Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 46

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 loss$(4,723)$(467)Interest expense, net14,814 16,076 Income tax benefit(941)(4,492)Depreciation and amortization19,358 18,301 Loss on extinguishment of debt (1)2,718 4,088 Stock-based compensation expense (2)11,536 19,129 Lease intangible asset expense (3)833 877 Transaction costs (4)— 2,257 Foreign currency exchange rate impacts (5)(486)956 Other adjustments (6)(327)2 Adjusted EBITDA$42,782 $56,727 Net loss margin(1.3)%(0.1)%Adjusted EBITDA margin11.6%16.0%

(1)Removes the effects of the loss on extinguishment of debt in relation to the repricing of outstanding borrowings under the Term Loan Facility on January 30, 2024 and the partial redemption of our Senior Secured Notes on March 4, 2024 and February 6, 2025. 

(2)Represents non-cash stock-based compensation expense related to stock options and restricted stock units granted to certain of our employees and directors. 

(3)Represents lease expense associated with acquired lease intangibles. Prior to the adoption of Topic 842, this expense was included within depreciation and amortization.

(4)Transaction costs are comprised of non-capitalizable expenses related to offering costs, debt transactions and acquisitions. 

(5)Represents remeasurement (gains) losses on unsettled foreign currency transactions, realized and unrealized (gains) losses on cross currency swaps, and unrealized (gains) losses on forward contracts. Beginning in fiscal 2025, this line does not include realized (gains) losses on forward contracts. The impact of the change is inconsequential to prior periods, so we have not recast previous year amounts to reflect this change.

(6)Other adjustments for the thirteen weeks ended March 29, 2025 includes a change in the fair value of acquisition-related contingent consideration.

Constant currency

The Company reports certain operating results on a constant-currency basis in order to facilitate period-to-period comparisons of its results without regard to the impact of fluctuating foreign currency exchange rates. The term foreign currency exchange rates refers to the exchange rates used to translate the Company's operating results for all countries where the functional currency is not the USD into the USD. Because