Snap Inc, the holding company of the image-driven social media network Snapchat, on Monday, reported its Q4 results. Its annual revenue increased 64% to $4.1 billion in 2021, compared to the prior year.
Net loss improved 48% to $488 million in 2021, compared to the prior year. The second consecutive year reported a positive Adjusted EBITDA with $617 million in 2021. The First full year marked a positive operating cash flow and Free Cash Flow of $293 million and $223 million. Snaps Inc, quarterly revenue increased 42% to $1.3 billion in Q4 2021, compared to the prior year.
In the first quarter, it noted a positive net income as a public company of $23 million in Q4 2021 and adjusted EBITDA improved 97% to $327 million in Q4 2021, compared to the prior year. Its operating cash flow was $186 million in Q4 2021, compared to $(53) million in the prior year. Free Cash Flow was $161 million in Q4 2021, compared to $(69) million in the prior year.
“2021 was an exciting year for Snap and we made significant progress growing our business and serving our global community,” said Evan Spiegel, CEO. “The strength of our core business has enabled us to accelerate our investments
in augmented reality, transforming the way that the Snapchat community experiences the world through our camera.”