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      "text": "Q4 2023 EARNINGS",
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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 disposing of unused stock.\n2. Represents initial costs and ongoing benefit payments associated with the departure of the Company's Chief Operating Officer during the year ended December 31, 2022.\n3. Represents costs associated with the Company's CEO transition and other organizational realignment, recorded during the year ended December 31, 2023.\n4. 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 became effective in the first quarter of 2023.\n5. During the year ended December 31, 2023, the Company made a one-time $3.5 million payment to a former distributor in the United Arab Emirates, which enabled the Company to establish a partnership with another distributor in the region.\n6. 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.\n7. The distribution start-up costs relate to one-time charges associated with the set-up of a new third party logistics provider.\n* Costs for this period were less than $500 thousand dollars, and round to zero in this presentation.",
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      "text": "Adjusted Net Income ($MM)\nFor the Year Ended December 31,\n2023\n2022\nNet Income $ 62 $ 244\nAmortization of intangible assets (excluding software) 49 48\nLoss on extinguishment of debt4 - 19\nShare-based compensation 9 7\nOne-time former distributor payment5 4 -\nInventory write off and disposal1 * 5\nExecutive reorganization costs2 - 4\nOrganizational realignment3 3 -\nLabelling stock write off and disposal4 - 2\nDistribution start-up costs7 - *\nTax receivable agreement liability adjustment (8) (3)\nTax effect of adjustments (11) (14)\nAdjusted net income $ 108 $ 312\nAdjusted net income per share:\nBasic $0.17 $0.48\nDiluted $0.16 $0.45",
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      "text": "Adjusted SG&A ($MM)\nFor the Year Ended December 31,\n2023\n2022\nSG&A $ 169 $ 113\nShare-based compensation (9) (7)\nExecutive reorganization costs2 * (4)\nOrganizational realignment3 (3) -\nOne-time former distributor payment5 (4) -\nDistribution start-up costs7 - *\nAdjusted SG&A $ 153 $ 102",
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