Revenue and Financial Overview
in
GAAP to Non-GAAP Reconciliations (Continued)
($ in millions)
Q4'21
Q1'22 Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
GAAP general and administrative expense
$41.3
$38.6
$45.4
$40.7
$44.3
$52.8
$49.9
$53.5
$55.1
Stock-based compensation
(6.9)
(7.2)
(7.7)
(7.4)
(7.8)
(8.2)
(9.9)
(9.9)
(9.9)
Non-GAAP general and administrative expense
$34.4
$31.4
$37.7
$33.3
$36.5
$44.6
$40.0
$43.6
$45.2
Non-GAAP general and administrative expense as a percentage of revenue
3.6%
3.3%
3.7%
2.9%
2.8%
3.5%
3.1%
3.3%
3.2%
GAAP gain on IP matter
$(1.2)
$(1.1) $(1.2)
$(1.1)
$(1.2)
$(1.2)
$(1.1)
$(1.1)
$(1.2)
Gain on IP matter
1.2
1.1
1.2
1.1
1.2
1.2
1.1
1.1
1.2
Non-GAAP gain on IP matter
$-
$-
$-
$-
$-
$-
$-
$-
$-
Non-GAAP gain on IP matter as a percentage of revenue
―%
-%
―%
―%
―%
―%
―%
―%
―%
GAAP total operating expense
$520.4
$550.0 $584.0 $601.0
$627.9
$681.0
$718.0
$713.7
$713.8
Stock-based compensation
(49.5)
(49.0)
(50.2)
(50.0)
(50.1)
(51.5)
(59.2)
(58.4)
(57.4)
Amortization of acquired intangible assets
(2.4)
(2.1) (1.9)
(1.5)
(0.6)
(1.1)
(1.0)
(1.0)
(0.9)
Gain on IP matter
1.2
1.1
Non-GAAP total operating expense
$469.7
$500.0
Non-GAAP total operating expense as a percentage of revenue
48.7%
52.4%
1.2
1.1
$533.1 $550.6 $578.4
51.8% 47.9% 45.1%
1.2
1.2
1.1
1.1
1.2
$629.6 $658.9
49.9% 51.0%
$655.4 $656.7
49.1% 46.4%
GAAP operating income
$214.9
$151.0
Stock-based compensation
54.2
53.9
$195.3
55.3
$265.5 $357.8
55.3
55.3
$273.5 $279.0 $303.2
57.0
65.7
$385.4
64.9
64.0
Amortization of acquired intangible assets
6.8
6.4
6.0
5.2
5.7
4.7
4.5
4.4
5.3
Gain on IP matter
(1.2)
(1.1)
(1.2)
(1.1)
(1.2)
(1.2)
(1.1)
(1.1)
(1.2)
Non-GAAP operating income
$274.7 $210.2 $255.4
$324.9
$417.6
$334.0
Non-GAAP operating margin
28.5% 22.0% 24.8% 28.3%
32.5%
26.5%
$348.1 $371.4 $453.5
26.9% 27.8% 32.0%
in
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