Minim Reports 27% Sequential Growth in First Quarter 2022 Revenue to $13.3 Million
| MINIM, INC. |
| Reconciliation of GAAP to Non-GAAP Measures |
| (Unaudited) |
| (in thousands, except per share data) |
| | | | | | | | |
| | | Three Months Ended March 31, | |
| | | 2022 | | 2021 | |
| | | | | | | | |
| GAAP net loss to Non-GAAP Adjusted EBITDA reconciliation: | | | | |
| GAAP-based net loss | | $ | (2,539) | | $ | (546) | |
| Add: Other income and taxes | | | 84 | | | 10 | |
| Add: Depreciation and Amortization | | | 131 | | | 167 | |
| GAAP-based EBITDA | | | (2,324) | | | (369) | |
| Adjustments to GAAP-based EBITDA: | | | | | | | |
| Add: GAAP sales net to revenue bookings | | | 97 | | | 228 | |
| Add: Merger deal costs | | | –– | | | 116 | |
| Add: Stock-based compensation expense | | | 563 | | | 405 | |
| Total adjustments | | | 660 | | | 749 | |
| Non-GAAP-based Adjusted EBITDA | | $ | (1,664) | | $ | 380 | |
| | | | | | | | |
