Allegro MicroSystems Reports First Quarter 2025 Results
| | | | | | | | | | | |
Reconciliation of Non-GAAP Operating Expenses | | | | | | | | | | | | |
Three-Month Period Ended | | | | |
June 28, 2024 | | |
March 29, 2024 | | |
June 30, 2023 | | | | |
(Dollars in thousands) | | |
GAAP Operating Expenses | |
$ |
85,401 | | |
$ |
107,351 | | |
$ |
87,204 | | | | | | | | | | | | | |
Research and Development Expenses | | | | | | | | | | | GAAP Research and Development Expenses | | | 45,204 | | | | 45,839 | | | | 42,975 | | | Non-GAAP adjustments | | | | | | | | | | | Transaction-related costs | | | 1,029 | | | | 929 | | | | 7 | | | Restructuring costs | | | 169 | | | | 621 | | | | — | | | Stock-based compensation | | | 3,735 | | | | 3,554 | | | | 2,868 | | | Non-GAAP Research and Development Expenses | | | 40,271 | | | | 40,735 | | | | 40,100 | | | | | | | | | | | | | |
Selling, General and Administrative Expenses | | | | | | | | | | | GAAP Selling, General and Administrative Expenses | | | 40,197 | | | | 48,294 | | | | 44,229 | | | Non-GAAP adjustments | | | | | | | | | | | Transaction-related costs | | | 814 | | | | 5,649 | | | | 3,072 | | | Purchased intangible amortization | | | 535 | | | | 542 | | | | 358 | | | Restructuring costs | | | 1,045 | | | | 1,819 | | | | — | | | Stock-based compensation | | | 5,822 | | | | 5,330 | | | | 5,568 | | | Other costs (1) | | | 811 | | | | 3,514 | | | | — | | | Non-GAAP Selling, General and Administrative Expenses | | | 31,170 | | | | 31,440 | | | | 35,231 | | | | | | | | | | | | | | Impairment of long-lived assets | | | — | | | | 13,218 | | | | — | | | | | | | | | | | | | |
Total Non-GAAP Adjustments | | |
13,960 | | | |
35,176 | | | |
11,873 | | | | | | | | | | | | | |
Non-GAAP Operating Expenses | |
$ |
71,441 | | |
$ |
72,175 | | |
$ |
75,331 | | | | | | | | | | | | | | (1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs incurred in connection with debt and equity financings or other non-recurring transactions. | |
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