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      "text": "Subscription Gross Margin (Non-GAAP) FY'21: 76.5%, FY'22: 77.1%, Q1'22: 75.5%, Q1'23: 77.5%",
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      "text": "Total Gross Margin (Non-GAAP) FY'21: 69.5%, FY'22: 71.2%, Q1'22: 69.7%, Q1'23: 72.2%",
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      "text": "Improving Cloud hosting costs due to scale and optimization",
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      "text": "Healthy margins for Confluent Platform Revenue",
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      "text": "Note: We define non-GAAP gross margin and non-GAAP subscription gross margin as GAAP gross margin and GAAP subscription gross margin, respectively, excluding stock-based compensation expense, employer taxes on employee stock transactions, and amortization of acquired intangibles. Refer to the slides in the section titled \"GAAP to Non-GAAP Reconciliations\" at the end of this presentation for a reconciliation of our non-GAAP financial metrics to the most directly comparable GAAP financial metrics.",
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      "text": "Gross Margin Healthy as Revenue Mix Shifts",
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