Sema4 SPAC
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Non-GAAP EBITDA Reconciliation
Net loss.
Interest (income) expense, (1)
net
(2)
Gain on extinguishment of debt
Depreciation and amortization.
Stock-based compensation expense
(3)
Other (income) expense, net
COVID-19 costs (4)
Adjusted EBITDA.
$
$
2020
Year Ended December 31,
(241,340) $
1,968
11,734
120,231
(2,622)
3,179
(106,850) $
2019
(in thousands)
(29,704) $
(205)
6,407
5,482
(504)
2018
(23,872)
248
(4,500)
5,433
5,605
(539)
(18,524) $
(17,625)
(1) Represents the total of Interest Expense related to our capital leases and interest-bearing loans and Interest Income on money market funds.
(2) Represents a gain on debt extinguishment for the year ended December 31, 2018 related to principal loan forgiveness under one of our loan
agreements.
(3) For fiscal year 2020, consists of funding received under the CARES Act Provider Relief Fund, and sales and use taxes.
(4) Represents labor costs in respect laboratory employees' downtime. During the second quarter of 2020, we did not reduce the workforce in
our laboratory from COVID-19. However, we suffered significantly due to the decrease in volume in Women's Health and other products.
Accordingly, we have adjusted our Gross Profit to reflect the management-assessed impact from the decrease in productivity of existing
laboratory employees due to COVID-19 in the second quarter of 2020.
Net loss
Interest expense, net(¹)
Depreciation and amortization.
Stock-based compensation expense....
Transaction costs (2)
Other (income) expense, net(³)
COVID-19 costs(4)
Adjusted EBITDA....
$
Six Months Ended June 30,
2021
(in thousands)
(236,355) $
1,415
10,521
164,443
5,105
(5,584)
$ (60,455) $
2020
(59,042)
779
5,080
620
(2,617)
3,179
(52,001)
(1) Represents the total of Interest Expense related to our capital leases and interest-bearing loans and Interest Income on money
market funds.
(2) Represents professional service costs incurred in connection with pursuing the Business Combination transaction that did
not meet the requirement for capitalization.
(3) For the six months ended June 30, 2021 and 2020, consists of funding received under the CARES Act Provider Relief Fund.
(4) Represents labor costs with respect to laboratory employees' downtime. During the second quarter of 2020, we did not
reduce the workforce in our laboratory from COVID-19. However, we suffered significantly due to the decrease in volume
in Women's Health and other products. Accordingly, we have adjusted our Gross Profit to reflect the management-assessed
impact from the decrease in productivity of existing laboratory employees due to COVID-19 in the second quarter of 2020.
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