Adjusted EBITDA and Non-GAAP Operating Income – Definitions and Reconciliations 23 © Exa Corporation. All rights reserved. Non-GAAP Operating Income (In thousands) 2011 2012 2013 2014 Operating (loss) income 3,116 $ 5,035 $ 1,960 $ (122) $ Add back: Stock based compensation expense 281 636 924 1,210 Amortization of acquired intangible assets 0 65 383 351 Non-GAAP operating income 3,397 $ 5,736 $ 3,267 $ 1,439 $ Adjusted EBITDA Reconciliation (In thousands) 2011 2012 2013 2014 Net (loss) Income 691 $ 14,138 $ 763 $ (709) $ Depreciation and amortization 1,356 1,502 2,009 2,185 Interest expense, net 1,411 1,284 1,631 679 Loss on extinguishment of debt 0 0 0 755 Other (income) expense (10) 213 (529) (10) Foreign exchange loss (gain) 198 106 (17) 83 Provision for income tax 826 (10,706) 112 (920) EBITDA 4,472 6,537 3,969 2,063 281 636 924 1,210 Adjusted EBITDA 4,753 $ 7,173 $ 4,893 $ 3,273 $ Year Ended January 31, Year Ended January 31, Non-cash, share based compensation expense To supplement our consolidated financial statements, which are presented on a GAAP basis, we disclose Non-GAAP Operating Income and Adjusted EBITDA, non-GAAP measures that exclude certain amounts. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. The GAAP measures most comparable to Non-GAAP Operating Income and Adjusted EBITDA are GAAP income from operations and GAAP net income (loss), respectively. Reconciliations of these non-GAAP financial measures to the corresponding GAAP measures are included above. We define non-GAAP operating income as GAAP operating income excluding non-cash, stock-based compensation expense and amortization of acquired intangible assets. We define EBITDA as net income (loss), excluding depreciation and amortization, interest expense, loss on extinguishment of debt, other income (expense), foreign exchange gain (loss) and provision for income taxes. We define Adjusted EBITDA as EBITDA, excluding non-cash share-based compensation expense. Note: |
