AKAMAI TECHNOLOGIES, INC.
SUPPLEMENTAL METRICS (UNAUDITED)
JUNE 30, 2021
(in thousands, except per share data) | 2021 | ||||
Q1 | Q2 | ||||
Revenue | $ | 842,708 | $ | 852,824 | |
Non-GAAP cash cost of revenue | $ | 200,456 | $ | 207,960 | |
Depreciation and amortization - cost of revenue | $ | 99,135 | $ | 105,166 | |
Stock-based compensation - cost of revenue | $ | 7,096 | $ | 6,874 | |
GAAP cost of revenue | $ | 306,687 | $ | 320,000 | |
Non-GAAP cash gross profit | $ | 642,252 | $ | 644,864 | |
Non-GAAP cash gross margin | 76 % | 76 % | |||
GAAP gross profit | $ | 536,021 | $ | 532,824 | |
GAAP gross margin | 64 % | 62 % | |||
Non-GAAP R&D | $ | 63,676 | $ | 61,318 | |
Stock-based compensation - R&D | $ | 18,369 | $ | 15,937 | |
GAAP R&D | $ | 82,045 | $ | 77,255 | |
Non-GAAP S&M | $ | 103,876 | $ | 100,347 | |
Stock-based compensation - S&M | $ | 12,478 | $ | 11,547 | |
GAAP S&M | $ | 116,354 | $ | 111,894 | |
Non-GAAP G&A | $ | 99,342 | $ | 97,498 | |
Stock-based compensation - G&A | $ | 16,362 | $ | 16,123 | |
Acquisition-related costs - G&A | $ | 64 | $ | 140 | |
Depreciation and amortization - G&A | $ | 20,909 | $ | 20,489 | |
Amortization of capitalized stock-based compensation and interest expense not included in | $ | 38 | $ | 45 | |
depreciation and amortization - G&A | |||||
GAAP G&A | $ | 136,715 | $ | 134,295 | |
Restructuring charge (benefit) | $ | 7,116 | $ | (2,114) | |
Amortization of acquired intangible assets | $ | 11,427 | $ | 12,060 | |
Adjusted EBITDA | $ | 375,358 | $ | 385,701 | |
Adjusted EBITDA margin | 45 % | 45 % | |||
GAAP OpEx (excluding cost of revenue) | $ | 353,657 | $ | 333,390 | |
GAAP income from operations | $ | 182,364 | $ | 199,434 | |
Interest income | $ | 4,578 | $ | 4,736 | |
Interest expense | $ | (17,834) | $ | (18,037) | |
Other expense, net | $ | (817) | $ | (811) | |
Income before provision for income taxes | $ | 168,291 | $ | 185,322 | |
Provision for income taxes | $ | (11,898) | $ | (18,009) | |
Loss from equity method investment | $ | (698) | $ | (10,816) | |
Net income | $ | 155,695 | $ | 156,497 | |
Net income per share - basic | $ | 0.95 | $ | 0.96 | |
Net income per share - diluted | $ | 0.94 | $ | 0.94 | |
Shares used in per share calculation - basic | 163,061 | 163,074 | |||
Shares used in per share calculation - diluted | 165,688 | 166,263 | |||
GAAP income from operations | $ | 182,364 | $ | 199,434 | |
Amortization of acquired intangible assets | $ | 11,427 | $ | 12,060 | |
Stock-based compensation | $ | 54,305 | $ | 50,481 | |
Amortization of capitalized stock-based compensation and capitalized interest expense | $ | 8,598 | $ | 9,840 | |
Restructuring charge (benefit) | $ | 7,116 | $ | (2,114) | |
Acquisition-related costs | $ | 64 | $ | 140 | |
Operating adjustments | $ | 81,510 | $ | 70,407 | |
Non-GAAP income from operations | $ | 263,874 | $ | 269,841 | |
Non-GAAP operating margin | 31 % | 32 % | |||
GAAP net income | $ | 155,695 | $ | 156,497 | |
Operating adjustments (from above) | $ | 81,510 | $ | 70,407 | |
Amortization of debt discount and issuance costs | $ | 16,257 | $ | 16,460 | |
Loss from equity method investment | $ | 698 | $ | 10,816 | |
Income tax-effect of above non-GAAP adjustments and certain discrete tax items | $ | (26,346) | $ | (21,428) | |
Non-GAAP net income | $ | 227,814 | $ | 232,752 | |
Non-GAAP net income per share - diluted | $ | 1.38 | $ | 1.42 | |
Shares used in non-GAAP per share calculation - diluted | 164,734 | 164,481 |
AKAMAI TECHNOLOGIES, INC.
SUPPLEMENTAL METRICS (UNAUDITED)
DECEMBER 31, 2020
(in thousands, except per share data) | 2020 | 2020 FY | ||||||||||||
Q1 | Q2 | Q3 | Q4 | |||||||||||
Revenue | $ | 764,302 | $ | 794,715 | $ | 792,845 | $ | 846,287 | $ | 3,198,149 | ||||
Non-GAAP cash cost of revenue | $ | 177,537 | $ | 186,005 | $ | 189,056 | $ | 201,767 | $ | 754,365 | ||||
Depreciation and amortization - cost of revenue | $ | 85,309 | $ | 84,545 | $ | 87,999 | $ | 95,625 | $ | 353,478 | ||||
Stock-based compensation - cost of revenue | $ | 5,736 | $ | 6,254 | $ | 6,384 | $ | 6,455 | $ | 24,829 | ||||
GAAP cost of revenue | $ | 268,582 | $ | 276,804 | $ | 283,439 | $ | 303,847 | $ | 1,132,672 | ||||
Non-GAAP cash gross profit | $ | 586,765 | $ | 608,710 | $ | 603,789 | $ | 644,520 | $ | 2,443,784 | ||||
Non-GAAP cash gross margin | 77 % | 77 % | 76 % | 76 % | 76 % | |||||||||
GAAP gross profit | $ | 495,720 | $ | 517,911 | $ | 509,406 | $ | 542,440 | $ | 2,065,477 | ||||
GAAP gross margin | 65 % | 65 % | 64 % | 64 % | 65 % | |||||||||
Non-GAAP R&D | $ | 59,159 | $ | 52,541 | $ | 54,051 | $ | 54,709 | $ | 220,460 | ||||
Stock-based compensation - R&D | $ | 12,065 | $ | 11,549 | $ | 12,722 | $ | 12,519 | $ | 48,855 | ||||
GAAP R&D | $ | 71,224 | $ | 64,090 | $ | 66,773 | $ | 67,228 | $ | 269,315 | ||||
Non-GAAP S&M | $ | 108,051 | $ | 107,458 | $ | 105,940 | $ | 123,699 | $ | 445,148 | ||||
Stock-based compensation - S&M | $ | 15,735 | $ | 16,011 | $ | 16,809 | $ | 16,702 | $ | 65,257 | ||||
GAAP S&M | $ | 123,786 | $ | 123,469 | $ | 122,749 | $ | 140,401 | $ | 510,405 | ||||
Non-GAAP G&A | $ | 92,863 | $ | 93,339 | $ | 92,454 | $ | 102,024 | $ | 380,680 | ||||
Stock-based compensation - G&A | $ | 13,957 | $ | 15,377 | $ | 14,302 | $ | 14,834 | $ | 58,470 | ||||
Acquisition-related costs - G&A | $ | 76 | $ | 62 | $ | 1,051 | $ | 4,390 | $ | 5,579 | ||||
Legal settlements - G&A | $ | - | $ | 275 | $ | - | $ | - | $ | 275 | ||||
Endowment of Akamai Foundation - G&A | $ | - | $ | - | $ | - | $ | 20,000 | $ | 20,000 | ||||
Depreciation and amortization - G&A | $ | 20,465 | $ | 20,654 | $ | 20,554 | $ | 21,189 | $ | 82,862 | ||||
Amortization of capitalized stock-based compensation and interest expense not included in | $ | - | $ | 2 | $ | 4 | $ | 16 | $ | 22 | ||||
depreciation and amortization - G&A | ||||||||||||||
GAAP G&A | $ | 127,361 | $ | 129,709 | $ | 128,365 | $ | 162,453 | $ | 547,888 | ||||
Restructuring charge (benefit) | $ | 10,585 | $ | (167) | $ | 21 | $ | 26,847 | $ | 37,286 | ||||
Amortization of acquired intangible assets | $ | 10,434 | $ | 10,381 | $ | 10,340 | $ | 10,894 | $ | 42,049 | ||||
Adjusted EBITDA | $ | 326,692 | $ | 355,372 | $ | 351,344 | $ | 364,088 | $ | 1,397,496 | ||||
Adjusted EBITDA margin | 43 % | 45 % | 44 % | 43 % | 44 % | |||||||||
GAAP OpEx (excluding cost of revenue) | $ | 343,390 | $ | 327,482 | $ | 328,248 | $ | 407,823 | $ | 1,406,943 | ||||
GAAP income from operations | $ | 152,330 | $ | 190,429 | $ | 181,158 | $ | 134,617 | $ | 658,534 | ||||
Interest income | $ | 7,043 | $ | 9,502 | $ | 6,307 | $ | 6,270 | $ | 29,122 | ||||
Interest expense | $ | (17,205) | $ | (17,249) | $ | (17,324) | $ | (17,342) | $ | (69,120) | ||||
Other (expense) income, net | $ | (4,108) | $ | (1,603) | $ | (2,158) | $ | 5,415 | $ | (2,454) | ||||
Income before provision for income taxes | $ | 138,060 | $ | 181,079 | $ | 167,983 | $ | 128,960 | $ | 616,082 | ||||
Provision for income taxes | $ | (14,292) | $ | (18,671) | $ | (8,801) | $ | (4,158) | $ | (45,922) | ||||
Loss from equity method investment | $ | (622) | $ | (493) | $ | (559) | $ | (11,432) | $ | (13,106) | ||||
Net income | $ | 123,146 | $ | 161,915 | $ | 158,623 | $ | 113,370 | $ | 557,054 | ||||
Net income per share - basic | $ | 0.76 | $ | 1.00 | $ | 0.97 | $ | 0.70 | $ | 3.43 | ||||
Net income per share - diluted | $ | 0.75 | $ | 0.98 | $ | 0.95 | $ | 0.68 | $ | 3.37 | ||||
Shares used in per share calculation - basic | 161,992 | 162,413 | 162,757 | 162,798 | 162,490 | |||||||||
Shares used in per share calculation - diluted | 163,684 | 164,768 | 166,519 | 165,879 | 165,213 | |||||||||
GAAP income from operations | $ | 152,330 | $ | 190,429 | $ | 181,158 | $ | 134,617 | $ | 658,534 | ||||
Amortization of acquired intangible assets | $ | 10,434 | $ | 10,381 | $ | 10,340 | $ | 10,894 | $ | 42,049 | ||||
Stock-based compensation | $ | 47,493 | $ | 49,191 | $ | 50,217 | $ | 50,510 | $ | 197,411 | ||||
Amortization of capitalized stock-based compensation and capitalized interest expense | $ | 8,589 | $ | 8,038 | $ | 7,913 | $ | 8,662 | $ | 33,202 | ||||
Restructuring charge (benefit) | $ | 10,585 | $ | (167) | $ | 21 | $ | 26,847 | $ | 37,286 | ||||
Acquisition-related costs | $ | 76 | $ | 62 | $ | 1,051 | $ | 4,390 | $ | 5,579 | ||||
Legal settlements | $ | - | $ | 275 | $ | - | $ | - | $ | 275 | ||||
Endowment of Akamai Foundation | $ | - | $ | - | $ | - | $ | 20,000 | $ | 20,000 | ||||
Operating adjustments | $ | 77,177 | $ | 67,780 | $ | 69,542 | $ | 121,303 | $ | 335,802 | ||||
Non-GAAP income from operations | $ | 229,507 | $ | 258,209 | $ | 250,700 | $ | 255,920 | $ | 994,336 | ||||
Non-GAAP operating margin | 30 % | 32 % | 32 % | 30 % | 31 % | |||||||||
GAAP net income | $ | 123,146 | $ | 161,915 | $ | 158,623 | $ | 113,370 | $ | 557,054 | ||||
Operating adjustments (from above) | $ | 77,177 | $ | 67,780 | $ | 69,542 | $ | 121,303 | $ | 335,802 | ||||
Amortization of debt discount and issuance costs | $ | 15,633 | $ | 15,677 | $ | 15,747 | $ | 15,766 | $ | 62,823 | ||||
Gain on investments | $ | - | $ | - | $ | - | $ | (7,228) | $ | (7,228) | ||||
Loss from equity method investment | $ | 622 | $ | 493 | $ | 559 | $ | 11,432 | $ | 13,106 | ||||
Income tax-effect of above non-GAAP adjustments and certain discrete tax items | $ | (20,445) | $ | (19,347) | $ | (28,689) | $ | (34,799) | $ | (103,280) | ||||
Non-GAAP net income | $ | 196,133 | $ | 226,518 | $ | 215,782 | $ | 219,844 | $ | 858,277 | ||||
Non-GAAP net income per share - diluted | $ | 1.20 | $ | 1.38 | $ | 1.31 | $ | 1.33 | $ | 5.22 | ||||
Shares used in non-GAAP per share calculation - diluted | 163,684 | 164,115 | 164,787 | 164,774 | 164,340 |
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Akamai Technologies Inc. published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2021 08:03:07 UTC.