Kin SPAC Presentation Deck
Appendix - Additional Financial Information
Net Income to Adjusted Operating Income Walk for Management Operations (Kin Insurance, Inc. - Shareholder Interest)
($mm)
Net Income
Adjustments:
Depreciation & Amortization
Interest Expense, Net
Stock-based Compensation
Loss due to change in fair value
of warrant liabilities
Loss on extinguishment of
liabilities
Adjusted Operating Income¹
Q1
-3.5
kin.com | 89
0.1
0.3
0.1
I
-3.1
Q2
-4.2
0.1
0.3
0.1
0.0
0.5
-3.3
2020
Q3
-10.7
0.1
0.3
0.2
6.0
-4.1
Q4
-12.1
0.2
0.4
0.3
4.3
-6.9
Q1
-15.6
0.2
0.4
0.5
7.6
-6.9
2021
Q2
-19.3
0.2
0.5
0.4
11.2
I
-7.0
1: Adjusted operating income is defined as net loss excluding interest expense, income tax expense, depreciation, amortization, stock-based compensation, and other non-operating expenses. Other
non-operating expenses in 2020 and the six months ended June 30, 2021 include other non-cash fair market value adjustments for outstanding preferred stock warrants and derivative liabilities on the
convertible promissory notes
kin.
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