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  "presentationDate": "2024-02-01 00:00:00",
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      "text": "(a) Includes the true-up of share-based compensation expense in the three months ended December 31, 2023. We have certain outstanding multi-year share-based awards, granted in FY 2020, with performance-based vesting conditions that require the achievement of certain Adjusted EBITDA targets in FY 2024 as a condition to vesting. At each reporting period, we reassess the probability of achieving the performance criteria and the performance period required to meet those targets set in 2020. When such performance conditions are deemed to be improbable of achievement, the compensation cost previously recorded is reversed.\n(b) Represents implementation, amortization of deferred implementation costs and other costs associated with the implementation of an ERP system.\n(c) Represents fees associated with the Capped Call Transactions.\n(d) Represents advisory fees related to activism engagement.\n(e) Represents a true-up to transition costs related to the organization changes designed to support growth, including several changes in organizational structure designed to enhance capabilities and support long-term growth objectives.",
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      "text": "Source: Internal Data",
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      "text": "SG&A expenses\nDepreciation and amortization expense\nNon-cash share-based compensation (a)\nLoss on disposal of equipment\nEnterprise Resource Planning (b)\nCapped Call Transactions fees (c)\nActivism engagement (d)\nOrganization changes (e)\nAdjusted SG&A Expenses\nAdjusted SG&A Expenses as a % of Net Sales\nThree Months Ended December 31, 2023: $59,680, 4,248, (2,315), 86, 465, —, —, —, $57,196, 26.6%\nThree Months Ended December 31, 2022: $47,775, 3,565, 3,178, 193, 3,613, —, —, —, $37,227, 22.4%\nTwelve Months Ended December 31, 2023: $281,318, 15,849, 13,941, 774, 2,457, 113, 8,177, (67), $240,074, 31.3%\nTwelve Months Ended December 31, 2022: $238,016, 13,781, 18,799, 396, 8,558, —, —, 734, $195,748, 32.9%",
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      "kind": "title",
      "text": "Freshpet, Inc. and Subsidiaries Reconciliation between SG&A Expenses and Adjusted SG&A Expenses",
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