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      "text": "2024 AvidXchange, Inc.: Proprietary & Confidential",
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      "text": "(1) For the three months ended March 31, 2024, this amount includes $1,157 of restructuring costs and $179 of response costs, including professional services and legal\nfees, incurred in connection with the cybersecurity incident that was detected in April 2023.",
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      "text": "Three Months Ended March 31,\nReconciliation of Cost of Revenue and Operating Expenses to Non-GAAP Cost\nof Revenue and Operating Expenses\n(in thousands)\n2024\n2023\nCost of revenues (exclusive of depreciation and amortization expense)\n$ 30,333 $ 29,473\nAdjustment: Stock-based compensation expense\n(1,232)\n(1,064)\nNon-GAAP Cost of revenues (exclusive of depreciation and amortization expe $ 29,101 $ 28,409\nOperating expenses\nSales and marketing\n$ 19,741 $ 20,135\nAdjustment: Stock-based compensation expense\n(1,130)\n(1,196)\nNon-GAAP Sales and marketing\n$ 18,611 $ 18,939\nResearch and development\n$ 25,904 $ 23,122\nAdjustment: Stock-based compensation expense\n(3,762)\n(2,342)\nNon-GAAP Research and development\n$ 22,142 $ 20,780\nGeneral and administrative\n$ 24,260 $ 22,627\nAdjustment: Stock-based compensation expense\n(4,835)\n(4,329)\nAdjustment: Transaction and acquisition-related costs\n7\nAdjustment: Non-recurring items not indicative of ongoing operations (1)\n(1,346)\n(9)\nNon-GAAP General and administrative\n$ 18,079 $ 18,296\nDepreciation and amortization\n$ 9,307 $ 8,586\nAdjustment: Amortization of acquired intangibles\n(3,413)\n(3,623)\nNon-GAAP Depreciation and amortization\n$ 5,894 $ 4,963\nImpairment and write-off of intangible assets\n$ 162 $\nAdjustment: Impairment and write-off of intangible assets\n(162)\nNon-GAAP Impairment and write-off of intangible assets\n$ $ -\nTotal operating expenses\n$ 79,374 $ 74,470\nTotal Non-GAAP operating expenses\n$ 64,726 $ 62,978",
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