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2024 FIRST QUARTER OUTLOOK
RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN (Unaudited) | ||||||||
| Three Months Ending | ||||||||
| March 31, 2024 | ||||||||
| Low | High | |||||||
| Gross margin | 55.1 | % | 55.7 | % | ||||
| Adjustment to reconcile gross margin to non-GAAP gross margin: | ||||||||
| Stock-based compensation and related expenses | 0.3 | % | 0.3 | % | ||||
| Non-GAAP gross margin | 55.4 | % | 56.0 | % | ||||
|
RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
(Unaudited, in thousands) | ||||||||
| Three Months Ending | ||||||||
| March 31, 2024 | ||||||||
| Low | High | |||||||
| Operating expenses | $ | 147,200 | $ | 151,200 | ||||
| Adjustments to reconcile operating expenses to non-GAAP operating expenses: | ||||||||
| Stock-based compensation and related expenses | (44,800 | ) | (46,800 | ) | ||||
| Amortization of purchased intangible assets | (600 | ) | (600 | ) | ||||
| Non-GAAP operating expenses | $ | 101,800 | $ | 103,800 | ||||
