Voyager Technologies, Inc./DE
For the period ended Nov 3, 2025. Filed Nov 3, 2025.
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Nov 3, 2025 · Filed Nov 3, 2025
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Contents
EX-99.1 · TABLE 2 - ADJUSTED EBITDA
TABLE 2 - ADJUSTED EBITDA
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| (dollars in thousands) | September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 |
| Net loss attributable to Voyager Technologies, Inc. | $(16,273) | $(14,967) | $(74,593) | $(53,112) |
| Finance and interest expense, net | 200 | 2,940 | 5,452 | 9,029 |
| Depreciation and amortization | 3,130 | 4,124 | 8,440 | 9,595 |
| Income tax expense (benefit) | (1,762) | 92 | (1,633) | 218 |
| EBITDA | (14,705) | (7,811) | (62,334) | (34,270) |
| Stock-based compensation | 2,120 | 845 | 15,390 | 2,688 |
| Business acquisition costs(1) | 482 | 25 | 922 | 255 |
| Restructuring(2) | 613 | 313 | 1,560 | 1,975 |
| Impairment losses | — | 3,594 | — | 3,594 |
| Net loss attributable to noncontrolling interests | (2,063) | (280) | (4,737) | (3,138) |
| Interest income | (4,313) | (1,386) | (7,826) | (1,386) |
| Other(3) | 173 | (4,129) | 8,910 | 6,580 |
| Adjusted EBITDA | $(17,693) | $(8,829) | $(48,115) | $(23,702) |
(1)Business acquisition costs include legal costs and incremental transaction costs associated with an acquisition.
(2)Restructuring includes costs for retention and severance payments related to management’s decision to undertake certain actions to realign our cost structure through workforce reductions and the closure of certain facilities, businesses and product lines.
(3)Other includes capital market and advisory fees related to advisors assisting with transitional activities associated with becoming a public company, changes in fair value of earn out liabilities, and foreign exchange gain/loss that are all individually insignificant for the period. Other also contains debt extinguishment costs of $7.8 million for the nine months ended September 30, 2025, $0.6 million for the three months ended September 30, 2024, and $11.3 million for the nine months ended September 30, 2024. There were no debt extinguishment costs for the three months ended September 30, 2025.
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