|
Three Months
Ended |
Year
Ended | ||||||
| December 31, 2023 | December 31, 2023 | ||||||
| (in thousands, except per share data) | |||||||
| Reconciliation of GAAP gross profit and margin to non-GAAP | |||||||
| Revenue | $ | 42,403 | $ | 143,993 | |||
| GAAP gross profit | 23,693 | 82,088 | |||||
| GAAP gross margin | 55.9 | % | 57.0 | % | |||
| Amortization of acquired intangibles | 280 | 280 | |||||
| Stock-based compensation | 740 | 2,840 | |||||
| Non-GAAP gross profit | $ | 24,713 | $ | 85,208 | |||
| Non-GAAP gross margin | 58.3 | % | 59.2 | % | |||
| Reconciliation of GAAP operating expenses to non-GAAP | |||||||
| GAAP research and development expenses | $ | 22,919 | $ | 97,589 | |||
| Stock-based compensation | (7,039 | ) | (32,909 | ) | |||
| Non-GAAP research and development expenses | $ | 15,880 | $ | 64,680 | |||
| GAAP sales, general and administrative expenses | 20,514 | 83,971 | |||||
| Stock-based compensation | (9,750 | ) | (41,005 | ) | |||
| Non-GAAP sales, general and administrative expenses | $ | 10,764 | $ | 42,966 | |||
| GAAP acquisition related costs | $ | 7,728 | $ | 7,728 | |||
| Acquisition related costs | (7,728 | ) | (7,728 | ) | |||
| Non-GAAP acquisition related costs | $ | — | $ | — | |||
| Total Non-GAAP operating expenses | $ | 26,644 | $ | 107,646 | |||
| Reconciliation of GAAP loss from operations to non-GAAP loss from operations | |||||||
| GAAP loss from operations | $ | (27,468 | ) | $ | (107,200 | ) | |
| Acquisition related costs | 7,728 | 7,728 | |||||
| Amortization of acquired intangibles | 280 | 280 | |||||
| Stock-based compensation | 17,529 | 76,754 | |||||
| Non-GAAP loss from operations | $ | (1,931 | ) | $ | (22,438 | ) | |
| Non-GAAP loss from operations as a percentage of revenue | (4.6)% | (15.6)% | |||||
| Reconciliation of GAAP net loss to non-GAAP net income | |||||||
| GAAP net loss | $ | (19,997 | ) | $ | (80,535 | ) | |
| Amortization of acquired intangibles | 280 | 280 | |||||
| Acquisition related costs | 7,728 | 7,728 | |||||
| Stock-based compensation | 17,529 | 76,754 | |||||
| Non-GAAP net income | $ | 5,540 | $ | 4,227 | |||
| Weighted-average shares used to compute diluted net income per share | 23,080 | 22,967 | |||||
| GAAP net loss per share diluted | $ | (0.89 | ) | $ | (3.63 | ) | |
| Non-GAAP adjustments detailed above | 1.13 | 3.81 | |||||
| Non-GAAP net income per share diluted | $ | 0.24 | $ | 0.18 | |||
