Reconciliation of
operating income
(loss) and
operating margin
GAAP operating loss $ (4,466) $ (8,314) $ (20,306) $ (29,836)
Stock-based
compensation
expense 5,635 7,370 21,065 21,956
Amortization of
acquired
intangibles 120 120 359 434
Restructuring
(c) -- 5 -- 973
Facility exit
and transition
costs ((b) () -- -- -- 154
War related
costs(d) -- -- 22 --
----------- ----------- ----------- -----------
Non-GAAP operating
income (loss) $ 1,289 $ (819) $ 1,140 $ (6,319)
=========== =========== =========== ===========
GAAP operating
margin (10)% (19)% (15)% (23)%
Non-GAAP operating
margin 3% (2)% 1% (5)%
Reconciliation of
net loss
GAAP net loss
attributable to
common
stockholders $ (3,610) $ (10,726) $ (24,710) $ (34,299)
Stock-based
compensation
expense 5,635 7,370 21,065 21,956
Amortization of
acquired
intangibles 120 120 359 434
Restructuring
(c) -- 5 -- 973
Facility exit
and transition
costs ((b) () -- -- -- 154
War related
costs(d) -- -- 22 --
Non-GAAP net income
(loss)
attributable to
common
stockholders $ 2,145 $ (3,231) $ (3,264) $ (10,782)
=========== =========== =========== ===========
Non-GAAP net
income (loss)
per share -
basic and
diluted $ 0.01 $ (0.02) $ (0.02) $ (0.08)
=========== =========== =========== ===========
Shares used in
non-GAAP per share
calculations:
GAAP
weighted-average
shares used to
compute net income
per share - basic
and diluted 149,306,274 139,186,364 147,074,320 137,033,800
Weighted average
number of ordinary
shares outstanding
used in computing
basic and diluted
net loss per share
(non-GAAP) 149,306,274 139,186,364 147,074,320 137,033,800
=========== =========== =========== ===========
Adjusted EBITDA (U.S. dollars in thousands)
Three Months Ended Nine Months Ended
September 30, September 30,
2024 2023 2024 2023
------ ------- ------- -------
Net loss $(3,610) $(10,726) $(24,710) $(34,299)
Financial
expenses
(income), net
(a) (2,160) (95) (1,672) (3,047)
Provision for
income taxes 1,304 2,507 6,076 7,510
Depreciation
and
amortization 1,254 1,248 3,834 3,409
------ ------- ------- -------
EBITDA (3,212) (7,066) (16,472) (26,427)
Non-cash
stock-based
compensation
expense 5,635 7,370 21,065 21,956
Facility exit
and
transition
costs (b) -- -- -- 154
Restructuring
(c) -- 5 -- 973
War related
costs (d) -- -- 22 --
------ ------- ------- -------
Adjusted
EBITDA $ 2,423 $ 309 $ 4,615 $ (3,344)
====== ======= ======= =======
(a) The three months ended September 30, 2024 and 2023,
and the nine months ended September 30, 2024, and
2023, include $725, $789, $2,131 and $2,400 respectively,
of interest expenses.
(b) Facility exit and transition costs for the nine months
ended September 30, 2023, include losses from sale
of fixed assets and other costs associated with moving
to our temporary office in Israel.
(c) The three and nine months ended September 30, 2023
include one-time employee termination benefits incurred
in connection with the 2023 Reorganization Plan and
the 2022 Restructuring Plan.
(d) The nine months ended September 30, 2024 include costs
related to conflicts in Israel, attributable to temporary
relocation of key employees from Israel for business
continuity purposes, purchase of emergency equipment
for key employees for business continuity purposes,
and charitable donation to communities directly impacted
by the war.
Reported KPIs
As of September 30,
2024 2023
--- ---------------- ---------------
(U.S. dollars, amounts in thousands)
------------------------------------------
Annualized Recurring Revenue $ 168,879 $ 163,069
Remaining Performance
Obligations $ 187,846 $ 163,995
Three Months Ended September 30,
2024 2023
----------- ------ ---------- -----
Net Dollar Retention Rate 101% 101%
(END) Dow Jones Newswires
November 06, 2024 07:00 ET (12:00 GMT)
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