This guidance is based on the Company's evaluation of factual information it has determined to be relevant and the application of certain assumptions made by the Company. Please refer to the Company's prepared remarks document for additional information regarding the Company's financial guidance, including its assumptions regarding overall business dynamics.
/ Third Quarter 2022 Guidance
The Company currently expects the following for the quarter ending September 30, 2022:
| (in millions, except percentages and per share data) | GAAP | Non-GAAP | |||||||||||||
| Revenue | $453.8 - $473.8 | $455.0 - $475.0 | |||||||||||||
| Revenue Growth Rate | 2.9 % - 7.4 % | 2.1 % - 6.6 % | |||||||||||||
| Revenue Growth Rate — Constant Currency | 8.9 % - 13.5 %
| 8.1 % - 12.6 % | |||||||||||||
| Diluted earnings per share | $0.86 - $1.05 | $1.56 - $1.70 | |||||||||||||
The difference between the GAAP and non-GAAP revenue guidance presented above is a result of the expected impact of the application of the fair value provisions applicable to the accounting for business combinations closed prior to 2022 in the amount of $1.2 million for the quarter ending September 30, 2022.
| (in millions, except percentages) | Other Financial Metrics | ||||||
| ACV | $392.0 - $412.0 | ||||||
| ACV Growth Rate | 7.3 % - 12.7 % | ||||||
| ACV Growth Rate — Constant Currency | 13.0 % - 18.5 % | ||||||
/ Fiscal Year 2022 Guidance
The Company currently expects the following for the fiscal year ending December 31, 2022:
| (in millions, except percentages and per share data) | GAAP | Non-GAAP | |||||||||||||
| Revenue | $1,997.7 - $2,047.7 | $2,005.0 - $2,055.0 | |||||||||||||
| Revenue Growth Rate | 4.8 % - 7.4 % | 3.8 % - 6.4 % | |||||||||||||
| Revenue Growth Rate — Constant Currency | 10.2 % - 12.8 % | 9.2 % - 11.8 % | |||||||||||||
| Diluted earnings per share | $4.91 - $5.39 | $7.50 - $7.88 | |||||||||||||
The difference between the GAAP and non-GAAP revenue guidance presented above is a result of the expected impact of the application of the fair value provisions applicable to the accounting for business combinations closed prior to 2022 in the amount of $7.3 million for the fiscal year ending December 31, 2022.
| (in millions, except percentages) | Other Financial Metrics | ||||||
| ACV | $1,980.0 - $2,020.0 | ||||||
| ACV Growth Rate | 5.8 % - 8.0 % | ||||||
| ACV Growth Rate — Constant Currency | 11.3 % - 13.5 % | ||||||
| Operating cash flows | $570.0 - $610.0 | ||||||
Our diluted FY 2022 EPS guidance is inclusive of $22.0M in interest expense ($18.0 million, net of tax). This compares to interest expense in FY 2021 of $12.4 million ($10.0 million, net of tax) with the significant increase in FY 2022 driven by the recent rising interest rate environment and our floating interest rate on our term loans.
