(2) Calculated as non-GAAP gross profit as a percentage of total revenue
| Nine Months Ended September 30, | ||||||||||||
| (in millions) | 2024 | 2023 | ||||||||||
| Gross Profit | Gross Profit Margin | Gross Profit | Gross Profit Margin | |||||||||
| GAAP | $ | 129.7 | 39.4 | % | $ | 152.5 | 40.9 | % | ||||
| Amortization expense included in Cost of sales | 0.8 | 0.1 | ||||||||||
| Severance accrual adjustment | (0.5 | ) | — | |||||||||
| Non-GAAP (2) | $ | 130.0 | 39.5 | % | $ | 152.6 | 40.9 | % | ||||
(1) Amounts in table may not foot due to rounding
(2) Calculated as non-GAAP gross profit as a percentage of total revenue
Non-GAAP Operating Expense (1)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| (in millions) | 2024 | 2023 | 2024 | 2023 | |||||||||||
| Operating expense | $ | 222.5 | $ | 68.9 | $ | 376.8 | $ | 231.2 | |||||||
| Amortization expense | (8.1 | ) | (3.1 | ) | (12.4 | ) | (9.6 | ) | |||||||
| Stock-based compensation expense | (5.8 | ) | 3.1 | (17.4 | ) | (15.1 | ) | ||||||||
| Acquisition and divestiture-related expense | (0.6 | ) | 4.1 | (0.8 | ) | (0.1 | ) | ||||||||
| Legal and other expense | (2.6 | ) | (2.1 | ) | (9.2 | ) | (4.9 | ) | |||||||
| Restructuring expense | (0.2 | ) | (1.5 | ) | (1.4 | ) | (6.7 | ) | |||||||
| Asset impairment charges | (143.7 | ) | (13.6 | ) | (143.7 | ) | (14.2 | ) | |||||||
| Non-GAAP operating expense | $ | 61.4 | $ | 55.8 | $ | 191.9 | $ | 180.6 | |||||||
