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  "authorName": "Olaplex",
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  "presentationDate": "2023-03-01 00:00:00",
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      "text": "¹ On February 23, 2022, the Company refinanced its existing secured credit facility with a new credit agreement. This refinancing resulted in recognition of loss on extinguishment of debt of $18.8 million which is comprised of $11.0 million in deferred financing fee write off, and $7.8 million of prepayment fees for the previously existing credit facility\n² Includes costs incurred related to the resolution of the LIQWD Matters of $14.3 million.\n³ Related to unused stock of a product that the Company reformulated in June 2021 as a result of regulation changes in the E.U.\n⁴ Represents one-time costs associated with the departure of the Company's Chief Operating Officer during the year ended December 31, 2022.\n⁵ Labelling stock write-off and disposal costs relate to disposal of unused product labels that the Company was required to update as a result of regulation changes in the E.U that become effective in the first quarter of 2023\n⁶ Represents non-capitalizable professional fees and executive severance incurred in connection with the IPO and the Company's public company transition.\n⁷ Represents applicable tax receivable agreement liability adjustments.",
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      "text": "Net Income $34 $69 $244 $221\nInterest expense (income) 10 15 41 61\nIncome tax provision 8 17 61 55\nDepreciation and amortization of intangible assets 13 12 49 49\nLoss on on extinguishment of debt¹ - - 19 -\nCosts incurred LIQWD Matters² - - - 14\nInventory write off and disposal³ - - 5 -\nShare-based compensation 2 1 7 4\nExecutive reorganization costs⁴ 4 - 4 -\nLabelling stock write off and disposal⁵ - - 2 -\nDistribution start-up costs - - - -\nNon-capitalizable IPO and strategic transaction costs⁶ - - - 8\nTax receivable agreement liability adjustment⁷ (3) (4) (3) (4)\nAdjusted EBITDA $68 $111 $429 $409\nAdjusted EBITDA Margin 51.7% 66.5% 60.9% 68.3%",
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