(1) | Included in 2020 are a) $1.0 million of proceeds from settlements related to a historical acquisition for both the three and nine months ended September 30, 2020, and b) $0.6 million of severance expense for the nine months ended September 30, 2020.
Included in 2019 are a) nonrecurring severance expenses of $0.4 million and nonrecurring acquisition related costs of $0.6 million for both the three and nine months ended September 30, 2019, and b) impairment charges for royalty contracts of $1.0 million for the nine months ended September 30, 2019. |
The following table provides a reconciliation of Adjusted EBITDA to net loss, the most comparable GAAP financial measure:
(Unaudited) | |||||||||||||||
Three Months Ended
September 30, |
Nine Months Ended
September 30, | ||||||||||||||
(in thousands) | 2020 | 2019 | 2020 | 2019 | |||||||||||
Net loss | $ | (8,505 | ) | $ | (15,939 | ) | $ | (12,698 | ) | $ | (6,040 | ) | |||
Income tax expense | 2,930 | 3,294 | 10,350 | 7,215 | |||||||||||
Stock-based compensation expense | 6,234 | 2,292 | 13,939 | 5,584 | |||||||||||
Interest expense | 2,934 | 2,726 | 8,590 | 3,586 | |||||||||||
Interest income and other (1) | (1,041 | ) | (76 | ) | (1,501 | ) | 633 | ||||||||
Depreciation and amortization | 5,623 | 5,368 | 16,916 | 15,836 | |||||||||||
Adjusted EBITDA | $ | 8,175 | $ | (2,335 | ) | $ | 35,596 | $ | 26,814 |