| (1) | The Company uses a non-GAAP effective tax rate of 25%. | |
| (2) | The year ending December 31, 2024, includes a $0.2 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
September 30, 2024 |
Year Ending
December 31, 2024 | |||||||||||||||
| (in thousands) | Low | High | Low | High | ||||||||||||
| Net (loss) income | $ | (14,000 | ) | $ | (11,100 | ) | $ | 22,600 | $ | 30,300 | ||||||
| Income tax expense | 5,400 | 5,500 | 19,000 | 19,300 | ||||||||||||
| Stock-based compensation expense | 17,800 | 17,800 | 68,900 | 68,900 | ||||||||||||
| Interest (income) expense | (3,900 | ) | (3,900 | ) | (16,200 | ) | (16,200 | ) | ||||||||
| Depreciation and amortization | 10,700 | 10,700 | 40,600 | 40,600 | ||||||||||||
| Special adjustments and other(1) | — | — | 1,100 | 1,100 | ||||||||||||
| Adjusted EBITDA | $ | 16,000 | $ | 19,000 | $ | 136,000 | $ | 144,000 | ||||||||
