Elutia Inc

NASDAQ:ELUTUnited States

04:07 PM EST, 11/14/2024 (MT Newswires) -- ...

(Non-GAAP) 60.6% 60.2% 57.8% 60.8% ELUTIA INC. NON-GAAP RECONCILIATIONS OF EBITDA AND ADJUSTED EBITDA (Unaudited, in thousands, except share and per share data) Three months ended Nine months ended September 30, September 30, ------------------- ---------------------- 2024 2023 2024 2023 Net income (loss) $ 1,286 $(9,747) $(44,888) $(28,342) Interest expense((1) 1,129 1,448 3,709 4,285 Income tax expense 8 12 5 36 Depreciation and amortization 862 942 2,588 2,854 ------- ------ ------- ------- Earnings before interest, taxes, depreciation and amortization ("EBITDA") (Non-GAAP) 3,285 (7,345) (38,586) (21,167) Loss (income) from discontinued operations - 1,228 (180) 2,315 Stock-based compensation 1,775 615 6,683 1,987 FiberCel litigation costs((2) 4,683 4,096 8,757 7,278 (Gain) loss on revaluation of warrant liability((3) (12,653) (1,070) 15,321 (1,070) Warrant issuance expenses - 758 257 758 Gain on revaluation of revenue interest obligation((4) - - (1,443) - ------- ------ ------- Adjusted EBITDA (Non-GAAP) $ (2,910) $(1,718) $ (9,191) $ (9,899) ======= ====== ======= ======= (1) Represents interest expense recorded on all outstanding long-term debt as well as the revenue interest obligation. (2) Represents FiberCel litigation costs consisting primarily of legal fees and the estimated and actual costs to resolve the outstanding FiberCel litigation cases offset by the estimated amounts recoverable and recovered under insurance, indemnity and contribution agreements for such costs. (3) Represents non-cash expense attributable to the revaluation of Common Warrants and Prefunded Warrants issued in connection with a private offering of Class A common stock on September 21, 2023. (4) Represents the gain on the revaluation of the revenue interest obligation. At each reporting period, the value of the revenue interest obligation is re-measured based on current estimates of future payments, with changes to be recorded in the consolidated statements of operations using the catch-up method.