Snap Inc Investor Presentation Deck
Snap Inc.
Balanced Approach to Investment Driving Path to Profitability
Adjusted operating
expenses as a % of
revenue
Total Adjusted
Operating Expenses
Total Non-GAAP
Exclusions¹
Total GAAP
Operating Expenses
Free Cash Flow ($M)
84%
2018
$988
$662
Adjusted operating expense discipline...
$1,650
$(810)
2018
61%
2019
$1,050
$873
$1,923
Approaching FCF breakeven...
$(341)
2019
52%
2020
$1,311
$875
$2,186
$(225)
2020
Adjusted EBITDA ($M)
...leading to adjusted EBITDA profitability2
$(576)
2018
$(1,256)
2018
$(202)
2019
...and improving net income / (loss)
$(1,034)
2019
$45
2020
$(945)
2020
1. Excludes stock-based compensation expense and related payroll tax expense, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time. See Appendix for reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses.
2. We 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. See Appendix for reconciliation of net loss to Adjusted EBITDA.
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