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Devin LaSarre's avatar

Loved this piece.

No number should be taken at face value. With that said, I actually quite like adjusted EBITDA and the like! I like looking at how companies report non-GAAP numbers in an effort to understand how they think about business. Not always malicious. Of course, it's imperative to make your own adjustments and compare to GAAP, non-GAAP, etc. It's one of the best ways to contextually understand all of the levers of value creation and identify what the company is most sensitive to.

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Javier Pérez's avatar

Hi Devin! I agree :)

I tend to be quite harsh to Adj EBITDA, but as you mention, it depends and it is interesting to see how the management look at the key levers of value creation. Not always malicious (but quite often :P)

I am working on keeping my mind more open :)

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