Financial Highlights and Guidance
Reconciliation of GAAP to Non-GAAP Data
Three Months Ended July 31, 2023
(in thousands, except percentages and per
share data)
Costs and expenses:
GAAP
Share-Based
Compensation
Expenses
Other Operating
Expenses²
Income Tax and
Non-GAAP
Dilution Effects³
Costs of subscription services
$
255,684 $
(29,988) $
(14,688)
$
Costs of professional services
192,416
(28,754)
(1,425)
Product development
609,677
(161,975)
(4,543)
Sales and marketing
524,186
(66,632)
(11,035)
General and administrative
168,546
(64,563)
(1,572)
| | | | |
$
211,008
162,237
443,159
446,519
102,411
Operating income (loss)
36,257
351,912
33,263
Operating margin
2.0 %
19.7 %
1.9 %
421,432
%
23.6 %
Other income (expense), net
45,555
45,555
Income (loss) before provision for (benefit from)
81,812
351,912
33,263
466,987
income taxes
Provision for (benefit from) income taxes
3,152
85,575
88,727
Net income (loss)
Net income (loss) per share, basic¹
Net income (loss) per share, diluted1
1.
2.
67 6969
$
78,660 $
$
$
0.30
0.30 $
$
1.33
351,912 $
1.35 $
$
0.13
33,263 $
$
(85,575) $
(0.33) $
378,260
1.45
0.13
$
(0.33) $
1.43
3.
GAAP and non-GAAP net income per share are both calculated based upon 261,191 basic and 264,435 diluted weighted-average shares of common stock.
Other operating expenses include amortization of acquisition-related intangible assets of $21.2 million and employer payroll tax-related items on employee stock
transactions of $12.1 million.
We utilize a fixed long-term projected tax rate in our computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For
fiscal 2024, the non-GAAP tax rate is 19%.View entire presentation