Investor Presentaiton
Reconciliation of CMTL GAAP to Non-GAAP Financial Measures
911
Admisted EBITDA
Q1 2020
Q2 2020
Q3 2020
Q4 2020
0000
Reported net income (loss)
$
6,388 $
3,495 $
(3,989) $
Q1 2021
1,126 $ (85,840) $
Q2 2021
4,205 $
Q3 2021
792
Q4 2021
$
7,363
Income tax expense (benefit)
1,145
1,117
(759)
787
(2,239)
(155)
316
578
Net interest expense & other
1,727
1,622
1,612
903
2,363
1,352
1,242
1,725
Stock-based compensation expense
879
1,238
981
6,177
699
1,287
1,204
6,793
Depreciation and amortization
7,857
7,950
8,167
8,182
8,118
7,252
7,584
7,445
Estimated contract settlement costs
230
(262)
476
Acquisition plan expenses
2,389
6,025
5,983
6,357
91,183
3,357
5,267
485
Restructuring costs
601
594
1,587
COVID-19 related costs
160
416
470
Strategic emerging technology costs
315
Adjusted EBITDA
$
20,615 $
21,185 $
12,471 $
23,532 $
14,284 $
18,059 $
17,730 $ 26,446
Operating Income
Q1 2020
Q2 2020
Operating income (loss)
$
9,260
$
Acquisition plan expenses
2,389
6,234 $
6,025
Q3 2020
(3,136) $
5,983
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
2,816 $ (85,716) $ 5,402 $
6,357
91,183
2,350 $
9,666
3,357
5,267
485
Restructuring costs
601
594
1,587
COVID-19 related costs
160
416
470
Strategic emerging technology costs
315
Estimated contract settlement costs
230
(262)
476
Adjusted operating income
$
11,879
$
11,997 $ 3,323
$
9,173
$
5,467 $
9,520 $
8,942 $ 12,208
Net Income (loss)
Q1 2020
Q2 2020
Net income (loss)
$
Acquisition plan expenses
6,388 $
1,840
3,495 $
4,639
Q3 2020
(3,989) $
4,128
Q4 2020 Q1 2021
1,126 $ (85,840) $
4,005
Q2 2021
Q3 2021
Q4 2021
4,205 $
792 $
7,363
88,270
2,786
4,661
(3,106)
Restructuring costs
499
526
1,074
COVID-19 related costs
133
368
337
Strategic emerging technology costs
279
(24)
Estimated contract settlement costs
177
(202)
328
Interest expense ("ticking fee")
1,016
(133)
Net discrete tax (benefit) expense
Adjusted net income
$
(588)
7,817 $
57
7,989 $
713
1,180 $
79
5,210 $
246
(843)
189
697
3,692 $
6,780 $ 6,815
6,208
Notes
(1)
32 (2)
See statement regarding the use of Non-GAAP financial measures in the front and on the last slide of this presentation.
Dollar amounts in thousands. Comtech's fiscal year end is July 31.
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