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  "presentationDate": "2024-11-01 00:00:00",
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      "text": "Potential Drivers\nFurther macro deterioration\nTighter financing environment\nEconomic tailwinds\nDigitization catalysts",
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      "text": "Note: Non-GAAP operating expenses and operating margin are calculated as operating expenses excluding stock-based compensation, amortization of acquired intangible assets, employer payroll tax related to employee stock transactions, and acquisition-related expenses. See the appendix at the end of this presentation for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures.",
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      "text": "Revenue Growth % YOY\nNon-GAAP Operating Margin\nFree Cash Flow Margin\nGAAP Operating Margin\nShare Count Dilution %\nLow 20's\n500-600 bps expansion per year on average\nSlightly lower expansion than Non-GAAP op margin\nVery low single-digits\nHigh 20's / Low 30's\n~350 bps expansion per year on average\nIn line expansion with Non-GAAP op margin\nHigher expansion than Non-GAAP operating margin\nMid 30's\n100-200 bps expansion per year on average\nSlightly higher expansion than Non-GAAP op margin\nLow single-digits",
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      "text": "How we intend to manage our financials in stronger vs. weaker economic conditions. Framework relevant over next few years.",
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