Exhibit 99.1
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Dynatrace Reports Fourth Quarter and Full Year Fiscal 2025 Financial Results
Exceeds high end of guidance across all FY25 metrics
Delivers FY25 Subscription Revenue growth of 20% year-over-year on a constant currency basis
Achieves FY25 GAAP Operating Margin of 11% and Non-GAAP Operating Margin of 29%

WALTHAM, Mass., May 14, 2025 - Dynatrace (NYSE: DT), the leading AI-powered observability platform, today announced financial results for the fourth quarter and full year ended March 31, 2025.

"Dynatrace delivered a strong finish to fiscal 2025. Our fourth quarter results exceeded guidance on all of our key operating metrics, fueled by broad consumption growth across the platform," said Rick McConnell, Chief Executive Officer of Dynatrace. "The world continues to shift to cloud and AI-native software deployments. Purpose-built for this environment, Dynatrace’s AI-powered observability platform provides customers not only with rich technical analytics but also valuable business insights. We remain focused on delivering extraordinary customer value, generating strong profitability and free cash flow, and investing thoughtfully in strategic priorities to capture the substantial opportunities we see ahead."

All growth rates are compared to the fourth quarter and full year fiscal 2024 ended March 31, 2024 unless otherwise noted.
Fourth Quarter Fiscal 2025 Financial Highlights:
•Total ARR of $1,734 million, an increase of 15%, or 17% on a constant currency basis
•Total Revenue of $445 million, an increase of 17%, or 19% on a constant currency basis
•Subscription Revenue of $424 million, an increase of 18%, or 20% on a constant currency basis
•GAAP Income from Operations of $43 million and Non-GAAP Income from Operations of $118 million
•GAAP EPS of $0.13 and non-GAAP EPS of $0.33, on a dilutive basis

Full Year Fiscal 2025 Financial Highlights:
•Total Revenue of $1,699 million, an increase of 19%, or 20% on a constant currency basis
•Subscription Revenue of $1,622 million, an increase of 19%, or 20% on a constant currency basis
•GAAP Income from Operations of $179 million and Non-GAAP Income from Operations of $494 million
•GAAP EPS of $1.591 and non-GAAP EPS of $1.39, on a dilutive basis
•GAAP Operating Cash Flow of $459 million and Free Cash Flow of $431 million

Business Highlights:
•Go-to-market traction: Dynatrace closed 15 deals greater than $1 million in annual contract value (ACV) in the quarter, fourteen of which were in collaboration with partners. Dynatrace Platform Subscription (DPS) licensing models continue to gain traction with over 40% of our customer base and more than 60% of our ARR leveraging this flexible, scalable, and transparent subscription approach. Consumption growth rates across the Dynatrace platform continued to outpace revenue growth, with consumption growth rates for DPS customers growing twice the rate of SKU-based customers.

•Partner evolution: Dynatrace signed a new strategic collaboration agreement with Amazon Web Services (AWS) to optimize the digital enterprise to provide joint customers with elevated business insights and accelerated time to outcomes. In addition, we announced early access for joint Google Cloud customers to our latest platform innovations, powered by Grail™ enabling customers to benefit from the combined power of the Dynatrace platform with Google Cloud's cutting-edge infrastructure and AI capabilities.

•Industry and customer recognition: Dynatrace was named a Leader in The Forrester Wave™: AIOps Platforms, Q2 2025 report2 with the highest score in the Current Offering category. Dynatrace was also named a Leader and Outperformer in the 2025 GigaOm Radar Report for Cloud Observability, highlighting the company’s industry leadership and proven ability to help customers turn complex data into an asset by leveraging its AI-powered observability platform. In addition, Dynatrace has been named a Customers’ Choice in the 2024 Gartner Peer Insights Voice of the Customer for Observability Platforms report.3
1


Share Repurchase Program
•During the fourth quarter, Dynatrace spent $43 million to repurchase 787,000 shares at an average price of $53.99 under its $500 million share repurchase program. From the inception of the program in May 2024 through March 31, 2025, Dynatrace has repurchased 3.4 million shares for $173 million at an average price of $50.06.


























_____________________


1 During fiscal 2025, Dynatrace completed an intra-entity asset transfer of the global economic rights of intellectual property (IP) from a wholly-owned U.S. subsidiary to a wholly-owned Swiss subsidiary, more closely aligning IP rights with business operations. The transfer generated an income tax benefit of $320.9 million, or $1.06 per share on a dilutive basis.

2 Forrester does not endorse any company, product, brand, or service included in its research publications and does not advise any person to select the products or services of any company or brand based on the ratings included in such publications. Information is based on the best available resources. Opinions reflect judgment at the time and are subject to change. For more information, read about Forrester’s objectivity here.

3 Gartner, Peer Insights Voice of the Customer for Observability Platforms, By Peer Contributors, 24 December 2024.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, PEER INSIGHTS is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

The Gartner content described herein (the “Gartner Content”) represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this Earnings Press Release), and the opinions expressed in the Gartner Content are subject to change without notice.


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Fourth Quarter 2025 Financial Highlights
(Unaudited – In thousands, except per share data)
Three Months Ended March 31,
20252024
Annual recurring revenue (ARR):
Total ARR$1,734,164 $1,503,819 
Year-over-Year Increase15 %
Year-over-Year Increase - constant currency (*)17 %
Revenue:
Total revenue$445,165 $380,848 
Year-over-Year Increase17 %
Year-over-Year Increase - constant currency (*)
19 %
Subscription revenue$423,570 $360,109 
Year-over-Year Increase18 %
Year-over-Year Increase - constant currency (*)
20 %
GAAP Financial Measures:
GAAP income from operations$42,914 $23,123 
GAAP operating margin10 %6 %
GAAP net income$39,304 $37,944 
GAAP net income per share - diluted$0.13 $0.13 
GAAP shares outstanding - diluted304,354 300,867 
Net cash provided by operating activities$162,790 $131,672 
Net cash provided by operating activities as a percent of revenue37 %35 %
Non-GAAP Financial Measures (*):
Non-GAAP income from operations$117,887 $95,093 
Non-GAAP operating margin26 %25 %
Non-GAAP net income$99,047 $89,401 
Non-GAAP net income per share - diluted$0.33 $0.30 
Non-GAAP shares outstanding - diluted304,354 300,867 
Free Cash Flow$145,528 $121,262 
Free Cash Flow margin33 %32 %
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Full Year 2025 Financial Highlights
(Unaudited – In thousands, except per share data)
Year Ended March 31,
20252024
Revenue:
Total revenue$1,698,683 $1,430,530 
Year-over-Year Increase19 %
Year-over-Year Increase - constant currency (*)
20 %
Subscription revenue$1,622,163 $1,359,354 
Year-over-Year Increase19 %
Year-over-Year Increase - constant currency (*)
20 %
GAAP Financial Measures:
GAAP income from operations
$179,433 $128,400 
GAAP operating margin11 %9 %
GAAP net income (**)
$483,684 $154,632 
GAAP net income per share - diluted (**)
$1.59 $0.52 
GAAP shares outstanding - diluted303,602 299,280 
Net cash provided by operating activities$459,419 $378,109 
Net cash provided by operating activities as a percent of revenue27 %26 %
Non-GAAP Financial Measures (*):
Non-GAAP income from operations
$493,540 $398,239 
Non-GAAP operating margin29 %28 %
Non-GAAP net income$422,313 $358,117 
Non-GAAP net income per share - diluted$1.39 $1.20 
Non-GAAP shares outstanding - diluted303,602 299,280 
Free Cash Flow430,617 346,382 
Free Cash Flow margin25 %24 %
* For additional information, please see the "Non-GAAP Financial Measures" and "Definitions - Non-GAAP and Other Metrics" sections of this press release.
** For additional information, please see note 1 of this press release.

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Financial Outlook
Based on information available as of May 14, 2025, Dynatrace is issuing guidance for the first quarter and full year fiscal 2026 in the table below. This guidance is based on foreign exchange spot rates as of May 12, 2025. The total foreign exchange tailwind for fiscal 2026 is expected to be approximately $20 million on ARR and $17 million on revenue. This guidance also excludes the impact of any share repurchases during fiscal 2026.

Growth rates for ARR, Total revenue, and Subscription revenue are presented in constant currency to provide better visibility into the underlying growth of the business.

All growth rates are compared to the first quarter and full year of fiscal 2025 ended March 31, 2025 unless otherwise noted.

(In millions, except per share data)First Quarter
 Fiscal 2026		Full Year
Fiscal 2026*
ARR-
$1,975 - $1,990
As reported-
14% - 15%
Constant currency-
13% - 14%
Total revenue
$465 - $470
$1,950 - $1,965
As reported
17% - 18%
15% - 16%
Constant currency
16% - 17%
14% - 15%
Subscription revenue
$445 - $450
$1,865 - $1,880
As reported
17% - 18%
15% - 16%
Constant currency
16% - 17%
14% - 15%
Non-GAAP income from operations
$130 - $135
$560 - $570
Non-GAAP operating margin
28% - 28.5%
29%
Non-GAAP net income
$111 - $116
$481 - $494
Non-GAAP net income per diluted share
$0.37 - $0.38
$1.56 - $1.59
Diluted weighted average shares outstanding
304 - 305
309 - 310
Free cash flow-
$505 - $515
Free cash flow margin-
26%
*Guidance growth rates rounded to the nearest percentage point.

Conference Call and Webcast Information
Dynatrace will host a conference call and live webcast to discuss its results and business outlook at 8:00 a.m. Eastern Time today, May 14, 2025. To access the conference call from the U.S. and Canada, dial (866) 405-1247, or internationally, dial (201) 689-8045 with event confirmation #: 13753227. The call will also be available live via webcast on the company’s website, ir.dynatrace.com.

An audio replay of the call will also be available until 11:59 p.m. Eastern Time on August 12, 2025 by dialing (877) 660-6853 from the U.S. or Canada, or for international callers by dialing (201) 612-7415 and entering event confirmation #: 13753227. In addition, an archived webcast will be available at ir.dynatrace.com.

We announce material financial information to our investors using our Investor Relations website, press releases, SEC filings and public conference calls and webcasts. We also use these channels to disclose information about the company, our planned financial and other announcements, attendance at upcoming investor and industry conferences, and for complying with our disclosure obligations under Regulation FD.


5

Non-GAAP Financial Measures & Key Metrics
In addition to disclosing financial measures prepared in accordance with GAAP, this press release and the accompanying tables contain certain non-GAAP financial measures as defined by Regulation G, including non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per diluted share, and free cash flow. We also use or discuss non-GAAP financial measures in conference calls, slide presentations and webcasts.

We use these non-GAAP financial measures for financial and operational decision-making purposes, and as a means to evaluate period-to-period comparisons and liquidity. We believe that these non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of past financial performance and allow for greater transparency with respect to metrics used by our management in its financial and operational decision-making.

The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Our non-GAAP financial measures may not provide information that is directly comparable to similarly titled metrics provided by other companies.

Non-GAAP financial measures are defined in this press release and the tables included in this press release include reconciliations of historical non-GAAP financial measures to their most directly comparable GAAP measures.

We also include non-GAAP financial measures in our financial outlook included in this press release. Reconciliations of forward-looking non-GAAP income from operations, non-GAAP net income, non-GAAP net income per diluted share, and free cash flow guidance to the most directly comparable GAAP measures are not available without unreasonable efforts due to the high variability, complexity, and low visibility with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of share-based compensation expense, employer taxes and tax deductions specific to equity compensation awards that are directly impacted by future hiring, turnover and retention needs, as well as unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.
Definitions - Non-GAAP and Other Metrics
Annual Recurring Revenue (ARR) is defined as the daily revenue of all subscription agreements that are actively generating revenue as of the last day of the reporting period multiplied by 365. We exclude from our calculation of ARR any revenues derived from month-to-month agreements and/or product usage overage billings.
Constant Currency amounts for ARR, Total Revenue and Subscription Revenue are presented to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign exchange rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods. All growth comparisons relate to the corresponding period in the last fiscal year.
Non-GAAP Income from Operations is defined as GAAP income from operations adjusted for the following items: share-based compensation; employer payroll taxes on employee stock transactions; amortization of intangibles; transaction, restructuring and other non-recurring or unusual items that may arise from time to time. The related margin is non-GAAP income from operations expressed as a percentage of total revenue.
Non-GAAP Net Income is defined as GAAP net income adjusted for the following items: income tax expense/benefit; non-GAAP effective cash taxes; net interest expense and income; net cash received from and paid for interest; share-based compensation; employer payroll taxes on employee stock transactions, amortization of intangibles; gains and losses on currency translation; and transaction, restructuring and other non-recurring or unusual items that may arise from time to time. Non-GAAP net income per diluted share is calculated as non-GAAP net income divided by the diluted weighted average shares outstanding used to compute GAAP net income per diluted share.
Free Cash Flow is defined as the net cash provided by or used in operating activities less capital expenditures, reflected as purchase of property and equipment and capitalized software additions in our financial statements. The related margin is free cash flow expressed as a percentage of total revenue.

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About Dynatrace
Dynatrace (NYSE: DT) is advancing observability for today’s digital businesses, helping to transform the complexity of modern digital ecosystems into powerful business assets. By leveraging AI-powered insights, Dynatrace enables organizations to analyze, automate, and innovate faster to drive their business forward. To learn more about Dynatrace, visit www.dynatrace.com, visit our blog and follow us on LinkedIn and X @dynatrace.


Cautionary Language Concerning Forward-Looking Statements
This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the benefits that we believe organizations receive from using Dynatrace, our focus on delivering extraordinary customer value, generating strong profitability and free cash flow, and investing thoughtfully in strategic priorities to capture the substantial opportunities we see ahead, and our financial and business outlook, including our financial guidance for the first quarter and full year of fiscal 2026. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “will,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, our ability to maintain our revenue growth rates in future periods; market adoption of our product offerings; continued demand for, and spending on, our solutions; our ability to innovate and develop solutions that meet customer needs, including through Davis AI; the ability of our platform and solutions to effectively interoperate with customers’ IT infrastructures; our ability to acquire new customers and retain and expand our relationships with existing customers; our ability to expand our sales and marketing capabilities; our ability to compete; our ability to maintain successful relationships with partners; security breaches, other security incidents and any real or perceived errors, failures, defects or vulnerabilities in our solutions; our ability to protect our intellectual property; our ability to hire and retain necessary qualified employees to grow our business and expand our operations; our ability to successfully complete acquisitions and to integrate newly acquired businesses and offerings; the effect on our business of the macroeconomic environment, associated global economic conditions and geopolitical disruption; and other risks set forth under the caption “Risk Factors” in our Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.


7

DYNATRACE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Three Months Ended March 31,Twelve Months Ended March 31,
2025202420252024
(unaudited)
Revenue:
Subscription$423,570 $360,109 $1,622,163 $1,359,354 
Service21,595 20,739 76,520 71,176 
Total revenue445,165 380,848 1,698,683 1,430,530 
Cost of revenue:
Cost of subscription63,265 50,181 233,299 184,765 
Cost of service21,095 17,462 73,631 65,423 
Amortization of acquired technology734 4,230 13,262 16,265 
Total cost of revenue85,094 71,873 320,192 266,453 
Gross profit360,071 308,975 1,378,491 1,164,077 
Operating expenses:
Research and development103,285 84,271 384,572 304,739 
Sales and marketing161,797 148,788 605,599 534,233 
General and administrative52,062 47,338 195,347 174,412 
Amortization of other intangibles13 5,455 13,540 22,293 
Total operating expenses317,157 285,852 1,199,058 1,035,677 
Income from operations42,914 23,123 179,433 128,400 
Interest income, net10,930 11,024 48,281 37,284 
Other income (expense), net1,860 (4,045)(4,285)(10,769)
Income before income taxes55,704 30,102 223,429 154,915 
Income tax (expense) benefit(16,400)7,842 260,255 (283)
Net income$39,304 $37,944 $483,684 $154,632 
Net income per share:
Basic
$0.13 $0.13 $1.62 $0.53 
Diluted
$0.13 $0.13 $1.59 $0.52 
Weighted average shares outstanding:
Basic
299,441 296,264 298,384 294,051 
Diluted
304,354 300,867 303,602 299,280 

SHARE-BASED COMPENSATION
Three Months Ended March 31,Twelve Months Ended March 31,
2025202420252024
(unaudited)
Cost of revenue$9,659 $6,962 $36,924 $26,622 
Research and development26,097 19,424 100,866 69,543 
Sales and marketing19,855 16,939 77,336 65,762 
General and administrative14,593 12,273 56,577 46,969 
Total share-based compensation expense$70,204 $55,598 $271,703 $208,896 
8

DYNATRACE, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
March 31,
20252024
Assets
Current assets:
Cash and cash equivalents$1,017,039 $778,983 
Short-term investments96,189 57,891 
Accounts receivable, net624,437 602,739 
Deferred commissions, current109,895 98,935 
Prepaid expenses and other current assets83,901 66,749 
Total current assets1,931,461 1,605,297 
Long-term investments51,648 46,350 
Property and equipment, net61,522 53,325 
Operating lease right-of-use asset, net67,479 61,390 
Goodwill1,336,435 1,335,494 
Intangible assets, net25,534 50,995 
Deferred tax assets, net529,550 138,836 
Deferred commissions, non-current95,297 93,310 
Other assets40,752 24,782 
Total assets$4,139,678 $3,409,779 
Liabilities and shareholders' equity
Current liabilities:
Accounts payable$27,286 $21,410 
Accrued expenses, current252,503 233,675 
Deferred revenue, current1,087,518 987,953 
Operating lease liabilities, current13,979 15,513 
Total current liabilities1,381,286 1,258,551 
Deferred revenue, non-current50,989 62,308 
Accrued expenses, non-current24,452 18,404 
Operating lease liabilities, non-current61,384 54,013 
Deferred tax liabilities419 1,013 
Total liabilities1,518,530 1,394,289 
Shareholders' equity:
Common shares, $0.001 par value, 600,000,000 shares authorized, 299,813,048 and 296,962,547 shares issued and outstanding at March 31, 2025 and 2024, respectively
300 297 
Additional paid-in capital2,370,563 2,249,349 
Retained earnings (accumulated deficit)284,927 (198,757)
Accumulated other comprehensive loss(34,642)(35,399)
Total shareholders' equity2,621,148 2,015,490 
Total liabilities and shareholders' equity$4,139,678 $3,409,779 
9

DYNATRACE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended March 31,
20252024
Cash flows from operating activities:
Net income$483,684 $154,632 
Adjustments to reconcile net income to cash provided by operations:
Depreciation19,236 15,499 
Amortization28,868 39,441 
Share-based compensation271,703 208,896 
Deferred income taxes(392,942)(59,915)
Other2,035 11,216 
Net change in operating assets and liabilities:
Accounts receivable(24,026)(161,888)
Deferred commissions(14,648)(23,520)
Prepaid expenses and other assets(36,593)(47,401)
Accounts payable and accrued expenses31,534 37,896 
Operating leases, net(231)1,026 
Deferred revenue90,799 202,227 
Net cash provided by operating activities459,419 378,109 
Cash flows from investing activities:
Purchase of property and equipment(26,106)(26,459)
Capitalized software additions(2,696)(5,268)
Acquisition of businesses, net of cash acquired(100)(57,111)
Purchases of investments(145,555)(104,210)
Sales and maturities of investments105,142 — 
Net cash used in investing activities(69,315)(193,048)
Cash flows from financing activities:
Payments of deferred consideration related to capitalized software additions(2,208)— 
Proceeds from employee stock purchase plan21,159 19,472 
Proceeds from exercise of stock options20,995 31,191 
Repurchases of common stock(172,618)— 
Taxes paid related to net share settlement of equity awards(18,958)— 
Net cash (used in) provided by financing activities(151,630)50,663 
Effect of exchange rates on cash and cash equivalents(418)(12,089)
Net increase in cash and cash equivalents238,056 223,635 
Cash and cash equivalents, beginning of year778,983 555,348 
Cash and cash equivalents, end of year$1,017,039 $778,983 
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DYNATRACE, INC.
GAAP to Non-GAAP Reconciliations
(Unaudited - In thousands)
Three Months Ended March 31, 2025
GAAPShare-based compensationEmployer payroll taxes on employee stock transactionsAmortization of intangiblesRestructuring & otherNon-GAAP
Non-GAAP income from operations:
Cost of revenue$85,094 $(9,659)$(661)$(734)$— $74,040 
Gross profit360,071 9,659 661 734 — 371,125 
Gross margin81 %83 %
Research and development103,285 (26,097)(1,637)— — 75,551 
Sales and marketing161,797 (19,855)(1,197)— (52)140,693 
General and administrative52,062 (14,593)(475)— — 36,994 
Amortization of other intangibles13 — — (13)— — 
Income from operations$42,914 $70,204 $3,970 $747 $52 $117,887 
Operating margin10 %26 %

Three Months Ended March 31, 2024
GAAPShare-based compensationEmployer payroll taxes on employee stock transactionsAmortization of intangiblesRestructuring & otherNon-GAAP
Non-GAAP income from operations:
Cost of revenue$71,873 $(6,962)$(542)$(4,230)$— $60,139 
Gross profit308,975 6,962 542 4,230 — 320,709 
Gross margin81 %84 %
Research and development84,271 (19,424)(1,055)— (26)63,766 
Sales and marketing148,788 (16,939)(1,626)— (615)129,608 
General and administrative47,338 (12,273)(392)— (2,431)32,242 
Amortization of other intangibles5,455 — — (5,455)— — 
Income from operations$23,123 $55,598 $3,615 $9,685 $3,072 $95,093 
Operating margin6 %25 %




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DYNATRACE, INC.
GAAP to Non-GAAP Reconciliations
(Unaudited - In thousands, except per share data)
Three Months Ended March 31,
20252024
Non-GAAP net income:
Net income$39,304 $37,944 
Income tax expense (benefit)16,400 (7,842)
Non-GAAP effective cash tax(29,616)(16,618)
Interest income, net(10,930)(11,024)
Cash received from interest, net10,776 10,926 
Share-based compensation70,204 55,598 
Employer payroll taxes on employee stock transactions3,970 3,615 
Amortization of intangibles747 9,685 
Transaction, restructuring, and other52 3,072 
(Gain) loss on currency translation(1,860)4,045 
Non-GAAP net income$99,047 $89,401 
Share count:
Weighted-average shares outstanding - basic299,441296,264
Weighted-average shares outstanding - diluted304,354300,867
Shares used in non-GAAP per share calculations:
Weighted-average shares outstanding - basic299,441 296,264
Weighted-average shares outstanding - diluted304,354 300,867
Non-GAAP net income per share:
Net income per share - basic$0.13 $0.13 
Net income per share - diluted$0.13 $0.13 
Non-GAAP net income per share - basic$0.33 $0.30 
Non-GAAP net income per share - diluted$0.33 $0.30 


Three Months Ended March 31,
20252024
Free Cash Flow:
Net cash provided by operating activities$162,790 $131,672 
Purchase of property and equipment(14,566)(9,797)
Capitalized software additions(2,696)(613)
Free Cash Flow$145,528 $121,262 
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DYNATRACE, INC.
GAAP to Non-GAAP Reconciliations
(Unaudited - In thousands)
Year Ended March 31, 2025
GAAPShare-based compensationEmployer payroll taxes on employee stock transactionsAmortization of intangiblesRestructuring & otherNon-GAAP
Non-GAAP income from operations:
Cost of revenue$320,192 $(36,924)$(2,447)$(13,262)$— $267,559 
Gross profit1,378,491 36,924 2,447 13,262 — 1,431,124 
Gross margin81 %84 %
Research and development384,572 (100,866)(7,121)— (3)276,582 
Sales and marketing605,599 (77,336)(4,186)— (158)523,919 
General and administrative195,347 (56,577)(1,690)— 3 137,083 
Amortization of other intangibles13,540 — — (13,540)— — 
Income from operations$179,433 $271,703 $15,444 $26,802 $158 $493,540 
Operating margin11 %29 %


Year Ended March 31, 2024
GAAPShare-based compensationEmployer payroll taxes on employee stock transactionsAmortization of intangiblesRestructuring & otherNon-GAAP
Non-GAAP income from operations:
Cost of revenue$266,453 $(26,622)$(2,058)$(16,265)$— $221,508 
Gross profit1,164,077 26,622 2,058 16,265 — 1,209,022 
Gross margin81 %85 %
Research and development304,739 (69,543)(5,446)— (26)229,724 
Sales and marketing534,233 (65,762)(4,967)— (216)463,288 
General and administrative174,412 (46,969)(1,517)— (8,155)117,771 
Amortization of other intangibles22,293 — — (22,293)— — 
Income from operations$128,400 $208,896 $13,988 $38,558 $8,397 $398,239 
Operating margin9 %28 %


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DYNATRACE, INC.
GAAP to Non-GAAP Reconciliations
(Unaudited - In thousands, except per share data)
Year Ended March 31,
20252024
Non-GAAP net income:
Net income$483,684 $154,632 
Income tax (benefit) expense(260,255)283 
Non-GAAP effective cash tax(118,154)(75,604)
Interest income, net(48,281)(37,284)
Cash received from interest, net46,927 35,482 
Share-based compensation271,703 208,896 
Employer payroll taxes on employee stock transactions15,444 13,988 
Amortization of intangibles26,802 38,558 
Transaction, restructuring, and other158 8,397 
Loss on currency translation4,285 10,769 
Non-GAAP net income$422,313 $358,117 
Share count:
Weighted-average shares outstanding - basic298,384 294,051 
Weighted-average shares outstanding - diluted303,602 299,280 
Shares used in non-GAAP per share calculations:
Weighted-average shares outstanding - basic298,384 294,051 
Weighted-average shares outstanding - diluted303,602 299,280 
Non-GAAP net income per share:
Net income per share - basic$1.62 $0.53 
Net income per share - diluted$1.59 $0.52 
Non-GAAP net income per share - basic$1.42 $1.22 
Non-GAAP net income per share - diluted$1.39 $1.20 


Year Ended March 31,
20252024
Free Cash Flow:
Net cash provided by operating activities$459,419 $378,109 
Purchase of property and equipment(26,106)(26,459)
Capitalized software additions(2,696)(5,268)
Free Cash Flow430,617 346,382 





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Contacts

Investor Contact:
Noelle Faris
VP, Investor Relations
ir@dynatrace.com

Media Relations:
Dynatrace PR Team
pr-team@dynatrace.com
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