NV5 Announces Fourth Quarter and Full Year 2023 Results; Issues Full Year 2024 Guidance
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NV5 GLOBAL, INC. AND SUBSIDIARIES
| | RECONCILIATION OF GAAP FINANCIAL MEASURES | | TO COMPARABLE NON-GAAP FINANCIAL MEASURES | | (UNAUDITED) | | (in thousands, except share data) | | |
RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA
| | | | | |
Three Months Ended | |
Twelve Months Ended | | | |
December 30, 2023 | |
December 31, 2022 | |
December 30, 2023 | |
December 31, 2022 | |
Net Income |
$ |
9,935 | | |
$ |
8,000 | | |
$ |
44,613 | | |
$ |
49,973 | | | Add: | Interest expense | | 3,859 | | | | 1,005 | | | | 12,970 | | | | 3,808 | | | | Income tax expense | | 2,888 | | | | 3,702 | | | | 3,597 | | | | 12,401 | | | | Depreciation and amortization | | 15,522 | | | | 10,972 | | | | 58,020 | | | | 44,063 | | | | Stock-based compensation | | 5,875 | | | | 4,077 | | | | 22,379 | | | | 19,326 | | | | Acquisition-related costs* | | (731 | ) | | | 4,720 | | | | (3,706 | ) | | | 5,612 | | |
Adjusted EBITDA |
$ |
37,348 | | |
$ |
32,476 | | |
$ |
137,873 | | |
$ |
135,183 | |
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