Montrose Q2 rev $139.9M; revises Adj EBITDA calculation, lowers FY 2022 guidance to $68-73M

Onterris, Inc.

2023-Q2 EPS reported -$0.79 revenue$274,590,000

Revenue $139.9M (+2.7% YoY); net loss $(7.8M) ($0.40 loss per share).
Adjusted Net Income $5.4M ($0.04 per share) vs $4.8M prior year.
Consolidated Adj EBITDA (new method) $15.6M vs $19.8M; FY guidance revised to $68-73M from $73-78M due to no longer adding back startup costs.
Reaffirms FY 2022 revenue guidance $520-570M; CTEH COVID-related services declining.
Acquired TriAD Environmental Consultants in August; liquidity $223.4M including $98.4M cash.

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