AgroFresh Results Presentation Deck
(in thousands)
GAAP net loss including non-controlling interest
Depreciation and amortization
Interest expense
Income taxes (benefit) expense
Non-GAAP EBITDA
Share-based compensation
Severance related costs (2)
Other non-recurring costs (3)
Loss (gain) on foreign currency exchange (4)
Other income (5)
Impairment of goodwill
Debt modification costs
Litigation settlement
Total Adjustments
Non-GAAP Adjusted EBITDA
(1)
(2)
(4)
(5)
Three Months Ended June 30,
2021
2022
(in thousands)
GAAP net sales
Impact from changes in foreign currency exchange rates
Non-GAAP constant currency net sales (¹)
($18,369)
11,448
5,092
(3,058)
(4,887)
1,327
771
324
4,878
7,300
$2,413
($17,280)
11,178
5,216
144
(742)
280
1,587
754
(921)
1,700
$958
$25,752
1,417
$27,169
Six Months Ended June 30,
2022
2021
-
($21,538)
22,892
10,039
The following is a reconciliation between net sales on a non-GAAP constant currency basis to GAAP net sales:
Three Months Ended June 30,
2022
2021
$21,924
$21,924
(3,222)
8,171
2,315
844
510
6,074
(515)
9,228
$17,399
($9,096)
22,600
11,106
1,967
26,577
1,171
1,587
1,520
(1,354)
Interest on debt and accretion for debt discounts.
Severance costs related to restructuring and cost optimization initiatives.
Costs related to certain professional and other infrequent or non-recurring fees, including those associated with restructuring, litigation and M&A related fees.
Relates to net gains and losses resulting from transactions denominated in a currency other than the Company's functional currency.
Relates to non-recurring data compensation income.
2022
(14,392)
(11,468)
$15,109
Six Months Ended June 30,
2021
$65,641
2,648
$68,289
$60,916
Twelve Months Ended June 30,
2022
2021
$60,916
($18,524)
40,556
20,707
2,870
45,609
4,357
1,549
1,305
5,332
(214)
6,380
18,709
$64,318
(34,141)
46,426
21,296
29,188
62,769
3,008
2,398
2,377
2,557
5,028
(14,392)
(11,468)
$63,745
The Company provides net sales on a constant currency basis to enhance investors' understanding of underlying business trends and operating performance, by removing the impact of foreign
currency exchange rate fluctuations. The impact from foreign currency, calculated on a constant currency basis, is determined by applying prior period average exchange rates to current year
results.
Reg G
Reconciliation
GAAP Net Loss
to Non-GAAP EBITDA and
Adjusted EBITDA
GAAP Net Sales
to Non-GAAP Constant Currency
Net Sales
18
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