horizontal and vertical 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 cquivalents Cash and cash equivalents, beginning of period Cash and chish 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) 0 (100,942) (1.021,334) 60 (1.000) 651,306 0 0 0 650,366 242.802 398,008 640,810 731 (10,593) 1,157,147 5.000 (5,000) (5,395) 1.141.890 (490,689) 640.810 150.121 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 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 cquivalents Cash and cash equivalents, beginning of period Cash and chish 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) 0 (100,942) (1.021,334) 60 (1.000) 651,306 0 0 0 650,366 242.802 398,008 640,810 731 (10,593) 1,157,147 5.000 (5,000) (5,395) 1.141.890 (490,689) 640.810 150.121 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 Balance Sheet o Cash Flow Step #3 (As a class, with my instruction): Company Specific Average Trend Analysis
