Investor Presentaiton
Long term financial targets
2026
2022
Q1'23
Q2'23
Q3'23 Q4'23 2023
Target Model¹
Long Term
Target Model¹
Gross Margin 83%
84%
85%
85%
86%
85%
84%
81% - 83%
R&D
19%
19%
20%
19%
19%
19%
20%
20%
% of revenue
S&M
45%
44%
43%
42%
43%
43%
36% -38%
30% - 35%
% of revenue
G&A
9%
8%
8%
8%
8%
8%
8%
8%
% of revenue
Operating
Margin
10%
13%
14%
16%
17%
15%
18% - 20%
20%-25%
1 These estimates reflect our current operating plan as of February 14, 2024 and are subject to change as future events and opportunities arise. All percentages are non-GAAP and
exclude expenses associated with stock-based compensation, amortization of acquired intangibles and acquisition related expenses. Percentages are based on actual values. Totals
may not sum due to rounding. Please refer to appendix for a reconciliation of GAAP to non-GAAP figures.
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