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  "documentTitle": "2023 Q1 Shareholder Deck",
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      "text": "The strength we saw exiting 2022 continued into 2023, as nearly all of our Q1 KPIs surpassed expectations.",
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      "text": "¹ Free Cash Flow is a non-IFRS measure. See \"Use of Non-IFRS Measures\" and \"Reconciliation of IFRS to Non-IFRS Results\" for additional information.",
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      "text": "Total Monthly Active Users: 515",
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      "text": "The strength we saw exiting 2022 continued into 2023, as nearly all of our Q1 KPIs surpassed expectations. MAU net additions of 26 million were 15 million above guidance, our highest Q1 ever and the fifth quarter in a row of accelerating Y/Y growth. Subscriber net additions of 5 million also reflected a material uptick vs. the prior year trend and were 3 million above guidance. Revenue growth was slightly below our expectations due to macro-related variability in our advertising business. However, Gross Margin exceeded guidance by 30 bps. The Operating Loss was also better, aided by lower marketing spend, and the business generated €57 million in Free Cash Flow. Overall, we are encouraged by the strong start to 2023.",
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