Snap Inc. Announces Third Quarter 2021 Financial Results

Daily Active Users increased 23% year-over-year to 306 millionRevenue increased 57% year-over-year to $1,067 millionNet loss improved 64% and Adjusted EBITDA improved 209% year-over-yearSANTA MONICA, Calif., October 21, 2021–(BUSINESS WIRE)–Snap Inc. (NYSE: SNAP) today announced financial results for the quarter ended September 30, 2021.Financial HighlightsRevenue increased 57% to $1,067 million in Q3 2021, compared to the prior year.Net loss improved 64% to $(72) million in Q3 2021, compared to the prior year.Adjusted EBITDA improved 209% to $174 million in Q3 2021, compared to the prior year.Operating cash flow was $72 million in Q3 2021, compared to $(55) million in the prior year.Free Cash Flow was $52 million in Q3 2021, compared to $(70) million in the prior year.Common shares outstanding plus shares underlying stock-based awards totaled 1,698 million at September 30, 2021, compared to 1,624 million one year ago.”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…
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