Selina SPAC
GAAP to Non-GAAP Reconciliation
$ in mm
Non-GAAP Bridge
Net Loss
(+) Income taxes
(+) Interest Expense, Net
(+) D&A
(-) Non-operating Income, Net¹
(+) Impairments
EBITDA
(-) Rent²
(+) Stock Based Compensation Expenses
(+/-) Other Income / (Expenses)
Adjusted Corporate EBITDA
(+) Corporate Overhead
(+) Pre-Opening and Cost of Non-Operated Spaces³
(+) Loss from Non-Selina Branded Operations
Unit Level EBITDA
Non-GAAP Revenue Bridge
GAAP Revenue
(+) Experience Revenue Gross Up (Partner Revenue)5
Non-GAAP Revenue
1. Add back of (i) Reversal of bad debt write-offs (ii) Gain on net monetary position and (iii) Share of loss in associates.
Selina rent concessions and (v) Government grants.
2. IFRS-16 lease accounting applied in GAAP figures. Rent expense is subtracted for Non-GAAP purposes.
2019
$ (105.1)
2.8
29.1
19.4
(3.6)
2.5
$ (55.0)
(19.6)
2.0
2.1
$(70.4)
60.9
5.6
7.6
$ 3.7
$66.0
2.6
$ 68.6
3. Add back of operating costs incurred prior to opening a new location as well as costs associated with physical space within opened
locations where that space is not operational.
4. Add back of net operating loss of non-branded Selina assets.
5. Add back of revenue generated from Experience partners, whereby Selina is paid a commission and is not entitled to the gross revenue.
2020
$ (139.3)
2.3
54.7
21.6
(6.5)
19.7
$ (47.5)
(15.9)
2.4
$ (61.1)
41.0
2.0
$ (18.0)
$ 35.2
0.8
$35.9
FINANCIAL HIGHLIGHTS
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