# Historical Financials

## Statement of Operations by Fiscal Year, In Millions USD

|  | FY-21 | FY-22 | FY-23 | FY-24 | FY-25 |
| --- | --- | --- | --- | --- | --- |
| Revenues: |  |  |  |  |  |
| Products and licenses | 513.9 | 554.9 | 497.4 | 507.9 | 548.2 |
| Security subscriptions | 755.2 | 858.0 | 981.2 | 1,104.2 | 1,219.0 |
| Software updates and maintenance | 897.7 | 917.0 | 936.1 | 952.9 | 958.2 |
| **Total revenues** | 2,166.8 | 2,329.9 | 2,414.7 | 2,565.0 | 2,725.4 |
| Operating expenses: |  |  |  |  |  |
| Cost of products and licenses | 110.3 | 145.2 | 98.9 | 97.4 | 105.2 |
| Cost of security subscriptions | 35.9 | 41.4 | 57.0 | 72.6 | 90.9 |
| Cost of Software updates and maintenance | 98.6 | 100.5 | 105.0 | 115.7 | 119.1 |
| Total cost of revenues | 244.8 | 287.1 | 260.9 | 285.7 | 315.2 |
| Research & Development | 255.3 | 300.8 | 313.2 | 335.3 | 375.8 |
| Selling and Marketing | 547.7 | 627.8 | 677.1 | 764.4 | 827.1 |
| General & Administrative | 69.8 | 75.3 | 84.4 | 82.1 | 93.4 |
| **Total operating expenses Non-GAAP*** | **1,117.6** | **1,291.0** | **1,335.6** | **1,467.5** | **1,611.5** |
| Stock-based compensation | 120.3 | 131.4 | 145.3 | 149.7 | 205.6 |
| Amortization of intangible assets & acquisition related expenses and acquisition related costs | 21.4 | 23.2 | 34.7 | 71.8 | 77.2 |
| **Total operating expenses GAAP** | **1,259.3** | **1,445.6** | **1,515.6** | **1,689.0** | **1,894.3** |
| **Operating income GAAP** | **907.5** | **884.3** | **899.1** | **876.0** | **831.1** |
| **Operating income Non-GAAP*** | **1,049.2** | **1,038.9** | **1,079.1** | **1,097.5** | **1,113.9** |
| Financial income, net | 42.1 | 44.0 | 76.5 | 96.1 | 114.0 |
| Financial income, net Non-GAAP* | 42.1 | 44.0 | 76.5 | 96.1 | 114.4 |
| **Income before taxes GAAP** | **949.6** | **928.3** | **975.6** | **972.1** | **945.1** |
| **Income before taxes Non-GAAP*** | **1,091.3** | **1,082.9** | **1,155.6** | **1,193.6** | **1,228.3** |
| Income taxes GAAP | 134.0 | 131.4 | 135.3 | 126.4 | (111.8) |
| Income taxes Non-GAAP* | 149.3 | 148.0 | 158.6 | 154.5 | (78.9) |
| **Net income GAAP** | **815.6** | **796.9** | **840.3** | **845.7** | **1,056.9** |
| **Net income Non GAAP *** | **942.0** | **934.9** | **997.1** | **1,039.1** | **1,307.2** |
| **Earning Per Share (Diluted) GAAP** | **6.08** | **6.31** | **7.10** | **7.46** | **9.62** |
| **Earning Per Share (Diluted) Non GAAP *** | **7.02** | **7.40** | **8.42** | **9.16** | **11.89** |
| Shares Outstanding (Diluted) | 134.1 | 126.3 | 118.3 | 113.4 | 109.9 |

Non-GAAP excludes equity-based compensation charges, amortization of acquired intangibles, acquisition related expenses and amortization of debt discount and issuance costs and their related tax effects.