Guidance: Positive Adjusted EBITDA for the yearAdjusted EBITDA results to date:
Q1: -$5.190M
Q2: +$3.901M
YTD: -$1.289
Based on the results todate and the indicated trend line per the results call, it would seem that QTRH has cleverly set up a news story, possibly as early as Q3, that the full year guidance on Adjusted EBITDA has been reached early. This in turn allows the corporate town crier to proclaim further positive results in Q4. Well done!
Definition of Adjusted EBITDA from the current MD&A. “Adjusted EBITDA” to mean net (loss) income adjusted for:
(i) income taxes;
(ii) finance expense or income;
(iii) amortization and impairment of intangibles;
(iv) other charges and other one-time items;
(v) depreciation of right-of-use assets and property, plant and equipment;
(vi) stockbased compensation;
(vii) foreign exchange (gain) loss;
(viii) other income which includes equity in earnings from joint ventures; and
(ix) dividends received from joint ventures