FY 2025 Revenue of
Fourth Quarter Revenue of
FY 2026 Revenue Growth of 0-4%
FY 2026 Adjusted EBITDA Margin of 30-32%
FY 2026 Adjusted Diluted EPS of
Fourth Quarter Highlights:
- Appointment of
Jon Resnick as Chief Executive Officer and Member of the Board of Directors, effectiveJanuary 1st, 2026 . - Revenue was
$103.6 million , compared to$100.4 million in the fourth quarter of 2024, representing growth of 3%.
- Software revenue was
$46.4 million , compared to$42.3 million in the fourth quarter of 2024, representing growth of 10%. - Services revenue was
$57.3 million , compared to$58.1 million in the fourth quarter of 2024, representing a decrease of 1%.
- Software revenue was
- Net loss was
$5.9 million , compared to a net income of$6.6 million in the fourth quarter of 2024, representing a decrease of 190%. - Adjusted EBITDA was
$32.5 million , compared to$33.5 million in the fourth quarter of 2024, representing a decrease of 3%.
“I am excited to join
“To fully realize our potential, over the course of 2026 we will sharpen our strategic focus, accelerate innovation across our product portfolio, and elevate our commercial execution. It will be a year of transition and investment as we put the right people, processes, and structure in place to position the company to better capture the significant market opportunities and enable the company to drive stronger and sustainable growth.”
“Our full year and fourth quarter revenue performance was in-line with our expectations on both a reported and organic basis. Adjusted EBITDA margin was 32% for the year, at the high end of our plan, driven by operating efficiencies while maintaining investment in R&D,” said
Fourth Quarter 2025 Results
Total revenue for the fourth quarter of 2025 was
Software revenue for the fourth quarter of 2025 was
Services revenue for the fourth quarter of 2025 was
Total Bookings for the fourth quarter of 2025 were
Software Bookings for the fourth quarter of 2025 were
Services Bookings for the fourth quarter of 2025 were
Total cost of revenues for the fourth quarter of 2025 was
Total operating expenses for the fourth quarter of 2025 were
Net loss for the fourth quarter of 2025 was
Diluted earnings per share for the fourth quarter of 2025 was
Adjusted EBITDA for the fourth quarter of 2025 was
Adjusted net income for the fourth quarter of 2025 was
| THREE MONTHS ENDED | TWELVE MONTHS ENDED | |||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||
| Key Financials | (in millions, except per share data) | |||||||||||||
| Revenue | $ | 103.6 | $ | 100.4 | $ | 418.8 | $ | 385.1 | ||||||
| Software revenue | $ | 46.4 | $ | 42.3 | $ | 183.3 | $ | 155.7 | ||||||
| Service revenue | $ | 57.3 | $ | 58.1 | $ | 235.6 | $ | 229.5 | ||||||
| Total bookings | $ | 155.2 | $ | 144.5 | $ | 482.1 | $ | 445.3 | ||||||
| Software bookings | $ | 56.1 | $ | 59.7 | $ | 184.3 | $ | 169.4 | ||||||
| Service bookings | $ | 99.1 | $ | 84.8 | $ | 297.7 | $ | 275.9 | ||||||
| Net income (loss) | $ | (5.9 | ) | $ | 6.6 | $ | (1.6 | ) | $ | (12.1 | ) | |||
| Diluted earnings per share | $ | (0.04 | ) | $ | 0.04 | $ | (0.01 | ) | $ | (0.08 | ) | |||
| Adjusted EBITDA | $ | 32.5 | $ | 33.5 | $ | 134.5 | $ | 122.0 | ||||||
| Adjusted net income | $ | 14.9 | $ | 24.7 | $ | 70.9 | $ | 72.9 | ||||||
| Adjusted diluted earnings per share | $ | 0.09 | $ | 0.15 | $ | 0.44 | $ | 0.45 | ||||||
| Cash and cash equivalents | $ | 189.4 | $ | 179.2 | ||||||||||
2026 Financial Outlook
- Full year 2026 revenue is expected to grow in the range of 0-4%.
- Full year adjusted EBITDA margin to be approximately 30-32%.
- Full year adjusted diluted earnings per share is expected to be in the range of
$0.44 -$0.48 . - Fully diluted shares are expected to be in the range of 160 million to 162 million.
Please note that the Company has not reconciled adjusted EBITDA, adjusted EBITDA margin or adjusted diluted earnings per share forward-looking guidance included in this press release to the most directly comparable GAAP measures because this cannot be done without unreasonable effort due to the variability and low visibility with respect to costs related to acquisitions, financings, and employee stock compensation programs, which are potential adjustments to future earnings. We expect the variability of these items to have a potentially unpredictable, and a potentially significant, impact on our future GAAP financial results.
Webcast and Conference Call Details
About
Please visit our website at www.certara.com. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD.
Such disclosures will be included in the Investor Relations section of our website at https://ir.certara.com. Accordingly, investors should monitor such portion of our website, in addition to following our press releases,
Forward-Looking Statements
This press release contains certain statements that constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, with respect to the Company’s full-year guidance, the stability of end markets, the Company’s ability to improve execution and drive long-term growth, and the Company’s future business and financial performance, revenue, margin, and bookings. These statements typically contain words such as “believe,” “may,” “potential,” “will,” “plan,” “could,” “estimate,” “expects” and “anticipates” or the negative of these words or other similar terms or expressions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement and involves significant risks and uncertainties. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot provide any assurance that these expectations will prove to be correct. You should not rely upon forward-looking statements as predictions of future events and actual results, events, or circumstances. Actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including any deceleration in, or resistance to, the acceptance of model-informed biopharmaceutical discovery and development; our ability to compete within our market; changes or delays in government regulation relating to the biopharmaceutical industry; trends in research and development spending; operational disruptions, funding constraints and policy changes at the
A Note on Non-GAAP Financial Measures
This press release contains “non-GAAP measures” which are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with
You should refer to the footnotes below as well as the “Reconciliation of Non-GAAP Financial Measures” section in this press release below for a further explanation of these measures and reconciliations of these non-GAAP measures in specific periods to their most directly comparable financial measure calculated and presented in accordance with GAAP for those periods.
Management uses various financial metrics, including total revenues, income (loss) from operations, net income (loss), and certain non-GAAP measures, such as adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted diluted earnings per share and CC revenue, to make budgeting decisions, to make certain compensation decisions, and to compare the Company’s performance against that of other peer companies using similar measures. In addition, management believes these metrics provide useful measures for period-to-period comparisons of the Company’s business, as they remove the effect of certain non-cash expenses and other items not indicative of its ongoing operating performance.
Management believes that adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted diluted earnings per share, and CC revenue are helpful to investors, analysts, and other interested parties because they can assist in providing a more consistent and comparable overview of our operations across our historical periods. In addition, these non-GAAP measures are frequently used by analysts, investors, and other interested parties to evaluate and assess performance. Furthermore, our business has operations outside
(1) CC revenue excludes the effects of foreign currency exchange rate fluctuations by assuming constant foreign currency exchange rates used for translation. Current periods revenue reported in currencies other than
(2) Adjusted EBITDA represents net income excluding interest expense, provision for (benefit from) for income taxes, depreciation and amortization expense, intangible asset amortization, equity-based compensation expense, goodwill impairment, change in fair value of contingent consideration, acquisition and integration expense and other items not indicative of our ongoing operating performance. Adjusted EBITDA margin represents adjusted EBITDA divided by revenue.
(3) Adjusted net income and adjusted diluted earnings per share exclude the effect of equity-based compensation expense, amortization of acquisition-related intangible assets, goodwill impairment, change in fair value of contingent consideration, acquisition and integration expense, and other items not indicative of our ongoing operating performance as well as income tax provision adjustment for such charges.
In evaluating adjusted EBITDA, adjusted EBITDA margin, adjusted net income, and adjusted diluted earnings per share, you should be aware that in the future the Company may incur expenses similar to those eliminated in this presentation and this presentation should not be construed as an inference that future results will be unaffected by unusual items.
Contacts:
Investor Relations Contact:
ir@certara.com
Media Contact:
certara@pancomm.com
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) |
| THREE MONTHS ENDED | TWELVE MONTHS ENDED | ||||||||||||||
| (IN THOUSANDS, EXCEPT PER SHARE AND SHARE DATA) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Total revenue | $ | 103,648 | $ | 100,361 | $ | 418,838 | $ | 385,148 | |||||||
| Cost of revenues | 39,171 | 38,263 | 161,126 | 154,516 | |||||||||||
| Operating expenses: | |||||||||||||||
| Sales and marketing | 14,016 | 13,197 | 53,720 | 47,444 | |||||||||||
| Research and development | 11,280 | 7,772 | 41,040 | 37,105 | |||||||||||
| General and administrative | 23,893 | 21,141 | 85,380 | 94,221 | |||||||||||
| Depreciation and amortization expense | 14,452 | 13,985 | 56,556 | 53,593 | |||||||||||
| Total operating expenses | 63,641 | 56,095 | 236,696 | 232,363 | |||||||||||
| Income (loss) from operations | 836 | 6,003 | 21,016 | (1,731 | ) | ||||||||||
| Other income (expenses): | |||||||||||||||
| Interest expense | (5,119 | ) | (5,004 | ) | (19,738 | ) | (21,520 | ) | |||||||
| Net other income | 1,373 | 1,181 | 6,338 | 6,067 | |||||||||||
| Total other expenses | (3,746 | ) | (3,823 | ) | (13,400 | ) | (15,453 | ) | |||||||
| Income (loss) before income taxes | (2,910 | ) | 2,180 | 7,616 | (17,184 | ) | |||||||||
| Provision (benefit) for income taxes | 2,985 | (4,397 | ) | 9,211 | (5,133 | ) | |||||||||
| Net income (loss) attributable to common stockholders: | $ | (5,895 | ) | $ | 6,577 | $ | (1,595 | ) | $ | (12,051 | ) | ||||
| Net income per share attributable to common stockholders: | |||||||||||||||
| Basic | $ | (0.04 | ) | $ | 0.04 | $ | (0.01 | ) | $ | (0.08 | ) | ||||
| Diluted | $ | (0.04 | ) | $ | 0.04 | $ | (0.01 | ) | $ | (0.08 | ) | ||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 159,281,100 | 160,891,458 | 160,394,418 | 160,392,805 | |||||||||||
| Diluted | 159,281,100 | 161,265,650 | 160,394,418 | 160,392,805 | |||||||||||
CONSOLIDATED BALANCE SHEETS (UNAUDITED) |
| (IN THOUSANDS, EXCEPT PER SHARE AND SHARE DATA) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 189,392 | $ | 179,183 | ||||
| Accounts receivable, net of allowances for credit losses of | 103,525 | 102,189 | ||||||
| Prepaid expenses and other current assets | 22,202 | 29,480 | ||||||
| Total current assets | 315,119 | 310,852 | ||||||
| Other assets: | ||||||||
| Property and equipment, net | 1,853 | 2,167 | ||||||
| Operating lease right-of-use assets | 11,939 | 13,841 | ||||||
| 773,311 | 757,038 | |||||||
| Intangible assets, net of | 447,476 | 485,214 | ||||||
| Deferred income taxes | 5,242 | 3,961 | ||||||
| Other long-term assets | 1,642 | 2,031 | ||||||
| Total assets | $ | 1,556,582 | $ | 1,575,104 | ||||
| Liabilities and stockholders' equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 3,426 | $ | 3,502 | ||||
| Accrued expenses | 67,131 | 56,451 | ||||||
| Current portion of deferred revenue | 75,412 | 77,829 | ||||||
| Current portion of long-term debt | 2,963 | 3,000 | ||||||
| Other current liabilities | 4,453 | 5,306 | ||||||
| Total current liabilities | 153,385 | 146,088 | ||||||
| Long-term liabilities: | ||||||||
| Deferred revenue, net of current portion | 2,350 | 1,049 | ||||||
| Deferred income taxes | 34,366 | 40,421 | ||||||
| Operating lease liabilities, net of current portion | 8,438 | 11,166 | ||||||
| Long-term debt, net of current portion and debt discount | 290,131 | 292,425 | ||||||
| Other long-term liabilities | 5,117 | 25,299 | ||||||
| Total liabilities | 493,787 | 516,448 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders' equity | ||||||||
| Preferred shares, | — | — | ||||||
| Common shares, | 1,641 | 1,620 | ||||||
| Additional paid-in capital | 1,255,653 | 1,216,925 | ||||||
| Accumulated deficit | (129,876 | ) | (128,281 | ) | ||||
| Accumulated other comprehensive income(loss) | 2,040 | (13,424 | ) | |||||
| (66,663 | ) | (18,184 | ) | |||||
| Total stockholders' equity | 1,062,795 | 1,058,656 | ||||||
| Total liabilities and stockholders' equity | $ | 1,556,582 | $ | 1,575,104 | ||||
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) |
| TWELVE MONTHS ENDED | ||||||||
| (IN THOUSANDS) | 2025 | 2024 | ||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (1,595 | ) | $ | (12,051 | ) | ||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 75,162 | 68,033 | ||||||
| Amortization of debt issuance costs | 568 | 1,035 | ||||||
| Provision for credit losses | 1,144 | 1,464 | ||||||
| Equity-based compensation expense | 33,079 | 34,774 | ||||||
| Change in fair value of contingent considerations | (3,597 | ) | 8,089 | |||||
| Deferred income taxes | (8,321 | ) | (12,695 | ) | ||||
| Changes in assets and liabilities: | ||||||||
| Accounts receivable | 428 | (16,225 | ) | |||||
| Prepaid expenses and other assets | (902 | ) | (2,873 | ) | ||||
| Accounts payable, accrued expenses, and other liabilities | 4,403 | (4,765 | ) | |||||
| Deferred revenues | (3,018 | ) | 13,834 | |||||
| Other operating activities, net | (1,026 | ) | 1,846 | |||||
| Net cash provided by operating activities | 96,325 | 80,466 | ||||||
| Cash flows from investing activities: | ||||||||
| Capital expenditures | (1,760 | ) | (1,625 | ) | ||||
| Capitalized software development costs | (24,796 | ) | (19,416 | ) | ||||
| Business acquisitions, net of cash acquired | — | (91,327 | ) | |||||
| Net cash used in investing activities | (26,556 | ) | (112,368 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Common stock repurchase program | (42,610 | ) | — | |||||
| Proceeds from borrowings on term loan debt | — | 6,305 | ||||||
| Payment of debt issuance costs | — | (1,216 | ) | |||||
| Payments on long-term debt obligations | (2,991 | ) | (2,255 | ) | ||||
| Payments for business acquisition related contingent consideration | (13,230 | ) | (15,156 | ) | ||||
| Payment of taxes on shares and units withheld for employee taxes | (5,155 | ) | (8,688 | ) | ||||
| Net cash used in financing activities | (63,986 | ) | (21,010 | ) | ||||
| Effect of foreign exchange rate on cash and cash equivalents | 4,426 | (2,856 | ) | |||||
| Net increase (decrease) in cash and cash equivalents | 10,209 | (55,768 | ) | |||||
| Cash and cash equivalents at beginning of period | 179,183 | 234,951 | ||||||
| Cash and cash equivalents at end of period | $ | 189,392 | $ | 179,183 | ||||
NON-GAAP FINANCIAL MEASURES
The following table reconciles net income (loss) to Adjusted EBITDA:
| THREE MONTHS ENDED | TWELVE MONTHS ENDED | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (in thousands) | |||||||||||||||
| Net income (loss)(a) | $ | (5,895 | ) | $ | 6,577 | $ | (1,595 | ) | $ | (12,051 | ) | ||||
| Interest expense(a) | 5,119 | 5,004 | 19,738 | 21,520 | |||||||||||
| Interest income(a) | (1,565 | ) | (1,365 | ) | (5,720 | ) | (9,034 | ) | |||||||
| (Benefit from) Provision for income taxes(a) | 2,985 | (4,397 | ) | 9,211 | (5,133 | ) | |||||||||
| Depreciation and amortization expense(a) | 19,104 | 18,216 | 75,162 | 68,033 | |||||||||||
| Currency (gain) loss(a) | 282 | (182 | ) | (891 | ) | 2,344 | |||||||||
| Equity-based compensation expense(b) | 8,190 | 7,731 | 33,079 | 34,774 | |||||||||||
| Change in fair value of contingent consideration(d) | (385 | ) | (3 | ) | (3,597 | ) | 8,089 | ||||||||
| Acquisition-related expenses(e) | 1,435 | 1,275 | 3,843 | 5,426 | |||||||||||
| Integration expense(f) | 150 | — | 150 | — | |||||||||||
| Transaction-related expenses(g) | 928 | — | 928 | 2,625 | |||||||||||
| Severance expenses(h) | 2,190 | — | 2,190 | 183 | |||||||||||
| Reorganization expense(i) | 116 | 279 | 1,239 | 4,223 | |||||||||||
| Loss on disposal of fixed assets(j) | (60 | ) | 388 | (24 | ) | 401 | |||||||||
| Executive recruiting expense(k) | — | 1 | 661 | 646 | |||||||||||
| Litigation and settlement expense(l) | (127 | ) | — | 119 | — | ||||||||||
| Adjusted EBITDA | $ | 32,467 | $ | 33,524 | $ | 134,493 | $ | 122,046 | |||||||
The following table reconciles net income (loss) to adjusted net income:
| THREE MONTHS ENDED | TWELVE MONTHS ENDED | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| ( in thousands) | |||||||||||||||
| Net income (loss) (a) | $ | (5,895 | ) | $ | 6,577 | $ | (1,595 | ) | $ | (12,051 | ) | ||||
| Currency (gain) loss(a) | 282 | (182 | ) | (891 | ) | 2,344 | |||||||||
| Equity-based compensation expense(b) | 8,190 | 7,731 | 33,079 | 34,774 | |||||||||||
| Amortization of acquisition-related intangible assets(c) | 14,104 | 14,390 | 56,224 | 54,431 | |||||||||||
| Change in fair value of contingent consideration(d) | (385 | ) | (3 | ) | (3,597 | ) | 8,089 | ||||||||
| Acquisition-related expenses(e) | 1,435 | 1,275 | 3,843 | 5,426 | |||||||||||
| Integration expense(f) | 150 | — | 150 | — | |||||||||||
| Transaction-related expenses(g) | 928 | — | 928 | 2,625 | |||||||||||
| Severance expenses(h) | 2,190 | — | 2,190 | 183 | |||||||||||
| Reorganization expense(i) | 116 | 279 | 1,239 | 4,223 | |||||||||||
| Loss on disposal of fixed assets(j) | (60 | ) | 388 | (24 | ) | 401 | |||||||||
| Executive recruiting expense(k) | — | 1 | 661 | 646 | |||||||||||
| Litigation and settlement expense(l) | (127 | ) | — | 119 | — | ||||||||||
| Income tax expense impact of adjustments(m) | (6,060 | ) | (5,778 | ) | (21,408 | ) | (28,220 | ) | |||||||
| Adjusted net income | $ | 14,868 | $ | 24,678 | $ | 70,918 | $ | 72,871 | |||||||
The following tables reconciles diluted earnings per share to adjusted diluted earnings per share:
| THREE MONTHS ENDED | TWELVE MONTHS ENDED | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net income (loss) (a) | $ | (0.04 | ) | $ | 0.04 | $ | (0.01 | ) | $ | (0.08 | ) | ||||
| Currency (gain) loss(a) | - | - | (0.01 | ) | 0.02 | ||||||||||
| Equity-based compensation expense(b) | 0.05 | 0.05 | 0.21 | 0.22 | |||||||||||
| Amortization of acquisition-related intangible assets(c) | 0.09 | 0.09 | 0.35 | 0.34 | |||||||||||
| Change in fair value of contingent consideration(d) | - | - | (0.02 | ) | 0.05 | ||||||||||
| Acquisition-related expenses(e) | 0.01 | 0.01 | 0.02 | 0.03 | |||||||||||
| Integration expense(f) | - | - | - | - | |||||||||||
| Transaction-related expenses(g) | 0.01 | - | 0.01 | 0.02 | |||||||||||
| Severance expenses(h) | 0.01 | - | 0.01 | - | |||||||||||
| Reorganization expense(i) | - | - | 0.01 | 0.03 | |||||||||||
| Loss on disposal of fixed assets(j) | - | - | - | - | |||||||||||
| Executive recruiting expense(k) | - | - | - | - | |||||||||||
| Litigation and settlement expense(l) | - | ||||||||||||||
| Income tax expense impact of adjustments(m) | (0.04 | ) | (0.04 | ) | (0.13 | ) | (0.18 | ) | |||||||
| Adjusted Diluted Earnings Per Share | $ | 0.09 | $ | 0.15 | $ | 0.44 | $ | 0.45 | |||||||
| Basic weighted average common shares outstanding | 159,281,100 | 160,891,458 | 160,394,418 | 160,392,805 | |||||||||||
| Effect of potentially dilutive shares outstanding (n) | 518,071 | 374,192 | 500,271 | 635,547 | |||||||||||
| Adjusted diluted weighted average common shares outstanding | 159,799,171 | 161,265,650 | 160,894,689 | 161,028,352 | |||||||||||
The following tables reconcile revenues to the revenues adjusted for constant currency:
| THREE MONTHS ENDED | Change | ||||||||||||||||||||||
| 2025 | 2025 | 2024 | $ | % | $ | % | |||||||||||||||||
| Actual | CC | Actual | Actual | Actual | CC Impact | ||||||||||||||||||
| (GAAP) | (non-GAAP) | (GAAP) | (GAAP) | (GAAP) | (non-GAAP) | (non-GAAP) | |||||||||||||||||
| (in thousands except percentage) | |||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||
| Software | $ | 46,381 | $ | 45,695 | $ | 42,270 | $ | 4,111 | 10 | % | $ | (686 | ) | 8 | % | ||||||||
| Services | 57,267 | 56,885 | 58,091 | (824 | ) | -1 | % | (382 | ) | -2 | % | ||||||||||||
| Total Revenue | $ | 103,648 | $ | 102,580 | $ | 100,361 | $ | 3,287 | 3 | % | $ | (1,068 | ) | 2 | % | ||||||||
| TWELVE MONTHS ENDED | Change | |||||||||||||||||||||
| 2025 | 2025 | 2024 | $ | % | $ | % | ||||||||||||||||
| Actual | CC | Actual | Actual | Actual | CC Impact | |||||||||||||||||
| (GAAP) | (non-GAAP) | (GAAP) | (GAAP) | (GAAP) | (non-GAAP) | (non-GAAP) | ||||||||||||||||
| (in thousands except percentage) | ||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||
| Software | $ | 183,275 | $ | 181,795 | $ | 155,696 | $ | 27,579 | 18 | % | $ | (1,480 | ) | 17 | % | |||||||
| Services | 235,563 | 234,213 | 229,452 | 6,111 | 3 | % | (1,350 | ) | 2 | % | ||||||||||||
| Total Revenue | $ | 418,838 | $ | 416,008 | $ | 385,148 | $ | 33,690 | 9 | % | $ | (2,830 | ) | 8 | % | |||||||
(a.) Represents a measure determined under GAAP.
(b.) Represents expense related to equity-based compensation. Equity-based compensation has been, and will continue to be for the foreseeable future, a recurring expense in our business and an important part of our compensation strategy.
(c.) Represents amortization costs associated with acquired intangible assets in connection with business acquisitions.
(d.) Represents expense associated with remeasuring fair value of contingent consideration of business acquisition.
(e.) Represents costs associated with mergers and acquisitions and any retention bonuses pursuant to the acquisitions.
(f.) Represents integration costs related to post-acquisition integration activities.
(g.) Represents costs associated with our public offerings that are not capitalized, as well as debt issuance costs that are not deferred or treated as a contra-liability directly deducted from the carrying value of the associated debt liability.
(h.) Represents charges for severance provided to former executives.
(i.) Represents expenses related to reorganization, including legal entity reorganization and lease abandonment costs associated with the evaluation of our office space footprint.
(j.) Represents the gain/loss related to disposal of fixed assets.
(k.) Represents recruiting and relocation expenses related to hiring senior executives.
(l.) Represents expense related to a non-recurring employment litigation and settlement outside the normal course of business.
(m.) Represents the income tax effect of the non-GAAP adjustments calculated using the applicable statutory rate by jurisdiction.
(n.) Represents potentially dilutive shares that were included from our GAAP diluted weighted average common shares outstanding.
