Snap (Snapchat) (SNAP) Financials

$13.5 B

Mkt cap, 25-May-2018

$230.7 M

Revenue Q1, 2018
Gross profit (Q1, 2018)33.9 M
Gross profit margin (Q1, 2018), %14.7%
Net income (Q1, 2018)-385.8 M
EBIT (Q1, 2018)-392.5 M
Cash, 31-Mar-2018466.3 M

Revenue/Financials

Income Statement

Annual

USDFY, 2015FY, 2016FY, 2017

Revenue

58.7 m404.5 m824.9 m

Revenue growth, %

590%104%

Cost of goods sold

182.3 m451.7 m717.5 m

Gross profit

(123.7 m)(47.2 m)107.5 m

Gross profit Margin, %

(211%)(12%)13%

Sales and marketing expense

27.2 m124.4 m522.6 m

R&D expense

82.2 m183.7 m1.5 b

General and administrative expense

148.6 m165.2 m1.5 b

Operating expense total

258.1 m473.2 m3.6 b

Depreciation and amortization

15.3 m29.1 m

EBITDA

(292.9 m)(459.4 m)

EBITDA margin, %

(499%)(114%)

EBIT

(381.7 m)(521.6 m)(3.5 b)

EBIT margin, %

(651%)(129%)(423%)

Interest expense

1.4 m3.5 m

Interest income

1.4 m4.7 m21.1 m

Pre tax profit

(380.5 m)(521.6 m)(3.5 b)

Income tax expense

7.6 m7.1 m(18.3 m)

Net Income

(372.9 m)(514.6 m)(3.4 b)

Balance Sheet

Annual

USDFY, 2015FY, 2016FY, 2017

Cash

640.8 m150.1 m334.1 m

Accounts Receivable

44.3 m162.7 m279.5 m

Prepaid Expenses

7.4 m30 m44.3 m

Current Assets

692.6 m1.2 b2.4 b

PP&E

44.1 m100.6 m166.8 m

Goodwill

133.9 m319.1 m639.9 m

Total Assets

938.9 m1.7 b3.4 b

Accounts Payable

702 k8.4 m71.2 m

Current Liabilities

156.3 m156.7 m346.3 m

Non-Current Liabilities

18.5 m47.1 m83 m

Total Liabilities

174.8 m203.9 m429.2 m

Additional Paid-in Capital

1.5 b2.7 b7.6 b

Retained Earnings

(693.2 m)(1.2 b)(4.7 b)

Total Equity

764.1 m1.5 b3 b

EPS

(0.5 )(0.1 )(3 )

Financial Leverage

1.2 x1.1 x1.1 x

Quarterly

USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

1.4 b501.7 m317.6 m466.3 m

Accounts Receivable

147.7 m171.5 m195 m231.4 m

Prepaid Expenses

73 m77.8 m54.7 m58.5 m

Current Assets

3.5 b3 b2.5 b2.1 b

PP&E

116.1 m128 m143.1 m191 m

Goodwill

332.2 m502.8 m612.8 m645.7 m

Total Assets

4 b3.9 b3.5 b3.2 b

Accounts Payable

13.8 m17.8 m15.2 m28.6 m

Current Liabilities

242.3 m258.3 m296.2 m301.4 m

Non-Current Liabilities

64 m76.3 m361.6 m

Total Liabilities

306.3 m334.6 m367.1 m390.2 m

Additional Paid-in Capital

7.2 b7.4 b7.5 b7.8 b

Retained Earnings

(3.4 b)(3.9 b)(4.3 b)(5 b)

Total Equity

3.7 b3.5 b3.2 b2.8 b

EPS

(2.3 )(0.4 )(0.4 )(0.3 )

Financial Leverage

1.1 x1.1 x1.1 x1.1 x

Cash Flow

Annual

USDFY, 2015FY, 2016FY, 2017

Net Income

(372.9 m)(514.6 m)(3.4 b)

Depreciation and Amortization

15.3 m29.1 m61.3 m

Accounts Receivable

(41.9 m)(118.4 m)(104.4 m)

Accounts Payable

(6.7 m)6.5 m49.7 m

Cash From Operating Activities

(306.6 m)(611.2 m)(734.7 m)

Purchases of PP&E

(19.2 m)(66.4 m)(84.5 m)

Cash From Investing Activities

(100.9 m)(1 b)(1.3 b)

Cash From Financing Activities

650.4 m1.1 b2.3 b

Net Change in Cash

242.8 m(490.7 m)183.9 m

Income Taxes Paid

3 k1.7 m6.2 m

Quarterly

USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

(104.6 m)(220.5 m)(344.7 m)(2.2 b)(2.7 b)(3.1 b)(385.8 m)

Depreciation and Amortization

5 m11 m18.5 m12.5 m25 m42.5 m21.6 m

Accounts Receivable

(7.2 m)(24 m)(78.5 m)13.4 m(8.2 m)(24.5 m)48.7 m

Accounts Payable

47 k(240 k)1.7 m5.6 m9.3 m4.1 m(37.1 m)

Cash From Operating Activities

(92.5 m)(226.7 m)(443.5 m)(155 m)(364.6 m)(558.6 m)(232 m)

Purchases of PP&E

(12.5 m)(28.9 m)(46.1 m)(18 m)(37.4 m)(63.3 m)(36.3 m)

Cash From Investing Activities

(225.5 m)(983.3 m)(1.1 b)(1 b)(1.7 b)(1.6 b)319.2 m

Cash From Financing Activities

192.2 m1.2 b1.1 b2.4 b2.4 b2.3 b45.3 m

Net Change in Cash

(125.8 m)(52.8 m)(437.4 m)1.3 b351.6 m167.4 m132.5 m

Income Taxes Paid

4 k4 k4 k3.5 m5.5 m5.4 m991 k

Ratios

USDY, 2018

Revenue/Employee

94.7 k

Financial Leverage

1.1 x

P/E Ratio

(35.7 )
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Operating Metrics

Snap (Snapchat)'s Daily Active Users was reported to be 191 m in Q1, 2018. Snap (Snapchat)'s Monthly Active Users was reported to be 255 m in May, 2017.
Q1, 2014Q2, 2014Q3, 2014Q4, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017May, 2017Q2, 2017Q3, 2017Oct, 2017Q4, 2017Q1, 2018

Daily Active Users

46 m57 m62 m71 m80 m86 m94 m107 m122 m143 m153 m158 m166 m173 m178 m187 m191 m

Quarterly ARPU

$0.31 $0.32 $0.50 $0.84 $1.05 $0.90 $1.05 $1.17 $1.53 $1.21

Hosting Costs per Daily Active Users

$0.52 $0.72

Snaps per Day

2.50 b3 b3.50 b3 b

Daily Video Views

10 b

Snaps per Second

9 k

Monthly Active Users

301 m255 m

Daily Active Users (Europe)

39 m46 m49 m52 m55 m57 m57 m60 m62 m

Daily Active Users (North America)

54 m61 m65 m68 m71 m75 m77 m80 m81 m

Daily Active Users (Rest of World)

29 m36 m39 m39 m40 m42 m44 m47 m48 m

Quarterly ARPU (Europe)

$0.07 $0.14 $0.24 $0.28 $0.24 $0.39 $0.48 $0.66 $0.53

Quarterly ARPU (US & Canada)

$0.67 $1.06 $1.76 $2.15 $1.81 $1.97 $2.17 $2.75 $2.10

Quarterly ARPU (Rest of World)

$0.01 $0.01 $0.04 $0.15 $0.19 $0.29 $0.30 $0.56 $0.58

Spectacles Sold

34.60 k41.50 k150 k

Average Revenue per Daily Active User

$0.32
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Human Capital

Snap (Snapchat)'s employees are reported to be approximately 38% female and 62% male.

Ethnicity

Y, 2017
Hispanic6 %
White51 %
Asian32 %
Other11 %

Gender

Y, 2017
Female38 %
Male62 %

Job Roles

Q4, 2013
Male Engineers, percent84.6 %
Female Engineers, percent15.4 %
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