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  "authorName": "Snap Inc.",
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  "presentationDate": "2023-04-01 00:00:00",
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      "text": "FREE CASH FLOW WAS $103 MILLION IN Q1 2023",
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      "text": "Operating margin was (37)% in Q1 2023, compared to (26)% in Q1 2022. Adjusted gross margin was 56% in Q1 2023, compared to 61% in Q1 2022. Net loss was $329 million in Q1 2023, compared to $360 million in Q1 2022. Adjusted EBITDA was $1 million in Q1 2023, compared to $64 million in Q1 2022. Adjusted EBITDA margin was 0.1% in Q1 2023, compared to 6% in Q1 2022.",
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      "text": "Revenue was $989 million in Q1 2023, compared to $1,063 million in Q1 2022, a decrease of 7% year-over-year. On a constant currency basis to account for changes in foreign exchange rates, the decrease was approximately 6% year-over-year. Average revenue per user was $2.58 in Q1 2023, compared to $3.20 in Q1 2022.",
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