Investor Presentaiton
Reconciliation of GAAP to Non-GAAP Consolidated Statements of Operations (Unaudited)
(in thousands, except per share amounts)
Revenue
GAAP
Three Months Ended June 30, 2023
Stock-based
compensation
expense
Amortization of
intangibles from
business
combinations
Employee
Acquisition and
disposition-related
severance
Security Incident-
related costs, net
of insurance (1)
Non-GAAP
adjustments
subtotal
costs
Non-GAAP
Recurring
One-time services and other
Total revenue
$
262,390
$
8,652
271,042
$
$
Cost of revenue
Cost of recurring
113,926
Cost of one-time services and other
7,549
(3,559)
(584)
(12,790)
(22)
(346)
(32)
Total cost of revenue
121,475
(4,143)
(13,136)
(54)
Gross profit
149,567
$
$
$
$
262,390
8,652
271,042
(16,371)
(962)
97,555
6,587
(17,333)
104,142
4,143
13,136
54
17,333
166,900
Recurring gross margin
56.6 %
One-time services and other gross margin
12.7 %
Total gross margin
55.2 %
6.2%
62.8 %
11.2 %
23.9 %
6.4 %
61.6 %
Operating expenses
Sales, marketing and customer success
53,191
(7,193)
Research and development
36,146
(7,605)
General and administrative
59,148
(14,423)
| | |
(453)
(7,646)
45,545
(2)
(7,607)
28,539
(123)
849
(26,777)
(40,474)
18,674
Amortization
788
(788)
-
(788)
Total operating expenses
149,273
(29,221)
(788)
(578)
849
(26,777)
(56,515)
92,758
Income from operations
294
33,364
13,924
632
(849)
26,777
73,848
74,142
Total operating margin
0.1 %
27.3 %
27.4 %
Net Income
$
Shares used in computing diluted earnings per share
Diluted earnings per share
$
2,105
53,643
0.04
$
52,602
53,643
$
0.98
32
b➤
(1) Includes Security Incident-related costs incurred, net of insurance recoveries. Recorded expenses consisted primarily of payments to third-party service providers and consultants, including legal fees, as well as settlements of customer claims and accruals
for certain loss contingencies. Not included in this adjustment were costs associated with enhancements to our cybersecurity program.View entire presentation