Snap Inc Results Presentation Deck
Adjusted
Gross
Margin¹
Adjusted Cost of Revenue¹
ADJUSTED COST OF REVENUE AS A % OF REVENUE
54%
Q2'19
46%
49%
Q3'19
51%
44%
Q4'19
56%
-7 PPT
53%
Q1'20
47%
53%
Q2'20
47%
42%
Q3'20
58%
COST OF REVENUE COMPOSITION
(in millions, unaudited)
Infrastructure Cost
Total Non-GAAP
Exclusions¹
Total GAAP Cost
of Revenue
Revenue Share Cost
Other
$208
$24
$37
$146
Q2'19
$8
$215
¹Excludes stock-based compensation expense and related payroll tax expense, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time.
$217
$26
$45
$146
Q3'19
$6
$223
$247
$33
$58
$157
Q4'19
$6
$253
ADJUSTED GROSS MARGIN¹ IMPROVED 7 PPT YOY
+31%
$246
$32
$50
$163
Q1'20
$7
$253
$243
$27
$52
$163
Q2'20
$8
$250
$285
$36
$75
$174
Q3'20
$8
$293
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