Delivers ARR growth of 25% year-over-year on
a constant currency basis
GAAP Operating Margin of 10% and Non-GAAP
Operating Margin of 28%
Dynatrace (NYSE: DT), the leader in unified observability and
security, today announced financial results for the first quarter
of fiscal 2024 ended June 30, 2023.
“Dynatrace's first quarter results exceeded guidance across all
our key metrics, demonstrating the powerful combination of growth
and profitability,” said Rick McConnell, Chief Executive Officer.
“Observability and application security are becoming critical to
the success of organizations around the world. Our rapid pace of
continuous innovation has made Dynatrace an industry leader for
more than a decade. We believe hypermodal AI and developer
observability will be catalysts for incremental future growth as
they are expected to extend our reach to a wider range of users and
accelerate the creation of even more workloads."
First Quarter Fiscal 2024 and Other Recent Business
Highlights:
All growth rates are compared to the first quarter of fiscal
2023, unless otherwise noted.
Financial Highlights:
- Total ARR of $1,294 million, up 25% on a constant currency
basis
- Total Revenue of $333 million, up 25% on a constant currency
basis
- Subscription Revenue of $316 million, up 27% on a constant
currency basis
- GAAP Operating Income of $34 million and Non-GAAP Operating
Income of $92 million
- GAAP EPS of $0.13 and Non-GAAP EPS of $0.27, both on a dilutive
basis
Business Highlights:
- Analyst recognition: Dynatrace was named a Leader and
positioned highest for Ability to Execute and furthest for
Completeness of Vision in the 2023 Gartner Magic Quadrant for
Application Performance Monitoring and Observability. This is the
13th consecutive time that Gartner has named Dynatrace a Leader in
this report. In addition, Dynatrace was ranked #1 in all six Use
Cases for its platform in the 2023 Gartner Critical Capabilities
for Application Performance Monitoring and Observability
report.
- Platform expansion: We announced an expansion of our
Davis AI engine to deliver the observability and security
industry’s first hypermodal artificial intelligence (AI),
converging fact-based predictive and causal AI insights with new
generative AI capabilities. We also signed a definitive agreement
to acquire Rookout to extend the value the Dynatrace platform
delivers to engineers and developers working in cloud-native
environments with capabilities that enable live and secure
debugging of actively running code. This addition will enable
developers to improve the quality and security of their
releases.
- Extended partnerships: We continue to build momentum
with our strategic global system integrators (GSIs). Sales pipeline
contribution from one of our largest strategic GSI partners more
than doubled when compared to last year. In addition, we announced
a new multi-year consumption commitment and go-to-market
partnership with Microsoft, which includes joint sales enablement
and marketing initiatives to further increase adoption of the
Dynatrace platform on Microsoft Azure. We also expanded our
collaboration with Red Hat with new integration capabilities
between Dynatrace and Red Hat Event-Driven Ansible to automate
DevSecOps use cases, including closed-loop problem and security
remediation, application healing, and incident response.
First Quarter 2024 Financial
Highlights
(Unaudited – In thousands,
except per share data)
Three Months Ended June
30,
2023
2022
Key Operating Metric:
Annualized recurring revenue
$
1,293,895
$
1,031,284
Year-over-Year Increase
25
%
Year-over-Year Increase - constant
currency (*)
25
%
Revenue:
Total revenue
$
332,886
$
267,273
Year-over-Year Increase
25
%
Year-over-Year Increase - constant
currency (*)
25
%
Subscription revenue
$
316,454
$
249,558
Year-over-Year Increase
27
%
Year-over-Year Increase - constant
currency (*)
27
%
GAAP Financial Measures:
GAAP operating income
$
34,288
$
19,094
GAAP operating margin
10
%
7
%
GAAP net income
$
38,188
$
2,114
GAAP net income per share - diluted
$
0.13
$
0.01
GAAP shares outstanding - diluted
296,387
290,024
Net cash provided by operating
activities
$
133,903
$
143,098
Non-GAAP Financial Measures:
Non-GAAP operating income (*)
$
92,075
$
60,315
Non-GAAP operating margin (*)
28
%
23
%
Non-GAAP net income (*)
$
79,045
$
51,842
Non-GAAP net income per share - diluted
(*)
$
0.27
$
0.18
Non-GAAP shares outstanding - diluted
(*)
296,387
290,024
Free Cash Flow (*)
$
123,636
$
136,192
* 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 Investor Relations
section of our website at ir.dynatrace.com.
Financial Outlook
Based on information available as of August 2, 2023, Dynatrace
is issuing guidance for the second quarter and updating guidance
for full year fiscal 2024 in the table below. This guidance
reflects foreign exchange rates as of June 30, 2023. The total
foreign exchange tailwind for fiscal 2024 is now expected to be
approximately $11 million on ARR and $15 million on revenue. Growth
rates for ARR, Total revenue, and Subscription revenue are
presented in constant currency to provide better visibility into
the underlying growth of the business.
All growth rates below are compared to the second quarter and
the full year of fiscal 2023.
(In millions, except per share data)
Q2 Fiscal 2024
Guidance
Total revenue
$343 - $346
As reported
23% - 24%
Constant currency
21% - 22%
Subscription revenue
$325 - $328
As reported
25% - 26%
Constant currency
22% - 23%
Non-GAAP operating income
$90 - $93
Non-GAAP operating margin
26% - 27%
Non-GAAP net income
$77 - $81
Non-GAAP net income per diluted share
$0.26 - $0.27
Diluted weighted average shares
outstanding
298 - 299
(In millions, except per share data)
Current Guidance
Fiscal 2024
Prior Guidance
Fiscal 2024*
Guidance Change
at Midpoint**
Total ARR
$1,475 - $1,490
$1,475 - $1,490
$—
As reported
18% - 20%
18% - 20%
— bps
Constant currency
18% - 19%
18% - 19%
— bps
Total revenue
$1,400 - $1,415
$1,388 - $1,406
$11
As reported
21% - 22%
20% - 21%
100 bps
Constant currency
20% - 21%
19% - 20%
100 bps
Subscription revenue
$1,326 - $1,341
$1,311 - $1,327
$15
As reported
22% - 24%
21% - 22%
150 bps
Constant currency
21% - 22%
20% - 21%
100 bps
Non-GAAP operating income
$357 - $367
$348 - $358
$9
Non-GAAP operating margin
25.5% - 26%
25% - 25.5%
50 bps
Non-GAAP net income
$309 - $320
$295 - $307
$14
Non-GAAP net income per diluted share
$1.03 - $1.06
$0.98 - $1.02
$0.05
Diluted weighted average shares
outstanding
300 - 301
300 - 301
—
Free cash flow
$303 - $312
$303 - $312
$—
Free cash flow margin
22%
22%
— bps
*Prior guidance was issued on May 17,
2023.
**Changes in our guidance for Revenue
metrics are rounded to the nearest 50 bps.
Reconciliations of non-GAAP operating income, non-GAAP net
income, non-GAAP net income per diluted share and free cash flow
guidance to the most directly comparable GAAP measures are 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, August 2, 2023. To access the
conference call from the U.S. and Canada, dial (866) 405-1247, or
internationally, dial (201) 689-8045 with conference ID# 13739866.
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 16, 2023, by dialing (877) 660-6853
from the U.S. or Canada, or for international callers by dialing
(201) 612-7415 and entering conference ID# 13739866. In addition,
an archived webcast will be available at ir.dynatrace.com.
We announce material financial information to our investors
using our Investor Relations website, press releases, SEC filings
and public conference calls and webcasts. We also use these
channels to disclose information about the company, our planned
financial and other announcements, attendance at upcoming investor
and industry conferences, and for complying with our 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.
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. 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.
Constant Currency amounts for ARR, Total Revenue and
Subscription Revenue are presented to provide a framework for
assessing how our underlying businesses performed excluding the
effect of foreign exchange 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.
Dollar-Based Gross Retention Rate is defined as the ARR
from all customers as of one year prior, less contraction and
customer churn, divided by the total ARR from one year prior. This
metric reflects the percentage of ARR from all customers as of the
year prior that has been retained.
Dollar-Based Net Retention 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. Our dollar-based net
retention rate reflects customer renewals, expansion, contraction
and churn, and excludes the benefit of Dynatrace® ARR resulting
from the conversion of Classic products to the Dynatrace® platform.
Effective the first quarter of fiscal year 2023, we began to
exclude the headwind associated with the Dynatrace perpetual
license ARR given diminishing impact of perpetual license ARR. We
believe that eliminating the perpetual license headwind results in
a dollar-based net retention rate metric that better reflects
Dynatrace’s ability to expand existing customer relationships.
Dollar-based net retention rate is presented on a constant currency
basis.
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.
Free Cash Flow is defined as net cash provided by (used
in) operating activities less capital expenditures (reflected as
"purchase of property and equipment" in our financial
statements).
About Dynatrace
Dynatrace exists to make the world's software work perfectly.
Our unified platform combines broad and deep observability and
continuous runtime application security with the most advanced
AIOps to provide answers and intelligent automation from data at an
enormous scale. This enables innovators to modernize and automate
cloud operations, deliver software faster and more securely, and
ensure flawless digital experiences. That is why the world's
largest organizations trust Dynatrace® to accelerate digital
transformation.
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 Mr. McConnell's remarks and statements regarding
management’s expectations related to the expansion of the company's
Davis AI engine, the proposed acquisition of Rookout (the closing
of which is subject to customary closing conditions and is expected
to occur in the company's second fiscal quarter which ends on
September 30, 2023), the company's extended partnerships, including
with Red Hat and Microsoft, 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 2024. 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 "will," “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, our ability to maintain our revenue growth rates in
future periods; market adoption of our product offerings; continued
demand for, and spending on, our solutions; our ability to innovate
and develop solutions that meet customer needs, including through
Davis AI; the ability of our platform and solutions to effectively
interoperate with customers’ IT infrastructures; our ability to
acquire new customers and retain and expand our relationships with
existing customers; our ability to expand our sales and marketing
capabilities; our ability to compete; our ability to maintain
successful relationships with partners; security breaches, other
security incidents and any real or perceived errors, failures,
defects or vulnerabilities in our solutions; our ability to protect
our intellectual property; our ability to hire and retain necessary
qualified employees to grow our business and expand our operations;
our ability to successfully integrate newly acquired businesses and
offerings; the effect on our business of the macroeconomic
environment, associated global economic conditions and geopolitical
disruption; and other risks set forth under the caption “Risk
Factors” in our Form 10-Q filed on August 2, 2023 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.
Gartner Disclaimers
1) Gartner, Magic Quadrant for Application Performance
Monitoring and Observability, Gregg Siegfried, Mrudula Bangera,
Matt Crossley, Padraig Byrne, 5 July 2023. Dynatrace was recognized
as Compuware from 2010-2014.
2) Gartner, Critical Capabilities for Application Performance
Monitoring and Observability, Mrudula Bangera, Padraig Byrne, Matt
Crossley, Gregg Siegfried, 10 July 2023.
The Gartner content described herein (the “Gartner Content”)
represents research opinion or viewpoints published, as part of a
syndicated subscription service, by Gartner, Inc. ("Gartner"), and
is not a representation of fact. Gartner Content speaks as of its
original publication date (and not as of the date of this earnings
press release), and the opinions expressed in the Gartner Content
are subject to change without notice.
Gartner does not endorse any vendor, product or service depicted
in its research publications, and does not advise technology users
to select only those vendors with the highest ratings or other
designation. Gartner research publications consist of the opinions
of Gartner’s research organization and should not be construed as
statements of fact. Gartner disclaims all warranties, expressed or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose. GARTNER is a
registered trademark and service mark of Gartner, Inc. and/or its
affiliates in the U.S. and internationally, and MAGIC QUADRANT is a
registered trademark of Gartner, Inc. and/or its affiliates and are
used herein with permission. All rights reserved.
DYNATRACE, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(Unaudited – In thousands,
except per share data)
Three Months Ended
June 30,
2023
2022
Revenue:
Subscription
$
316,454
$
249,558
Service
16,432
17,715
Total revenue
332,886
267,273
Cost of revenue:
Cost of subscription
42,904
32,738
Cost of service
15,542
15,168
Amortization of acquired technology
3,898
3,892
Total cost of revenue
62,344
51,798
Gross profit
270,542
215,475
Operating expenses:
Research and development (1)
66,282
49,411
Sales and marketing (1)
125,117
105,673
General and administrative (1)
39,094
34,734
Amortization of other intangibles
5,760
6,573
Restructuring and other
1
(10
)
Total operating expenses
236,254
196,381
Income from operations
34,288
19,094
Interest income (expense), net
7,146
(2,175
)
Other income (expense), net
252
(2,250
)
Income before income taxes
41,686
14,669
Income tax expense
(3,498
)
(12,555
)
Net income
$
38,188
$
2,114
Net income per share:
Basic
$
0.13
$
0.01
Diluted
$
0.13
$
0.01
Weighted average shares outstanding:
Basic
291,325
286,203
Diluted
296,387
290,024
(1) Prior period results have been updated
to allocate depreciation expense to operating expenses based upon
location and headcount.
UNAUDITED SHARE-BASED
COMPENSATION
Three Months Ended
June 30,
2023
2022
Cost of revenue
$
5,488
$
3,890
Research and development
13,264
7,285
Sales and marketing
13,999
10,076
General and administrative
7,767
7,444
Total share-based compensation
$
40,518
$
28,695
DYNATRACE, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands, except share
data)
June 30, 2023
March 31, 2023
(unaudited)
Assets
Current assets:
Cash and cash equivalents
$
700,703
$
555,348
Accounts receivable, net
238,275
442,518
Deferred commissions, current
83,007
83,029
Prepaid expenses and other current
assets
52,443
37,289
Total current assets
1,074,428
1,118,184
Property and equipment, net
54,382
53,576
Operating lease right-of-use assets,
net
71,226
68,074
Goodwill
1,282,134
1,281,812
Other intangible assets, net
53,915
63,599
Deferred tax assets, net
99,068
79,822
Deferred commissions, non-current
78,053
86,232
Other assets
14,106
14,048
Total assets
$
2,727,312
$
2,765,347
Liabilities and shareholders'
equity
Current liabilities:
Accounts payable
$
6,065
$
21,953
Accrued expenses, current
156,146
188,380
Deferred revenue, current
721,817
811,058
Operating lease liabilities, current
15,925
15,652
Total current liabilities
899,953
1,037,043
Deferred revenue, non-current
28,710
34,423
Accrued expenses, non-current
30,723
29,212
Operating lease liabilities,
non-current
62,692
59,520
Deferred tax liabilities
302
280
Total liabilities
1,022,380
1,160,478
Shareholders' equity:
Common shares, $0.001 par value,
600,000,000 shares authorized, 293,159,681 and 290,411,108 shares
issued and outstanding at June 30, 2023 and March 31, 2023,
respectively
293
290
Additional paid-in capital
2,053,086
1,989,797
Accumulated deficit
(315,201
)
(353,389
)
Accumulated other comprehensive loss
(33,246
)
(31,829
)
Total shareholders' equity
1,704,932
1,604,869
Total liabilities and shareholders'
equity
$
2,727,312
$
2,765,347
DYNATRACE, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Unaudited – In
thousands)
Three Months Ended
June 30,
2023
2022
Cash flows from operating
activities:
Net income
$
38,188
$
2,114
Adjustments to reconcile net income to
cash provided by operations:
Depreciation
3,916
2,798
Amortization
9,681
10,571
Share-based compensation
40,518
28,695
Deferred income taxes
(19,327
)
—
Other
(154
)
2,748
Net change in operating assets and
liabilities:
Accounts receivable
204,228
151,404
Deferred commissions
8,545
2,079
Prepaid expenses and other assets
(16,426
)
33,096
Accounts payable and accrued expenses
(39,641
)
(29,815
)
Operating leases, net
277
(142
)
Deferred revenue
(95,902
)
(60,450
)
Net cash provided by operating
activities
133,903
143,098
Cash flows from investing
activities:
Purchase of property and equipment
(10,267
)
(6,906
)
Net cash used in investing activities
(10,267
)
(6,906
)
Cash flows from financing
activities:
Repayment of term loans
—
(30,000
)
Proceeds from employee stock purchase
plan
9,584
8,627
Proceeds from exercise of stock
options
13,190
1,275
Equity repurchases
—
(11
)
Net cash provided by (used in) financing
activities
22,774
(20,109
)
Effect of exchange rates on cash and cash
equivalents
(1,055
)
(7,705
)
Net increase in cash and cash
equivalents
145,355
108,378
Cash and cash equivalents, beginning of
period
555,348
462,967
Cash and cash equivalents, end of
period
$
700,703
$
571,345
DYNATRACE, INC.
GAAP to Non-GAAP
Reconciliations
(Unaudited - In thousands,
except percentages)
Three Months Ended June 30,
2023
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
$
62,344
$
(5,488
)
$
(923
)
$
(3,898
)
$
—
$
52,035
Gross profit
270,542
5,488
923
3,898
—
280,851
Gross margin
81
%
84
%
Research and development
66,282
(13,264
)
(2,262
)
—
—
50,756
Sales and marketing
125,117
(13,999
)
(1,552
)
—
—
109,566
General and administrative
39,094
(7,767
)
(466
)
—
(2,407
)
28,454
Amortization of other intangibles
5,760
—
—
(5,760
)
—
—
Restructuring and other
1
—
—
—
(1
)
—
Operating income
$
34,288
$
40,518
$
5,203
$
9,658
$
2,408
$
92,075
Operating margin
10
%
28
%
Three Months Ended June 30,
2022
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
$
51,798
$
(3,890
)
$
(284
)
$
(3,892
)
$
(350
)
$
43,382
Gross profit
215,475
3,890
284
3,892
350
223,891
Gross margin
81
%
84
%
Research and development (1)
49,411
(7,285
)
(549
)
—
—
41,577
Sales and marketing (1)
105,673
(10,076
)
(598
)
—
—
94,999
General and administrative (1)
34,734
(7,444
)
(211
)
—
(79
)
27,000
Amortization of other intangibles
6,573
—
—
(6,573
)
—
—
Restructuring and other
(10
)
—
—
—
10
—
Operating income
$
19,094
$
28,695
$
1,642
$
10,465
$
419
$
60,315
Operating margin
7
%
23
%
(1) Prior period results have been updated
to allocate depreciation expense to operating expenses based upon
location and headcount.
DYNATRACE, INC.
GAAP to Non-GAAP
Reconciliations
(Unaudited - In thousands,
except per share data)
Three Months Ended June
30,
2023
2022
Non-GAAP net income:
Net income
$
38,188
$
2,114
Income tax expense
3,498
12,555
Non-GAAP effective cash tax
(18,542
)
(6,407
)
Interest (income) expense, net
(7,146
)
2,175
Cash received from (paid for) interest,
net
5,512
(2,066
)
Share-based compensation
40,518
28,695
Employer payroll taxes on employee stock
transactions
5,203
1,642
Amortization of other intangibles
5,760
6,573
Amortization of acquired technology
3,898
3,892
Transaction, restructuring, and other
2,408
419
(Gain) loss on currency translation
(252
)
2,250
Non-GAAP net income
$
79,045
$
51,842
Share count:
Weighted-average shares outstanding -
basic
291,325
286,203
Weighted-average shares outstanding -
diluted
296,387
290,024
Shares used in non-GAAP per share
calculations:
Weighted-average shares outstanding -
basic
291,325
286,203
Weighted-average shares outstanding -
diluted
296,387
290,024
Non-GAAP net income per share:
Net income per share - basic
$
0.13
$
0.01
Net income per share - diluted
$
0.13
$
0.01
Non-GAAP net income per share - basic
$
0.27
$
0.18
Non-GAAP net income per share -
diluted
$
0.27
$
0.18
Three Months Ended June
30,
2023
2022
Free Cash Flow ("FCF"):
Net cash provided by operating
activities
$
133,903
$
143,098
Purchase of property and equipment
(10,267
)
(6,906
)
FCF
$
123,636
$
136,192
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230802762622/en/
Investor Contact: Noelle Faris VP, Investor Relations
Noelle.Faris@dynatrace.com
Media Relations: Jerome Stewart VP, Communications
Jerome.Stewart@dynatrace.com
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