Reconciliation of GAAP net loss attributable to ordinary shares to Non-GAAP net loss attributable to ordinary shares and Non-GAAP basic and diluted loss per share (U.S. dollars in thousands)

 
 
                      Nine Months       Three Months 
                         Ended             Ended 
                     September 30,     September 30, 
                    ----------------   -------------- 
                     2024     2023      2024    2023 
                    -------  -------   ------  ------ 
GAAP net loss 
 attributable to 
 ordinary shares     39,455   50,528   13,639  21,403 
   Non-GAAP 
   adjustments: 
   Less (Add): 
    Class-action 
    litigation and 
    SEC 
    investigation        76    4,203        -    (214) 
   Less: 
    Amortization of 
    intangible 
    assets            7,959    7,959    2,653   2,653 
   Less: Impairment 
    of goodwill           -    7,420            7,420 
   Less: Offering 
    expenses            420        -        -       - 
   Less (Add): 
    Change in the 
    fair value of 
    earn out 
    liabilities' 
    obligation            -   (4,506)       -      17 
   Less: accrual in 
    connection with 
    the estimated 
    settlement of 
    the SEC 
    investigation         -      650        -       - 
   Less: 
    Share-based 
    compensation      5,845    4,981    2,267   2,118 
                     ------  -------   ------  ------ 
Non-GAAP net loss 
 attributable to 
 ordinary shares     25,155   29,821    8,719   9,409 
                     ======  =======   ======  ====== 
BASIC AND DILUTED 
 LOSS PER SHARE        0.43     0.53     0.15    0.16 
                     ======  =======   ======  ====== 
WEIGHTED AVERAGE 
 NUMBER OF ORDINARY 
 SHARES (in 
 thousands)          58,182   55,900   58,624  57,148 
                     ======  =======   ======  ====== 
 
 

Reconciliation of GAAP cost of revenue to Non-GAAP cost of revenue (U.S. dollars in thousands)

 
 
GAAP cost of revenue      16,002  12,384  5,843  4,141 
   Non-GAAP 
   adjustments: 
     Amortization of 
      intangible assets    7,668   7,668  2,556  2,556 
     Share-based 
      compensation           173      41     61     13 
                          ------  ------  -----  ----- 
Non-GAAP cost of revenue   8,161   4,675  3,226  1,572 
                          ======  ======  =====  ===== 
 
 

Reconciliation of GAAP gross loss to Non-GAAP gross profit (U.S. dollars in thousands)

 
 
GAAP gross loss       (7,719)  (4,876)  (2,812)  (1,662) 
   Non-GAAP 
   adjustments: 
     Amortization of 
      intangible 
      assets           7,668    7,668    2,556    2,556 
     Share-based 
      compensation       173       41       61       13 
                      ------   ------   ------   ------ 
Non-GAAP gross 
 profit (loss)           122    2,833     (195)     907 
                      ======   ======   ======   ====== 
 
 

Reconciliation of GAAP gross loss margin to Non-GAAP gross profit margin (in percentage of revenue)

 
 
GAAP gross loss margin      (93)%    (65)%    (93)%    (67)% 
   Non-GAAP adjustments: 
     Amortization of 
      intangible assets      92%     102%      85%     103% 
     Share-based 
      compensation            2%       1%       2%       1% 
                            ---      ---      ---      --- 
Non-GAAP gross profit 
 (loss) margin                1%      38%      (6)%     37% 
                            ===      ===      ===      === 
 
 

Reconciliation of GAAP research and development, expenses to Non-GAAP research and development expenses, net (U.S. dollars in thousands)

 
 
GAAP research and 
 development expenses, 
 net                      14,781  19,237  4,749  6,038 
   Non-GAAP 
   adjustments: 
     Share-based 
      compensation         2,039   2,893    723  1,158 
                          ------  ------  -----  ----- 
Non-GAAP research and 
 development expenses, 
 net                      12,742  16,344  4,026  4,880 
                          ======  ======  =====  ===== 
 
 

Reconciliation of GAAP sales and marketing expenses to Non-GAAP sales and marketing expenses (U.S. dollars in thousands)

 
 
GAAP sales and marketing 
 expenses                     2,521  3,134  887  1,146 
Non-GAAP adjustments: 
Amortization of intangible 
 assets                         291    291   97     97 
Share-based compensation        572    334  222    149 
                              -----  -----  ---  ----- 
 
Non-GAAP sales and marketing 
 expenses                     1,658  2,509  568    900 
                              =====  =====  ===  ===== 
 
 

Reconciliation of GAAP general and administrative expenses to Non-GAAP general and administrative expenses (U.S. dollars in thousands)

 
 
GAAP general and 
 administrative 
 expenses                16,669  20,481  5,711  5,047 
Non-GAAP adjustments: 
Class-action litigation 
 and SEC investigation       76   4,203      -   (214) 
Offering expenses           420       -      -      - 
Share-based 
 compensation             3,061   1,713  1,261    798 
                         ------  ------  -----  ----- 
 
Non-GAAP general and 
 administrative 
 expenses                13,112  14,565  4,450  4,463 
                         ======  ======  =====  ===== 
 
 

Reconciliation of GAAP other expenses to Non-GAAP other expenses (income) (U.S. dollars in thousands)

 
 
GAAP other expenses (income)      81  1,260  (20)  663 
Non-GAAP adjustments: 
Accrual in connection with the 
 estimated settlement of the SEC 
 investigation                     -    650    -     - 
                                      -----  ---   --- 
 
Non-GAAP other expenses (income)  81    610  (20)  663 
                                      =====  ===   === 
 
 
Investor Contact: 
Mike Cavanaugh 
ICR Healthcare 
mike.cavanaugh@westwicke.com 

(END) Dow Jones Newswires

November 21, 2024 08:00 ET (13:00 GMT)