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
September 30, |
Nine Months Ended
September 30, | ||||||||||||||
| (in thousands) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Total operating expense | $ | 116,181 | $ | 116,438 | $ | 370,927 | $ | 334,306 | |||||||
| Stock-based compensation expense | (18,058 | ) | (20,378 | ) | (58,631 | ) | (56,259 | ) | |||||||
| Amortization | (7,704 | ) | (6,571 | ) | (23,143 | ) | (18,682 | ) | |||||||
| Gain (loss) on mark-to-market adjustment of contingent consideration | 3,493 | 2,178 | (4,494 | ) | 7,482 | ||||||||||
| Non-GAAP operating expense | $ | 93,912 | $ | 91,667 | $ | 284,659 | $ | 266,847 | |||||||
The following table provides a reconciliation of Billings to revenue, the most comparable GAAP financial measure:
| (Unaudited) | |||||||||||||||
|
Three Months Ended
September 30, |
Nine Months Ended
September 30, | ||||||||||||||
| (in thousands) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Revenue | $ | 134,003 | $ | 119,351 | $ | 441,198 | $ | 411,788 | |||||||
| Ending deferred revenue | 138,933 | 116,540 | 138,933 | 116,540 | |||||||||||
| Beginning deferred revenue | (148,547 | ) | (112,926 | ) | (144,460 | ) | (106,032 | ) | |||||||
| Deferred revenue acquired | — | (26 | ) | — | (2,598 | ) | |||||||||
| Billings | $ | 124,389 | $ | 122,939 | $ | 435,671 | $ | 419,698 | |||||||
