Snap second-quarter revenue increases 116% to nearly $1 billion
“Our second-quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years,” said Evan Spiegel, CEO. “We are pleased by the progress our team is making with the development of our augmented reality platform, and we are energized by the many opportunities to grow our community and business around the world.”
|
|
Three Months Ended June 30, |
|
|
Percent |
|
|
Six Months Ended June 30, |
|
|
Percent |
|
||||||||||||
|
|
2021 |
|
|
2020 |
|
|
Change |
|
|
2021 |
|
|
2020 |
|
|
Change |
|
||||||
|
(Unaudited) |
(in thousands, except per share amounts) |
|
|
|
|
|
|||||||||||||||||
|
Revenue |
$ |
982,108 |
|
|
$ |
454,158 |
|
|
|
116 |
% |
|
$ |
1,751,692 |
|
|
$ |
916,636 |
|
|
|
91 |
% |
|
Operating loss |
$ |
(192,512 |
) |
|
$ |
(310,608 |
) |
|
|
38 |
% |
|
$ |
(496,118 |
) |
|
$ |
(596,972 |
) |
|
|
17 |
% |
|
Net loss |
$ |
(151,664 |
) |
|
$ |
(325,951 |
) |
|
|
53 |
% |
|
$ |
(438,546 |
) |
|
$ |
(631,887 |
) |
|
|
31 |
% |
|
Adjusted EBITDA |
$ |
117,403 |
|
|
$ |
(95,570 |
) |
|
|
223 |
% |
|
$ |
115,694 |
|
|
$ |
(176,807 |
) |
|
|
165 |
% |
|
Cash provided by (used in) operating activities |
$ |
(101,086 |
) |
|
$ |
(66,554 |
) |
|
|
(52 |
)% |
|
$ |
35,800 |
|
|
$ |
(60,271 |
) |
|
|
159 |
% |
|
Free Cash Flow |
$ |
(115,709 |
) |
|
$ |
(82,321 |
) |
|
|
(41 |
)% |
|
$ |
10,326 |
|
|
$ |
(86,929 |
) |
|
|
112 |
% |
|
Diluted net loss per share attributable to common stockholders |
$ |
(0.10 |
) |
|
$ |
(0.23 |
) |
|
|
56 |
% |
|
$ |
(0.29 |
) |
|
$ |
(0.44 |
) |
|
|
35 |
% |
|
Non-GAAP diluted net income (loss) per share |
$ |
0.10 |
|
|
$ |
(0.09 |
) |
|
|
220 |
% |
|
$ |
0.10 |
|
|
$ |
(0.17 |
) |
|
|
158 |
% |
|
Common shares outstanding plus shares underlying stock-based awards |
|
1,681,260 |
|
|
|
1,616,146 |
|
|
|
4 |
% |
|
|
1,681,260 |
|
|
|
1,616,146 |
|
|
|
4 |
% |
Snap also provided a list of recent accomplishments to bolster its announcement:
Camera and augmented reality platforms:
- Improved several try-on capabilities with Lens Studio 4.0, including multi-person 3D body mesh, advanced cloth simulation, and a new visual effects editor for more realistic Lenses.
- Released TrueSize technology to improve eyewear sizing and wrist tracking technology for accurate watch try-ons.
- Introduced several new categories for Scan, including fashion and food, which is already used by more than 170 million Snapchatters every month to identify dog breeds and plants, discover recipes, and shop for clothing.
- Introduced Camera Shortcuts, an easy way for Snapchatters to find the most relevant camera mode, Lens, or even curated soundtrack, right from the Camera screen.
- Introduced Connected Lenses, enabling Snapchatters in different locations to interact with each other through AR.
Partner and developer ecosystem:
- Announced Camera Kit partnerships with Disney, Viber, and Bumble, bringing our Camera and AR capabilities into their applications.
- Announced Snap Kit integrations with YouTube and YouTube Music, allowing users to share YouTube videos to the Snapchat Camera.
- Announced a Bitmoji for Games partnership with Unity, allowing Unity developers to bring 3D Bitmoji avatars into their player experience.
- Released Sticker Kit, which includes over 34 million Bitmojis, Stickers, and GIFs that can be integrated into partner applications.
- Announced Layers, a new feature for the Snap Map enabling Snapchatters to find personalized experiences from select partners right from the Map, such as surfacing saved Memories across the Map and showing nearby restaurants and events.
Advertising capability:
- Rolled out Public Profiles for businesses, allowing any business to create a profile on Snapchat showcasing their Lenses, Highlights, Stories, and shoppable products.
- Announced an integration with Salesforce, allowing brands to leverage their first-party data to reach Snapchatters with relevant ads.
- Launched the Creator Marketplace within our self-serve Ads Manager, connecting advertisers with certified Lens Creators and facilitating the AR development process.
- Introduced API Lenses, which enables businesses to automatically import up-to-date product inventory into AR Lenses without additional work.