Skillsoft SPAC Presentation Deck
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (S-4)
($M) (CONT'D)
Restructuring reduced debt by $1.5B+,
saving $100M+ in annual cash interest expense
Net Revenue
Impact of fresh-start and purchase accounting
One-time impact of the deconsolidation of Canada
Adjusted Net Revenue
Reseller Fees
Adjusted Gross Revenue
Net income (loss) - GAAP
Interest expense, net
Provision for income taxes
Depreciation and amortization
Impairment of goodwill and intangible assets
Impact of fresh-start and purchase accounting
EBITDA
Non-recurring retention and consulting costs
Recapitalization and transaction-related costs
Restructuring and contract terminations
Integration and migration related
Foreign currency and other non-cash expense
Other add backs
Adjusted EBITDA
skillsoft
Nine Months
Ended 10/31/20
$311
42
3
$355
$355
$2,725
176
61
58
332
(3,288)
$64
14
40
1
4
(4)
(0)
Source: S-4.
Calculation pursuant to credit agreement operative in those periods.
$120
Historical financials don't include any cost saving initiatives
that Company has undertaken or synergies
Skills oft
(-)
Nine Months
Ended 10/31/19
$386
$386
$386
($741)
320
8
83
439
$108
15
6
2
5
10
0
$147
(1)
(+)
FYE 1/31/20
$514
$514
$514
($849)
430
11
106
441
$138
10
16
3
6
11
0
$185
LTM (10/31/20)
$439
42
3
$483
$483
$2,617
286
64
81
334
(3,288)
$94
9
51
2
5
(4)
(0)
$157
Global Knowledge
(FYE 10/2/20)
$209
$209
29
$237
($101)
27
0
16
67
$9
2
3
LO
5
1
1
1
$23
Combined LTM
$647
42
3
$692
29
$721
$2,516
313
64
97
402
(3,288)
$104
12
53
7
6
1
$180
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