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
September 30, 2021
$
$
$
(71,959)
$
(1,257)
4,031
(112,631)
992
32,510
300,898
21,615
September 30, 2021
174,199
71,552
$
$
$
(19,836)
51,716 $
December 31, 2021
22,550
(1,554)
4,050
(63,204)
13,031
34,863
297,564
19,493
326,793
December 31, 2021
185,528
$
$
$
(24,565)
160,963 $
Three Months Ended
June 30, 2022
March 31, 2022
(359,624)
(3,123)
5,173
77,537
8,510
38,100
275,444
22,451
64,468
$
$
Three Months Ended
March 31, 2022
127,459 $
(21,175)
106,284 $
(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
$
$
$
December 31, 2022
$
(288,460)
(28,698)
5,312
20,043
4,206
34,975
446,339
5,172
34,386
233,275
December 31, 2022
125,291
(46,925)
78,366
'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. 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.
1View entire presentation