Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Oblong Announces Financial Results for Fourth Quarter and Full Year 2021 By: Oblong, Inc. via Business Wire March 29, 2022 at 16:10 PM EDT Revenue related to our Mezzanine™ products increased 24% sequentially from Q3 to Q4 2021 driven by a significant order from a global Aerospace and Defense Company Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today reported financial results for the fourth quarter and full year ending December 31, 2021. The Company’s total revenue increased 10% sequentially to $2.0 million for the fourth quarter of 2021 versus $1.8 million for the third quarter of 2021. Revenue related to our Mezzanine™ collaboration suite of products increased 24% sequentially to $1.0 million for the fourth quarter of 2021 versus $0.8 million for the third quarter of 2021. As of December 31, 2021, the Company had $9.0 million of cash and no debt. “While the global pandemic has had a material effect on demand for our products over the last two years, it appears many of our longtime customers are now gradually re-opening their office environments and, in parallel, re-engaging in commercial discussions to upgrade their collaboration spaces. While Q4 revenue was driven largely by a full suite sale to one of our global clients, we believe their scale of deployment, and use case in combination with AR/VR systems, will become increasingly relevant in the future. Although the ongoing global effects of COVID-19 remain uncertain, workplaces are opening and being re-designed with next generation collaboration technologies and hybrid work at the forefront. It’s been a challenging few years but, we believe there is now a light at the end of this long tunnel as we all adapt to a new way of working,” commented Pete Holst, President and CEO of Oblong. Net loss of $2.7 million for the fourth quarter of 2021, compared to net income of $1.2 million for the fourth quarter of 2020. During the fourth quarter of 2020, the Company recorded a non-cash gain on extinguishment of debt of $3.1 million. Adjusted EBITDA (“AEBITDA”) loss of $2.1 million for the fourth quarter of 2021, compared to an AEBITDA loss of $0.4 million for the fourth quarter of 2020. AEBITDA loss is a non-GAAP financial measure. See “Non-GAAP Financial Information” below for additional information regarding this non-GAAP financial measure, and “GAAP to Non-GAAP Reconciliation” for a reconciliation of this non-GAAP financial measure to net income (loss). The Company’s total revenue was $2.0 million for the fourth quarter of 2021 versus $3.9 million for the fourth quarter of 2020. Non-GAAP Financial Information Adjusted EBITDA (“AEBITDA”) loss, a non-GAAP financial measure, is defined as net income (loss) before depreciation and amortization, stock-based compensation and expense, impairment charges, gain on extinguishment of debt, severance, income tax expense, and interest and other (income) expense, net. AEBITDA loss is not intended to replace operating loss, net income (loss), cash flow or other measures of financial performance reported in accordance with generally accepted accounting principles (GAAP). Rather, AEBITDA loss is an important measure used by management to assess the operating performance of the Company and to compare such performance between periods. AEBITDA loss as defined here may not be comparable to similarly titled measures reported by other companies due to differences in accounting policies. Therefore, AEBITDA loss should be considered in conjunction with net income (loss) and other performance measures prepared in accordance with GAAP, such as operating loss or cash flow used in operating activities, and should not be considered in isolation or as a substitute for GAAP measures, such as net income (loss), operating loss or any other GAAP measure of liquidity or financial performance. A GAAP to non-GAAP reconciliation of net income (loss) to AEBITDA loss is shown under “GAAP to Non-GAAP Reconciliation” later in this release. About Oblong, Inc. Oblong (Nasdaq:OBLG) provides innovative and patented technologies that change the way people work, create, and communicate. Oblong’s flagship product Mezzanine™ is a remote meeting technology platform that offers simultaneous content sharing to achieve situational awareness for both in-room and remote collaborators. Oblong supplies Mezzanine systems to Fortune 500 enterprise customers and is a Cisco Solutions Plus integration partner. For more information, visit Oblong’s website, Twitter and Facebook pages. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. Oblong’s actual results may differ materially from its expectations, estimates and projections, and consequently you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to (i) the Company’s potential future growth and financial performance, (ii) the success of its products and services, (iii) relationships with distribution partners and customers, and (iv) the redesign of office environments. The forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties, including the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company’s Annual Report on Form 10-K for the year ending December 31, 2021 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong’s actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein. OBLONG, INC. CONDENSED CONSOLIDATED BALANCE SHEETS ($ in thousands) December 31, 2021 December 31, 2020 ASSETS Current assets: Cash $ 8,939 $ 5,058 Current portion of restricted cash 61 158 Accounts receivable, net 849 3,166 Inventory 1,821 920 Prepaid expenses and other current assets 1,081 691 Total current assets 12,751 9,993 Property and equipment, net 159 573 Goodwill 7,367 7,367 Intangibles, net 7,562 10,140 Operating lease - right of use asset, net 659 903 Other assets 109 167 Total assets $ 28,607 $ 29,143 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt, net of discount $ — $ 2,014 Accounts payable 259 313 Current portion deferred revenue 783 1,217 Accrued expenses and other liabilities 959 1,201 Current portion of operating lease liabilities 492 830 Total current liabilities 2,493 5,575 Long-term liabilities: Long-term debt, net of current portion and net of discount — 403 Operating lease liabilities, net of current portion 236 602 Deferred revenue, net of current portion 381 506 Total long-term liabilities 617 1,511 Total liabilities 3,110 7,086 Total stockholders’ equity 25,497 22,057 Total liabilities and stockholders’ equity $ 28,607 $ 29,143 OBLONG, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in thousands) Three Months Ended Year Ended December 31, December 31, 2021 2020 2021 2020 Revenue $ 1,973 $ 3,923 $ 7,739 $ 15,333 Cost of revenue (exclusive of depreciation and amortization) 1,254 1,611 5,021 7,280 Gross profit 719 2,312 2,718 8,053 Operating expenses: Research and development 929 649 2,913 3,711 Sales and marketing 658 670 2,195 3,392 General and administrative 1,285 1,549 6,363 6,724 Impairment charges 3 492 305 1,150 Depreciation and amortization 638 749 2,736 3,140 Total operating expenses 3,513 4,109 14,512 18,117 Loss from operations (2,794 ) (1,797 ) (11,794 ) (10,064 ) Interest and other expense (income), net 6 39 (205 ) 371 Gain on extinguishment of debt — (3,117 ) (2,448 ) (3,117 ) Net income (loss) before taxes (2,800 ) 1,281 (9,141 ) (7,318 ) Income tax (benefit) expense (90 ) 103 (90 ) 103 Net income (loss) (2,710 ) 1,178 (9,051 ) (7,421 ) GAAP to Non-GAAP Reconciliation: Net income (loss) $ (2,710 ) $ 1,178 $ (9,051 ) $ (7,421 ) Depreciation and amortization 638 749 2,736 3,140 Interest and other expense (income), net 6 39 (205 ) 371 Income tax (benefit) expense (90 ) 103 (90 ) 103 Impairment charges 3 492 305 1,150 Gain on extinguishment of debt — (3,117 ) (2,448 ) (3,117 ) Severance — — 67 536 Stock-based compensation and expense 62 109 987 198 Adjusted EBITDA Loss $ (2,091 ) $ (447 ) $ (7,699 ) $ (5,040 ) View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005866/en/Contacts Investor Relations Contact David Clark investors@oblong.com (213) 683-8863 ext 2205 Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. 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Oblong Announces Financial Results for Fourth Quarter and Full Year 2021 By: Oblong, Inc. via Business Wire March 29, 2022 at 16:10 PM EDT Revenue related to our Mezzanine™ products increased 24% sequentially from Q3 to Q4 2021 driven by a significant order from a global Aerospace and Defense Company Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today reported financial results for the fourth quarter and full year ending December 31, 2021. The Company’s total revenue increased 10% sequentially to $2.0 million for the fourth quarter of 2021 versus $1.8 million for the third quarter of 2021. Revenue related to our Mezzanine™ collaboration suite of products increased 24% sequentially to $1.0 million for the fourth quarter of 2021 versus $0.8 million for the third quarter of 2021. As of December 31, 2021, the Company had $9.0 million of cash and no debt. “While the global pandemic has had a material effect on demand for our products over the last two years, it appears many of our longtime customers are now gradually re-opening their office environments and, in parallel, re-engaging in commercial discussions to upgrade their collaboration spaces. While Q4 revenue was driven largely by a full suite sale to one of our global clients, we believe their scale of deployment, and use case in combination with AR/VR systems, will become increasingly relevant in the future. Although the ongoing global effects of COVID-19 remain uncertain, workplaces are opening and being re-designed with next generation collaboration technologies and hybrid work at the forefront. It’s been a challenging few years but, we believe there is now a light at the end of this long tunnel as we all adapt to a new way of working,” commented Pete Holst, President and CEO of Oblong. Net loss of $2.7 million for the fourth quarter of 2021, compared to net income of $1.2 million for the fourth quarter of 2020. During the fourth quarter of 2020, the Company recorded a non-cash gain on extinguishment of debt of $3.1 million. Adjusted EBITDA (“AEBITDA”) loss of $2.1 million for the fourth quarter of 2021, compared to an AEBITDA loss of $0.4 million for the fourth quarter of 2020. AEBITDA loss is a non-GAAP financial measure. See “Non-GAAP Financial Information” below for additional information regarding this non-GAAP financial measure, and “GAAP to Non-GAAP Reconciliation” for a reconciliation of this non-GAAP financial measure to net income (loss). The Company’s total revenue was $2.0 million for the fourth quarter of 2021 versus $3.9 million for the fourth quarter of 2020. Non-GAAP Financial Information Adjusted EBITDA (“AEBITDA”) loss, a non-GAAP financial measure, is defined as net income (loss) before depreciation and amortization, stock-based compensation and expense, impairment charges, gain on extinguishment of debt, severance, income tax expense, and interest and other (income) expense, net. AEBITDA loss is not intended to replace operating loss, net income (loss), cash flow or other measures of financial performance reported in accordance with generally accepted accounting principles (GAAP). Rather, AEBITDA loss is an important measure used by management to assess the operating performance of the Company and to compare such performance between periods. AEBITDA loss as defined here may not be comparable to similarly titled measures reported by other companies due to differences in accounting policies. Therefore, AEBITDA loss should be considered in conjunction with net income (loss) and other performance measures prepared in accordance with GAAP, such as operating loss or cash flow used in operating activities, and should not be considered in isolation or as a substitute for GAAP measures, such as net income (loss), operating loss or any other GAAP measure of liquidity or financial performance. A GAAP to non-GAAP reconciliation of net income (loss) to AEBITDA loss is shown under “GAAP to Non-GAAP Reconciliation” later in this release. About Oblong, Inc. Oblong (Nasdaq:OBLG) provides innovative and patented technologies that change the way people work, create, and communicate. Oblong’s flagship product Mezzanine™ is a remote meeting technology platform that offers simultaneous content sharing to achieve situational awareness for both in-room and remote collaborators. Oblong supplies Mezzanine systems to Fortune 500 enterprise customers and is a Cisco Solutions Plus integration partner. For more information, visit Oblong’s website, Twitter and Facebook pages. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. Oblong’s actual results may differ materially from its expectations, estimates and projections, and consequently you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to (i) the Company’s potential future growth and financial performance, (ii) the success of its products and services, (iii) relationships with distribution partners and customers, and (iv) the redesign of office environments. The forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties, including the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company’s Annual Report on Form 10-K for the year ending December 31, 2021 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong’s actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein. OBLONG, INC. CONDENSED CONSOLIDATED BALANCE SHEETS ($ in thousands) December 31, 2021 December 31, 2020 ASSETS Current assets: Cash $ 8,939 $ 5,058 Current portion of restricted cash 61 158 Accounts receivable, net 849 3,166 Inventory 1,821 920 Prepaid expenses and other current assets 1,081 691 Total current assets 12,751 9,993 Property and equipment, net 159 573 Goodwill 7,367 7,367 Intangibles, net 7,562 10,140 Operating lease - right of use asset, net 659 903 Other assets 109 167 Total assets $ 28,607 $ 29,143 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt, net of discount $ — $ 2,014 Accounts payable 259 313 Current portion deferred revenue 783 1,217 Accrued expenses and other liabilities 959 1,201 Current portion of operating lease liabilities 492 830 Total current liabilities 2,493 5,575 Long-term liabilities: Long-term debt, net of current portion and net of discount — 403 Operating lease liabilities, net of current portion 236 602 Deferred revenue, net of current portion 381 506 Total long-term liabilities 617 1,511 Total liabilities 3,110 7,086 Total stockholders’ equity 25,497 22,057 Total liabilities and stockholders’ equity $ 28,607 $ 29,143 OBLONG, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in thousands) Three Months Ended Year Ended December 31, December 31, 2021 2020 2021 2020 Revenue $ 1,973 $ 3,923 $ 7,739 $ 15,333 Cost of revenue (exclusive of depreciation and amortization) 1,254 1,611 5,021 7,280 Gross profit 719 2,312 2,718 8,053 Operating expenses: Research and development 929 649 2,913 3,711 Sales and marketing 658 670 2,195 3,392 General and administrative 1,285 1,549 6,363 6,724 Impairment charges 3 492 305 1,150 Depreciation and amortization 638 749 2,736 3,140 Total operating expenses 3,513 4,109 14,512 18,117 Loss from operations (2,794 ) (1,797 ) (11,794 ) (10,064 ) Interest and other expense (income), net 6 39 (205 ) 371 Gain on extinguishment of debt — (3,117 ) (2,448 ) (3,117 ) Net income (loss) before taxes (2,800 ) 1,281 (9,141 ) (7,318 ) Income tax (benefit) expense (90 ) 103 (90 ) 103 Net income (loss) (2,710 ) 1,178 (9,051 ) (7,421 ) GAAP to Non-GAAP Reconciliation: Net income (loss) $ (2,710 ) $ 1,178 $ (9,051 ) $ (7,421 ) Depreciation and amortization 638 749 2,736 3,140 Interest and other expense (income), net 6 39 (205 ) 371 Income tax (benefit) expense (90 ) 103 (90 ) 103 Impairment charges 3 492 305 1,150 Gain on extinguishment of debt — (3,117 ) (2,448 ) (3,117 ) Severance — — 67 536 Stock-based compensation and expense 62 109 987 198 Adjusted EBITDA Loss $ (2,091 ) $ (447 ) $ (7,699 ) $ (5,040 ) View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005866/en/Contacts Investor Relations Contact David Clark investors@oblong.com (213) 683-8863 ext 2205
Revenue related to our Mezzanine™ products increased 24% sequentially from Q3 to Q4 2021 driven by a significant order from a global Aerospace and Defense Company
Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today reported financial results for the fourth quarter and full year ending December 31, 2021. The Company’s total revenue increased 10% sequentially to $2.0 million for the fourth quarter of 2021 versus $1.8 million for the third quarter of 2021. Revenue related to our Mezzanine™ collaboration suite of products increased 24% sequentially to $1.0 million for the fourth quarter of 2021 versus $0.8 million for the third quarter of 2021. As of December 31, 2021, the Company had $9.0 million of cash and no debt. “While the global pandemic has had a material effect on demand for our products over the last two years, it appears many of our longtime customers are now gradually re-opening their office environments and, in parallel, re-engaging in commercial discussions to upgrade their collaboration spaces. While Q4 revenue was driven largely by a full suite sale to one of our global clients, we believe their scale of deployment, and use case in combination with AR/VR systems, will become increasingly relevant in the future. Although the ongoing global effects of COVID-19 remain uncertain, workplaces are opening and being re-designed with next generation collaboration technologies and hybrid work at the forefront. It’s been a challenging few years but, we believe there is now a light at the end of this long tunnel as we all adapt to a new way of working,” commented Pete Holst, President and CEO of Oblong. Net loss of $2.7 million for the fourth quarter of 2021, compared to net income of $1.2 million for the fourth quarter of 2020. During the fourth quarter of 2020, the Company recorded a non-cash gain on extinguishment of debt of $3.1 million. Adjusted EBITDA (“AEBITDA”) loss of $2.1 million for the fourth quarter of 2021, compared to an AEBITDA loss of $0.4 million for the fourth quarter of 2020. AEBITDA loss is a non-GAAP financial measure. See “Non-GAAP Financial Information” below for additional information regarding this non-GAAP financial measure, and “GAAP to Non-GAAP Reconciliation” for a reconciliation of this non-GAAP financial measure to net income (loss). The Company’s total revenue was $2.0 million for the fourth quarter of 2021 versus $3.9 million for the fourth quarter of 2020. Non-GAAP Financial Information Adjusted EBITDA (“AEBITDA”) loss, a non-GAAP financial measure, is defined as net income (loss) before depreciation and amortization, stock-based compensation and expense, impairment charges, gain on extinguishment of debt, severance, income tax expense, and interest and other (income) expense, net. AEBITDA loss is not intended to replace operating loss, net income (loss), cash flow or other measures of financial performance reported in accordance with generally accepted accounting principles (GAAP). Rather, AEBITDA loss is an important measure used by management to assess the operating performance of the Company and to compare such performance between periods. AEBITDA loss as defined here may not be comparable to similarly titled measures reported by other companies due to differences in accounting policies. Therefore, AEBITDA loss should be considered in conjunction with net income (loss) and other performance measures prepared in accordance with GAAP, such as operating loss or cash flow used in operating activities, and should not be considered in isolation or as a substitute for GAAP measures, such as net income (loss), operating loss or any other GAAP measure of liquidity or financial performance. A GAAP to non-GAAP reconciliation of net income (loss) to AEBITDA loss is shown under “GAAP to Non-GAAP Reconciliation” later in this release. About Oblong, Inc. Oblong (Nasdaq:OBLG) provides innovative and patented technologies that change the way people work, create, and communicate. Oblong’s flagship product Mezzanine™ is a remote meeting technology platform that offers simultaneous content sharing to achieve situational awareness for both in-room and remote collaborators. Oblong supplies Mezzanine systems to Fortune 500 enterprise customers and is a Cisco Solutions Plus integration partner. For more information, visit Oblong’s website, Twitter and Facebook pages. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. Oblong’s actual results may differ materially from its expectations, estimates and projections, and consequently you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to (i) the Company’s potential future growth and financial performance, (ii) the success of its products and services, (iii) relationships with distribution partners and customers, and (iv) the redesign of office environments. The forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties, including the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company’s Annual Report on Form 10-K for the year ending December 31, 2021 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong’s actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein. OBLONG, INC. CONDENSED CONSOLIDATED BALANCE SHEETS ($ in thousands) December 31, 2021 December 31, 2020 ASSETS Current assets: Cash $ 8,939 $ 5,058 Current portion of restricted cash 61 158 Accounts receivable, net 849 3,166 Inventory 1,821 920 Prepaid expenses and other current assets 1,081 691 Total current assets 12,751 9,993 Property and equipment, net 159 573 Goodwill 7,367 7,367 Intangibles, net 7,562 10,140 Operating lease - right of use asset, net 659 903 Other assets 109 167 Total assets $ 28,607 $ 29,143 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt, net of discount $ — $ 2,014 Accounts payable 259 313 Current portion deferred revenue 783 1,217 Accrued expenses and other liabilities 959 1,201 Current portion of operating lease liabilities 492 830 Total current liabilities 2,493 5,575 Long-term liabilities: Long-term debt, net of current portion and net of discount — 403 Operating lease liabilities, net of current portion 236 602 Deferred revenue, net of current portion 381 506 Total long-term liabilities 617 1,511 Total liabilities 3,110 7,086 Total stockholders’ equity 25,497 22,057 Total liabilities and stockholders’ equity $ 28,607 $ 29,143 OBLONG, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in thousands) Three Months Ended Year Ended December 31, December 31, 2021 2020 2021 2020 Revenue $ 1,973 $ 3,923 $ 7,739 $ 15,333 Cost of revenue (exclusive of depreciation and amortization) 1,254 1,611 5,021 7,280 Gross profit 719 2,312 2,718 8,053 Operating expenses: Research and development 929 649 2,913 3,711 Sales and marketing 658 670 2,195 3,392 General and administrative 1,285 1,549 6,363 6,724 Impairment charges 3 492 305 1,150 Depreciation and amortization 638 749 2,736 3,140 Total operating expenses 3,513 4,109 14,512 18,117 Loss from operations (2,794 ) (1,797 ) (11,794 ) (10,064 ) Interest and other expense (income), net 6 39 (205 ) 371 Gain on extinguishment of debt — (3,117 ) (2,448 ) (3,117 ) Net income (loss) before taxes (2,800 ) 1,281 (9,141 ) (7,318 ) Income tax (benefit) expense (90 ) 103 (90 ) 103 Net income (loss) (2,710 ) 1,178 (9,051 ) (7,421 ) GAAP to Non-GAAP Reconciliation: Net income (loss) $ (2,710 ) $ 1,178 $ (9,051 ) $ (7,421 ) Depreciation and amortization 638 749 2,736 3,140 Interest and other expense (income), net 6 39 (205 ) 371 Income tax (benefit) expense (90 ) 103 (90 ) 103 Impairment charges 3 492 305 1,150 Gain on extinguishment of debt — (3,117 ) (2,448 ) (3,117 ) Severance — — 67 536 Stock-based compensation and expense 62 109 987 198 Adjusted EBITDA Loss $ (2,091 ) $ (447 ) $ (7,699 ) $ (5,040 ) View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005866/en/
