Reconciliation of GAAP Net Loss to Adjusted EBITDA

(Unaudited)

(In thousands, except share and per share data)

 
                              Three Months Ended March 31, 
                              ---------------------------------------------- 
                              2023                    2022 
GAAP net loss                 $             (28,859)  $             (25,774) 
     Depreciation and 
      amortization            961                     1,244 
     Stock-based 
      compensation            3,337                   5,032 
     Interest expense         2,626                   1,064 
     Interest income          (1,341)                 (5) 
     Loss (gain) on fair 
      value of warrants (a)   (1,944)                 (2,830) 
                              ----------------------  ---------------------- 
Adjusted EBITDA               (25,220)                (21,269) 
 

_________________

(a) consists of non-cash gain/losses on our outstanding warrants.

VIEWRAY, INC.

Forward-Looking Guidance

Reconciliation of Projected Net Loss to Projected Adjusted EBITDA

(Unaudited)

(In thousands, except share and per share data)

 
                                Twelve Months Ended December 31, 2023 
                                -------------------------------------------- 
                                From                   To 
GAAP net loss                   $           (100,000)  $           (110,000) 
     Depreciation and 
      amortization (a)          4,500                  4,500 
     Stock-based compensation   15,000                 15,000 
     Interest expense           10,500                 10,500 
     Interest income            (3,000)                (3,000) 
     Loss (gain) on fair value 
      of warrants (b)           (2,000)                (2,000) 
                                ---------------------  --------------------- 
Adjusted EBITDA                 (75,000)               (85,000) 
 

_________________

(a) consists of depreciation, primarily on property and equipment as well as amortization of intangibles.

(b) consists of non-cash gain/losses on our outstanding warrants.

View original content:https://www.prnewswire.com/news-releases/viewray-announces-preliminary-first-quarter-2023-results-and-updated-fiscal-year-2023-financial-guidance-company-to-explore-strategic-alternatives-to-maximize-shareholder-value-301796211.html

SOURCE ViewRay, Inc.

/CONTACT: Investor Relations: Matt Harrison, Investor Relations, ViewRay, Inc., 1-844-MRIdian (674-3426), Email: investors@viewray.com; Media Enquiries: Samantha Pfeil, Marketing Communications, ViewRay, Inc., Email: media@viewray.com;

(END) Dow Jones Newswires

April 13, 2023 06:00 ET (10:00 GMT)