Sterling Results Presentation Deck
33
Appendix -Non-GAAP to GAAP Reconciliation
Adjusted Free Cash Flow
(in thousands)
Net Cash provided by Operating Activities
Total IPO adjustments (1)
Purchases of intangible assets and capitalized software
Purchases of property and equipment
Adjusted Free Cash Flow
$
2020
Year Ended
December 31,
36,185
(14,185)
(2,317)
19,683
2021
68,605
34,777
(15,860)
(3,234)
84,288
(1) Includes one-time, cash, non-operating charges related to the IPO. Costs included are $16.8 million of contractual compensation payments to form er executives, of which,
$15.6 million was funded by certain stockholders, $7.5 million final settlement of investor management fees in connection with the Fourth Amended and Restated
Management Services Agreement, and $10.5 million related primarily to professional fees and other expenses.
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