Snap Inc Investor Presentation Deck
Snap Inc.
Non-GAAP Financial Measures Reconciliation - Annual
(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 tax expense related to stock-based compensation
Securities class actions legal charges
Spectacles inventory-related charges
Reduction in force
Lease exit charges
Adjusted EBITDA²
Free Cash Flow Reconciliation
Net cash provided by (used) in operating activities
Less:
Purchases of property and equipment
Free Cash Flow¹
$
$
2017
(3,445,066) $
(21,096)
3,456
(4,528)
(18,342)
61,288
2,639,895
24,470
39,867
(720,056) $
2017
(734,667) S
(84,518)
(819,185) $
2018
(1,255,911) S
(27,228)
3,894
8,248
2,547
91,648
538,211
21,927
9,884
31,143
(575,637) $
2018
(689,924) S
(120,242)
(810,166) $
Year Ended
2019
(1,033,660) $
(36,042)
24,994
(59,013)
393
87,245
686,013
27,840
100,000
(202,230) $
Year Ended
2019
(304,958) $
(36,478)
(341,436) $
2020
(944,839) S
(18,127)
97,228
(14,988)
18,654
86,744
770,182
50,309
45,163
2020
$
(167,644) S
(57,832)
(225,476) $
2021
(487,955)
(5,199)
17,676
(240,175)
13,584
119,141
1,092,135
107,479
616,686
2021
292,880
(69,875)
223,005
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 other payroll related tax expense; and certain other non-cash or
non-recurring items impacting net income (loss) from time to time. Securities class action lawsuit legal charges related to a preliminary agreement to settle the securities class action lawsuit that arose following our IPO. Charges recorded are net of amounts directly covered by insurance. These charges
are non-recurring and not reflective of underlying trends in our business.
Numbers throughout presentation may not foot due to rounding.
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