Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2025
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RECONCILIATION OF GAAP RESEARCH AND DEVELOPMENT EXPENSES TO NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES |
| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | 2024 | | 2023 | | 2024 | | 2023 |
| Research and development expenses, as reported | $ | 240.7 | | | $ | 292.6 | | | $ | 482.4 | | | $ | 591.1 | |
| Share-based compensation expense | | (26.9 | ) | | | (23.7 | ) | | | (50.2 | ) | | | (46.6 | ) |
| Other adjustments | | — | | | | (0.2 | ) | | | — | | | | (0.4 | ) |
| Non-GAAP research and development expenses | $ | 213.8 | | | $ | 268.7 | | | $ | 432.2 | | | $ | 544.1 | |
| GAAP research and development expenses as a percentage of net sales | | 20.7 | % | | | 13.0 | % | | | 20.1 | % | | | 13.0 | % |
| Non-GAAP research and development expenses as a percentage of net sales | | 18.4 | % | | | 11.9 | % | | | 18.0 | % | | | 12.0 | % |
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