14 unchanged sentences
RECENT SALES OF UNREGISTERED SECURITIES
−Removed: None except as otherwise described in a Current Report on Form 8-K or a Quarterly Report on form 10-Q.
+Added: On October 20, 2021, the Company issued 4,599 shares of its common stock, $0.00025 par value per share, in connection with the purchase of certain intellectual property assets and product inventory from Devise Ortho, Inc.
+Added: The purchase price also included $0.650 million in cash.
+Added: The shares were valued at $64.83 per share, representing the closing price per share on the date of issuance.
+Added: The issuance of the common stock was made in reliance upon an exemption provided under Section 4(a)(2) of the Securities Act of 1933, as amended.
EQUITY COMPENSATION PLAN INFORMATION
3 unchanged sentences
Total 375,084 $ 45.18 694,186
−Removed: SELECTED FINANCIAL DATA
−Removed: The following selected financial data has been derived from our audited consolidated financial statements.
−Removed: (In Thousands, Except Share Data) 2020 2019 2018 2017 2016
−Removed: Net revenue $ 71,078 $ 72,552 $ 57,559 $ 45,620 $ 37,298
−Removed: Cost of revenue 16,047 17,933 14,879 11,170 10,931
−Removed: Gross profit 55,031 54,619 42,680 34,450 26,367
−Removed: Operating loss (1) (3)
−Removed: (26,755) (9,077) (9,553) (6,472) (6,127)
−Removed: Total other expenses 6,912 3,608 2,472 2,460 445
−Removed: Net loss from continuing operations before provision for income taxes (1) (3)
−Removed: (33,667) (12,685) (12,025) (8,932) (6,572)
−Removed: Provision for income taxes (benefit) (723) — — — —
−Removed: Loss from discontinued operations — (1,046) — — —
−Removed: Net loss (1) (3)
−Removed: (32,944) (13,731) (12,025) (8,932) (6,572)
−Removed: Adjusted EBITDA (4)
−Removed: (5,871) (1,066) (3,476) (58) (995)
−Removed: Per Share Data
−Removed: Net loss from continuing operations per share attributable to common stockholders - basic and diluted (2)
−Removed: $ (1.82) $ (0.87) $ (0.96) $ (5.86) $ (7.14)
−Removed: Net loss from discontinued operations per share attributable to common stockholders - basic and diluted — (0.07) — — —
−Removed: Net loss per share attributable to common stockholders - basic and diluted $ (1.82) $ (0.94) $ (0.96) $ (5.86) $ (7.14)
−Removed: Balance Sheet Data
−Removed: Total assets $ 320,412 $ 194,564 $ 112,105 $ 82,301 $ 30,676
−Removed: Total liabilities 85,644 52,203 30,373 34,806 24,682
−Removed: Redeemable convertible preferred stock — — — — 71,303
−Removed: Total stockholders' equity (deficit) 234,768 142,361 81,732 47,495 (65,309)
−Removed: (1) The 2018 and 2017 results include $1,986 and $2,049 noncash accelerated restricted stock expense related to our October 2017 IPO.
−Removed: (2) The 2017 Net loss per share attributable to common stockholders - basic and diluted includes the impact of the $16,000 Series A preference payment paid in common stock partially offset by the impact of the $5,965 forfeiture of 50% of the Series B accumulated dividends related to our October 2017 IPO.
−Removed: (3) The 2016 results includes $1,979 of expenses related to our aborted IPO.
−Removed: (4) EBITDA is a non-GAAP financial measure which consists of net loss attributable to OrthoPediatrics Corp.
−Removed: before interest, provision for income taxes (benefit), other expense (income) and depreciation and amortization.
−Removed: Adjusted EBITDA, also a non-GAAP financial measure, is EBITDA adjusted to add back stock-based compensation expense, accelerated vesting of restricted stock upon our IPO, acquisition related costs (consisting of accounting and legal fees), fair value adjustment of contingent consideration, initial public offering costs and accrued legal settlement costs.
−Removed: Adjusted EBITDA is presented because we believe it is a useful indicator of our operating performance.
−Removed: Management uses the measure as a measure of the Company's operating performance and for planning purposes, including financial projections.
−Removed: We believe this measure is useful to investors as supplemental information because it is frequently used by analysts, investors and other interested parties to evaluate companies in our industry.
−Removed: We believe Adjusted EBITDA is useful to its management and investors as a measure of comparative operating performance from period to period.
−Removed: Adjusted EBITDA is a non-GAAP financial measure and should not be considered as an alternative to, or superior to, net income or loss as a measure of financial performance or cash flows from operations as a measure of liquidity, or any other performance measure derived in accordance with GAAP, and it should not be construed to imply that the Company’s future results will be unaffected by unusual or non-recurring items.
−Removed: In addition, the measure is not intended to be a measure of free cash flow for management’s discretionary use, as it does not reflect certain cash requirements such as debt service requirements, capital expenditures and other cash costs that may recur in the future.
−Removed: Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and other potential cash requirements.
−Removed: In evaluating Adjusted EBITDA, you should be aware that in the future the Company may incur expenses that are the same or similar to some of the adjustments in this presentation.
−Removed: Our presentation of Adjusted EBITDA should not be construed to imply that its future results will be unaffected by any such adjustments.
−Removed: Management compensates for these limitations by primarily relying on the Company’s GAAP results in addition to using Adjusted EBITDA on a supplemental basis.
−Removed: Our definition of this measure is not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation.
−Removed: The schedule below contains a reconciliation of Net loss from continuing operations to Adjusted EBITDA.
−Removed: (In Thousands, Except Share Data) 2020 2019 2018 2017 2016
−Removed: Net Loss from Continuing Operations $ (32,944) $ (12,685) $ (12,025) $ (8,932) $ (6,572)
−Removed: Interest expense, net 3,412 3,538 2,255 2,490 1,476
−Removed: Provision for income taxes (benefit) (723) — — — —
−Removed: Other expense (income) (20) 70 217 (30) (1,031)
−Removed: Depreciation and amortization 8,010 4,671 2,892 2,405 1,902
−Removed: Stock-based compensation 6,196 2,603 1,199 1,429 1,251
−Removed: Accelerated vesting of restricted stock upon our IPO — — 1,986 2,049 —
−Removed: Acquisition related costs 336 737 — — —
−Removed: Fair value adjustment of contingent consideration 3,520 — — — —
−Removed: Initial public offering costs — — — — 1,979
−Removed: Accrued legal settlement costs 6,342 — — — —
−Removed: Adjusted EBITDA $ (5,871) $ (1,066) $ (3,476) $ (58) $ (995)
+Added: Intentionally omitted.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.