Research Solutions Inc
For the period ended May 9, 2024. Filed May 9, 2024.
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May 9, 2024 · Filed May 9, 2024
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Contents
EX-99.1 · Use of Non-GAAP Measure – Adjusted EBITDA
Use of Non-GAAP Measure – Adjusted EBITDA
Research Solutions’ management evaluates and makes operating decisions using various financial metrics. In addition to the company’s GAAP results, management also considers the non-GAAP measure of Adjusted EBITDA. Management believes that this non-GAAP measure provides useful information about the company’s operating results.
The tables below provide a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure. Adjusted EBITDA is defined as net income (loss), plus interest expense, other income (expense), foreign currency transaction loss, provision for income taxes, depreciation and amortization, stock-based compensation, gain on sale of discontinued operations, and other potential adjustments that may arise. Set forth below is a reconciliation of Adjusted EBITDA to net income (loss):
| Quarter Ended March 31, | Nine Months Ended March 31, | |||||||
|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | Change | % Change | 2024 | 2023 | Change | % Change | |
| Net Income (loss) | $76,301 | $236,842 | $(160,541) | -67.8% | $(965,370) | $195,877 | $(1,161,247) | NM |
| Add (deduct): | - | |||||||
| Other income (expense) | (31,228) | (104,331) | 73,103 | -70.1% | (547,965) | (218,095) | (329,870) | 151.3% |
| Foreign currency translation loss | 22,177 | (72,547) | 94,724 | NM | 15,059 | (84,210) | 99,269 | 117.9% |
| Provision for income taxes | 42,590 | 628 | 41,962 | NM | 82,049 | 5,543 | 76,506 | NM |
| Depreciation and amortization | 309,898 | 18,332 | 291,566 | 1590.5% | 525,267 | 30,486 | 494,781 | 1623.0% |
| Stock-based compensation | 541,002 | 480,458 | 60,544 | 12.6% | 1,729,271 | 1,264,522 | 464,749 | 36.8% |
| Gain on sale of disc. ops. | - | - | - | - | - | - | ||
| Adjusted EBITDA | $960,740 | $559,382 | $401,358 | 71.8% | $838,311 | $1,194,123 | $(355,812) | -29.8% |
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