Snap Inc Results Presentation Deck
Net Income (Loss) & Adjusted EBITDA¹
(dollars in millions, unaudited)
NET INCOME (LOSS)
Net Income (Loss) Margin
Q2'21
(15)%
$(152)
Q3'21
33%
(7)%
$(72)
Q4'21
33%
$23
2%
Q1'22
35%
I
(34)%
$(360)
Q2'22
(25)%
(38)%
$(422)
Q3'22
(210)%
(32)%
$(360)
(471)%
Adjusted
EBITDA
Leverage4
"We define Adjusted EBITDA leverage as the year-over-year change in Adjusted EBITDA divided by the year-over-year change in GAAP revenue.
Numbers throughout presentation may not foot due to rounding.
ADJUSTED EBITDA ¹
Q2'21
$117
12%
Adjusted EBITDA Margin²
40%
Q3'21
$174
16%
Q4'21
$327
30%
25%
Net Income
(Loss)
Leverage³
¹We 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; 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. In Q3 2022, non-recurring items included restructuring charges of $155 million. See Appendix for reconciliation of net loss to Adjusted EBITDA.
2 We define Adjusted EBITDA margin as Adjusted EBITDA divided by GAAP revenue.
3We define Net Income (Loss) leverage as the year-over-year change in Net Income (Loss) divided by the year-over-year change in GAAP revenue.
42%
Q1'22
ADJUSTED EBITDA WAS $73 MILLION IN Q3 2022
TRAILING TWELVE MONTHS ADJUSTED EBITDA WAS $471 MILLION
$64
6%
Q2'22
23%
$7
1%
Q3'22
(86)%
$73
6%
(166)%
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