Company: PTPI
Filing Date: 2025-02-13
Form Type: S-1/A
Source: 0001410578-25-000122
Chunk: 174

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-13
Form: S-1/A
Chunk 174
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 inference that future results will be unaffected by unusual or recurring items. The Company defines Adjusted EBITDA as net income (loss) adjusted to exclude (i) interest expense, net, (ii) depreciation and amortization and (iii) income taxes, as further adjusted to eliminate the impact of certain items that the Company does not consider indicative of its ongoing operating performance or that are non-recurring in nature. For example, Adjusted EBITDA:

| ● | does not reflect the Company’s capital expenditures, future requirements for capital expenditures or contractual commitments; |

| ● | does not reflect changes in, or cash requirements for, the Company’s working capital needs; |

| ● | does not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on the Company’s debt; and |

| ● | does not reflect payments related to income taxes, if applicable. |

The following table presents a reconciliation of Net loss to Adjusted EBITDA for the years ended December 31, 2023, and 2022.

| ​                                            | ​ 
 ​ | For the Year Ended |             | ​ |   |             | ​ |
|:---------------------------------------------|:--|-------------------:|------------:|:--|:--|------------:|:--|
| ​                                            | ​ |       December 31, |             |   |   |             | ​ |
| ​                                            |   |               2023 |             |   | ​ |        2022 | ​ |
| Net Loss                                     | ​ |                  $ |  -8,163,188 | ​ | $ | -20,037,573 |   |
| Interest income                              | ​ |                  ​ |    -515,311 | ​ | ​ |     -14,194 | ​ |
| Interest expense, promissory note            | ​ |                  ​ |     536,138 | ​ | ​ |     596,018 | ​ |
| Depreciation and amortization expense        | ​ |                  ​ |   3,282,967 | ​ | ​ |   5,598,884 | ​ |
| EBITDA                                       | ​ |                  ​ |  -4,859,394 | ​ | ​ | -13,856,865 | ​ |
| Stock based compensation                     | ​ |                  ​ |     417,230 | ​ | ​ |   1,195,076 | ​ |
| Gain on settlement with Vivus                |