Q1 2021 Business Update

Financial Update 03 In Q1 2021, our adjusted gross margin grew to 83% - and contribution margin grew to 60%. Adjusted gross margin Fig 11 85% 80% 75% 70% 75% Q1 2020 83% Contribution margin Fig 12 60% о 55% Q1 2021 50% 45% 40% 41% Q1 2020 Adjusted gross margin excludes stock-based compensation. Contribution margin is defined as revenue less cost of revenue and sales and marketing expenses, excluding stock-based compensation, divided by revenue. Adjusted gross margin and contribution margin are non-GAAP financial measures. Please see the appendix for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures. 60% Q1 2021

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