Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 75

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 75
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 comparative measure. Free cash flow and adjusted free cash flow are non-GAAP financial measures.  

For the years ended December 31, 2024 and 2023, free cash flow and adjusted free cash flow were as follows:

  Year Ended December 31,   2024  2023        Net cash provided by (used in) operating activities of continuing operations (US GAAP) $400  $(741)Payments for purchase of fixed assets and capitalized software  (616 )  (503 )Free cash flow (Non-GAAP)  (216 )  (1,244)Cash paid for acquisition and integration related items(1)  23   373 Cash paid for other unusual items(2)  219   395 Adjusted free cash flow (Non-GAAP) $26  $(476)

 (1)This adjustment gives effect to one-time corporate projects, including acquisition and/or integration related expenses, paid during the periods. (2)For the year ended December 31, 2024, this adjustment gives effect to payments for one-time accounting fees, termination benefits and other non-recurring or unusual expenses. During the year ended December 31, 2023, this adjustment is primarily related to a one-time payment of $370,000 related to the early termination of the note payable associated with the Newswire acquisition.

Adjusted EBITDA and adjusted net income are non-GAAP financial measures and should not be considered as a substitute for analysis of our results as reported under US GAAP.  These measures are defined differently by different companies, and accordingly, such measures may not be comparable to similarly titled measures of other companies, and have important limitations as an analytical tool.

A reconciliation of net income to adjusted EBITDA for the years ended December 31, 2024 and 2023 is presented in the following table (in 000’s):

  Year Ended December 31,   2024  2023   Amount  Amount        Net loss from continuing operations: $(13,281 ) $(3,441 )Adjustments:        Impairment loss on intangible assets  14,150   — Depreciation and amortization  2,928   2,788 Interest expense, net  1,107   1,249 Income tax benefit  (4,064 )  (938 )EBITDA