• Nasdaq average gross margin for 2023 was 60.78%, a 3.38% increase from 2022.
• Nasdaq average gross margin for 2022 was 58.79%, a 6.87% increase from 2021.
• Nasdaq average gross margin for 2021 was 55.01%, a 1.91% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.