RF INDUSTRIES, LTD. AND SUBSIDIARIES
Unaudited Reconciliation of GAAP to Non-GAAP Net Income
(In thousands, except share and per share amounts)
| Three Months Ended | Fiscal Year Ended | |||||||||||||||
| October 31, | October 31, | |||||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||||
Consolidated net (loss) income | $ | (851 | ) | $ | 451 | $ | (3,078 | ) | $ | 1,448 | ||||||
Stock-based compensation expense | 211 | 191 | 898 | 689 | ||||||||||||
Acquisition-related and other one-time charges | 150 | 440 | 851 | 2,017 | ||||||||||||
Severance | - | - | 75 | 45 | ||||||||||||
Amortization expense | 422 | 432 | 1,701 | 1,282 | ||||||||||||
Non-GAAP net (loss) income | $ | (68 | ) | $ | 1,514 | $ | 447 | $ | 5,481 | |||||||
Non-GAAP earnings per share: | ||||||||||||||||
Basic | $ | (0.01 | ) | $ | 0.15 | $ | 0.04 | $ | 0.54 | |||||||
Diluted | $ | (0.01 | ) | $ | 0.15 | $ | 0.04 | $ | 0.54 | |||||||
Weighted average shares outstanding | ||||||||||||||||
Basic | 10,330,325 | 10,178,081 | 10,283,449 | 10,120,254 | ||||||||||||
Diluted | 10,330,325 | 10,272,287 | 10,283,449 | 10,242,417 | ||||||||||||
RF INDUSTRIES, LTD. AND SUBSIDIARIES
Unaudited Reconciliation of Net Income to Adjusted EBITDA
(In thousands)
| Three Months Ended | Fiscal Year Ended | |||||||||||||||
| October 31, | October 31, | |||||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||||
Consolidated net (loss) income | $ | (851 | ) | $ | 451 | $ | (3,078 | ) | $ | 1,448 | ||||||
Stock-based compensation expense | 211 | 191 | 898 | 689 | ||||||||||||
Acquisition-related and other one-time charges | 150 | 440 | 851 | 2,017 | ||||||||||||
Severance | - | - | 75 | 45 | ||||||||||||
Amortization expense | 422 | 432 | 1,701 | 1,282 | ||||||||||||
Depreciation expense | 216 | 104 | 732 | 408 | ||||||||||||
Other expense | 110 | 321 | 453 | 601 | ||||||||||||
(Benefit) provision for income taxes | (366 | ) | (57 | ) | (1,172 | ) | 139 | |||||||||
Adjusted EBITDA | $ | (108 | ) | $ | 1,882 | $ | 460 | $ | 6,629 | |||||||
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