Lazydays RV Q3 2021 Investor Presentation
Reconciliation of Adjusted EBITDA
Page 14
($ in thousands)
2021 Q3 LTM
2020
2019
Net Income
$67,342
$14,626
$714
Interest expense, net
7,518
8,047
10,328
Depreciation and amortization of property
7,825
6,682
6,848
and equipment
Amortization of intangible assets
5,645
4,580
3,965
Income Tax Expense
24,643
10,364
1,097
Subtotal EBITDA
Floor plan interest
$112,973
$44,299
$22,952
(1,564)
(2,255)
(4,412)
LIFO adjustment
2,797
(93)
2,445
Transaction costs
1,929
935
865
Loss on sale of property and equipment
(6,626)
7
(11)
Impairment of retired rental units
(137)
0
439
Severance costs/other
0
0
773
Change in fair value of warrant liabilities
15,339
0
0
PPP loan forgiveness
(6,626)
0
0
Inducement loss on warrant conversion
246
0
0
Stock-based compensation
1,142
1,566
4,864
Adjusted EBITDA
$126,099
$58,953
$27,915
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