Pursuing Profitable Growth
($ IN MILLIONS)
Net Loss
APPENDIX: RECONCILIATION TO NON-GAAP ITEMS
2021
% OF
REVENUE
2020
% OF
REVENUE
2019
% OF
REVENUE
($181.4)
(47.2%)
($145.5)
(63.2%)
($23.6)
(19.7%)
Interest Expense, net
1.2
0.3%
1.3
0.6%
2.5
2.1%
Change in fair value of common stock
warrants liabilities
(87.9)
(22.9%)
23.0
10.0%
Stock-based Compensation
60.3
15.7%
23.8
10.3%
1.2
1.0%
Provision for Income Taxes
(19.0)
(4.9%)
0.1
0.0%
Depreciation and Amortization
11.1
2.9%
1.6
0.7%
0.7
0.6%
Other non-operating costs (income)
00
0.0
0.0%
21.4
9.3%
(3.6)
(3.0%)
Impairment charge
3.4
1.5%
Acquisition related expenses
8.0
2.1%
Loss contingency accrual
11.6
3.0%
One-time non recurring expenses
14.6
3.8%
4.7
2.0%
Adjusted EBITDA
($181.5)
(47.3%)
($66.1)
(28.7%)
($22.8)
(19.0%)
53
Note: The Company defines and calculates Adjusted EBITDA as net income (loss) before interest, other non-operating expense or income, (benefit) provision for income taxes, and depreciation and amortization, and further
adjusted for stock-based compensation and other special items determined by management, including, but not limited to, fair value adjustments for certain financial liabilities (including derivatives) associated with debt and equity
transactions, impairment charges, acquisition related expenses for transaction costs and certain loss contingency accruals. The Company's management believes Adjusted EBITDA is useful in evaluating its operating performance
and is a similar measure reported by publicly-listed U.S. competitors, and regularly used by security analysts, institutional investors, and other interested parties in analyzing operating performance and prospects.
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