Second Quarter 2021 GAAP Results |
Second Quarter 2021 Non-GAAP Results(1)
| |||||
Amount ($ millions) |
Year/Year Growth (%) |
Amount ($ millions) |
Year/Year Growth (%) |
Adjusted Amount ($ millions)(2) | Adjusted Year/Year Growth (%) | |
Subscription revenues | $1,330 | 31 | % | $1,285 | 27 | % |
Professional services and other revenues | $79 | 41 | % | $76 | 36 | % |
Total revenues | $1,409 | 32 | % | $1,362 | 27 | % |
Subscription billings | $1,328 | 30 | % | $1,275 | 25 | % |
Professional services and other billings | $89 | 44 | % | $86 | 39 | % |
Total billings | $1,417 | 31 | % | $1,361 | 26 | % |
Amount ($ billions) |
Year/Year Growth (%) |
Adjusted Amount ($ billions)(2) | Adjusted Year/Year Growth (%) | |||
cRPO | $4.7 | 34 | % | $4.6 | 31 | % |
RPO | $9.5 | 35 | % | $9.3 | 32 | % |
Amount ($ millions) | Margin (%) |
Amount ($ millions) | Margin (%) | |||
Subscription gross profit | $1,082 | 81 | % | $1,129 | 85 | % |
Professional services and other gross profit (loss) | ($2) | (3 | %) | $13 | 17 | % |
Total gross profit | $1,080 | 77 | % | $1,142 | 81 | % |
Income from operations | $51 | 4 | % | $353 | 25 | % |
Net cash provided by operating activities | $300 | 21 | % | |||
Free cash flow | $268 | 19 | % | |||
Amount ($ millions) | Earnings per Basic/Diluted Share ($) |
Amount ($ millions) | Earnings per Basic/Diluted Share ($) | |||
Net income | $59 | $0.30/ $0.29 | $287 | $1.45/ $1.42 |
Third Quarter 2021 GAAP Guidance |
Third Quarter 2021 Non-GAAP Guidance(1)
| ||
Amount ($ millions)(2) |
Year/Year Growth (%) |
Amount ($ millions)(2) |
Year/Year Growth (%) |
Subscription revenues | $1,400 - $1,405 | 28% -29% | |
Note: Includes foreign currency benefit of $15 million | |||
Subscription billings | $1,320 - $1,325 | 22% - 23% | |
Note: Includes foreign currency benefit of $14 million Includes negative impact of billings duration of $7 million | |||
cRPO | 30 | % | |
Margin (%) | |||
Income from operations | 23.0 % | ||
Amount (millions) | |||
Weighted-average shares used to compute diluted net income per share | 202 |
Full-Year 2021 GAAP Guidance |
Full-Year 2021 Non-GAAP Guidance(1)
| ||
Amount ($ millions)(2) |
Year/Year Growth (%) |
Amount ($ millions)(2) |
Year/Year Growth (%) |
Subscription revenues | $5,530 - $5,540 | 29 | % |
Note: Includes foreign currency benefit of $101 million | |||
Subscription billings | $6,315 - $6,325 | 27 | % |
Note: Includes foreign currency benefit of $104 million Includes positive impact of billings duration of $6 million | |||
Margin (%) | |||
Subscription gross profit | 85 % | ||
Income from operations | 24.5 % | ||
Free cash flow | 31.0 % | ||
Amount (millions) | |||
Weighted-average shares used to compute diluted net income per share | 202 |
Three Months Ended | Six Months Ended | |||||||
June 30, 2021 | June 30, 2020 | June 30, 2021 | June 30, 2020 | |||||
Revenues: | ||||||||
Subscription | $ | 1,330 | $ | 1,015 | $ | 2,623 | $ | 2,010 |
Professional services and other | 79 | 56 | 146 | 107 | ||||
Total revenues | 1,409 | 1,071 | 2,769 | 2,117 | ||||
Cost of revenues (1):
| ||||||||
Subscription | 248 | 172 | 476 | 332 | ||||
Professional services and other | 81 | 61 | 152 | 124 | ||||
Total cost of revenues | 329 | 233 | 628 | 456 | ||||
Gross profit | 1,080 | 838 | 2,141 | 1,661 | ||||
Operating expenses (1):
| ||||||||
Sales and marketing | 557 | 426 | 1,081 | 867 | ||||
Research and development | 333 | 245 | 647 | 472 | ||||
General and administrative | 139 | 104 | 265 | 210 | ||||
Total operating expenses | 1,029 | 775 | 1,993 | 1,549 | ||||
Income from operations | 51 | 63 | 148 | 112 | ||||
Interest expense | (7) | (8) | (14) | (17) | ||||
Other income, net | 6 | 7 | 15 | 15 | ||||
Income before income taxes | 50 | 62 | 149 | 110 | ||||
Provision for (benefit from) income taxes | (9) | 21 | 8 | 21 | ||||
Net income | $ | 59 | $ | 41 | $ | 141 | $ | 89 |
Net income per share - basic | $ | 0.30 | $ | 0.21 | $ | 0.71 | $ | 0.47 |
Net income per share - diluted | $ | 0.29 | $ | 0.20 | $ | 0.70 | $ | 0.44 |
Weighted-average shares used to compute net income per share - basic | 198 | 191 | 197 | 191 | ||||
Weighted-average shares used to compute net income per share - diluted | 202 | 201 | 202 | 201 |
Three Months Ended | Six Months Ended | |||||||
June 30, 2021 | June 30, 2020 | June 30, 2021 | June 30, 2020 | |||||
Cost of revenues: | ||||||||
Subscription | $ | 33 | $ | 25 | $ | 62 | $ | 46 |
Professional services and other | 15 | 13 | 28 | 25 | ||||
Operating expenses: | ||||||||
Sales and marketing | 99 | 79 | 192 | 149 | ||||
Research and development | 98 | 70 | 186 | 129 | ||||
General and administrative | 37 | 30 | 70 | 56 |
June 30, 2021 | December 31, 2020 | |||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 1,362 | $ | 1,677 |
Short-term investments | 1,622 | 1,415 | ||
Accounts receivable, net | 781 | 1,009 | ||
Current portion of deferred commissions | 255 | 229 | ||
Prepaid expenses and other current assets | 205 | 192 | ||
Total current assets | 4,225 | 4,522 | ||
Deferred commissions, less current portion | 494 | 444 | ||
Long-term investments | 1,350 | 1,468 | ||
Property and equipment, net | 732 | 660 | ||
Operating lease right-of-use assets | 466 | 454 | ||
Intangible assets, net | 310 | 153 | ||
Goodwill | 793 | 241 | ||
Deferred tax assets | 665 | 673 | ||
Other assets | 152 | 100 | ||
Total assets | $ | 9,187 | $ | 8,715 |
Liabilities and Stockholders' Equity | ||||
Current liabilities: | ||||
Accounts payable | $ | 98 | $ | 34 |
Accrued expenses and other current liabilities | 608 | 668 | ||
Current portion of deferred revenue | 3,023 | 2,963 | ||
Current portion of operating lease liabilities | 80 | 72 | ||
Current debt, net | 99 | - | ||
Total current liabilities | 3,908 | 3,737 | ||
Deferred revenue, less current portion | 49 | 45 | ||
Operating lease liabilities, less current portion | 427 | 423 | ||
Long-term debt, net | 1,483 | 1,640 | ||
Other long-term liabilities | 45 | 36 | ||
Stockholders' equity | 3,275 | 2,834 | ||
Total liabilities and stockholders' equity | $ | 9,187 | $ | 8,715 |
Three Months Ended | Six Months Ended | |||||||
June 30, 2021 | June 30, 2020 | June 30, 2021 | June 30, 2020 | |||||
Cash flows from operating activities: | ||||||||
Net income | $ | 59 | $ | 41 | $ | 141 | $ | 89 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | 115 | 83 | 221 | 159 | ||||
Amortization of deferred commissions | 70 | 52 | 136 | 101 | ||||
Stock-based compensation | 281 | 217 | 537 | 405 | ||||
Deferred income taxes | (17) | (1) | (16) | (3) | ||||
Repayments of convertible senior notes attributable to debt discount | (6) | (2) | (13) | (2) | ||||
Other | 5 | 4 | 22 | 16 | ||||
Changes in operating assets and liabilities, net of effect of business combinations: | ||||||||
Accounts receivable | (130) | (9) | 224 | 200 | ||||
Deferred commissions | (103) | (73) | (217) | (144) | ||||
Prepaid expenses and other assets | (54) | (12) | (57) | (32) | ||||
Accounts payable | (14) | 17 | 75 | 38 | ||||
Deferred revenue | 10 | 9 | 85 | 69 | ||||
Accrued expenses and other liabilities | 84 | 42 | (111) | (36) | ||||
Net cash provided by operating activities | 300 | 368 | 1,027 | 860 | ||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (91) | (110) | (198) | (194) | ||||
Business combinations, net of cash acquired | (513) | - | (738) | (83) | ||||
Purchases of investments | (495) | (580) | (1,139) | (1,108) | ||||
Sales and maturities of investments | 491 | 453 | 1,023 | 766 | ||||
Other | (6) | (6) | 1 | (9) | ||||
Net cash used in investing activities | (614) | (243) | (1,051) | (628) | ||||
Cash flows from financing activities: | ||||||||
Repayments of convertible senior notes attributable to principal | (25) | (14) | (53) | (16) | ||||
Proceeds from employee stock plans | - | 24 | 95 | 91 | ||||
Taxes paid related to net share settlement of equity awards | (124) | (113) | (315) | (239) | ||||
Net cash used in financing activities | (149) | (103) | (273) | (164) | ||||
Foreign currency effect on cash, cash equivalents and restricted cash | 7 | 6 | (11) | (5) | ||||
Net change in cash, cash equivalents and restricted cash | (456) | 28 | (308) | 63 | ||||
Cash, cash equivalents and restricted cash at beginning of period | 1,827 | 813 | 1,679 | 778 | ||||
Cash, cash equivalents and restricted cash at end of period | $ | 1,371 | $ | 841 | $ | 1,371 | $ | 841 |
Three Months Ended | Six Months Ended | |||||||||
June 30, 2021 | June 30, 2020 | Growth Rates | June 30, 2021 | June 30, 2020 | Growth Rates | |||||
Subscription revenues: | ||||||||||
GAAP subscription revenues | $ | 1,330 | $ | 1,015 | 31% | $ | 2,623 | $ | 2,010 | 30% |
Effects of foreign currency rate fluctuations | (45) | (82) | ||||||||
Non-GAAP adjusted subscription revenues(1)
| $ | 1,285 | 27% | $ | 2,541 | 26% | ||||
Professional services and other revenues: | ||||||||||
GAAP professional services and other revenues | $ | 79 | $ | 56 | 41% | $ | 146 | $ | 107 | 36% |
Effects of foreign currency rate fluctuations | (3) | (5) | ||||||||
Non-GAAP adjusted professional service and other revenues(1)
| $ | 76 | 36% | $ | 141 | 32% | ||||
Total revenues: | ||||||||||
GAAP total revenues | $ | 1,409 | $ | 1,071 | 32% | $ | 2,769 | $ | 2,117 | 31% |
Effects of foreign currency rate fluctuations | (47) | (86) | ||||||||
Non-GAAP adjusted total revenues(1)
| $ | 1,362 | 27% | $ | 2,683 | 27% | ||||
cRPO (in billions): | ||||||||||
GAAP cRPO | $ | 4.7 | $ | 3.5 | 34% | $ | 4.7 | $ | 3.5 | 34% |
Effects of foreign currency rate fluctuations | (0.1) | (0.1) | ||||||||
Non-GAAP adjusted cRPO(1)
| $ | 4.6 | 31% | $ | 4.6 | 31% | ||||
RPO (in billions): | ||||||||||
GAAP RPO | $ | 9.5 | $ | 7.0 | 35% | $ | 9.5 | $ | 7.0 | 35% |
Effects of foreign currency rate fluctuations | (0.2) | (0.2) | ||||||||
Non-GAAP adjusted RPO(1)
| $ | 9.3 | 32% | $ | 9.3 | 32% | ||||
Subscription billings: | ||||||||||
GAAP subscription revenues | $ | 1,330 | $ | 1,015 | 31% | $ | 2,623 | $ | 2,010 | 30% |
Change in subscription deferred revenue, unbilled receivables and customer deposits | (2) | 3 | 70 | 63 | ||||||
Non-GAAP subscription billings | 1,328 | 1,018 | 30% | 2,693 | 2,073 | 30% | ||||
Effects of foreign currency rate fluctuations | (44) | (83) | ||||||||
Effects of fluctuations in billings duration | (9) | (20) | ||||||||
Non-GAAP adjusted subscription billings(2)
| $ | 1,275 | 25% | $ | 2,590 | 25% | ||||
Professional services and other billings: | ||||||||||
GAAP professional services and other revenues | $ | 79 | $ | 56 | 41% | $ | 146 | $ | 107 | 36% |
Change in professional services and other deferred revenue | 10 | 6 | $ | 12 | $ | 2 | ||||
Non-GAAP professional services and other billings | 89 | 62 | 44% | 158 | 109 | 45% | ||||
Effects of foreign currency rate fluctuations | (3) | |||||||||
Non-GAAP adjusted professional services and other billings(2)
| $ | 86 | 39% | $ | 153 | 40% | ||||
Total billings: | ||||||||||
GAAP total revenues | $ | 1,409 | $ | 1,071 | 32% | $ | 2,769 | $ | 2,117 | 31% |
Change in total deferred revenue, unbilled receivables and customer deposits | 8 | 8 | 83 | 65 | ||||||
Non-GAAP total billings | 1,417 | 1,079 | 31% | 2,852 | 2,182 | 31% | ||||
Effects of foreign currency rate fluctuations | (47) | (88) | ||||||||
Effects of fluctuations in billings duration | (9) | (20) | ||||||||
Non-GAAP adjusted total billings(2)
| $ | 1,361 | 26% | $ | 2,744 | 26% | ||||
Cost of revenues: | ||||||||||
GAAP subscription cost of revenues | $ | 248 | $ | 172 | $ | 476 | $ | 332 | ||
Stock-based compensation | (33) | (25) | (62) | (46) | ||||||
Amortization of purchased intangibles | (14) | (12) | (26) | (19) | ||||||
Non-GAAP subscription cost of revenues | $ | 201 | $ | 135 | $ | 388 | $ | 267 | ||
GAAP professional services and other cost of revenues | $ | 81 | $ | 61 | $ | 152 | $ | 124 | ||
Stock-based compensation | (15) | (13) | (28) | (25) | ||||||
Non-GAAP professional services and other cost of revenues | $ | 66 | $ | 48 | $ | 124 | $ | 99 | ||
Gross profit: | ||||||||||
GAAP subscription gross profit | $ | 1,082 | $ | 843 | $ | 2,147 | $ | 1,678 | ||
Stock-based compensation | 33 | 25 | 62 | 46 | ||||||
Amortization of purchased intangibles | 14 | 12 | 26 | 19 | ||||||
Non-GAAP subscription gross profit | $ | 1,129 | $ | 880 | $ | 2,235 | $ | 1,743 | ||
GAAP professional services and other gross loss | $ | (2) | $ | (5) | $ | (6) | $ | (17) | ||
Stock-based compensation | 15 | 13 | 28 | 25 | ||||||
Non-GAAP professional services and other gross profit | $ | 13 | $ | 8 | $ | 22 | $ | 8 | ||
GAAP gross profit | $ | 1,080 | $ | 838 | $ | 2,141 | $ | 1,661 | ||
Stock-based compensation | 48 | 38 | 90 | 71 | ||||||
Amortization of purchased intangibles | 14 | 12 | 26 | 19 | ||||||
Non-GAAP gross profit | $ | 1,142 | $ | 888 | $ | 2,257 | $ | 1,751 | ||
Gross margin: | ||||||||||
GAAP subscription gross margin | 81 | % | 83 | % | 82 | % | 83 | % | ||
Stock-based compensation as % of subscription revenues | 3 | % | 3 | % | 2 | % | 3 | % | ||
Amortization of purchased intangibles as % of subscription revenues | 1 | % | 1 | % | 1 | % | 1 | % | ||
Non-GAAP subscription gross margin | 85 | % | 87 | % | 85 | % | 87 | % | ||
GAAP professional services and other gross margin | (3 | %) | (9 | %) | (4 | %) | (16 | %) | ||
Stock-based compensation as % of professional services and other revenues | 19 | % | 23 | % | 19 | % | 23 | % | ||
Non-GAAP professional services and other gross margin | 17 | % | 14 | % | 15 | % | 7 | % | ||
GAAP gross margin | 77 | % | 78 | % | 77 | % | 78 | % | ||
Stock-based compensation as % of total revenues | 3 | % | 4 | % | 3 | % | 4 | % | ||
Amortization of purchased intangibles as % of total revenues | 1 | % | 1 | % | 1 | % | 1 | % | ||
Non-GAAP gross margin | 81 | % | 83 | % | 81 | % | 83 | % | ||
Operating expenses: | ||||||||||
GAAP sales and marketing expenses | $ | 557 | $ | 426 | $ | 1,081 | $ | 867 | ||
Stock-based compensation | (99) | (79) | (192) | (149) | ||||||
Amortization of purchased intangibles | - | - | (1) | (1) | ||||||
Non-GAAP sales and marketing expenses | $ | 458 | $ | 347 | $ | 888 | $ | 717 | ||
GAAP research and development expenses | $ | 333 | $ | 245 | $ | 647 | $ | 472 | ||
Stock-based compensation | (98) | (70) | (186) | (129) | ||||||
Amortization of purchased intangibles | - | - | - | (1) | ||||||
Business combination and other related costs | $ | (1) | $ | - | $ | (1) | $ | - | ||
Non-GAAP research and development expenses | $ | 234 | $ | 175 | $ | 460 | $ | 342 | ||
GAAP general and administrative expenses | $ | 139 | $ | 104 | $ | 265 | $ | 210 | ||
Stock-based compensation | (37) | (30) | (70) | (56) | ||||||
Amortization of purchased intangibles | (2) | (2) | (6) | (5) | ||||||
Business combination and other related costs | (3) | (1) | (5) | (4) | ||||||
Non-GAAP general and administrative expenses | $ | 97 | $ | 71 | $ | 184 | $ | 145 | ||
GAAP total operating expenses | $ | 1,029 | $ | 775 | $ | 1,993 | $ | 1,549 | ||
Stock-based compensation | (234) | (179) | (448) | (334) | ||||||
Amortization of purchased intangibles | (2) | (3) | (7) | (6) | ||||||
Business combination and other related costs | (4) | (1) | (6) | (4) | ||||||
Non-GAAP total operating expenses | $ | 789 | $ | 592 | $ | 1,532 | $ | 1,205 | ||
Income from operations: | ||||||||||
GAAP income from operations | $ | 51 | $ | 63 | $ | 148 | $ | 112 | ||
Stock-based compensation | 282 | 217 | 538 | 405 | ||||||
Amortization of purchased intangibles | 16 | 15 | 33 | 25 | ||||||
Business combination and other related costs | 4 | 1 | 6 | 4 | ||||||
Non-GAAP income from operations | $ | 353 | $ | 296 | $ | 725 | $ | 546 | ||
Operating margin: | ||||||||||
GAAP operating margin | 4 | % | 6 | % | 5 | % | 5 | % | ||
Stock-based compensation as % of total revenues | 20 | % | 20 | % | 19 | % | 19 | % | ||
Amortization of purchased intangibles as % of total revenues | 1 | % | 2 | % | 1 | % | 2 | % | ||
Business combination and other related costs as % of total revenues | - | % | - | % | 1 | % | - | % | ||
Non-GAAP operating margin | 25 | % | 28 | % | 26 | % | 26 | % | ||
Net income: | ||||||||||
GAAP net income | $ | 59 | $ | 41 | $ | 141 | $ | 89 | ||
Stock-based compensation | 282 | 217 | 538 | 405 | ||||||
Amortization of purchased intangibles | 16 | 15 | 33 | 25 | ||||||
Business combination and other related costs | 4 | 1 | 6 | 4 | ||||||
Amortization of debt discount and issuance costs | 2 | 8 | 4 | 17 | ||||||
Other | 1 | 1 | 3 | 1 | ||||||
Income tax expense effects related to the above adjustments | (77) | (39) | (132) | (91) | ||||||
Non-GAAP net income | $ | 287 | $ | 243 | $ | 593 | $ | 450 | ||
Net income per share - basic and diluted: | ||||||||||
GAAP net income per share - basic | $ | 0.30 | $ | 0.21 | $ | 0.71 | $ | 0.47 | ||
GAAP net income per share - diluted | $ | 0.29 | $ | 0.20 | $ | 0.70 | $ | 0.44 | ||
Non-GAAP net income per share - basic | $ | 1.45 | $ | 1.27 | $ | 3.01 | $ | 2.36 | ||
Non-GAAP net income per share - diluted | $ | 1.42 | $ | 1.23 | $ | 2.93 | $ | 2.27 | ||
GAAP weighted-average shares used to compute net income per share - basic | 198 | 191 | 197 | 191 | ||||||
GAAP weighted-average shares used to compute net income per share - diluted | 202 | 201 | 202 | 201 | ||||||
Effects of in-the-money portion of convertible senior notes(3)
| - | (3) | - | (3) | ||||||
Non-GAAP weighted-average shares used to compute net income per share - diluted | 202 | 198 | 202 | 198 | ||||||
Free cash flow: | ||||||||||
GAAP net cash provided by operating activities | $ | 300 | $ | 368 | $ | 1,027 | $ | 860 | ||
Purchases of property and equipment | (91) | (110) | (198) | (194) | ||||||
Repayments of convertible senior notes attributable to debt discount | 6 | 2 | 13 | 2 | ||||||
Business combination and other related costs | 53 | - | 53 | - | ||||||
Non-GAAP free cash flow | $ | 268 | $ | 259 | $ | 895 | $ | 668 | ||
Free cash flow margin: | ||||||||||
GAAP net cash provided by operating activities as % of total revenues | 21 | % | 34 | % | 37 | % | 41 | % | ||
Purchases of property and equipment as % of total revenues | (6 | %) | (10 | %) | (7 | %) | (9 | %) | ||
Repayments of convertible senior notes attributable to debt discount as % of total revenues | - | % | - | % | - | % | - | % | ||
Business combination and other related costs as % of total revenues | 4 | % | - | % | 2 | % | - | % | ||
Non-GAAP free cash flow margin | 19 | % | 24 | % | 32 | % | 32 | % |
Three Months Ended | |||
September 30, 2021 |
September 30, 2020(3)
| Growth Rates | |
GAAP subscription revenues | $1,400 - $1,405 million | $1,091 million | 28% -29% |
Note: Includes foreign currency benefit of $15 million | |||
GAAP subscription revenues | $1,400 - $1,405 million | $1,091 million | 28% -29% |
Change in subscription deferred revenue, unbilled receivables and customer deposits | (80) million | (10) million | |
Non-GAAP subscription billings | $1,320 - $1,325 million | $1,081 million | 22% - 23% |
Note: Includes foreign currency benefit of $14 million Includes negative impact of billings duration of $7 million | |||
cRPO Year-over-year growth | 30% | ||
GAAP operating margin | 2.5 % | ||
Stock-based compensation expense as % of total revenues | 19 % | ||
Amortization of purchased intangibles as % of total revenues | 1 % | ||
Business combination and other related costs as % of total revenues | 0 % | ||
Non-GAAP operating margin | 23.0 % | ||
GAAP weighted-average shares used to compute net income per share - diluted | 203 million | ||
Effects of in-the-money portion of convertible senior notes(4)
| (1) million | ||
Non-GAAP weighted-average shares used to compute net income per share - diluted | 202 million | ||
Twelve Months Ended | |||
December 31, 2021 |
December 31, 2020(3)
| Growth Rates | |
GAAP subscription revenues | $5,530 - $5,540 million | $4,286 million | 29% |
Note: Includes foreign currency benefit of $101 million | |||
GAAP subscription revenues | $5,530 - $5,540 million | $4,286 million | 29% |
Change in subscription deferred revenue, unbilled receivables and customer deposits | 785 million | 696 million | |
Non-GAAP subscription billings | $6,315 - $6,325 million | $4,982 million | 27% |
Note: Includes foreign currency benefit of $104 million Includes positive impact of billings duration of $6 million | |||
GAAP subscription gross margin | 82 % | ||
Stock-based compensation expense as % of subscription revenues | 2 % | ||
Amortization of purchased intangibles as % of subscription revenues | 1 % | ||
Non-GAAP subscription margin | 85 % | ||
GAAP operating margin | 4.3 % | ||
Stock-based compensation expense as % of total revenues | 19 % | ||
Amortization of purchased intangibles as % of total revenues | 1 % | ||
Business combination and other related costs as % of total revenues | 0 % | ||
Non-GAAP operating margin | 24.5 % | ||
GAAP net cash provided by operating activities as % of total revenues | 37 % | ||
Purchases of property and equipment as % of total revenues | (7%) | ||
Repayments of convertible senior notes attributable to debt discount as % of total revenues | 0 % | ||
Business combination and other related costs as % of total revenues | 1 % | ||
Non-GAAP free cash flow margin | 31.0 % | ||
GAAP weighted-average shares used to compute net income per share - diluted | 202 million | ||
Effects of in-the-money portion of convertible senior notes(4)
| (1) million | ||
Non-GAAP weighted-average shares used to compute net income per share - diluted | 202 million |
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ServiceNow Inc. published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 20:33:17 UTC.