NV5 GLOBAL, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
TO COMPARABLE GAAP FINANCIAL MEASURES
(UNAUDITED)
(in thousands)
RECONCILIATION OF GROSS REVENUES TO NET REVENUES
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 27, 2020 | June 29, 2019 | June 27, 2020 | June 29, 2019 | |||||||||||||
| Gross Revenues - GAAP | $ | 162,689 | $ | 127,974 | $ | 328,169 | $ | 245,309 | ||||||||
| Less: | Sub-consultant services | (25,244 | ) | (20,044 | ) | (52,670 | ) | (36,996 | ) | |||||||
| Other direct costs | (8,914 | ) | (8,410 | ) | (17,402 | ) | (18,106 | ) | ||||||||
| Net Revenues | $ | 128,531 | $ | 99,520 | $ | 258,097 | $ | 190,207 | ||||||||
RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 27, 2020 | June 29, 2019 | June 27, 2020 | June 29, 2019 | |||||||||||||
| Net Income | $ | 4,503 | $ | 8,794 | $ | 8,691 | $ | 14,337 | ||||||||
| Add: | Interest expense | 4,403 | 457 | 8,190 | 808 | |||||||||||
| Income tax expense | 2,056 | 346 | 3,462 | 1,863 | ||||||||||||
| Depreciation and Amortization | 12,237 | 6,245 | 23,277 | 12,357 | ||||||||||||
| Stock-based compensation | 3,501 | 2,369 | 6,880 | 4,167 | ||||||||||||
| Acquisition-related costs | 231 | 238 | 571 | 238 | ||||||||||||
| Adjusted EBITDA | $ | 26,931 | $ | 18,449 | $ | 51,071 | $ | 33,770 | ||||||||
