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Dynatrace (DT) FY2023 results: revenue $1.2 billion, up 24.6% on the year

Dynatrace, Inc. (DT) reported revenue of $1.2 billion for fiscal 2023, the year ended 31 March 2023, up 24.6% on the year before. Net income was $108 million, up 105.8%, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 25 May 2023.

Revenue
$1.2 billion
+24.6% on the year
FY2018FY2023
Operating margin
8.0%
8.7% a year earlier
FY2018FY2023
Net income
$108 million
+105.8% on the year
FY2018FY2023
Diluted EPS
$0.37
+105.6% on the year
FY2018FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ millionFY2023FY2022FY2021On the yearLast 8 years
Revenue1,159929704+24.6%
Cost of revenue223173128+28.9%
Gross profit936757576+23.7%
Gross margin80.8%81.4%81.8%
Research and development218156111+39.7%
Operating income92.881.391.9+14.1%
Operating margin8.0%8.7%13.1%
Interest expense8.610.4n/a-17.3%
Pre-tax income90.071.777.9+25.5%
Income tax-18.019.22.1
Effective tax rate-20.0%26.8%2.7%
Net income10852.575.7+105.8%
Net margin9.3%5.6%10.8%
Diluted EPS$0.37$0.18$0.26+105.6%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2023FY2022FY2021On the yearLast 8 years
Operating cash flow355251220+41.4%
Capital expenditure21.517.714.1+21.7%
Free cash flow333233206+42.9%
Free cash flow margin28.8%25.1%29.3%
Cash from investing-21.5-30.9-13.9
Cash from financing-232-80.7-97.8
Depreciation and amortisation12.510.69.0+17.9%
Share-based compensation14799.557.8+47.6%
Buybacks0.0n/an/a
Diluted shares, weighted292m291m287m+0.2%
Shares outstanding at period end290m286m283m+1.5%

Balance sheet

$ millionFY2023FY2022FY2021On the yearLast 8 years
Shareholders' equity1,6051,3041,114+23.0%
Debt0.0274392
Operating lease liabilities59.552.138.2+14.3%
Other liabilities1,101911713+20.9%
Total liabilities and equity2,7652,5412,256+8.8%
Fixed assets53.645.336.9+18.3%
Goodwill1,2821,2821,271-0.0%
Intangible assets63.6106149-39.9%
Investments0.0n/an/a
Cash and equivalents555463325+20.0%
Receivables443351242+26.2%
Other assets368295232+25.0%
Total assets2,7652,5412,256+8.8%

10-K for the year ended 31 March 2023, filed 25 May 2023: the filing.