Snap announces third-quarter 2021 financial results
Snap Inc. announced results for the third-quarter ended Sept. 30, 2021, included revenues increased 57% to $1,067 million in Q3 2021, compared to the prior year. The net loss improved 64% to $72 million in Q3 2021, compared to 2020.
“Snap celebrated its 10th anniversary this quarter, and we are excited about the long-term opportunity and potential for our business, as we grew our community to 306 million daily active users, and grew our revenue 57% year-over-year to reach $1.067 billion for the quarter,” said Evan Spiegel, CEO. “We’re now operating at the scale necessary to navigate significant headwinds, including changes to the iOS platform that impact the way advertising is targeted, measured, and optimized, as well as global supply chain issues and labor shortages impacting our partners. We will continue to focus on delivering strong results for our advertising partners and innovating to expand the capabilities of our platform and better serve our community.”
For the fourth quarter, the company estimates revenue between $1,165 million and $1,205 million.
|
|
Three Months Ended September 30, |
|
|
Percent |
|
|
Nine Months Ended September 30, |
|
|
Percent |
|
||||||||||||
|
|
2021 |
|
|
2020 |
|
|
Change |
|
|
2021 |
|
|
2020 |
|
|
Change |
|
||||||
|
(Unaudited) |
(in thousands, except per share amounts) |
|
|
|
|
|
|||||||||||||||||
|
Revenue |
$ |
1,067,471 |
|
|
$ |
678,668 |
|
|
|
57 |
% |
|
$ |
2,819,163 |
|
|
$ |
1,595,304 |
|
|
|
77 |
% |
|
Operating loss |
$ |
(180,824 |
) |
|
$ |
(167,864 |
) |
|
|
(8 |
)% |
|
$ |
(676,942 |
) |
|
$ |
(764,836 |
) |
|
|
11 |
% |
|
Net loss |
$ |
(71,959 |
) |
|
$ |
(199,853 |
) |
|
|
64 |
% |
|
$ |
(510,505 |
) |
|
$ |
(831,740 |
) |
|
|
39 |
% |
|
Adjusted EBITDA |
$ |
174,199 |
|
|
$ |
56,361 |
|
|
|
209 |
% |
|
$ |
289,893 |
|
|
$ |
(120,446 |
) |
|
|
341 |
% |
|
Cash provided by (used in) operating activities |
$ |
71,552 |
|
|
$ |
(54,828 |
) |
|
|
231 |
% |
|
$ |
107,352 |
|
|
$ |
(115,099 |
) |
|
|
193 |
% |
|
Free Cash Flow |
$ |
51,716 |
|
|
$ |
(69,555 |
) |
|
|
174 |
% |
|
$ |
62,042 |
|
|
$ |
(156,484 |
) |
|
|
140 |
% |
|
Diluted net loss per share attributable to common stockholders |
$ |
(0.05 |
) |
|
$ |
(0.14 |
) |
|
|
67 |
% |
|
$ |
(0.33 |
) |
|
$ |
(0.58 |
) |
|
|
43 |
% |
|
Non-GAAP diluted net income (loss) per share |
$ |
0.17 |
|
|
$ |
0.01 |
|
|
|
2,089 |
% |
|
$ |
0.27 |
|
|
$ |
(0.16 |
) |
|
|
271 |
% |
|
Common shares outstanding plus shares underlying stock-based awards |
|
1,697,879 |
|
|
|
1,623,630 |
|
|
|
5 |
% |
|
|
1,697,879 |
|
|
|
1,623,630 |
|
|
|
5 |
% |