(2) The three months ended September 30, 2022, includes $6.8 million currency losses on acquisition-related intercompany loans and a $2.2 million gain from a mark-to-market adjustment of contingent consideration associated with the World Programming acquisition. The nine months ended September 30, 2022, includes $16.6 million expense on the repurchase of convertible senior notes, $13.7 million currency losses on acquisition-related intercompany loans and a $7.5 million gain from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition.
(3) The Non-GAAP diluted shares outstanding for the three and nine months ended September 30, 2021, has been changed to align with the current definition.
The following table provides a reconciliation of Adjusted EBITDA to net loss, the most comparable GAAP financial measure:
| (Unaudited) | ||||||||||||||||
|
Three Months Ended
September 30, |
Nine Months Ended
September 30, | |||||||||||||||
| (in thousands) | 2022 | 2021 | 2022 | 2021 | ||||||||||||
| Net loss | $ | (33,248 | ) | $ | (8,109 | ) | $ | (55,494 | ) | $ | (7,397 | ) | ||||
| Income tax expense | 4,579 | 3,022 | 15,008 | 4,424 | ||||||||||||
| Stock-based compensation expense | 22,710 | 10,933 | 62,524 | 31,229 | ||||||||||||
| Interest expense | 1,566 | 3,037 | 2,851 | 8,998 | ||||||||||||
| Depreciation and amortization | 8,273 | 6,175 | 24,092 | 19,355 | ||||||||||||
| Restructuring expense | — | (124 | ) | — | 4,954 | |||||||||||
| Special adjustments, interest income and other (1) | 2,949 | (102 | ) | 20,878 | (275 | ) | ||||||||||
| Adjusted EBITDA | $ | 6,829 | $ | 14,832 | $ | 69,859 | $ | 61,288 | ||||||||
