Snap Inc Results Presentation Deck
Adjusted
Gross
Margin¹
Adjusted Cost of Revenue¹
ADJUSTED COST OF REVENUE AS A % OF REVENUE
42%
Q3'20
58%
41%
Q4'20
59%
53%
Q1'21
47%
- 7 PPT
45%
Q2'21
55%
40%
Q3'21
60%
34%
Q4'21
66%
COST OF REVENUE COMPOSITION²
(in millions, unaudited)
Infrastructure Costs
Advertising Partner & Other Costs
Total Non-GAAP
Exclusions¹
$285
$71
$40
$174
Q3'20
$8
$377
$141
$54
$182
Q4'20
$9
$404
$179
$51
$174
Q1'21
Content & Developer Partner Costs
$8
Total GAAP Cost
of Revenue
$293
$386
$413
¹Excludes stock-based compensation expense and other payroll related tax expense, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time.
2In Q1 2021, we updated the presentation of our cost of revenue composition.
Numbers throughout presentation may not foot due to rounding.
ADJUSTED GROSS MARGIN¹ IMPROVED 7 PPT YOY
+17%
$437
$182
$74
$182
Q2'21
$8
$445
$429
$149
$78
$202
Q3'21
$14
$443
$442
$143
$87
$212
Q4'21
$8
$449
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