Almost every silly valley company here in CA is guilty of this nonsense. They use phrases like adjusted EBITDA to just mean profit made without accounting for equity compensation which is actually a write off. You have people making $500K+ in compensation and the company doesn't even account for it. Really this is just straight out fraud but the idiots at the SEC or FASB don't ever do anything about it. Palo Alto Networks is the poster child for this fraud. IN FY2020 their "earnings" was $4.89/share and yet their EBITDA was -$179M. How do you get $4.89 in earnings from a $179 million loss?