We introduced the Snap 3D Asset Manager, a web content management platform for businesses to manage their 3D product catalog, facilitating the AR Lens creation process. We launched Lens Cloud, a collection of backend services that expands the types of AR experiences developers can create. We released our latest version of Lens Studio, which introduces several features to improve Lens capabilities around ray tracing, lighting, shadows, reflections, and depth and expands our API library and Lens Analytics offerings. We invested in our augmented reality platform: The Snapchat community is active, engaged, and growing:ĭAUs were 347 million in Q2 2022, an increase of 54 million, or 18%, year-over-year.ĭAUs increased sequentially and year-over-year in each of North America, Europe, and Rest of World. See page 12 for reconciliation of diluted net (loss) income per share to non-GAAP diluted net (loss) income per share. See page 11 for reconciliation of net cash provided by operating activities to Free Cash Flow. See page 11 for reconciliation of net loss to Adjusted EBITDA. Non-GAAP diluted net (loss) income per share (3)Ĭommon shares outstanding plus shares underlying stock-based awards Net cash provided by (used in) operating activitiesĭiluted net loss per share attributable to common stockholders Operating cash flow was $(124) million, compared to $(101) million in the prior year.įree Cash Flow was $(147) million, compared to $(116) million in the prior year. Net loss was $422 million, compared to $152 million in the prior year.Īdjusted EBITDA was $7 million, compared to $117 million in the prior year. Revenue increased 13% to $1,111 million, compared to the prior year. As of June 30, 2022, Snap had $4.9 billion in cash and cash equivalents, restricted cash, and marketable securities. Repurchases under this program will be funded from existing cash and cash equivalents. The goal of the program is to utilize the company’s strong balance sheet to offset a portion of the dilution related to the issuance of restricted stock units to employees as part of the overall compensation program designed to foster an ownership culture. Repurchases under the program have been authorized for the next 12 months but the program may be modified, suspended, or terminated at any time. The timing and actual number of shares repurchased will depend on a variety of factors, including stock price, trading volume, market and economic conditions, and other general business considerations. Repurchases of the Class A common stock may be made on a discretionary basis from time to time, either through open market transactions (including through Rule 10b5-1 trading plans) or through privately negotiated transactions in accordance with applicable securities laws. also announced today its Board of Directors has authorized a stock repurchase program of up to $500 million of its Class A common stock. "We are evolving our business and strategy to reaccelerate revenue growth, including innovating on our products, investing heavily in our direct response advertising business, and cultivating new sources of revenue to help diversify our topline growth." “While the continued growth of our community increases the long-term opportunity for our business, our financial results for Q2 do not reflect our ambition," said Evan Spiegel, CEO. (NYSE: SNAP) today announced financial results for the quarter ended June 30, 2022. Operating cash flow was $(124) million and Free Cash Flow was $(147) million Revenue increased 13% year-over-year to $1,111 million Daily Active Users increased 18% year-over-year to 347 million
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