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Very few publiccompanies offer monthly dividends, and the ones that do are typically real estate investment trusts (REITs) because they are legally required to pay out 90% of their taxable earnings to shareholders. times its adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) over the past few years.
When you look at the sum of the parts there are -- you can compare us to anybody else in, I think, in the business when you look at some of this but like Newrez, the mortgage company, there were public peers out there. I would encourage you to look at some of the publiccompanies that trade out there. Please go ahead.
Additionally, as our long-term tax receivable agreement, or TRA, and the related liability is tied to the usage of our deferred tax assets created via the FC structure. We have also removed that liability from our GAAP-based financial statement. Adjusted fully diluted EPS, a non-GAAP measure was $0.01
This GAAP to non-GAAP reconciliation includes stock-based compensation expense, amortization of acquired intangibles, and acquisition-related expenses, which include transaction and certain other cash costs associated with business acquisition, as well as changes in the estimated fair value of contingent consideration and earn-out liabilities.
Good morning, and thank you for joining our second-quarter earnings call and our very first as a publiccompany. Over the last 135 years, we have established ourselves as the world's largest pure-play consumer health company. Excluding amortization, adjusted gross margin was 57.5%. Now, getting into the quarter.
Quarterly adjusted gross profit margin, excluding depreciation and amortization, improved to 79.4%, nearly 300 basis points higher than last year. And as we think about some of the opportunities to continue to expand, we're actually seeing pressure from the amortization as those investments build in.
If you go back to the WMIH merger in 2018, which is when we became a fully independent publiccompany, our first priority was deleveraging, which we accomplished by refinancing our senior notes and extending our liquidity runway. Now, that's the lowest level of Mr. Cooper's history as a publiccompany.
But then, of course, that's going to be offset by some kind of the amortization or recognition of milestones that will be delivered in the next quarter or so. And as you know, earlier this year, we had a fairly large amount of RPO that effectively amortized into revenue from a large deal signed last year. But again, hard to say.
year over year, while our three largest publiccompany competitors by agent count reported decreases of 2%, decreases of 5%, and decrease of 6% in the same period. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. You saw that in Latter & Blum.
Obviously, this was stronger than our guidance of a dollar in accretion and reflects very favorably on the performance of the MSRs we acquired as well as limited exposure to contingent liabilities after extensive diligence. In this scenario, servicing suffers from higher amortization expense. Now, let's turn to Slide 12.
So you'll see the contingent consideration impact in the other income and the IPR&D and the depreciation amortization and other. And there's going to be a less brisk pace of announcements in partnerships as compared to, let's say, 2020, 2021, when we first became a publiccompany. that's what Andrew mentioned.
We've increased our guidance for depreciation and amortization expense and operating expenses by $5 million, reflecting in part the impact of acquired intangible amortization expense from the Foxberry acquisition, which closed in April. Our cash balance remains over $450 million, including readily available cash in the U.S.
Depreciation and amortization was $12 million in the quarter, which is in line with our expectations and previous guidance. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Let's move on to our current thinking around the full year of 2024 on Slide 18.
SG&A expenses, excluding acquisition costs and depreciation and amortization expenses, saw a decline of 3% on a full year basis, inclusive of the significant increase in this year's marketing investments at BioSteel. And, you know, as a former publiccompany CFO, I'm embarrassed that we had a -- you know, that we had to do a restatement.
More importantly, immediate EPS dilution on a GAAP basis is primarily driven by foregone investment income, intangible asset amortization, and acquisition costs. Excluding acquisition costs and intangible amortization, we expect the deal to be immediately accretive to EPS in 2024. The Motley Fool has positions in and recommends Cognex.
I think that the growth in the -- I know that the growth in the Adoor business will come in a so-called co-investment fund alongside our publiccompany where we have about $200 million of equity capital committed to that business. billion, just to give you a sense, is now down to $800 million, it amortizes extremely quick.
This will also help public and corporate leaders to better assess cyber risks and liabilities, so they can develop effective strategies and mitigate potential impacts. It's our entire history as a publiccompany, and we're going to continue with that. And we've also seen, I think, failure of the product methodology.
With over 33,000 agents across the United States, we are able to build upon our technology differentiation and continue to invest by amortizing the cost of our investments over more agents. And our stock-based comp expense in Q2 was the lowest in our history as a publiccompany. The Motley Fool has a disclosure policy.
Despite expanding our operational footprint significantly, quadrupling our closings, and increasing our community count by a factor of nearly seven times, we have never taken an inventory impairment, not as a publiccompany and not as a private company before that. And I just wanted to make sure I had that right as well.
Interest expense, net of interest income between $20 million and $25 million, depreciation and amortization between $45 million and $50 million, stock-based compensation, which we show as a reconciling item from GAAP to non-GAAP EBITDA to be approximately $50 million. The Motley Fool has no position in any of the stocks mentioned.
Depreciation and amortization was flat year to year as a percent of revenue, down $17 million, reflecting continued capital discipline. I know that, as you've mentioned, in the short history of this publiccompany, there have been previous restructurings. SG&A was 8.7% Great question. Thank you.
On a GAAP basis, gross profit was 205 million, up 28%, and operating profit was 41 million, up 6%, including a full quarter of the amortization of the Ceridian trade name, which is, in G&A expenses, at approximately 21 million. Powerpay recurring revenue was 26 million, growing 8% including float and 5% excluding float.
million, representing an 83% adjusted gross profit margin after adjusting for amortization. In Q3, total operating expenses decreased by approximately $2 million year over year, excluding noncash stock based compensation expenses, cost of revenue amortization, and transaction costs. Editorial costs were approximately $4.5
Agent retention remains high as our principal agent quarterly retention was 97%, a number we have consistently reached since becoming a publiccompany in April 2021. And in Q3, we saw the second highest agent retention quarter as a publiccompany. Our GAAP net loss for the fourth quarter was 83.7
Interest expense net of interest income between $16 million and $18 million, depreciation and amortization between $40 million and $42 million. Thank you, that your numbers about right for a small mid publiccompany exposure around 20% of our revenue year to date. Is that a fair interpretation?
GAAP, some of these operational initiatives are requiring the capitalization and amortization of costs that were historically being expense as incurred. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Vince Sadusky -- Chief Executive Officer Yeah.
The primary exclusion in Mobileye's non-GAAP numbers is amortization of intangible assets, which is mainly related to Intel's acquisition of Mobileye in 2017. I'd also like to thank our entire finance team for their professional and tirelessly work since we've become a publiccompany. We also exclude stock-based compensation.
For fiscal 2025, we will have increased capital expenditures due to a higher number of organic new store openings and supply chain investments, and as a result, higher depreciation and amortization. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
Michael Fisch : 00:05:39 [Speaker Changed] Well, in the time that I was working at Goldman Sachs in mergers, there were a bunch of big publiccompanies who were on, we were on m and a retainer, they call it. And the average company, particularly smaller publiccompanies are down, not up even though the stock market’s up.
Our Q4 GAAP gross margin was 67%, and non-GAAP gross margin was 83% after adjusting for the deferred revenue haircut in 2022 and amortizations. million, a net increase of approximately $1 million, largely reflecting the impact of the full-year publiccompany expenses in the acquisition of Dragonfly, offset by in-year cost savings actions.
million representing an 80% gross profit margin after adjusting for amortization. million, an increase of about $2 million year over year, largely due to publiccompany costs. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
Dave, congrats on entering your third year as a publiccompany CFO. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please go ahead.
At GE Vernova, we added seasoned publiccompany CFO, Ken Parks. At insurance, we completed our annual review of liability cash flow assumptions under the new accounting standard. Part of that is amortization. But even if you take amortization out, it's still 130% free cash flow performance. billion of proceeds.
In addition, we incurred more amortization associated with capitalized project costs. In addition, we also encountered more publiccompany costs associated with global compliance and tax. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
We expect 2025 as a full year to exhibit, for the first time in our history as a publiccompany, a strong GAAP profitability as well on top of the continuation of our multiyear strong free cash flow generation. As we report to you today the results for 2024, we are quickly approaching our fourth anniversary as a publiccompany.
Depreciation and amortization ended the year at 48 million, in line with our expectations and previous guidance. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Please let's turn to Slide 11. The Motley Fool has no position in any of the stocks mentioned.
Our asset yields declined 4 basis points compared to a decline in our liability cost of 17 basis points. We also have a hedge portfolio that will begin to amortize in Q3 of this year, at which point, the loans will reset to market rates above the current strike rate based on the forward curve. On the liability side, we have $2.8
When I returned to Herbalife in October of 2022 for the third time as CEO, I promised the board and myself to focus deeply and thoroughly on how we best go about succession and appoint the next CEO of this great company. Herbalife operates in over 90 markets as a publiccompany in the multilevel direct selling business.
Chris Miller joined as CFO and has over 40 years of finance and accounting experience, including 20 years of publiccompany experience in wholesale and retail industries with a great track record of delivering on execution and profitability objectives. So the other component that's impacting EPS is higher depreciation and amortization.
Moving on to margins and profitability, our subscription gross margin was 81.4%, down sequentially due to timing of capitalized software amortization. So, lots of great signs, lots of great signals, not enough for Tod and I to be able to say, "Hey, we're running a publiccompany, let's increase guidance for it," yet.
Specifically, youll need three audited financial statements: Balance sheet: This provides a snapshot of what your business owns (assets) and what you owe (liabilities). To complete your CCA, an advisor will need access to: Your financial statements, to calculate your EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization).
dating back 30 years when Macerich first became a publiccompany. 7 million of the increase in interest expense relates to the amortization of debt mark-to-market, resulting from our various JV interest acquisitions. For the full-year 2024, we signed leases for 3.7 And let's keep in mind, 2023 was a record leasing year for us.
million four-year amortizing term loan maturing February 2028 to replace prior equipment financing that matured in November 2023. Our relationships and experience established over soon to be 25 years as a publiccompany position us to add significant strategic value across many segments of the energy spectrum. times and 0.34
Our total debt to enterprise value was approximately 27%, while our fixed charge coverage ratio, which includes principal amortization and the preferred dividend, is very healthy at 4.4 And there's no private company in our space with the cost or cost of capital and liquidity and balance sheet that we have. They're multipurpose boxes.
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