Exhibit 99.2

KALEYRA S.PA.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION

(In thousands)

(Unaudited)

 

     Years Ended December 31,  
     2018     2017  

Revenue (1)

   $ 77,949     $ 43,214  

Revenue - Solutions Infini prior to acquisition

     16,919       29,297  

Revenue - Buc Mobile prior to acquisition

     3,650       5,052  
  

 

 

   

 

 

 

Total Non-GAAP Revenue

   $ 98,518     $ 77,563  
  

 

 

   

 

 

 

Net Income (loss) (1)

   $ (7,219   $ 509  

Adjustments to net Income (loss):

    

Income tax expense (benefit)

     1,341       493  

Other income, net

     (371     (334

Interest expense, net

     442       219  

Foreign currency loss

     32       640  

Depreciation and amortization

     1,581       347  
  

 

 

   

 

 

 

Non-GAAP EBITDA

   $ (4,194   $ 1,874  
  

 

 

   

 

 

 

Loss on equity investments prior to acquisitions

   $ 1,053     $ 36  

EBITDA for pre-acquisition period of subsidiaries

     1,207       1,374  

Non-cash compensation expense

     1,170       550  

Non-cash stock option expense

     6,638       135  

Acquisition transaction costs

     1,537       306  
  

 

 

   

 

 

 

Non-GAAP adjusted EBITDA

   $ 7,411     $ 4,275  
  

 

 

   

 

 

 

 

(1)

Per unaudited US GAAP financial statements as of December 31, 2018 and 2017