Snap Inc (SNAP) 10-K Annual Report January 2023

SANTA MONICA, Calif. – January 31, 2023 – Snap Inc. (NYSE: SNAP) today announced financial results for the quarter and full year ended December 31, 2022.

“We ended a challenging 2022 with 375 million Daily Active Users, 12% year-over-year annual revenue growth, and positive full year Free Cash Flow," said Evan Spiegel, CEO. "We continue to face significant headwinds as we look to accelerate revenue growth, and we are making progress driving improved return on investment for advertisers and innovating to deepen the engagement of our community.”

Annual Financial Summary

•Revenue increased 12% to $4.6 billion in 2022, compared to the prior year.

•Net loss was $1,430 million in 2022, including restructuring charges of $189 million, compared to $488 million in 2021.

•Third consecutive year of positive Adjusted EBITDA with $378 million in 2022.

•Second full year of positive operating cash flow and Free Cash Flow of $185 million and $55 million, respectively.

Q4 2022 Financial Summary

•Revenue was $1,300 million, compared to $1,298 million in the prior year.

•Net loss was $288 million, including restructuring charges of $34 million, compared to net income of $23 million in the prior year.

•Adjusted EBITDA was $233 million, compared to $327 million in the prior year.

•Operating cash flow was $125 million, compared to $186 million in the prior year.

•Free Cash Flow was $78 million, compared to $161 million in the prior year.

The following information was filed by Snap Inc (SNAP) on Tuesday, January 31, 2023 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.

ChatGPT says Snapchat Focuses on Growing Community, Revenue, and AR.

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Inside Snap Inc's 10-K Annual Report:

M & A - Other Highlight
Adjusted EBITDA excludes certain recurring, non-cash charges such as depreciation of fixed assets and amortization of acquired intangible assets and, although these are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future; Adjusted EBITDA excludes stock-based compensation expense and payroll and other tax expense related to stock-based compensation, which have been, and will continue to be for the foreseeable future, significant recurring expenses in our business and an important part of our compensation strategy; and Adjusted EBITDA excludes income tax benefit (expense).

Revenue - Product Highlight
Sales and Marketing Expenses Sales and marketing expenses consist primarily of personnel-related costs, including salaries, benefits, commissions, and stock-based compensation expense for our employees engaged in sales and sales support, business development, media, marketing, corporate partnerships, and customer service functions.
Financial - Expense Highlight
Interest Expense 2022 compared to 2021 Interest expense for the year ended December 31, 2022 increased $3.8 million, compared to the same period in 2021 primarily due to increases in amortization of debt issuance costs.
Other - Other Highlight
There are no known material subsequent events that could have a material impact on our cash or liquidity.
Financial - Shares Highlight
Liquidity and Capital Resources Cash, cash equivalents, and marketable securities were $3.9 billion as of December 31, 2022, primarily consisting of cash on deposit with banks and highly liquid investments in U.S. government and agency securities, publicly traded equity securities, corporate debt securities, certificates of deposit, and commercial paper.
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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Snap Inc provided additional information to their SEC Filing as exhibits

Exhibit 4.4: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: SNAP
CIK: 1564408
Form Type: 10-K Annual Report
Accession Number: 0001564408-23-000013
Submitted to the SEC: Tue Jan 31 2023 7:37:41 PM EST
Accepted by the SEC: Wed Feb 01 2023
Period: Saturday, December 31, 2022
Industry: Computer Programming Data Processing