Investor Presentaiton
ADJUSTED EBITDA RECONCILIATION
Fiscal Year
Year To Date
($ in Millions)
2018
2019
2020
2021
Q2'21
Q2'22
Net Income
$85.4
$94.5
$91.7
$163.8
$82.3
$101.5
Provision for Income Taxes
5.5
14.1
12.8
24.6
10.8
14.9
Depreciation & Amortization
14.2
17.6
33.9
43.4
21.0
24.4
Stock-Based Compensation
7.3
6.9
8.6
13.9
5.9
7.1
Patent Litigation Related Expenses
7.2
4.4
2.0
0.8
0.5
0.2
Other Acquisition and Integration Related Expenses (1)
0.9
2.7
14.9
5.5
2.8
1.2
Strategic Transformation Costs (2)
1.7
2.8
3.4
1.3
2.3
Tax reform implementation costs
Interest and Other Expense, Net
0.5
0.2
3.6
4.1
9.6
8.5
5.5
8.2
Adjusted EBITDA
$124.6
$146.2
$176.3
$263.9
$130.1
$159.9
Divided by Sales
$619.2
$751.0
Adjusted EBITDA margin
20.1%
19.5%
$890.6
19.8%
$1,299.1
$609.3
$784.7
20.3%
21.3%
20.4%
(1) Represents various acquisition-related costs and expenses incurred to integrate acquired entities into the Company's operations, excluding $114 in stock-
based compensation for the six month period ended July 1, 2022, and $161 and $321 of stock-based compensation for the three and six month periods ended
July 2, 2021, respectively.
(2) Represents costs associated with various strategic initiatives including the expansion of the Powered Vehicles Group's manufacturing operations. For the
three and six month periods ended July 1, 2022, $663 and $2,339 is classified as costs of sales, respectively. For the three and six month periods ended July 2,
2021, $781 and $1,289 is classified as cost of sales, respectively.
*Amounts may not foot due to rounding.
** Footnote amounts are in thousands
FOX FACTORYView entire presentation