The following table provides a reconciliation of Free Cash Flow to net cash provided by operating activities, the most comparable GAAP financial measure:
| (Unaudited) | ||||||||||||||||
|
Three Months Ended
June 30, |
Six Months Ended
June 30, | |||||||||||||||
| (in thousands) | 2022 | 2021 | 2022 | 2021 | ||||||||||||
| Net cash provided by operating activities (1) | $ | 12,255 | $ | 18,151 | $ | 18,041 | $ | 54,722 | ||||||||
| Capital expenditures | (1,267 | ) | (2,352 | ) | (3,457 | ) | (5,391 | ) | ||||||||
| Free cash flow (1) | $ | 10,988 | $ | 15,799 | $ | 14,584 | $ | 49,331 | ||||||||
(1) The six months ended June 30, 2022, includes a $65.9 million payment in January 2022 for a legal judgement acquired in December 2021.
The following table provides a reconciliation of Non-GAAP gross profit to gross profit, the most comparable GAAP financial measure:
| (Unaudited) | ||||||||||||||||
|
Three Months Ended
June 30, |
Six Months Ended
June 30, | |||||||||||||||
| (in thousands) | 2022 | 2021 | 2022 | 2021 | ||||||||||||
| Gross profit | $ | 103,133 | $ | 87,966 | $ | 231,311 | $ | 204,707 | ||||||||
| Stock-based compensation expense | 2,030 | 1,222 | 3,933 | 2,380 | ||||||||||||
| Restructuring expense | — | 161 | — | 936 | ||||||||||||
| Non-GAAP gross profit | $ | 105,163 | $ | 89,349 | $ | 235,244 | $ | 208,023 | ||||||||
| Non-GAAP gross margin | 79.3 | % | 74.5 | % | 80.4 | % | 77.0 | % | ||||||||
The following table provides a reconciliation of Non-GAAP operating expense to Total operating expense, the most comparable GAAP financial measure:
