Snap Inc Results Presentation Deck
Non-GAAP Financial Measures Reconciliation
(in thousands, unaudited)
Free Cash Flow Reconciliation
Net cash used in operating activities
Less:
Purchases of property and equipment
Free Cash Flow¹
Adjusted EBITDA Reconciliation
Net loss
Add (deduct):
Interest income
Interest expense
Other (income) expense, net
Income tax (benefit) expense
Depreciation and amortization
Stock-based compensation expense
Payroll tax expense related to stock-based compensation
Reduction in force charges
Lease exit charges
Adjusted EBITDA²
$
$
$
$
March 31, 2018
(231,981) $
(36,315)
(268,296) $
March 31, 2018
(385,785) $
(6,104)
934
(3,153)
1,578
21,553
133,258
9,968
9,884
(217,867) $
June 30, 2018
(199,346) $
(34,901)
(234,247) $
June 30, 2018
(353,310) $
(6,600)
930
61
1,077
22,514
156,371
5,997
September 30, 2018
Three Months Ended
3,928
(169,032) $
(132,543) $
(26,285)
(158,828) $
September 30, 2018
Three Months Ended
(325,148) $
(7,011)
919
7,625
244
24,898
126,809
3,947
December 31, 2018
29,340
(138,377) $
(126,054) $
(22,741)
(148,795) $
December 31, 2018
(191,668) $
(7,513)
1,111
3,715
(352)
22,682
121,772
2,015
(2,125)
(50,363) $
March 31, 2019
(66,178) $
(11,814)
(77,992) $
March 31, 2019
(310,407) $
(7,816)
756
1,127
279
23,319
162,556
6,737
(123,449) $
June 30, 2019
(95,789)
(7,633)
(103,422)
June 30, 2019
(255,174)
(7,446)
809
(44,085)
1,078
22,660
195,574
7,871
(78,713)
¹ We define Free Cash Flow as net cash provided by (used in) operating activities, reduced by purchases of property and equipment.
2We define Adjusted EBITDA as net income (loss), excluding interest income; interest expense; other income (expense), net; income tax benefit (expense); depreciation and amortization; stock-based compensation expense and related payroll tax expense; and certain other non-cash or non-recurring items impacting net
income (loss) from time to time. Reduction in force charges in Q1 2018 were primarily composed of severance expense and related payroll tax expense related to a reduction in force plan. Lease exit charges were related to our exit of various operating leases prior to the end of the contractual lease term. The lease exit charges
primarily include the present value of our remaining lease obligation on the cease use dates that occurred during the quarter, net of estimated sublease income. These charges are non-recurring and not reflective of underlying trends in our business.
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