| (in millions, except percentages and per share data) | GAAP | Non-GAAP | |||||
| Revenue | $ 2,234.0 | - | $ 2,284.0 | $ 2,234.0 | - | $ 2,284.0 | |
| Revenue Growth Rate | 8.2% | - | 10.6% | 7.8% | - | 10.2% | |
| Revenue Growth Rate — Constant Currency | 8.8% | - | 11.3% | 8.4% | - | 10.9% | |
| Diluted earnings per share | $ 5.31 | - | $ 5.77 | $ 8.34 | - | $ 8.75 | |
| (in millions, except percentages) |
Other Financial
Metrics | ||
| ACV | $ 2,243.0 | - | $ 2,288.0 |
| ACV Growth Rate | 10.4% | - | 12.6% |
| ACV Growth Rate — Constant Currency | 11.0% | - | 13.3% |
| Unlevered operating cash flows | $ 705.0 | - | $ 735.0 |
Our FY 2023 guidance is inclusive of $47.1 million in interest expense. This compares to interest expense in FY 2022 of $22.7 million with the significant increase in FY 2023 driven by the interest rate environment and our floating interest rate on our term loan. Reconciliations of the GAAP to Non-GAAP diluted EPS outlook and the operating cash flow to unlevered operating cash flow outlook are available in our "Reconciliations of GAAP to Non-GAAP Measures" section found later in this document.
In the context of broader U.S. foreign policy shifts, the U.S. Department of Commerce is continuing to apply controls to the export to China of certain technologies. Ansys maintains a robust global compliance program. Compliance and cooperation with the U.S. government’s evolving requirements are paramount to Ansys. Ansys has and will continue to align our internal processes to comply with U.S. export laws and regulations and any changes to those laws and regulations. During the third quarter, the U.S. Department of Commerce informed Ansys of additional restrictions on sales to certain Chinese entities, and incremental approval processes and export restrictions on the sale of certain Ansys products and services to entities performing research & development and certain controlled activities in China. The incremental export restrictions and processes took effect during the third quarter and initially included a broad export license requirement for certain China sales, which was later replaced by an enhanced Ansys screening process that was approved by the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) on the final business day of the quarter. The new restrictions and processes have led to an elongated transaction cycle with certain prospects, which, in turn, is expected to lead to a delay in certain fourth quarter transactions and in some situations, could result in a loss of business. Ansys will continue to work collaboratively with the U.S. Department of Commerce to adhere to the new requirements, and we have internally aligned our business operations to adjust to these requirements.
