Ironclad Fabrication On track
Metal fabrication · Senior loan · $18.0M deployed · Last report Oct 9
Performance
Last 12 months’ revenue, monthly.
$66.0M
+3.1% vs budget
(Revenue − cost of goods) ÷ revenue, last 12 months. New, added by Your Cohort
24.5%
+0.7 pts vs budget
Last 12 months’ EBITDA after approved adjustments, monthly.
$9.8M
+6.0% vs budget
Adj. EBITDA ÷ revenue.
14.8%
Budget 14.4%
Results vs budget and last year
As of Sep 30 · monthly
| Last 12 months | Actual | Budget | vs budget | Last year |
|---|---|---|---|---|
| Revenue | $66.0M | $64.0M | +3.1% | $61.7M |
| Gross margin | 24.5% | 23.8% | +0.7 pts | 23.1% |
| Operating costs | $6.4M | $6.4M | −0.8% | $6.6M |
| Adj. EBITDA | $9.8M | $9.2M | +6.0% | $8.8M |
From reported to adjusted EBITDA
What was added back, and why
Last 12 months · $M
- Reported EBITDA$9.0M
- + Plant expansion costs (one-time)$0.4M
- + Owner pay normalized to market$0.2M
- + Non-cash stock pay$0.2M
- Adjusted EBITDA$9.8M
Reported and adjustedAdded back
| Step | Amount | Running total |
|---|---|---|
| Reported EBITDA | $9.0M | $9.0M |
| Plant expansion costs (one-time) | +$0.4M | $9.4M |
| Owner pay normalized to market | +$0.2M | $9.6M |
| Non-cash stock pay | +$0.2M | $9.8M |
| Adjusted EBITDA | $9.8M | $9.8M |
Adjustments are 8% of the total. The expansion costs stop after this year.
Turnaround plan
Not needed. The company is on plan; Your Cohort reviews it monthly.
New marks a measure Your Cohort adds to Thorne’s reporting · fictional companies and figures · thresholds are placeholders · select or hover any dotted label for its definition