Company: NEOG
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0000950170-25-005818
Chunk: 43

Company: NEOGEN CORP
Filing Date: 2025-01-15
Form: 10-Q
Item: Item 2
Chunk 43
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 flow from operating activities or other measures of financial performance. This information does not purport to represent the results Neogen would have achieved had any of the transactions for which an adjustment is made occurred at the beginning of the periods presented or as of the dates indicated. This information is inherently subject to risks and uncertainties. It may not give an accurate or complete picture of Neogen’s financial condition or results of operations for the periods presented and should not be relied upon when making an investment decision.  

The use of the terms EBITDA, Adjusted EBITDA, and Adjusted EBITDA margin may not be comparable to similarly titled measures used by other companies or persons due to potential differences in the method of calculation. 

These non-GAAP financial measures have limitations as analytical tools. For example, for EBITDA-based metrics: 

•they do not reflect changes in, or cash requirements for, Neogen’s working capital needs; 

•they do not reflect Neogen’s tax expense or the cash requirements to pay taxes; 

•they do not reflect the historical cash expenditures or future requirements for capital expenditures or contractual commitments; 

•they do not reflect any cash requirements for future replacements of assets that are being depreciated and amortized; and 

•they may be calculated differently from other companies in Neogen’s industries limiting their usefulness as comparative measures. 

A reader should compensate for these limitations by relying primarily on the financial statements of Neogen and using these non-GAAP financial measures only as a supplement to evaluate Neogen’s performance. 

For each of these non-GAAP financial measures below, we are providing a reconciliation of the differences between the non-GAAP measure and the most directly comparable GAAP measure. 

23

Reconciliation between net loss and EBITDA and Adjusted EBITDA and between net loss margin % and Adjusted EBITDA margin % are as follows: 

    Three months ended November 30,

    Six months ended November 30,

    2024

    2023

    2024

    2023

    Net loss
     
    $
    (456,282
    )
     
    $
    (3,487
    )
     
    $
    (468,891
    )
     
    $
    (1,984
    )

    Net loss margin %

    -197.3
    %

    -1.5
    %

    -104.6
    %

    -0.4
    %

    Income tax benefit