Electriq Power - Sustainable Community Networks Overview
NON-GAAP FINANCIAL MEASURES
electriq
power
This Presentation contains certain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial
position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented
in accordance with GAAP. Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables.
Our non-GAAP financial measures presented are EBITDA and Adjusted EBITDA. We define EBITDA as net loss plus interest expense, interest income (benefit), income tax
expense, depreciation and amortization and Adjusted EBITDA as EBITDA plus the net change in the fair value of derivatives including the change in the fair value of outstanding
notes and warrants, non-cash equity-based compensation expense and transactions costs.
We use these non-GAAP financial measures to analyze our operating performance and future prospects, develop internal budgets and financial goals, and facilitate period-to-
period comparisons. We believe that these non-GAAP financial measures reflect an additional way of viewing our operations that, when viewed with our GAAP results, provide a
more complete understanding of factors and trends affecting our business. However, these non-GAAP financial measures do not reflect a comprehensive system of accounting,
differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. In
addition, these non-GAAP measures have limitations in that they do not reflect all the amounts associated with our results of operations as determined in accordance with
GAAP. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance
with GAAP.
The following table reconciles net loss to EBITDA and Adjusted EBITDA for the three months ended September 30, 2023 and 2022, respectively (in thousands):
Net loss
Interest expense
Interest income
Income tax expense
Three Months Ended September 30,
2023
2022
(19,953)
1,292
(10,163)
918
(116)
$ Change
% Change
(9,790)
NM
374
41%
(116)
NM
Depreciation and amortization
42
31
11
35%
EBITDA
(18,735)
(9,214)
(9,521)
NM
Stock-based compensation
493
287
206
72%
Unrealized fair value adjustments
14,895
5,170
9,725
NM
Adjusted EBITDA
(3,347)
(3,757)
410
11%
NM = Not Meaningful
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