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Snap Inc. reported its financial results for the fourth quarter of 2021 and the full year, saying that it exceeded guidance across revenue, daily active users and adjusted EBIDTA (earnings before interest, taxes, debt and amortization), and it posted its first quarter of positive net income ($23 million) and its first full year of positive free cash flow ($223 million).
Co-founder and CEO Evan Spiegel said in his prepared remarks, “Achieving positive free cash flow for the full year is an important milestone as we are increasingly able to self-fund our investments in the future, which positions us well to accelerate our vision for computing overlaid on the world through augmented reality.”