RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Unaudited, in thousands)
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| Gross profit | $ | 164,215 | $ | 102,593 | $ | 305,274 | $ | 194,040 | ||||||||
| Gross margin | 56.0 | % | 55.1 | % | 55.7 | % | 55.1 | % | ||||||||
| Adjustments to reconcile gross profit to non-GAAP gross profit: | ||||||||||||||||
| Stock-based compensation expense | 885 | 642 | 1,700 | 1,199 | ||||||||||||
| Deferred compensation plan expense | 130 | 460 | 291 | 406 | ||||||||||||
| Non-GAAP gross profit | $ | 165,230 | $ | 103,695 | $ | 307,265 | $ | 195,645 | ||||||||
| Non-GAAP gross margin | 56.3 | % | 55.7 | % | 56.1 | % | 55.6 | % | ||||||||
