Exhibit 99.1

Snap Inc. Announces Fourth Quarter and Full Year 2018 Financial Results

 

Fourth quarter revenue increased 36% to a record $390 million

Full year revenue increased 43% to $1.2 billion

Daily Active Users were flat sequentially at 186 million

SANTA MONICA, Calif. – February 5, 2019 – Snap Inc. (NYSE: SNAP) today announced financial results for the quarter and full year ended December 31, 2018.

Financial Highlights

 

Operating cash flow improved by $50 million to $(126) million in Q4 2018, compared to the prior year.

 

Free Cash Flow improved by $49 million to $(149) million in Q4 2018, compared to the prior year.

 

Common shares outstanding plus shares underlying stock-based awards totaled 1,507 million at December 31, 2018, compared with 1,453 million one year ago.

 

Revenue increased 36% to a record $390 million in Q4 2018, compared to the prior year.

 

Operating loss improved $166 million to $(195) million in Q4 2018, compared to the prior year.

 

Net loss improved $158 million to $(192) million in Q4 2018, compared to the prior year.

 

Adjusted EBITDA loss improved $109 million to $(50) million in Q4 2018, compared to the prior year.

“In 2018, we focused on building a foundation to scale the business over the long-term by driving sustainable product innovation, scaling our advertising platform, and hiring the leadership team that will help us achieve our future goals,” said Evan Spiegel, CEO. “We ended the year with user engagement stabilizing and have started rolling out the new version of our Android application to a small percentage of our community. We are substantially closer to achieving profitability, as we have maintained a relatively flat cost structure across the past five quarters while growing full‐year revenue 43 percent year‐over‐year.”

 

  

Three Months Ended December 31,

 

 

Percent

 

 

Year Ended December 31,

 

 

Percent

 

 

2017

 

 

2018

 

 

Change

 

 

2017

 

 

2018

 

 

Change

 

(Unaudited)

(dollars and shares in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash used in operating activities

$

(176,083

)

 

$

(126,054

)

 

 

(28

)%

 

$

(734,667

)

 

$

(689,924

)

 

 

(6

)%

Free Cash Flow

$

(197,295

)

 

$

(148,795

)

 

 

25

%

 

$

(819,185

)

 

$

(810,166

)

 

 

1

%

Common shares outstanding plus shares underlying stock-based awards

 

1,453,004

 

 

 

1,506,623

 

 

 

4

%

 

 

1,453,004

 

 

 

1,506,623

 

 

 

4

%

Operating loss

$

(360,964

)

 

$

(194,707

)

 

 

(46

)%

 

$

(3,485,576

)

 

$

(1,268,450

)

 

 

(64

)%

Revenue

$

285,693

 

 

$

389,822

 

 

 

36

%

 

$

824,949

 

 

$

1,180,446

 

 

 

43

%

Net loss

$

(349,977

)

 

$

(191,668

)

 

 

(45

)%

 

$

(3,445,066

)

 

$

(1,255,911

)

 

 

(64

)%

Adjusted EBITDA

$

(158,922

)

 

$

(50,363

)

 

 

68

%

 

$

(720,056

)

 

$

(575,637

)

 

 

20

%

Diluted net loss per share attributable to common stockholders

$

(0.28

)

 

$

(0.14

)

 

 

(48

)%

 

$

(2.95

)

 

$

(0.97

)

 

 

(67

)%

Non-GAAP diluted net loss per share

$

(0.13

)

 

$

(0.04

)

 

 

(65

)%

 

$

(0.61

)

 

$

(0.47

)

 

 

(23

)%

 


The following information was filed by Snap Inc (SNAP) on Tuesday, February 5, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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