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| Slide 13
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| © 2024 AeroVironment, Inc.
APPENDIX D – HISTORICAL ADJUSTED EBITDA RECONCILIATION –
(in thousands)
Fiscal 3rd Quarter
FY2023
Fiscal 4th Quarter
FY2023
Full Fiscal Year
FY23
Fiscal 1st Quarter
FY2024
Fiscal 2nd Quarter
FY2024
Fiscal 3rd Quarter
FY2024
Net Income from continued operations $ (676) $ (160,473) $ (176,212) $ 21,895 $ 17,840 $ 13,885
Interest Expense / (Income), net 2,810 2,646 9,368 2,008 1,951 114
Tax provision / (benefit) (531) (6,282) (14,665) 1,314 1,137 1,259
Depreciation 8,652 10,272 36,980 3,786 4,023 3,986
Amortization 7,182 41,618 63,019 3,165 4,413 5,596
Depreciation and amortization (1) 15,834 51,890 99,999 6,951 8,436 9,582
EBITDA (Non-GAAP) $ 17,437 $ (112,218) $ (81,510) $ 32,168 $ 29,362 $ 24,840
FV Step-up amortization incl. in Loss on disposal of PP&E 24 0 192 0 0 0
Cloud amortization 139 158 561 203 203 488
Stock-based compensation 2,706 3,657 10,765 3,204 5,040 4,181
Acquisition-related expenses 286 196 1,386 673 1,093 (54)
Arcturus Goodwill Impairment 156,017 156,017
Equity method and equity security investment activity 3,142 (1,404) 2,583 1,034 3,842 (671)
Non-controlling interest 0 0 45 0 0 0
One-time legal settlement
Legal accrual related to our former EES business 0
Sale of ownership in HAPSMobile JV 0
Adjusted EBITDA (Non-GAAP) $ 23,734 $ 46,406 $ 90,039 $ 37,282 $ 39,541 $ 28,784 |