Snap Inc Results Presentation Deck
Non-GAAP Financial Measures Reconciliation - - Quarterly
(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
Restructuring charges¹
Adjusted EBITDA²
Free Cash Flow Reconciliation
Net cash provided by (used in) operating activities
Less:
Purchases of property and equipment
Free Cash Flow³
$
$
$
$
December 31, 2021
22,550
(1,554)
4,050
(63,204)
13,031
34,863
297,564
19,493
326,793
December 31, 2021
185,528
(24,565)
160,963
$
$
$
$
March 31, 2022
(359,624)
(3,123)
5,173
77,537
8,510
38,100
275,444
22,451
64,468
March 31, 2022
127,459
$
$
$
(21,175)
106,284 $
Three Months Ended
September 30, 2022
June 30, 2022
(422,067) $
(8,331)
5,549
16,910
6,999
79,291
318,810
10,029
7,190
$
Three Months Ended
June 30, 2022
(124,081) $
(359,502)
(23,370)
(147,451) $
(18,445)
5,425
(71,961)
9,241
34,068
312,690
September 30, 2022
6,561
154,563
72,640
55,945
(37,836)
18,109
$
$
$
$
December 31, 2022
(288,460)
(28,698)
5,312
20,043
4,206
34,975
446,339
5,172
34,386
233,275
December 31, 2022
125,291
$
$
$
(46,925)
78,366 $
March 31, 2023
(328,674)
(37,948)
5,885
(11,372)
6,845
35,220
314,931
15,926
813
March 31, 2023
151,102
(47,630)
103,472
'Restructuring charges were composed primarily of severance and related charges of $91 million and $6 million in Q3 2022 and Q4 2022, respectively, 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.
2Adjusted 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.
³Free 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.
Numbers throughout presentation may not foot due to rounding.
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