation