In thousands of USD In thousands of USD
------------------------------------------------------------- -----------------------------------------------------------
Change in
cash, cash
equivalents
and
deposits (159,352) (90,807) (81,731) (3,082)
Repurchase
of treasury
shares 85,726 69,755 65,985 -
Net Cash
Burn (73,626) (21,052) (15,746) (3,082)
For the For the For the For the
Nine-Months Nine-Months Three-Month Three-Months
Period Ended Period Ended Period Ended Period Ended
September 30, September 30, September 30, September 30,
2023 2024 2023 2024
In thousands of USD In thousands of USD
----------------------------- ---------------------------------
Loss for the
period (54,320) (87,863) (66,873) (8,640)
Gain (loss)
from
revaluation
of the
investment
in
Stratasys
shares 16,966 (57,880) (40,325) (776)
Net Loss
excluding
changes in
Company's
holdings in
Stratasys
shares (71,286) (29,983) (26,638) (7,864)
EBITDA is a non-IFRS measure and is defined as income before taxes, excluding depreciation and amortization expenses and interest income. We believe that EBITDA, as described above, should be considered in evaluating the Company's operations. EBITDA facilitates the Company's performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures, and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), and EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company's operating performance without regard to the items mentioned above.
Adjusted EBITDA is a non-IFRS measure and is defined as earnings before other financial income, income tax, depreciation and amortization, share-based payments and other extraordinary income, net, which consists of additional compensation for damaged fixed assets. Other financial expenses (income), net includes exchange rate differences as well as finance income or revaluation of assets and liabilities. We believe that Adjusted EBITDA, as described above, should also be considered in evaluating the company's operations. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting other financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payment expenses, and Adjusted EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company's operating performance without regard to non-cash items, such as expenses related to share-based payments.
Adjusted gross profit, excluding depreciation and amortization and share-based compensation expenses, is a non-IFRS measure and is defined as gross profit excluding amortization expenses. We believe that adjusted gross profit, as described above, should also be considered in evaluating the Company's operations. Adjusted gross profit facilitates gross profit and gross margin comparisons from period to period and company to company by backing out potential differences caused by variations in amortization of inventory and intangible assets. Adjusted gross profit is useful to an investor in evaluating our performance because it enables investors, securities analysts and other interested parties to measure a company's performance without regard to non-cash items, such as amortization expenses. Adjusted gross margin is calculated by dividing the adjusted gross profit by the revenues.
EBITDA, Adjusted EBITDA, and Adjusted gross profit do not represent cash generated by operating activities in accordance with IFRS and should not be considered alternatives to net income (loss) as indicators of our operating performance or as measures of our liquidity. These measures should be considered in conjunction with net income (loss) as presented in our consolidated statements of profit or loss and other comprehensive income. Other companies may calculate these measures differently than we do.
Net Loss excluding changes in Company's holdings in Stratasys' shares. We believe that by excluding the value of the Company's holdings in Stratasys' shares we neutralize the volatility of these shares and provide investors an additional measurement to evaluate the operating performance of the Company and its liquidity. This measurement should not be considered as an alternative to net income (loss) as an indicator of our operating performance or as a measure of our liquidity. This measurement should be considered in conjunction with net income (loss) as presented in our consolidated statements of profit or loss and other comprehensive income.
Net cash burn is a non-IFRS measure and defined as the change in cash, cash equivalents and deposits net of treasury shares repurchase and Stratasys shares. We believe that net cash burn, as described above, should be considered in evaluating the Company's financial strength. Net cash burn gives a sense of how our use of cash and cash flow has changed overtime.
(1) Excluding cost of revenues from depreciation and share-based payments expenses.
(2) Change in cash, cash equivalents and deposits net of treasury shares repurchase
(3) The December 31, 2023 balances were derived from the Company's audited annual financial statements
(END) Dow Jones Newswires
November 20, 2024 07:30 ET (12:30 GMT)
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