ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN Three months ended March 31, (Unaudited and $ in 000’s) 2023 2022 Net (loss) income, as reported $(440) $3,369 Interest expense 1,206 1,776 Income tax (benefit) expense (13) 96 Depreciation expense 951 349 Amortization of cloud-based software implementation costs 124 0 Showroom pre-opening expense 1,772 475 Equity-based compensation expense 2,258 2,104 Other (income) expense, net1 (843) 59 Transaction costs & other expense2 532 146 Adjusted EBITDA $5,547 $8,374 Net (loss) income margin (0.5)% 3.4% Adjusted EBITDA margin 5.7% 8.4% 1. Other income (expense), netconsists primarily of interest and other miscellaneous income, partially offset by expenses such as losses on exchange rates on consumer payments. 2. These expenses are those that we did not incur in the normal course of business. 16
2023 First Quarter Financial Results | Carousel Page 15 