Nuvei Results Presentation Deck
Reconciliation from IFRS to Non-IFRS Results – Adjusted EBITDA
-
(In thousands of U.S. dollars)
Net income (loss)
Finance cost
Finance income
Depreciation and amortization
Income tax expense (recovery)
(a)
Acquisition, integration and severance costs
(b)
Share-based payments
Loss (gain) on foreign currency exchange
Legal settlement costs and other(c)
(d)
Adjusted EBITDA
Advance from third party - merchant residual received (e)
40
Three months ended
March 31
2021
$
27,790
3,315
(859)
20,998
5,059
5,340
4,105
(445)
159
65,462
2,728
2020
$
(62,343)
31,259
(1,346)
17,313
(84)
1,670
333
45,719
766
33,287
2,948
(a) These expenses relate to:
(i) professional, legal, consulting, accounting and other fees and expenses related to our
acquisition activities and financing activities during the period, which were $5.3 million for
the three months ended March 31, 2021 (March 31, 2020 - $1.2 million). These costs are
presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation, which was nil for the three months ended March 31,
2021 (March 31, 2020 - $0.2 million). These costs are presented in the employee compensation
line item of selling, general and administrative expenses.
(iii) severances, which were immaterial for the three months ended March 31, 2021 (March 31,
2020 - $0.2 million), and integration expenses. Severance costs are presented in the employee
compensation line item of selling, general and administrative expenses.
(b) These expenses represent non-cash expenses recognized in connection with stock options and
other awards issued under share-based plans.
(c) This line item primarily represents legal settlements and associated legal costs reached outside
of the normal course of business, as well as non-cash gains, losses and provisions and certain other
costs. These costs are presented in the other line item of the selling, general and administrative
expenses.
(d) Adjusted EBITDA is a non-IFRS measure that the Company uses to assess its operating
performance and cash flows.
(e) Commencing in 2018, the Company entered into various agreements with a single third-party
independent sales organization to acquire the rights to future cash flows from a portfolio of
merchant contracts.
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