Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 104

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 104
---
 stock-based compensation expense, lease intangible asset expense, transaction costs, foreign currency exchange rate impacts and certain other adjustments. We define Adjusted EBITDA margin as Adjusted EBITDA divided by net sales, expressed as a percentage.

26

Table of Contents

A reconciliation of GAAP net loss and GAAP net loss per diluted share to Adjusted net income and Adjusted net income per diluted share is presented in the table below:

Thirteen Weeks Ended(in thousands, except per share amounts)March 29, 2025March 30, 2024Net loss:Net loss$(4,723)$(467)Loss on extinguishment of debt (1)(2)2,7184,088 IPO-related stock-based compensation expense (1)(3)8,87917,993Transaction costs (1)(4)—2,257Foreign currency exchange rate impacts (1)(5)(486)956Other adjustments (1)(6)(327)2Tax effect on adjustments (7)(2,664)(6,122)Excess tax shortfall (benefit) from stock-based compensation218(3,028)Adjusted net income$3,615$15,679Net loss per share, diluted (8):Net loss per share, diluted$(0.03)$(0.00)Loss on extinguishment of debt (1)(2)0.020.02IPO-related stock-based compensation expense (1)(3)0.050.11Transaction costs (1)(4)—0.01Foreign currency exchange rate impacts (1)(5)—0.01Other adjustments (1)(6)——Tax effect on adjustments (7)(0.02)(0.04)Excess tax shortfall (benefit) from stock-based compensation—(0.02)Adjusted net income per diluted share$0.02$0.09

(1)Presented pre-tax.

(2)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.

(3)Represents stock-based compensation expense for performance-based options triggered by the completion of our IPO and expense related to restricted stock units issued in connection with the Company’s IPO. 

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

(5