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DEERFIELD, Ill. , Aug. 09, 2022 (GLOBE NEWSWIRE) — Surgalign Holdings, Inc. , (NASDAQ: SRGA), a global medical generation company whose goal is to increase the popularity of care by driving the evolution of virtual surgery, announced effects for its current quarter of 2022 ended June 30, 2022.
Highlights and upcoming occasions for the quarter of 2022:
First, a successful surgical procedure, the HOLO Portal™ surgical direction formula in Indiana and further expansion in Ohio with other sites in the pipeline.
Launch of the Surgalign Patient Access Program®: A strategic partnership formed with PRIA Healthcare to assist the patient’s program and healthcare coverage.
Recovery of the CervAlign® anterior cervical plate system.
Launch of the Fortilink-A® interbody with the TiPlus™ generation that expands the addressable market.
Consolidation of stocks 1 by 30 carried out in May 2022.
“We have made significant progress in bringing new products to market while building a strong foundation for the future,” said Terry Rich, president and chief executive officer of Surgalign Holdings. “We have expanded the success of our HOLO Portal surgical steering system, with success stories in Indiana and Ohio, and are poised to secure more sites in the United States. Our plan remains to have between 10 and 15 sites operational by the end of the year and we are in talks with another 20 potential sites.
Mr. Rich continued, “Our short-term goal is the commercialization of the HOLO Portal system, the integration of procedural technologies, and the expansion of our HOLO™ AI Platform capabilities. At the same time, we will continue to expand our engineering capabilities, commercialize new products, and leverage our distribution to increase commodity sales globally. The new products we have introduced are gaining traction and there is a lot of enthusiasm in Surgalign. We are well placed for expansion in this part of the year, specifically in the fourth quarter, with stronger long-term prospects. “
Second trimester comparisons
Total profit for the 3 months ended June 30, 2022 $20. 6 million, compared to $24. 8 million for the same was last year. The decline in profit is basically similar to staff shortages in hospitals and surgical centers, delays in procedures caused by the pandemic, and origin chain restrictions.
The Company reported gross margins of 68. 9% and 70. 9% for the 3 months ended June 30, 2022 and 2021 respectively, with the minimum being similar to an accumulation of share cancellations similar to the continued rationalization of products.
On a non-GAAP basis, the Company reported gross margin of 73. 5% for the 3 months ended June 30, 2022, compared to a gross margin of 73. 1% for last year’s comparable era.
Total operating expenses for the three months ended June 30, 2022 were $27. 6 million, compared to $30. 9 million for the same period last year, a low of $3. 3 million or 10. 6%. expenses due to cost relief due to the continuous simplification of the distribution and management infrastructure. In addition, there is a $1. 2 million reduction in “asset write-offs and abandonments” due to the depreciation of the ERP formula in 2021 and a relief in capital expenditures in 2022. This was partially offset through an accumulation of $0. 9 million in “research and progression” expenses. Related to the continued progression of the HOLO AI platform and the receipt of regulatory approval.
On a non-GAAP basis, overhead operating expenses for the 3 months ended June 30, 2022 were $27. 5 million and the 3 months ended June 30, 2021 were $27. 4 million. Excluding non-GAAP operating expenses for the current quarter of 2022, there were approximately $1. 0 million in impairment expenses similar to tool impairment in the quarter, $0. 2 million in transaction prices and integration similar to issue prices for newly issued warrants, non-cash stocks, based on redemption of $0. 9 million and a gain of $2. 0 million due to fair price changes in the Holo Surgical Inc. Contract Milestones
The Company recorded an operating loss of $13. 4 million for the 3 months ended June 30, 2022, compared to an operating loss of $13. 3 million for the same time last year. millions, compared to a net loss from ongoing operations of $10. 6 million for the same was last year.
Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) for the 3 months ended June 30, 2022 were a loss of $11. 7 million, to a loss of adjusted EBITDA of $8. 5 million for the same time last year.
As of June 30, 2022, the money and money equivalents were approximately $29. 3 million. This compares to the $51. 3 million reported as of December 31, 2021.
Cumulative comparisons of six months
Total profit for the six months ended June 30, 2022 was $41. 2 million, compared to $48. 1 million in the same period last year. The decline in profits is basically similar to the effect of the global pandemic, which has led to minimization in surgical procedures and the shortage of hospital staff in the United States, among other factors.
The Company reported gross margins of 68. 9% and 72. 0% for the six months ended June 30, 2022 and 2021 respectively, with the minimum similar to an accumulation in share cancellations similar to continued product rationalization.
On a non-GAAP basis, the Company reported gross margin of 72. 2% for the six months ended June 30, 2022, compared to a gross margin of 74. 3% for last year’s like-for-like era.
Total operating expenses for the six months ended June 30, 2022 were $50. 7 million, compared to $62. 4 million for the same period last year, a low of $11. 7 million or 18. 7%. The main reason is the minimum in the historical valuation of the Holo contract through approximately $8. 1 million, which is identified in the line “Acquisition Contingency Gain” in the condensed consolidated statements of total loss. through further simplification of administrative and distribution infrastructure. In addition, there is a $2. 4 million reduction in “asset write-downs and abandonments” due to the depreciation of ERP formula prices in 2021 and a relief in capital expenditures. This partially offset through a cumulative $2. 5 million in “research and progression” expenses similar to the continued progression of the HOLO AI platform and obtaining Alabama regulatory approval.
On a non-GAAP basis, overhead operating expenses for the six months ended June 30, 2022 were $55. 8 million, compared to $55. 3 million for the same time last year. Excluding non-GAAP operating expenses in the second quarter, there was approximately $1. 9 million in impairment of asset impairment expenses similar to tool impairment in the quarter, $1. 1 million in transaction and integration expenses similar to financings, non-cash stock-based redemption of $2. 3 million and a profit of $10. 5 million due to fair price changes to milestones of the Holo Surgical Inc. Contract.
The Company recorded an operating loss of $22. 3 million in the six months ended June 30, 2022, compared to an operating loss of $27. 7 million in the comparable era last year. millions, compared to a net loss from ongoing operations of $25. 8 million for the same was last year.
Adjusted earnings before interest, taxes, depreciation and amortization for the six months ended June 30, 2022 were a loss of $25. 0 million, to a loss in adjusted EBITDA of $18. 3 million for last year’s comparable era.
Business Outlook for Fiscal Year 2022
The company reconfirmed its full-year profit outlook of $86 million to $90 million.
Conference
Surgalign will hold a conference call and audio webcast at 4:30 p. m. m. And today. The convention call can be accessed by dialing (888) 645-4404 (USA). USA) or (404) 267-0371 (international). The webcast can be accessed through the investor segment of Surgalign’s online page in surgalign. com/investors/. A The convention call replay will be available on Surgalign’s online page for one month after the call.
About Surgalign Holdings, Inc.
Surgalign Holdings, Inc. es a global medical generation company committed to the promise of virtual fitness and presents its virtual surgery platform to drive transformation in the surgical landscape. Only aligned and endowed with resources to promote popular care, the company is emerging technologies that surgeons will turn to for what is truly imaginable for their patients. Surgalign aims to offer solutions to surgeons that, in a predictable manner, deliver excellent clinical and economic outcomes. Surgalign markets its products throughout the United States and in approximately 50 countries around the world through an emerging network of leading independent distributors. Surgalign is headquartered in Deerfield, IL, with shopping, innovation and design centers in San Diego, California, Warsaw and Poznan, Poland and Wurmlingen, Germany. Learn more about www. surgalign. com and join it on LinkedIn and Twitter.
Forward-Looking Statement
This press release comprises forward-looking statements based on control’s existing expectations, estimates and projections regarding our industry, our control’s ideals and safe assumptions made through our control. Words such as “anticipate”, “expect”, “try”, “anticipate”, “believe”, “seek”, “estimate”, diversifications of those words, and similar expressions are intended to identify forward-thinking people. Forward-looking statements are not promises of long-term functionality and are based on safe assumptions, aggregating general economic conditions, as well as those of the business industry, and many other known points and dangers in the most recent Form 10-K. corporate and other presentations. with the SEC. Our actual effects may differ slightly from the expected effects reflected in those forward-looking statements. Important points that may also cause actual effects to differ slightly from the expected effects reflected in those forward-looking statements come with the dangers and uncertainties related to the following: (i) dangers related to existing or potential litigation or regulatory actions; (ii) identification of control deficiencies, adding curtain weaknesses in internal control over monetary information; (iii) general global economic conditions and material uncertainties; (iv) the continuing effect of COVID-19 and the Company’s attempts to mitigate it, i. e. , on foreign market positions serviced through the Company; (v) the Company’s ability to properly identify, expand and implement its strategic initiatives, adding to its virtual surgery strategy; (vi) the reliability of our supply chain; (vii) our ability to meet our legal responsibilities, aggregate procurement minimums, under our supplier and other agreements; (viii) if the demand for procedures related to our products increases; (ix) the Company’s access to good enough operating cash flow, industry credits, borrowed budget and equity to finance its operations and pay its legal liabilities when due, and the terms on which external financing would possibly be available, adding having an effect of adverse trends or disruptions in global credit and equity market positions; (x) our monetary condition and effects, general income, products, gross margin and operations; (xi) the non-realization, or the unexpected prices of seeking the realization, of the expected benefits of the acquisitions of Holo Surgical Inc. (“Holo Surgical”) and International Networks Inc. (“INN”), adding the failure of the acquisitions of Holo Surgical and INN products and facilities to successfully expand or discharge applicable regulatory approvals or as a result of a lack of market positioning and distribution of their products; (xii) lack of proper integration of Holo Surgical and INN operations with those of the Company, adding: retention of key personnel; the effect on relationships with customers, suppliers and other third parties; and deviation from control time and attention to integration; (xiii) the number of inventories and the amount of money that will be required in connection with any post-closing bills, adding as a result of adjustments to the market position value of the Company’s non-unusual inventory and its effect on the amount of money needed through the Company to fund all acquisition-like post-closing milestone invoices; (xiv) forbearance of recent quality issues with our global supply chain; (xv) the effect and opportunity of the adjustments in the legislation or government regulations; and (xvi) other hazards described in our public filings with the SEC. These points deserve careful consideration and deserve not to place undue reliance on forward-thinking companies. Each forward-looking statement contained in this release refers only to the date of the specific parent. Copies of the Company’s SEC filings may possibly be downloaded by contacting the Company or the SEC or by visiting the Surgalign website at http://www. surgalign . com/ or the SEC’s website at http://www. sec. gov/. We do not assume any legal responsibility to update those prospective emails, unless required by law.
Investor Contact and Media Relations: Glenn WienerGW CommunicationsT: 1 (917) 887-8434E: gwiener@gwcco. com
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Consolidated statements of operations
(Unaudited, in thousands, consistent with the consistent percentage and consistent with the consistent percentage)
For the 3 months completed
For the six months completed
30 June,
30 June,
2022
2021
2022
2021
Revenue
Ps
20 623
Ps
24 834
Ps
41 228
Ps
48 125
cost of sale
6 414
7 229
12 824
13 467
Gross profit
14 209
17 605
28 404
34 658
Operating expenses:
General and administrative
24 289
25 541
49 606
51 701
Research and development
4 082
3 183
8,530
6 059
Gain on acquisition contingency
(1 990
)
(2 236
)
(10 493
)
(2 287
)
Asset rebates and abandonments
996
2 206
1 935
4 382
Transaction and integration fees
222
2 188
1 138
2 510
Total expenses
27 599
30 882
50 716
62 365
business interruption
(13 390
)
(13 277
)
(22 312
)
(27 707
)
Other (income) – net
Other (income) – net
22
(101
)
49
(105
)
Interest expense
252
—
504
—
Foreign loss (gain)
1 056
(95
)
1 409
450
Change in the fair of the liabilities by guarantee
(9 124
)
(2 523
)
(18 867
)
(2 523
)
Total (income) – net
(7 794
)
(2 719
)
(16 905
)
(2 178
)
(Loss) before provision for the source of income tax
(5 596
)
(10 558
)
(5 407
)
(25 529
)
Provision for the source of income tax
92
81
65°
300
(Net Loss) of Operations
(5 688
)
(10 639
)
(5 661
)
(25 829
)
Discontinued operations (Note 3)
(Loss) due to discontinued operations
—
(6 316
)
—
(6 316
)
Income tax (profit)
—
(763
)
—
(763
)
(Loss) of discontinued operations
—
(5 553
)
—
(5 553
)
Net loss)
(5 688
)
(16 192
)
(5 661
)
(31 382
)
Non-majority interests
Net source of income attributable to non-controlling holdings
—
—
—
—
(Net Loss) for Surgalign Holdings, Inc.
(5 688
)
(16 192
)
(5 661
)
(31 382
)
Other income
Unrealized loss (gain) on currency conversion
(313
)
35
(422
)
(36
)
Overall total (losses)
Ps
(5 375
)
Ps
(16 227
)
Ps
(5 239
)
Ps
(31 346
)
(Net loss) for proceedings consistent with consistent percentages applicable to Surgalign Holdings, Inc. – base
Ps
(0,86
)
Ps
(2,79
)
Ps
(0,92
)
Ps
(7. 29
)
(Loss) of discontinued or consistent operations consistent with the consistent percentage applicable to Surgalign Holdings, Inc. – basic
Ps
0,00
Ps
(1. 46
)
Ps
0,00
Ps
(1,57
)
(Net Loss) consistent with the percentage applicable to the base of Surgalign Holdings, Inc.
Ps
(0,86
)
Ps
(4. 25
)
Ps
(0,92
)
Ps
(8. 86
)
(Net Loss) by proceedings consistent with consistent percentages applicable to Surgalign Holdings, Inc. – diluted
Ps
(0,86
)
Ps
(2,79
)
Ps
(0,92
)
Ps
(7. 29
)
(Net Loss) of discontinued or consistent operations consistent with the consistent percentage applicable to Surgalign Holdings, Inc. – diluted
Ps
0,00
Ps
(1. 46
)
Ps
0,00
Ps
(1,57
)
(Net Loss) consistent with the percentage applicable to Surgalign Holdings, Inc. – diluted
Ps
(0,86
)
Ps
(4. 25
)
Ps
(0,92
)
Ps
(8. 86
)
Weighted average of notable actions – basic
6 640 405
3 808 475
6 174 273
3 542 497
Weighted average number of notable shares – diluted
6 640 405
3 808 475
6 174 273
3 542 497
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Condensed consolidated sheets
(Unaudited, in thousands)
30 June,
31 December,
2022
2021
The advantages
In Cash
Ps
29 344
Ps
51 287
Accounts receivable – net
20 502
19 197
Current – net
25 334
26 204
Prepaid and assets
11 622
9 984
Total assets
86 802
106,672
Non-current – net
11 734
10 212
Tangible capital – net
1 321
945
Other – net
5 840
5 970
Total assets
Ps
105 697
Ps
123 799
Passive, mezzanine and
Accounts payable
Ps
10 557
Ps
10 204
Current Acquisition Contingency Portion – Holo
9 042
25 585
Accrued liabilities and existing liabilities
17 214
17 769
Taxes on the source of income to be paid
434
484
Total liability
37 247
54 042
Bills payable – similar part
10 087
9 982
Acquisition Contingencies – Holo
22 393
26 343
Mandate responsibility
1 554
12,013
Other long-term liabilities
3 575
3 176
Total responsibilities
74 856
105 556
Mezzanine equity
10 006
10 006
Equity:
Common stocks and factor premiums
598 351
579 670
Comprehensive result for the year to date
(2 242
)
(1 820
)
Accumulated deficit
(575 274
)
(569 613
)
Total equity for shareholders
20 835
8 237
Total liabilities and equity
Ps
105 697
Ps
123 799
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Consolidated consolidated money statements
(Unaudited, in thousands)
For the six months ended June 30,
2022
2021
Cash flows from activities:
Net loss
Ps
(5 661
)
Ps
(31 382
)
Adjustments to reconcile the net source of income (losses) with the net money used in operating activities:
Depreciation allocations
1 180
1 153
Provision for doubtful debts and product returns
700
2 439
Investment costs
916
—
Change in the fair of the liabilities by guarantee
(18 867
)
(2 523
)
Provision for depreciation of inventories
3 804
4 367
Insurance similar to operating activities
—
(1 993
)
Income taxes payable
—
(13 326
)
Stock-based compensation
2 299
2 349
Asset rebates and abandonments
1 935
4 382
Gain on acquisition contingency
(10 493
)
(2 287
)
Loss from disposal of discontinued operations
—
6 316
Advantageous acquisition gain
—
(90
)
Another
(3
)
(33
)
Change in and liabilities:
Accounts receivable
(2 082
)
(3 777
)
Inventories
(4 767
)
(9 111
)
Accounts payable
446
(3 818
)
increased expenditure
(7 025
)
23 605
Liabilities for right of use and lease
223
(3 165
)
Other assets and liabilities
4 986
(19 253
)
Net money used in operational activities
(32 409
)
(46 147
)
Cash for carrying out an investment activity:
OEM Working Capital Adjustment Payments
—
(5 430
)
Purchases of and equipment
(3 034
)
(4 952
)
Business acquisitions, of money acquired
—
(330
)
Costs of patents and intangible assets
(184
)
(311
)
Net money used in investment activities
(3 218
)
(11 023
)
Cash from financing activities:
Proceeds from the offering of shares, plus pre-funded warrants exercised, net
17 729
82 326
Revenue from renegotiating non-unusual inventory options
—
23
Employee Stock Purchase Program (ESPP) Product
186
—
Holo Milestones Payment – Conditional Consideration
(4 081
)
—
Payments for shares
(56
)
(133
)
Net money from funding activities
Ps
13 778
Ps
82 216
Effect of exchange rate adjustments on money and money equivalents
Ps
(94
)
Ps
249
(Decrease) net accumulation in money and money equivalents
Ps
(21 943
)
Ps
25 295
Cash and money equivalents, start of the period
Ps
51 287
Ps
43 962
Cash and money equivalents, end of period
Ps
29 344
Ps
69 257
Non-GAAP Financial Measures
To supplement our condensed consolidated monetary statements presented on a GAAP basis, we disclose non-GAAP net income applicable to non-unusual stocks and adjusted non-GAAP gross earnings of safe amounts. Net loss for non-unusual stocks and non-GAAP net gains for non-unusual stocks are based on our estimated annual GAAP tax rate, adjusted for pieces excluded from GAAP net loss for non-unusual stocks when calculating the net source of non-GAAP income applicable to non-unusual stocks. The reconciliations of each of those non-GAAP monetary measures with the applicable GAAP measures are included in the reconciliations below.
The following are explanations of the changes that control has excluded as a component of non-GAAP measures for the 3 to six months ended June 30, 2022 and 2021. Managing the amount of those costs, adding the tax effect on the changes, of our operating effects. to complete a comparison with our operational performance beyond.
Non-Effective Remuneration Based on Shares 2022 and 2021 – These prices correspond to the amortization of expenses for all percentage allocations made to workers and directors, adding limited percentage allocations, limited percentage units, inventory characteristics and inventory acquisition rights of workers.
Foreign Exchange Loss (Gain) 2022 and 2021 – These prices are similar to the procedure of revaluation of the foreign business in the functional currency of the Company.
2022 Change in the fair price of collateral liabilities – Another source of income similar to the revaluation of our collateral liabilities.
2022 and 2021 Acquisition Contingency Gain: Acquisition contingency gain relates to an adjustment to our estimate of legal liability for long-term milestone invoices in the acquisition of Holo Surgical.
Cancellation and abandonment of 2022 and 2021 assets: These prices are similar to the depreciation and abandonment of assets of certain long-term assets within the asset group.
2022 and 2021 transaction and integration fees: These fees are similar to the relevant professional fees with the financing and acquisition of Holo Surgical and Prompt Prototypes, as well as other matters.
2022 and 2021 Inventory Purchase Price Adjustment: These prices are similar to the effects on the acquired value of the acquired Paradigm shares that were sold for the 3 months ended March 31, 2022 and 2021.
2022 Removal from the list: These prices are similar to inventory cancellations for product rationalization.
2021 Purchase Profit: Similar gain to our acquisition of Prompt Prototypes, LLC.
2021 Layoff and Restructuring Costs: These profits and prices are similar to the relief of our organizational structure, basically due to the simplification of our Marquette, MI site.
Significant limitations associated with the use of non-GAAP financial measures
EBITDA, adjusted EBITDA and adjusted net profit attributable to non-unusual stocks should not be considered in isolation or as a replacement for GAAP measures.
Usefulness of Non-GAAP Financial Measures to Investors
The Company believes that the presentation of EBITDA, Adjusted EBITDA and Adjusted Net Income applicable to common stock, in addition to similar GAAP measures, provides investors with greater transparency regarding the data used through control in their monetary decision-making.
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Reconciliation of income with adjusted gross profit
(Unaudited, in thousands)
For the 3 months ended June 30,
2022
2021
Revenue
Ps
20 623
100,0
%
Ps
24 834
100,0
%
Processing and distribution costs
6 414
31. 1
%
7 229
29. 1
%
Gross profit, as reported
14 209
68,9
%
17 605
70,9
%
Inventory cancellation
535
2. 6
%
—
—
%
Adjustment of the acquisition value of inventories
414
2. 0
%
554
2. 2
%
Non-GAAP gross profit, adjusted
Ps
15 158
73,5
%
Ps
18 159
73. 1
%
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Reconciliation of income with adjusted gross profit
(Unaudited, in thousands)
For the six months ended June 30,
2022
2021
Revenue
Ps
41 228
100,0
%
Ps
48 125
100. 0
%
Processing and distribution costs
12 824
31. 1
%
13 467
28,0
%
Gross profit, as reported
28 404
68,9
%
34 658
72,0
%
Inventory cancellation
535
1. 3
%
—
—
%
Adjustment of the acquisition value of inventories
824
2. 0
%
1 081
2. 2
%
Non-GAAP gross profit, adjusted
Ps
29 763
72. 2
%
Ps
35 739
74,3
%
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Non-GAAP expenses, adjusted
(Unaudited, in thousands)
For the 3 months ended June 30,
For the six months ended June 30,
2022
2021
2022
2021
Operating Expenses
27 599
30 882
50 716
62 365
Remuneration for non-cash shares
925
1 413
2 299
2 349
Gain on acquisition contingency
(1 990
)
(2 236
)
(10 493
)
(2 287
)
Advantageous acquisition gain
—
(90
)
—
(90
)
Asset rebates and abandonments
996
2 206
1 935
4 382
Transaction and integration fees
222
2 188
1 138
2 510
Redundancy and restructuring costs
—
20
—
237
Adjusted expenses
Ps
27 446
Ps
27 381
Ps
55 837
Ps
55 264
Adjusted operating expenses based on revenue
133. 1
%
110. 3
%
135. 4
%
114,8
%
*Please note that this reconciliation comes with the HOLO portal’s capitalized prices of $0. 4 million and $0. 0 million for the 3 months ending June 30, 2022 and 2021, and $0. 4 million and $0. 0 million for the six months ending June 30, 2022 and 2021.
#Vea explanations in the above non-GAAP monetary measures.
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Reconciliation of net loss on non-unusual consistent percentages and diluted gains consistent with percentage consistent with adjusted net loss on non-unusual consistent percentages and adjusted net loss consistent with diluted consistent percentage
(Unaudited, in thousands consistent with participation)
For the 3 months completed
June 30, 2022
June 30, 2021
Net loss in non-unusual stocks
Amount consistent with diluted stake
Net loss in non-unusual stocks
Amount consistent with diluted stake
Net loss of operations carried out
Ps
(5 688
)
$
(0,86
)
Ps
(10 639
)
Ps
(2,79
)
Change in the fair of the liabilities by guarantee
(9 124
)
(1,37
)
(2 523
)
(0,66
)
Gain on acquisition contingency
(1 990
)
(0,30
)
(2 236
)
(0,59
)
Remuneration for non-cash shares
925
0,14
1 413
0,37
Foreign loss (gain)
1 056
0,16
(95
)
(0,02
)
Advantageous acquisition gain
—
0,00
(90
)
(0,02
)
Asset rebates and abandonments
996
0,15
2 206
0,58
Transaction and integration fees
222
0,03
2 188
0,57
Adjustment of the acquisition value of inventories
414
0,06
554
0,15
Inventory cancellation
535
0,08
—
0,00
Redundancy and restructuring costs
—
0,00
20
0,01
Adjustment tax
—
0,00
(28
)
(0,01
)
Non-GAAP loss of ongoing operations
Ps
(12 654
)
Ps
(1,91
)
Ps
(9 230
)
Ps
(2. 41
)
*Please note that this reconciliation comes with the HOLO portal capitalized prices of $0. 4 million and $0. 0 million for the 3 months ended June 30, 2022 and 2021.
#Vea explanations in the above non-GAAP monetary measures.
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Reconciliation of net loss on non-unusual consistent percentages and diluted gains consistent with percentage consistent with adjusted net loss on non-unusual consistent percentages and adjusted net loss consistent with diluted consistent percentage
(Unaudited, in thousands consistent with participation)
For the six months completed
June 30, 2022
June 30, 2021
Net loss in non-unusual stocks
Amount consistent with diluted stake
Net loss in non-unusual stocks
Amount consistent with diluted stake
Net loss of operations carried out
Ps
(5 661
)
Ps
(0,92
)
Ps
(25 829
)
Ps
(7. 29
)
Change in the fair of the liabilities by guarantee
(18 867
)
(3. 06
)
(2 523
)
(0,71
)
Gain on acquisition contingency
(10 493
)
(1,70
)
(2 287
)
(0,65
)
Remuneration for non-cash shares
2 299
0,37
2 349
0,66
Foreign loss
1 409
0. 23
450
0,13
Advantageous acquisition gain
—
0,00
(90
)
(0,03
)
Asset rebates and abandonments
1 935
0,31
4 382
1. 24
Transaction and integration fees
1 138
0,18
2 510
0,71
Adjustment of the acquisition value of inventories
824
0,13
1 081
0,31
Inventory cancellation
535
0,09
—
0,00
Redundancy and restructuring costs
—
0,00
237
0,07
Adjustment tax
—
0,00
(28
)
(0,01
)
Non-GAAP loss of ongoing operations
Ps
(26 881
)
Ps
(4. 37
)
Ps
(19,748
)
Ps
(5. 57
)
*Please note that this reconciliation includes the HOLO portal capitalized prices of $0. 4 million and $0. 0 million for the six months ended June 30, 2022 and 2021.
#Vea explanations in the above non-GAAP monetary measures.
SURGALIGN HOLDINGS, INC. AND SUBSIDIARIES
Reconciliation of Net Loss in Ordinary Shares with Adjusted EBITDA
(Unaudited, in thousands)
For the 3 months ended June 30,
For the six months ended June 30,
2022
2021
2022
2021
Net loss of operations carried out
Ps
(5 688
)
Ps
(10 639
)
Ps
(5 661
)
Ps
(25,829
)
Interest expense, net
252
—
504
—
Provision for the source of income taxes
92
81
65°
300
Depreciation
566
633
1 075
1 153
EBITDA
(4 778
)
(9 925
)
(3 828
)
(24 376
)
Remuneration for non-cash shares
925
1 413
2 299
2 349
Foreign loss
1 056
(95
)
1 409
450
Adjustment of the acquisition value of inventories
414
554
824
1 081
Change in the fair of the liabilities by guarantee
(9 124
)
(2 523
)
(18 867
)
(2 523
)
Gain on acquisition contingency
(1 990
)
(2 236
)
(10 493
)
(2 287
)
Advantageous acquisition gain
—
(90
)
—
(90
)
Asset rebates and abandonments
996
2 206
1 935
4 382
Transaction and integration fees
222
2 188
1 138
2 510
Inventory cancellation
535
—
535
—
Redundancy and restructuring costs
—
20
—
237
Adjusted EBITDA
Ps
(11 744
)
Ps
(8 488
)
Ps
(25 048
)
Ps
(18 267
)
Adjusted EBITDA as a result of revenue
(56,9
) %
(34,2
) %
(60,8
) %
(38,0
) %
*Please note that this reconciliation comes with the HOLO portal’s capitalized prices of $0. 4 million and $0. 0 million for the 3 months ending June 30, 2022 and 2021, and $0. 4 million and $0. 0 million for the six months ending June 30, 2022 and 2021.
#Vea explanations in the above non-GAAP monetary measures.