Summary of Segment Information |
Information related to net sales and Adjusted EBITDA for the Company’s operations are summarized below (in thousands):
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Successor |
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Predecessor |
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Successor |
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Predecessor |
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Three Months Ended June 30, 2022 |
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Three Months Ended June 30, 2021 |
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Six Months Ended June 30, 2022 |
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Six Months Ended June 30, 2021 |
Net sales: |
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Fire safety |
$ |
66,577 |
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$ |
57,161 |
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$ |
85,047 |
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$ |
64,811 |
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Specialty products |
34,388 |
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29,960 |
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73,676 |
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56,235 |
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Total |
$ |
100,965 |
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$ |
87,121 |
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$ |
158,723 |
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$ |
121,046 |
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Adjusted EBITDA: |
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Fire safety |
$ |
24,219 |
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$ |
23,478 |
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$ |
20,885 |
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$ |
18,832 |
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Specialty products |
11,463 |
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7,667 |
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26,774 |
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15,423 |
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Total segment Adjusted EBITDA |
35,682 |
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31,145 |
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47,659 |
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34,255 |
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Less: |
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Depreciation and amortization |
16,715 |
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15,235 |
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33,086 |
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30,381 |
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Interest and financing expense |
12,142 |
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8,040 |
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22,638 |
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15,891 |
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Founders advisory fees - related party |
(20,465) |
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— |
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(80,313) |
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— |
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Non-recurring expenses |
2,144 |
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8,660 |
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3,620 |
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8,950 |
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Share-based compensation expense |
6,741 |
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— |
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12,465 |
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— |
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Non-cash purchase accounting impact |
18,016 |
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— |
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27,315 |
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— |
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(Gain) loss on contingent earn-out |
(9,398) |
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2,763 |
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(9,398) |
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2,763 |
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Management fees |
— |
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313 |
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— |
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625 |
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Contingent future payments |
— |
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625 |
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— |
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1,250 |
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Unrealized foreign currency loss (gain) |
3,156 |
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(540) |
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4,036 |
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2,258 |
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Income (loss) before income taxes |
$ |
6,631 |
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$ |
(3,951) |
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$ |
34,210 |
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$ |
(27,863) |
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