| 2023 THIRD QUARTER OUTLOOK |
| RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN |
| (Unaudited) |
|
Three Months Ending September
30, 2023 | ||||||||
| Low | High | |||||||
| Gross margin | 55.5 | % | 56.1 | % | ||||
| Adjustment to reconcile gross margin to non-GAAP gross margin: | ||||||||
| Stock-based compensation expense | 0.2 | % | 0.2 | % | ||||
| Non-GAAP gross margin | 55.7 | % | 56.3 | % | ||||
| RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES |
| (Unaudited, in thousands) |
|
Three Months Ending September
30, 2023 | ||||||||
| Low | High | |||||||
| Operating expenses | $ | 129,400 | $ | 133,400 | ||||
| Adjustments to reconcile operating expenses to non-GAAP operating expenses: | ||||||||
| Stock-based compensation expense | (32,500 | ) | (34,500 | ) | ||||
| Non-GAAP operating expenses | $ | 96,900 | $ | 98,900 | ||||
