Olaplex Results Presentation Deck
NON-GAAP RECONCILIATION
Adjusted Net Income ($MM)
1.
2.
3.
Net Income
Amortization of intangible assets (excluding software)
Loss on debt extinguishment¹
Inventory write off and disposal²
Share-based compensation
Non-capitalizable IPO and strategic transaction costs³
Tax effect of adjustments
Adjusted net income
Adjusted net income per share:
Basic
Diluted
For the Quarter Ended March 31
2022
2021
$ 62
$ 45
12
12
19
4
2
(7)
$ 92
$0.14
$0.13
Q1 2022 EARNINGS
1
1
(2)
$57
$0.09
$ 0.09
Represents non-capitalizable professional fees and executive severance incurred in connection with the IPO and the Company's public company transition.
Adjusted SG&A($MM)
30
SG&A
Share-based compensation
Non-capitalizable IPO and
strategic transaction costs³
Adjusted SG&A
On February 23, 2022, the Company completed a successful refinancing of its existing secured credit facility with a new credit agreement comprised of a $675 million senior secured term loan facility and a $150 million senior secured revolving credit facility. This refinancing resulted in recognition
of loss on extinguishment of debt of $18.8 million which is comprised of $11.0 million in deferred financing fee write off, and $7.8 million of prepayment fees for the 2020 Credit Agreement.
For the Quarter Ended March 31
2021
2020
$ 23
$ 12
(2)
(1)
(1)
$ 10
The inventory write-off and disposal costs relate to unused stock of a product that the Company reformulated in June 2021 as a result of regulation changes in the E.U. In the interest of having a single formulation for sale worldwide, the Company reformulated on a global basis and is now
disposing of unused stock.
$ 21
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