INCOME STATEMENT HIGHLIGHTS:
Revenue for 2019 was
Gross profit decreased approximately
Adjusted EBITDA was a loss of approximately
BALANCE SHEET HIGHLIGHTS:
Cash and cash equivalents were
Total assets were
Total liabilities were
Total stockholders' equity was
On
Non-GAAP Financial Measure - Adjusted EBITDA
This news release includes information on Adjusted EBITDA, which is a non-GAAP financial measure as defined by SEC Regulation G.
Management believes that Adjusted EBITDA, when viewed with our results under GAAP and the accompanying reconciliations, provides useful information about our period-over-period growth. Adjusted EBITDA is presented because management believes it provides additional information with respect to the performance of our fundamental business activities and is also frequently used by securities analysts, investors and other interested parties in the evaluation of comparable companies. We also rely on Adjusted EBITDA as a primary measure to review and assess the operating performance of our company and our management team.
Adjusted EBITDA is a non-GAAP financial measure. We calculate adjusted EBITDA by taking net income (loss), and adding back the expenses related to interest, income taxes, depreciation, amortization, of stock-based compensation expense, equity-based compensation expense, amortization of debt discount and issuance costs, the change in the fair value of the derivatives, the loss on the modification of warrants, the loss on impairment of goodwill, the loss on impairment of intangible assets, the loss on induced debt conversion, the loss on induced debt conversion, and the loss on extinguishment of debt and the loss on induced debt conversion, as each of those elements are calculated in accordance with GAAP. Adjusted EBITDA should not be construed as a substitute for net income (loss) (as determined in accordance with GAAP) for the purpose of analyzing our operating performance or financial position, as Adjusted EBITDA is not defined by GAAP. A reconciliation of Adjusted EBITDA to Net Loss is presented in the table at the end of this press release.
About
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as 'may,' 'should,' 'potential,' 'continue,' 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'estimates,' and similar expressions. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements, and include statements regarding the filing of our 2019 results providing an easier path for our auditors and accountants toward the completion of our 2020 Form 10-K and getting in cadence with our financial reporting, quickening the timeline for our 2020 10-K filing, becoming current with our financial reporting during the fourth quarter of this year and filing restated Forms 10-Q related to 2019 Q1, Q2, and Q3 periods as soon as practicable. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to complete our 2020 Form 10-K and become current in our financial reporting as planned, our ability to improve our profitability, expand our liquidity, and strengthen our balance sheet, the acceptance of the omni-direct approach by our customers, our ability to expand our distribution, our ability to continue our financial performance and the other factors discussed in our Annual Report on Form 10-K for the year ended
Consolidated Statements of Operations
(In thousands, except share and per share amounts)
A reconciliation of our adjusted EBITDA to net loss (in thousands):
[Please see the Notes to the consolidated financial statements and complete financial statements at https://ygyi.com/investors/sec-filings/
Contacts:
President and Chief Investment Officer
1 800 982 3189
Investor Relations
YGYI Investor Relations
investors@ygyi.com
(C) 2021 Electronic News Publishing, source