@fastly<\/a>.\n<\/p>\nForward-Looking Statements<\/b><\/p>\n
\nThis press release contains \u201cforward-looking\u201d statements that are based on our beliefs and assumptions and on information currently available to us on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, statements regarding our future financial and operating performance, including our outlook and guidance, the demand for our platform, our go-to-market efforts and our ability to deliver on our long-term strategy. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Important factors that could cause our actual results to differ materially are detailed from time to time in the reports Fastly files with the Securities and Exchange Commission (\u201cSEC\u201d), including in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2022. Additional information will also be set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Copies of reports filed with the SEC are posted on Fastly\u2019s website and are available from Fastly without charge.\n<\/p>\n
Use of Non-GAAP Financial Measures<\/b><\/p>\n
\nTo supplement our condensed consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States (“GAAP”), the Company uses the following non-GAAP measures of financial performance: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP net loss, non-GAAP basic and diluted net loss per common share, non-GAAP research and development, non-GAAP sales and marketing, non-GAAP general and administrative, free cash flow and adjusted EBITDA. The presentation of this additional financial information is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. These non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP. In addition, these non-GAAP financial measures may be different from the non-GAAP financial measures used by other companies. These non-GAAP measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures. Management compensates for these limitations by reconciling these non-GAAP financial measures to the most comparable GAAP financial measures within our earnings releases.\n<\/p>\n
\nNon-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP net loss and non-GAAP basic and diluted net loss per common share, non-GAAP research and development, non-GAAP sales and marketing, and non-GAAP general and administrative differ from GAAP in that they exclude stock-based compensation expense, amortization of acquired intangible assets, acquisition-related expenses, executive transition costs, net gain on extinguishment of debt and amortization of debt discount and issuance costs.\n<\/p>\n
Adjusted EBITDA<\/b>: excludes stock-based compensation expense, depreciation and other amortization expenses, amortization of acquired intangible assets, acquisition-related expenses, executive transition costs, interest income, interest expense, including amortization of debt discount and issuance costs, net gain on extinguishment of debt, other income (expense), net, and income taxes.\n<\/p>\n
Acquisition-related Expenses<\/b>: consists of acquisition-related charges that are not related to ongoing operations. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net loss performance and its adjusted EBITDA performance because these charges may not be reflective of our core business, ongoing operating results, or future outlook.\n<\/p>\n
Amortization of Acquired Intangible Assets<\/b>: consists of non-cash charges that can be affected by the timing and magnitude of asset purchases and acquisitions. Management considers its operating results without this activity when evaluating its ongoing non-GAAP performance and its adjusted EBITDA performance because these charges are non-cash expenses that can be affected by the timing and magnitude of asset purchases and acquisitions and may not be reflective of our core business, ongoing operating results, or future outlook.\n<\/p>\n
Amortization of Debt Discount and Issuance Costs<\/b>: consists primarily of amortization expense related to our debt obligations. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net loss performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook. These are included in our total interest expense.\n<\/p>\n
Capital Expenditures<\/b>: consists of cash used for purchases of property and equipment, net of proceeds from sale of property and equipment, capitalized internal-use software and payments on finance lease obligations, as reflected in our statement of cash flows.\n<\/p>\n
Depreciation and Other Amortization Expense<\/b>: consists of non-cash charges that can be affected by the timing and magnitude of asset purchases. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because these charges are non-cash expenses that can be affected by the timing and magnitude of asset purchases and may not be reflective of our core business, ongoing operating results, or future outlook.\n<\/p>\n
Executive Transition costs: <\/b>consists of one-time cash and non-cash charges recognized with respect to changes in our executive\u2019s employment status. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net loss performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.\n<\/p>\n
Free Cash Flow<\/b>: calculated as net cash used in operating activities less capital expenditures, including any advance payments made related to capital expenditures.\n<\/p>\n
Income Taxes<\/b>: consists primarily of expenses recognized related to state and foreign income taxes. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.\n<\/p>\n
Interest Expense<\/b>: consists primarily of interest expense related to our debt instruments, including amortization of debt discount and issuance costs. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net loss performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.\n<\/p>\n
Interest Income<\/b>: consists primarily of interest income related to our marketable securities. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net loss performance and adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.\n<\/p>\n
Net Gain on Debt Extinguishment<\/b>: relates to net gain on the partial repurchase of our outstanding convertible debt. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net loss performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.\n<\/p>\n
Other Income (Expense), Net<\/b>: consists primarily of foreign currency transaction gains and losses. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.\n<\/p>\n
Stock-based Compensation Expense<\/b>: consists of expenses for stock options, restricted stock units, performance awards, restricted stock awards and Employee Stock Purchase Plan (“ESPP”) under our equity incentive plans. Although stock-based compensation is an expense for the Company and is viewed as a form of compensation, management considers its operating results without this activity when evaluating its ongoing non-GAAP net loss performance and its adjusted EBITDA performance, primarily because it is a non-cash expense not believed by management to be reflective of our core business, ongoing operating results, or future outlook. In addition, the value of some stock-based instruments is determined using formulas that incorporate variables, such as market volatility, that are beyond our control.\n<\/p>\n
\nManagement believes these non-GAAP financial measures and adjusted EBITDA serve as useful metrics for our management and investors because they enable a better understanding of the long-term performance of our core business and facilitate comparisons of our operating results over multiple periods and to those of peer companies, and when taken together with the corresponding GAAP financial measures and our reconciliations, enhance investors’ overall understanding of our current financial performance.\n<\/p>\n
\nIn the financial tables below, the Company provides a reconciliation of the most comparable GAAP financial measure to the historical non-GAAP financial measures used in this press release.\n<\/p>\n
Key Metrics<\/b><\/p>\n
1<\/sup> We calculate LTM Net Retention Rate by dividing the total customer revenue for the prior twelve-month period (\u201cprior 12-month period\u201d) ending at the beginning of the last twelve-month period (\u201cLTM period\u201d) minus revenue contraction due to billing decreases or customer churn, plus revenue expansion due to billing increases during the LTM period from the same customers by the total prior 12-month period revenue. We believe the LTM Net Retention Rate is supplemental as it removes some of the volatility that is inherent in a usage-based business model.\n<\/p>\n2<\/sup> We calculate Dollar-Based Net Expansion Rate by dividing the revenue for a given period from customers who remained customers as of the last day of the given period (the \u201ccurrent\u201d period) by the revenue from the same customers for the same period measured one year prior (the \u201cbase\u201d period). The revenue included in the current period excludes revenue from (i) customers that churned after the end of the base period and (ii) new customers that entered into a customer agreement after the end of the base period.\n<\/p>\n3<\/sup> Enterprise customers are defined as those spending $100,000 or more in the trailing 12-month period.\n<\/p>\n4 <\/sup>Assumes weighted average basic shares outstanding of 125.8 million in Q1 2023 and 129.5 million for the full year 2023.\n<\/p>\n5 <\/sup>Non-GAAP Net Loss per share is calculated as Non-GAAP Net Loss divided by weighted average basic shares for 2023.\n<\/p>\n6 <\/sup>Annual revenue retention rate is calculated by subtracting the quotient of the Annual Revenue Churn from all of our Churned Customers divided by our annual revenue of the same calendar year from 100%. Our \u201cAnnual Revenue Churn\u201d is calculated by multiplying the final full month of revenue from a customer that terminated its contract with us (a \u201cChurned Customer\u201d) by the number of months remaining in the same calendar year.\n<\/p>\n7 <\/sup>Average enterprise customer spend is calculated by taking the sum of the trailing 12-month revenue contributed by enterprise customers existing as of the current period, and dividing that by the number of enterprise customers as of the current period.\n<\/p>\n\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n |
\nCondensed Consolidated Statements of Operations<\/b><\/td>\n<\/tr>\n\n(in thousands, except per share amounts, unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\n Three months ended
\n
December 31,<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n Year ended
\n
December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Revenue<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n119,321\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n97,717\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n432,725\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n354,330\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \nCost of revenue(1)<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n56,738\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n47,944\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n222,944\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n167,002\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gross profit<\/b><\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 62,583<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 49,773<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 209,781<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 187,328<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Operating expenses:<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \nResearch and development(1)<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n37,197\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n34,997\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n155,308\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n126,859\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \nSales and marketing(1)<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n44,623\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n42,151\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n179,869\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n152,645\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \nGeneral and administrative(1)<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n29,225\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n29,281\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n120,803\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n126,845\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total operating expenses<\/b><\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 111,045<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 106,429<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 455,980<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 406,349<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from operations<\/b><\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (48,462<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (56,656<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (246,199<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (219,021<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Net gain on extinguishment of debt<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n54,391\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest income<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,894\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n552\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,044\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,282\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,354\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,593\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(5,887\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(5,245\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other income (expense)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n46\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n201\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(29\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n356\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss before income taxes<\/b><\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (46,876<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (57,496<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (190,680<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (222,628<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Income tax expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(223\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n25\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n94\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n69\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net loss<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (46,653<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (57,521<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (190,774<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (222,697<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Net income (loss) per share attributable to common stockholders, basic and diluted<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (0.38<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (0.49<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (1.57<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (1.92<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic and diluted<\/b><\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 123,587<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 118,161<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 121,723<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 116,053<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| __________<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| (1) Includes stock-based compensation expense as follows:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n\n Three months ended
\n
December 31,<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n Year ended
\n
December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cost of revenue<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n2,938\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n2,316\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n12,050\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n7,227\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Research and development<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,469\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15,675\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n58,435\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n47,019\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Sales and marketing<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,885\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,399\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n39,083\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n31,159\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| General and administrative<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,126\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,198\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n36,228\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n55,083\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n31,418\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n39,588\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n145,796\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n140,488\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\nReconciliation of GAAP to Non-GAAP Financial Measures<\/b><\/td>\n<\/tr>\n\n(in thousands, unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n\n Three months ended
\n
December 31,<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n Year ended
\n
December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gross Profit<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| GAAP gross profit<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n62,583\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n49,773\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n209,781\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n187,328\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,938\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,316\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n12,050\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,227\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of acquired intangible assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,475\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,475\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,900\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,900\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP gross profit<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 67,996<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 54,564<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 231,731<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 204,455<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| GAAP gross margin<\/b><\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 52.4<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 50.9<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 48.5<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 52.9<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Non-GAAP gross margin<\/b><\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 57.0<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 55.8<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 53.6<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 57.7<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Research and development<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| GAAP research and development<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n37,197\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n34,997\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n155,308\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n126,859\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(11,469\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(15,675\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(58,435\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(47,019\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP research and development<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 25,728<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 19,322<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 96,873<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 79,840<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Sales and marketing<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| GAAP sales and marketing<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n44,623\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n42,151\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n179,869\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n152,645\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(7,885\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(11,399\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(39,083\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(31,159\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of acquired intangible assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(2,575\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(2,710\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(10,891\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(10,944\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP sales and marketing<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 34,163<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 28,042<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 129,895<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 110,542<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| General and administrative<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| GAAP general and administrative<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n29,225\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n29,281\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n120,803\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n126,845\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(9,126\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(10,198\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(33,195\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(55,083\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Executive transition costs<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(4,207\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Acquisition-related expenses<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(149\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,970\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(2,555\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP general and administrative<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 20,099<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 18,934<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 81,431<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 69,207<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Operating loss<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| GAAP operating loss<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(48,462\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(56,656\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(246,199\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(219,021\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n31,418\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n39,588\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n142,763\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n140,488\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Executive transition costs<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,207\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of acquired intangible assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,050\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,185\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,791\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,844\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Acquisition-related expenses<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n149\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,970\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,555\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP operating loss<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (11,994<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (11,734<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (76,468<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (55,134<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net loss<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| GAAP net loss<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(46,653\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(57,521\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(190,774\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(222,697\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n31,418\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n39,588\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n142,763\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n140,488\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Executive transition costs<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,207\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of acquired intangible assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,050\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,185\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,791\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,844\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Acquisition-related expenses<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n149\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,970\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,555\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net gain on extinguishment of debt<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(54,391\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of debt discount and issuance costs<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n716\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n947\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,169\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,907\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP loss<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (9,469<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (11,652<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (72,265<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (55,903<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Non-GAAP net loss per common share\u2014basic and diluted<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (0.08<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (0.10<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (0.59<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (0.48<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Weighted average basic and diluted common shares<\/b><\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 123,587<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 118,161<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 121,723<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 116,053<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n | | | | | | | | | | | | | | | | | | | | | |