Proto Labs, Inc. |
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Reconciliation of GAAP Net Income to EBITDA and Adjusted EBITDA |
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(In thousands) |
|||||||||
(Unaudited) |
|||||||||
|
|
|
|
|
|||||
|
|
|
Three Months Ended |
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|
|
|
March 31, |
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|
|
|
2020 |
|
2019 |
|
|||
| GAAP net income | $ |
13,984 |
|
$ |
15,511 |
|
|||
| Amortization expense |
|
754 |
|
|
871 |
|
|||
| Depreciation expense |
|
7,204 |
|
|
6,568 |
|
|||
| Interest income, net |
|
(560 |
) |
|
(581 |
) |
|||
| Tax expense |
|
3,895 |
|
|
4,150 |
|
|||
| EBITDA |
|
25,277 |
|
|
26,519 |
|
|||
| Add back: | |||||||||
| Stock-based compensation expense |
|
3,033 |
|
|
3,040 |
|
|||
| Unrealized (gain) loss on foreign currency |
|
(797 |
) |
|
247 |
|
|||
| Total adjustments |
|
2,236 |
|
|
3,287 |
|
|||
| Adjusted EBITDA | $ |
27,513 |
|
$ |
29,806 |
|
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Protolabs Reports Financial Results for the First Quarter 2020
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