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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.",
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      "text": "Source: Internal Data",
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      "text": "Three Months Ended March 31, 2024, 2023 (Dollars in thousands) Gross profit $ 88,158 $ 50,760 Depreciation expense 10,675 10,721 Non-cash share-based compensation (a) 2,622 2,956 Loss on disposal of manufacturing equipment 21 Adjusted Gross Profit $ 101,476 $ 64,437 Adjusted Gross Profit as a % of Net Sales 45.3% 38.5%",
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      "text": "Freshpet, Inc. and Subsidiaries Reconciliation between Gross Profit and Adjusted Gross Profit",
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