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Insert Title Earnings

RF INDUSTRIES, LTD. AND SUBSIDIARIES
Unaudited Reconciliation of GAAP to Non-GAAP Net Income
(In thousands, except share and per share amounts)

Three Months Ended Fiscal Year Ended
October 31, October 31,
2023 2022 2023 2022
Consolidated net (loss) income
$ (851 ) $ 451 $ (3,078 ) $ 1,448
Stock-based compensation expense
211 191 898 689
Acquisition-related and other one-time charges
150 440 851 2,017
Severance
- - 75 45
Amortization expense
422 432 1,701 1,282
Non-GAAP net (loss) income
$ (68 ) $ 1,514 $ 447 $ 5,481

Non-GAAP earnings per share:
Basic
$ (0.01 ) $ 0.15 $ 0.04 $ 0.54
Diluted
$ (0.01 ) $ 0.15 $ 0.04 $ 0.54

Weighted average shares outstanding
Basic
10,330,325 10,178,081 10,283,449 10,120,254
Diluted
10,330,325 10,272,287 10,283,449 10,242,417

RF INDUSTRIES, LTD. AND SUBSIDIARIES
Unaudited Reconciliation of Net Income to Adjusted EBITDA
(In thousands)

Three Months Ended Fiscal Year Ended
October 31, October 31,
2023 2022 2023 2022
Consolidated net (loss) income
$ (851 ) $ 451 $ (3,078 ) $ 1,448
Stock-based compensation expense
211 191 898 689
Acquisition-related and other one-time charges
150 440 851 2,017
Severance
- - 75 45
Amortization expense
422 432 1,701 1,282
Depreciation expense
216 104 732 408
Other expense
110 321 453 601
(Benefit) provision for income taxes
(366 ) (57 ) (1,172 ) 139
Adjusted EBITDA
$ (108 ) $ 1,882 $ 460 $ 6,629



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