BMS 2023年第一季度报告-Bristol Myers Squibb Reports First Quarter Financial Results for 2023

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BristolMyersSquibbReportsFirstQuarterFinancialResultsfor2023

•ReportsFirstQuarterRevenuesof$11.3Billion

•PostsFirstQuarterGAAPEarningsPerShareof$1.07andNon-GAAPEPSof$2.05;IncludesNetImpactof($0.01)PerShareforGAAPandNon-GAAPEPSDuetoAcquiredIPRDChargesandLicensingIncome

•DeliversStrongRevenueGrowthof8%fromIn-LineProductsandNewProductPortfolio;or10%WhenAdjustedforForeignExchange

•FurtherAdvancesPortfolioRenewalStrategy,AchievingImportantMilestonesAcrossTherapeuticAreas

•AdjustsGAAP2023EPSGuidance;AffirmsNon-GAAPFinancialGuidancefor2023

(NEWYORK,April27,2023)–

Bristol

Myers

Squibb

(NYSE:BMY)todayreportsresultsforthefirst

quarterof2023,whichreflectrobustin-lineandnewproductportfoliogrowth,strongcommercialexecutionandcontinuedadvancementoftheproductpipeline.

“Ourstrongexecutionresultedindouble-digitrevenuegrowthforourin-lineproductsandnew

productportfolio,”said

GiovanniCaforio,M.D.,

boardchairandchiefexecutiveofficer,BristolMyers

Squibb.“Wecontinuetosuccessfullyexecuteagainstourkeystrategicprioritiesandmeaningfullyadvanceourportfoliorenewalstrategy,achievingimportantregulatoryandclinicalmilestonesthatwillbenefitpatientswithseriousunmetneeds.Weremainfocusedoncommercialexecution,progressingourpipelineandleveragingourstrongfinancialfoundationtoinvestinthenextwaveofinnovationanddelivervaluetoallofourstakeholders.”

FirstQuarter

$amountsinmillions,exceptpershareamounts

TotalRevenues Earningspershare-GAAP*Earningspershare-Non-GAAP*

Change

2023

$11,337

1.072.05

2022

$11,648

0.591.96

ChangeExcl.F/X**

(3)%81%5%

(1)%N/AN/A

*GAAPandnon-GAAPearningspershareincludethenetimpactofAcquiredIPRDchargesandlicensingincomeof($0.01)in

2023comparedto($0.10)persharein2022.

**See"UseofNon-GAAPFinancialInformation".

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FIRSTQUARTERFINANCIALRESULTS

Allcomparisonsaremadeversusthesameperiodin2022unlessotherwisestated.

•BristolMyersSquibbpostedfirstquarterrevenuesof$11.3billion,adecreaseof3%,duetoRevlimidgenericerosionandforeignexchangeimpacts,partiallyoffsetbyin-lineproducts(primarilyOpdivoandEliquis)andournewproductportfolio(primarilyOpdualag,AbecmaandReblozyl).Whenadjustedforforeignexchange,revenuesdecreased1%.Ourrevenuesforin-lineproductsandnewproductportfolioincreased8%to$9.3billion,or10%whenadjustedforforeignexchangeimpacts.

•U.S.revenuesincreased4%to$8.0billioninthequarterprimarilyduetoEliquis,Opdivoandournewproductportfolio,partiallyoffsetbyRevlimidgenericerosion.Internationalrevenuesdecreased16%to$3.3billioninthequarter.Whenadjustedforforeignexchangeimpacts,internationalrevenuesdecreased11%,primarilyduetoRevlimidandEliquisgenericerosion,partiallyoffsetbyOpdivoandournewproductportfolio.

•OnaGAAPbasis,grossmargindecreasedfrom78.8%to77.4%andonanon-GAAPbasis,decreasedfrom79.2%to77.8%primarilyduetoproductmix,partiallyoffsetbyforeignexchangeimpactsandrelatedhedgingsettlements.

•OnaGAAPandnon-GAAPbasis,marketing,sellingandadministrativeexpensesdecreased4%to$1.8billioninthequarter,primarilyduetodifferencesoftimingofspendcomparedtotheprioryearandforeignexchangeimpacts,partiallyoffsetbyhighercoststosupportnewproductlaunches.

•OnaGAAPandnon-GAAPbasis,researchanddevelopmentexpensesincreased3%inthequarter,primarilyduetohighercoststosupporttheoverallportfolio.

•OnaGAAPandnon-GAAPbasis,AcquiredIPRDdecreasedto$75millioninthecurrentquarterfrom$333millioninthesameperiodayearago.OnaGAAPandnon-GAAPbasis,licensingincomedecreasedto$43millioninthecurrentquarterfrom$52millioninthesameperiodayearago.

•OnaGAAPbasis,amortizationofacquiredintangibleassetsdecreased7%to$2.3billioninthequarter,primarilyduetotheAbraxanemarketedproductrightbeingfullyamortizedinthefourthquarterof2022.

•OnaGAAPbasis,effectivetaxratechangedfrom23.9%to18.2%inthequarterprimarilyduetojurisdictionalearningsmixresultingfromspecifieditemsandthereleaseofincometaxreservesinthefirstquarterof2023,partiallyoffsetbychangestoourPuertoRicotaxdecree.Onanon-

3

GAAPbasis,effectivetaxratechangedfrom15.9%to15.5%,duetotheaforementionedtaxreservereleasesandchangestoourPuertoRicotaxdecree.

•ThecompanyreportednetearningsattributabletoBristolMyersSquibbof$2.3billion,orGAAPEPSof$1.07,inthefirstquarter,comparedto$1.3billion,or$0.59pershare,forthesameperiodayearago.Inadditiontotheitemsdiscussedabove,thehigherGAAPEPSinthefirstquarterof2023wasduetolowerequityinvestmentslosses,higherlitigationandothersettlementsincomeinthefirstquarterof2023andadebtredemptionchargeinthesameperiodayearago.

•Thecompanyreportednon-GAAPnetearningsattributabletoBristolMyersSquibbof$4.3billion,ornon-GAAPEPSof$2.05,inthefirstquarter,comparedtonon-GAAPnetearningsof$4.2billion,ornon-GAAPEPSof$1.96pershare,forthesameperiodayearago.

•Inadditiontotheitemsdiscussedabove,theearningspershareresultsinthefirstquarterof2023includetheimpactoflowerweighted-averagecommonsharesoutstanding.

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FIRSTQUARTERPRODUCTREVENUEHIGHLIGHTS

QuarterEndedMarch31,2023

($amountsinmillions)

U.S.(c)Int'lWW(d)

%ChangefromQuarterEndedMarch31,2022

%Changefrom

QuarterEnded

March31,2022

(Excl.F/X)**

U.S.(c)Int'lWW(d)

Int'lWW(d)

In-LineProducts

Eliquis

Opdivo

Pomalyst/Imnovid

Orencia

Sprycel

Yervoy

Me?uJ?enpo?V?JdJopuD?s)e(

SZ‘SSFL‘Z60 SFS S9Z Z6S tLFL8Z

S896

6LZZ8LZ0ZLtFL6FZ8S

St‘FZtZ‘Z0Z 8tZ L9F FZ6 S08F9L

L6%

LL%

)Z(%

)S(%

)t(%

L%

L%

)L8(%

LL%

L%

L%

)ZS(%

)S(%

)Z0(%

L%LS% L% )F(%)LL(% )L(%)Lt(%

)Lt(%

L8%

LZ%

L0%

)L6(%

t%

)L9(%

8%LL% Z% )L(% )6(% Z%)L0(%

TotalIn-LineProductsS‘LFZZ‘88t8‘9ZS

F%

LL%

)L(%

L8%***

FL%tZ%Lt%N/AN/A

**

N/A

Lt%**

*N/AN/A

tZ%***

9L%F8%t6%N/AN/A

)L(%

9%

**

N/A

80%**

*N/AN/A

tt%***

99%SZ%t6%N/AN/A

NewProductPortfolio

Reblozyl

Abecma

Opdualag

Zeposia

Breyanzi

Onureg

Inrebic

Camzyos

Sotyktu

LS8LL8LL9SZS8ZS LLZ6LS

F8Z6 LZ9Lt68

—

L

Z09LFLLLLL8LL tFZSZ6L9

TotalNewProductPortfolioS88LtSLZt

**

*

**

TotalIn-LineandNewProduct

Portfolio9‘tt0t‘0L86‘tF8

LS%

)F(%

8%

)ZF(%)9(%

)LZ(%88%

)tL(%LZ%

L0%

Z%

)LL(%*

)tL(%LF%

RecentLOEProducts(b)

Revlimid

Abraxane

L‘SFLL9Z

Z06LL

L‘LS0Zt6

TotalRecentLOEProductsL‘L0tZ89L‘686

)Zt(%)9F(%)tF(%

)9Z(%)tt(%

TotalRevenues

S8‘0ttSt‘t0FSLL‘ttL

F%)L9(%

)t(%

)LL(%)L(%

*ln?xD?sso}+L00%

**S??"Us?o}Non-9AAd」inenDie)ln}oJme?ion".

)e(lnD)up?sov?J-?V?-Doun??J)OTD(dJopuD?s‘Jo人e)?人J?v?nu?enpme?uJ?dJopuD?s.

)q(N?D?n?1O3dJopuD?sinD)up?sdJopuD?swi?Vsi6ni}iDen??xd?D??pp?D)in?inJ?v?nu?}JomedJioJJ?doJ?in6d?JiopeseJ?su)?o}e)osso}

?xD)usivi?人.

)D(lnD)up?sdu?J?oNiDo.

)p(WoJ)pwip?)WW(inD)up?sln??Jne?ione))ln?')(enpU.S.

FIRSTQUARTERPRODUCTREVENUEHIGHLIGHTS

In-LineProducts

N?v?nu?s}oJin-)in?dJopuD?sin?V?}iJs?bueJ??Jw?J?S8.9qi))ionDomdeJ?p?oS8.tqi))ionin?V?dJioJ人?eJd?Jiop‘J?dJ?s?n?in6eninDJ?es?o}F%oJ9%wV?nep车us??p}oJ}oJ?i6n?xDVen6?.ln-)in?dJopuD?sJ?v?nu?wes)eJ6?)人pJiv?nq人:

•OpdivowoJ)pwip?J?v?nu?sinDJ?es?pLS%DomdeJ?p?o?V?dJioJ人?eJd?Jiop.U.S.J?v?nu?sw?J?SL.tqi))ionDomdeJ?p?oSL.Lqi))ionin?V?dJioJ人?eJd?Jiop‘J?dJ?s?n?in6eninDJ?es?

5

of17%duetohigherdemandacrossmultipleindications,partiallyoffsetbydecliningsecond-lineeligibilityacrosstumorindications.Thehigherdemandwasrelatedtothefollowingindications:theOpdivo+Yervoycombinationsfornon-smallcelllungcancer,variousgastric,esophagealandbladdercancers.Internationalrevenueswere$912millioncomparedto$824millionintheprioryearperiod,representinganincreaseof11%drivenbyhigherdemandasaresultofadditionalindicationlaunchesandcoreindications,partiallyoffsetbyforeignexchangeimpactsof7%.Excludingforeignexchangeimpacts,revenuesincreased18%.

•Eliquisworldwiderevenuesgrew7%comparedtotheprioryearperiod.U.S.revenueswere$2.6billioncomparedto$2.1billionintheprioryearperiod,representinganincreaseof19%primarilydrivenbyhigherdemand.Internationalrevenueswere$869millioncomparedto$1.1billionintheprioryearperiod,representingadecreaseof18%,primarilydrivenbygenericerosioninCanadaandtheU.K.andforeignexchangeimpactsof5%.Excludingforeignexchangeimpacts,revenuesdeclined13%.

NewProductPortfolio

•Newproductportfolioworldwiderevenuesgrewto$723millioncomparedto$350millionintheprioryearperiod,drivenbythelaunchofOpdualaginMarch2022andhigherdemandforAbecmaandReblozyl.

RecentLOEProducts

•Revlimidworldwiderevenuesdeclinedby37%comparedtotheprioryearperiodprimarilydrivenbygenericerosion.

PRODUCTANDPIPELINEUPDATE

Cardiovascular

Category

Asset

Milestone

Regulatory

Camzyos®

(mavacamten)

TheCommitteeforMedicinalProductsforHumanUse(CHMP)oftheEuropeanMedicinesAgency(EMA)hasrecommended

approval

ofCamzyosforthetreatmentofsymptomaticNewYorkHeartAssociationclassII-IIIobstructivehypertrophiccardiomyopathy(HCM)inadultpatients.TheEuropeanCommission(EC),whichhastheauthoritytoapprovemedicinesfortheEuropeanUnion(EU),willnowreviewtheCHMPopinion.ThepositiveopinionisbaseduponefficacyandsafetyresultsfromtwoPhase3trials,EXPLORER-HCMandVALOR-HCM.

6

Clinical&

Research

milvexian

Thecompany,incollaborationwithJanssenPharmaceuticals,Inc.,oneoftheJanssenPharmaceuticalCompaniesofJohnson&Johnson,launchedthe

Phase3Librexiaprogram

studyingmilvexian,aninvestigationaloralfactorXIainhibitor(antithrombotic).TheLibrexiaprogramwillprovideimportantdataacrossthreeindication-seekingstudies:LibrexiaSTROKEforantiplatelettherapyforstrokepreventioninacuteischemicstrokeorhigh-risktransientischemicstroke,LibrexiaACSinadditiontoantiplatelettherapyforeventreductioninacutecoronarysyndromesandLibrexiaAFwhichcomparesmilvexiantoapixabaninthepreventionofstrokeinpatientswithatrialfibrillation.

Oncology

Category

Asset

Milestone

Regulatory

Opdivo®

(nivolumab)

TheU.S.FoodandDrugAdministration(FDA)

accepted

thesupplementalBiologicsLicenseApplication(sBLA)forOpdivoasamonotherapyintheadjuvantsettingforthetreatmentofpatientswithcompletelyresectedstageIIBorIICmelanoma.TheFDAhasassignedaPrescriptionDrugUserFeeAct(PDUFA)dateofOctober13,2023.

Inaddition,theEMA

validated

theTypeIIVariationMarketingAuthorizationApplicationforOpdivoasamonotherapyintheadjuvantsettingforthetreatmentofpatientswithcompletelyresectedstageIIBorIICmelanoma.TheEMA’svalidationconfirmsthesubmissioniscompleteandbeginsthestartoftheEMA’scentralizedreviewprocess.

ThesubmissionswerebasedonresultsfromthePhase3CheckMate-76Kclinicaltrial.

Clinical&

Research

Opdivo

Three-yearfollow-upresultsfrom

Phase3CheckMate-816trial

demonstratedsustainedclinicalbenefitswiththreecyclesofOpdivoincombinationwithplatinum-basedchemotherapyfortheneoadjuvanttreatmentofpatientswithresectableNSCLC.Whileoverallsurvival(OS)remainedimmatureatthisanalysis,therewasacontinuedencouragingtrendinOSfavoringneoadjuvantOpdivowithchemotherapyoverchemotherapyalone.

Three-yearfollow-upresultsfrom

Phase3CheckMate-274trial

demonstratedsignificantsustainedclinicalbenefitswithOpdivofortheadjuvanttreatmentofpatientswithsurgicallyresected,high-riskmuscle-invasiveurothelialcarcinoma.

Three-yearfollow-upresultsfrom

Phase3CheckMate-9ERtrial

demonstratedsustainedsurvivalandresponseratebenefitswiththecombinationofOpdivoand

ExelixisInc.’s

CABOMETYX(cabozantinib)versussunitinibinthefirst-linetreatmentofadvancedrenalcellcarcinoma.

7

Hematology

Category

Asset

Milestone

Regulatory

Abecma®

(idecabtagene

vicleucel)

TheFDAhas

accepted

thecompany'sand

2seventybio's

(NASDAQ:TSVT)sBLAforAbecmaforthetreatmentofadultswithrelapsedorrefractorymultiplemyelomawhohavereceivedanimmunomodulatoryagent,aproteasomeinhibitor,andananti-CD38monoclonalantibody.TheFDAhasassignedaPDUFAgoaldateofDecember16,2023.

TheEMAalsovalidatedthetypeIIvariationfortheextensionofindicationforAbecmatotreatadultswithrelapsedorrefractorymultiplemyelomawhohavereceivedanimmunomodulatoryagent,aproteasomeinhibitor,andananti-CD38monoclonalantibody.ValidationoftheapplicationconfirmsthesubmissioniscompleteandbeginstheEMA’scentralizedreviewprocess.

Inaddition,Japan'sMinistryofHealth,LabourandWelfarehasacceptedBristolMyersSquibb’ssupplementalnewdrugapplicationforAbecmainpatientswhohavereceivedatleasttwopriortherapies,includinganimmunomodulatoryagent,aproteasomeinhibitor,andananti-CD38monoclonalantibody,andhaveexperienceddiseaseprogressionorrelapseafterthelasttherapy.

ThethreeregulatoryapplicationswerebasedonresultsfromthepivotalPhase3,open-label,global,randomized,controlledKarMMa-3clinicaltrial.

Breyanzi®

(lisocabtagenemaraleucel)

TheCHMPoftheEMAhasrecommended

approval

ofBreyanziforthetreatmentofadultpatientswithdiffuselargeB-celllymphoma,highgradeB-celllymphoma,primarymediastinallargeB-celllymphoma,highgradeB-celllymphoma,primarymediastinallargeB-celllymphomaandfollicularlymphomagrade3B,whorelapsedwithin12monthsfromcompletionof,orarerefractoryto,first-linechemoimmunotherapy.ThepositiveopinionwasbasedonresultsfromthepivotalPhase3TRANSFORMclinicaltrial.

Reblozyl®

(luspatercept-

aamt)

TheEC

granted

fullMarketingAuthorizationforReblozylfortreatmentinadultpatientsofanemiaassociatedwithnon-transfusion-dependentbetathalassemia.ThedecisionwasbasedonresultsfromthePhase2BEYONDtrial.ReblozylisbeingdevelopedandcommercializedthroughaglobalcollaborationwithMerckfollowingMerck’sacquisitionofAcceleronPharma,Inc.inNovember2021.

Clinical&

Research

Abecma

Positiveresultsfrom

Phase3KarMMa-3Study

showedAbecmareducedtheriskofdiseaseprogressionordeathby51%versusstandardregimensinearlierlinesoftherapyforrelapsedandrefractorymultiplemyeloma.

8

Immunology

Category

Asset

Milestone

Regulatory

SotyktuTM

(deucrava-

citinib)

TheEC

approved

Sotyktu,afirst-in-class,oral,selectivetyrosinekinase2inhibitor,forthetreatmentofadultswithmoderate-to-severeplaquepsoriasiswhoarecandidatesforsystemictherapy,representinganewwayoftreatingthischronicimmune-mediateddisease.TheapprovalwasbasedonresultsfromthePhase3POETYKPSO-1andPOETYKPSO-2clinicaltrials.AdditionaldatafromthePOETYKPSOlong-termextensiontrial(LTE)alsosupportedapproval.

BusinessDevelopment

•InApril,thecompany

announced

anagreementforavectorfacilitytofurtherstrengthenitscelltherapysupplychainandexpandmanufacturingcapacity.ThiswillallowBristolMyersSquibbto

dual-sourcevectorsupplyandtransitiontonewer,higherefficiencymanufacturingprocesses.Thetransactionisexpectedtocloseinthesecondhalfof2023,subjecttothefulfillmentofapplicableclosingconditions.

Environmental,Social&Governance(ESG)

•OnMarch15,2023,thecompany

announced

meaningfulprogresstowarditsglobalinclusion&diversitygoalsandhealthequitycommitments,detailingthatthecompanyisontrackto

achievemanyofourgoalsandexceedingsomegoalsaheadofschedule.Inaddition,thecompanyintroducednewworkforcerepresentationgoalsforExecutiveDirectorsandabovetostrengthenourinternalpipelineoftalentandnextgenerationofleadersatBristolMyersSquibb.

Asaleadingbiopharmaceuticalcompany,weunderstandourresponsibilityextendswellbeyondthediscovery,development,anddeliveryofinnovativemedicines.OurevolvingEnvironmental,Social,and

Governance(ESG)strategybuildsonalegacyofcomprehensiveandglobalsustainabilityefforts.To

learnmoreaboutourprioritiesandgoals,pleasevisitourlatest

ESGreport

.

FinancialGuidance

BristolMyersSquibbisadjustingits2023GAAPline-itemguidanceasfollows:

AdjustingGAAPEPSguidanceprimarilyduetochangesinothersettlementincomeandinthefairmarketvalueofequityinvestmentswhileaffirmingnon-GAAPEPSguidance.

9

Key2023GAAPandnon-GAAPline-itemguidanceassumptionsare:

U.S.GAAP

Non-GAAP2

February

(Prior)

April

(Revised)

February

(Prior)

April

(Affirmed)

TotalRevenues

(asreported)

~2%increase

Nochange

~2%increase

Nochange

TotalRevenues

(excl.F/X)

~2%increase

Nochange

~2%increase

Nochange

Revlimid

~$6.5billion

Nochange

~$6.5billion

Nochange

GrossMargin%

~77%

Nochange

~77%

Nochange

Operating

Expenses1

Midsingle-digit

decline

Nochange

Lowsingle-digit

decline

Nochange

TaxRate

~22%

~21%

~17%

Nochange

DilutedEPS

$4.03-$4.33

$4.10-$4.40

$7.95-$8.25

Nochange

1OperatingExpenses=MS&AandR&D,excludingAcquiredIPRDandAmortizationofacquiredintangibleassets.

2See"UseofNon-GAAPFinancialInformation.”

The2023financialguidanceexcludestheimpactofanypotentialfuturestrategicacquisitionsanddivestitures,andanyspecifieditemsthathavenotyetbeenidentifiedandquantifiedandimpactoffutureAcquiredIPRDcharges.TotheextentwehavequantifiedtheimpactofsignificantR&Dchargesorotherincomeresultingfromupfrontorcontingentmilestonepaymentsinconnectionwithasset

acquisitionsorlicensingofthird-partyintellectualpropertyrights,wemayupdatethisinformation

fromtimetotimeonourwebsite

,inthe"Investors"section.GAAPandnon-GAAP

guidanceassumecurrentexchangerates.The2023non-GAAPEPSguidanceisfurtherexplainedunder“UseofNon-GAAPFinancialInformation.”Thefinancialguidanceissubjecttorisksanduncertaintiesapplicabletoallforward-lookingstatementsasdescribedelsewhereinthispressrelease.

ConferenceCallInformation

BristolMyersSquibbwillhostaconferencecalltoday,Thursday,April27,2023,at8:00a.m.ETduringwhichcompanyexecutiveswillreviewthequarterlyfinancialresultsandaddressinquiriesfrom

investorsandanalysts.Investorsandthegeneralpublicareinvitedtolistentoalivewebcastofthecall

at

.

InvestorsandthepubliccanalsoaccesstheliveconferencecallbydialingintheU.S.tollfree

888-300-3045orinternational+1646-568-1027,confirmationcode:3734085.Materialsrelatedtothecall

willbeavailableat

priortothestartoftheconferencecall.

Areplayofthewebcastwillbeavailableat

approximatelythreehoursafter

10

theconferencecallconcludes.Areplayoftheconferencecallwillbeavailablebeginningat11:30a.m.ETonApril27through11:30a.m.ETonMay11,2023,bydialingintheU.S.tollfree800-770-2030orinternational+1647-362-9199,confirmationcode:3734085.

AboutBristolMyersSquibb

BristolMyersSquibbisaglobalbiopharmaceuticalcompanywhosemissionistodiscover,develop

anddeliverinnovativemedicinesthathelppatientsprevailoverseriousdiseases.Formoreinformation

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UseofNon-GAAPFinancialInformation

Indiscussingfinancialresultsandguidance,thecompanyreferstofinancialmeasuresthatarenotinaccordancewithU.S.GenerallyAcceptedAccountingPrinciples(GAAP).Thenon-GAAPfinancialmeasuresareprovidedassupplementalinformationtothefinancialmeasurespresentedinthispressreleasethatarecalculatedandpresentedinaccordancewithGAAPandarepresentedbecausemanagementhasevaluatedthecompany’sfinancialresultsbothincludingandexcludingtheadjusteditemsortheeffectsofforeigncurrencytranslation,asapplicable,andbelievesthatthenon-GAAPfinancialmeasurespresentedportraytheresultsofthecompany'sbaselineperformance,supplementorenhancemanagement,analystsandinvestorsoverallunderstandingofthecompany’sunderlyingfinancialperformanceandtrendsandfacilitatecomparisonsamongcurrent,pastandfutureperiods.Inaddition,non-GAAPgrossmargin,whichisgrossprofitexcludingcertainspecifieditems,asapercentageofrevenues,non-GAAPoperatingmargin,whichisgrossprofitlessmarketing,sellingandadministrativeexpensesandresearchanddevelopmentexpenseexcludingcertainspecifieditemsasapercentageofrevenues,non-GAAPoperatingexpenses,whichismarketing,sellingandadministrativeandresearchanddevelopmentexpensesexcludingcertainspecifieditems,non-GAAPmarketing,sellingandadministrativeexpenses,whichismarketing,sellingandadministrativeexpenseexcludingcertainspecifieditems,andnon-GAAPresearchandde