Segment Information (Tables)
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9 Months Ended |
Sep. 30, 2021 |
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| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] |
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| Schedule of Reconciliation of Adjusted EBITDA to Income (Loss) Before Income Taxes |
Below is a reconciliation of EBITDA to income (loss) before income taxes.
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Three Months Ended |
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Nine Months Ended |
(in thousands) |
September 30,
2021 |
|
September 30,
2020 |
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September 30,
2021 |
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September 30,
2020 |
Income (loss) before income taxes |
$ |
(21,341) |
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$ |
(602) |
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$ |
(31,770) |
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$ |
(1,819) |
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Interest expense |
1,586 |
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— |
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1,606 |
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— |
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Depreciation, amortization and accretion |
3,142 |
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34 |
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|
4,077 |
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|
101 |
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EBITDA |
$ |
(16,613) |
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$ |
(568) |
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$ |
(26,087) |
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$ |
(1,718) |
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| Schedule of Segment Reporting Information, by Segment |
The following summarizes selected financial information for the Company’s reporting segments:
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(in thousands) |
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RNG |
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Power |
|
Corporate and Other |
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Total |
| Three months ended September 30, 2021 |
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Revenue |
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$ |
5,963 |
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$ |
5,158 |
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$ |
865 |
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$ |
11,986 |
Intersegment revenue |
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— |
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12 |
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(12) |
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— |
Total revenue |
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$ |
5,963 |
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$ |
5,170 |
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$ |
853 |
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$ |
11,986 |
Net income (loss) |
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$ |
28 |
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$ |
(320) |
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$ |
(21,049) |
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$ |
(21,341) |
EBITDA |
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$ |
1,916 |
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$ |
884 |
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$ |
(19,413) |
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$ |
(16,613) |
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| Nine months ended September 30, 2021 |
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Revenue |
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$ |
6,785 |
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$ |
7,395 |
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$ |
4,588 |
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$ |
18,768 |
Intersegment revenue |
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— |
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12 |
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(12) |
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— |
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Total revenue |
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$ |
6,785 |
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$ |
7,407 |
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$ |
4,576 |
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$ |
18,768 |
Net income (loss) |
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$ |
(1,538) |
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$ |
(2,150) |
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$ |
(28,082) |
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$ |
(31,770) |
EBITDA |
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$ |
585 |
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$ |
(316) |
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$ |
(26,356) |
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$ |
(26,087) |
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| September 30, 2021 |
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Goodwill |
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$ |
27,011 |
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$ |
— |
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$ |
— |
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$ |
27,011 |
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| Three months ended September 30, 2020 |
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Revenue |
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$ |
— |
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$ |
— |
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$ |
1,904 |
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$ |
1,904 |
Intersegment revenue |
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— |
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— |
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— |
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— |
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Total revenue |
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$ |
— |
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$ |
— |
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$ |
1,904 |
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$ |
1,904 |
Net income (loss) |
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$ |
(19) |
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$ |
(5) |
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$ |
(578) |
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$ |
(602) |
EBITDA |
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$ |
(19) |
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$ |
(5) |
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$ |
(544) |
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$ |
(568) |
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| Nine months ended September 30, 2020 |
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Revenue |
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$ |
34 |
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$ |
— |
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$ |
4,462 |
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$ |
4,496 |
Intersegment revenue |
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— |
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— |
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— |
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— |
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Total revenue |
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$ |
34 |
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$ |
— |
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$ |
4,462 |
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$ |
4,496 |
Net income (loss) |
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$ |
(102) |
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$ |
(5) |
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$ |
(1,712) |
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$ |
(1,819) |
EBITDA |
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$ |
(102) |
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$ |
(5) |
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$ |
(1,611) |
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$ |
(1,718) |
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| December 31, 2020 |
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Goodwill |
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$ |
2,754 |
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$ |
— |
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$ |
— |
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$ |
2,754 |
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| Aria Energy LLC |
|
| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] |
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| Schedule of Segment Reporting Information, by Segment |
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| For the year-to-date period ended September 14, 2021 |
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| (in thousands) |
RNG |
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Power |
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Corporate and Other |
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Total |
| Net income (loss) |
$ |
59,066 |
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$ |
66,431 |
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$ |
(40,977) |
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$ |
84,520 |
| Depreciation, amortization and accretion |
6,447 |
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9,467 |
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34 |
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15,948 |
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| Interest expense |
— |
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— |
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10,729 |
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10,729 |
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| EBITDA |
$ |
65,513 |
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$ |
75,898 |
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$ |
(30,214) |
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$ |
111,197 |
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| Amortization of intangibles and below-market contracts |
2,516 |
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|
177 |
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— |
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2,693 |
| Gain on disposal of assets |
— |
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(1,347) |
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— |
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(1,347) |
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| Net derivative activity |
(1,129) |
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— |
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— |
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(1,129) |
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| Debt forbearance costs |
— |
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— |
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|
990 |
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|
990 |
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| Gain on extinguishment of debt |
— |
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(61,411) |
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— |
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(61,411) |
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| Costs related to sale of equity |
— |
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— |
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18,629 |
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|
18,629 |
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| Adjusted EBITDA |
$ |
66,900 |
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$ |
13,317 |
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$ |
(10,595) |
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$ |
69,622 |
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| For the nine months ended September 30, 2020 |
| (in thousands) |
RNG |
|
Power |
|
Corporate and Other |
|
Total |
| Net income (loss) |
$ |
19,308 |
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$ |
(161) |
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$ |
(25,218) |
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$ |
(6,071) |
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| Depreciation, amortization and accretion |
6,729 |
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|
16,592 |
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|
60 |
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23,381 |
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| Interest expense |
— |
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— |
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|
14,429 |
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|
14,429 |
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| EBITDA |
$ |
26,037 |
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$ |
16,431 |
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$ |
(10,729) |
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$ |
31,739 |
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| Amortization of intangibles and below-market contracts |
2,674 |
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|
78 |
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— |
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$ |
2,752 |
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| Net derivative activity |
61 |
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— |
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— |
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61 |
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| Debt forbearance costs |
— |
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— |
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|
907 |
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|
907 |
| Costs related to sale of equity |
— |
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— |
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|
196 |
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|
196 |
| Adjusted EBITDA |
$ |
28,772 |
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$ |
16,509 |
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$ |
(9,626) |
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$ |
35,655 |
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