Investor Presentaiton
Reconciliation of GAAP to Non-GAAP Consolidated Statements of Operations (Unaudited)
Nine Months Ended September 30, 2020
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Amortization of
(in thousands, except per share amounts)
GAAP
Stock-based
Compensation
Expense
Intangibles from
Business
Combinations
Employee
Severance
Revenue
Recurring
$
621,229 $
$
One-time services and other
49,384
Total revenue
670,613
Cost of revenue
Cost of recurring
265,172
(3,229)
(27,289)
(350)
Cost of one-time services and other
43,317
(3,894)
(2,546)
(463)
Total cost of revenue
308,489
(7,123)
(29,835)
(813)
7,123
29,835
813
Acquisition-related
Integration Costs
Acquisition-related
Expenses
Restructuring and
Other Real
Estate Activities
Non-GAAP
Adjustments
Subtotal
Non-GAAP
$
621,229
49,384
670,613
(30,868)
234,304
(6,903)
36,414
(37,771)
270,718
37,771
399,895
Gross profit
362,124
Recurring gross margin
57.3%
One-time services and other gross margin
12.3 %
5.0 %
62.3 %
14.0 %
26.3%
5.6 %
59.6 %
Total Gross Margin
54.0%
Operating expenses
Sales, marketing and customer success
159,149
(10,085)
Research and development
72,655
(11,245)
General and administrative
89,829
(26,103)
| | |
(1,901)
(11,986)
147,163
(687)
(11,932)
60,723
(1,192)
118
(288)
(6,838)
(34,303)
55,526
Amortization
Restructuring
Total operating expenses
2,219
(2,219)
(2,219)
179
(179)
(179)
324,031
(47,433)
(2,219)
(3,780)
118
(288)
(7,017)
(60,619)
263,412
Income from operations
Total Operating Margin
38,093
54,556
32,054
4,593
(118)
288
7,017
98,390
136,483
14.7 %
20.4%
5.7 %
Net Income
$
21,338
Shares used in computing diluted earnings per share
48,582
Diluted earnings per share
$
0.44
$
101,341
48,582
$
2.09
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