Snap, which raised USD 3.4 billion during its IPO earlier this year, reported first quarterly results showing both sharp revenue growth and widening losses. Revenues jumped over 280 percent to USD 149.64 million while the adjusted EBITDA loss widened to USD 188.24 million from a loss of 93.23 million. The net loss went to USD 2.2 billion from 104.57 million, due to USD 2 billion in costs for stock options related to the IPO.
Cash, cash equivalents and marketable securities lifted to USD 3.24 billion from under 1 million year-on-year, as the negative free cash flow grew to USD 173 million from a negative 105 million.
The number of daily active users (DAUs, or people using Snapchat at least once per day) reached 166 million at the end of the quarter from 122 million the year before. ARPU increased over 180 percent to USD 0.90.
