(in thousands)
|
|
For the Three Months Ended |
||||
|
|
March 31, |
||||
(Dollars in thousands) |
|
2023 |
|
2022 |
||
GAAP operating expenses |
|
$ |
50,953 |
|
$ |
68,151 |
Stock-based compensation included in operating expenses(1) |
|
|
(8,633) |
|
|
(9,425) |
Amortization of acquired intangible assets included in operating expenses |
|
|
(3,515) |
|
|
(3,794) |
Restructuring expense included in operating expenses |
|
|
(2,901) |
|
|
— |
Acquisition-related and integration costs included in operating expenses |
|
|
(927) |
|
|
(2,848) |
Non-GAAP operating expenses |
|
$ |
34,977 |
|
$ |
52,084 |
(1) |
|
Includes $1.6 million and $0.0 million of liability-award stock-based compensation expense for the three months ended March 31, 2023 and 2022, respectively. |
DESKTOP METAL, INC.
NON-GAAP ADJUSTED EBITDA RECONCILIATION TABLE
(in thousands)
|
|
For the Three Months Ended |
||||
|
|
March 31, |
||||
(Dollars in thousands) |
|
2023 |
|
2022 |
||
Net loss attributable to common stockholders |
|
$ |
(52,642) |
|
$ |
(69,944) |
Interest (income) expense, net |
|
|
811 |
|
|
(32) |
Income tax expense (benefit) |
|
|
(557) |
|
|
(1,256) |
Depreciation and amortization |
|
|
13,433 |
|
|
12,883 |
| EBITDA |
|
|
(38,955) |
|
|
(58,349) |
| Change in fair value of investments |
|
|
179 |
|
|
1,700 |
| Inventory step-up adjustment |
|
|
— |
|
|
1,181 |
| Stock-based compensation expense (1) |
|
|
9,313 |
|
|
9,912 |
| Restructuring expense |
|
|
3,618 |
|
|
— |
| Acquisition-related and integration costs |
|
|
1,406 |
|
|
3,986 |
| Adjusted EBITDA |
|
$ |
(24,439) |
|
$ |
(41,570) |
| (1) |
Includes $1.6 million and $0.0 million of liability-award stock-based compensation for the three months ended March 31, 2023 and 2022, respectively. |
