Company: UTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001628280-25-047281
Chunk: 68

Company: Utz Brands, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 loans)(1)(0.4)(0.6)(1.4)(1.5)EBITDA23.8 30.5 97.7 142.5 Certain Non-Cash Adjustments(2)7.3 6.2 18.4 15.1 Acquisitions, Divestitures and Investments(3)8.1 2.8 25.1 (34.5)Business Transformation Initiatives(4)20.1 8.1 34.6 18.4 Financing-Related Costs(5)0.3 — 1.1 0.3 Loss (gain) on Remeasurement of Warrant Liability(6) 0.7 6.4 (22.8)5.3 Adjusted EBITDA$60.3 $54.0 $154.1 $147.1 Net (loss) income as a % of Net Sales(5.3)%0.2 %(0.4)%2.7 %Adjusted EBITDA as a % of Net Sales16.0 %14.8 %14.1 %13.8 %

26

(1)Interest Income (IO loans) refers to interest income that we earn from IO notes receivable that has resulted from our initiatives to transition from RSP distribution to IO distribution ("Business Transformation Initiatives"). There is a notes payable recorded that mirrors most of the IO notes receivable, and the interest expense associated with the notes payable is part of the Interest Expense, Net adjustment.

(2)Certain Non-Cash Adjustments are comprised primarily of the following:

Incentive programs – The Company incurred $4.6 million and $4.7 million of share-based compensation expense for awards to employees and directors, and compensation expense associated with the Omnibus Equity Incentive Plan (the "OEIP") for the thirteen weeks ended September 28, 2025 and September 29, 2024, respectively. The Company incurred $10.8 million and $13.1 million of share-based compensation expense for awards to employees and directors, and compensation expense associated with the OEIP for the thirty-nine weeks ended September 28, 2025 and September 29, 2024, respectively.

Loss on impairment – The Company recorded an impairment charge of $0.6 million during the thirty-nine weeks ended September 28, 202