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  "documentTitle": "Olaplex | Results Presentation Deck | 25 slides",
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  "authorName": "Olaplex",
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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 $500 thousand dollars, and round to zero in this presentation.",
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      "text": "Adjusted SG&A($MM)\nFor the Quarter Ended March 31,\n2023\n2022\nSG&A\n$ 35\n$ 23\nShare-based compensation\n(2)\n(2)\nExecutive reorganization costs²\n*\n-\nAdjusted SG&A\n$ 33\n$ 21",
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      "text": "Adjusted Net Income ($MM)\nFor the Quarter Ended March 31,\n2023\n2022\nNet Income\n$ 21\n$ 62\nAmortization of intangible assets (excluding software)\n12\n12\nShare-based compensation\n2\n2\nInventory write off and disposal¹\n*\n4\nExecutive reorganization costs²\n*\n-\nLoss on extinguishment of debt³\n-\n19\nTax effect of adjustments\n(4)\n(8)\nAdjusted net income\n$ 31\n$ 91\nAdjusted net income per share:\nBasic\n$ 0.05\n$0.14\nDiluted\n$ 0.05\n$0.13",
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      "text": "NON-GAAP RECONCILIATION",
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