Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
MadCow you still haven’t answered the question, is there something personal going on.
So if you like the numbers and think MSLP is a good investment, then buy shares. Since there has only been one single trade (for $600) in the entire week after earnings, you should be at the front of the line. FIVE CONSECUTIVE trading sessions (including today) and only ONE SINGLE $600 trade. Seven trading sessions (including today) and $700 total trade value. The MM is dropping the "ask" and the "bid" everyday and that looks like the opportunity of a lifetime for you being so bullish on this stock. Buy on the "ask" and sell on the "bid" and you only lose -40% if you find a bid at your volume. Why reply to my messages? My one and only reply to you. Good luck.
Madcow i have been doing some research on the new filing. They have over 1.6 million dollars in beverage sales with out launching fitmiss. The alliance group is the real deal. I am wondering why you have so much hate. There must be something personal you’re not telling the group.
Circling the drain...
Defamation i could be wrong
MSLP gross margins are probable a negative number because they don't pay the supplier and just keep and report 100% of the revenue. Combat Crunch is the latest offering. Look at how many millions Ryan STOLE again yet revenues are reported like a legit business that MSLP is NOT. What's another $7m owed on revenue already received and reported and not paid for? YES.....Ryan STOLE another $7M in the Ponzi Scheme.
Ryan had to post a personal bond on a significant portion of the ThermoLife appeal. A couple weeks ago the AZ Supreme Court ruled for ThermoLife as final judgement. Now Ryan has to either pay the settlement via the bond company (default and the bond company going after him, very unlikely like a bail bondsman coming to your home) or MSLP has to pay in Q2. I love how AZ courts work. Not like those CA and UK courts (Man Footy) that let MSLP not pay bills and appeal for free.
That is $1.9m and the court affirmed ThermoLife's request for attorney's fees. Poor RyRy.
Why doesn't Ryan release who the preferred bond holders are ? They now control the bankruptcy. I wonder why the pieces are being moved into place.....
Since earnings, MSLP has one single posted trade of $600 in FOUR trading days (sessions).
This is a lonely equity if you are a holder of shares.
Those 10K and Q3 10Q numbers reflected the bulk of the initial channel stuff took place in Q3 2021. That makes the Q1 2022 even worse and the fact after 9 months after launch only $31k of sales occurred when added re-orders from existing customers AND any new customers looking to offer MSLP Energy Drinks. Dismal is an understatement.
What about the fact that Combat Crunch Bars are no longer in inventory or being offered for sale through any channel?
What about the fact delinquent Ryan is now being subsidized $7k a month for rental home after I posted the screenshot of his delinquency on his personal home?
How many other CEO's are having the company pay for personal expenses? Is there a MSLP diaper allowance going to Ryan too?
It's a pretty straightforward comparison of the 2021 10-K vs. the Q1 2022 10-Q. You can easily find the numbers in those two reports here: https://www.musclepharmcorp.com/MSLP/ir-kit/5049
It may take another quarter for the initial distribution and follow-up orders to smooth out and be truly predictive of future activity (depending on when in Q4 that channel stuffing actually occurred), but the numbers themselves are right there in black and white.
MadCow has been very quite since he has been called out.
Madcow where are you getting your numbers. FAKE NEWS
A lot can be learned by looking at the reported numbers on MSLP Energy Drink.
MSLP Energy Drink launched first in International second half of 2021.
Posted $467,000 in sales in initial channel stuffing and sales in those 6 months
Now after that channel stuffing, here are the numbers from the first 3 months of 2022 including 3 months of "new" sales opportunities attempting to roll out the product to 8 billion people world wide.
$31,000
There have been essentially ZERO reorders from the legacy retailers and ZERO new "sales" to any potential new retailers looking for an MSLP Energy Product.
A lot can be learned in the energy in a can segment from Bang...
https://www.mashed.com/737035/the-untold-truth-of-bang-energy-drinks/
Amazon?
Went to amazon to shop for the Quest Bar killer MusclePharm Combat Crunch.
Here is the result:
https://www.amazon.com/s?k=combat+crunch+protein+bars&crid=22Z09YXWJ5M90&sprefix=combat+crunch+%2Caps%2C409&ref=nb_sb_ss_mission-aware-v1_1_14
No more Combat Crunch bars....
According to the Conference Call, when asked in Q & A, Ryan stated that they are looking for new supplier and hopefully they can find someone to manufacture a a new CC bar in Q3 since Bakery Barn (the former supplier to MSLP) and another supplier of ingredients for Combat Crunch bars are left holding over $4m in unpaid invoices and both have filed suit against Ryan.
I bet Quest is breathing a sigh of relief......;)
But what about the Energy Drinks?
Wow!
Initial Channel Stuff in International Market showed MSLP 'sold' $467,000K in Q3, 4 2021
Now how many sales occurred in Q1 2022? Hold on to your wallets.....
$31,000 in total sales
From $467,000 initial channel stuff and 6 months later only $31,000 in sales. This includes any new international sales channels AND any phantom replenishing of sold stock.
Game over
On May 4, 2022 MSLP lost its final appeal and was ordered to pay ThermoLife $1.9m Arizona Supreme Court judgement immediately.
Dig in the sofa cushions Ryan.....wait...he sold the sofa
Despite have literally no cash on the books ($500k) and owing $48m to suppliers and debt holders due now, MSLP only has $229k worth of finished inventory on the shelves to sell.
Wow!!!!!!!
No wonder there are countless lawsuits and settlements that MSLP currently refuses and cannot pay.
Costco is basically all that is left. Bakery Barn the manufacturer and supplier of MSLP Combat Crunch Bar was stiffed by Ryan (again) and has sued MSLP for million$ (again)
Costco now accounts for ~60% of all MSLP revenue (was 29% in Q1 2021) and that is likely the skinniest of margin customer to be affiliated. No wonder LOSSES have exploded. Every $1 of revenue is now losing .50 cents.
MSLP lost over $6m in the past 90 days.
International Revenue in Q1 went from $3.8m in 2021 to just $700k in 2021.
Is there a pulse left?
Only lost -$6.3m in Q1. $13m in revenue so Ryan loses .50 cents for every $1 in revenue. No wonder the bold "going concern" warning. Only $500,000 in cash in coffer and another $8m of liabilities and debt was added just the past 90 days.
Q1 Financials due yesterday. Ho hum....must be one those logistic shortage supply chain issues that Biden can fix.
Bakery Barn, the manufacturer of the MSLP Combat Crunch bar, sues Ryan AGAIN for non payment. Same dog, same tricks. Remember the terrible customer feedback when Bakery Barn stopped producing the CC Bar and Ryan found a different supplier?
Remember when I posted the screenshots showing Ryan was delinquent on his personal property taxes?
Now look at this little line item that shows up in filing:
Wow......Financial metrics for 2021
Cost of Goods Sold 90%
leaving 10% for cash flow.
Sales and Admin 20%
Sales Cost 10%
Before any Financing costs (another ~18%), MSLP is losing .20 cents on every $1.00 of sales.
Sales are crashing at MSLP's largest retailer, Costco.
2020 Costco was ~$27m
2021 Costo was ~$18m
Costco sales down -$9m YOY -33%.
Wait until you see the huge Interest Cost explode even higher as the private placement in December begin accruing interest in Q1 and 2 of 2022.
Somebody's been dumping?
When Sales have declined -40% YOY
it's just to difficult to file financials in the allotted 90 days. Shareholders are clearly way down the priority list.
Revenue?
COGS is 100% before any expenses. Commission structure on ED is outrageous and based on gross profit before any expenses. MSLP is paying 18% to 200% APR and is upside down over $30m just taking AR and subtracting APayable. The lawsuits never end and neither do the legal expenses and settlements. MSLP suppliers are owed millions in past due invoices and can cut off MSLP again at any time.
No game changers on the horizon by even the most optimistic imaginations.
I think the revenue from the energy drinks will change things here...may take a couple years though?
but made the dumb decision to make the Arnold Series the cheapest and least quality product in the entire MSLP line.
Best thing they ever had was that deal with Arnold a few years back.
I don't understand why Drex keeps doing it. I had long suspected he had a sell play in mind, and was just trying to prop things up and convert debt until a suitor came in to save the day and let him recoup. At this point, there isn't anything left worth buying, Drex has a shit ton of illiquid equity, and even with an extortionate APR is nowhere near generating enough cash flow to pay himself back. I reckon this whole thing has now become an ego trip, and he's content to keep throwing cash at it (especially when it's not his) to avoid admitting defeat.
The Amerop complaint is interesting. The prayer is all about damages, not some sort of equitable relief. The content of the complaint and specifically the inclusion of the entirety of the unexecuted agreement in conjunction with naming Drex individually points towards piercing the veil, and pursuing Drex directly for damages (in the form of stock, no doubt) - either they once again hit the 10% threshold and resurrect the NV case, or they get enough from Drex to force a seat at the table and satisfy their concerns.
I've sold off the vast majority of my holdings here, but retained enough to be interested, if not 'invested' in the outcome...
It just goes to show how broke the coffers are. They just closed a "net" $6m LOC several weeks ago and not only is that money gone but another $3m is needed to fund the test market for the new Energy Drink in "select Costco's in Hawaii and SoCal". The question is do the two former Energy Drink execs get that astronomical gross commission on those potential sales?
I bet it hardly matter though, as the "special pricing" will likely be a dollar for dollar wash on COGS just like the protein powder at Costco. After the real business expenses, the losses just keep accumulating just like the lawsuits.
Sneak the bad news under the guise of darkness.
Q4 revenue has been informally reported as $9m
Now compare that to already anemic Q4 revenue for last year that was $15m.
That is a -40% decline in the last 12 months.
No wonder Amerop and White Winston are filing more lawsuits against Ryan when they offered the shareholders to purchase all the outstanding debt for $2.00 a share and Ryan converted it all for pennies AND is paying himself 18% interest on all the Costco invoices that are guaranteed to be paid. Literally no risk financing. Since Ryan couldn't even pay his personal home property tax on time, he is probably borrowing money from a family member or friend for a little less than 18% and arbitraging the margin.
Shareholders again are being screwed. Let's see what happens now that White Winston has filed suit in their hometown on the East Coast.
Muti-pack coming...maybe they can get this into Costco...
MusclePharm Combat Energy Drink (16oz)- Variety Pack, 12 Cans https://www.amazon.com/dp/B09R531Z8N/ref=cm_sw_r_apan_glt_i_0PX55YGRN9BJ4KGW242R
1) Nothing in your reply contradicts anything that I said. The company has no chance of being profitable based on selling products; the only way Drex can get any ROI (aside from his salary and prior "interest") is to sell it. Given they don't have any unencumbered physical assets and are saddled with unprofitable meh product, the distribution network looks like the only viable asset.
2) At no point did I mention AB - no clue where that tangent came from. Monster acquired CANarchy to be able to break into the beer brewing/distribution space, not AB.
The current world-wide energy drink market is roughly 60 billion a year with a CAGR of 7-9% per year.
1% of 60 billion is 600 million.
Not sure if this company can execute a business plan, but 1% seems achievable with a couple of Rockstar Execs. on board!
That is the most confused analysis I've ever read.
Firstly, MSLP "already" has an Amazon partnership (basically stocks Combat Crunch at Amazon distribution centers for drop shipment) so the recent PR is immaterial as Combat Crunch sales have declined to less than $4m annual through ALL SALES CHANNELS. These new liquid products will fail as well after the initial channel stuffing.
Secondly, Anheizer Busch went on a feeding frenzy of craft beer breweries. AB didn't acquire them because the small breweries HAD a significant distribution network but the exact opposite. To expand the small breweries distribution network and PROTECT current AB brands PRICING in a series of local markets. 95% of all beer on the grocery stores aisles are owned by just TWO companies and these companies acquire to simply protect price. This has nothing to do with MusclePharms product or markets or even business model.
As for the two former Rockstar employees, they were "let go" during the acquisition as they were non essential and brought nothing to the table.
With MSLP, they are on temporary independent contracts that I've shown will provide no value to shareholders as ANY and ALL sales they may be able to provide are subject to the onerous gross commission scale. Besides Ryan only pivoted to this in response to the complete fallout of capital raising and the fact his personal capital was depleted (see personal home property tax delinquent).
It's his Hail Mary and the amazing YOY decline in MSLP sales (now down over -70% since Ryan became CEO) is the exact OPPOSITE of what any acquirer would be looking for. Ryan's immense dilution and hence WW lawsuits have positioned those two parties to square off in bankruptcy court auction.
Between this and today's PR, it seems apparent that they are developing the distribution network as their primary product - not any of the actual consumables.
Drex's employment contracts have long been predicated on his ability to sell the company. They clearly can't run a profitable enterprise, and their product offerings are rehashes of the multitude of comparables already choking the marketplace. What they can do (with their crack team of former Moster execs) is build a stem-to-stern supply chain that could be leveraged by another company (with the resources and management to be successful) looking to break into a new market.
Ironically, Monster themselves did this by acquiring CANarchy Craft Brewery Collective in January, giving them instant access to the Western US microbrewery market. Be looking for the next 4loko any day now.
Tried the green apple this weekend ..pretty good! The wrap on the can looked nice, but needs a tad perfecting near the lip of the can.
$MSLP MusclePharm Announces Third Quarter 2021 Financial Results
Press Release | 11/15/2021
Company Continues Focus on Controlling Operating Expenses with 21% Decline in Third Quarter 2021
First Production Run of MP Combat Energy Successfully Sold 100%; $30 Million of Annual Sales Expected in 2023
Company Expects Sequential Revenue Growth in Fourth Quarter 2021 from
New Product Formulation and MP Energy Drink Line
LAS VEGAS, Nov. 15, 2021 (GLOBE NEWSWIRE) -- MusclePharm Corporation (OTCMKTS: MSLP), a global provider of leading sports nutrition & lifestyle branded nutritional supplements, today reported financial results for the third quarter and nine months ended September 30, 2021.
Mr. Ryan Drexler, the Chairman of the Board of Directors and Chief Executive Officer, stated, “Sales and margins in the third quarter were impacted by supply chain shortages which were mitigated by our continued focus on operating expense reduction. We are excited to launch a new and improved formula that delivers improved taste and mixability to consumers of two of our top selling products, Combat 100% Whey and Combat Protein Powder, to begin shipping this month. This new product formulation, along with the continued production of the MP Energy drink line, is expected to drive sequential revenue growth in the fourth quarter of 2021. Also, as mentioned on our second quarter earnings call, we brought on T.J. Dillashaw for marketing and business development and have already seen a significant impact on our business through the formation of marketing partnerships that will support our expected fourth quarter revenue growth.”
Mr. Drexler continued, “In addition, our recent $7.0 million senior secured notes offering has us well positioned to capture market share in the functional energy drink segment, and we believe we can grow the business to $30.0 million in annual sales starting in 2023.”
The following are key financial highlights for the period. Reconciliations of certain GAAP to non-GAAP measures are provided later in this press release.
Third Quarter 2021 Financial Highlights
? Revenue, net was $12.0 million.
? Gross margin was 0.2% due to increased protein and freight costs.
? Operating expenses were $3.5 million.
? Net loss was $(3.9) million.
? Loss per share was $(0.12).
? Adjusted EBITDA was $(2.8) million.
Nine-months ended September 30, 2021 Financial Highlights
? Revenue, net was $40.0 million.
? Gross margin was 14.7% due to increased protein and freight costs.
? Operating expenses were $10.8 million.
? Net loss was $(6.1) million.
? Loss per share was $(0.18).
? Adjusted EBITDA was $(3.6) million.
Non-GAAP Financial Measures
Within this press release, the Company refers to a non-GAAP financial measure (Adjusted EBITDA) which has a directly comparable U.S. GAAP financial measure (net (loss) income). EBITDA is defined as net (loss) income excluding interest, net, income taxes and depreciation and amortization. Adjusted EBITDA, in addition to those amounts included in EBITDA, is further adjusted for items such as stock-based compensation, gain on disposal of property and equipment, and (gain) loss on settlements.
Adjusted EBITDA is provided so that investors have the same financial data that management uses to assess the Company’s operating results with the belief that it will assist the investment community in properly assessing the ongoing performance of the Company for the periods being reported and future periods. The presentation of this additional information is not meant to be considered a substitute for measures prepared in accordance with U.S. GAAP.
Conference Call Information
The Company will host a conference call to discuss its operating results today at 1:30 pm Pacific Time (4:30 pm Eastern Time). Investors interested in accessing the live call can dial (800) 667-5216 from the U.S. and International callers can dial (303) 223-2688. A telephone replay will be available following the event and can be accessed by dialing (844) 512-2921 from the U.S. and International callers can dial (412) 317-6671; the conference ID is 21999197.
There will also be a simultaneous, live webcast with the ability to ask questions of management on the Investor Relations section of the Company’s website at www.musclepharm.com. The webcast will be archived for 30 days.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” or “continue” or other comparable terminology. Such forward-looking statements only speak as of the date of this press release and the Company assumes no obligation to update the information included in this press release, except as required by law. Statements made in this press release that are forward-looking in nature may involve risks and uncertainties. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, risks relating to consumer spending may decline or that U.S. and global macroeconomic conditions may worsen resulting in reduced demand for the Company’s products, risks relating to changes in consumer preferences away from the Company’s offerings, risks relating to the effectiveness and efficiency of the Company’s advertising campaigns and marketing expenditures, including existing brands and the launch of new brands, which may not result in increased revenue or generate sufficient levels of brand name and program awareness, risks if the Company becomes subject to health or advertising related claims from its customers, competitors or governmental and regulatory bodies, and risks relating to increased competition from other nutrition providers. As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements.
This list of risks, uncertainties and other factors is not complete. We discuss some of these matters more fully, as well as certain risk factors that could affect our business, financial condition, results of operations, and prospects, in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in subsequent reports we file from time-to-time with the SEC, which are available to read at www.sec.gov. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the results of any revisions to the forward-looking statements made in this press release.
About MusclePharm Corporation
MusclePharm® is an award-winning, worldwide leading sports nutrition & lifestyle company offering branded nutritional supplements. Its portfolio of recognized properties include the MusclePharm® Sport Series, Essentials Series, and recently-launched Natural Series, as well as FitMiss™ – a product line designed specifically for female athletes. MusclePharm® products are available in more than 100 countries globally, with its Combat Protein product lineup being the company’s most popular.
Contact:
John Mills, Managing Partner
ICR, Inc.
646-277-1254
John.Mills@Icrinc.com
MusclePharm Corporation
Consolidated Statements of Operations
(In thousands, except share and per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
2021 2020 2021 2020
Revenue, net $ 11,971 $ 16,085 $ 40,000 $ 49,309
Cost of revenue 11,942 11,073 34,102 34,504
Gross profit 29 5,012 5,898 14,805
Operating expenses:
General and administration 2,453 3,586 7,609 11,001
Selling and promotion 1,012 623 3,195 2,100
Impairment of intangible assets - 167 - 167
Total operating expenses 3,465 4,376 10,804 13,268
Income (loss) from operations (3,436) 636 (4,906) 1,537
Other (expense) income:
Loss on settlement obligation - - - (87)
Interest and other income (expense), net (465) (456) (1,144) (1,539)
Gain on settlement of payables - 518 - 518
Income (loss) before provision for income taxes (3,901) 698 (6,050) 429
Provision for income taxes 32 20 40 64
Net income (loss) $ (3,933) $ 678 $ (6,090) $ 365
Net income (loss) per share, basic $ (0.12) $ 0.02 $ (0.18) $ 0.01
Net income (loss) per share, diluted $ (0.12) $ 0.01 $ (0.18) $ 0.01
Weighted average shares used to compute net income (loss) per share, basic 33,386,200 33,008,189 33,134,933 32,746,147
Weighted average shares used to compute net income (loss) per share, diluted 33,386,200 49,097,595 33,134,933 48,835,553
MusclePharm Corporation
Consolidated Balance Sheets
(In thousands, except share and per share data)
September 30, December 31,
2021 2020
(Unaudited)
ASSETS
Current assets:
Cash $ 384 $ 2,003
Accounts receivable, net of allowances of $1,033 and $3,407 at September 30, 2021 and December 31, 2020, respectively 7,332 7,488
Inventory, net 1,589 1,032
Prepaid expenses and other current assets 1,538 1,341
Total current assets 10,843 11,864
Property and equipment, net 7 13
115 356
Operating lease right-of-use assets 271 474
Other assets 75 295
TOTAL ASSETS $ 11,311 $ 13,002
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Obligation under secured borrowing arrangement $ 6,090 $ 7,098
Line of credit - 743
Operating lease liability, current 446 381
Convertible notes with a related party, net of discount 5,329 2,872
Accounts payable 18,770 14,719
Accrued and other liabilities 6,928 6,194
Total current liabilities 37,563 32,007
Operating lease liability, long-term - 343
Other long-term liabilities 3,561 5,071
Total liabilities 41,124 37,421
Commitments and contingencies (Note 9)
Stockholders’ deficit:
Common stock, par value of $0.001 per share; 100,000,000 shares authorized, 34,261,821 and 33,980,905 shares issued as of September 30, 2021 and December 31, 2020, respectively; 33,386,200 and 33,105,284 shares outstanding as of September 30, 2021 and December 31, 2020, respectively 32 32
Additional paid-in capital 178,955 178,261
Treasury stock, at cost; 875,621 shares (10,039) (10,039)
Accumulated deficit (198,761) (192,673)
TOTAL STOCKHOLDERS’ DEFICIT (29,813) (24,419)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 11,311 $ 13,002
MusclePharm Corporation
Consolidated Statements of Cash Flows
(In thousands, except share and per share data)
Nine Months Ended
September 30,
2021 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (loss) $ (6,090) $ 365
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization of property and equipment 9 130
Amortization of intangible assets 240 240
Bad debt expense 326 174
Gain on disposal of property and equipment - (176)
Gain on settlement of payables - (518)
Inventory loss provision 1 (115)
Stock-based compensation 694 206
Issuance of common stock to non-employees - 116
Impairment of operating lease right-of-use assets - 167
Changes in operating assets and liabilities:
Accounts receivable, net (169) (572)
Inventory (557) 3,347
Prepaid expenses and other current assets (197) 36
ROU and other assets 423 429
Accounts payable and accrued liabilities 2,856 (1,259)
Net cash (used in) provided by operating activities (2,466) 2,570
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment (3) (4)
Proceeds from disposal of property and equipment - 220
Net cash (used in) provided by investing activities (3) 216
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment to line of credit (528) (2,452)
Payments from line of credit 2,192 -
Proceeds from secured borrowing arrangement, net of reserves 38,247 32,762
Payments to secured borrowing arrangement, net of fees (39,255) (34,289)
Proceeds from shareholder's loan 49 -
Proceeds from issuance of Paycheck Protection Program Loan - 965
Repayment of finance lease obligations - (54)
Proceeds of notes payable 145
Repayment of Notes payables - (165)
Net cash (used in) provided by financing activities 850 (3,233)
NET CHANGE IN CASH (1,619) (447)
CASH — BEGINNING OF PERIOD 2,003 1,532
CASH — END OF PERIOD $ 384 $ 1,085
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for Interest $ 1,153 $ 522
Non-GAAP Adjusted EBITDA
In addition to disclosing financial results calculated in accordance with U.S. GAAP, this press release discloses Adjusted EBITDA, which is net loss adjusted for stock-based compensation, gain on disposal of property and equipment, (gain) loss on settlements, interest and other expense, net, depreciation of property and equipment, amortization of intangible assets, impairment of operating lease right of use asset and provision for income taxes.
Management uses Adjusted EBITDA as a supplement to U.S. GAAP measures to further evaluate period-to-period operating performance, as well as the Company’s ability to meet future working capital requirements. The exclusion of non-cash charges, including stock-based compensation, gain on disposal of property and equipment, depreciation of property and equipment, amortization of intangible assets, and provision for income taxes, is useful in measuring the Company’s cash available for operations and performance of the Company. Management believes these non-GAAP measures will provide investors with important additional perspectives in evaluating the Company’s ongoing business performance.
The U.S. GAAP measure most directly comparable to Adjusted EBITDA is net income (loss). The non-GAAP financial measure of Adjusted EBITDA should not be considered as an alternative to net income (loss). Adjusted EBITDA is not a presentation made in accordance with GAAP and has important limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because Adjusted EBITDA excludes some, but not all, items that affect net income (loss) and is defined differently by different companies, our definition of Adjusted EBITDA may not be comparable to similarly titled measures of other companies.
Set forth below are reconciliations of our reported GAAP net loss to Adjusted EBITDA (in thousands):
For the For the For the For the
Three Months ended Three Months Nine Months ended Nine Months ended
30-Sep-21 30-Sep-20 30-Sep-21 30-Sep-20
Net Income (Loss) $ (3,933) $ 678 $ (6,090) $ 365
Non-GAAP adjustments:
Stock-based compensation 386 27 694 206
Gain on disposal of property and equipment - (165) - (176)
(Gain) loss on settlements (94) (518) (265) (518)
Interest expense 683 632 1,800 1,715
Depreciation of property and equipment 3 24 9 130
Amortization of intangible assets 80 80 240 240
Impairment of operating lease right of use asset - 167 - 167
Provision for income taxes 32 20 39 64
Adjusted EBITDA $ (2,843) $ 945 $ (3,573) $ 2,193
Followers
|
357
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
80868
|
Created
|
02/02/10
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |