Embark Results 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 liability (2)
One time adjustment (³)
Upfront CEF commitment fee (noncash) (4)
Adjusted EBITDA
Embark Technology, Inc.
Reconciliation of Adjusted EBITDA
(in thousands)
(unaudited)
EMBARK
9/30/2022
$ (35,412)
(758)
604
837
(34,729)
10,919
(1,390)
480
$ (24,720)
6/30/2022
Three Months Ended
3/31/2022
$ (14,324) $ (18,447) $ (76,388)
151
4,413
318
451
516
(13,206)
12,421
(24,253)
434
666
$ (23,938) $ (23,138) $ (20,327)
(8)
383
488
(17,584)
16,602
(22,156)
12/31/2021
3) Professional service fees and other expenses incurred in connection with business combination in 2021 and equity financing in 2022.
4) Upfront commitment fee incurred in connection with committed equity facility ("CEF") in 2022. This fee settled by issuing Embark class A common stock.
(71,657)
44,171
8,206
(1,047)
9/30/2021
$ (19,117)
2,045
282
(16,790)
562
2,010
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.
2) Reflects the decrease in the fair values of Embark's warrants.
$ (14,218)
. 16View entire presentation