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  "presentationDate": "2024-11-01 00:00:00",
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      "text": "*2020-2023 are as of 12/31. 2024E projected as of 12/31/24. All metrics calculated as a percentage of revenue",
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      "text": "Gross Margin: 76% (FY20), 78% (FY21), 81% (FY22), 83% (FY23), 83% (FY24E), 85% (Target Model)\nSales & Marketing: 44% (FY20), 43% (FY21), 49% (FY22), 40% (FY23), 36% (FY24E), 35% (Target Model)\nResearch & Development: 14% (FY20), 13% (FY21), 16% (FY22), 18% (FY23), 20% (FY24E), 18% (Target Model)\nGeneral & Administrative: 23% (FY20), 22% (FY21), 23% (FY22), 22% (FY23), 15% (FY24E), 10% (Target Model)\nNon-GAAP Operating Income (Loss) Margin: -4% (FY20), 0% (FY21), -6% (FY22), 4% (FY23), 12% (FY24E), 22% (Target Model)\nFCF Margin: 2% (FY20), 11% (FY21), -6% (FY22), 0% (FY23), 8% (FY24E), 25% (Target Model)",
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