The following table provides a reconciliation of Non-GAAP operating expense to Total operating expense, the most comparable GAAP financial measure:
| (Unaudited) | |||||||||||||||
|
Three Months Ended
December 31, 2023 |
Year Ended
December 31, | ||||||||||||||
| (in thousands) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Total operating expense | $ | 119,740 | $ | 121,963 | $ | 490,667 | $ | 456,269 | |||||||
| Stock-based compensation expense | (16,855 | ) | (20,177 | ) | (75,486 | ) | (76,436 | ) | |||||||
| Amortization | (7,708 | ) | (8,828 | ) | (30,851 | ) | (27,510 | ) | |||||||
| (Gain) loss on mark-to-market adjustment of contingent consideration | (1,212 | ) | (329 | ) | (5,706 | ) | 7,153 | ||||||||
| Non-GAAP operating expense | $ | 93,965 | $ | 92,629 | $ | 378,624 | $ | 359,476 | |||||||
The following table provides a reconciliation of Billings to revenue, the most comparable GAAP financial measure:
| (Unaudited) | |||||||||||||||
|
Three Months Ended
December 31, |
Year Ended
December 31, | ||||||||||||||
| (in thousands) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Revenue | $ | 171,503 | $ | 160,433 | $ | 612,701 | $ | 572,221 | |||||||
| Ending deferred revenue | 163,703 | 144,460 | 163,703 | 144,460 | |||||||||||
| Beginning deferred revenue | (138,933 | ) | (116,540 | ) | (144,460 | ) | (106,032 | ) | |||||||
| Deferred revenue acquired | (149 | ) | (449 | ) | (149 | ) | (3,047 | ) | |||||||
| Billings | $ | 196,124 | $ | 187,904 | $ | 631,795 | $ | 607,602 | |||||||
