Fourth quarter highlights
Full-year highlights
CAMBRIDGE, Mass., Feb. 20, 2025 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online, today reported financial results for the fourth quarter and full-year ended December 31, 2024.
"Akamai delivered a solid fourth quarter, demonstrating robust profitability and sustained momentum across our security and cloud computing solutions," said Dr. Tom Leighton, Akamai's Chief Executive Officer. "We are encouraged by our latest results and the market adoption of our newest product innovations. As we head into 2025, our focus on delivering sustainable profitability across all areas of our business, coupled with our ongoing transformation into a leading cybersecurity and cloud solutions provider, positions us for long-term success."
Akamai delivered the following results for the fourth quarter and full-year ended December 31, 2024:
Revenue: Revenue for the fourth quarter was $1.020 billion, a 3% increase over fourth quarter 2023 revenue of $995 million and a 3% increase when adjusted for foreign exchange.* Total revenue for 2024 was $3.991 billion compared to $3.812 billion for 2023, up 5% year-over-year and when adjusted for foreign exchange.*
Revenue by solution:
Revenue by geography:
Income from operations: GAAP income from operations for the fourth quarter was $148 million, a 20% decrease from fourth quarter 2023 income from operations of $185 million. GAAP operating margin for the fourth quarter was 15%, down 4 percentage points from the same period last year. GAAP income from operations for 2024 was $533 million, a 16% decrease from the prior year's GAAP income from operations of $637 million. Full-year GAAP operating margin was 13%, down 4 percentage points from the same period last year.
Non-GAAP income from operations* for the fourth quarter was $298 million, a 2% decrease from fourth quarter 2023 non-GAAP income from operations* of $303 million. Non-GAAP operating margin* for the fourth quarter was 29%, down 1 percentage point from the same period last year. Non-GAAP income from operations* for 2024 was $1.167 billion, a 3% increase from the prior year's non-GAAP income from operations* of $1.136 billion. Full-year non-GAAP operating margin* was 29%, down 1 percentage point from the same period last year.
Net income: GAAP net income for the fourth quarter was $140 million, a 13% decrease from fourth quarter 2023 GAAP net income of $161 million. GAAP net income for 2024 was $505 million, an 8% decrease from the prior year's GAAP net income of $548 million.
Non-GAAP net income* for the fourth quarter was $254 million, a 3% decrease from fourth quarter 2023 non-GAAP net income* of $263 million. Non-GAAP net income* for 2024 was $996 million, a 4% increase from the prior year's non-GAAP net income* of $960 million.
EPS: GAAP net income per diluted share for the fourth quarter was $0.91, a 12% decrease from fourth quarter 2023 GAAP net income per diluted share of $1.03 and a 9% decrease when adjusted for foreign exchange.* GAAP net income per diluted share for 2024 was $3.27, a 7% decrease from the prior year's GAAP net income per diluted share of $3.52 and a 4% decrease when adjusted for foreign exchange.*
Non-GAAP net income per diluted share* for the fourth quarter was $1.66, a 2% decrease from fourth quarter 2023 non-GAAP net income per diluted share* of $1.69 and flat when adjusted for foreign exchange.* Non-GAAP net income per diluted share* for 2024 was $6.48, a 5% increase from the prior year's non-GAAP net income per diluted share* of $6.20 and a 6% increase when adjusted for foreign exchange.*
Adjusted EBITDA*: Adjusted EBITDA* for the fourth quarter was $429 million, a 1% increase from fourth quarter 2023 Adjusted EBITDA* of $426 million. Adjusted EBITDA* for 2024 was $1.682 billion, a 5% increase from the prior year's Adjusted EBITDA* of $1.608 billion.
Supplemental cash information: Cash from operations for the fourth quarter was $344 million, or 34% of revenue. Cash from operations for 2024 was $1.519 billion, or 38% of revenue. Cash, cash equivalents and marketable securities was $1.872 billion as of December 31, 2024.
Share repurchases: The Company spent $138 million in the fourth quarter of 2024 to repurchase 1.4 million shares of its common stock at an average price of $97.43 per share. For the full-year 2024, the Company spent $557 million to repurchase 5.6 million shares of its common stock at an average price of $99.14 per share. The Company had 150 million shares of common stock outstanding as of December 31, 2024.
Financial guidance: The Company reports the following financial guidance for the first quarter and full year 2025:
| | Three Months Ending March 31, 2025 | | Year Ending December 31, 2025 | ||||
| | Low End | | High End | | Low End | | High End |
| Revenue (in millions) | $ 1,000 | | $ 1,020 | | $ 4,000 | | $ 4,200 |
| Non-GAAP operating margin * | 28 % | | 28 % | | 28 % | | 28 % |
| Non-GAAP net income per diluted share * | $ 1.54 | | $ 1.59 | | $ 6.00 | | $ 6.40 |
| Non-GAAP tax rate* | 19.5 % | | 19.5 % | | 19.5 % | | 19.5 % |
| Shares used in non-GAAP per diluted share calculations * (in millions) | 152 | | 152 | | 152 | | 152 |
| Capex as a percentage of revenue * | 24 % | | 24 % | | 19 % | | 19 % |
The guidance that is provided on a non-GAAP basis cannot be reconciled to the closest GAAP measures without unreasonable effort because of the unpredictability of the amounts and timing of events affecting the items Akamai excludes from non-GAAP measures. For example, stock-based compensation is unpredictable for Akamai's performance-based awards, which can fluctuate significantly based on current expectations of the future achievement of performance-based targets. Amortization of intangible assets, acquisition-related costs and restructuring costs are all impacted by the timing and size of potential future actions, which are difficult to predict. In addition, from time to time, Akamai excludes certain items that occur infrequently, which are also inherently difficult to predict and estimate. It is also difficult to predict the tax effect of the items Akamai excludes and to estimate certain discrete tax items, such as the resolution of tax audits or changes to tax laws. As such, the costs that are being excluded from non-GAAP guidance are difficult to predict and a reconciliation or a range of results could lead to disclosure that would be imprecise or potentially misleading. Material changes to any one of the exclusions could have a significant effect on our guidance and future GAAP results.
* See Use of Non-GAAP Financial Measures below for definitions
Quarterly Conference Call
Akamai will host a conference call today at 4:30 p.m. ET that can be accessed through 1-833-634-5020 (or 1-412-902-4238 for international calls) and using passcode Akamai Technologies Call. A live webcast of the call may be accessed at www.akamai.com in the Investor Relations section. In addition, a replay of the call will be available for two weeks following the conference by calling 1-877-344-7529 (or 1-412-317-0088 for international calls) and using passcode 3157633. The archived webcast of this event may be accessed through the Akamai website.
About Akamai
Akamai is the cybersecurity and cloud computing company that powers and protects business online. Our market-leading security solutions, superior threat intelligence and global operations team provide defense-in-depth to safeguard enterprise data and applications everywhere. Akamai's full-stack cloud computing solutions deliver performance and affordability on the world's most distributed platform. Global enterprises trust Akamai to provide the industry-leading reliability, scale and expertise they need to grow their business with confidence. Learn more about Akamai's cloud computing, security and content delivery solutions at akamai.com and akamai.com/blog, or follow Akamai Technologies on X, formerly known as Twitter, and LinkedIn.
| AKAMAI TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS | |||
| | |||
| (in thousands) | December 31, | | December 31, |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash equivalents | $ 517,707 | | $ 489,468 |
| Marketable securities | 1,078,876 | | 374,971 |
| Accounts receivable, net | 727,687 | | 724,302 |
| Prepaid expenses and other current assets | 253,827 | | 216,114 |
| Total current assets | 2,578,097 | | 1,804,855 |
| Marketable securities | 275,592 | | 1,431,354 |
| Property and equipment, net | 1,995,071 | | 1,825,944 |
| Operating lease right-of-use assets | 1,006,738 | | 908,634 |
| Acquired intangible assets, net | 727,585 | | 536,143 |
| Goodwill | 3,151,077 | | 2,850,470 |
| Deferred income tax assets | 483,249 | | 418,297 |
| Other assets | 151,376 | | 124,340 |
| Total assets | $ 10,368,785 | | $ 9,900,037 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | | | |
| Current liabilities: | | | |
| Accounts payable | $ 130,447 | | $ 146,927 |
| Accrued expenses | 370,888 | | 352,181 |
| Deferred revenue | 149,222 | | 107,544 |
| Convertible senior notes | 1,149,116 | | — |
| Operating lease liabilities | 259,134 | | 222,944 |
| Other current liabilities | 32,516 | | 6,442 |
| Total current liabilities | 2,091,323 | | 836,038 |
| Deferred revenue | 26,314 | | 23,006 |
| Deferred income tax liabilities | 16,066 | | 24,622 |
| Convertible senior notes | 2,396,695 | | 3,538,229 |
| Operating lease liabilities | 829,660 | | 774,806 |
| Other liabilities | 130,370 | | 106,181 |
| Total liabilities | 5,490,428 | | 5,302,882 |
| Total stockholders' equity | 4,878,357 | | 4,597,155 |
| Total liabilities and stockholders' equity | $ 10,368,785 | | $ 9,900,037 |
| AKAMAI TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| (in thousands, except per share data) | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
| Revenue | $ 1,019,939 | | $ 1,004,679 | | $ 995,017 | | $ 3,991,168 | | $ 3,811,920 |
| Costs and operating expenses: | | | | | | | | | |
| Cost of revenue (1) (2) | 414,356 | | 408,806 | | 393,397 | | 1,620,793 | | 1,511,063 |
| Research and development (1) | 120,245 | | 120,347 | | 109,202 | | 470,876 | | 406,048 |
| Sales and marketing (1) | 144,621 | | 138,551 | | 135,256 | | 556,781 | | 533,226 |
| General and administrative (1) (2) | 155,544 | | 159,957 | | 155,575 | | 621,785 | | 600,851 |
| Amortization of acquired intangible assets | 25,614 | | 24,368 | | 16,833 | | 92,081 | | 66,751 |
| Restructuring charge (benefit) | 11,499 | | 82,013 | | (32) | | 95,441 | | 56,643 |
| Total costs and operating expenses | 871,879 | | 934,042 | | 810,231 | | 3,457,757 | | 3,174,582 |
| Income from operations | 148,060 | | 70,637 | | 184,786 | | 533,411 | | 637,338 |
| Interest and marketable securities income, net | 22,746 | | 23,065 | | 23,981 | | 100,280 | | 45,194 |
| Interest expense | (6,735) | | (6,735) | | (6,884) | | (27,117) | | (17,709) |
| Other expense, net | (5,962) | | (13,161) | | (5,642) | | (19,561) | | (12,296) |
| Income before provision for income taxes | 158,109 | | 73,806 | | 196,241 | | 587,013 | | 652,527 |
| Provision for income taxes | (18,204) | | (15,899) | | (35,076) | | (82,095) | | (106,373) |
| Gain from equity method investment | — | | — | | — | | — | | 1,475 |
| Net income | $ 139,905 | | $ 57,907 | | $ 161,165 | | $ 504,918 | | $ 547,629 |
| | | | | | | | | | |
| Net income per share: | | | | | | | | | |
| Basic | $ 0.93 | | $ 0.38 | | $ 1.07 | | $ 3.34 | | $ 3.59 |
| Diluted | $ 0.91 | | $ 0.38 | | $ 1.03 | | $ 3.27 | | $ 3.52 |
| | | | | | | | | | |
| Shares used in per share calculations: | | | | | | | | | |
| Basic | 150,240 | | 151,435 | | 150,979 | | 151,392 | | 152,510 |
| Diluted | 153,091 | | 153,240 | | 157,024 | | 154,346 | | 155,397 |
| | |||||||||
| (1) Includes stock-based compensation (see supplemental table for figures) | |||||||||
| (2) Includes depreciation and amortization (see supplemental table for figures) | |||||||||
| AKAMAI TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| (in thousands) | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
| Cash flows from operating activities: | | | | | | | | | |
| Net income | $ 139,905 | | $ 57,907 | | $ 161,165 | | $ 504,918 | | $ 547,629 |
| Adjustments to reconcile net income to | | | | | | | | | |
| Depreciation and amortization | 167,949 | | 165,729 | | 147,634 | | 648,410 | | 570,776 |
| Stock-based compensation | 99,045 | | 102,607 | | 92,123 | | 393,378 | | 328,467 |
| Benefit for deferred income taxes | (71,206) | | (2,541) | | (13,224) | | (70,268) | | (22,987) |
| Amortization of debt issuance costs | 1,588 | | 1,591 | | 1,741 | | 6,521 | | 5,341 |
| Loss (gain) on investments | 5,000 | | — | | — | | 5,066 | | (311) |
| Other non-cash reconciling items, net | 19,797 | | 41,733 | | 5,019 | | 65,488 | | 50,221 |
| Changes in operating assets and liabilities, | | | | | | | | | |
| Accounts receivable | (50,392) | | 11,290 | | (2,941) | | (22,300) | | (49,203) |
| Prepaid expenses and other current assets | (20,614) | | (717) | | (2,623) | | (46,094) | | (18,726) |
| Accounts payable and accrued expenses | 79,535 | | (31,765) | | 20,345 | | 344 | | (39,825) |
| Deferred revenue | 6,709 | | (8,719) | | (24,098) | | 20,687 | | 48 |
| Other current liabilities | (15,490) | | 41,370 | | (774) | | 26,860 | | 1,516 |
| Other non-current assets and liabilities | (18,038) | | 14,057 | | 4,826 | | (13,839) | | (24,507) |
| Net cash provided by operating activities | 343,788 | | 392,542 | | 389,193 | | 1,519,171 | | 1,348,439 |
| Cash flows from investing activities: | | | | | | | | | |
| Cash paid for business acquisitions, net of cash acquired | — | | — | | — | | (434,066) | | (106,171) |
| Cash paid for asset acquisitions | (127,973) | | (66) | | (84,637) | | (132,835) | | (120,985) |
| Purchases of property and equipment and capitalization of | (162,859) | | (185,117) | | (133,887) | | (685,267) | | (730,040) |
| Purchases of short- and long-term marketable securities | (34,535) | | (15,519) | | (277,053) | | (236,176) | | (1,461,890) |
| Proceeds from sales, maturities and redemptions of short- | 81,368 | | 84,849 | | 178,382 | | 685,692 | | 576,917 |
| Other, net | (187) | | (375) | | 1,362 | | 3,973 | | (6,069) |
| Net cash used in investing activities | (244,186) | | (116,228) | | (315,833) | | (798,679) | | (1,848,238) |
| AKAMAI TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, continued | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| (in thousands) | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
| Cash flows from financing activities: | | | | | | | | | |
| Proceeds from borrowings under revolving credit facility | — | | — | | — | | — | | 90,000 |
| Repayment from borrowings under revolving credit facility | — | | — | | — | | — | | (90,000) |
| Proceeds from the issuance of convertible senior notes, net of issuance costs | — | | — | | — | | — | | 1,247,388 |
| Proceeds from the issuance of warrants related to convertible senior notes | — | | — | | — | | — | | 90,195 |
| Purchases of note hedges related to convertible senior notes | — | | — | | — | | — | | (236,555) |
| Proceeds from the issuance of common stock under stock plans | 13,805 | | 19,442 | | 13,426 | | 61,513 | | 62,979 |
| Employee taxes paid related to net share settlement of stock-based awards | (16,061) | | (15,868) | | (15,312) | | (173,176) | | (66,222) |
| Repurchases of common stock | (138,371) | | (165,839) | | (54,891) | | (557,468) | | (654,046) |
| Other, net | (213) | | (104) | | — | | (10,504) | | (360) |
| Net cash (used in) provided by financing activities | (140,840) | | (162,369) | | (56,777) | | (679,635) | | 443,379 |
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | (12,431) | | 9,494 | | 11,597 | | (12,243) | | 3,868 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (53,669) | | 123,439 | | 28,180 | | 28,614 | | (52,552) |
| Cash, cash equivalents and restricted cash at beginning of period | 572,753 | | 449,314 | | 462,290 | | 490,470 | | 543,022 |
| Cash, cash equivalents and restricted cash at end of period | $ 519,084 | | $ 572,753 | | $ 490,470 | | $ 519,084 | | $ 490,470 |
| AKAMAI TECHNOLOGIES, INC. SUPPLEMENTAL REVENUE DATA – REVENUE BY SOLUTION | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| (in thousands) | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
| Security | $ 534,602 | | $ 518,670 | | $ 470,977 | | $ 2,042,661 | | $ 1,765,267 |
| Delivery | 317,842 | | 319,132 | | 389,048 | | 1,318,131 | | 1,542,434 |
| Compute | 167,495 | | 166,877 | | 134,992 | | 630,376 | | 504,219 |
| Total revenue | $ 1,019,939 | | $ 1,004,679 | | $ 995,017 | | $ 3,991,168 | | $ 3,811,920 |
| Revenue growth rates year-over-year: | | | | | | | | | |
| Security | 14 % | | 14 % | | 18 % | | 16 % | | 14 % |
| Delivery | (18) | | (16) | | (6) | | (15) | | (8) |
| Compute | 24 | | 28 | | 20 | | 25 | | 24 |
| Total revenue | 3 % | | 4 % | | 7 % | | 5 % | | 5 % |
| Revenue growth rates year-over-year, adjusted for the impact of foreign exchange rates (1): | | | | | | | | | |
| Security | 14 % | | 14 % | | 17 % | | 16 % | | 15 % |
| Delivery | (18) | | (16) | | (7) | | (14) | | (7) |
| Compute | 25 | | 28 | | 20 | | 25 | | 25 |
| Total revenue | 3 % | | 4 % | | 7 % | | 5 % | | 6 % |
| AKAMAI TECHNOLOGIES, INC. SUPPLEMENTAL REVENUE DATA – REVENUE BY GEOGRAPHY | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| (in thousands) | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
| U.S. | $ 529,879 | | $ 524,611 | | $ 516,348 | | $ 2,075,533 | | $ 1,968,779 |
| International | 490,060 | | 480,068 | | 478,669 | | 1,915,635 | | 1,843,141 |
| Total revenue | $ 1,019,939 | | $ 1,004,679 | | $ 995,017 | | $ 3,991,168 | | $ 3,811,920 |
| Revenue growth rates year-over-year: | | | | | | | | | |
| U.S. | 3 % | | 5 % | | 7 % | | 5 % | | 4 % |
| International | 2 | | 3 | | 8 | | 4 | | 7 |
| Total revenue | 3 % | | 4 % | | 7 % | | 5 % | | 5 % |
| Revenue growth rates year-over-year, adjusted for the impact of foreign exchange rates (1): | | | | | | | | | |
| U.S. | 3 % | | 5 % | | 7 % | | 5 % | | 4 % |
| International | 4 | | 3 | | 6 | | 5 | | 8 |
| Total revenue | 3 % | | 4 % | | 7 % | | 5 % | | 6 % |
| | |||||||||
| (1) See Use of Non-GAAP Financial Measures below for a definition | |||||||||
| AKAMAI TECHNOLOGIES, INC. OTHER SUPPLEMENTAL DATA | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| (in thousands, except end of period statistics) | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
| Stock-based compensation: | | | | | | | | | |
| Cost of revenue | $ 16,129 | | $ 16,566 | | $ 11,898 | | $ 61,177 | | $ 43,802 |
| Research and development | 37,843 | | 39,275 | | 36,428 | | 152,114 | | 123,896 |
| Sales and marketing | 18,730 | | 21,076 | | 17,895 | | 77,593 | | 66,453 |
| General and administrative | 26,343 | | 25,690 | | 25,902 | | 102,494 | | 94,316 |
| Total stock-based compensation | $ 99,045 | | $ 102,607 | | $ 92,123 | | $ 393,378 | | $ 328,467 |
| | | | | | | | | | |
| Depreciation and amortization: | | | | | | | | | |
| Network-related depreciation | $ 74,949 | | $ 72,546 | | $ 63,225 | | $ 282,106 | | $ 231,500 |
| Capitalized internal-use software development amortization | 40,343 | | 41,973 | | 43,919 | | 168,355 | | 176,675 |
| Other depreciation and amortization | 15,983 | | 15,998 | | 16,170 | | 63,994 | | 63,860 |
| Depreciation of property and equipment | 131,275 | | 130,517 | | 123,314 | | 514,455 | | 472,035 |
| Capitalized stock-based compensation amortization (1) | 10,952 | | 10,740 | | 7,379 | | 41,452 | | 31,548 |
| Capitalized interest expense amortization (1) | 108 | | 104 | | 108 | | 422 | | 442 |
| Amortization of acquired intangible assets | 25,614 | | 24,368 | | 16,833 | | 92,081 | | 66,751 |
| Total depreciation and amortization | $ 167,949 | | $ 165,729 | | $ 147,634 | | $ 648,410 | | $ 570,776 |
| | | | | | | | | | |
| Capital expenditures (2) (3): | | | | | | | | | |
| Purchases of property and equipment | $ 122,694 | | $ 91,600 | | $ 80,408 | | $ 383,392 | | $ 459,167 |
| Capitalized internal-use software development costs | 69,974 | | 72,391 | | 62,355 | | 292,509 | | 258,626 |
| Total capital expenditures | $ 192,668 | | $ 163,991 | | $ 142,763 | | $ 675,901 | | $ 717,793 |
| Capex as a percentage of revenue (3) | 19 % | | 16 % | | 14 % | | 17 % | | 19 % |
| | | | | | | | | | |
| End of period statistics: | | | | | | | | | |
| Number of employees | 10,748 | | 10,947 | | 10,281 | | | | |
| | |
| (1) | Amortization of capitalized stock-based compensation and interest expense in this table excludes amortization of capitalized stock-based compensation and interest expense capitalized related to cloud-computing arrangements and contract fulfillment costs. However, the amounts are included in our total amortization of capitalized stock-based compensation and interest expense that is excluded from our non-GAAP measures (see reconciliations of GAAP to non-GAAP measures). |
| (2) | Capital expenditures presented in this table are reported on an accrual basis, which differs from the cash-basis presentation in the statements of cash flows. The primary difference between the two is the change in purchases of property and equipment and capitalization of internal-use software development costs accrued for, but not paid, at period end versus prior periods. |
| (3) | See Use of Non-GAAP Financial Measures below for a definition. |
| AKAMAI TECHNOLOGIES, INC. RECONCILIATION OF GAAP TO NON-GAAP INCOME FROM OPERATIONS, NET INCOME AND TAX RATE | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| (in thousands) | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
| Income from operations | $ 148,060 | | $ 70,637 | | $ 184,786 | | $ 533,411 | | $ 637,338 |
| GAAP operating margin | 15 % | | 7 % | | 19 % | | 13 % | | 17 % |
| Amortization of acquired intangible assets | 25,614 | | 24,368 | | 16,833 | | 92,081 | | 66,751 |
| Stock-based compensation | 99,045 | | 102,607 | | 92,123 | | 393,378 | | 328,467 |
| Amortization of capitalized stock-based compensation and capitalized interest expense | 11,264 | | 11,089 | | 7,774 | | 42,910 | | 32,981 |
| Restructuring charge (benefit) | 11,499 | | 82,013 | | (32) | | 95,441 | | 56,643 |
| Acquisition-related costs | 115 | | 5,036 | | 1,189 | | 7,502 | | 13,345 |
| Legal settlements | 2,500 | | — | | — | | 2,500 | | — |
| Operating adjustments | 150,037 | | 225,113 | | 117,887 | | 633,812 | | 498,187 |
| Non-GAAP income from operations | $ 298,097 | | $ 295,750 | | $ 302,673 | | $ 1,167,223 | | $ 1,135,525 |
| Non-GAAP operating margin | 29 % | | 29 % | | 30 % | | 29 % | | 30 % |
| | | | | | | | | | |
| Net income | $ 139,905 | | $ 57,907 | | $ 161,165 | | $ 504,918 | | $ 547,629 |
| Operating adjustments (from above) | 150,037 | | 225,113 | | 117,887 | | 633,812 | | 498,187 |
| Amortization of debt issuance costs | 1,588 | | 1,591 | | 1,741 | | 6,521 | | 5,341 |
| Loss (gain) on cost method investments | 5,000 | | — | | — | | 5,066 | | (311) |
| Gain from equity method investment | — | | — | | — | | — | | (1,475) |
| Income tax effect of above non-GAAP adjustments and certain discrete tax items | (42,605) | | (41,097) | | (18,162) | | (154,735) | | (89,364) |
| Non-GAAP net income | $ 253,925 | | $ 243,514 | | $ 262,631 | | $ 995,582 | | $ 960,007 |
| | | | | | | | | | |
| GAAP tax rate | 12 % | | 22 % | | 18 % | | 14 % | | 16 % |
| Income tax effect of non-GAAP adjustments and certain discrete tax items | 7 | | (3) | | (1) | | 5 | | 1 |
| Non-GAAP tax rate | 19 % | | 19 % | | 17 % | | 19 % | | 17 % |
| AKAMAI TECHNOLOGIES, INC. RECONCILIATION OF GAAP TO NON-GAAP NET INCOME PER DILUTED SHARE | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| (in thousands, except per share data) | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
| GAAP net income per diluted share | $ 0.91 | | $ 0.38 | | $ 1.03 | | $ 3.27 | | $ 3.52 |
| Adjustments to net income: | | | | | | | | | |
| Amortization of acquired intangible assets | 0.17 | | 0.16 | | 0.11 | | 0.60 | | 0.43 |
| Stock-based compensation | 0.65 | | 0.67 | | 0.59 | | 2.55 | | 2.11 |
| Amortization of capitalized stock-based compensation and capitalized interest expense | 0.07 | | 0.07 | | 0.05 | | 0.28 | | 0.21 |
| Restructuring charge (benefit) | 0.08 | | 0.54 | | — | | 0.62 | | 0.36 |
| Acquisition-related costs | — | | 0.03 | | 0.01 | | 0.05 | | 0.09 |
| Legal settlements | 0.02 | | — | | — | | 0.02 | | — Für dich aus unserer Redaktion zusammengestelltDein Kommentar zum Artikel im Forum Jetzt anmelden und diskutieren
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