Future Of Work Opportunity & Quarterly Financial Results
GAAP to non-GAAP reconciliation
US$ millions
Net loss
Income tax (benefit) provision
Q2'20
($1,110)
Q3'20
($999)
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
($1,168)
($2,062)
($923)
($844)
($803)
($504)
Q2'22
($635)
7
6
(2)
4
(2)
(2)
(1)
3
Interest and other (income) expenses, net
76
(38)
(105)
553
68
206
103
147
316
Depreciation and amortization
196
198
191
184
180
171
174
171
158
Restructuring and other related costs
81
19
52
494
(28)
16
(48)
(130)
(26)
Impairment (gain on sale) of goodwill, intangibles and other assets
280
254
546
299
242
88
241
91
36
Stock-based compensation expense
12
9
7
54
4
4
48
13
13
Other Net
22
24
7
29
4
5
4
1
1
Adj. EBITDA
Less: ChinaCo Adj. EBITDA
($436)
(39)
($527)
($472)
($446)
($449)
($356)
($283)
($212)
($134)
(35)
Adj. EBITDA Excluding ChinaCo
($397)
($492)
($472)
($446)
($449)
($356)
($283)
($212)
($134)
Q2'20
Location Gross Profit / (Loss) Including Depreciation & Amortization
Depreciation and amortization
($204)
Q3'20
($346)
Q4'20
($382)
Q1'21
($414)
Q2'21
($386)
Q3'21
($288)
Q4'21
Q1'22
Q2'22
($201)
($147)
($85)
166
174
181
175
170
162
164
158
150
Location Gross Profit / (Loss) Exclusive of Depreciation & Amortization
($38)
($172)
($201)
($239)
($215)
($125)
($37)
$11
$65
Unconsolidated management fee revenue
(1)
(1)
(3)
(4)
(1)
(2)
(2)
(3)
(5)
Stock-based compensation expense
3
1
1
9
1
1
5
2
2
Indirect location operating expenses
34
28
21
25
24
24
26
24
24
Building Margin
($2)
($144)
($183)
($209)
($192)
($103)
($9)
$34
$86
Q2'20
Q3'20
Q4'20
Net cash provided by (used in) operating activities
($355)
($249)
($439)
Purchase of property, equipment and capitalized software
Free Cash Flow
(323)
(274)
($678)
($523)
(192)
($631)
Q1'21
($541)
(129)
($670)
Q2'21
($618)
(42)
($660)
Q3'21
($380)
(61)
($441)
Q4'21
Q1'22
Q2'22
($373)
(105)
($478)
($338)
($197)
(74)
(101)
($412)
($298)
27
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