Investor Presentaiton
Adjusted EBITDA and EBITDA Margin Reconciliation
($ in thousands)
2013
2016
2017
Contract Revenue
Net income (loss)
Income tax
Interest expense, net
Depreciation and amortization
EBITDA (1)
Stock-based compensation
Changes in cost estimate
2014
2015
2021
354,544 385,818 466,498 578,236 578,553 520,894 708,390 709,942 601,360
$331 $6,877 ($8,060) ($3,620) $400 ($94,422) ($5,359) $20,220 ($14,560)
($937) $3,175 ($2,519) $1,581 ($4,541) ($12,233) $1,868
$502
$512
$677 $3,116 $6,172 $5,720 $7,807 $6,455
$21,538 $23,451 $28,083 $34,162 $29,491 $31,799 $28,407
$21,444 $34,180 $20,620 $38,295 $31,070 ($67,049) $31,371
$2,141 $1,594 $2,277 $2,280 $2,303 $2,240 $2,753
$22,770
2018
2019
2020
$1,976
$4,737
$4,940
$27,217 $25,430
$54,150 $16,312
$1,998
$2,401
Reserve on disputed AR
$4,280
($898)
--
$69,483
Goodwill impairment charges
Legal settlement
ERP implementation
ISG initiative
Severance
Insurance recovery on disposal
of asset
($5,448)
--
--
$1,488
$4,925
$4,781
$369
$645
$175
$96
--
--
($2,859)
Tampa Property Sale
--
(6,435)
Adjusted EBITDA
$23,585
$35,774
$22,897
$40,575
$33,373 $26,276 $39,550
$54,423
$17,299
Profit margin (2)
Impact of income taxes
0.09%
(0.26%) 0.82%
1.78%
(1.73%)
(0.63%)
0.07%
(1.81%)
(0.76%)
2.85%
(2.42%)
(0.54%)
0.27%
(0.78%)
(2.34%) 0.26%
0.28%
0.08%
Impact of interest expense, net
0.14%
0.18%
0.67%
1.07%
1.00%
1.50%
0.91%
0.67%
0.82%
Impact of depreciation and
6.07%
6.08%
6.02%
5.91%
5.10%
6.10%
4.01%
3.83%
4.23%
amortization
Adjusted EBITDA margin (1)
6.65%
9.27%
4.91%
7.02%
5.77%
5.04%
5.58%
7.67%
2.88%
ORION
(1) EBITDA and Adjusted EBITDA are non-GAAP measures that represents earnings before interest, taxes, depreciation and amortization.
Adjusted EBITDA margin is a non-GAAP measure calculated by dividing Adjusted EBITDA by contract revenues.
(2) Profit margin is calculated by dividing Net income (loss) by contract revenue
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