ACUIF - AcuityAds Holdings Inc.: Prime Case Study In EBITDA 'Inflation'

• In a prime example of adjusted EBITDA inflation AcuityAds reported YTD number would drop an astonishing 60% from $8mm to $3mm if "old school" calculations were employed.
• IFRS 16 has inadvertently created a monster by causing increases in Depreciation and Amortization numbers that make it way too convenient for management teams to boost EBITDA numbers.
• EBITDA is not regulated by IFRS or GAAP, and many companies are taking so many liberties in their methodologies that the metric is losing its value.

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