ironSource SPAC
BUSINESS MODEL & FINANCIAL OVERVIEW
Adjusted EBITDA reconciliation
(S IN MILLIONS)
Income from Operations
Adjustments to Adjusted EBITDA:
(+) Depreciation and amortization
(+) Assets impairment
(+) Stock-based compensation expense
(+) Acquisition related costs
(+) Initial public offering costs
(-) Fair value adjustment related to contingent
consideration
Adjusted EBITDA
01
2019
$5
4
$13
01
2019
$12
3
$19
03
2019
$14
3
(1)
$19
Q4
01
2019 2020
$12
4
0
6
$23
$14
is ironSource compensation subject to continuing employment and other acquisition related costs
4
3
$20
02
2020
$14
3
$21
Q3
2020
$24
2
$30
Q4
2020
$23
5
5
$33
01
2021
$15
5
16
2
1
$40
Note: Numbers might defer due to rounding. "Depreciation and amortization include amortization of intangible assets acquired in business combinations
and capitalized software costs. The assets impaiment relates to ceased to be used capitalized software costs Stock-based compensation expense
represents compensation expenses related to stock options granted to certain of our employees and expence related to the CVC secondary transaction.
*Represents costs in connection with the acquisition of Soomla Inc. in January 2021 and Luna Labs Limited in February 2021. These costs include
FY
2019
$43
17
0
15
(1)
$74
FY
2020
$74
17
13
$104
FY
2021E
$45-50
24
68
11
1
.
$150-155
Confidential 56View entire presentation