“While we continue to manage our stock-based compensation expense, as I mentioned in previous quarters, we expect it to trend up in Q4 as we continue to invest in AIP.”

In context

“d our unwavering dedication to sustain GAAP profitability and GAAP operating income. Our four consecutive quarters of improving GAAP operating income enable us to more aggressively invest in AIP. Looking ahead to the fourth quarter and beyond, we remain focused on calibrating expense growth below revenue growth, even as we increase investment and resourcing to AIP and in specific geographies around the world. In the third quarter, we generated GAAP operating income of $40 million, our third consecutive quarter of GAAP operating income. We also generated GAAP net income of $72 million, representing a 13% margin, our fourth consecutive quarter of GAAP profitability. This is the first time we've ever achieved both GAAP net income and GAAP operating profitability on a trailing 12-month basis. While we continue to manage our stock-based compensation expense, as I mentioned in previous quarters, we expect it to trend up in Q4 as we continue to invest in AIP. Third quarter adjusted earnings per share was $0.07 and GAAP earnings per share was $0.03. Additionally, our combined revenue growth and adjusted operating margin accelerated to 46%, an 800 basis point increase to a Rule of 40 score from the prior quarter. We will strive to maintain this exceptional balance of top and bottom line performance. Turning to our cash flow. In the third quarter, we generated $141 million in adjusted free cash flow, representing a margin of 25%, and $133 million in cash from operations, representing a margin of 24%. Over the past four quarters, we've generated $490 million in cash flow from operations and $502 million in adjusted free cash flow, marking the first time we've exceeded $0.5 billion in adjusted free cash flow on a trailing 12-month basis. We ended Q”