Snap Inc Results Presentation Deck
Non-GAAP Financial Measures Reconciliation - Quarterly
(in thousands, unaudited)
Non-GAAP net income (loss) reconciliation
Net income (loss)
Amortization of intangible assets
Stock-based compensation expense
Payroll and other tax expense related to stock-based
compensation
Restructuring charges¹
Income tax adjustments
Non-GAAP net income (loss)²
Weighted-average common shares - Diluted³
Non-GAAP diluted net income (loss) per share reconciliation
GAAP diluted net income (loss) per share
Non-GAAP adjustment to net income (loss)
Non-GAAP diluted net income (loss) per share²
$
$
$
$
June 30, 2022
(422,067)
64,134
318,810
10,029
1,632,140
(504)
(29,598) $
June 30, 2022
September 30, 2022
(0.26)
0.24
(0.02)
$
$
(359,502)
18,701
312,690
$
6,561
154,563
(954)
132,059
September 30, 2022
1,608,523
$
$
$
(0.22)
0.30
0.08 $
Three Months Ended
March 31, 2023
December 31, 2022
(288,460)
18,073
446,339
5,172
34,386
(988)
214,522
1,573,883
December 31, 2022
$
Three Months Ended
(0.18)
0.32
0.14
$
$
$
(328,674)
17,755
314,931
15,926
32
19,970
1,581,370
March 31, 2023
(0.21)
0.22
0.01
$
$
$
$
June 30, 2023
(377,308)
18,405
317,943
8,229
1,603,172
(269)
(33,000) $
June 30, 2023
September 30, 2023
(0.24)
0.22
(0.02)
$
$
(368,256)
19,134
353,846
$
6,463
18,639
(573)
29,253
September 30, 2023
1,625,917
(0.23)
0.25
0.02
'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.
We define Non-GAAP net income (loss) as net income (loss); excluding amortization of intangible assets; stock-based compensation expense; payroll and other tax expense related to stock-based compensation; certain other non-cash or non-recurring items impacting net income (loss) from time to time; and related
income tax adjustments. Non-GAAP net income (loss) and weighted average diluted shares are then used to calculate Non-GAAP diluted net income (loss) per share.
³For all periods, weighted average common shares used in computation of diluted EPS primarily excluded unvested or unexercised stock-based awards, Convertible Notes, and Capped Call shares as they were anti-dilutive.
Constant currency revenue is a non-GAAP measure, which we define as GAAP revenue in the current period translated using the prior period average monthly exchange rates for revenue transactions in currencies other than the U.S. dollar. We calculate the constant currency revenue percentage change using
current period constant currency revenue and prior period GAAP revenue. We report revenue on a constant-currency basis in order to facilitate period-to-period comparisons of our results without regard to the impact of fluctuating foreign currency exchange rates, which we believe is helpful to investors. However,
constant currency revenue is a non-GAAP financial measure, may be calculated differently from similarly titled measures used by other companies, and i not meant to be considered as an alternative or substitute for comparable measures prepared in accordance with GAAP.
Numbers throughout presentation may not foot due to rounding.
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