Accolade Results Presentation Deck
17
Reconciliations of Revenue to Adjusted Gross Profit &
Net loss to Adjusted EBITDA
djusted EBITDA is a non-GAAP financial measure that we define as net loss adjusted to exclude interest expense (net), income tax expense (benefit),
depreciation and amortization, stock-based compensation, and acquisition and integration-related costs. We believe Adjusted EBITDA provides investors with
useful information on period-to-period performance as evaluated by management and comparison with our past financial performance. We believe Adjusted
EBITDA is useful in evaluating our operating performance compared to that of other companies in our industry, as this measure generally eliminates the effects of
certain items that may vary from company to company for reasons unrelated to overall operating performance.
Adjusted Gross Profit, Adjusted Gross Margin and Adjusted EBITDA have certain limitations, including that they exclude the impact of certain non-cash charges,
such as depreciation and amortization, whereas underlying assets may need to be replaced and result in cash capital expenditures, and stock-based compensation
expense, which is a recurring charge. These non-GAAP financial measures may also not be comparable to similarly titled measures of other companies because
they may not calculate such measures in the same manner, limiting their usefulness as comparative measures. In evaluating these non-GAAP financial measures,
you should be aware that in the future we expect to incur expenses similar to the adjustments in this presentation. Our presentation of non-GAAP financial
measures should not be construed as an inference that our future results will be unaffected by these expenses or any unusual or nonrecurring items. When
evaluating our performance, you should consider these non-GAAP financial measures alongside other financial performance measures, including the most directly
comparable GAAP measures set forth in the reconciliation tables below and our other GAAP results.
The following tables present, for the periods indicated, reconciliation of our revenue to Adjusted Gross Profit and net loss to Adjusted EBITDA.View entire presentation