GROWTH STRATEGY
APPENDIX
EBITDA Reconciliation
$ in 000s
Net Income (loss)
Other Income
Depreciation and Amortization
Interest Expense
Taxes
EBITDA
Management and Board of Director Fees
Restructuring Costs
Lease Abandonment Reserve Adjustment
Legal Settlement
Capital and M&A Related Expenses
Deferred Commission Expense
Non-Cash Accrued Compensation
Other, Net (1)
Adjusted EBITDA
Source: Company Information
Appreciate
Year Ended December 31,
2021
2020
($4,087)
($6,504)
(4,115)
(338)
4,808
4,734
1,557
1,748
46
21
(1,792)
(339)
506
499
182
5
0
255
264
150
432
20
101
291
359
0
146
45
$199
$927
(1) Other, Net includes for 2020A: bad debt expense, unit expense and gain on sale of assets; for 2021A: bad debt expense, holdover rent, 401(k) termination and transfer fees and placement fee
Private & Confidential
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