EX-99.1 2 exhibit991q42021pressrelea.htm EX-99.1 Document
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EXHIBIT 99.1
Datto Announces Fourth Quarter and Full Year 2021 Financial Results
Fourth quarter subscription revenue grew 19 percent year-over-year to $153.2 million
ARR grew 21 percent year-over-year to $658.4 million
Norwalk, CT – February 23, 2022—Datto Holding Corp. (Datto) (NYSE: MSP), the leading global provider of security and cloud-based software solutions purpose-built for Managed Service Providers (MSPs), today announced its financial results for the fourth quarter and full year ended December 31, 2021.
“We finished 2021 on a strong note with another quarter of accelerating growth” said Tim Weller, Datto’s Chief Executive Officer. “The fourth quarter capped an exceptional year for Datto and our MSP partners. We exceeded all of our targets in our first full year as a public company and launched several new, highly differentiated products that help our MSP partners better secure digital assets on behalf of their SMB clients. MSPs now find themselves squarely in the security business, and Datto is right there with them. We further solidified Datto’s leading position in security solutions with the early 2022 acquisition of cybersecurity firm Infocyte. 2022 is shaping up to be another exciting year for Datto as we continue to help our MSP partners on their security journey with our new products ramping and more on the way.”
Fourth Quarter and Full Year 2021 Financial Results
(In Millions)  Q4 2021 Q4 2020 Y/Y ChangeFY 2021FY 2020Y/Y Change
Subscription Revenue(1)
  $153.2$129.0 19%$577.3$485.319%
Total Revenue(1)
  $164.3$139.0 18%$618.7$518.819%
ARR(2)
  $658.4$542.8 21%$658.4$542.821%
Gross Margin  70%69% 88 bps71%71%45 bps
Non-GAAP Gross Margin(3)
72%74%(108 bps)74%73%74 bps
Net Income  $5.7$(7.2) N/M$51.4$22.5129%
Adjusted EBITDA(3)
  $39.8$40.8 (3)%$175.4$150.517%
Net Cash Provided by Operating Activities$26.3$34.6(24)%$125.4$108.715%
Free Cash Flow(3)
  $11.2$22.7 (51)%$78.1$68.215%
1Subscription and Total Revenue Y/Y percentage change includes benefits from favorable foreign exchange rates of approximately 25 basis points for the fourth quarter and 200 basis points for the full year.
2Annual run-rate revenue (ARR) is the annualized value of all subscription agreements as of the end of a period. We calculate ARR by multiplying the monthly run-rate revenue for the last month of a period by 12.
3A reconciliation of GAAP to non-GAAP financial measures is provided in the financial statement tables included in this press release. An explanation of these measures is also included under the heading “Non-GAAP Financial Measures.”

Recent Highlights

•Ended the quarter with more than 18,500 MSP partners, a net increase of 1,500 (+9%) from the previous year.
•Ended the quarter with average ARR per MSP of approximately $35,600, an increase of approximately $3,600 (+11%) from the previous year.
•Expanded the number of MSPs contributing over $100,000 ARR to 1,400, a 27% increase from 1,100 at December 31, 2020.
•Acquired cybersecurity company Infocyte, an innovator in Endpoint Detection and Response (EDR) technologies and Managed Detection and Response (MDR) services. The Infocyte team and technology augment Datto’s capabilities within the critical Protect, Detect, and Respond stages of the NIST security framework, and add to the Company’s rapidly expanding set of MSP-delivered security offerings.
•Released a tool for MSPs to combat the Apache Log4j vulnerability. This endpoint assessment software works with any Remote Monitoring and Management (RMM) solution and can uniquely enumerate potentially vulnerable systems, detect intrusion attempts, and inoculate Windows systems against Log4j attacks.
•In support of Datto’s growth strategy and commitment to the DACH region (Germany, Austria, and Switzerland), the Company announced a partnership with Infinigate, a leading Value-Added Distributor of cybersecurity solutions in Europe. Infinigate has a large customer base in DACH and will strengthen our sales efforts in the region and help attract new MSPs to Datto through a proven selling model.
•Announced that Brooke Cunningham has joined the Company as Datto’s Chief Marketing Officer and Emily Tabak Epstein has joined as General Counsel.









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First Quarter and Full Year 2022 Financial Outlook
Datto is providing the following guidance for the first quarter and full-year 2022:
 
 (In Millions)  Q1 2022 Outlook  FY 2022 Outlook
Total Revenue (1)
  $168 - $169  $720 - $726
Y/Y growth as reported16% - 17%  16% - 17%
Y/Y growth constant currency17% - 18%18% - 19%
Subscription Revenue (1)
$158 - $159$676 - $682
Y/Y growth as reported17% - 17%17% - 18%
Y/Y growth constant currency18% - 19%18% - 19%
Adjusted EBITDA$37 - $38$163 - $168
Adjusted EBITDA margin22%23%
1
Subscription and Total Revenue guidance include foreign exchange rate assumptions which reduce Y/Y growth rates by approximately 150 basis points for the first quarter and 130 basis points for the full year and which are excluded in the constant currency growth rates.

Datto Fourth Quarter and Full-Year 2021 Results Conference Call
When: Wednesday, February 23, 2022
Time: 5:00 pm ET
Conference ID: 8751783
Live Call: 1-888-660-6179 (US/Canada Toll-Free) or 1-929-203-1946 (International)
Replay: 1-800-770-2030 (US/Canada Toll-Free) or 1-647-362-9199 (International)
(The replay will be available approximately two hours after the completion of the live call)
Webcast: https://investors.datto.com
About Datto
As the leading global provider of security and cloud-based software solutions purpose-built for Managed Service Providers (MSPs), Datto believes there is no limit to what small and medium businesses (SMBs) can achieve with the right technology. Datto’s proven Unified Continuity, Networking, Endpoint Management, and Business Management solutions drive cyber resilience, efficiency, and growth for MSPs. Delivered via an integrated platform, Datto’s solutions help its global ecosystem of MSP partners serve over one million businesses around the world. From proactive dynamic detection and prevention to fast, flexible recovery from cyber incidents, Datto’s solutions defend against costly downtime and data loss in servers, virtual machines, cloud applications, or anywhere data resides. Since its founding in 2007, Datto has won numerous awards for its product excellence, superior technical support, rapid growth, and for fostering an outstanding workplace. With headquarters in Norwalk, Connecticut, Datto has global offices in Australia, Canada, China, Denmark, Germany, Israel, the Netherlands, Singapore, and the United Kingdom.
Learn more at datto.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect Datto’s current expectations and projections with respect to, among other things, its financial condition, results of operations, plans, objectives, future performance, and business. These statements may be preceded by, followed by or include the words ‘‘anticipate,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘project,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘believe,’’ ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘can have,’’ ‘‘likely’’ and the negatives thereof and other words and terms of similar meaning. Further information on potential factors that could affect our results is included in our Annual Report on Form 10-K.
Forward-looking statements include all statements that are not historical facts. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements.

There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. Datto undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.






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Non-GAAP Financial Measures
In addition to our results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), we believe that the non-GAAP financial measures of Non-GAAP Subscription Cost of Revenue, Non-GAAP Device Cost of Revenue, Non-GAAP Professional Services and Other Cost of Revenue, Non-GAAP Depreciation and Amortization in Cost of Revenue, Non-GAAP Cost of Revenue, Non-GAAP Gross Profit, Non-GAAP Sales and Marketing expense, Non-GAAP Research and Development expense, Non-GAAP General and Administrative expense, Non-GAAP Depreciation and Amortization in Operating Expenses, Non-GAAP Operating Expenses, Non-GAAP Income from Operations, Non-GAAP Net Income and Non-GAAP Net Income Per Share, Adjusted EBITDA, and Free Cash Flow are useful in evaluating our operating performance. Certain of these measures exclude interest and other (income) expense, net, loss on extinguishment of debt, depreciation and amortization, stock-based compensation expense, restructuring expense and transaction related and other expense. In addition, for Non-GAAP Net Income we utilize a non-GAAP tax rate of 25%, which we believe reflects our normalized effective tax rate. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP measures used by other companies.
Reconciliation tables of the most directly comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables at the end of this press release.
Datto is not providing a quantitative reconciliation of forward-looking guidance of Adjusted EBITDA to its most directly comparable GAAP measure because certain items are out of Datto’s control or cannot be reasonably predicted, as the items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. Accordingly, a reconciliation for forward-looking Adjusted EBITDA is not available without unreasonable effort.
For more information about Datto, including supplemental financial information, please visit the investor relations website at investors.datto.com.
 







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DATTO HOLDING CORP.
Condensed Consolidated Statements of Operations
(in thousands, except share and per share amounts)
(unaudited)
 
 Three Months Ended December 31, Year Ended December 31, 
 2021 2020 20212020 
Revenue:
Subscription$153,224 $128,978 $577,321 $485,326  
Device10,180 9,104 37,832 30,202  
Professional services and other850 910 3,504 3,257  
Total revenue164,254 138,992 618,657 518,785  
Cost of revenue:
Subscription24,818 23,677 90,162 84,463 
Device13,863 11,143 47,415 37,607 
Professional services and other1,538 1,845 6,059 6,244 
Depreciation and amortization8,917 6,144 32,712 21,890 
Total cost of revenue49,136 42,809 176,348 150,204 
Gross profit115,118 96,183 442,309 368,581 
Operating expenses:
Sales and marketing40,023 31,962 139,257 115,790 
Research and development31,209 30,932 107,899 78,932 
General and administrative27,570 26,279 106,478 85,668 
Depreciation and amortization6,917 6,623 26,471 27,223 
Total operating expenses105,719 95,796 380,105 307,613 
Income from operations9,399 387 62,204 60,968 
Other expense:
Interest expense22 1,758 455 25,348 
Loss on extinguishment of debt— 8,488 — 8,488 
Other expense (income), net163 (2,026)387 (3,428)
Total other expense185 8,220 842 30,408 
Income (loss) before income taxes9,214 (7,833)61,362 30,560 
Provision for income taxes(3,467)665 (9,928)(8,062)
Net income (loss)$5,747 $(7,168)$51,434 $22,498 
    
Net income per share attributable to common stockholders:
Basic$0.04 $(0.05)$0.32 $0.16 
Diluted$0.03 $(0.05)$0.31 $0.16 
Weighted-average shares used in computing net income per share:
Basic163,210,116 154,968,918 162,048,828 140,404,763 
Diluted166,574,607 154,968,918 165,759,624 142,514,848 
     
 






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DATTO HOLDING CORP.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited) 

 December 31, 
 20212020 
ASSETS
Current assets
Cash and cash equivalents$221,421 $168,877  
Restricted cash1,319 1,536  
Accounts receivable, net12,870 13,946  
Inventory34,901 13,811  
Prepaid expenses and other current assets39,456 28,316  
Total current assets309,967 226,486  
Property and equipment, net106,577 91,876  
Operating lease assets31,003 — 
Goodwill1,141,726 1,120,954  
Intangible assets, net287,605 287,395  
Other assets85,313 66,560  
Total assets$1,962,191 $1,793,271  
   
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable$9,997 $7,574  
Accrued expenses and other current liabilities59,553 39,461  
Deferred revenue20,356 23,763  
Total current liabilities89,906 70,798  
Deferred revenue, noncurrent3,341 3,322  
Deferred income taxes24,955 18,947  
Operating lease liabilities, noncurrent31,332 — 
Other long-term liabilities715 11,736  
Total liabilities150,249 104,803  
Commitments and contingencies
STOCKHOLDERS’ EQUITY
Common stock164 161  
Additional paid-in capital1,829,957 1,755,387 
Treasury stock(3,621)(3,621)
Accumulated deficit(13,792)(65,226)
Accumulated other comprehensive income(766)1,767 
Total stockholders’ equity1,811,942 1,688,468  
Total liabilities and stockholders’ equity$1,962,191 $1,793,271  
 
 








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DATTO HOLDING CORP.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
 
 Year Ended December 31, 
 20212020 
OPERATING ACTIVITIES
Net income$51,434 $22,498 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation32,044 26,434 
Amortization of acquired intangible assets27,139 22,679 
Loss on extinguishment of debt— 8,488 
Amortization of debt issuance costs341 1,428 
Reserve for inventory obsolescence57 1,517 
Non-cash operating lease expense7,292 — 
Stock-based compensation48,909 33,460 
Allowance for expected credit losses367 6,217 
Deferred income taxes4,922 7,770 
Unrealized foreign exchange(1,303)(1,204)
Changes in operating assets and liabilities:
Accounts receivable1,598 769 
Inventory(21,186)(2,826)
Prepaid expenses and other current assets(11,487)(7,498)
Other assets(19,641)(12,952)
Accounts payable, accrued expenses and other8,391 3,073 
Deferred revenue(3,511)(1,155)
Net cash provided by operating activities125,366 108,698 
INVESTING ACTIVITIES
Purchase of property and equipment(47,237)(40,466)
Acquisition of business, net of cash acquired(45,486)(4,371)
Net cash used in investing activities(92,723)(44,837)
FINANCING ACTIVITIES
Proceeds from debt— 32,100 
Repayments of debt and capital leases(101)(594,727)
Debt issuance costs— (1,178)
Proceeds from initial public offering, net of underwriting costs— 641,643 
Capitalized transaction costs(684)(5,256)
Proceeds from stock option exercises22,510 3,150 
Repurchase of common stock and settlement of stock-based payment awards— (53)
Net cash provided by financing activities21,725 75,679 
Effect of exchange rate changes on cash and cash equivalents(2,041)1,807 
Net increase in cash and cash equivalents52,327 141,347 
Cash and cash equivalents and restricted cash, beginning of year170,413 29,066 
Cash and cash equivalents and restricted cash, end of period$222,740 $170,413 
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents$221,421 $168,877  
Restricted cash$1,319 $1,536  
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for income taxes$6,380 $890  
Cash paid for interest$133 $24,037  
NON-CASH INVESTING AND FINANCING ACTIVITIES
Purchase of property and equipment included in accounts payable$— $17  
Unpaid initial public offering costs in total current liabilities$— $684  
 







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DATTO HOLDING CORP.
Non-GAAP Condensed Consolidated Statements of Operations
(in thousands, except share and per share amounts)
(unaudited)
 
 Three Months Ended December 31,Year Ended
December 31,		 
 2021202020212020 
Revenue:
Subscription$153,224 $128,978 $577,321 $485,326  
Device10,180 9,104 37,832 30,202  
Professional services and other850 910 3,504 3,257  
Total revenue164,254 138,992 618,657 518,785  
Cost of revenue:
Subscription23,681 19,703 85,860 79,909  
Device13,820 10,940 47,222 37,404  
Professional services and other1,489 1,427 5,859 5,687  
Depreciation and amortization6,180 4,646 23,261 16,867  
Total cost of revenue45,170 36,716 162,202 139,867  
Gross profit119,084 102,276 456,455 378,918  
Operating expenses:
Sales and marketing37,047 27,151 129,790 107,255  
Research and development25,047 18,457 84,480 64,393  
General and administrative23,367 20,478 89,997 73,649  
Depreciation and amortization2,496 2,173 8,783 9,567  
Total operating expenses87,957 68,259 313,050 254,864  
Income from operations31,127 34,017 143,405 124,054  
Other expense:
Interest expense22 1,758 455 25,348  
Other expense (income), net163 (2,026)387 (3,428) 
Total other expense (income)185 (268)842 21,920  
Income before income taxes30,942 34,285 142,563 102,134  
Provision for income taxes(7,736)(8,571)(35,641)(25,534)
Net income$23,206 $25,714 $106,922 $76,600  
 
Net income per share attributable to common stockholders:
Basic$0.14 $0.17 $0.66 $0.55  
Diluted$0.14 $0.16 $0.65 $0.54  
Weighted-average shares used in computing net income per share:
Basic163,210,116 154,968,918 162,048,828 140,404,763  
Diluted166,574,607 158,856,958 165,759,624 142,514,848  
 












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DATTO HOLDING CORP.
GAAP to Non-GAAP Reconciliations and Calculation of Other Key Metrics
(in thousands, except percentages and share and per share amounts)
(unaudited)
 
 Three Months Ended December 31,Year Ended December 31, 
 2021202020212020 
Non-GAAP Subscription Cost of Revenue   
GAAP subscription cost of revenue$24,818 $23,677 $90,162 $84,463 
Stock-based compensation expense(1,137)(3,974)(4,302)(4,092)
Restructuring expense— — — (462)
Non-GAAP subscription cost of revenue$23,681 $19,703 $85,860 $79,909 
Non-GAAP Device Cost of Revenue
GAAP device cost of revenue$13,863 $11,143 $47,415 $37,607 
Stock-based compensation expense(43)(203)(193)(203)
Non-GAAP device gross cost of revenue$13,820 $10,940 $47,222 $37,404 
Non-GAAP Professional Services and Other Cost of Revenue
GAAP professional services and other cost of revenue$1,538 $1,845 $6,059 $6,244 
Stock-based compensation expense(49)(418)(200)(418)
Restructuring expense— — — (139)
Non-GAAP professional services and other cost of revenue$1,489 $1,427 $5,859 $5,687 
Non-GAAP Depreciation and Amortization in Cost of Revenue
GAAP depreciation and amortization in cost of revenue$8,917 $6,144 $32,712 $21,890 
Amortization of acquired intangible assets(2,737)(1,498)(9,451)(5,023)
Non-GAAP depreciation and amortization in cost of revenue$6,180 $4,646 $23,261 $16,867 
Non-GAAP Cost of Revenue
GAAP cost of revenue$49,136 $42,809 $176,348 $150,204 
Amortization of acquired intangible assets(2,737)(1,498)(9,451)(5,023)
Stock-based compensation expense(1,229)(4,595)(4,695)(4,713)
Restructuring expense— — — (601)
Non-GAAP cost of revenue$45,170 $36,716 $162,202 $139,867 
Non-GAAP Gross Profit
GAAP gross profit$115,118 $96,183 $442,309 $368,581 
Amortization of acquired intangible assets2,737 1,498 9,451 5,023 
Stock-based compensation expense1,229 4,595 4,695 4,713 
Restructuring expense— — — 601 
Non-GAAP gross profit$119,084 $102,276 $456,455 $378,918 
Non-GAAP gross margin72.5 %73.6 %73.8 %73.0 %
 






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DATTO HOLDING CORP.
GAAP to Non-GAAP Reconciliations and Calculation of Other Key Metrics
(in thousands, except percentages and share and per share amounts)
(unaudited)
 Three Months Ended December 31,Year Ended December 31,
 2021202020212020
Non-GAAP Sales and Marketing   
GAAP sales and marketing expense$40,023 $31,962 $139,257 $115,790 
Stock-based compensation expense(2,976)(4,811)(9,467)(6,614)
Restructuring expense— — — (1,921)
Non-GAAP sales and marketing expense$37,047 $27,151 $129,790 $107,255 
Non-GAAP sales and marketing as a % of revenue22.6 %19.5 %21.0 %20.7 %
Non-GAAP Research and Development   
GAAP research and development expense$31,209 $30,932 $107,899 $78,932 
Stock-based compensation expense(6,162)(12,475)(23,419)(13,590)
Restructuring expense— — — (949)
Non-GAAP research and development expense$25,047 $18,457 $84,480 $64,393 
Non-GAAP research and development as a % of revenue15.2 %13.3 %13.7 %12.4 %
Non-GAAP General and Administrative   
GAAP general and administrative expense$27,570 $26,279 $106,478 $85,668 
Stock-based compensation expense(3,187)(5,018)(11,328)(8,543)
Restructuring expense— — — (364)
Transaction related and other expense(1,016)(783)(5,153)(3,112)
Non-GAAP general and administrative expense$23,367 $20,478 $89,997 $73,649 
Non-GAAP general and administrative as a % of revenue14.2 %14.7 %14.5 %14.2 %
Non-GAAP Depreciation and Amortization in Operating Expenses   
GAAP depreciation and amortization in operating expenses$6,917 $6,623 $26,471 $27,223 
Amortization of acquired intangible assets(4,421)(4,450)(17,688)(17,656)
Non-GAAP depreciation and amortization in operating expense$2,496 $2,173 $8,783 $9,567 
Non-GAAP depreciation and amortization in operating expense as a % of revenue1.5 %1.6 %1.4 %1.8 %
Non-GAAP Operating Expenses   
GAAP operating expenses$105,719 $95,796 $380,105 $307,613 
Amortization of acquired intangible assets(4,421)(4,450)(17,688)(17,656)
Stock-based compensation expense(12,325)(22,304)(44,214)(28,747)
Restructuring expense— — — (3,234)
Transaction related and other expense(1,016)(783)(5,153)(3,112)
Non-GAAP operating expenses$87,957 $68,259 $313,050 $254,864 
Non-GAAP operating expenses as a % of revenue53.5 %49.1 %50.6 %49.1 %
Non-GAAP Income From Operations   
GAAP income from operations$9,399 $387 $62,204 $60,968 
Amortization of acquired intangible assets7,158 5,948 27,139 22,679 
Stock-based compensation expense13,554 26,899 48,909 33,460 
Restructuring expense— — — 3,835 
Transaction related and other expense1,016 783 5,153 3,112 
Non-GAAP income from operations$31,127 $34,017 $143,405 $124,054 
Non-GAAP operating margin19.0 %24.5 %23.2 %23.9 %
 








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DATTO HOLDING CORP.
GAAP to Non-GAAP Reconciliations and Calculation of Other Key Metrics
(in thousands, except percentages and share and per share amounts)
(unaudited)
 
 Three Months Ended December 31,Year Ended December 31,
 2021202020212020
Non-GAAP Net Income and Net Income Per Share   
GAAP net income$5,747 $(7,168)$51,434 $22,498 
GAAP provision for income taxes3,467 (665)9,928 8,062 
GAAP income before income taxes9,214 (7,833)61,362 30,560 
Loss on extinguishment of debt— 8,488 — 8,488 
Amortization of acquired intangible assets7,158 5,948 27,139 22,679 
Stock-based compensation expense13,554 26,899 48,909 33,460 
Restructuring expense— — — 3,835 
Transaction related and other expense1,016 783 5,153 3,112 
Non-GAAP provision for income taxes(7,736)(8,571)(35,641)(25,534)
Non-GAAP net income$23,206 $25,714 $106,922 $76,600 
Non-GAAP net income per share attributable to common shareholders:   
Basic$0.14 $0.17 $0.66 $0.55 
Diluted$0.14 $0.16 $0.65 $0.54 
Weighted-Average Shares used in computing Non-GAAP Net Income per Share:   
Non-GAAP weighted-average shares used in computing net income per share, basic163,210,116 154,968,918 162,048,828 140,404,763 
Non-GAAP weighted-average shares used in computing net income per share, diluted166,574,607 158,856,958 165,759,624 142,514,848 
       
Adjusted EBITDA   
GAAP net income$5,747 $(7,168)$51,434 $22,498 
Interest and other expense, net185 (268)842 21,920 
Loss on extinguishment of debt— 8,488 — 8,488 
Depreciation and amortization15,834 12,767 59,183 49,113 
Provision for income tax3,467 (665)9,928 8,062 
Stock-based compensation expense13,554 26,899 48,909 33,460 
Restructuring expense— — — 3,835 
Transaction related and other expense1,016 783 5,153 3,112 
Adjusted EBITDA$39,803 $40,836 $175,449 $150,488 
Adjusted EBITDA margin24.2 %29.4 %28.4 %29.0 %
Free Cash Flow   
GAAP net cash provided by operating activities$26,257 $34,643 $125,366 $108,698 
Less: Purchases of property and equipment(15,067)(11,947)(47,237)(40,466)
Free cash flow$11,190 $22,696 $78,129 $68,232 
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Media Contact:
Shoba V. Lemoine
communications@datto.com
Investor Contact:
Ryan Burkart
ir@datto.com
MSP-F
 







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