Financial Results
The following table provides a reconciliation of Non-GAAP net income and Non-GAAP net income per share – diluted, to net income (loss) and net income (loss) per share – diluted, the most comparable GAAP financial measures:
| (Unaudited) | |||||||||||||||
|
Three Months Ended
December 31, |
Year Ended
December 31, | ||||||||||||||
| (in thousands, except per share amounts) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Net income (loss) | $ | 19,675 | $ | 12,065 | $ | (8,926 | ) | $ | (43,429 | ) | |||||
| Stock-based compensation expense | 19,158 | 22,263 | 85,581 | 84,787 | |||||||||||
| Amortization of intangible assets | 7,708 | 8,828 | 30,851 | 27,510 | |||||||||||
| Non-cash interest expense | 470 | 467 | 1,869 | 1,806 | |||||||||||
| Impact of non-GAAP tax rate(1) | (4,261 | ) | (9,468 | ) | (13,158 | ) | (11,346 | ) | |||||||
| Special adjustments and other(2) | (1,659 | ) | (6,614 | ) | 2,553 | 16,272 | |||||||||
| Non-GAAP net income | $ | 41,091 | $ | 27,541 | $ | 98,770 | $ | 75,600 | |||||||
| Net income (loss) per share, diluted | $ | 0.22 | $ | 0.14 | $ | (0.11 | ) | $ | (0.55 | ) | |||||
| Non-GAAP net income per share, diluted | $ | 0.46 | $ | 0.31 | $ | 1.13 | $ | 0.89 | |||||||
| GAAP diluted shares outstanding: | 88,977 | 87,498 | 80,596 | 79,472 | |||||||||||
| Non-GAAP diluted shares outstanding: | 88,977 | 87,498 | 87,642 | 85,392 | |||||||||||
