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Press Release: Snap Inc. Announces Fourth Quarter -5-

· 02/04/2021 16:10
CONTACT: Investors and Analysts:equipment $ (7,938) $ (9,093) $ (10,891) $ (15,767) $ (14,727) $ (16,447) Purchases of property and equipment - YoY (70)% (60)% (8)% 107% 86% 81% Purchases of property and equipment - TTM $ (50,126) $ (36,478) $ (35,555) $ (43,689) $ (50,478) $ (57,832) Free Cash Flow $ (84,087) $ (75,935) $ (4,608) $ (82,321) $ (69,555) $ (68,992) Free Cash Flow - YoY 47% 49% 94% 20% 17% 9% Free Cash Flow - TTM $ (414,296) $ (341,436) $ (268,052) $ (246,951) $ (232,419) $ (225,476) Common shares outstanding 1,389,395 1,415,796 1,439,589 1,463,620 1,484,716 1,503,333 Common shares outstanding - YoY 8% 7% 8% 7% 7% 6% Shares underlying stock-based awards 175,813 160,239 149,004 152,526 138,914 126,287 Shares underlying stock-based awards - YoY (5)% (15)% (29)% (16)% (21)% (21)% Total common shares outstanding plus shares underlying stock-based awards 1,565,208 1,576,035 1,588,593 1,616,146 1,623,630 1,629,620 Total common shares outstanding plus shares underlying stock-based awards - YoY 6% 5% 3% 4% 4% 3% Results of Operations Revenue $ 446,199 $ 560,889 $ 462,478 $ 454,158 $ 678,668 $ 911,322 Revenue - YoY 50% 44% 44% 17% 52% 62% Revenue - TTM $ 1,544,468 $ 1,715,535 $ 1,857,586 $ 1,923,723 $ 2,156,192 $2,506,626 Revenue by region(1) North America $ 316,028 $ 382,029 $ 315,650 $ 306,740 $ 492,928 $ 659,163 North America - YoY 52% 42% 40% 18% 56% 73% North America - TTM $ 1,070,608 $ 1,183,779 $ 1,273,724 $ 1,320,447 $ 1,497,347 $1,774,481 Europe $ 68,553 $ 91,873 $ 76,498 $ 78,635 $ 102,480 $ 141,608 Europe - YoY 36% 47% 61% 30% 49% 54% Europe - TTM $ 239,104 $ 268,507 $ 297,557 $ 315,559 $ 349,486 $ 399,221 Rest of World $ 61,618 $ 86,987 $ 70,330 $ 68,783 $ 83,260 $ 110,551 Rest of World - YoY 55% 49% 49% 2% 35% 27% Rest of World - TTM $ 234,760 $ 263,252 $ 286,308 $ 287,717 $ 309,359 $ 332,924 Operating loss $ (228,853) $ (253,596) $ (286,364) $ (310,608) $ (167,864) $ (97,236) Operating loss - YoY (29)% 30% (9)% 2% (27)% (62)% Operating loss - Margin (51)% (45)% (62)% (68)% (25)% (11)% Operating loss - TTM $(1,044,439) $(1,103,328) $(1,073,631) $(1,079,421) $(1,018,432) $ (862,072) Net loss $ (227,375) $ (240,704) $ (305,936) $ (325,951) $ (199,853) $ (113,099) Net loss - YoY (30)% 26% (1)% 28% (12)% (53)% Net loss - TTM $ (984,624) $(1,033,660) $(1,029,189) $(1,099,966) $(1,072,444) $ (944,839) Adjusted EBITDA (42,375) 42,307 (81,237) (95,570) 56,361 165,609 Adjusted EBITDA - YoY 69% 184% 34% (21)% 233% 291% Adjusted EBITDA - Margin(2) (9)% 8% (18)% (21)% 8% 18% Adjusted EBITDA - TTM $ (294,900) $ (202,230) $ (160,018) $ (176,875) $ (78,139) $ 45,163 (1) Total revenue for geographic reporting is apportioned to each region based on our determination of the geographic location in which advertising impressions are delivered, as this approximates revenue based on user activity. This allocation is consistent with how we determine ARPU. (2) We define Adjusted EBITDA margin as Adjusted EBITDA divided by GAAP revenue. SNAP INC. SUPPLEMENTAL FINANCIAL INFORMATION AND BUSINESS METRICS (continued) (dollars and shares in thousands, except per user amounts below, unaudited) Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 -------- -------- -------- -------- -------- -------- Other DAU (in millions) 210 218 229 238 249 265 DAU - YoY 13% 17% 20% 17% 18% 22% DAU by region (in millions) North America 84 86 88 90 90 92 North America - YoY 6% 9% 10% 9% 7% 6% Europe 65 67 70 71 72 74 Europe - YoY 9% 12% 14% 12% 10% 10% Rest of World 61 64 71 77 87 99 Rest of World - YoY 28% 36% 45% 37% 43% 55% ARPU $ 2.12 $ 2.58 $ 2.02 $ 1.91 $ 2.73 $ 3.44 ARPU - YoY 33% 23% 20% -- 28% 33% ARPU by region North America $ 3.75 $ 4.42 $ 3.57 $ 3.40 $ 5.49 $ 7.19 North America - YoY 43% 31% 27% 8% 46% 63% Europe $ 1.05 $ 1.37 $ 1.09 $ 1.10 $ 1.43 $ 1.91 Europe - YoY 24% 31% 41% 16% 36% 39% Rest of World $ 1.01 $ 1.35 $ 1.00 $ 0.89 $ 0.95 $ 1.11 Rest of World - YoY 21% 9% 3% (26)% (6)% (18)% Employees (full-time; excludes part-time, contractors, and temporary personnel) 2,908 3,195 3,427 3,550 3,713 3,863 Employees - YoY 0% 11% 22% 30% 28% 21% Depreciation and amortization expense Cost of revenue $ 4,580 $ 4,903 $ 5,525 $ 5,532 $ 5,615 $ 5,533 Research and development 8,632 8,738 8,915 8,463 9,526 10,723 Sales and marketing 3,109 3,087 3,166 3,381 3,233 3,136 General and administrative 4,325 3,892 3,598 3,549 3,430 3,419 ------- ------- ------- ------- ------- ------- Total $ 20,646 $ 20,620 $ 21,204 $ 20,925 $ 21,804 $ 22,811 ------- ------- ------- ------- ------- ------- Depreciation and amortization expense - YoY (17)% (9)% (9)% (8)% 6% 11% Stock-based compensation expense Cost of revenue $ 1,332 $ 1,398 $ 1,782 $ 2,066 $ 2,623 $ 2,896 Research and development 108,176 111,611 118,317 127,516 132,003 155,436 Sales and marketing 23,333 25,788 24,806 27,107 27,393 28,964 General and administrative 28,387 27,858 27,144 29,482 30,061 32,586 ------- ------- ------- ------- ------- ------- Total $161,228 $166,655 $172,049 $186,171 $192,080 $219,882 ------- ------- ------- ------- ------- ------- Stock-based compensation expense - YoY 27% 37% 6% (5)% 19% 32%

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Press:

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(END) Dow Jones Newswires

February 04, 2021 16:10 ET (21:10 GMT)