company specific average, trend analysis
Quarter Ending Mar 14 June 14 Sept 14 Dec 14 Mar 15 June 15 Sept 15 Dec 13 Mar 16 June 16 Sept 16 Dec 16 Snap Inc. Company Metrics Daily Active Users Revenue Total North America Europe Rest of World Total North America Europe Rest of World 50,000,000 27,000,000 16,000,000 7,000,000 SO SO SO SO 59,000,000 31,000,000 19,000,000 10,000,000 SO SO SO SO 65,000,000 32,000,000 21.000.000 12,000,000 SO SO SO SO 74.000.000 36,000,000 24,000,000 15,000,000 SO SO SO SO 81,000,000 38,000,000 27.000.000 16,000,000 $3.920,000 53.911,000 $9.000 50 89,000,000 41,000,000 29,000,000 20,000,000 $5,300,000 $5,216,000 $79,000 S5,000 99,000,000 46,000,000 31,000,000 22,000,000 $16,725,000 $15.859.000 $860,000 S6,000 110,000,000 50,000,000 35,000,000 26,000,000 $32.718,000 $31.364,000 S1,257.000 $97.000 130,000,000 57,000,000 42.000.000 32.000.000 $38.798,000 $35.898.000 $2.702,000 $198.000 148,000,000 63.000.000 48.000.000 37,000,000 $71.798.000 $65.219,000 S6,236,000 $343,000 154,000,000 66,000,000 50,000,000 38,000,000 $128.204.000 $114.755.000 $11.791,000 $1.658,000 161,000,000 69,000,000 53,000,000 39,000,000 $165,682,000 $145,356,000 $14,665.000 $5,661,000 Step #1 (On your own): Repeat Horizontal Analysis similar to last week for: o P&L o Balance Sheet o Cash Flow Step #2 (As a class, with my instruction): Vertical Common-Size Analysis o Use of the absolute cell reference function ($ or F4 on a Windows machine) o P&L o Balance Sheet o Cash Flow Step #3 (As a class, with my instruction): Company Specific Average Trend Analysis Snap Inc. Cash Flows All numbers in thousands 2015 2016 (372.893) (514,643) 15,307 73.524 (7.700) 626 29,115 31,842 (7,952) 889 (41.905) (6,590) (4.451) (6,724) 40,026 4.158 (306,622) (118,434) (20,521) (5,064) 6,486 (19.728) 6,765 (611,245) Cash flows from operating activities Net loss Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization Stock-based compensation Deferred income taxes Other Change in operating assets and liabilities, net of effect of acquisitions: Accounts receivable, net of allowance Prepaid expenses and other current assets Other assets Accounts payable Accrued expenses and other current liabilities Other liabilities Net cash used in operating activities Cash flows from investing activities Purchases of property and equipment Purchases of intangible assets Non-marketable investments Cash paid for acquisitions, net of cash acquired Issuance of notes receivable from officers/stockholders Repayment of notes receivables from officers/stockholders Purchases of marketable securities Sales of marketable securities Maturities of marketable securities Change in restricted cash Other investing activities Net cash used in investing activities Cash flows from financing activities Proceeds from the exercise of stock options Repurchase of Class B voting common stock Proceeds from issuances of preferred stock, net of issuance costs Borrowings from revolving credit facility Principal payments on revolving credit facility Payments of deferred offering costs Net cash provided by financing activities Change in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and chsh equivalents, end of period (19,205) (66,441) (9.100) (572) (9,551) (6,513) (48,730) (104.001) (7,500) (15,000) 0 15,000 0 (1.565.347) 0 195,898 0 532,690 (1.856) (7,048) (5.000) (100.942) (1.021,334) 60 (1.000) 651,306 0 0 731 (10.593) 1.157,147 5,000 (5,000) (5,395) 1.141.890 (490,689) 640,810 150.121 0 650,366 242,802 398,008 640.810 Snap Inc. Balance Sheet All numbers in thousands 2015 2016 Assets Current assets Cash and cash equivalents Marketable securities Accounts receivable, net of allowance Prepaid expenses and other current assets Total current assets Property and equipment, net Intangible assets, net Goodwill Other assets Total assets 640,810 0 44,325 7,429 692,564 44,079 43,230 133,944 25,119 938,936 150,121 837,247 162,659 29.958 1,179,985 100,585 75,982 319,137 47,103 1.722.792 Liabilities and Stockholders' Equity Current liabilities Accounts payable Accued expenses and other current liabilities Total current liabilities Other liabilities Total liabilities 702 155,556 156,258 18,533 174,791 8,419 148,325 156,744 47,134 203,878 Commitments and contingencies (Note 8) Stockholders' equity Common Non-Voting Stock Notes receivable from officers/stockholders Additional paid-in capital Accumulated other comprehensive income (loss) Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity 9 10 (10,000) 0 1,467,355 2,728,823 0 (2,057) (693,219) (1,207,862) 764,145 1,518.914 938,936 1,722,792 Snap Inc. Balance Sheet All numbers in thousands 2015 2016 Revenue 58,663 404,482 | Cost of revenue (COGS) 182,341 451,660 Gross Revenue (123,678) (47,178) Costs and expenses: Research and development 82,235 183,676 Sales and marketing 27,216 124,371 General and administrative 148,600 165,160 Tofal costs and expenses 258,051 473,207 Loss from operations (381,729) (520,385) Miscellaneous Income and Expenses Interest income 1,399 4,654 Interest expense 0 (1,424) Other income (expense), net (152) (4,568) Loss before income taxes (380,482) (521,723) Income tax benefit (expense) 7,589 7,080 Net loss (372,893)| (514,643)
