Tradeweb Results Presentation Deck
12
Adjusted Expenses¹ Detail
($ in thousands)
1Q22 EXPENSES INCREASED 14.6% (17.1% CC y/y)²
Adjusted Expenses
Employee compensation and benefits a
Depreciation and amortization b
Technology and communications
General and administrative
Professional feesd
Occupancy
Total adjusted non-compensation expenses
Total Adjusted Expenses
1Q22
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114,122
12,681
15,776
9,581
7,875
3,497
49,410
163,532
$
$
1Q21
97,239
11,363
13,544
8,812
7,967
3,753
45,439
142,678
%A
1Q22 vs 1Q21
17.4%
11.6 %
16.5 %
8.7 %
(1.2)%
(6.8)%
8.7 %
14.6%
0000
Tradeweb
%A Constant Currency
1Q22 vs 1Q21
17.9 %
12.0%
16.8 %
44.3 %
(0.1)%
(5.6)%
15.2 %
17.1 %
1. Adjusted Expenses is a non-GAAP financial measure. See "Appendix" for a reconciliation to its most comparable GAAP financial measure.
a. Adjusted to exclude: Non-cash stock-based compensation expense associated with the Special Option Award and post-IPO options awarded in 2019 and the payroll taxes associated with exercises of such options during the
applicable period; Non-cash accelerated stock-based compensation expense associated with our former CFO and our retiring CEO and related payroll taxes. See "Appendix" for additional information.
b. Adjusted to exclude acquisition and Refinitiv Transaction related depreciation and amortization. See "Appendix" for additional information.
c. Adjusted to exclude unrealized gains/losses from outstanding foreign exchange forward contracts and gains and losses from the revaluation of foreign denominated cash. See "Appendix" for additional information.
d. Adjusted to exclude transaction and other costs related to the NFI Acquisition, which closed in June 2021. See "Appendix" for additional information.
2. Growth information presented on a "constant currency" basis reflects growth for the period excluding the impact of foreign currency fluctuations. See "Disclaimers - Non-GAAP Financial Measures" for more information.View entire presentation