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SHAPEWAYS HOLDINGS, INC.
RECONCILIATION OF GAAP TO NON-GAAP MEASURES For the Three and Nine Months Ended September 30, 2023 and 2022 | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| (Dollars in thousands) | 2023 | 2022 | 2023 | 2022 | ||||||||||||
| Net loss | $ | (19,193 | ) | $ | (4,550 | ) | $ | (33,377 | ) | $ | (13,261 | ) | ||||
| Interest expense, net | (212 | ) | (14 | ) | (826 | ) | (16 | ) | ||||||||
| Depreciation and amortization | 495 | 473 | 1,467 | 1,032 | ||||||||||||
| Stock-based compensation expense | 603 | 1,207 | 1,884 | 1,519 | ||||||||||||
| Impairment on assets held for sale | 9,680 | — | 9,680 | — | ||||||||||||
| Write-offs of prepaid services | 3,196 | — | 3,196 | — | ||||||||||||
| Write-offs of intangible assets | 481 | — | 481 | — | ||||||||||||
| Change in fair value of earnout liability | — | (1,784 | ) | — | (1,784 | ) | ||||||||||
| Change in fair value of warrant liabilities | — | (31 | ) | — | (1,558 | ) | ||||||||||
| Income tax expense | 19 | 3 | 57 | 2 | ||||||||||||
| Acquisition costs | — | — | — | 373 | ||||||||||||
| Restructuring costs | 16 | 190 | 303 | 190 | ||||||||||||
| Other | (57 | ) | (109 | ) | (217 | ) | (148 | ) | ||||||||
| Adjusted EBITDA | $ | (4,972 | ) | $ | (4,615 | ) | $ | (17,352 | ) | $ | (13,651 | ) | ||||
