The following table provides a reconciliation of Adjusted EBITDA to net (loss) income, the most comparable GAAP financial measure:
| (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
| Net (loss) income | $ | (10,223 | ) | $ | (3,120 | ) | $ | (4,193 | ) | $ | 9,899 | |||||
| Income tax expense (benefit) | 2,768 | (167 | ) | 7,420 | 3,921 | |||||||||||
| Stock-based compensation expense | 4,534 | 2,080 | 7,705 | 3,292 | ||||||||||||
| Interest expense | 2,843 | 590 | 5,656 | 860 | ||||||||||||
| Interest income and other (1) | 194 | 508 | (460 | ) | 709 | |||||||||||
| Depreciation and amortization | 5,633 | 5,274 | 11,293 | 10,468 | ||||||||||||
| Adjusted EBITDA | $ | 5,749 | $ | 5,165 | $ | 27,421 | $ | 29,149 | ||||||||
(1) Includes $0.6 million of severance expense for the three and six months ended June 30, 2020. Includes $0.8 million and $1.0 million of impairment charges for royalty contracts for the three and six months ended June 30, 2019, respectively.
