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  "documentTitle": "Snap Inc | Results Presentation Deck | 20 slides",
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  "authorName": "Snap Inc.",
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  "presentationDate": "2022-10-01 00:00:00",
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  "notes": "Includes a yellow callout box at the bottom highlighting specific TTM and cash flow figures.",
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      "text": "TRAILING TWELVE MONTHS ADJUSTED EBITDA WAS $471 MILLION\nFREE CASH FLOW WAS $18 MILLION IN Q3 2022, WHICH INCLUDES THE IMPACT OF $53 MILLION CASH PAID FOR RESTRUCTURING ACTIVITIES",
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      "text": "Revenue: Revenue increased 6% YoY to $1,128 million in Q3 2022. Average revenue per user was $3.11 in Q3 2022, compared to $3.49 in Q3 2021.",
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      "text": "Cash: Operating cash flow was $56 million in Q3 2022, compared to $72 million in Q3 2021. Free Cash Flow was $18 million in Q3 2022, compared to $52 million in Q3 2021. Cash, cash equivalents, and marketable securities were $4.4 billion as of September 30, 2022.",
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      "text": "Operating Performance: Operating margin was (39)% in Q3 2022, compared to (17)% in Q3 2021. Adjusted gross margin improved to 61% in Q3 2022, compared to 60% in Q3 2021. Net loss was $360 million in Q3 2022, including restructuring charges of $155 million, compared to $72 million in Q3 2021. Adjusted EBITDA was $73 million in Q3 2022, compared to $174 million in Q3 2021. Adjusted EBITDA margin was 6% in Q3 2022, compared to 16% in Q3 2021.",
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      "kind": "source-note",
      "text": "We define adjusted gross margin as GAAP revenue less adjusted cost of revenue... Quarterly information is unaudited. Numbers throughout presentation may not foot due to rounding.",
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      "text": "Third Quarter Financial Summary",
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