Snap Inc Results Presentation Deck
Non-GAAP Financial Measures Reconciliation
(in thousands, unaudited)
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
Spectacles inventory-related charges
Adjusted EBITDA¹
Free Cash Flow reconciliation:
Net cash used in operating activities
Less:
Purchases of property and equipment
Free Cash Flow²
September 30,
2016
(124,228) $
(1,938)
648
1,421
(6,871)
7,437
14,795
132
$
December 31,
2016
September 30,
2016
(216,866) $
Three Months Ended
March 31,
2017
(169,945) $
(17,192)
(234,058) $
(1,486)
776
1,215
(297)
December 31,
2016
10,633
6,767
53
$ (108,604) $ (152,284) $ (188,243) $
Three Months Ended
March 31,
2017
(167,728) $
(2,208,837) $
(20,376)
(188,104) $
(2,424)
695
(187)
(3,014)
12,450
1,992,121
20,953
(154,997) $
(17,993)
(172,990) $
June 30,
2017
(443,093) $
(6,349)
998
(786)
212
12,585
245,028
(2,585)
September 30,
2017
(193,990) $
June 30,
2017
(209,574) $
(443,159)
(19,365)
(228,939) $
(6,253)
887
(1,002)
(12,300)
17,467
221,702
September 30,
2017
3,890
39,867
(178,901)
(194,013)
(25,948)
(219,961)
$
¹ 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. Spectacles inventory-related charges were primarily related to excess inventory reserves and inventory purchase commitment cancellation
charges. These charges are non-recurring and not reflective of underlying trends in our business.
2 We define Free Cash Flow as net cash used in operating activities, reduced by purchases of property and equipment.View entire presentation