According to "The Gap between GAAP and Non-GAAP," with Non-GAAP financial measures, companies can exclude items in which they believe do not provide a faithful representation of performance. While for some industries and businesses this could be true as perhaps GAAP does not encompass all kinds of operations, I think overreliance on these reports could possibly make investors wary. Overall, I think giving companies the opportunity to exclude unfavorable figures should raise eyebrows to investors and stakeholders