Andersen Group Inc.
For the period ended May 12, 2026. Filed May 12, 2026.
View on SEC.govAbout this filing
A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
May 12, 2026 · Filed May 12, 2026
Use the contents to explore the available documents and sections.
Contents
EX-99.1 · EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin
EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin
We define EBITDA as net income plus income tax expense, interest expense, and depreciation and amortization less interest income. We define Adjusted EBITDA as EBITDA with adjustments to exclude results from expenses related to transaction activities, including costs related to planned mergers, acquisitions, and business combinations, non-recurring equity restructuring costs andnon-cash equity-based compensation expense associated with equity interests that were issued in anticipation of, and in connection with, the IPO. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. The following table is a reconciliation of net income to EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin for each of the periods indicated:
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| ($ in thousands) | ||
| Net Income | $17,738 | $50,576 |
| Interest income | (1,879) | (1,200) |
| Interest expense | 6,234 | 143 |
| Depreciation and amortization | 2,274 | 2,095 |
| Income tax expense | 2,813 | 4,130 |
| EBITDA | 27,180 | 55,744 |
| Transaction costs(1) | 4,049 | 1,433 |
| Equity-based compensation associated with vesting of Class X Aggregator Units(2) | 41,071 | — |
| Adjusted EBITDA | $72,300 | $57,177 |
| Revenue | $240,746 | $208,067 |
| Net Income Margin | 7.4% | 24.3% |
| Adjusted EBITDA Margin | 30.0% | 27.5% |
| (1) | Transaction costs include certain legal, accounting and consulting costs incurred related to planned mergers, acquisitions and business combinations during the three months ended March 31, 2026 and certain legal, accounting and consulting costs incurred for public company readiness not eligible for capitalization and related to the planned restructuring during the three months ended March 31, 2025. |
| (2) | Equity-based compensation expense associated with the vesting of Class X Aggregator Units consists of non-cash expenses associated with the vesting of Class X Aggregator Units, which were part of the Reorganization Transactions. We recognized $37.5 million of non-cash equity-based compensation expense associated with Class X Aggregator Units in cost of services and $3.6 million in sales, general and administrative expense during the three months ended March 31, 2026. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.