Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 154

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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 other items, if any,
that other companies may exclude from similarly titled non-GAAP measures when they report their operating results, and we may, in the
future, exclude other significant, unusual or non-recurring expenses or other items from these financial measures.

Because
of these limitations, adjusted EBITDA should be considered along with other financial performance measures presented in accordance with
GAAP, and not as an alternative or substitute for our financial results prepared and presented in accordance with GAAP.

Adjusted
EBITDA

We
calculate adjusted EBITDA as net income (loss) adjusted for the impact of interest expense, depreciation and amortization expense, loss
on extinguishment of debt, net loss from discontinued operations, stock-based compensation expense, and other non-recurring or non-core
operational expenses.

The
following table presents a reconciliation of net income (loss) to adjusted EBITDA:

    Three
                                            Months Ended
                                                                  September
                                            30,  
    Nine
                                            Months Ended
                                                                  September
                                            30, 
  
    (Dollars
    in thousands) 
    2025  
    2024  
    2025  
    2024 
  
    Net
    loss 
    $(3,962) 
    $(1,359) 
    $(15,029) 
    $(4,140)
  
    Interest
    expense 
     69  
     409  
     2,346  
     965 
  
    Depreciation
    and amortization 
     831  
     -  
     2,487  
     - 
  
    Loss
    on extinguishment of debt 
     685  
     -  
     610  
     - 
  
    Net
    loss from discontinued operations 
     383  
     513  
     745  
     2,028 
  
    Stock-based
    compensation expense 
     -  
     40  
     130  
     172 
  
    Merger-related
    expenses (1) 
     -  
     -  
     321  
     - 
  
    Adjusted
    EBITDA 
    $(1,994) 
    $(397) 
    $(8,390) 
    $(975)

    (1)
    Merger-related
    expenses include the costs related to