Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 381

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1A
Chunk 381
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 a substitute for analysis of our results as reported under US GAAP.  These measures are defined differently by different companies, and accordingly, such measures may not be comparable to similarly titled measures of other companies, and have important limitations as an analytical tool.

A reconciliation of net income to adjusted EBITDA for the years ended December 31, 2024 and 2023 is presented in the following table (in 000’s):

  Year Ended December 31,   2024  2023   Amount  Amount        Net loss from continuing operations: $(13,281 ) $(3,441 )Adjustments:        Impairment loss on intangible assets  14,150   — Depreciation and amortization  2,928   2,788 Interest expense, net  1,107   1,249 Income tax benefit  (4,064 )  (938 )EBITDA  840   (342 )Acquisition and/or integration costs(1)  189   546 Other non-recurring expenses(2)  138   436 Stock-based compensation expense(3)  728   1,365 Adjusted EBITDA: $1,895  $2,005 

 27Table of Contents

 (1)This adjustment gives effect to one-time corporate projects, including acquisition and integration related expenses, incurred during the periods. (2)For the year ended December 31, 2024, this adjustment gives effect to a gain recorded on the change in fair value of our interest rate swap of $81,000, as well as, one-time accounting fees, termination benefits and other non-recurring or unusual expenses of $219,000. For the year ended December 31, 2023, this adjustment gives effect to $370,000 payment related to early extinguishment of our Seller Note and one-time non-recurring expenses of $45,000 and a loss on the change in fair value of our interest rate swap of $21,000. (3)The adjustments represent stock-based compensation expense related to awards of stock options, restricted stock units, or common stock in exchange for services. Although we expect to continue to award stock in exchange for services, the amount of stock-based compensation is excluded as it is subject to change as a result of one-time or non-recurring projects.

A reconciliation of net income to adjusted net