Sign In  |  Register  |  About Corte Madera  |  Contact Us

Corte Madera, CA
September 01, 2020 10:27am
7-Day Forecast | Traffic
  • Search Hotels in Corte Madera

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Samsara Reports First Quarter Fiscal Year 2025 Financial Results

  • Q1 revenue of $280.7 million, representing 37% year-over-year growth
  • Ending ARR of $1.176 billion, representing 37% year-over-year growth
  • 1,964 customers with ARR over $100,000, up 43% year-over-year

Samsara Inc. (NYSE: IOT), the pioneer of the Connected Operations Cloud, reported financial results for the first quarter ended May 4, 2024, and released a shareholder letter accessible from the Samsara investor relations website at investors.samsara.com.

“We delivered a strong first quarter of the new fiscal year with Q1 revenue of $280.7 million, growing 37% year-over-year, the same year-over-year adjusted revenue growth (1) as last quarter at a larger scale,” said Sanjit Biswas, CEO and co-founder of Samsara. “As the strategic partner to the world’s leading and most complex physical operations organizations, we are focused on delivering clear and fast ROI for our customers and improving their operations.”

First Quarter Fiscal Year 2025 Financial Highlights

(In millions, except percentage, percentage points, and per share data)

 

Q1 FY2025

 

Q1 FY2024

 

Y/Y Change

Annual Recurring Revenue (ARR)

$

1,175.7

 

 

$

856.2

 

 

 

37

%

Total revenue

$

280.7

 

 

$

204.3

 

 

 

37

%

GAAP gross profit

$

212.1

 

 

$

146.8

 

 

$

65.3

 

GAAP gross margin

 

76

%

 

 

72

%

 

4 pts

Non-GAAP gross profit

$

215.9

 

 

$

149.7

 

 

$

66.2

 

Non-GAAP gross margin

 

77

%

 

 

73

%

 

4 pts

GAAP operating loss

$

(66.0

)

 

$

(75.8

)

 

$

9.8

 

GAAP operating margin

 

(24

%)

 

 

(37

%)

 

14 pts

Non-GAAP operating income (loss)

$

6.2

 

 

$

(19.0

)

 

$

25.2

 

Non-GAAP operating margin

 

2

%

 

 

(9

%)

 

12 pts

GAAP net loss per share, basic and diluted

$

(0.10

)

 

$

(0.13

)

 

$

0.03

 

Non-GAAP net income (loss) per share, basic and diluted

$

0.03

 

 

$

(0.02

)

 

$

0.05

 

Net cash provided by operating activities

$

23.7

 

 

$

10.5

 

 

$

13.2

 

Net cash provided by operating activities margin

 

8

%

 

 

5

%

 

3 pts

Adjusted free cash flow

$

18.6

 

 

$

(2.2

)

 

$

20.8

 

Adjusted free cash flow margin

 

7

%

 

 

(1

%)

 

8 pts

__________

Note: Numbers are rounded for presentation purposes.

(1)

Q4 FY24 was a 14-week fiscal quarter instead of a typical 13-week fiscal quarter. To enable comparability across periods, adjusted revenue and adjusted revenue growth rate are calculated by multiplying Q4 FY24 revenue by 13/14 to remove the impact of an additional week of revenue recognition in Q4 FY24.

We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with generally accepted accounting principles (“GAAP”). See the section titled “Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures and the tables in the section titled “Reconciliation Between GAAP and Non-GAAP Financial Measures” for a reconciliation of GAAP to non-GAAP financial measures.

Financial Outlook

Our guidance includes GAAP and non-GAAP financial measures. For the second quarter and fiscal year 2025, Samsara expects the following:

 

Q2 FY2025 Outlook

 

FY 2025 Outlook

Total revenue

$288 million – $290 million

 

$1.205 billion – $1.213 billion

Year/Year revenue growth

31% – 32%

 

29%

Year/Year adjusted revenue growth (1)

 

 

31% – 32%

Non-GAAP operating margin

(2%)

 

3%

Non-GAAP net income per share, diluted

$0.00 – $0.01

 

$0.13 – $0.15

__________

(1)

Q4 FY24 was a 14-week fiscal quarter instead of a typical 13-week fiscal quarter. To enable comparability across periods, adjusted revenue and adjusted revenue growth rate are calculated by multiplying Q4 FY24 revenue by 13/14 to remove the impact of an additional week of revenue recognition in Q4 FY24.

A reconciliation of non-GAAP guidance financial measures to corresponding GAAP guidance financial measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty and potential variability of expenses, such as stock-based compensation expense-related charges, that may be incurred in the future and cannot be reasonably determined or predicted at this time. It is important to note that these factors could be material to our results of operations computed in accordance with GAAP.

About Samsara

Samsara is the pioneer of the Connected Operations™ Cloud, which is a system of record that enables businesses that depend on physical operations to harness Internet of Things (IoT) data to develop actionable insights and improve their operations. With tens of thousands of customers across North America and Europe, Samsara is a proud technology partner to the people who keep our global economy running, including the world’s leading organizations across industries in transportation, construction, wholesale and retail trade, field services, logistics, utilities and energy, government, healthcare and education, manufacturing, food and beverage, and others. The company’s mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.

Investor Day and Customer Conference

Samsara will host an Investor Day on Thursday, June 27, 2024 at 12:30 p.m. Pacific Time (3:30 p.m. Eastern Time), where we will provide additional insights into Samsara’s trajectory and the overall state of physical operations. This event will be held in conjunction with our customer conference, Samsara Beyond, in Chicago, IL.

A live webcast of Investor Day may be accessed at https://investors.samsara.com/.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may relate to, but are not limited to, expectations of future operating results or financial performance, the calculation of certain of our key financial and operating metrics, our market opportunity, industry developments and trends, customer demand for our solution, macroeconomic conditions and any expected benefits of our products, and our competitive position, as well as assumptions relating to the foregoing.

Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and could cause actual results and events to differ. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “guidance,” “intend,” “may,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or the negative of these terms or other comparable expressions that concern our expectations, strategies, plans, or intentions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are based on information available at the time those statements are made, including information furnished to us by third parties that we have not independently verified, and/or management’s good faith beliefs and assumptions as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.

These risks and uncertainties include our ability to retain customers and expand the Applications used by our customers, our ability to attract new customers, our future financial performance, including trends in revenue and annual recurring revenue, net retention rate, costs of revenue, gross profit or gross margin, operating expenses, customer counts, non-GAAP financial measures (such as adjusted revenue, adjusted revenue growth rate, non-GAAP gross margin, non-GAAP operating margin, free cash flow margin, and adjusted free cash flow margin), our ability to achieve or maintain profitability, the demand for our products or for solutions for connected operations in general, the impact of the Russia-Ukraine conflict, geopolitical tensions involving China, the conflict in Israel and Gaza, the emergence of pandemics and epidemics, and macroeconomic conditions globally on our and our customers’, partners’ and suppliers’ operations and future financial performance, possible harm caused by silicon component shortages and other supply chain constraints, the length of our sales cycles, possible harm caused by a security breach or other incident affecting our or our customers’ assets or data, our ability to compete successfully in competitive markets, our ability to respond to rapid technological changes, and our ability to continue to innovate and develop new Applications. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings and reports that we may file from time to time with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.

Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

Use of Non-GAAP Financial Measures

This document includes certain non-GAAP financial measures. Reconciliations of non-GAAP financial measures to our financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data.

Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under GAAP. There are a number of limitations related to the use of non-GAAP financial measures versus comparable financial measures determined under GAAP. For example, other companies in our industry may calculate these non-GAAP financial measures differently or may use other measures to evaluate their performance. In addition, free cash flow and adjusted free cash flow do not reflect our future contractual commitments or the total increase or decrease of our cash balance for a given period. These and other limitations could reduce the usefulness of these non-GAAP financial measures as analytical tools. Investors are encouraged to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and to not rely on any single financial measure to evaluate our business.

We present these non-GAAP financial measures to assist investors in seeing Samsara’s operating results through the eyes of management and because we believe that these measures provide an additional tool for investors to evaluate our business.

Expenses Excluded from Non-GAAP Performance Financial Measures—Stock-based compensation expense-related charges include the amortization of deferred stock-based compensation expense for capitalized software and employer taxes on employee equity transactions. Stock-based compensation expense-related charges are excluded because they are primarily a non-cash expense that management believes is not reflective of our ongoing operational performance. Employer taxes on employee equity transactions, which are a cash expense, are excluded because such taxes are directly tied to the timing and size of employee equity transactions and the future fair market value of our common stock, which may vary from period to period independent of the operating performance of our business.

Lease modification, impairment, and related charges, and legal settlements are excluded because management believes that such charges are not reflective of our ongoing operational performance.

Operating Metrics and Non-GAAP Financial Measures

Annual Recurring Revenue—We define ARR as the annualized value of subscription contracts that have commenced revenue recognition as of the measurement date.

Adjusted Revenue and Adjusted Revenue Growth Rate—Q4 FY24 was a 14-week fiscal quarter instead of a typical 13-week fiscal quarter. To enable comparability across periods, adjusted revenue and adjusted revenue growth rate are calculated by multiplying Q4 FY24 revenue by 13/14 to remove the impact of an additional week of revenue recognition in Q4 FY24.

Non-GAAP Gross Profit and Non-GAAP Gross Margin—We define non-GAAP gross profit as gross profit excluding the effect of stock-based compensation expense-related charges included in cost of revenue. Non-GAAP gross margin is defined as non-GAAP gross profit as a percentage of total revenue. We use non-GAAP gross profit and non-GAAP gross margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP gross profit and non-GAAP gross margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Non-GAAP Income (Loss) from Operations and Non-GAAP Operating Margin—We define non-GAAP income (loss) from operations, or non-GAAP operating income (loss), as income (loss) from operations excluding the effect of stock-based compensation expense-related charges, lease modification, impairment, and related charges, and legal settlements. Non-GAAP operating margin is defined as non-GAAP operating income (loss) as a percentage of total revenue. We use non-GAAP income (loss) from operations and non-GAAP operating margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP income (loss) from operations and non-GAAP operating margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Non-GAAP Net Income (Loss) and Non-GAAP Net Income (Loss) per Share—We define non-GAAP net income (loss) as net loss excluding the effect of stock-based compensation expense-related charges, lease modification, impairment, and related charges, and legal settlements. Our non-GAAP net income (loss) per share–basic is calculated by dividing non-GAAP net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Our non-GAAP net income per share–diluted is calculated by giving effect to all potentially dilutive common stock equivalents (stock options, restricted stock units, and shares issued under our 2021 Employee Stock Purchase Plan) to the extent they are dilutive. Non-GAAP net loss per share–diluted is the same as non-GAAP net loss per share–basic as the inclusion of all potential dilutive common stock equivalents would be antidilutive. We use non-GAAP net income (loss) and non-GAAP net income (loss) per share in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP net income (loss) and non-GAAP net income (loss) per share provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Free Cash Flow and Free Cash Flow Margin—We define free cash flow as net cash provided by (used in) operating activities reduced by cash used for purchases of property and equipment. Free cash flow margin is calculated as free cash flow as a percentage of total revenue. We believe that free cash flow and free cash flow margin, even if negative, are useful in evaluating liquidity and provide information to management and investors about our ability to fund future operating needs and strategic initiatives.

Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin—We define adjusted free cash flow as free cash flow excluding the cash impact of non-recurring capital expenditures associated with the build-out of our corporate office facilities in San Francisco, California, net of tenant allowances, and legal settlements. Adjusted free cash flow margin is calculated as adjusted free cash flow as a percentage of total revenue. We believe that adjusted free cash flow and adjusted free cash flow margin, even if negative, are useful in evaluating liquidity and provide information to management and investors about our ability to fund future operating needs and strategic initiatives by excluding the impact of non-recurring events.

Webcast Information and Shareholder Letter

An investor presentation and accompanying shareholder letter is accessible from the Samsara investor relations website at https://investors.samsara.com/. Samsara will host a live webcast to discuss the results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today. The live webcast may be accessed at https://investors.samsara.com/. Following the webcast, a replay will be accessible from the same website.

SAMSARA INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

 

 

 

 

 

As of

 

May 4, 2024

 

February 3, 2024

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

162,466

 

 

$

135,536

 

Short-term investments

 

431,862

 

 

 

412,126

 

Accounts receivable, net

 

143,786

 

 

 

161,829

 

Inventories

 

30,510

 

 

 

22,238

 

Connected device costs, current

 

107,819

 

 

 

104,008

 

Prepaid expenses and other current assets

 

47,289

 

 

 

51,221

 

Total current assets

 

923,732

 

 

 

886,958

 

Restricted cash

 

19,202

 

 

 

19,202

 

Long-term investments

 

250,623

 

 

 

276,166

 

Property and equipment, net

 

55,913

 

 

 

54,969

 

Operating lease right-of-use assets

 

77,337

 

 

 

81,974

 

Connected device costs, non-current

 

233,030

 

 

 

230,782

 

Deferred commissions

 

182,679

 

 

 

177,562

 

Other assets, non-current

 

6,917

 

 

 

7,232

 

Total assets

$

1,749,433

 

 

$

1,734,845

 

Liabilities and stockholders’ equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

41,228

 

 

$

46,281

 

Accrued expenses and other current liabilities

 

60,566

 

 

 

61,437

 

Accrued compensation and benefits

 

32,465

 

 

 

37,068

 

Deferred revenue, current

 

447,031

 

 

 

426,369

 

Operating lease liabilities, current

 

20,005

 

 

 

20,661

 

Total current liabilities

 

601,295

 

 

 

591,816

 

Deferred revenue, non-current

 

140,986

 

 

 

139,117

 

Operating lease liabilities, non-current

 

73,618

 

 

 

78,830

 

Other liabilities, non-current

 

9,646

 

 

 

9,935

 

Total liabilities

 

825,545

 

 

 

819,698

 

Stockholders’ equity:

 

 

 

Preferred stock

 

 

 

 

 

Class A common stock

 

10

 

 

 

9

 

Class B common stock

 

23

 

 

 

23

 

Class C common stock

 

 

 

 

 

Additional paid-in capital

 

2,435,213

 

 

 

2,368,597

 

Accumulated other comprehensive income

 

29

 

 

 

1,616

 

Accumulated deficit

 

(1,511,387

)

 

 

(1,455,098

)

Total stockholders’ equity

 

923,888

 

 

 

915,147

 

Total liabilities and stockholders’ equity

$

1,749,433

 

 

$

1,734,845

 

 

SAMSARA INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share data)

(Unaudited)

 

 

 

 

 

Three Months Ended

 

May 4, 2024

 

April 29, 2023

Revenue

$

280,726

 

 

$

204,320

 

Cost of revenue

 

68,625

 

 

 

57,557

 

Gross profit

 

212,101

 

 

 

146,763

 

Operating expenses:

 

 

 

Research and development

 

72,973

 

 

 

60,366

 

Sales and marketing

 

147,437

 

 

 

118,955

 

General and administrative

 

57,688

 

 

 

43,266

 

Total operating expenses

 

278,098

 

 

 

222,587

 

Loss from operations

 

(65,997

)

 

 

(75,824

)

Interest income and other income, net

 

10,084

 

 

 

8,895

 

Loss before provision for income taxes

 

(55,913

)

 

 

(66,929

)

Provision for income taxes

 

376

 

 

 

927

 

Net loss

$

(56,289

)

 

$

(67,856

)

Other comprehensive loss:

 

 

 

Foreign currency translation adjustments, net of tax

 

100

 

 

 

(913

)

Unrealized losses on investments, net of tax

 

(1,687

)

 

 

(41

)

Other comprehensive loss

 

(1,587

)

 

 

(954

)

Comprehensive loss

$

(57,876

)

 

$

(68,810

)

Basic and diluted net loss per share:

 

 

 

Net loss per share attributable to common stockholders, basic and diluted

$

(0.10

)

 

$

(0.13

)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted

 

548,652,306

 

 

 

526,403,398

 

 

SAMSARA INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

 

 

 

Three Months Ended

 

May 4, 2024

 

April 29, 2023

Operating activities

 

 

 

Net loss

$

(56,289

)

 

$

(67,856

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

4,455

 

 

 

3,484

 

Stock-based compensation expense

 

64,656

 

 

 

52,948

 

Net accretion of discounts on investments

 

(3,993

)

 

 

(4,219

)

Other non-cash adjustments

 

1,330

 

 

 

(1,944

)

Changes in operating assets and liabilities:

 

 

 

Accounts receivable, net

 

15,862

 

 

 

20,822

 

Inventories

 

(8,272

)

 

 

8,168

 

Prepaid expenses and other current assets

 

3,932

 

 

 

(1,179

)

Connected device costs

 

(6,059

)

 

 

(9,707

)

Deferred commissions

 

(5,117

)

 

 

(3,518

)

Other assets, non-current

 

315

 

 

 

533

 

Accounts payable and other liabilities

 

(9,664

)

 

 

(8,511

)

Deferred revenue

 

22,531

 

 

 

23,377

 

Operating lease right-of-use assets and liabilities, net

 

(17

)

 

 

(1,944

)

Net cash provided by operating activities

 

23,670

 

 

 

10,454

 

Investing activities

 

 

 

Purchase of property and equipment

 

(5,062

)

 

 

(2,499

)

Purchases of investments

 

(142,313

)

 

 

(192,389

)

Proceeds from maturities and redemptions of investments

 

150,426

 

 

 

177,159

 

Net cash provided by (used in) investing activities

 

3,051

 

 

 

(17,729

)

Financing activities

 

 

 

Proceeds from issuance of common stock in connection with equity compensation plans

 

808

 

 

 

159

 

Payment of principal on finance leases

 

(496

)

 

 

(448

)

Net cash provided by (used in) financing activities

 

312

 

 

 

(289

)

Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash

 

(103

)

 

 

146

 

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

26,930

 

 

 

(7,418

)

Cash, cash equivalents, and restricted cash, beginning of period

 

154,738

 

 

 

223,766

 

Cash, cash equivalents, and restricted cash, end of period

$

181,668

 

 

$

216,348

 

 

SAMSARA INC.

RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL MEASURES

(In thousands, except percentages and per share data)

(Unaudited)

 

 

Three Months Ended

 

May 4, 2024

 

April 29, 2023

Gross profit and gross margin reconciliation

 

 

 

GAAP gross profit

$

212,101

 

 

$

146,763

 

Add:

 

 

 

Stock-based compensation expense-related charges (1)

 

3,766

 

 

 

2,915

 

Non-GAAP gross profit

$

215,867

 

 

$

149,678

 

GAAP gross margin

 

76

%

 

 

72

%

Non-GAAP gross margin

 

77

%

 

 

73

%

 

 

 

 

Operating income (loss) and operating margin reconciliation

 

 

 

GAAP loss from operations

$

(65,997

)

 

$

(75,824

)

Add:

 

 

 

Stock-based compensation expense-related charges (1)

 

72,156

 

 

 

56,793

 

Non-GAAP income (loss) from operations

$

6,159

 

 

$

(19,031

)

GAAP operating margin

 

(24

%)

 

 

(37

%)

Non-GAAP operating margin

 

2

%

 

 

(9

%)

 

Three Months Ended

 

May 4, 2024

 

April 29, 2023

GAAP net loss

$

(56,289

)

 

$

(67,856

)

Add:

 

 

 

Stock-based compensation expense-related charges

 

72,156

 

 

 

56,793

 

Non-GAAP net income (loss) (3)

$

15,867

 

 

$

(11,063

)

 

Three Months Ended

 

May 4, 2024

 

April 29, 2023

Net income (loss) per share, basic and diluted, reconciliation

 

 

 

GAAP net loss per share attributable to common stockholders, basic and diluted

$

(0.10

)

 

$

(0.13

)

Total impact on net loss per share, basic and diluted, from non-GAAP adjustments

 

0.13

 

 

 

0.11

 

Non-GAAP net income (loss) per share attributable to common stockholders, basic and diluted (4)

$

0.03

 

 

$

(0.02

)

Weighted-average shares used in computing GAAP net loss per share attributable to common stockholders, basic and diluted

 

548,652,306

 

 

 

526,403,398

 

Weighted-average shares used in computing non-GAAP net income (loss) per share attributable to common stockholders, basic

 

548,652,306

 

 

 

526,403,398

 

Weighted-average shares used in computing non-GAAP net income (loss) per share attributable to common stockholders, diluted (4)

 

573,154,525

 

 

 

526,403,398

 

 

SAMSARA INC.

RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL MEASURES

(In thousands, except percentages and per share data)

(Unaudited)

 

 

Three Months Ended

 

May 4, 2024

 

April 29, 2023

Free cash flow, adjusted free cash flow, free cash flow margin, and adjusted free cash flow margin reconciliation

 

 

 

Net cash provided by operating activities

$

23,670

 

 

$

10,454

 

Purchase of property and equipment

 

(5,062

)

 

 

(2,499

)

Free cash flow

 

18,608

 

 

 

7,955

 

Purchase of property and equipment for build-out of corporate office facilities, net of tenant allowances (5)

 

 

 

 

(10,179

)

Adjusted free cash flow

$

18,608

 

 

$

(2,224

)

Net cash provided by operating activities margin

 

8

%

 

 

5

%

Free cash flow margin

 

7

%

 

 

4

%

Adjusted free cash flow margin

 

7

%

 

 

(1

%)

__________

(1)

Stock-based compensation expense-related charges were included in the following line items of our condensed consolidated statements of operations and comprehensive loss as follows:

 

Three Months Ended

 

May 4, 2024

 

April 29, 2023

Cost of revenue

$

3,766

 

$

2,915

Research and development

 

26,264

 

 

22,053

Sales and marketing

 

20,682

 

 

16,320

General and administrative

 

21,444

 

 

15,505

Total stock-based compensation expense-related charges (2)

$

72,156

 

$

56,793

(2)

Stock-based compensation expense-related charges included approximately $7.0 million and $3.8 million of employer taxes on employee equity transactions for the three months ended May 4, 2024 and April 29, 2023, respectively.

(3)

There were no material income tax effects on our non-GAAP adjustments for all periods presented.

(4)

For each period in which we had non-GAAP net income, diluted non-GAAP net income per share is calculated using weighted-average number of shares of common stock outstanding during the period, adjusted for dilutive potential shares that were assumed outstanding during the period.

(5)

In April 2023, we settled a lease dispute which was primarily related to lease incentives associated with leasehold improvements in the form of a tenant allowance and received $11.3 million.

 

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 CorteMadera.com & California Media Partners, LLC. All rights reserved.