Dynatrace Reports First Quarter of Fiscal Year 2022 Financial Results

  • ARR of $823 million, up 37% year-over-year, or 32% on a constant currency basis
  • Subscription revenue of $197 million, up 36% year-over-year, or 30% on a constant currency basis
  • GAAP EPS of $0.05 and non-GAAP EPS of $0.16, on a dilutive basis

Software intelligence company Dynatrace (NYSE: DT) today released financial results for the first quarter of its fiscal 2022 ended June 30, 2021.

“We are pleased with our strong first quarter results, once again exceeding guidance across all our key metrics, led by ARR growth of 37% year-over-year,” said John Van Siclen, Dynatrace’s CEO. “The unique value of combining the broadest cloud observability with powerful automation and AIOps capabilities continues to resonate with customers as they accelerate their digital transformation and modern cloud initiatives.”

First Quarter Fiscal 2022 and Other Recent Business Highlights:

All growth rates are compared to the first quarter of fiscal 2021 unless otherwise noted.

Financial Highlights:

  • Total ARR of $823 million, an increase of 37%, or 32% on a constant currency basis
  • Total Revenue of $210 million, an increase of 35%, or 29% on a constant currency basis
  • Subscription revenue of $197 million, an increase of 36%, or 30% on a constant currency basis, and representing 94% of total revenue
  • GAAP Operating Income of $21 million and Non-GAAP Operating Income of $54 million
  • GAAP EPS of $0.05 and non-GAAP EPS of $0.16, on a dilutive basis

Business Highlights:

  • Enhanced Application Security Module with Davis Security Advisor, which provides continuous and intelligent vulnerability scoring to address the most critical issues with greater confidence and efficiency and preserves more time to drive innovation.
  • Awarded the AWS Government Competency, recognizing Dynatrace’s experience and success enabling civilian agencies, the national defense and intelligence communities, and state and local governments around the world to accelerate digital innovation on AWS.
  • Expanded support for OpenTelemetry to enable data ingest both with and without agents, providing developers and SREs flexibility to use OpenTel with any data source or use case and leverage Dynatrace’s AIOps capabilities to efficiently integrate, analyze and manage cloud environments.

First Quarter 2022 Financial Highlights

(Unaudited – in thousands, except per share data)

 

 

Three Months Ended June 30,

 

2021

 

2020

Key Operating Metric:

 

 

 

Annualized recurring revenue

$

823,222

 

 

$

601,376

 

Year-over-Year Increase

37

%

 

 

 

 

 

 

Annualized recurring revenue - constant currency (*)

$

793,675

 

 

$

601,376

 

Year-over-Year Increase

32

%

 

 

 

 

 

 

Revenue:

 

 

 

Total revenue

$

209,740

 

 

$

155,508

 

Year-over-Year Increase

35

%

 

 

 

 

 

 

Total revenue - constant currency (*)

$

200,865

 

 

$

155,508

 

Year-over-Year Increase

29

%

 

 

 

 

 

 

Subscription revenue

$

196,520

 

 

$

144,357

 

Year-over-Year Increase

36

%

 

 

 

 

 

 

Subscription revenue - constant currency (*)

$

188,262

 

 

$

144,357

 

Year-over-Year Increase

30

%

 

 

 

 

 

 

Non-GAAP Financial Measures:

 

 

 

Non-GAAP operating income (*)

$

53,540

 

 

$

51,113

 

Non-GAAP operating margin (*)

26

%

 

33

%

 

 

 

 

Non-GAAP net income (*)

$

45,030

 

 

$

43,772

 

 

 

 

 

Non-GAAP net income per share - diluted

$

0.16

 

 

$

0.15

 

 

 

 

 

Non-GAAP shares outstanding - diluted

288,988

 

 

284,309

 

 

 

 

 

Unlevered Free Cash Flow (*)

$

81,091

 

 

$

44,460

 

* Use of Non-GAAP Financial Measures

In our earnings press releases, conference calls, slide presentations, and webcasts, we may use or discuss non-GAAP financial measures, as defined by Regulation G. The GAAP financial measure most directly comparable to each non-GAAP financial measure used or discussed, and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are included in this press release after the consolidated financial statements. Our earnings press releases containing such non-GAAP reconciliations can be found in the Investors section of our website at https://ir.dynatrace.com.

Financial Outlook

Based on information available, as of July 28, 2021, Dynatrace is issuing guidance for the second quarter and raising guidance for full year fiscal 2022 as follows:

Second Quarter of Fiscal Year 2022:

  • Total revenue is expected to be in the range of $219 to $221 million, 30% to 31% growth as reported, or 28% to 29% on a constant currency basis
  • Subscription revenue is expected to be in the range of $206.5 to $208 million, 31% to 32% growth as reported, or 29% to 30% on a constant currency basis
  • Non-GAAP operating income is expected to be in the range of $53 to $55 million
  • Non-GAAP net income is expected to be in the range of $44.5 to $46.5 million
  • Non-GAAP net income per diluted share is expected to be in the range of $0.15 to $0.16, based on a range of 290 to 291 million diluted weighted-average shares outstanding

Full Year Fiscal 2022:

  • Total ARR is expected to be in the range of $984 to $996 million, 27% to 29% growth as reported, or 26% to 28% on a constant currency basis
  • Total revenue is expected to be in the range of $902 to $914 million, 28% to 30% growth as reported, or 26% to 28% growth on a constant currency basis
  • Subscription revenue is expected to be in the range of $848 to $856 million, 29% to 31% growth as reported, or 27% to 29% growth on a constant currency basis
  • Non-GAAP operating income is expected to be in the range of $208 to $218 million
  • Non-GAAP net income is expected to be in the range of $175 to $184 million
  • Non-GAAP net income per diluted share is expected to be in the range of $0.60 to $0.63, based on a range of 291 to 292 million diluted weighted-average shares outstanding
  • Total unlevered free cash flow is expected to be in the range of $262 to $274 million, or 29% to 30% of revenue

Our guidance is based on foreign exchange rates as of June 30, 2021.

Reconciliation of non-GAAP operating income, non-GAAP net income, non-GAAP net income per share and unlevered free cash flow guidance to the most directly comparable GAAP measures is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of share-based compensation expense, employer taxes and tax deductions specific to equity compensation awards that are directly impacted by future hiring, turnover and retention needs, as well as unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.

Conference Call and Webcast Information

Dynatrace will host a conference call and live webcast to discuss its results and business outlook for investors and analysts at 8:00 a.m. Eastern Time today, July 28, 2021. To access the conference call from the U.S. and Canada, dial (866) 405-1247, or internationally, dial (201) 689-8045 with conference ID # 13720878. The call will also be available live via webcast on the company’s website, ir.dynatrace.com.

An audio replay of the call will also be available until 11:59 p.m. Eastern Time on August 11, 2021, by dialing (877) 660-6853 from the U.S. or Canada, or for international callers by dialing (201) 612-7415 and entering conference ID # 13720878. In addition, an archived webcast will be available at https://ir.dynatrace.com.

The company has used, and intends to continue to use, the investor relations portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD.

Non-GAAP Financial Measures & Key Metrics

In addition to disclosing financial measures prepared in accordance with GAAP, this press release and the accompanying tables contain certain non-GAAP financial measures. As of the second quarter of Fiscal Year 2021, we adjusted certain of our non-GAAP metrics for employer payroll tax expense related to equity incentive plans, as the amount of employer payroll tax expense is dependent on our stock price and other factors that are beyond our control and does not correlate to the operation of our business. Our historical presentation of these metrics has been updated in the tables below to reflect these adjustments for consistency.

Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies. Dynatrace considers these non-GAAP financial measures to be important because they provide useful indicators of its performance and liquidity measures. These are key measures used by our management and board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short and long-term operational plans. In addition, investors often use similar measures to evaluate the performance of a company. Non-GAAP financial measures are presented for supplemental informational purposes only for understanding the company’s operating performance. The non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from non-GAAP financial measures presented by other companies. The GAAP financial measure most directly comparable to each non-GAAP financial measure used or discussed, and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are included in this press release after the consolidated financial statements.

Dynatrace presents constant currency amounts for Revenue and Annual Recurring Revenue to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods. All growth comparisons relate to the corresponding period in the last fiscal year. Dynatrace provides this non-GAAP financial information to aid investors in better understanding our performance.

Annual Recurring Revenue “ARR” is defined as the daily revenue of all subscription agreements that are actively generating revenue as of the last day of the reporting period multiplied by 365. We exclude from our calculation of Total ARR any revenues derived from month-to-month agreements and/or product usage overage billings.

Dynatrace Net Expansion Rate is defined as the Dynatrace® ARR at the end of a reporting period for the cohort of Dynatrace® accounts as of one year prior to the date of calculation, divided by the Dynatrace® ARR one year prior to the date of calculation for that same cohort. This calculation excludes the benefit of Dynatrace® ARR resulting from the conversion of Classic products to the Dynatrace® platform.

Dynatrace customers are defined as accounts, as identified by a unique account identifier, that generate at least $10,000 of Dynatrace® ARR as of the reporting date. In infrequent cases, a single large organization may comprise multiple customer accounts when there are distinct divisions, departments or subsidiaries that operate and make purchasing decisions independently from the parent organization. In cases where multiple customer accounts exist under a single organization, each customer account is counted separately based on a mutually exclusive accounting of ARR.

Unlevered Free Cash Flow is defined as net cash provided by (used in) operating activities and adjusted to exclude cash paid for interest (net of tax), non-recurring restructuring and acquisition related costs, along with costs associated with one-time offerings and filings, less cash used in investing activities for acquisition of property and equipment. However, given our debt obligations, unlevered free cash flow does not represent residual cash flow available for discretionary expenses.

About Dynatrace

Dynatrace provides software intelligence to simplify cloud complexity and accelerate digital transformation. With automatic and intelligent observability at scale, our all-in-one platform delivers precise answers about the performance and security of applications, the underlying infrastructure, and the experience of all users to enable organizations to innovate faster, collaborate more efficiently, and deliver more value with dramatically less effort. That’s why many of the world’s largest enterprises trust Dynatrace® to modernize and automate cloud operations, release better software faster, and deliver unrivalled digital experiences.

Cautionary Language Concerning Forward-Looking Statements

This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding management’s expectations of future financial and operational performance and operational expenditures, expected growth, and business outlook, including our financial guidance for the second fiscal quarter and full year 2022, and statements regarding the size of our market and our positioning for capturing a larger share of our market. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, the effect of the COVID-19 pandemic on our business operations and demand for our products as well as its impact on general economic and financial market conditions, our ability to maintain our subscription revenue growth rates in future periods, our ability to service our substantial level of indebtedness, market adoption of software intelligence solutions for application performance monitoring, digital experience monitoring, infrastructure monitoring, AIOps, business intelligence and analytics and application security, continued spending on and demand for software intelligence solutions, our ability to maintain and acquire new customers, our ability to differentiate our platform from competing products and technologies; our ability to successfully recruit and retain highly-qualified personnel; the price volatility of our common stock, and other risks set forth under the caption “Risk Factors” in our Form 10-K filed on May 28, 2021 and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

DYNATRACE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited – In thousands, except per share data)

 

 

Three Months Ended

June 30,

 

2021

 

2020

Revenue:

 

 

 

Subscription

$

196,520

 

 

 

$

144,357

 

 

License

50

 

 

 

638

 

 

Service

13,170

 

 

 

10,513

 

 

Total revenue

209,740

 

 

 

155,508

 

 

Cost of revenue:

 

 

 

Cost of subscription

24,982

 

 

 

16,706

 

 

Cost of service

10,021

 

 

 

8,010

 

 

Amortization of acquired technology

3,830

 

 

 

3,826

 

 

Total cost of revenue

38,833

 

 

 

28,542

 

 

Gross profit

170,907

 

 

 

126,966

 

 

 

 

 

 

Operating expenses:

 

 

 

Research and development

34,725

 

 

 

23,505

 

 

Sales and marketing

80,482

 

 

 

49,163

 

 

General and administrative

26,922

 

 

 

21,527

 

 

Amortization of other intangibles

7,540

 

 

 

8,686

 

 

Restructuring and other

26

 

 

 

(21

)

 

Total operating expenses

149,695

 

 

 

102,860

 

 

Income from operations

21,212

 

 

 

24,106

 

 

Interest expense, net

(2,857

)

 

 

(4,113

)

 

Other income, net

1,311

 

 

 

19

 

 

Income before income taxes

19,666

 

 

 

20,012

 

 

Income tax expense

(6,372

)

 

 

(7,147

)

 

Net income

$

13,294

 

 

 

$

12,865

 

 

Net income per share:

 

 

 

Basic

$

0.05

 

 

 

$

0.05

 

 

Diluted

$

0.05

 

 

 

$

0.05

 

 

Weighted average shares outstanding:

 

 

 

Basic

282,661

 

 

 

279,069

 

 

Diluted

288,988

 

 

 

284,309

 

 

UNAUDITED SHARE-BASED COMPENSATION

 

 

Three Months Ended

June 30,

 

2021

 

2020

Cost of revenue

$

2,652

 

 

$

1,498

 

Research and development

3,967

 

 

2,418

 

Sales and marketing

7,608

 

 

5,405

 

General and administrative

5,025

 

 

3,351

 

Total share-based compensation expense

$

19,252

 

 

$

12,672

 

DYNATRACE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

 

 

June 30, 2021

 

March 31, 2021

 

(unaudited)

 

 

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

387,218

 

 

 

$

324,962

 

 

Accounts receivable, net

134,003

 

 

 

242,079

 

 

Deferred commissions, current

50,987

 

 

 

48,986

 

 

Prepaid expenses and other current assets

65,838

 

 

 

64,255

 

 

Total current assets

638,046

 

 

 

680,282

 

 

Property and equipment, net

37,841

 

 

 

36,916

 

 

Operating lease right-of-use asset, net

48,338

 

 

 

42,959

 

 

Goodwill

1,275,133

 

 

 

1,271,195

 

 

Other intangible assets, net

137,993

 

 

 

149,484

 

 

Deferred tax assets, net

17,012

 

 

 

16,811

 

 

Deferred commissions, non-current

50,001

 

 

 

48,638

 

 

Other assets

9,735

 

 

 

9,933

 

 

Total assets

$

2,214,099

 

 

 

$

2,256,218

 

 

 

 

 

 

Liabilities and shareholders' equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

3,431

 

 

 

$

9,621

 

 

Accrued expenses, current

98,955

 

 

 

119,527

 

 

Deferred revenue, current

486,066

 

 

 

509,272

 

 

Operating lease liabilities, current

10,420

 

 

 

9,491

 

 

Total current liabilities

598,872

 

 

 

647,911

 

 

Deferred revenue, non-current

33,683

 

 

 

47,504

 

 

Accrued expenses, non-current

16,349

 

 

 

16,072

 

 

Operating lease liabilities, non-current

42,823

 

 

 

38,203

 

 

Deferred tax liabilities

1,014

 

 

 

1,014

 

 

Long-term debt

362,404

 

 

 

391,913

 

 

Total liabilities

1,055,145

 

 

 

1,142,617

 

 

Commitments and contingencies

 

 

 

Shareholders' equity:

 

 

 

Common shares, $0.001 par value, 600,000,000 shares authorized, 284,217,750 and 283,130,238 shares issued and outstanding at June 30, 2021 and March 31, 2021, respectively

284

 

 

 

283

 

 

Additional paid-in capital

1,687,044

 

 

 

1,653,328

 

 

Accumulated deficit

(500,505

)

 

 

(513,799

)

 

Accumulated other comprehensive loss

(27,869

)

 

 

(26,211

)

 

Total shareholders' equity

1,158,954

 

 

 

1,113,601

 

 

Total liabilities and shareholders' equity

$

2,214,099

 

 

 

$

2,256,218

 

 

DYNATRACE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited – In thousands)

 

 

Three Months Ended

June 30,

 

2021

 

 

2020

 

Cash flows from operating activities:

 

 

 

Net income

$

13,294

 

 

 

$

12,865

 

 

Adjustments to reconcile net income to cash provided by operations:

 

 

 

Depreciation

2,475

 

 

 

1,590

 

 

Amortization

11,512

 

 

 

13,019

 

 

Share-based compensation

19,252

 

 

 

12,672

 

 

Deferred income taxes

(2

)

 

 

(175

)

 

Other

(794

)

 

 

466

 

 

Net change in operating assets and liabilities:

 

 

 

Accounts receivable

110,079

 

 

 

64,265

 

 

Deferred commissions

(2,631

)

 

 

2,229

 

 

Prepaid expenses and other assets

(1,453

)

 

 

275

 

 

Accounts payable and accrued expenses

(27,376

)

 

 

(23,212

)

 

Operating leases, net

131

 

 

 

311

 

 

Deferred revenue

(41,015

)

 

 

(47,297

)

 

Net cash provided by operating activities

83,472

 

 

 

37,008

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

Purchase of property and equipment

(2,954

)

 

 

(4,418

)

 

Capitalized software additions

 

 

 

(131

)

 

Acquisition of business, net of cash acquired

(3,543

)

 

 

 

 

Net cash used in investing activities

(6,497

)

 

 

(4,549

)

 

 

 

 

 

Cash flows from financing activities:

 

 

 

Repayment of term loans

(30,000

)

 

 

 

 

Proceeds from employee stock purchase plan

6,593

 

 

 

3,592

 

 

Proceeds from exercise of stock options

7,886

 

 

 

 

 

Equity repurchases

(14

)

 

 

(13

)

 

Net cash (used in) provided by financing activities

(15,535

)

 

 

3,579

 

 

 

 

 

 

Effect of exchange rates on cash and cash equivalents

816

 

 

 

1,169

 

 

 

 

 

 

Net increase in cash and cash equivalents

62,256

 

 

 

37,207

 

 

 

 

 

 

Cash and cash equivalents, beginning of period

324,962

 

 

 

213,170

 

 

Cash and cash equivalents, end of period

$

387,218

 

 

 

$

250,377

 

 

 

 

 

 

Supplemental cash flow data:

 

 

 

Cash paid for interest

$

2,370

 

 

 

$

3,763

 

 

Cash paid for tax, net

$

5,403

 

 

 

$

10,127

 

 

DYNATRACE, INC.

GAAP to Non-GAAP Reconciliations

(Unaudited - In thousands, except percentages)

 

 

Three Months Ended June 30, 2021

 

GAAP

 

Share-based

compensation

 

Employer

payroll taxes

on employee

stock

transactions

 

Amortization

of other

intangibles

 

Restructuring

& other

 

Non-GAAP

Non-GAAP operating income:

Cost of revenue

$

38,833

 

 

$

(2,652

)

 

 

$

(315

)

 

 

$

(3,830

)

 

 

$

 

 

 

$

32,036

 

Gross profit

170,907

 

 

2,652

 

 

 

315

 

 

 

3,830

 

 

 

 

 

 

177,704

 

Gross margin

81

%

 

 

 

 

 

 

 

 

 

85

%

Research and development

34,725

 

 

(3,967

)

 

 

(627

)

 

 

 

 

 

 

 

 

30,131

 

Sales and marketing

80,482

 

 

(7,608

)

 

 

(585

)

 

 

 

 

 

 

 

 

72,289

 

General and administrative

26,922

 

 

(5,025

)

 

 

(200

)

 

 

 

 

 

47

 

 

 

21,744

 

Amortization of other intangibles

7,540

 

 

 

 

 

 

 

 

(7,540

)

 

 

 

 

 

 

Restructuring and other

26

 

 

 

 

 

 

 

 

 

 

 

(26

)

 

 

 

Operating income

$

21,212

 

 

$

19,252

 

 

 

$

1,727

 

 

 

$

11,370

 

 

 

$

(21

)

 

 

$

53,540

 

Operating margin

10

%

 

 

 

 

 

 

 

 

 

26

%

 

Three Months Ended June 30, 2020(1)

 

GAAP

 

Share-based

compensation

 

Employer

payroll taxes

on employee

stock

transactions

 

Amortization

of other

intangibles

 

Restructuring

& other

 

Non-GAAP

Non-GAAP operating income:

Cost of revenue

$

28,542

 

 

 

$

(1,498

)

 

 

$

(53

)

 

 

$

(3,826

)

 

 

$

 

 

 

$

23,165

 

Gross profit

126,966

 

 

 

1,498

 

 

 

53

 

 

 

3,826

 

 

 

 

 

 

132,343

 

Gross margin

82

 

%

 

 

 

 

 

 

 

 

 

85

%

Research and development

23,505

 

 

 

(2,418

)

 

 

(98

)

 

 

 

 

 

 

 

 

20,989

 

Sales and marketing

49,163

 

 

 

(5,405

)

 

 

(127

)

 

 

 

 

 

 

 

 

43,631

 

General and administrative

21,527

 

 

 

(3,351

)

 

 

(7

)

 

 

 

 

 

(1,559

)

 

 

16,610

 

Amortization of other intangibles

8,686

 

 

 

 

 

 

 

 

 

(8,686

)

 

 

 

 

 

 

Restructuring and other

(21

)

 

 

 

 

 

 

 

 

 

 

 

21

 

 

 

 

Operating income

$

24,106

 

 

 

$

12,672

 

 

 

$

285

 

 

 

$

12,512

 

 

 

$

1,538

 

 

 

$

51,113

 

Operating margin

16

 

%

 

 

 

 

 

 

 

 

 

33

%

(1)

Prior period results have been updated to include the employer payroll taxes on employee stock transactions.

DYNATRACE, INC.

GAAP to Non-GAAP Reconciliations

(Unaudited - In thousands, except per share data)

 

 

Three Months Ended June 30,

 

2021

 

2020

Non-GAAP net income:

 

 

 

Net income

$

13,294

 

 

 

$

12,865

 

 

Income tax expense

6,372

 

 

 

7,147

 

 

Non-GAAP effective cash tax

(6,140

)

 

 

(3,578

)

 

Interest expense, net

2,857

 

 

 

4,113

 

 

Cash paid for interest

(2,370

)

 

 

(3,763

)

 

Share-based compensation

19,252

 

 

 

12,672

 

 

Employer payroll taxes on employee stock transactions

1,727

 

 

 

285

 

 

Amortization of other intangibles

7,540

 

 

 

8,686

 

 

Amortization of acquired technology

3,830

 

 

 

3,826

 

 

Transaction and sponsor related costs

(47

)

 

 

1,559

 

 

Restructuring and other

26

 

 

 

(21

)

 

Gain on currency translation

(1,311

)

 

 

(19

)

 

Non-GAAP net income

$

45,030

 

 

 

$

43,772

 

 

 

 

 

 

Share count:

 

 

 

Weighted-average shares outstanding - basic

282,661

 

 

 

279,069

 

 

Weighted-average shares outstanding - diluted

288,988

 

 

 

284,309

 

 

 

 

 

 

Shares used in non-GAAP per share calculations:

 

 

 

Weighted-average shares outstanding - basic

282,661

 

 

 

279,069

 

 

Weighted-average shares outstanding - diluted

288,988

 

 

 

284,309

 

 

 

 

 

 

Net income per share:

 

 

 

Net income per share - basic

$

0.05

 

 

 

$

0.05

 

 

Net income per share - diluted

$

0.05

 

 

 

$

0.05

 

 

Non-GAAP net income per share - basic

$

0.16

 

 

 

$

0.16

 

 

Non-GAAP net income per share - diluted

$

0.16

 

 

 

$

0.15

 

 

DYNATRACE, INC.

GAAP to Non-GAAP Reconciliations

(Unaudited - In thousands)

 

 

Three Months Ended June 30,

 

2021

 

2020 (1)

Unlevered Free Cash Flow ("uFCF"):

 

 

 

 

 

 

Net cash provided by operating activities

$

83,472

 

 

 

$

37,008

 

 

Cash paid for interest expense

2,370

 

 

 

3,763

 

 

Restructuring and other

26

 

 

 

(21

)

 

Purchase of property, plant, and equipment

(2,954

)

 

 

(4,418

)

 

Transaction and sponsor related costs

(47

)

 

 

1,559

 

 

Discrete tax items

(1,183

)

 

 

7,510

 

 

Total uFCF

81,684

 

 

 

45,401

 

 

Interest tax adjustment

(593

)

 

 

(941

)

 

uFCF

$

81,091

 

 

 

$

44,460

 

 

(1)

Prior period results have been updated to include the discrete tax payments related to the reorganization.

 

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.