Company: PTPI
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001410578-25-000047
Chunk: 164

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 164
---
3,759,843 | ​ |
| Stock based compensation                     | ​ |                         ​ |    197,215 | ​ |    ​ |     204,492 | ​ |                          ​ |          — | ​ |    ​ |      30,840 | ​ |
| Change in fair value of derivative liability | ​ |                         ​ | -3,550,000 | ​ |    ​ |     430,000 | ​ |                          ​ |   -202,000 | ​ |    ​ |     430,000 | ​ |
| Change in fair value of warrant liability    | ​ |                         ​ |          — | ​ |    ​ | -11,739,000 | ​ |                          ​ |          — | ​ |    ​ | -11,739,000 | ​ |
| Loss on issuance of Series A Preferred Stock | ​ |                         ​ |          — | ​ |    ​ |  11,088,997 | ​ |                          ​ |          — | ​ |    ​ |  11,088,997 | ​ |
| Adjusted EBITDA                              | ​ |                         $ | -6,176,587 | ​ |    $ |  -5,893,869 | ​ |                          $ | -1,600,299 | ​ |    $ |  -3,949,006 | ​ |

Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of the Company’s results as reported under GAAP. Gross Billings Gross billings is a non-GAAP financial measure utilized as a key performance metric by management and the Company’s Board of Directors in their financial and operational decision-making as well as for the preparation of the annual budget. The Company believes that gross billings is useful to investors as a supplemental way to provide an alternative measure of the total demand for the products sold by the Company. Gross billings is a non-GAAP financial measure commonly used in the Company’s industry and should not be construed as an alternative to net sales as an indicator of operating performance (as determined in accordance with GAAP). The Company’s presentation of gross billings may not be comparable to similarly titled measures reported by other companies. Gross billings is adjusted to exclude certain items that affect comparability. The adjustments are itemized in the tables below. You are encouraged to evaluate these adjustments and the reason the Company considers them appropriate for supplemental analysis. In evaluating adjustments, you should be aware that in the