Exhibit 99.1

Snap Inc. Announces Third Quarter 2018 Financial Results

 

Revenue increased 43% to a record $298 million

Trailing twelve months revenue increased 53% to $1.1 billion

SANTA MONICA, Calif. – October 25, 2018 – Snap Inc. (NYSE: SNAP) today announced financial results for the quarter ended September 30, 2018.

Financial Highlights

 

Operating cash flow improved by $61 million to $(133) million in Q3 2018, compared to the prior year.

 

Free Cash Flow improved by $61 million to $(159) million in Q3 2018, compared to the prior year.

 

Common shares outstanding plus shares underlying stock-based awards totaled 1,476 million at September 30, 2018, compared with 1,441 million one year ago.

 

Revenue increased 43% to a record $298 million and trailing twelve months revenue increased 53% to $1.1 billion, compared to the prior year.

 

Operating loss improved $138 million to $(323) million in Q3 2018, compared to the prior year.

 

Net loss improved $118 million to $(325) million in Q3 2018, compared to the prior year.

 

Adjusted EBITDA loss improved $41 million to $(138) million in Q3 2018, compared to the prior year.

“We’re investing in long-term growth opportunities and driving operational efficiencies,” said Tim Stone, Snap CFO. “We achieved record revenue and strong bottom-line results this quarter and expect a record fourth quarter, as we continue to invest in innovation for our community and scale our business.”

 

 

Three Months Ended September 30,

 

 

Percent

 

 

Nine Months Ended September 30,

 

 

Percent

 

 

2017

 

 

2018

 

 

Change

 

 

2017

 

 

2018

 

 

Change

 

(Unaudited)

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash used in operating activities

$

(194,013

)

 

$

(132,543

)

 

 

(32

)%

 

$

(558,584

)

 

$

(563,870

)

 

 

(1

)%

Free Cash Flow

$

(219,961

)

 

$

(158,828

)

 

 

28

%

 

$

(621,890

)

 

$

(661,371

)

 

 

(6

)%

Common shares outstanding plus shares underlying stock-based awards

 

1,441,300

 

 

 

1,476,019

 

 

 

2

%

 

 

1,441,300

 

 

 

1,476,019

 

 

 

2

%

Operating loss

$

(461,827

)

 

$

(323,371

)

 

 

(30

)%

 

$

(3,124,612

)

 

$

(1,073,743

)

 

 

(66

)%

Revenue

$

207,937

 

 

$

297,695

 

 

 

43

%

 

$

539,256

 

 

$

790,624

 

 

 

47

%

Net loss

$

(443,159

)

 

$

(325,148

)

 

 

(27

)%

 

$

(3,095,089

)

 

$

(1,064,243

)

 

 

(66

)%

Adjusted EBITDA

$

(178,901

)

 

$

(138,377

)

 

 

23

%

 

$

(561,134

)

 

$

(525,274

)

 

 

6

%

Diluted net loss per share attributable to common shareholders

$

(0.36

)

 

$

(0.25

)

 

 

(31

)%

 

$

(2.71

)

 

$

(0.83

)

 

 

(69

)%

Non-GAAP diluted net loss per share

$

(0.14

)

 

$

(0.12

)

 

 

(13

)%

 

$

(0.49

)

 

$

(0.43

)

 

 

(11

)%

 

Community and Engagement Highlights

 

 

Our community grew 5% year-over-year to 186 million Daily Active Users. DAUs were down 1% compared to the prior quarter.

 

We launched Snap Original Shows and the debut of serialized Shows, our first slate of exclusive scripted Shows and docuseries.

 

In Q3, 21 unique Shows in Discover reached a monthly active audience of over 10 million viewers.

 

CBS’ Snapchat Show “James Corden’s Next James Corden” won two Emmy awards: Outstanding Short Form Comedy or Drama Series and Outstanding Actor in a Short Form Comedy or Drama Series.

 

We announced partner curated Our Stories and added over 25 media partners to increase the volume and variety of content available in Discover on Snapchat. Partners include CNN, digital brands like Overtime, and longtime partners like Hearst.

 


The following information was filed by Snap Inc (SNAP) on Thursday, October 25, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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