Investor Presentaiton
Reconciliation of IFRS and Non-IFRS Results
Adjusted EBITDA
Net loss
Depreciation
Interest expense (income)
Foreign exchange loss (gain)
Fair value loss on financial instruments (1)
Listing fee
Forfeited SPAC transaction cost
Share-based compensation (2)
Adjusted EBITDA loss
2020
$(4,433)
378
(U.S. dollar amounts in thousands)
Three months ended October 31,
2021
$(204,969)
1,069
2,040
Year ended October 31,
2021
$(226,559)
2,899
2,970
2020
189
222
(336)
758
35,821
84
38,254
$(9,276)
1,095
495
(446)
84
152,719
152,719
2,000
1,588
$(11,510)
1,588
$(4,119)
$(25,370)
$(8,047)
(1) Fair value loss on financial instruments relates to warrants, convertible debt, and restricted share units liability.
(2) Share-based compensation relates to accelerated vesting of existing stock options upon completion of the Business Combination.
Li-Cycle reports its financial results in accordance with the International Financial Reporting Standards ("IFRS"). The Company makes references to certain non-IFRS
measures, including Adjusted EBITDA. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are
therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to
complement those IFRS measures by providing a further understanding of the Company's results of operations from management's perspective. Accordingly, they
should not be considered in isolation nor as a substitute for the analysis of the Company's financial information reported under IFRS. Li-Cycle defines Adjusted
EBITDA as earnings before depreciation and amortization, interest expense (income), income tax expense (recovery), foreign exchange (gain) loss, fair value (gain)
loss on financial instruments, and non-recurring expenses such as forfeited SPAC transaction cost, listing fee, and accelerated vesting of share-based
compensation related to the Business Combination.
Li-Cycle
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