Key Business Metrics and Non-GAAP Financial Measures
(in thousands, except per share amounts)
(unaudited)
Key Business Metrics
|
Three Months Ended
December 31, |
Year Ended
December 31, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Billings | $ | 100,624 | $ | 70,890 | $ | 293,583 | $ | 205,807 | ||||||||
| Billings from business customers | $ | 87,141 | $ | 57,873 | $ | 248,159 | $ | 162,965 | ||||||||
| % of billings from business customers | 87 | % | 82 | % | 85 | % | 79 | % | ||||||||
Non-GAAP Financial Measures
|
Three Months Ended
December 31, |
Year Ended
December 31, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Reconciliation of gross profit to non-GAAP gross profit: | ||||||||||||||||
| Gross profit | $ | 50,817 | $ | 33,258 | $ | 169,479 | $ | 116,996 | ||||||||
| Equity-based compensation | 54 | 5 | 140 | 20 | ||||||||||||
| Amortization of acquired intangible assets | 783 | 2,082 | 7,586 | 7,008 | ||||||||||||
| Employer payroll taxes on employee stock transactions | 16 | — | 16 | — | ||||||||||||
| Non-GAAP gross profit | $ | 51,670 | $ | 35,345 | $ | 177,221 | $ | 124,024 | ||||||||
| Gross margin | 76 | % | 70 | % | 73 | % | 70 | % | ||||||||
| Non-GAAP gross margin | 77 | % | 75 | % | 76 | % | 74 | % | ||||||||
| Reconciliation of loss from operations to non-GAAP operating loss: | ||||||||||||||||
| Loss from operations | $ | (32,200 | ) | $ | (27,478 | ) | $ | (118,513 | ) | $ | (82,746 | ) | ||||
| Equity-based compensation | 17,331 | 2,793 | 54,303 | 21,781 | ||||||||||||
| Amortization of acquired intangible assets | 960 | 2,508 | 8,681 | 8,526 | ||||||||||||
| Employer payroll taxes on employee stock transactions | 1,180 | — | 1,180 | — | ||||||||||||
| Non-GAAP operating loss | $ | (12,729 | ) | $ | (22,177 | ) | $ | (54,349 | ) | $ | (52,439 | ) | ||||
