VALENS SEMICONDUCTOR LTD. | ||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | ||||||||
(U.S. Dollars in thousands) | ||||||||
(Unaudited) | ||||||||
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The following table provides a reconciliation of Net loss to Adjusted EBITDA, a non-GAAP measure. Adjusted EBITDA
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Although we provide guidance for Adjusted EBITDA, we are not able to provide guidance for projected Net profit (loss),
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| Three Months Ended June 30, |
| Six Months Ended June 30, | |||||
| 2022 |
| 2021 |
| 2022 |
| 2021 | |
|
|
|
|
|
|
|
| |
Net loss | (9,995) |
| (3,698) |
| (15,045) |
|
(10,074) | |
Adjusted to exclude the following: |
|
|
|
|
|
|
| |
| Change in fair value of Forfeiture Shares | (1,538) |
| - |
| (4,142) |
| - |
| Financial expense (income), net | 3,560 |
| (503) |
| 3,675 |
| (336) |
| Income taxes | 43 |
| 124 |
| 389 |
| 179 |
| Equity in earnings of investee | (3) |
| - |
| (7) |
| - |
| Depreciation | 347 |
| 266 |
| 667 |
| 522 |
| Stock-based compensation expenses | 3,117 |
| 1,695 |
| 5,908 |
| 3,290 |
Adjusted EBITDA | (4,469) |
| (2,116) |
| (8,555) |
| (6,419) |
VALENS SEMICONDUCTOR LTD. | |||||||
RECONCILIATION OF GAAP TO NON-GAAP Tables | |||||||
(U.S. Dollars in thousands) | |||||||
(Unaudited) | |||||||
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The following tables provide a calculation of the GAAP Loss per share and reconciliation to Non-GAAP Loss per share. | |||||||
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| Three Months Ended June 30, |
| Six Months Ended June 30, | ||||
GAAP Loss per Share | 2022 |
| 2021 |
| 2022 |
| 2021 |
|
|
|
|
|
|
|
|
GAAP Net Loss | (9,995) |
| (3,698) |
| (15,045) |
|
(10,074) |
Adjusted to include the following: |
|
|
|
|
|
|
|
Accrued dividend related to Preferred Shares | - |
| (3,788) |
| - |
|
(7,478) |
Total Loss used for computing Loss per Share | (9,995) |
| (7,486) |
| (15,045) |
|
(17,552) |
Earnings Per Share Data: |
|
|
|
|
|
|
|
GAAP Loss per Share (in U.S. Dollars) | $(0.10) |
| $(0.68) |
| $(0.15) |
|
$(1.61) |
Weighted average number of shares used in calculation
| 97,442,359 |
| 11,020,299 |
| 97,296,206 |
|
10,927,357 |
|
Three Months Ended June 30, |
|
Six Months Ended June 30, | ||||
Non-GAAP Loss per Share [11] | 2022 |
| 2021 |
| 2022 |
| 2021 |
|
|
|
|
|
|
|
|
GAAP Net loss | (9,995) |
| (3,698) |
| (15,045) |
|
(10,074) |
Adjusted to exclude the following: |
|
|
|
|
|
|
|
Stock based compensation | 3,117 |
| 1,695 |
| 5,908 |
|
3,290 |
Depreciation | 347 |
| 266 |
| 667 |
|
522 |
Change in fair value of Forfeiture Shares | (1,538) |
| - |
| (4,142) |
|
- |
Total Loss used for computing Loss per Share | (8,069) |
| (1,737) |
| (12,612) |
|
(6,262) |
Earnings Per Share Data: |
|
|
|
|
|
|
|
Non-GAAP Loss per Share (in U.S. Dollars) | $(0.08) |
| $(0.16) |
| $(0.13) |
|
$(0.57) |
Weighted average number of shares used in calculation
| 97,442,359 |
| 11,020,299 |
| 97,296,206 |
|
10,927,357 |