Investor Presentation
Appendix - Reconciliation of Non-GAAP Measures
The table below reconciles net loss to EBITDA and Adjusted EBITDA for the quarters ended
December 31, 2022, September 30, 2022, and December 31, 2021.
For the Three Months Ended
September 30,
2022
For the Year Ended
December 31, December 31,
2021
2022
66,243
194,210
(310,985) $
10,424
(34,033)
10,093
6,560
(317,941)
6,135
9,518
28,877
24,121
12,789
81,440
4 TERRASCEND
Revenue, net
Net loss
Add (deduct) the impact of:
Loss (income) from discontinued operations
Provision for income taxes
Finance expenses
Amortization and depreciation
EBITDA from continuing operations
Add (deduct) the impact of:
Relief of fair value upon acquisition
Non-cash write downs of inventory
Vape recall
Share-based compensation
Impairment of goodwill and intangible assets
Impairment of property and equipment and loss on
disposal of fixed assets
Loss on lease termination and derecognition of
ROU asset
(Gain) loss from revaluation of contingent
consideration
Restructuring costs and executive severance
Legal settlements
Other one-time items
Bad debt expense write offs in Michigan
Loan modification fees
Employee retention credits
Gain on extinguishment of debt
Gain on fair value of warrants and purchase option
derivative asset
December 31,
2021
CSE: TER | OTCQX: TRSSF)
$
Indemnification asset release
Unrealized and realized gain on investments
Unrealized and realized foreign exchange loss
Adjusted EBITDA from continuing operations $
Adjusted EBITDA Margin from continuing
operations
45,947
(5,927)
4,773
6,940
5,987
3,511
15,284
1,735
1,548
56
3,278
932
90
3,583
(14,189)
613
228
13,158
28.6%
$
$
415
2,705
331,242
(81)
36
427
1,311
(5,497)
(234)
586
12,969
19.6%
December 31,
2022
$
69,041
(12,522) $
10,572
14,819
12,046
5,046
29,961
1,638
(20,158)
241
1,162
(1,250)
45
623
998
9,941
2,507
(9,440)
(4,153)
32
(34)
99
12,212
17.7%
$
3,465
449
14,941
8,640
312
3,278
3,584
816
1,590
6,070
(57,904)
4,504
(6,192)
4,654
69,647
35.9%
$
$
247,829
(325,351)
25,949
(10,783)
39,059
22,624
(248,502)
2,770
5,894
2,965
12,162
311,084
1,089
1,162
(1,061)
472
623
5,207
9,941
2,507
(9,440)
(4,153)
(58,523)
3,973
(43)
712
38,839
15.7%
P.28View entire presentation