18. Segment information The Company through its wholly-owned subsidiary has one operating segment which is engaged in the investment management and financial advisory business and derives its revenue from investment management services, other investment advisory services and financial research. The Companys corporate operations are not considered an operating segment and the Company does not allocate corporate expense for management and administrative services or income and expense related to other corporate activity to its operating segment to measure its operations. The Companys management utilizes adjusted EBITDA to measure segment performance. Adjusted EBITDA is a measure defined as EBITDA before corporate expense, equity based compensation, , amortization of stay and retention bonuses, relocation and severance costs and non-operating income (expense). EBITDA is a measure defined as earnings (loss) before interest, taxes, depreciation and amortization Adjusted EBITDA is a non-GAAP measure and should not be construed as an alternative to operating loss or net loss as an indicator of the Company?s performance, or as an alternative to cash used in operating activities, or as a measure of liquidity, or as any other measure determined in accordance with GAAP. Following is a reconciliation of adjusted EBITDA of the operating segment to loss from continuing operations before income taxes (in thousands): Year ended December 31, 2015 2014 Adjusted EBITDA (income/(loss)) of operating segment $ 366 $ (335 ) Other operating expenses: Corporate (1,629 ) (1,833 ) Depreciation and amortization (652 ) (659 ) Equity based compensation (446 ) (330 ) Amortization of stay and retention bonuses (135 ) (133 ) Relocation and severence costs (64 ) (34 ) Operating loss (2,560 ) (3,324 ) Non- operating income (expense): Interest expense and other, net (170 ) (56 ) Gain on sale of investment in MXL - 719 Change in fair value of contingent consideration 336 (66 ) Loss from continuing operations before income taxes $ (2,394 ) $ (2,727