EX-99.1 2 fy20q1-earningsreleaseexhi.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1

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Dynatrace Reports First Quarter of Fiscal Year 2020 Financial Results

•
Total Revenue of $122.6 million, a year-over-year increase of 25%
•
Annualized recurring revenue "ARR" of $437.6 million, a year-over-year increase of 43%
•
Subscription and Services revenue of $118.8 million, a year-over-year increase of 36%
•
GAAP EPS of $(0.21) and non-GAAP EPS of $0.04

WALTHAM, Mass, Sept 4, 2019 (Business Wire) - Dynatrace (NYSE: DT), a market-leading software intelligence platform, purpose-built for the enterprise cloud, today released financial results for the first quarter of its fiscal 2020 ended June 30, 2019.
“Dynatrace delivered strong first quarter results, highlighted by 36% year-over-year growth in subscription and services revenue” said John Van Siclen, Chief Executive Officer. “As every company becomes a software company and the adoption of dynamic multi-clouds continues to gain momentum, there is increasing demand from enterprises to use our Dynatrace® platform to build better software faster, optimize clouds more efficiently, and compete more effectively in the digital age. Dynatrace has been an industry leader for over a decade, and the reinvention of our platform and company five years ago to prepare for and benefit from the adoption of the enterprise cloud is delivering tremendous results.”
 
John Van Siclen added, “Dynatrace has a unique combination of meaningful scale, growth and cash flow. The recent completion of our initial public offering further strengthens our balance sheet and provides additional capital to execute our long-term growth initiatives and capture an increasing share of our $18 billion and growing market.”

First Quarter Fiscal 2020 and Other Recent Business Highlights:
Financial Highlights:
•
Total Revenue of $122.6 million, an increase of 25% compared to $98.2 million in Q1 2019
•
Total ARR of $437.6 million, an increase of 43% compared to $306.1 million at the end of Q1 2019
•
Subscription and Services revenue of $118.8 million, an increase of 36% compared to $87.1 million in Q1 2019, and representing 97% of total revenue
•
GAAP Operating loss of $(33.0) million and Non-GAAP Operating Income of $27.1 million
•
GAAP EPS of $(0.21) and non-GAAP EPS of $0.04

Dynatrace® Platform Highlights:
•
Ended the quarter with 1,578 Dynatrace customers, a sequential increase of 214 from the end of Q4 2019
•
Dynatrace Dollar-Based Net Expansion rate greater than 120% for the fifth consecutive quarter
•
Dynatrace ARR represents 75% of total ARR, increasing from 70% of total ARR at the end of Q4 2019

Initial Public Offering:
•
Completed our initial public offering and listed our shares on the New York Stock Exchange on August 1, 2019. Dynatrace sold 40,951,053 shares of its common stock at a price of $16.00 per share, for a total of approximately $622.0 million in gross primary proceeds and $590.3 million of net proceeds.
•
Following the completion of our initial public offering on August 1, 2019, pro forma net debt as of June 30, 2019 was reduced to $355.0 million from $945.3 million. Our pro forma TTM Adjusted EBITDA/Net Debt Leverage Ratio as of June 30, 2019 was 3.3x.

Business Highlights:
•
Named a leader in Gartner's MQ for APM in March 2019, and in The Forrester Wave: Intelligent Application and Service Monitoring report for Q2 2019.
•
Expanded automatic support for dynamic Kubernetes environments through our AI engine, DavisTM, including immediate support for Red Hat OpenShift 4.
•
Extended hybrid support for CICS and IMS mainframe environments as well as a range of associated integration and middleware technologies bringing end-to-end observability from mobile to mainframe.




First Quarter 2020 Financial Highlights
(Unaudited – dollars in thousands, except per share amounts)
 
Three Months Ended June 30,
 
2019
 
2018
Annualized recurring revenue
$
437,622

 
$
306,103

Year-over-Year Increase
43
%
 


 
 
 
 
Revenues:
 
 
 
Total revenue
$
122,550

 
$
98,221

Year-over-Year Increase
25
%
 
 
 
 
 
 
Subscription and services revenue
$
118,766

 
$
87,142

Year-over-Year Increase
36
%
 
 
 
 
 
 
Non-GAAP operating income(*)
$
27,097

 
$
12,439

Non-GAAP operating margin (*)
22
%
 
13
%
 
 
 
 
Non-GAAP net income (*)
$
9,307

 
$
14,343

 
 
 
 
Non-GAAP net income per share
$
0.04

 
$
0.06

 
 
 
 
Shares outstanding used in computing Non-GAAP per share amounts - diluted
238,618,865

 
234,707,802

 
 
 
 
Unlevered Free Cash Flow(*)
$
45,798

 
$
58,744

* 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 Investors section of our website at ir.dynatrace.com.

2



Financial Outlook
Based on information available, as of September 4, 2019, Dynatrace is issuing guidance for the second quarter and full year fiscal 2020 as follows:

Second Quarter of Fiscal Year 2020:
•
Total revenue is expected to be in the range of $123 million to $124 million
•
Non-GAAP operating income is expected to be in the range of $24 million to $25 million
•
Non-GAAP net income is expected to be in the range of $11 million to $12 million
•
Non-GAAP net income per diluted share is expected to be $0.04, based on approximately 270 million diluted weighted-average shares
Full Year Fiscal 2020:
•
Total revenue is expected to be in the range of $521 million to $524 million
•
Total ARR is expected to be in the range of $545 million to $550 million
•
Non-GAAP operating income is expected to be in the range of $112 million to $115 million
•
Non-GAAP net income is expected to be in the range of $56 million to $60 million
•
Non-GAAP net income per diluted share is expected to be in the range of $0.20 to $0.22, based on approximately 278 million diluted weighted-average shares

Reconciliation of non-GAAP operating income, non-GAAP net income and non-GAAP net income per share guidance to the most directly comparable GAAP measures is 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 stock-based compensation expense 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.

These statements are forward-looking and actual results may differ materially. Refer to the section under the heading Forward-Looking Statements below for information on the factors that could cause our actual results to differ materially.

Conference Call and Webcast Information
Dynatrace will host a conference call today, September 4, 2019, to discuss its results at 5:00 p.m. Eastern Time. The call will be accessible by telephone at 866-211-4694 (domestic) or 647-689-6731 (international). The call will also be available live via webcast on the Company’s website at https://ir.dynatrace.com. A telephone replay of the conference call will be available at 800-585-8367 or 416-621-4642 (access code 2779159) until September 18, 2019. A webcast replay will be available at https://ir.dynatrace.com.

The company has used, and intends to continue to use, the investor relations portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD.

3



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.
Adjusted EBITDA is defined as Net Income(loss) adjusted by removing the impact of our capital structure (net interest income or expense from our outstanding debt), asset base (depreciation and amortization), tax consequences, restructuring and other gains and losses, transaction and sponsor related costs, gains and losses on foreign currency and stock-based compensation.
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.
Dynatrace Dollar-Based Net Expansion 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. This calculation excludes the benefit of Dynatrace® ARR resulting from the conversion of Classic products to the Dynatrace® platform, as well as any upsell generated at the time of conversion.
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.
TTM Adjusted EBITDA/Net Debt Leverage Ratio is defined as our Net Debt divided by our trailing twelve month Adjusted EBITDA. Net Debt is defined as total principal less cash and cash equivalents.
Unlevered Free Cash Flow is defined as net cash from (used in) operating activities and adjusted to exclude cash paid for interest (net of tax), non-recurring restructuring and acquisition related costs, along with one-time offerings and filings, less cash used in investing activities for acquisition of property and equipment. However, given our debt obligations, unlevered free cash flow does not represent residual cash flow available for discretionary expenses.
About Dynatrace
Dynatrace provides software intelligence to simplify enterprise cloud complexity and accelerate digital transformation. With AI and complete automation, our all-in-one platform provides answers, not just data, about the performance of applications, the underlying infrastructure and the experience of all users. That’s why many of the world’s largest enterprises trust Dynatrace to modernize and automate enterprise cloud operations, release better software faster, and deliver unrivalled digital experiences. Curious to see how you can simplify your enterprise cloud? Let us show you. Visit our trial page for a free 15-day Dynatrace trial. To learn more about how Dynatrace can help your business, visit https://www.dynatrace.com, visit our blog and follow us on Twitter @dynatrace.
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 statements regarding management’s expectations of 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 2020; and statements regarding the size of our market and our positioning for capturing a larger share of our market. 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 “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

4


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 subscription revenue growth rates in future periods, our ability to service our substantial level of indebtedness, market adoption of software intelligence solutions for application performance monitoring, digital experience monitoring and infrastructure monitoring, continued spending on and demand for software intelligence solutions, our ability to successfully convert and upsell our customers as they convert from our Classic products to the Dynatrace® platform, our ability to maintain and acquire new customers, our ability to differentiate our platform from competing products and technologies; our ability to successfully recruit and retain highly-qualified personnel; the price volatility of our common stock, and other risks set forth under the caption “Risk Factors” in our final prospectus filed on July 31, 2019 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.

5





DYNATRACE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited – dollars in thousands, except per share amounts)
 
Three Months Ended June 30,
 
2019
 
2018
Revenues:
 
 
 
Subscriptions
$
108,128

 
$
77,924

License
3,784

 
11,079

Services
10,638

 
9,218

Total revenue
122,550

 
98,221

 
 
 
 
Cost of revenues:
 
 
 
Cost of subscriptions
16,177

 
13,132

Cost of services
8,809

 
6,895

Amortization of acquired technology
4,557

 
4,664

Total cost of revenues
29,543

 
24,691

Gross profit
93,007

 
73,530

 
 
 
 
Operating expenses:
 
 
 
Research and development
25,659

 
17,896

Sales and marketing
58,215

 
42,509

General and administrative
31,882

 
19,881

Amortization of other intangibles
10,142

 
12,049

Restructuring and other
115

 
410

Total operating expenses
126,013

 
92,745

Loss from operations
(33,006
)
 
(19,215
)
Interest expense, net
(19,186
)
 
(10,687
)
Other, net
94

 
2,863

Loss before income taxes
(52,098
)
 
(27,039
)
Income tax benefit
2,943

 
3,483

Net loss
$
(49,155
)
 
$
(23,556
)
Net loss per share:
 
 
 
Basic and diluted
$
(0.21
)
 
$
(0.10
)
Weighted average shares outstanding:
 
 
 
Basic and diluted
237,693,127

 
233,970,804

UNAUDITED STOCK-BASED COMPENSATION
 
Three Months Ended June 30,
 
2019
 
2018
Cost of revenues
$
3,309

 
$
1,084

Research and development
7,127

 
2,418

Sales and marketing
15,104

 
4,463

General and administrative
15,885

 
5,233

Total share-based compensation expense
$
41,425

 
$
13,198


6

DYNATRACE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
 
June 30, 2019
 
March 31, 2019
 
(unaudited)
 
 
Assets
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
57,453

 
$
51,314

Accounts receivable, net of allowance for doubtful accounts of $3.3 million and $3.4 million as of June 30, 2019 and March 31, 2019, respectively
82,380

 
115,431

Deferred commissions, current
29,367

 
27,705

Prepaid expenses and other current assets
21,055

 
18,768

Total current assets
190,255

 
213,218

Property and equipment, net
20,282

 
17,925

Goodwill
1,270,485

 
1,270,120

Other intangible assets, net
244,398

 
259,123

Deferred tax assets, net
10,781

 
10,678

Deferred commissions, non-current
30,617

 
31,545

Other assets
8,765

 
8,757

Total assets
$
1,775,583

 
$
1,811,366

 
 
 
 
Liabilities and member's deficit
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
4,702

 
$
6,559

Accrued expenses, current
51,748

 
64,920

Current portion of long-term debt
—

 
9,500

Deferred revenue, current
281,977

 
272,772

Payable to related party
600,203

 
597,150

Total current liabilities
938,630

 
950,901

Deferred revenue, non-current
93,596

 
92,973

Accrued expenses, non-current
139,473

 
98,359

Deferred tax liabilities, net
38,721

 
47,598

Long-term debt, net of current portion
1,002,792

 
1,011,793

Total liabilities
2,213,212

 
2,201,624

Commitments and contingencies
 
 
 
Member's deficit:
 
 
 
Common units, no par value, 100 units authorized, issued and outstanding
—

 
—

Additional paid-in capital
(184,599
)
 
(184,546
)
Accumulated deficit
(225,157
)
 
(176,002
)
Accumulated other comprehensive (loss)
(27,873
)
 
(29,710
)
Total member's deficit
(437,629
)
 
(390,258
)
Total liabilities and member's deficit
$
1,775,583

 
$
1,811,366


7

DYNATRACE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited – in thousands)
 
Three Months Ended June 30,
 
2019
 
2018
Cash flows from operating activities:
 
 
 
Net loss
$
(49,155
)
 
$
(23,556
)
Adjustments to reconcile net loss to cash provided by operations:
 
 
 
Depreciation
2,034

 
1,943

Amortization
15,081

 
18,343

Share-based compensation
41,425

 
13,198

Deferred income taxes
(8,877
)
 
(4,353
)
Other
510

 
—

Net change in operating assets and liabilities:
 
 
 
Accounts receivable
34,116

 
47,935

Deferred commissions
(720
)
 
(187
)
Prepaid expenses and other assets
(1,117
)
 
(3,278
)
Accounts payable and accrued expenses
(8,365
)
 
(1,496
)
Deferred revenue
9,235

 
10,011

Net cash provided by operating activities
34,167

 
58,560

 
 
 
 
Cash flows from investing activities:
 
 
 
Purchase of property and equipment
(4,151
)
 
(1,559
)
Capitalized software additions
(333
)
 
(574
)
Net cash used in investing activities
(4,484
)
 
(2,133
)
 
 
 
 
Cash flows from financing activities:
 
 
 
Repayment of term loans
(19,000
)
 
—

Payments to related parties
—

 
(80,386
)
Equity repurchases
(53
)
 
(111
)
Installments related to acquisition
(4,694
)
 
—

Net cash used in financing activities
(23,747
)
 
(80,497
)
 
 
 
 
Effect of exchange rates on cash and cash equivalents
203

 
(1,899
)
 
 
 
 
Net increase (decrease) in cash and cash equivalents
6,139

 
(25,969
)
 
 
 
 
Cash and cash equivalents, beginning of period
51,314

 
77,581

Cash and cash equivalents, end of period
$
57,453

 
$
51,612

 
 
 
 
Supplemental cash flow data:
 
 
 
Cash paid for interest
$
15,738

 
$
—

Cash paid for (received from) tax
$
2,052

 
$
(1,904
)
Non-cash financing activities:
 
 
 
Transactions with related parties
$
—

 
$
(2,927
)


8

DYNATRACE, INC.
GAAP to Non-GAAP Reconciliations
(Unaudited - Dollars in thousands)

 
Three Months Ended June 30, 2019
 
GAAP
 
Share-based compensation
 
Amortization of other intangibles
 
Restructuring & other
 
Non-GAAP
Non-GAAP operating income:
 
 
 
 
 
 
 
 
 
Cost of revenues
$
29,543

 
$
(3,309
)
 
$
(4,557
)
 
$
—

 
$
21,677

Gross profit
93,007

 
3,309

 
4,557

 
—

 
100,873

Gross margin
76
 %
 
 
 
 
 
 
 
82
%
Research and development
25,659

 
(7,127
)
 
—

 
—

 
18,532

Sales and marketing
58,215

 
(15,104
)
 
—

 
—

 
43,111

General and administrative
31,882

 
(15,885
)
 
—

 
(3,864
)
 
12,133

Amortization of other intangibles
10,142

 
—

 
(10,142
)
 
—

 
—

Restructuring and other
115

 
—

 
—

 
(115
)
 
—

Operating income (loss)
(33,006
)
 
41,425

 
14,699

 
3,979

 
27,097

Operating margin
(27
)%
 
 
 
 
 
 
 
22
%

 
Three Months Ended June 30, 2018
 
GAAP
 
Share-based compensation
 
Amortization of other intangibles
 
Restructuring & other
 
Non-GAAP
Non-GAAP operating income:
 
 
 
 
 
 
 
 
 
Cost of revenues
$
24,691

 
$
(1,084
)
 
$
(4,664
)
 
$
—

 
$
18,943

Gross profit
73,530

 
1,084

 
4,664

 
—

 
79,278

Gross margin
75
 %
 
 
 
 
 
 
 
81
%
Research and development
17,896

 
(2,418
)
 
—

 
—

 
15,478

Sales and marketing
42,509

 
(4,463
)
 
—

 
—

 
38,046

General and administrative
19,881

 
(5,233
)
 
—

 
(1,333
)
 
13,315

Amortization of other intangibles
12,049

 
—

 
(12,049
)
 
—

 
—

Restructuring and other
410

 
—

 
—

 
(410
)
 
—

Operating income (loss)
(19,215
)
 
13,198

 
16,713

 
1,743

 
12,439

Operating margin
(20
)%
 
 
 
 
 
 
 
13
%





9

DYNATRACE, INC.
GAAP to Non-GAAP Reconciliations
(Unaudited - Dollars in thousands, except per share amounts)

 
Three Months Ended June 30,
 
2019
 
2018
Non-GAAP net income:
 
 
 
Net loss
$
(49,155
)
 
$
(23,556
)
Tax benefit
(2,943
)
 
(3,483
)
Cash (paid for) received from tax
(2,052
)
 
1,904

Interest expense
19,186

 
10,687

Cash paid for interest
(15,738
)
 
—

Share-based compensation
41,425

 
13,198

Amortization of other intangibles
10,142

 
12,049

Amortization of acquired technology
4,557

 
4,664

Transaction and sponsor related costs
3,864

 
1,333

Restructuring and other
115

 
410

(Gain) on currency translation
$
(94
)
 
$
(2,863
)
Non-GAAP net income
$
9,307

 
$
14,343

 
 
 
 
Share count:
 
 
 
Weighted-average shares outstanding - basic
237,693,127

 
233,970,804

Weighted-average shares outstanding - diluted
237,693,127

 
233,970,804

 
 
 
 
Shares used in non-GAAP per share calculations:
 
 
 
Weighted-average shares outstanding - basic
237,693,127

 
233,970,804

Weighted-average shares outstanding - diluted
238,618,865

 
234,707,802

 
 
 
 
Net income (loss) per share:
 
 
 
Net loss per share - basic
$
(0.21
)
 
$
(0.10
)
Net loss per share - diluted
$
(0.21
)
 
$
(0.10
)
Non-GAAP net income per share - basic
$
0.04

 
$
0.06

Non-GAAP net income per share - diluted
$
0.04

 
$
0.06




10

DYNATRACE, INC.
GAAP to Non-GAAP Reconciliations
(Unaudited - Dollars in thousands)

 
Three Months Ended June 30,
 
2019
 
2018
Adjusted EBITDA:
 
 
 
Net loss
$
(49,155
)
 
$
(23,556
)
Income tax benefit
(2,943
)
 
(3,483
)
Interest expense, net
19,186

 
10,687

Amortization
15,081

 
18,343

Depreciation
2,034

 
1,943

Restructuring and other
115

 
410

Transaction and sponsor related costs
3,864

 
1,333

(Gain) on currency translation
(94
)
 
(2,863
)
Share-based compensation
41,425

 
13,198

Adjusted EBITDA
$
29,513

 
$
16,012


 
Three Months Ended June 30,
 
2019
 
2018
Unlevered Free Cash Flow ("uFCF") (After tax adjustment):
 
 
 
Net cash provided by operating activities
$
34,167

 
$
58,560

Cash paid for interest expense
15,738

 
—

Restructuring and other
115

 
410

Property, plant, and equipment
(4,151
)
 
(1,559
)
Transaction and sponsor related costs
3,864

 
1,333

Total uFCF
49,733

 
58,744

Interest tax adjustment
(3,935
)
 
—

uFCF (After tax adjustment)
$
45,798

 
$
58,744




11

DYNATRACE, INC.
GAAP to Non-GAAP Reconciliations
(Unaudited - Dollars in thousands)

 
Three Months Ended June 30,
 
Trailing
Twelve Months Ended
 June 30, 2019
 
2019
 
2018
 
Adjusted EBITDA:
 
 
 
 
 
Net loss
(49,155
)
 
(23,556
)
 
$
(141,793
)
Income tax benefit
(2,943
)
 
(3,483
)
 
(23,177
)
Interest expense, net
19,186

 
10,687

 
78,344

Amortization
15,081

 
18,343

 
69,530

Depreciation
2,034

 
1,943

 
7,410

Restructuring and other
115

 
410

 
1,468

Transaction and sponsor related costs
3,864

 
1,333

 
15,074

(Gain) loss on currency translation
(94
)
 
(2,863
)
 
128

Share-based compensation
41,425

 
13,198

 
99,378

Adjusted EBITDA
29,513

 
16,012

 
$
106,362


 
Pro Forma
June 30, 2019
Adjusted EBITDA/Net Debt Leverage Ratio:
 
Long-term debt
$
1,002,792

Cash
57,453

Net debt
945,339

Net IPO proceeds
590,297

Pro forma net debt
355,042

 
 
TTM Adjusted EBITDA
$
106,362

Leverage Ratio
3.3
x


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Contacts

Marc P. Griffin
646-277-1290
Marc.Griffin@ICRinc.com

Michael Bowen
203-682-8299
Michael.Bowen@ICRinc.com

Media Relations
Jack Murphy
646-677-1834
Jack.Murphy@ICRinc.com

Mike Maciag
Dynatrace
Mike.Maciag@dynatrace.com
650-279-3655

Source: Dynatrace Investor Relations


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