Embark Investor Presentation Deck
NON-GAAP RECONCILIATION: ADJUSTED EBITDA
Net Loss
Interest income and expense, net
Depreciation and amortization
Amortization of righ-of-use assets - operating leases
EBITDA
Stock-based compensation expense(¹)
Change in fair value of warrant liabilities (²)
One-time adjustment(³)
Upfront CEF commitment fee (noncash) (4)
Adjusted EBITDA
Embark Technology, Inc.
Reconciliation of Adjusted EBITDA
(in thousands)
(unaudited)
2)
3)
4)
$
Three Months Ended June 30,
2022
(14,324)
151
451
516
(13,206)
12,421
(24,253)
434
666
(23,938)
2021
(20,226)
1,637
252
(18,337)
537
4,773
(13,027)
$
Six Months Ended June 30,
2022
(32,771)
159
834
1,004
(30,774)
29,023
(46,409)
434
666
(47,060)
2021
(28,708)
1,607
474
(26,627)
1,099
4,773
(20,755)
1)
Reflects, for the periods presented, stock-based compensation expense related to the issuance of stock options, Restricted Stock Units (RSUS) including performance-based restricted stock units (PSUs) and Common Stock Units (CSUS)
to Embark employees and non-employees.
Reflects the decrease in the fair values of Embark's warrants.
Professional service fees incurred in connection with business combination in 2021.
Upfront commitment fee incurred in connection with committed equity facility ("CEF") in 2022.
EMBARK
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