/ Currency
The second quarter and YTD 2024 revenue, operating income, ACV and deferred revenue and backlog, as compared to the second quarter and YTD 2023, were impacted by fluctuations in the exchange rates of foreign currencies against the U.S. Dollar. The currency fluctuation impacts on revenue, GAAP and non-GAAP operating income, ACV, and deferred revenue and backlog based on 2023 exchange rates are reflected in the tables below. Amounts in brackets indicate an adverse impact from currency fluctuations.
| (in thousands) |
Q2 QTD
2024 |
Q2 YTD
2024 | |||||
| Revenue | $ | (9,806 | ) | $ | (13,709 | ) | |
| GAAP operating income | $ | (6,715 | ) | $ | (10,113 | ) | |
| Non-GAAP operating income | $ | (6,761 | ) | $ | (9,939 | ) | |
| ACV | $ | (13,167 | ) | $ | (16,195 | ) | |
| Deferred revenue and backlog | $ | (10,976 | ) | $ | (30,591 | ) | |
The most meaningful currency impacts are typically attributable to U.S. Dollar exchange rate changes against the Euro and Japanese Yen. Historical exchange rates are reflected in the charts below.
| Period-End Exchange Rates | |||||
| As of |
EUR/USD
|
USD/JPY
| |||
| June 30, 2024 | 1.07 | 161 | |||
| December 31, 2023 | 1.10 | 141 | |||
| June 30, 2023 | 1.09 | 144 | |||
