HashiCorp Investor Day Presentation Deck
40
GAAP to Non-GAAP
($'s in Millions)¹
Total Revenue
Sales and marketing (S&M) expense on a GAAP basis
Less: Stock-based compensation expensel
Less: Amortization of acquired intangibles
Non-GAAP S&M expense
Non-GAAP S&M expense as a % of total revenue
Research and development (R&D) expense on a GAAP basis
Less: Stock-based compensation expense¹
Non-GAAP R&D expense
Non-GAAP R&D expense as a % of total revenue
General and Administrative (G&A) expense on a GAAP basis
Less: Stock-based compensation expense¹
Less: Acquisition-related expenses
Non-GAAP G&A expense
Non-GAAP G&A expense as a % of total revenue
Q1
$ 44.3 $
$
$
$
$
$
$
32.9
0.6
$
S
$ 14.1
32.0%
S
$
32.2
73.0%
$
$
14.5 $
0.4 $
6.6
15.0%
FY2021
Q2
Q3
50.5 $ 55.2 $
43.1 $
9.5
$
$
$ 33.6
66.0%
$ 15.1
30.0%
7.3 $
0.7
$
$
$ 6.8
19.8 $
4.7 $
25.5
18.7
$
13.0%
$
$
$
31.9
0.6
$
$
$
$
31.3 $ 32.6
57.0%
53.0%
0.4 $ 0.4
$ 14.6 $ 15.4
26.0% 25.0%
7.3 $
0.6
$
$ 6.7
12.0%
Q4
61.8
$
33.2
0.6
$
Reconciliations
15.1 $ 15.9 $ 65.2
$ 6.0
$ 59.3
28.0%
8.5
0.5
FY2021
7.9
13.0%
211.9
$ 141.0
$
11.3.
$ 129.7
61.0%
$ 48.5
$20.6
$
$ 27.9
13.0%
QI
$ 66.9 S
$
$
$
$ 38.9
$
$
$ 0.7 $
$
$38.2 $ 49.5
57.0% 66.0%
$
$
S
Q2
$
FY2022
Q3
Q4
75.1 $ 82.2 $ 96.6
50.0
0.5
53.5 $ 127.1
0.5 $ 63.2
$
$ 63.9
66.0%
$ 53.0
64.0%
18.1 $ 24.9
$ 25.7 $ 96.3
0.4 $ 0.4 $ 0.4 $66.6
17.7 $ 24.5 $ 25.3 $ 29.7
26.0% 33.0% 31.0% 31.0%
12.6 $
0.5 $
12.4 $
0.5 $
$
$
12.2 $ 11.9 $ 13.1 $ 21.1
18.0% 16.0% 16.0% 22.0%
13.5 $ 73.6
0.4
$ 52.5
$
FY2022
$ 269.5
64.9
$ 204.6
64.0%
320.8
Ś 165.0
$ 67.9
97.1
30.0%
$
$
$
$
$
112.1
53.8
58.3
18.0%
Q1
$ 100.9
FY2023
Q2
Q3
Q4
$ 113.9 $ 125.3 $ 135.8
$ 95.0
14.0
$ 80.3 $ 87.7
$ 14.4 $ 14.4
$
$
$
$
$
$65.9 $ 73.3 $ 77.5 $ 81.0
65.3% 64.4% 61.9% 59.6%
$ 47.2 $ 47.9
$ 14.7 $ 10.5
$32.4 $ 37.4
32.2% 32.8%
$ 92.9
15.4
$ 32.5
$
$
$ 18.7 $ 21.5
18.6%
18.8%
53.9 $ 46.4
S 15.0 S 6.0
$ 38.9 $ 40.4
31.0% 29.8%
$ 35.4 $
13.8 $ 13.9 $
$
S
33.4
$ 33.7
12.7 $ 12.5
$
$ 20.7 $ 21.2
16.5% 15.6%
FY2023
$ 475.9
$ 355.9
$ 58.2
$
$ 297.7
62.5%
$195.4
$ 46.2
$ 149.1
313%
$ 135.0
$ 52.9
$
$ 82.1
17.3%
FY2024
Q1
92
$138.0 $ 143.2
$
$ 90.6 $ 101.1
$ (120) $ (15.4)
$ (0.1)
$ 78.6 $ 85.6
57.0% 59.8%
$
54.2 $ 60.0
$
(118) $ (13.0)
$ 42.5 $ 47.1
30.8%
32.9%
$ 34.3 $ 35.5
$ (13.0) $ (13.7)
$
$ (0.5)
$ 21.3 $ 21.3
14.8%
15.4%
1. In connection with tender offers and secondary sales of our common stock, stock-based compensation expense for fiscal 2020 and fiscal 2021, included $1.5 million and $32.1 million of expense, respectively, related to the amount paid in excess of the
estimated fair value of common stock as of the date of the transactions.
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