Third Quarter 2021 Earnings Report
Operating Leverage While Investing in Growth
Non-GAAP Operating Expenses
as % of Revenue¹
UFCF and Non-GAAP Operating Margin
28%
as % of Revenue 1,2
6%
8%
26%
17%
18%
33%
32%
FY20
FY21 YTD
S&M R&D G&A
FY20
25%
22%
FY21 YTD
Unlevered Free Cash Flow (uFCF)
-Non GAAP Operating Margin
Leverage Drivers
·
Economies of scale
Net retention on growing
subscription base
31
¹Non-GAAP operating expenses and margin excludes the effect of stock-based compensation expense-related charges, including employer payroll items on employee stock transactions, amortization of acquired intangibles,
expenses associated with acquisitions, and strategic investments
2Unlevered free cash flow (after-tax) is calculated as operating cash flow less purchases of property and equipment, and is adjusted for interest payments, equity compensation payments, sponsor management fees, legal
settlements, restructuring costs, and executive severance. Please see appendix for reconciliation
Informatica. Proprietary.
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