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      "text": "Adj. Gross Margin¹: Adj. gross margin¹ for FY23 expected to be ~60%",
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      "text": "Raising FY23 Revenue Guidance: ~6.5-7.5% constant currency growth¹ expected for FY23, FY23 FX headwinds expected to be ~$50M",
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      "text": "Maintaining Adj. EBITDA¹ Guidance: FY23 FX headwinds expected to be ~$35M",
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      "text": "1. This is a non-GAAP measure or ratio. See Slide 1 and Appendix for further information on non-GAAP measures or ratios. See slides 9 and 10 and 28 and 29 for disclosure of historic non-GAAP measures and ratios and their historic comparable GAAP measures and ratios.\n2. Interest expense includes interest on the outstanding $2.475B of Term Loan and $250M of revolving credit facility (as of 8/2/2023) and amortization and write-down of deferred financing costs. Does not include impact of Xiidra financing.\n3. The guidance in this presentation is only effective as of the date given, Aug 2, 2023, and will not be updated or affirmed unless and until the Company publicly announces updated or affirmed guidance. Distribution or reference of this deck following Aug. 2, 2023 does not constitute the Company re-affirming guidance. See Slide 1 for further information on forward-looking statements.\n4. Does not include the potential expense acceleration of certain grants upon final separation.",
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      "text": "Total Revenue: Prior Guidance (May 2023) $3.90B - $3.95B, Current Guidance (Aug. 2023) $3.95B - $4.00B; Adj. EBITDA (non-GAAP)¹: Prior Guidance (May 2023) $700M - $750M, Current Guidance (Aug. 2023) $700M - $750M; Interest Expense²: Prior Guidance (May 2023) ~$215M, Current Guidance (Aug. 2023) ~$225M; R&D: Prior Guidance (May 2023) ~8% of revenue, Current Guidance (Aug. 2023) ~8% of revenue; Adj. Tax Rate (non-GAAP)¹: Prior Guidance (May 2023) ~6%, Current Guidance (Aug. 2023) ~6%; Avg. Fully Diluted Share Count: Prior Guidance (May 2023) ~352M, Current Guidance (Aug. 2023) ~352M; CapEx: Prior Guidance (May 2023) ~$200M, Current Guidance (Aug. 2023) ~$200M; Depreciation and Stock Based Comp: Prior Guidance (May 2023) ~$220M⁴, Current Guidance (Aug. 2023) ~$220M⁴",
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