| (1) | The Company uses a non-GAAP effective tax rate of 25%. |
| (2) | The year ending December 31, 2024, includes a $0.1 million loss from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition, and $0.9 million of currency losses on acquisition-related intercompany loans. |
The following table provides a reconciliation of projected Adjusted EBITDA to projected net (loss) income, the most comparable GAAP financial measure:
| (Unaudited) | ||||||||||||||||
|
Three Months Ending
June 30, 2024 |
Year Ending
December 31, 2024 | |||||||||||||||
| (in thousands) | Low | High | Low | High | ||||||||||||
| Net (loss) income | $ | (12,300 | ) | $ | (9,400 | ) | $ | 23,200 | $ | 30,900 | ||||||
| Income tax expense | 3,800 | 3,900 | 19,500 | 19,800 | ||||||||||||
| Stock-based compensation expense | 17,800 | 17,800 | 72,500 | 72,500 | ||||||||||||
| Interest (income) expense | (3,800 | ) | (3,800 | ) | (15,800 | ) | (15,800 | ) | ||||||||
| Depreciation and amortization | 9,500 | 9,500 | 37,600 | 37,600 | ||||||||||||
| Special adjustments and other(1) | — | — | 1,000 | 1,000 | ||||||||||||
| Adjusted EBITDA | $ | 15,000 | $ | 18,000 | $ | 138,000 | $ | 146,000 | ||||||||
