Contribution Margin Actual vs Outlook
GAAP to Non-GAAP Reconciliations
($ in millions)
Q1
Fiscal 2021
Q2
Q3
Q4
Fiscal 2022
Total
Q1
Reconciliation of Contribution
Revenue
Less: cost of revenue
Amortization of intangible assets
Stock-based compensation expense
$
609.0 $
(412.0)
765.0
(346.9)
$
864.4
$
969.9 $
3,208.3
$
875.6
(392.2)
(551.2)
(1,702.3)
(440.3)
2.8
3.2
2.8
2.3
11.0
1.2
8.4
10.2
10.2
10.7
39.5
9.9
Payroll tax expense related to stock-based compensation
1.1
0.3
0.2
0.2
1.8
0.8
Changes to the liabilities for insurance required by regulatory agencies attributable to
historical periods
128.0
122.3
250.3
Net amount from claims ceded under the Reinsurance Agreement¹
Transaction costs rel. to certain legacy auto insurance liabilities
28.2
24.6
52.8
55.3
20.2
20.2
Sublease income²
Restructuring charges
Contribution (Non-GAAP)
Contribution Margin (Non-GAAP)
(1)
(2)
Note:
$
337.3
55.4%
$
452.0
$
59.1%
513.6
59.4%
$
578.8
$
59.7%
1,881.6
58.6%
$
502.5
57.4%
Reflects the net amount recognized on the statement of operations associated with claims ceded under the Reinsurance agreement, including any losses related to the deferral of gains on the statement of operations and any benefit from the
amortization of the deferred gain in the same period. For transparency, to help investors understand the ultimate economic benefit of the Reinsurance Agreement, we have broken out "Net amount of claims ceded under the Reinsurance
Agreement," which would otherwise have been captured in "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods."
For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a
contra-expense to the related lease rent expense. There has been no sublease income allocated to cost of revenue through March 31, 2022.
Due to rounding, numbers presented may not add up precisely to the totals provided.
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