Snap Inc. (NYSE:SNAP) Q3 2018 Earnings Conference Call Transcript

Oct 25, 2018 • 05:00 pm ET


Snap Inc. (NYSE:SNAP) Q3 2018 Earnings Conference Call Transcript


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Good afternoon, everyone and welcome to Snap Inc.'s Third Quarter 2018 Earnings Call. At this time, all participants are in a listen-only mode. After the prepared remarks, there will be a question-and-answer session. (Operator Instructions) This call is being recorded.

Thank you very much. Ms. Kristin Southey of IR, you may begin.

Kristin Southey

Thank you and good afternoon everyone. Welcome to Snap's Third Quarter 2018 Earnings Conference Call. With us today are Evan Spiegel, CEO and Co-Founder and Tim Stone, CFO. Earlier today, we made a slide presentation available that provides an overview of our user and financial metrics for the third quarter of 2018, which can be found on our Investor Relations website.

(Forward-Looking Cautionary Statements)

Our commentary today will also include non-GAAP financial measures. And we believe that the use of these non-GAAP financial measures provides an additional tool for Investors to use in evaluating ongoing operating results and trends. These measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.

Reconciliations between GAAP and non-GAAP metrics for our reported results can be found in our press release issued today, a copy of which can be found on our website at Please note that when we discuss all of our expense figures, they will exclude stock-based compensation and related payroll taxes, as well as depreciation and amortization and non-recurring charges.

At times in our prepared remarks or in response to questions, we may offer additional metrics to provide greater insight into our business or our quarterly and annual results. This additional detail may be one-time in nature, and we may or may not provide an update in the future on these metrics. Please refer to our filings with the SEC to understand how we calculate our metrics.

With that, I'd like to turn the call over to Evan.

Evan Spiegel

Hi, everyone and welcome to our quarterly earnings call. We recently celebrated our seventh anniversary and I wanted to share some highlights of where we are today and how we plan to drive growth and profitability in the future. Through the hard work, dedication and innovation of our team, today, we have one of the largest and most engaged mobile communities in the world. We have grown our community and engagement because we are different. We are the fastest way to visually communicate with close friends and family. We built Snapchat shots from the ground up to empower people to express themselves instantly through our camera, resulting in over 3 billion snaps created every day.

We're a fun place to learn about the world on our discover content platform. We have built a premium mobile content experience that complements content created by your friends and we are built for mobile. We believe that mobile devices present unique opportunities like communicating visually and we are excited about the future of innovation on mobile platforms. We have attracted a large and loyal community, because our core visual communication product is built to support