The following table provides a reconciliation of projected Adjusted EBITDA and Modified Adjusted EBITDA to projected net (loss) income, the most comparable GAAP financial measure: | ||||||||||||||
(Unaudited) | ||||||||||||||
Three Months ending
September 30, 2019 |
Year Ending
December 31, 2019 | |||||||||||||
(in thousands) | Low | High | Low | High | ||||||||||
Net (loss) income | $ | (6,750 | ) | $ | (5,450 | ) | $ | 10,500 | $ | 13,100 | ||||
Income tax (benefit) expense | (3,600 | ) | (2,900 | ) | 5,700 | 7,100 | ||||||||
Stock-based compensation expense | 2,100 | 2,100 | 7,500 | 7,500 | ||||||||||
Interest expense | 2,700 | 2,700 | 6,400 | 6,400 | ||||||||||
Depreciation and amortization | 5,300 | 5,300 | 22,000 | 22,000 | ||||||||||
Interest income and other non-recurring adjustments | 1,000 | 1,000 | 900 | 900 | ||||||||||
Adjusted EBITDA | 750 | 2,750 | 53,000 | 57,000 | ||||||||||
Acquisition related deferred revenue (1) | 2,250 | 2,250 | 9,000 | 9,000 | ||||||||||
Modified Adjusted EBITDA | $ | 3,000 | $ | 5,000 | $ | 62,000 | $ | 66,000 |
Altair Announces Second Quarter 2019 Financial Results
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(1) Adjustment for revenue not recognized under GAAP due to acquisition accounting adjustments associated with the accounting for deferred revenue in significant business combinations.
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