Snap Inc Investor Presentation Deck
Snap Inc.
Non-GAAP Financial Measures Reconciliation
(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
Securities class actions legal charges¹
Reduction in force¹
Lease exit charges¹
Restructuring charges²
Adjusted EBITDA³
Free Cash Flow Reconciliation
Net cash provided by (used in) operating activities
Less:
Purchases of property and equipment
Free Cash Flow4
$
$
$
$
2018
(1,255,911) $
(27,228)
3,894
8,248
2,547
91,648
538,211
2018
21,927
Annual
9,884
31,143
(575,637) $
(689,924) $
(120,242)
(810,166) $
2019
(1,033,660) $
(36,042)
24,994
(59,013)
393
87,245
686,013
2019
27,840
100,000
(202,230) $
(304,958) $
(36,478)
(341,436) $
Year Ended
2020
(944,839) $
(18,127)
97,228
(14,988)
18,654
86,744
770,182
2020
50,309
45,163
Year Ended
$
(167,644) $
(57,832)
(225,476) $
2021
(487,955) $
(5,199)
17,676
(240,175)
13,584
119,141
1,092,135
2021
107,479
616,686 $
292,880 $
(69,875)
223,005 $
2022
(1,429,653)
(58,597)
21,459
42,529
28,956
186,434
1,353,283
2022
44,213
188,949
377,573
184,614
(129,306)
55,308
¹ Securities class actions legal charges related to a preliminary agreement to settle the securities class actions that arose following our IPO. Charges recorded are net of amounts directly covered by insurance. These and other charges relating to reduction in force and lease exit charges
in prior years are non-recurring and not reflective of underlying trends in our business.
2 Restructuring charges in 2022 were composed primarily of severance and related charges of $97 million, 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.
3 Adjusted 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.
4 Free 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.
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