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  "presentationDate": "2023-05-01 00:00:00",
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      "text": "1. The inventory write-off and disposal costs relate to unused stock of a product that the Company reformulated in June 2021 as a result of regulation changes in the E.U. In the interest of having a single formulation for sale worldwide, the Company reformulated on a global basis and is now disposing of unused stock.\n2. Executive reorganization costs in the three months ended March 31, 2023 represent ongoing benefit payments associated with the departure of the Company's Chief Operating Officer during the year ended December 31, 2022.\n3. On February 23, 2022, the Company refinanced its existing secured credit facility with a new credit agreement comprised of a $675 million senior secured term loan facility and a $150 million senior secured revolving credit facility. 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. Loss on extinguishment of debt is included as non-ordinary costs and fees in the reconciliations above.\n* Costs for this period were less than $500 thousand dollars, and round to zero in this presentation.",
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      "text": "Adjusted EBITDA ($MM)\nFor the Quarter Ended March 31,\n2023: Net Income $21, Depreciation and amortization of intangible assets 12, Interest expense 11, Income tax provision 4, Share-based compensation 2, Inventory write off and disposal* , Executive reorganization costs* , Loss on extinguishment of debt* , Adjusted EBITDA $50, Adjusted EBITDA margin 44.0%\n2022: Net Income $62, Depreciation and amortization of intangible assets 12, Interest expense 11, Income tax provision 16, Share-based compensation 2, Inventory write off and disposal 4, Executive reorganization costs -, Loss on extinguishment of debt 19, Adjusted EBITDA $126, Adjusted EBITDA margin 67.9%",
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      "text": "Adjusted Gross Profit ($MM)\nFor the Quarter Ended March 31,\n2023: Gross Profit $81, Amortization of patented formulations 2, Inventory write off and disposal* , Adjusted Gross Profit $83, Adjusted Gross Profit Margin 72.6%\n2022: Gross Profit $141, Amortization of patented formulations 2, Inventory write off and disposal 4, Adjusted Gross Profit $147, Adjusted Gross Profit Margin 79.1%",
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