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  "documentTitle": "Snap Inc | Investor Presentation Deck | 21 slides",
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  "authorName": "Snap Inc.",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-08-01 00:00:00",
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  "notes": "Includes specific financial targets for cost reductions and transition costs.",
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      "text": "1 The charges that we expect to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ materially from the estimates disclosed above.\n2 Cash cost structure refers to total cost of revenue plus total operating expenses less non cash expenses such as stock based compensation, depreciation, and amortization.\n3 Adjusted operating expenses exclude stock based compensation, depreciation, and amortization.",
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      "text": "Quarter-to-date revenue growth is approximately 8% year-over-year\nForward looking revenue visibility remains limited given uncertainty in the macro environment\n$500 million estimated reduction in the annualized cash cost structure relative to Q2'22:\n$50 million estimated reduction in fixed content costs within cost of revenue\n$450 million estimated reduction in adjusted operating expenses inclusive of personnel and other opex cost reductions\nEstimated transition costs of approximately $110 to $175 million, with approximately $95 to $135 million expected to be incurred within adjusted operating expenses, and the majority expected to be incurred within Q3'22\nFocused on delivering adjusted EBITDA and positive free cash flow at current revenue levels:\nReduced fixed content costs expected to be fully implemented by end of 2022\nDisciplined management of adjusted operating costs to drive meaningful operating leverage when revenue growth accelerates",
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