--------- --------- ---------- ----------
(a) Acquisition of an initially
consolidated subsidiary:
Working capital (excluding cash
and cash equivalents) $ (1,271) $ - $ (1,271) $ -
Property and equipment 51 - 51 -
Right-of-use assets 350 - 350 -
Intangible assets 3,538 - 3,538 -
Goodwill 2,546 - 2,546 -
Shares issued (885) - (885) -
Payable for acquisition of
subsidiary (629) - (629) -
Lease liabilities (350) - (350) -
--------- --------- ---------- ----------
Acquisition of a subsidiary, net
of cash acquired $ 3,350 $ - $ 3,350 $ -
--------- --------- ---------- ----------
(b) Significant non-cash
transactions:
Right-of-use asset recognized
with corresponding lease
liability $ - $ 78 $ - $ 239
--------- --------- ---------- ----------
Issuance of shares for previous
acquisition of a subsidiary $ - $ - $ - $ 113
--------- --------- ---------- ----------
RECONCILIATION OF IFRS TO NON-IFRS GROSS PROFIT AND GROSS MARGIN
(in thousands, except gross margin data)
Three Months Ended Nine Months Ended
September 30, September 30,
2024 2023 2024 2023
--------- --------- ---------- -------
(unaudited) (unaudited)
IFRS gross profit $ 4,023 $ 2,802 $ 11,047 $ 8,530
Add:
Share-based compensation 123 432 313 591
Depreciation and amortization 349 315 972 871
--------- --------- ---------- -------
Non-IFRS gross profit $ 4,495 $ 3,549 $ 12,332 $ 9,992
--------- --------- ---------- -------
IFRS gross margin 65.0 % 54.9 % 64.2 % 56.8 %
--------- --------- ---------- -------
Non-IFRS gross margin 72.7 % 69.5 % 71.7 % 66.5 %
--------- --------- ---------- -------
RECONCILIATION OF IFRS OPERATING LOSS TO ADJUSTED EBITDA
(in thousands)
Three Months Ended Nine Months Ended
September 30, September 30,
2024 2023 2024 2023
--------- --------- ---------- ----------
(unaudited) (unaudited)
Operating loss $ (4,862) $ (9,292) $ (14,910) $ (73,158)
Add:
Share-based compensation 982 3,375 2,576 4,503
Depreciation and amortization 803 719 2,213 2,081
Share listing expense - - - 46,717
Non-recurring expenses - - - 499
Transaction-related costs - - - 3,703
Changes in the fair value of
contingent consideration - - - (642)
Acquisition-related costs 283 - 283 -
Reorganization - 884 - 884
Operating expense settled by
issuance of shares - 184 351 184
--------- --------- ---------- ----------
Adjusted EBITDA $ (2,794) $ (4,130) $ (9,487) $ (15,229)
--------- --------- ---------- ----------
Adjusted EBITDA margins -45 % -81 % -55 % -101 %
RECONCILIATION OF IFRS LOSS TO NON-IFRS LOSS AND LOSS PER SHARE
(in thousands, except share and per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
2024 2023 2024 2023
---------- ---------- ---------- ----------
(unaudited) (unaudited)
IFRS loss attributable to
ordinary shareholders $ (2,724) $ (7,160) $ (12,654) $ (62,158)
Add:
Share-based compensation 982 3,375 2,576 4,503
Depreciation and amortization 803 719 2,213 2,081
Share listing expense - - - 46,717
Non-recurring expenses - - - 499
Transaction-related costs - - - 3,703
Changes in the fair value of
contingent consideration - 109 (6) (794)
Acquisition-related costs 283 - 283 -
Reorganization - 884 - 884
Operating expense settled by
issuance of shares - 184 351 184
Change in fair value of
warrants (1,485) (1,577) (445) (8,981)
---------- ---------- ---------- ----------
Non IFRS loss $ (2,141) $ (3,466) $ (7,682) $ (13,362)
---------- ---------- ---------- ----------
Non IFRS basic and diluted
loss per Ordinary share $ (0.04) $ (0.07) $ (0.16) $ (0.32)
---------- ---------- ---------- ----------
Weighted average number of
shares outstanding used to
compute basic and diluted
loss per share 48,846,805 47,591,775 48,321,451 43,839,445
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SOURCE Freightos
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(END) Dow Jones Newswires
November 25, 2024 07:00 ET (12:00 GMT)