Fathom Digital Manufacturing Reports Third Quarter 2022

Fathom Digital Manufacturing Reports Third Quarter 2022 Financial Results

¹Represents expenses incurred related to business acquisitions; ²Represents the impacts from the change in fair value related to both the earnout shares liability, the warrant liability and the tax receivable agreement associated with the business combination completed on December 23, 2021;³Represents adjustments for other integration, non-recurring, non-operating, cash, and non-cash costs related primarily to integration costs for new acquisitions, severance, and management fees paid to our principal owner.

Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA

($ in thousands)	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Net loss	$	(1,046,107)	$	(3,476)	$	(994,295)	$	(8,058)
Depreciation and amortization		6,335		4,381		18,539		12,006
Interest expense, net		2,406		4,376		5,738		8,800
Income tax expense		88		729		167		807
Acquisition expenses ⁽¹⁾		-		-		-		4,045
Inventory step-up amortization		-		(277)		3,241		-
Stock compensation		1,762		-		5,687		-
Goodwill impairment		1,066,564		-		1,066,564		-
Restructuring		996		-		996		-
Change in fair value of warrant liability ⁽²⁾		(7,400)		-		(28,000)		-
Change in fair value of earnout shares liability ⁽²⁾		(18,080)		-		(59,980)		-
Change in fair value of tax receivable agreement ⁽²⁾		-		-		(200)		-
Contingent consideration ⁽³⁾		-		235		-		(1,120)
Loss on extinguishment of debt ⁽⁴⁾		-		-		-		2,031
Integration, non-recurring, non-operating, cash, and non-cash costs ⁽⁵⁾		492		2,679		3,443		5,309
Adjusted EBITDA	$	7,056	$	8,647	$	21,900	$	23,820

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