|
RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Unaudited, in thousands) | |||||||
| Three Months Ended March 31, | |||||||
| 2024 | 2023 | ||||||
| Gross profit | $ | 252,441 | $ | 258,780 | |||
| Gross margin | 55.1 | % | 57.4 | % | |||
| Adjustments to reconcile gross profit to non-GAAP gross profit: | |||||||
| Stock-based compensation and related expenses* | 1,900 | 1,147 | |||||
| Amortization of acquisition-related intangible assets | 258 | - | |||||
| Deferred compensation plan expense | 440 | 181 | |||||
| Non-GAAP gross profit | $ | 255,039 | $ | 260,108 | |||
| Non-GAAP gross margin | 55.7 | % | 57.7 | % | |||
*Prior period excludes stock-based compensation related employer payroll taxes from non-GAAP measures due to immateriality.
|
RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
(Unaudited, in thousands) | |||||||
| Three Months Ended March 31, | |||||||
| 2024 | 2023 | ||||||
| Total operating expenses | $ | 156,954 | $ | 134,504 | |||
| Adjustments to reconcile total operating expenses to non-GAAP total operating expenses: | |||||||
| Stock-based compensation and related expenses* | (49,869 | ) | (35,862 | ) | |||
| Amortization of acquisition-related intangible assets | (33 | ) | (33 | ) | |||
| Deferred compensation plan expense | (3,626 | ) | (2,604 | ) | |||
| Non-GAAP operating expenses | $ | 103,426 | $ | 96,005 | |||
*Prior period excludes stock-based compensation related employer payroll taxes from non-GAAP measures due to immateriality.
