Snap Inc Results Presentation Deck
Non-GAAP Financial Measures Reconciliation - - Quarterly
(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
Restructuring charges¹
Adjusted EBITDA²
Free Cash Flow Reconciliation
Net cash provided by (used in) operating activities
Less:
Purchases of property and equipment
Free Cash Flow³
$
$
$
$
June 30, 2022
(422,067)
(8,331)
5,549
16,910
6,999
79,291
318,810
10,029
7,190
June 30, 2022
September 30, 2022
$
$
(124,081) $
(359,502)
(23,370)
(147,451) $
(18,445)
5,425
(71,961)
9,241
34,068
312,690
September 30, 2022
6,561
154,563
72,640
55,945
$
$
$
(37,836)
18,109 $
Three Months Ended
March 31, 2023
December 31, 2022
(288,460)
(28,698)
5,312
20,043
4,206
34,975
446,339
5,172
34,386
233,275
125,291
$
Three Months Ended
December 31, 2022
(46,925)
78,366
$
$
$
(328,674)
(37,948)
5,885
(11,372)
6,845
35,220
314,931
15,926
813
March 31, 2023
151,102
$
$
$
(47,630)
103,472 $
June 30, 2023
(377,308)
(43,144)
5,343
(1,323)
12,093
39,688
317,943
8,229
(38,479)
June 30, 2023
September 30, 2023
$
$
(81,936) $
(368,256)
(36,943)
(118,879) $
(43,839)
5,521
20,662
5,849
41,209
353,846
September 30, 2023
6,463
18,639
40,094
12,781
(73,435)
(60,654)
'Restructuring charges were composed primarily of severance and related charges of $91 million and $6 million in Q3 2022 and Q4 2022, respectively, stock-based compensation expense, lease exit and related charges, impairment charges, contract termination charges, and intangible asset amortization.
Restructuring charges were composed primarily of severance and stock-based compensation expense in Q3 2023. These charges are non-recurring and not reflective of underlying trends in our business.
2Adjusted 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.
³Free 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.
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