Snap Inc Results Presentation Deck
Non-GAAP Financial Measures Reconciliation - Annual
(in thousands, unaudited)
Adjusted EBITDA Reconciliation
Net income (loss)
Add (deduct):
Interest income
Interest expense
Other (income) expense, net
Income tax (benefit) expense
Depreciation and amortization
Stock-based compensation expense
Payroll and other tax expense related to stock-based compensation
Securities class actions legal charges¹
Reduction in force¹
Lease exit charges¹
Restructuring charges²
Adjusted EBITDA³
Free Cash Flow Reconciliation
Net cash provided by (used in) operating activities
Less:
Purchases of property and equipment
Free Cash Flow
$
$
$
$
2018
(1,255,911)
(27,228)
3,894
8,248
2,547
91,648
538,211
21,927
2018
9,884
31,143
(575,637) $
(689,924) $
(120,242)
(810,166) $
2019
(1,033,660) $
(36,042)
24,994
(59,013)
393
87,245
686,013
2019
27,840
100,000
(202,230) $
(304,958) $
(36,478)
(341,436) $
Year Ended
2020
(944,839)
(18,127)
97,228
(14,988)
18,654
86,744
770,182
2020
50,309
45,163
Year Ended
$
$
(167,644) $
(57,832)
(225,476) $
2021
(487,955) $
(5,199)
17,676
(240,175)
13,584
119,141
1,092,135
107,479
2021
616,686
$
292,880 $
(69,875)
223,005 $
2022
(1,429,653)
(58,597)
21,459
42,529
28,956
186,434
1,353,283
2022
44,213
188,949
377,573
184,614
(129,306)
55,308
¹'Securities class actions legal charges related to a preliminary agreement to settle the securities class actions that arose following our IPO. Charges recorded are net of amounts directly covered by insurance. These and other charges relating to reduction in force and lease exit charges in prior years are non-
recurring and not reflective of underlying trends i our business.
²Restructuring charges in 2022 were composed primarily of severance and related charges of $97 million, stock-based compensation expense, lease exit and related charges, impairment charges, contract termination charges, and intangible asset amortization. These charges are non-recurring and not reflective of
underlying trends in our business.
³Adjusted EBITDA is a non-GAAP measure, which we define as net income (loss), excluding interest income; interest expense; other income (expense), net; income tax benefit (expense); depreciation and amortization; stock-based compensation expense; payroll and other tax expense related to stock-based
compensation; and certain other non-cash or non-recurring items impacting net income (loss) from time to time.
*Free Cash Flow is a non-GAAP measure, which we define as net cash provided by (used in) operating activities, reduced by purchases of property and equipment.
Numbers throughout presentation may not foot due to rounding.
3View entire presentation