SaaS ARR, excludi g co ve sio s i c eased 25% yea -ove -yea Total SaaS ARR was $726.0 millio , up 52% yea -ove -yea
MIAMI, July 28, 2026 (GLOBE NEWSWIRE) — Va o is Systems, I c. (Nasdaq: VRNS), the data a d AI secu ity leade , today a ou ced fi a cial esults fo the seco d qua te e ded Ju e 30, 2026.
Yaki Faitelso , Va o is CEO, said, “Ou Q2 esults we e highlighted by SaaS ARR excludi g co ve sio s g owth of 25%, SaaS ARR f om ew logos g owi g mo e tha 20% a d i c easi g mome tum f om ou ewe p oducts, i cludi g Atlas, I te cepto , a d Database Activity Mo ito i g. O ga izatio s a e p io itizi g data a d AI secu ity, a d we a e u iquely positio ed to help custome s secu e se sitive data, gove AI a d automate isk eductio .”
Guy Melamed, Va o is CFO & COO, added, “Ou pe fo ma ce this qua te was cha acte ized by healthy ew logo mome tum d ive by the eed to secu e AI a d the data powe i g it. Give the st e gth we a e seei g i the busi ess, the u de lyi g dema d d ive s a d ou st o g sta t to July, we a e aisi g ou full-yea outlook fo SaaS ARR excludi g co ve sio s g owth above the seco d qua te beat to 21% at the midpoi t to $769 millio to $775 millio which is a $5 millio aise ove last qua te .”
- Total eve ues we e $180.0 millio , compa ed with $152.2 millio i the seco d qua te of 2025.
- SaaS eve ues we e $171.7 millio , compa ed with $105.9 millio i the seco d qua te of 2025.
- Te m lice se subsc iptio eve ues we e $4.2 millio , compa ed with $32.4 millio i the seco d qua te of 2025, with the vast majo ity of the decli e d ive by custome s co ve ti g to ou SaaS platfo m.
- Mai te a ce a d se vices eve ues we e $4.1 millio , compa ed with $13.9 millio i the seco d qua te of 2025, with the vast majo ity of the decli e d ive by custome s co ve ti g to ou SaaS platfo m.
- GAAP ope ati g loss was ($40.6) millio , compa ed to GAAP ope ati g loss of ($36.6) millio i the seco d qua te of 2025.
- No -GAAP ope ati g i come was $3.7 millio , compa ed to o -GAAP ope ati g loss of ($1.9) millio i the seco d qua te of 2025.
The tables at the e d of this p ess elease i clude a eco ciliatio of GAAP ope ati g i come (loss) to o -GAAP ope ati g i come (loss) a d GAAP et i come (loss) to o -GAAP et i come (loss) fo the th ee a d six mo ths e ded Ju e 30, 2026 a d 2025. A expla atio of these measu es is i cluded below u de the headi g “No -GAAP Fi a cial Measu es a d Key Pe fo ma ce I dicato s.”
- SaaS ARR, was $726.0 millio as of the e d of the seco d qua te , up 52% yea -ove -yea a d up 25% yea -ove -yea , excludi g co ve sio s.
- As of Ju e 30, 2026, the Compa y had $911.5 millio i cash a d cash equivale ts, sho t-te m deposits a d sho t-te m a d lo g-te m ma ketable secu ities.
- Du i g the six mo ths e ded Ju e 30, 2026, the Compa y ge e ated $80.1 millio of cash f om ope atio s, compa ed to $89.3 millio ge e ated i the p io yea pe iod.
- Du i g the six mo ths e ded Ju e 30, 2026, the Compa y ge e ated $69.1 millio of f ee cash flow, compa ed to $82.7 millio ge e ated i the p io yea pe iod.
- Du i g the six mo ths e ded Ju e 30, 2026, the Compa y ge e ated $81.0 millio of adjusted f ee cash flow, compa ed to $84.3 millio ge e ated i the p io yea pe iod.
- A ou ced suppo t fo Cu so , the AI- ative codi g tool, delive i g visibility a d co t ol ac oss the age tic developme t lifecycle.
- Named a Ga t e Pee I sights Custome s’ Choice fo Data Secu ity Postu e Ma ageme t (DSPM).
- Achieved GovRAMP Autho izatio to help public secto o ga izatio s secu e c itical data a d AI.
- Deepe ed i teg atio with A th opic’s Claude E te p ise a d Claude Platfo m as well as Claude Code a d Claude Cowo k, e abli g secu ity teams to secu e a d gove the e ti e Claude e te p ise suite with the Va o is Atlas AI Secu ity Platfo m.
A expla atio of SaaS ARR is i cluded below u de the headi g “No -GAAP Fi a cial Measu es a d Key Pe fo ma ce I dicato s.” I additio , the tables at the e d of this p ess elease i clude a eco ciliatio of et cash p ovided by ope ati g activities to o -GAAP f ee cash flow a d o -GAAP adjusted f ee cash flow. A expla atio of these measu es is also i cluded below u de the headi g “No -GAAP Fi a cial Measu es a d Key Pe fo ma ce I dicato s.”
Fo the thi d qua te of 2026, the Compa y expects:
- SaaS ARR yea -ove -yea g owth of 22% to 23%, excludi g co ve sio s.
- Reve ues of $185.0 millio to $188.0 millio , o yea -ove -yea g owth of 14% to 16%.
- No -GAAP ope ati g i come of $2.5 millio to $3.5 millio .
- No -GAAP et i come pe diluted sha e i the a ge of $0.02 to $0.03, based o 131.1 millio diluted sha es outsta di g.
Fo full yea 2026, the Compa y ow expects:
- SaaS ARR of $819.0 millio to $850.0 millio , o yea -ove -yea g owth of 28% to 33%.
- SaaS ARR yea -ove -yea g owth of 20% to 21%, excludi g co ve sio s.
- F ee cash flow of $105.0 millio to $110.0 millio .
- Reve ues of $735.0 millio to $739.0 millio , o yea -ove -yea g owth of 18% to 19%.
- No -GAAP ope ati g i come of $11.0 millio to $13.0 millio .
- No -GAAP et i come pe diluted sha e i the a ge of $0.14 to $0.15, based o 131.5 millio diluted sha es outsta di g.
Actual esults may diffe mate ially f om the Compa y’s Fi a cial Outlook as a esult of, amo g othe thi gs, the facto s desc ibed below u de “Fo wa d-Looki g Stateme ts”.
No -GAAP ope ati g i come (loss) is calculated as ope ati g i come (loss) excludi g (i) stock-based compe satio expe se, (ii) pay oll tax expe se elated to stock-based compe satio , a d (iii) amo tizatio of acqui ed i ta gible assets a d acquisitio – elated expe ses.
No -GAAP et i come (loss) is calculated as et i come (loss) excludi g (i) stock-based compe satio expe se, (ii) pay oll tax expe se elated to stock-based compe satio , (iii) amo tizatio of acqui ed i ta gible assets a d acquisitio – elated expe ses, (iv) fo eig excha ge gai s (losses) which i clude excha ge ate diffe e ces o lease co t acts as a esult of the impleme tatio of ASC 842, (v) amo tizatio of debt issua ce costs a d (vi) acquisitio – elated taxes.
The Compa y believes that the exclusio of these expe ses p ovides a mo e mea i gful compa iso of ou ope atio al pe fo ma ce f om pe iod to pe iod a d offe s i vesto s a d ma ageme t g eate visibility to the u de lyi g pe fo ma ce of ou busi ess. Specifically:
- Stock-based compe satio expe ses utilize va yi g available valuatio methodologies, subjective assumptio s a d a va iety of equity i st ume ts that ca impact a compa y’s o -cash expe ses;
- Pay oll taxes a e tied to the exe cise o vesti g of u de lyi g equity awa ds a d the p ice of ou commo stock at the time of vesti g o exe cise, facto s which may va y f om pe iod to pe iod;
- Acqui ed i ta gible assets a e valued at the time of acquisitio a d a e amo tized ove a estimated useful life afte the acquisitio , a d acquisitio – elated expe ses a e u elated to cu e t ope atio s a d eithe a e compa able to the p io pe iod o p edictive of futu e esults;
- The Compa y i cu s fo eig excha ge gai s o losses f om the evaluatio of its sig ifica t ope ati g lease liabilities i fo eig cu e cies as well as othe assets a d liabilities de omi ated i o -U.S. dolla s, which may va y f om pe iod to pe iod;
- Amo tizatio of debt issua ce costs, which elate to the Compa y’s co ve tible se io otes issued i 2020 a d 2024, a e a o -cash item; a d
- Acquisitio – elated taxes a e u elated to cu e t ope atio s a d eithe a e compa able to the p io pe iod o p edictive of futu e esults.
F ee cash flow is calculated as et cash p ovided by o used i ope ati g activities less pu chases of p ope ty a d equipme t a d capitalized i te al-use softwa e. Adjusted f ee cash flow is calculated as f ee cash flow excludi g et cash paid fo acquisitio – elated costs. We believe that f ee cash flow a d adjusted f ee cash flow a e useful i dicato s of liquidity that p ovide i fo matio to ma ageme t a d i vesto s about the amou t of cash p ovided by o used i ou ope atio s that, afte adjusti g fo the i vestme ts i p ope ty a d equipme t, capitalized i te al-use softwa e a d acquisitio – elated costs, ca be used fo st ategic i itiatives.
Each of ou o -GAAP fi a cial measu es is a impo ta t tool fo fi a cial a d ope atio al decisio maki g a d fo evaluati g ou ow ope ati g esults ove diffe e t pe iods of time. The o -GAAP fi a cial measu es do ot ep ese t ou fi a cial pe fo ma ce u de U.S. GAAP a d should ot be co side ed as alte atives to ope ati g i come (loss) o et i come (loss) o a y othe pe fo ma ce measu es de ived i acco da ce with GAAP. No -GAAP fi a cial measu es may ot p ovide i fo matio that is di ectly compa able to that p ovided by othe compa ies i ou i dust y, as othe compa ies i ou i dust y may calculate o -GAAP fi a cial esults diffe e tly, pa ticula ly elated to o – ecu i g, u usual items. I additio , the e a e limitatio s i usi g o -GAAP fi a cial measu es because the o -GAAP fi a cial measu es a e ot p epa ed i acco da ce with GAAP, a d exclude expe ses that may have a mate ial impact o ou epo ted fi a cial esults. Fu the , stock-based compe satio expe se a d pay oll tax expe se elated to stock-based compe satio have bee , a d will co ti ue to be fo the fo eseeable futu e, sig ifica t ecu i g expe ses i ou busi ess a d a impo ta t pa t of the compe satio p ovided to ou employees. Also, the amo tizatio of i ta gible assets a e expected ecu i g expe ses ove the estimated useful life of the u de lyi g i ta gible asset a d acquisitio – elated expe ses will be i cu ed to the exte t acquisitio s a e made i the futu e a d acquisitio – elated taxes may be i cu ed to the exte t acquisitio s a e made i the futu e. Additio ally, fo eig excha ge ates may fluctuate f om o e pe iod to a othe , a d the Compa y does ot estimate moveme ts i fo eig cu e cies. Fi ally, the amo tizatio of debt issua ce costs a e expected ecu i g expe ses u til the matu ity of the co ve tible se io otes i 2029.
The p ese tatio of o -GAAP fi a cial i fo matio is ot mea t to be co side ed i isolatio o as a substitute fo the di ectly compa able fi a cial measu es p epa ed i acco da ce with GAAP. Va o is u ges i vesto s to eview the eco ciliatio of ou histo ical o -GAAP fi a cial measu es to the compa able GAAP fi a cial measu es i cluded below, a d ot to ely o a y si gle fi a cial measu es to evaluate ou busi ess.
A eco ciliatio fo o -GAAP ope ati g i come (loss), o -GAAP et i come (loss), a d f ee cash flow efe ed to i ou “Fi a cial Outlook” is ot p ovided because we do ot guide o thei most di ectly compa able GAAP fi a cial measu es. As these a e fo wa d-looki g stateme ts, such eco ciliatio is ot available without u easo able effo t due to the high va iability, complexity, u ce tai ty a d difficulty of estimati g ce tai items such as stock-based compe satio a d cu e cy fluctuatio s, which have a impact o ou co solidated esults. The actual amou ts of such eco cili g items will have a sig ifica t impact o the Compa y’s most di ectly compa able GAAP fi a cial measu es. The Compa y believes the i fo matio p ovided is useful to i vesto s because it ca be co side ed i the co text of the Compa y’s histo ical disclosu es of this measu e.
SaaS ARR is a key pe fo ma ce i dicato defi ed as the a ualized value of active SaaS co t acts i effect at the e d of that pe iod. Simila ly, SaaS ARR excludi g co ve sio s is the a ualized value of active SaaS co t acts excludi g the impact of co ve sio s. The co t acts a e a ualized by dividi g the total co t act value by the umbe of days i the te m a d multiplyi g the esult by 365. The a ualized value of co t acts is a legal a d co t actual dete mi atio made by assessi g the co t actual te ms with ou custome s. The a ualized value of such co t acts is ot dete mi ed by efe e ce to histo ical eve ues, defe ed eve ues o a y othe GAAP fi a cial measu e ove a y pe iod. SaaS ARR is ot a fo ecast of futu e eve ues, which ca be impacted by co t act sta t a d e d dates a d e ewal ates.
This p ess elease co tai s, a d stateme ts made du i g the above efe e ced co fe e ce call will co tai , “fo wa d-looki g” stateme ts, which a e subject to the safe ha bo p ovisio s of the P ivate Secu ities Litigatio Refo m Act of 1995, i cludi g ega di g the Compa y’s g owth ate a d its expectatio s ega di g futu e eve ues, ope ati g i come o loss o ea i gs o loss pe sha e. These stateme ts a e ot gua a tees of futu e pe fo ma ce but a e based o ma ageme t’s expectatio s as of the date of this p ess elease a d assumptio s that a e i he e tly subject to u ce tai ties, isks a d cha ges i ci cumsta ces that a e difficult to p edict. Fo wa d-looki g stateme ts i volve k ow a d u k ow isks, u ce tai ties a d othe facto s that may cause actual esults, pe fo ma ce o achieveme ts to be mate ially diffe e t f om a y futu e esults, pe fo ma ce o achieveme ts. Impo ta t facto s that could cause actual esults to diffe mate ially f om those exp essed o implied by these fo wa d-looki g stateme ts i clude the followi g: the impact of pote tial i fo matio tech ology, cybe secu ity o data secu ity b eaches; isks associated with a ticipated g owth i Va o is’ add essable ma ket; ge e al eco omic a d i dust y co ditio s, such as fo eig cu e cy excha ge ate fluctuatio s a d expe ditu e t e ds fo data a d cybe secu ity solutio s; Va o is’ ability to p edict the timi g a d ate of subsc iptio e ewals a d thei impact o the Compa y’s futu e eve ues a d ope ati g esults; isks associated with i te atio al ope atio s; the impact of global co flicts o the budgets of ou clie ts a d o eco omic co ditio s ge e ally; competitive facto s, i cludi g i c eased sales cycle time, cha ges i the competitive e vi o me t, p ici g cha ges a d i c eased competitio ; the isk that Va o is may ot be able to att act o etai employees, i cludi g sales pe so el a d e gi ee s; Va o is’ ability to build a d expa d its di ect sales effo ts a d eselle dist ibutio cha els; isks associated with the closi g of la ge t a sactio s, i cludi g Va o is’ ability to close la ge t a sactio s co siste tly o a qua te ly basis; ew p oduct i t oductio s a d Va o is’ ability to develop a d delive i ovative p oducts; Va o is’ ability to p ovide high-quality se vice a d suppo t offe i gs; the expa sio of cloud-delive ed se vices; a d isks associated with ou co ve tible otes a d capped-call t a sactio s. These a d othe impo ta t isk facto s a e desc ibed mo e fully i Va o is’ epo ts a d othe docume ts filed with the Secu ities a d Excha ge Commissio a d could cause actual esults to va y f om expectatio s. All i fo matio p ovided i this p ess elease a d i the co fe e ce call is as of the date he eof, a d Va o is u de takes o duty to update o evise this i fo matio , whethe as a esult of ew i fo matio , ew developme ts o othe wise, except as equi ed by law.
Va o is (Nasdaq: VRNS) secu es AI a d the data that powe s it. The Va o is platfo m gives o ga izatio s automated visibility a d co t ol ove thei c itical data whe eve it lives a d helps e su e safe a d t ustwo thy AI f om code to u time. Backed by 24x7x365 ma aged detectio a d espo se, Va o is gives thousa ds of o ga izatio s wo ldwide the co fide ce to adopt AI, educe data exposu e, a d stop AI-powe ed th eats.
| Reve ues: | SaaS | $ | 171,727 | $ | 105,895 | $ | 332,792 | $ | 194,455 | Te m lice se subsc iptio s | 4,162 | 32,374 | 11,058 | 63,862 | Mai te a ce a d se vices | 4,134 | 13,894 | 9,299 | 30,269 | Total eve ues | 180,023 | 152,163 | 353,149 | 288,586 | Cost of eve ues | 44,512 | 31,249 | 86,082 | 60,267 | G oss p ofit | 135,511 | 120,914 | 267,067 | 228,319 | Ope ati g expe ses: | Resea ch a d developme t | 73,339 | 56,247 | 143,100 | 110,457 | Sales a d ma keti g | 78,978 | 76,578 | 159,314 | 149,341 | Ge e al a d admi ist ative | 23,825 | 24,641 | 49,765 | 48,839 | Total ope ati g expe ses | 176,142 | 157,466 | 352,179 | 308,637 | Ope ati g loss | (40,631 | ) | (36,552 | ) | (85,112 | ) | (80,318 | ) | Fi a cial i come (expe se), et | (763 | ) | 4,967 | 3,683 | 16,918 | Loss befo e i come taxes | (41,394 | ) | (31,585 | ) | (81,429 | ) | (63,400 | ) | P ovisio fo i come taxes | (5,415 | ) | (4,239 | ) | (2,234 | ) | (8,207 | ) | Net loss | $ | (46,809 | ) | $ | (35,824 | ) | $ | (83,663 | ) | $ | (71,607 | ) | Net loss pe sha e of commo stock, basic a d diluted | $ | (0.41 | ) | $ | (0.32 | ) | $ | (0.73 | ) | $ | (0.64 | ) | Weighted ave age umbe of sha es used i computi g et loss pe sha e of commo stock, basic a d diluted | 114,818,267 | 112,054,715 | 115,300,485 | 112,347,961 |
| Cost of eve ues | $ | 1,645 | $ | 1,475 | $ | 3,084 | $ | 2,979 | Resea ch a d developme t | 13,378 | 10,885 | 26,104 | 21,461 | Sales a d ma keti g | 10,187 | 10,652 | 20,042 | 21,128 | Ge e al a d admi ist ative | 9,409 | 10,847 | 19,128 | 20,546 | $ | 34,619 | $ | 33,859 | $ | 68,358 | $ | 66,114 |
| Cost of eve ues | $ | 6 | $ | 18 | $ | 264 | $ | 508 | Resea ch a d developme t | 74 | 111 | 219 | 348 | Sales a d ma keti g | 55 | 62 | 1,071 | 1,979 | Ge e al a d admi ist ative | 39 | 68 | 523 | 491 | $ | 174 | $ | 259 | $ | 2,077 | $ | 3,326 |
| Cost of eve ues | $ | 2,697 | $ | 170 | $ | 4,372 | $ | 196 | Resea ch a d developme t | 6,662 | 338 | 11,236 | 1,695 | Sales a d ma keti g | 180 | — | 316 | — | Ge e al a d admi ist ative | 10 | 24 | 1,086 | 627 | $ | 9,549 | $ | 532 | $ | 17,010 | $ | 2,518 |
| Cu e t assets: | Cash a d cash equivale ts | $ | 233,643 | $ | 202,482 | Ma ketable secu ities | 426,474 | 681,225 | Sho t-te m deposits | 38,149 | 37,259 | Accou ts eceivable, et | 150,896 | 242,822 | P epaid expe ses a d othe sho t-te m assets | 147,790 | 134,767 | Total cu e t assets | 996,952 | 1,298,555 | Lo g-te m assets: | Lo g-te m ma ketable secu ities | 213,260 | 187,202 | Ope ati g lease ight-of-use assets | 61,826 | 57,677 | P ope ty a d equipme t, et | 40,314 | 36,032 | I ta gible assets, et | 56,006 | 16,687 | Goodwill | 215,082 | 135,276 | Othe assets | 70,955 | 60,183 | Total lo g-te m assets | 657,443 | 493,057 | Total assets | $ | 1,654,395 | $ | 1,791,612 | Cu e t liabilities: | T ade payables | $ | 12,328 | $ | 5,735 | Acc ued expe ses a d othe sho t-te m liabilities | 173,413 | 225,411 | Defe ed eve ues | 420,198 | 427,811 | Total cu e t liabilities | 605,939 | 658,957 | Lo g-te m liabilities: | Co ve tible se io otes, et | 453,278 | 452,259 | Ope ati g lease liabilities | 62,854 | 59,749 | Defe ed eve ues | 15,368 | 14,406 | Othe liabilities | 72,463 | 7,585 | Total lo g-te m liabilities | 603,963 | 533,999 | Stockholde s’ equity: | Sha e capital | Commo stock | 115 | 118 | Accumulated othe comp ehe sive i come | 27,159 | 23,132 | Additio al paid-i capital | 1,370,361 | 1,444,885 | Accumulated deficit | (953,142 | ) | (869,479 | ) | Total stockholde s’ equity | 444,493 | 598,656 | Total liabilities a d stockholde s’ equity | $ | 1,654,395 | $ | 1,791,612 |
| Cash flows f om ope ati g activities: | Net loss | $ | (83,663 | ) | $ | (71,607 | ) | Adjustme ts to eco cile et loss to et cash p ovided by ope ati g activities: | Dep eciatio a d amo tizatio | 11,535 | 4,988 | Stock-based compe satio | 68,358 | 66,114 | Amo tizatio of defe ed commissio s | 30,570 | 25,141 | No -cash ope ati g lease costs | 5,401 | 4,952 | Amo tizatio of debt issua ce costs | 1,019 | 1,774 | Amo tizatio of p emium a d acc etio of discou t o ma ketable secu ities, et | 1,511 | 414 | Defe ed i come taxes, et | (9,652 | ) | — | Remeasu eme t of optio s to epu chase commo stock | 2,091 | — | Cha ges i assets a d liabilities: | Accou ts eceivable | 91,926 | 39,004 | P epaid expe ses a d othe sho t-te m assets | (4,129 | ) | 1,427 | Defe ed commissio s | (41,294 | ) | (35,592 | ) | Othe lo g-te m assets | (8,786 | ) | (1,120 | ) | T ade payables | 6,592 | 2,802 | Acc ued expe ses a d othe sho t-te m liabilities | 13,635 | 15,953 | Defe ed eve ues | (6,669 | ) | 34,070 | Othe lo g-te m liabilities | 1,678 | 1,029 | Net cash p ovided by ope ati g activities | 80,123 | 89,349 | Cash flows f om i vesti g activities: | P oceeds f om matu ities of ma ketable secu ities | 240,895 | 126,000 | P oceeds f om sales of ma ketable secu ities | 141,319 | — | I vestme t i ma ketable secu ities | (157,589 | ) | (57,654 | ) | P oceeds f om sho t-te m a d lo g-te m deposits | 96,517 | 99,750 | I vestme t i sho t-te m a d lo g-te m deposits | (96,932 | ) | (96,388 | ) | Acquisitio s, et of cash acqui ed | (113,622 | ) | (18,584 | ) | Pu chases of p ope ty a d equipme t | (9,352 | ) | (5,716 | ) | Capitalized i te al-use softwa e | (1,720 | ) | (975 | ) | Othe i vesti g activities | — | (1,500 | ) | Net cash p ovided by i vesti g activities | 99,516 | 44,933 | Cash flows f om fi a ci g activities: | Repu chase of commo stock | (135,000 | ) | (100,000 | ) | Payme t of defe ed co side atio fo acquisitio | (3,502 | ) | — | P oceeds f om optio s to epu chase commo stock | 2,900 | — | P oceeds f om employee stock pla s | 7,970 | 7,163 | Taxes paid elated to et sha e settleme t of equity awa ds | (20,846 | ) | (27,799 | ) | Net cash used i fi a ci g activities | (148,478 | ) | (120,636 | ) | I c ease i cash a d cash equivale ts | 31,161 | 13,646 | Cash a d cash equivale ts at begi i g of pe iod | 202,482 | 185,585 | Cash a d cash equivale ts at e d of pe iod | $ | 233,643 | $ | 199,231 |
| GAAP ope ati g loss | $ | (40,631 | ) | $ | (36,552 | ) | $ | (85,112 | ) | $ | (80,318 | ) | Add back: | Stock-based compe satio expe se | 34,619 | 33,859 | 68,358 | 66,114 | Pay oll tax expe ses elated to stock-based compe satio | 174 | 259 | 2,077 | 3,326 | Amo tizatio of acqui ed i ta gible assets a d acquisitio – elated expe ses | 9,549 | 532 | 17,010 | 2,518 | No -GAAP ope ati g i come (loss) | $ | 3,711 | $ | (1,902 | ) | $ | 2,333 | $ | (8,360 | ) | GAAP et loss | $ | (46,809 | ) | $ | (35,824 | ) | $ | (83,663 | ) | $ | (71,607 | ) | Add back: | Stock-based compe satio expe se | 34,619 | 33,859 | 68,358 | 66,114 | Pay oll tax expe ses elated to stock-based compe satio | 174 | 259 | 2,077 | 3,326 | Amo tizatio of acqui ed i ta gible assets a d acquisitio – elated expe ses | 9,549 | 532 | 17,010 | 2,518 | Fo eig excha ge ate diffe e ces, et | 7,235 | 4,116 | 8,015 | 1,981 | Amo tizatio of debt issua ce costs | 509 | 887 | 1,019 | 1,774 | Acquisitio – elated taxes | — | — | — | 391 | No -GAAP et i come | $ | 5,277 | $ | 3,829 | $ | 12,816 | $ | 4,497 | GAAP weighted ave age umbe of sha es used i computi g et loss pe sha e of commo stock – basic a d diluted | 114,818,267 | 112,054,715 | 115,300,485 | 112,347,961 | No -GAAP weighted ave age umbe of sha es used i computi g et i come pe sha e of commo stock – basic | 114,818,267 | 112,054,715 | 115,300,485 | 112,347,961 | No -GAAP weighted ave age umbe of sha es used i computi g et i come pe sha e of commo stock – diluted | 130,766,127 | 135,158,214 | 131,798,764 | 135,929,738 | GAAP et loss pe sha e of commo stock – basic a d diluted | $ | (0.41 | ) | $ | (0.32 | ) | $ | (0.73 | ) | $ | (0.64 | ) | No -GAAP et i come pe sha e of commo stock – basic | $ | 0.05 | $ | 0.03 | $ | 0.11 | $ | 0.04 | No -GAAP et i come pe sha e of commo stock – diluted | $ | 0.04 | $ | 0.03 | $ | 0.10 | $ | 0.03 |
| Net cash p ovided by ope ati g activities | $ | 80,123 | $ | 89,349 | Pu chases of p ope ty a d equipme t | (9,352 | ) | (5,716 | ) | Capitalized i te al-use softwa e | (1,720 | ) | (975 | ) | F ee cash flow | $ | 69,051 | $ | 82,658 | Cash paid fo acquisitio – elated costs | $ | 11,944 | $ | 1,651 | Adjusted f ee cash flow | $ | 80,995 | $ | 84,309 |
