Sign In  |  Register  |  About Livermore  |  Contact Us

Livermore, CA
September 01, 2020 1:25pm
7-Day Forecast | Traffic
  • Search Hotels in Livermore

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Zeta Announces Record Third Quarter 2021 Financial Results

  • Delivered record revenue of $115.1 million, an increase of 21% year over year, or 25% excluding $3 million of prior year Presidential cycle revenue, and 8% quarter over quarter
  • Grew scaled customer count, scaled customer ARPU, and direct platform revenue quarter over quarter
  • Booked six multi-year deals for $16 million in total contract value with over 90% recurring revenue
  • Increasing fourth quarter and full year 2021 revenue and Adjusted EBITDA guidance
  • Analysts and investors invited to attend Zeta’s inaugural customer conference, Zeta Live, on November 16 & 17

Zeta (NYSE: ZETA), a cloud-based marketing technology company that empowers enterprises to acquire, grow, and retain customers, today announced financial results for the quarter ended September 30, 2021.

“Our third quarter results demonstrate our strong strategic position, competitive differentiation, and growing sales capacity,” said David A. Steinberg, Co-founder, Chairman & CEO of Zeta. “Through our patented AI, proprietary first party data, and omni-channel activation capabilities, we saw an increase in competitive displacements, average solutions per customer, and further progression in strategic deal size. Disruption in the digital ecosystem is driving marketing technology in our direction, and the need for data-driven, identity-based marketing is expanding our TAM.”

“The third quarter was another example of Zeta executing on both its near and long-term objectives” said Chris Greiner, Zeta’s CFO. “The scaling of our go-to-market is ahead of pace. We are making significant progress refocusing the business toward higher margin, higher recurring revenue streams, which in turn is generating operating leverage throughout the P&L. Increasing our revenue and profit guidance moves us even closer to our long-term targets.”

Third Quarter 2021 Financial Highlights

(Unless otherwise noted, all comparisons are to the third quarter of 2020)

  • Total revenue of $115.1 million, an increase of 21% as reported or 25% excluding the 2020 Presidential cycle. Total revenue grew 8% sequentially.
    • Direct platform revenue made up 74% of total revenue compared to 66% in the third quarter of 2020.
    • Six of our ten largest industry verticals grew greater than 30%.
    • Increased number of use cases and channels per scaled customer.
  • Scaled customer count of 347 compared to 343 in the second quarter of 2021.
  • Scaled customer ARPU over $320,000 compared to $299,000 in the second quarter of 2021.
  • Lowered the cost of revenue percentage to 37.6%, excluding stock-based compensation, down 510 basis points from the third quarter of 2020 and down 160 basis points sequentially.
  • GAAP Operating loss of $66.9 million, compared to an operating income of $0.6 million, driven primarily by $69.3 million of stock-based compensation expense compared to $0.03 million.
  • GAAP net loss of $69.1 million, compared to a net loss of $13.0 million.
  • GAAP diluted loss per share of $0.53 compared to a loss per diluted share of $0.51.
  • Cash Flow from Operations of $10.2 million, compared to $7.0 million.
  • Adjusted EBITDA of $16.0 million, an increase of 30% compared to $12.3 million in the third quarter of 2020.

Fourth Quarter and Full Year 2021 Guidance

Zeta anticipates revenue and adjusted EBITDA to be in the following ranges:

Fourth quarter 2021

  • Revenue of $121 million to $124 million, a year-over-year increase of 6% to 9%, or an increase of 19% to 21% after excluding the $12 million of non-recurring revenue associated with the U.S. presidential election in the fourth quarter of 2020.
  • Adjusted EBITDA in the range of $20.6 million to $21.1 million, a year-over-year increase of 16% to 19% and an adjusted EBITDA margin of 16.6% to 17.4%.

Full year 2021

  • Increasing revenue to a range of $445 million to $448 million from $432 million to $436 million. Revised guidance represents a year-over-year increase of 21% to 22%, or an increase of 26% to 27% after excluding the $15 million of non-recurring revenue associated with the U.S. presidential election in the second half of 2020 (with $3 million in the third quarter of 2020 and $12 million in the fourth quarter of 2020).
  • Increasing Adjusted EBITDA to a range of $61.0 million to $61.5 million from $55.5 million to $57.5 million. Revised guidance represents a year-over-year increase of 54% to 55% and an adjusted EBITDA margin of 13.6% to 13.8%.

Investor Conference Call and Webcast

Zeta posted prepared remarks on its investor relations website at https://investors.zetaglobal.com/ and will host a conference call today, Tuesday, November 9, 2021, at 5:00pm Eastern Time to discuss financial results for the third quarter of 2021. The live webcast of the conference call can be accessed from the Company’s investor relations website, https://investors.zetaglobal.com/ where it will remain available for one year.

About Zeta

Zeta Global Holdings Corp. is a leading data-driven, cloud-based marketing technology company that empowers enterprises to acquire, grow and retain customers for a lower cost than they can achieve without us. The Company's Zeta Marketing Platform (the "ZMP") is the largest omnichannel marketing platform with identity data at its core. The ZMP analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated artificial intelligence to personalize experiences at scale. Founded in 2007 by David A. Steinberg and John Sculley, the Company is headquartered in New York City. For more information, please go to www.zetaglobal.com.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook, “guidance” and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. Factors that may materially affect such forward-looking statements include, but are not limited to: the impact of COVID-19 on the global economy, our customers, employees and business; potential fluctuations in our operating results, which could make our future operating results difficult to predict; our ability to innovate and make the right investment decisions in our product offerings and platform; our ability to attract and retain customers, including our scaled customers; our ability to manage our growth effectively; our ability to collect and use data online; the standards that private entities and inbox service providers adopt in the future to regulate the use and delivery of email may interfere with the effectiveness of our platform and our ability to conduct business; a significant inadvertent disclosure or breach of confidential and/or personal information we process, or a security breach of our or our customers’, suppliers’ or other partners’ computer systems; and any disruption to our third-party data centers, systems and technologies. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

The fourth quarter and full year 2021 guidance items provided herein are based on Zeta’s current estimates and are not a guarantee of future performance. This guidance is subject to significant risks and uncertainties that could cause actual results to differ materially, including the risk factors discussed in the Company's reports on file with the Securities and Exchange Commission. Zeta undertakes no duty to update any forward-looking statements or estimates.

Availability of Information on Zeta’s Website and Social Media Profiles

Investors and others should note that Zeta routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the Zeta investors website at https://investors.zetaglobal.com (“Investors Website”). We also intend to use the social media profiles listed below as a means of disclosing information about us to our customers, investors and the public. While not all of the information that the Company posts to the Investors Website or to social media profiles is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media, and others interested in Zeta to review the information that it shares at the Investors Website and to regularly follow our social media profile links located at the bottom of the page on www.zetaglobal.com. Users may automatically receive email alerts and other information about Zeta when enrolling an email address by visiting "Investor Email Alerts" in the "Resources" section of the Investors Website.

Social Media Profiles:

www.twitter.com/zetaglobal

www.facebook.com/ZetaGlobal/

www.linkedin.com/company/zetaglobal

www.instagram.com/zetaglobal/

The Following Definitions Apply to the Terms Used Throughout This Release

  • Direct Platform and Integrated Platform: When the Company generates revenues entirely through the Company platform, the Company considers it Direct Platform Revenue. When the Company generates revenue by leveraging its platform’s integration with third parties, it is considered Integrated Platform Revenue.
  • Scaled Customers: We define scaled customers as customers from which we generated more than $100,000 in revenue per year. We calculate the number of scaled customers at the end of each quarter and on an annual basis as the number of customers billed during each applicable period. We believe the scaled customers measure is both an important contributor to our revenue growth and an indicator to investors of our measurable success.
  • Scaled Customer ARPU: We calculate the scaled customer ARPU as revenue for the corresponding period divided by the average number of scaled customers during that period. We believe that scaled customer ARPU is useful for investors because it is an indicator of our ability to increase revenue and scale our business
  • Total Addressable Market (TAM): We sized our market using a bottom-up approach. We believe the size of our total addressable market to be approximately $36 billion. We calculated this figure by first estimating the total number of U.S. Large Enterprises, derived from U.S. Census Bureau data and which we define as firms with over 1,500 employees. We then further segmented the U.S. Large Enterprises by industry verticals in which Zeta maintains most relevance, yielding 9,558 companies. We multiplied this number of relevant U.S. Large Enterprises by our scaled customer ($1M+) ARPU of approximately $3.8 million, derived from internal Company data for the year ended December 31, 2020, to arrive at the TAM.

Non-GAAP Measures

In order to assist readers of our condensed unaudited consolidated financial statements in understanding the core operating results that our management uses to evaluate the business and for financial planning purposes, we describe our non-GAAP measures below. We believe these non-GAAP measures are useful to investors in evaluating our performance by providing an additional tool for investors to use in comparing our financial performance over multiple periods.

Adjusted EBITDA is a non-GAAP financial measure defined as net loss adjusted for interest expense, depreciation and amortization, stock-based compensation, income tax provision / (benefit), acquisition related expenses, restructuring expenses, change in fair value of warrants and derivative liabilities, certain dispute settlement expense, certain non-recurring IPO related expenses and other expenses / (income). Acquisition related expenses and restructuring expenses primarily consist of severance and other personnel-related costs which we do not expect to incur in the future as acquisitions of businesses may distort the comparability of the results of operations. Change in fair value of warrants and derivative liabilities is a non-cash expense related to periodically recording “mark-to-market” changes in the valuation of derivatives and warrants. Other expenses / (income) consist of non-cash expenses such as changes in fair value of acquisition related liabilities, gains and losses on extinguishment of acquisition related liabilities, gains and losses on sales of assets and foreign exchange gains and losses. In particular, we believe that the exclusion of stock-based compensation, certain dispute settlement expenses and non-recurring IPO related expenses that are not related to our core operations provides measures for period-to-period comparisons of our business and provides additional insight into our core controllable costs. We exclude these charges because these expenses are not reflective of ongoing business and operating results.

Adjusted EBITDA margin is a non-GAAP metric defined as adjusted EBITDA divided by the total revenues for the same period. Adjusted EBITDA and adjusted EBITDA margin provide us with a useful measure for period-to-period comparisons of our business as well as comparison to our peers. We believe that these non-GAAP financial measures are useful to investors in analyzing our financial and operational performance. Our use of adjusted EBITDA and adjusted EBITDA margin has limitations as an analytical tool, and you should not consider these measures in isolation or as a substitute for analysis of our financial results as reported under U.S. GAAP. Because of these and other limitations, you should consider our non-GAAP measures only as supplemental to other GAAP-based financial performance measures, including revenues and net loss.

We calculate forward-looking non-GAAP Adjusted EBITDA and Adjusted EBITDA margin based on internal forecasts that omit certain amounts that would be included in forward-looking GAAP net income (loss). We do not attempt to provide a reconciliation of forward-looking non-GAAP Adjusted EBITDA and Adjusted EBITDA margin guidance to forward looking GAAP net income (loss) because forecasting the timing or amount of items that have not yet occurred and are out of our control is inherently uncertain and unavailable without unreasonable efforts. Further, we believe that such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of financial performance.

 

ZETA GLOBAL HOLDINGS CORP.

Condensed Unaudited Consolidated Balance Sheets

(In thousands, except shares, per share and par values)

 

 

As of September 30, 2021

As of December 31, 2020

ASSETS

 

 

Current assets:

 

Cash and cash equivalents

$

116,180

 

$

50,725

 

Accounts receivable, net of allowance of $2,046 and $2,207 as of September 30, 2021 and December 31, 2020, respectively

 

72,785

 

 

79,366

 

Prepaid expenses

 

5,820

 

 

3,903

 

Other current assets

 

3,058

 

 

7,374

 

 

 

 

Total current assets

 

197,843

 

 

141,368

 

 

 

 

Property and equipment, net

 

5,869

 

 

6,117

 

Website and software development costs, net

 

38,477

 

 

32,891

 

Intangible assets, net

 

28,932

 

 

28,591

 

Goodwill

 

81,917

 

 

76,432

 

Deferred tax assets, net

 

195

 

 

366

 

Other non-current assets

 

1,063

 

 

521

 

 

 

 

Total non-current assets

 

156,453

 

 

144,918

 

 

 

 

Total assets

$

354,296

 

$

286,286

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY / (DEFICIT)

 

 

Current liabilities:

 

 

Accounts payable

$

27,905

 

$

40,976

 

Accrued expenses

 

50,619

 

 

44,622

 

Acquisition related liabilities

 

16,155

 

 

6,018

 

Deferred revenue

 

2,739

 

 

4,053

 

Other current liabilities

 

5,044

 

 

8,310

 

 

 

 

Total current liabilities

 

102,462

 

 

103,979

 

 

 

 

Non-current liabilities:

 

 

Long-term borrowings

 

183,528

 

 

189,693

 

Acquisition related liabilities

 

8,731

 

 

17,137

 

Warrants and derivative liabilities

 

-

 

 

58,100

 

Other non-current liabilities

 

3,790

 

 

2,387

 

 

 

 

Total non-current liabilities

 

196,049

 

 

267,317

 

 

 

 

Total liabilities

$

298,511

 

$

371,296

 

 

 

 

Commitments and contingencies

 

 

Mezzanine equity:

 

 

Redeemable convertible preferred stock $0.001 per share par value, up to 60,137,979 shares authorized and 39,223,194 shares issued and outstanding as of December 31, 2020

 

 

 

154,210

 

Stockholders’ equity / (deficit):

 

 

Series A common stock $0.001 per share value, up to 204,220,800 shares authorized, 112,012,693 shares issued and outstanding as of December 31, 2020

 

 

 

112

 

Treasury common stock, 8,195,464 shares repurchased at a weighted average price of $2.86 per share

 

(23,469

)

 

(23,469

)

Series B common stock $0.001 per share par value, up to 3,400,000 shares authorized, 3,054,318 shares issued and outstanding as of December 31, 2020

 

 

 

3

 

Class A common stock, par value $0.001 per share par value, up to 3,750,000,000 shares authorized and 155,022,167 shares issued and outstanding as of September 30, 2021

 

155

 

 

 

Class B common stock, par value $0.001, up to 50,000,000 shares authorized and 37,856,095 shares issued and outstanding as of September 30, 2021

 

38

 

 

 

Additional paid-in capital

 

511,929

 

 

28,425

 

Accumulated deficit

 

(430,679

)

 

(242,254

)

Accumulated other comprehensive loss

 

(2,189

)

 

(2,037

)

 

 

 

Total stockholders’ equity / (deficit)

 

55,785

 

 

(239,220

)

 

 

 

Total liabilities and stockholders’ equity / (deficit)

$

354,296

 

$

286,286

 

 

 

 

ZETA GLOBAL HOLDINGS CORP.

Condensed Unaudited Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except share and per share amounts)

 

 

Three months ended September 30,

Nine months ended September 30,

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Revenues

$

115,133

 

$

95,284

 

$

323,492

 

$

253,674

 

 

 

 

 

 

Operating expenses:

 

 

 

 

Cost of revenues (excluding depreciation and amortization)(1)

 

44,525

 

 

40,705

 

 

125,709

 

 

100,530

 

General and administrative expenses(1)

 

50,643

 

 

17,150

 

 

135,682

 

 

53,270

 

Selling and marketing expenses(1)

 

60,537

 

 

18,269

 

 

163,952

 

 

54,359

 

Research and development expenses(1)

 

13,998

 

 

6,905

 

 

50,285

 

 

23,789

 

Depreciation and amortization

 

11,783

 

 

10,133

 

 

33,135

 

 

30,171

 

Acquisition related expenses

 

480

 

 

1,230

 

 

1,516

 

 

4,321

 

Restructuring expenses

 

30

 

 

259

 

 

467

 

 

1,950

 

 

 

 

 

 

Total operating expenses

 

181,996

 

 

94,651

 

 

510,746

 

 

268,390

 

 

 

 

 

 

(Loss) / income from operations

 

(66,863

)

 

633

 

 

(187,254

)

 

(14,716

)

Interest expense

 

1,342

 

 

3,823

 

 

5,705

 

 

12,548

 

Other expenses / (income), net

 

496

 

 

(188

)

 

1,031

 

 

(546

)

Gain on extinguishment of debt

 

 

 

 

 

(10,000

)

 

 

Change in fair value of warrants and derivative liabilities

 

 

 

9,700

 

 

5,000

 

 

16,400

 

 

 

 

 

 

Total other expenses

 

1,838

 

 

13,335

 

 

1,736

 

 

28,402

 

 

 

 

 

 

Loss before income taxes

 

(68,701

)

 

(12,702

)

 

(188,990

)

 

(43,118

)

Income tax provision / (benefit)

 

428

 

 

301

 

 

(565

)

 

1,319

 

 

 

 

 

 

Net loss

$

(69,129

)

$

(13,003

)

$

(188,425

)

$

(44,437

)

 

 

 

 

 

Other comprehensive loss:

 

 

 

 

Foreign currency translation adjustment

 

(77

)

 

272

 

 

(152

)

 

(516

)

 

 

 

 

 

Total comprehensive loss

$

(69,206

)

$

(12,731

)

$

(188,577

)

$

(44,953

)

 

 

 

 

 

Net loss per share

 

 

 

 

Net loss

$

(69,129

)

$

(13,003

)

$

(188,425

)

$

(44,437

)

Cumulative redeemable convertible preferred stock dividends

 

 

 

3,774

 

 

7,060

 

 

11,150

 

 

 

 

 

 

Net loss available to common stockholders

$

(69,129

)

$

(16,777

)

$

(195,485

)

$

(55,587

)

 

 

 

 

 

Basic loss per share

$

(0.53

)

$

(0.51

)

$

(2.60

)

$

(1.70

)

 

Diluted loss per share

 

$

 

(0.53

 

)

$

(0.51

)

$

(2.60

)

$

(1.70

)

Weighted average number of shares used to compute net loss per share

 

 

 

Basic

 

129,731,980

 

 

32,607,357

 

 

75,313,520

 

 

32,607,373

 

Diluted

 

129,731,980

 

 

32,607,357

 

 

75,313,520

 

 

32,607,373

 

(1) The Company recorded the total stock-based compensation expense as follows:

 
 

 

Three months ended September 30,

Nine months ended September 30,

 

 

2021

 

2020

 

2021

 

2020

Cost of revenues (excluding depreciation and amortization)

$

1,183

$

$

1,449

$

General and administrative expenses

 

28,243

 

26

 

70,868

 

79

Selling and marketing expenses

 

35,114

 

 

94,626

 

Research and development expenses

 

4,803

 

 

21,670

 

 

 

 

 

 

Total

$

69,343

$

26

$

188,613

$

79

 

 

 

 

 

 

 

ZETA GLOBAL HOLDINGS CORP.

Condensed Unaudited Consolidated Statements of Cash Flows

(In thousands)

 
 

 

Nine months ended September 30,

 

 

 

2021

 

 

2020

 

 

Cash flows from operating activities:

 

 

 

Net loss

$

(188,425

)

$

(44,437

)

 

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

33,135

 

 

30,171

 

 

Stock-based compensation

 

188,613

 

 

79

 

 

Deferred income taxes

 

(1,635

)

 

(170

)

 

Change in fair value of warrant and derivative liabilities

 

5,000

 

 

16,400

 

 

Gain on extinguishment of debt

 

(10,000

)

 

-

 

 

Other, net

 

2,509

 

 

2,880

 

 

Changes in non-cash working capital (net of acquisitions):

 

 

 

Account receivable

 

7,423

 

 

28,967

 

 

Prepaid expenses

 

(1,917

)

 

(450

)

 

Other current assets

 

4,316

 

 

349

 

 

Other non-current assets

 

(542

)

 

1,294

 

 

Deferred revenue

 

(1,314

)

 

184

 

 

Accounts payable

 

(17,961

)

 

(325

)

 

Accrued expenses and other current liabilities

 

2,762

 

 

(19,405

)

 

Other non-current liabilities

 

1,402

 

 

1,105

 

 

 

 

 

 

Net cash provided by operating activities

 

23,366

 

 

16,642

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

Capital expenditures

 

(6,883

)

 

(1,903

)

 

Website and software development costs

 

(13,421

)

 

(17,505

)

 

Business and asset acquisitions, net of cash acquired

 

(2,159

)

 

-

 

 

 

 

 

 

Net cash used for investing activities

 

(22,463

)

 

(19,408

)

 

 

 

 

 

Cash flows from financing activities:

 

 

 

Proceeds from initial public offering, net of issuance costs

 

126,538

 

 

-

 

 

Cash paid for acquisition related liabilities

 

(64

)

 

(496

)

 

Proceeds from term loan, net of issuance cost

 

183,311

 

 

-

 

 

Proceeds from paycheck protection program loan

 

-

 

 

10,000

 

 

Repurchase of restricted stock

 

(64,468

)

 

-

 

 

Exercise of options

 

110

 

 

-

 

 

Repayments against the credit facilities

 

(180,745

)

 

(3,500

)

 

 

 

 

 

Net cash provided by financing activities

 

64,682

 

 

6,004

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

(130

)

 

(102

)

 

 

 

 

 

Net increase in cash and cash equivalents and restricted cash

 

65,455

 

 

3,136

 

 

 

 

 

 

Cash and cash equivalents and restricted cash, beginning of period

 

50,725

 

 

37,818

 

 

 

 

 

 

Cash and cash equivalents and restricted cash, end of period

$

116,180

 

$

40,954

 

 

 

 

 

 

Supplemental cash flow disclosures including non-cash activities:

 

 

 

Cash paid for interest

$

5,673

 

$

10,330

 

 

Cash paid for income taxes, net

$

1,294

 

$

1,224

 

 

Liability established in connection with acquisitions

$

1,795

 

$

 

 

Shares issued in connection with acquisitions and other agreements

$

6,650

 

$

423

 

 

Dividends on redeemable convertible preferred stock settled in Company’s equity

$

60,082

 

$

 

 

Non-cash settlement of warrants and derivative liabilities

$

63,100

 

$

 

 

Capitalized stock-based compensation expense as website and software development costs

$

8,830

 

$

 

 

Non-cash consideration for website and software development costs

$

45

$

770

 

ZETA GLOBAL HOLDINGS CORP.

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

(In thousands)

 

 

Three months ended September 30,

Nine months ended September 30,

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net loss

$

(69,129

)

$

(13,003

)

$

(188,425

)

$

(44,437

)

Net loss margin

 

(60.0

)%

 

(13.6

)%

 

(58.2

)%

 

(17.5

)%

Add back:

 

 

Interest expense

 

1,342

 

 

3,823

 

 

5,705

 

 

12,548

 

Income tax provision / (benefit)

 

428

 

 

301

 

 

(565

)

 

1,319

 

Depreciation and amortization

 

11,783

 

 

10,133

 

 

33,135

 

 

30,171

 

Stock-based compensation

 

69,343

 

 

26

 

 

188,613

 

 

79

 

IPO related expenses

 

-

 

 

 

2,705

 

 

-

 

Gain on extinguishment of debt

 

-

 

 

-

 

 

(10,000

)

 

-

 

Acquisition related expenses

 

480

 

 

1,230

 

 

1,516

 

 

4,321

 

Restructuring expenses

 

30

 

 

259

 

 

467

 

 

1,950

 

Change in fair value of warrants and derivative liabilities

 

-

 

 

9,700

 

 

5,000

 

 

16,400

 

Dispute settlement expense

 

1,196

 

 

-

 

 

1,196

 

 

-

 

Other expenses / (income)

 

496

 

 

(188

)

 

1,031

 

 

(546

)

 

Adjusted EBITDA

$

15,969

 

$

12,281

 

$

40,378

 

$

21,805

 

 

Adjusted EBITDA margin

 

13.9

%

 

12.9

%

 

12.5

%

 

8.6

%

 

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Livermore.com & California Media Partners, LLC. All rights reserved.