Nuvei Results Presentation Deck
Reconciliation from IFRS to Non-IFRS Results - Adjusted EBITDA
(In thousands of U.S. dollars)
Net income (loss)
Finance cost
Finance income
Depreciation and amortization
Income tax expense
Acquisition, integration and severance costs (a)
Share-based payments (b)
Loss (gain) on foreign currency exchange
Legal settlement and other (c)
Adjusted EBITDA (d)
Advance from third party - merchant residual
received (e)
25
Three months
ended June 30,
2020
$
2021
$
38,914
3,432
(912)
20,740
6,120
4,500
4,953
1,691
(63)
79,375
3,138
13,965
24,083
(1,449)
17,020
558
1,208
402
(18,286)
(111)
37,390
2,719
Six months
ended June 30,
2020
$
2021
$
66,704
6,747
(1,771)
41,738
11,179
9,840
9,058
1,246
96
144,837
5,866
(48,378)
55,342
(2,795)
34,333
474
2,878
735
27,433
656
70,678
5,668
(a) These expenses relate to:
(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition activities and financing
activities. For the three months and the six months ended June 30, 2021, those expenses were $4.5 million and $9.8 million
respectively ($2.0 million and $3.2 million for the three months and the six months ended June 30, 2020). These costs are
presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation. For the three months and the six months ended June 30, 2021, those expenses were nil
($0.2 million and $0.5 million for the three months and the six months ended June 30, 2020). These costs are presented in
the employee compensation line item of selling, general and administrative expenses.
(iii) change in deferred purchase consideration for previously acquired businesses, which was nil for the three and the six months
ended June 30, 2021 (gain of $1.3 million for the three and the six months ended June 30, 2020).
(iv) severances and integration expenses. For the three months and the six months ended June 30, 2021, severances were
immaterial ($0.2 million and $0.4 million for the three months and the six months ended June 30, 2020). Severance expenses
are presented in the employee compensation line item of selling, general and administrative expenses.
These expenses represent non-cash expenses recognized in connection with stock options and other awards issued under share-
based plans.
(c) This line item primarily represents legal settlements and associated legal costs reached outside of the normal course of business,
as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in the other line item of the
selling, general and administrative expenses.
(d) Adjusted EBITDA is a non-IFRS measure that the Company uses to assess its operating performance and cash flows.
(e) Commencing in 2018, the Company entered into various agreements with a single third-party independent sales organization to
acquire the rights to future cash flows from a portfolio of merchant contracts.
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