“Looking ahead to the second half of the year, we remain focused on calibrating expense growth below revenue growth, even as we increase investment and resourcing to AIP and invest in specific geographies around the world.”

In context

“nue to manage expense growth primarily by driving leverage in G&A, capitalizing on cloud efficiencies and calibrating our headcount investments in key strategic areas of growth. Consistent with prior years, we expect to see an increase in expenses in the third quarter as we onboard our new grad cohort of world-class technical talent. As we have stated over the past few quarters, we are fiercely committed to sustained GAAP profitability. On the back of three consecutive quarters of GAAP net income and expanding operating margins, we are increasing investments and resources dedicated to our new product, AIP, while at the same time, increasing our full year adjusted income from operations guidance to an excess of $576 million, an increase of $45 million above the midpoint of our prior range. Looking ahead to the second half of the year, we remain focused on calibrating expense growth below revenue growth, even as we increase investment and resourcing to AIP and invest in specific geographies around the world. We generated income from operations of $10 million, our second consecutive quarter of GAAP operating income. We continue to manage our stock-based compensation. As mentioned last quarter, we expect it to trend up through the back half of the year. However, we remain laser focused on GAAP net income and operating profitability. As we think about equity compensation and aligning it to shareholder value, we are in the process of linking future employee equity compensation to the success of AIP. Turning to net income. GAAP net income was $28 million, our third consecutive quarter of GAAP profitability. Adjusted earnings per share was $0.05 and GAAP earnings per share was $0.01. Additionally, our combined revenue growth and adjusted operating margin was 38%. We expect to return to executing in”