Company: SPWH
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000950170-25-048890
Chunk: 586

Company: SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 6
Chunk 586
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 or principal payments, on our debt; and

•Adjusted EBITDA does not reflect income taxes or the cash requirements for any tax payments. 

56

A reconciliation of net (loss) income to Adjusted EBITDA and a calculation of Adjusted EBITDA margin is set forth below for the periods presented (amounts in thousands). 

    Fiscal Year Ended

    February 1,

    February 3,

    January 28,

    2025

    2024

    2023

    Net (loss) income (1)
     
    $
    (33,059
    )
     
    $
    (28,997
    )
     
    $
    40,518

    Interest expense

    12,278

    12,869

    4,195

    Income tax expense (benefit) (2)

    1,930

    (9,209
    )

    13,350

    Depreciation and amortization

    40,498

    39,009

    31,776

    Stock-based compensation expense (3)

    4,229

    4,237

    4,673

    Executive transition costs (4)

    1,081

    4,763

    1,329

    Cancelled contract (5)

    911

    —

    —

    Cost reduction plan (6)

    —

    1,216

    —

    Legal expense (7)

    1,750

    687

    2,088

    Adjusted EBITDA
     
    $
    29,618

    $
    24,575

    $
    97,929

    Net sales

    1,197,633

    1,287,987

    1,399,515

    Net (loss) income margin (8)

    (2.9
    )%

    (2.2
    )%

    2.9
    %

    Adjusted EBITDA margin (8)

    2.5
    %

    1.9
    %

    7.0
    %

(1)Beginning with the three months ended October 28, 2023, we no longer add back new store pre-opening expenses to our net (loss) income to determine Adjusted EBITDA. The presentation of past periods has