Snap Inc. (NYSE: SNAP) Announces Third Quarter 2020 Financial Results

 

Snap Inc. (NYSE: SNAP) today announced financial results for the
quarter and full year ended December 31, 2020. Revenue increased 52% to $679 million in Q3 2020, compared to the prior year. Net loss was $(200) million in Q3 2020, compared to $(227) million in the prior year. Adjusted EBITDA was $56 million in Q3 2020, compared to $(42) million in the prior year

• Operating cash flow improved by $14 million to $(53) million in Q4 2020, compared to the prior year.

• Free Cash Flow improved by $7 million to $(69) million in Q4 2020, compared to the prior year.

• Common shares outstanding plus shares underlying stock-based awards totaled 1,630 million at December 31, 2020, compared to 1,576 million one year ago.

• Revenue increased 62% to $911 million in Q4 2020, compared to the prior year.

• Net loss and Adjusted EBITDA were $(113) million and $166 million in Q4 2020, respectively, compared to $(241) million and $42 million in the prior year, respectively.

• Net loss and Adjusted EBITDA were $(945) million and $45 million in 2020, respectively, compared to$(1.0) billion and $(202) million in the prior year, respectively.

 

We’re grateful for the opportunity to serve our community and partners through this challenging period of time,” said Evan Spiegel, CEO. “Our team has worked tirelessly to help people stay close with their friends and family even while they are physically apart, and we’re proud of the strong results we delivered for our advertising partners this quarter and over the full year. We delivered our first full year of Adjusted EBITDA profitability and, as we look towards the future, we’re excited to build on our investments in augmented reality, mapping, and content to drive our ongoing growth.

Snap Inc. provides technology and social media services. The Company’s principal product Snapchat, is a camera application that helps people to communicate through short videos and images. Snap Inc. is headquartered in Venice, California.

 

 

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