Adjusted EBITDA and Non-GAAP Operating Income – Definitions and Reconciliations © Exa Corporation. All rights reserved. 21 Non-GAAP Operating Income April 30, July 31, October 31, January 31, (In thousands) 2011 2012 2013 2014 2015 2014 2014 2014 2015 Operating income (loss) 3,116 $ 5,035 $ 1,960 $ (122) $ (2,447) $ (1,617) $ (919) $ 321 $ (232) $ Add back: Stock based compensation expense 281 636 924 1,210 2,230 370 500 533 827 Amortization of acquired intangible assets 0 65 383 351 350 87 88 88 87 Non-GAAP operating income 3,397 $ 5,736 $ 3,267 $ 1,439 $ 133 $ (1,160) $ (331) $ 942 $ 682 $ Adjusted EBITDA Reconciliation April 30, July 31, October 31, January 31, (In thousands) 2011 2012 2013 2014 2015 2014 2014 2014 2015 Net (loss) Income 691 $ 14,138 $ 763 $ (709) $ (19,157) $ (17,220) $ (1,009) $ 220 $ (1,148) $ Depreciation and amortization 1,356 1,502 2,009 2,185 2,917 663 731 763 760 Interest expense, net 1,411 1,284 1,631 679 330 79 92 85 74 Loss on extinguishment of debt 0 0 0 755 0 0 0 0 0 Other (income) expense (10) 213 (529) (10) (7) 0 (3) (4) 0 Foreign exchange loss (gain) 198 106 (17) 83 (344) 44 (175) (194) (19) Provision for income tax 826 (10,706) 112 (920) 16,731 15,480 176 214 861 EBITDA 4,472 6,537 3,969 2,063 470 (954) (188) 1,084 528 281 636 924 1,210 2,230 370 500 533 827 Adjusted EBITDA 4,753 $ 7,173 $ 4,893 $ 3,273 $ 2,700 $ (584) $ 312 $ 1,617 $ 1,355 $ Year Ended January 31, Non-cash, share based compensation expense Three Months Ended Three Months Ended Year Ended January 31, To supplement our consolidated financial statements, which are presented on a GAAP basis, we disclose Non-GAAP Operating (Loss) 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 (Loss) Income and Adjusted EBITDA are GAAP (loss) income from operations and GAAP net (loss) income, respectively. Reconciliations of these non-GAAP financial measures to the corresponding GAAP measures are included above. We define non-GAAP operating (loss) income as GAAP operating (loss) income excluding non-cash, stock-based compensation expense and amortization of acquired intangible assets. We define EBITDA as net (loss) income, 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: |
