Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 79

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 the thirteen weeks ended March 29, 2025 and March 30, 2024, Adjusted net income per diluted share includes 5.6 million and 6.8 million, respectively, of potential shares of common stock relating to awards of stock options and restricted stock units that were excluded from the calculation of GAAP diluted net loss per share as their inclusion would have had an antidilutive effect.

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Table of Contents

A reconciliation of GAAP net loss to Adjusted EBITDA is presented in the table below:

Thirteen Weeks Ended(dollars in thousands)March 29, 2025March 30, 2024Net 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)