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  "presentationDate": "2023-10-01 00:00:00",
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      "text": "Raising FY23 Revenue Guidance\n~9.5 - 10.5% Constant Currency Growth¹\n-$85M FX Headwinds\n$80-90M Xiidra 4Q23 Revenue\nRaising FY23 Adj. EBITDA¹ Guidance\n-$55M FX Headwinds\n~$30M Xiidra 4Q23 Adj. EBITDA¹\n~$20M Q3 YTD Lynchburg Disruptions\nAdj. Gross Margin¹\n~60.5% FY23 Adj. Gross Margin¹",
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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 8 and 9 and 27 and 28 for disclosure of historic non-GAAP measures and ratios and their historic comparable GAAP measures and ratios.\n2. Current Guidance - Interest Expense includes interest on the outstanding $2.969B of Term Loans, $1.400B of 8.375% 2028 Senior Secured Notes, $175M of revolving credit facility (as of 11/1/2023) and amortization and write-down of deferred financing costs. It excludes an upfront financing commitment cost of $16 million directly related to the Xiidra acquisition.\n3. The guidance in this presentation is only effective as of the date given, Nov. 1, 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 Nov. 1, 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 $3.90B - $3.95B $3.95B - $4.00B $4.035B - $4.085B\nAdj. EBITDA¹ $700M - $750M $700M - $750M $710M - $760M\nInterest Expense ~$215M ~$225M ~$270M²\nR&D ~8% of revenue ~8% of revenue ~8% of revenue\nAdj. Tax Rate¹ ~6% ~6% ~6%\nAvg. Fully Diluted Share Count ~352M ~352M ~352M\nCapEx ~$200M ~$200M ~$175M\nDepreciation and Stock Based Comp ~$220M4 ~$220M4 ~$220M4",
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