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MarketScreener Homepage  >  Equities  >  Nyse  >  Twitter    TWTR

TWITTER

(TWTR)
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Twitter : Selected Company Metrics and Financials ()

11/19/2020 | 05:13am EST

Selected Company Metrics and Financials

FY 2018

FY 2019

FY 2020

Year End

Company Metrics (in Millions) (1)

Q1'18

Q2'18

Q3'18

Q4'18

Q1'19

Q2'19

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

2017

2018

2019

Monetizable Daily Active Usage (mDAU): Worldwide

120

122

124

126

134

139

145

152

166

186

187

115

126

152

QoQ%

4%

2%

2%

1%

6%

4%

5%

5%

9%

12%

1%

n/a

n/a

n/a

YoY%

10%

11%

9%

9%

11%

14%

17%

21%

24%

34%

29%

12%

9%

21%

mDAU: United States

26

26

26

27

28

29

30

31

33

36

36

25

27

31

QoQ%

4%

-1%

1%

1%

6%

1%

4%

3%

8%

7%

0%

n/a

n/a

n/a

YoY%

3%

5%

3%

5%

8%

10%

13%

15%

17%

24%

20%

6%

5%

15%

mDAU: International

94

96

98

99

105

110

115

121

133

150

152

89

99

121

QoQ%

5%

3%

2%

1%

6%

5%

5%

5%

9%

14%

1%

n/a

n/a

n/a

YoY%

12%

12%

10%

11%

12%

15%

18%

22%

26%

37%

32%

13%

11%

22%

Revenue Mix ($ in 000's)

GAAP Revenue (Worldwide)

664,871

710,541

758,111

908,836

786,890

841,381

823,717

1,007,341

807,637

683,438

936,233

2,443,299

3,042,359

3,459,329

QoQ%

-9%

7%

7%

20%

-13%

7%

-2%

22%

-20%

-15%

37%

n/a

n/a

n/a

YoY%

21%

24%

29%

24%

18%

18%

9%

11%

3%

-19%

14%

-3%

25%

14%

Advertising revenue

575,156

601,060

649,816

791,365

679,466

727,123

702,257

884,546

682,192

561,994

808,449

2,109,987

2,617,397

2,993,392

QoQ%

-11%

5%

8%

22%

-14%

7%

-3%

26%

-23%

-18%

44%

n/a

n/a

n/a

YoY%

21%

23%

29%

23%

18%

21%

8%

12%

0%

-23%

15%

-6%

24%

14%

Data licensing & other

89,715

109,481

108,295

117,471

107,424

114,258

121,460

122,795

125,445

121,444

127,784

333,312

424,962

465,937

QoQ%

3%

22%

-1%

8%

-9%

6%

6%

1%

2%

-3%

5%

n/a

n/a

n/a

YoY%

20%

29%

25%

35%

20%

4%

12%

5%

17%

6%

5%

18%

27%

10%

United States advertising revenue

287,717

292,575

347,780

425,481

362,800

378,545

384,547

509,189

381,364

283,452

427,827

1,159,845

1,353,553

1,635,081

QoQ%

-16%

2%

19%

22%

-15%

4%

2%

32%

-25%

-26%

51%

n/a

n/a

n/a

YoY%

1%

9%

32%

24%

26%

29%

11%

20%

5%

-25%

11%

-15%

17%

21%

International advertising revenue

287,439

308,485

302,036

365,884

316,666

348,578

317,710

375,357

300,828

278,542

380,622

950,142

1,263,844

1,358,311

QoQ%

-5%

7%

-2%

21%

-13%

10%

-9%

18%

-20%

-7%

37%

n/a

n/a

n/a

YoY%

52%

40%

26%

21%

10%

13%

5%

3%

-5%

-20%

20%

7%

33%

7%

GAAP Revenue (United States)

346,570

366,657

423,443

505,589

432,356

455,201

465,409

591,056

468,430

364,881

512,637

1,413,614

1,642,259

1,944,022

QoQ%

-15%

6%

15%

19%

-14%

5%

2%

27%

-21%

-22%

40%

n/a

n/a

n/a

YoY%

2%

10%

28%

24%

25%

24%

10%

17%

8%

-20%

10%

-10%

16%

18%

% of total GAAP revenue

52%

52%

56%

56%

55%

54%

57%

59%

58%

53%

55%

58%

54%

56%

GAAP Revenue (International)

318,301

343,884

334,668

403,247

354,534

386,180

358,308

416,285

339,207

318,557

423,596

1,029,685

1,400,100

1,515,307

QoQ%

-2%

8%

-3%

20%

-12%

9%

-7%

16%

-19%

-6%

33%

n/a

n/a

n/a

YoY%

53%

44%

30%

24%

11%

12%

7%

3%

-4%

-18%

18%

7%

36%

8%

% of total GAAP revenue

48%

48%

44%

44%

45%

46%

43%

41%

42%

47%

45%

42%

46%

44%

(1) The sum of individual metrics may not always equal total amounts indicated due to rounding.

Selected Company Metrics and Financials

($ in 000's)

FY 2018

FY 2019

FY 2020

Fiscal Year

GAAP P&L

Q1'18

Q2'18

Q3'18

Q4'18

Q1'19

Q2'19

Q3'19

Q4'19

Q1'20

Q2'20(2)

Q3'20

2017

2018

2019

GAAP Revenue

664,871

710,541

758,111

908,836

786,890

841,381

823,717

1,007,341

807,637

683,438

936,233

2,443,299

3,042,359

3,459,329

Cost of revenue

222,823

230,185

243,644

268,345

264,011

277,965

281,057

314,008

284,037

288,039

361,388

861,242

964,997

1,137,041

Research and development

123,346

138,574

150,764

141,174

146,246

159,242

178,553

198,240

200,388

215,806

208,877

542,010

553,858

682,281

Sales and marketing

178,059

188,032

193,496

211,774

205,799

240,249

226,204

241,561

221,287

207,286

215,285

717,419

771,361

913,813

General and administrative

65,718

74,126

78,339

80,635

77,176

88,239

93,758

100,648

109,368

246,237

94,576

283,888

298,818

359,821

Income (loss) from operations

74,925

79,624

91,868

206,908

93,658

75,686

44,145

152,884

(7,443)

(273,930)

56,107

38,740

453,325

366,373

Operating margin

11%

11%

12%

23%

12%

9%

5%

15%

-1%

-40%

6%

2%

15%

11%

Interest expense

(27,015)

(29,982)

(38,336)

(37,273)

(37,260)

(38,317)

(36,226)

(26,377)

(33,270)

(39,828)

(39,614)

(105,237)

(132,606)

(138,180)

Interest income

16,181

21,960

36,067

37,013

40,541

42,887

40,348

33,927

32,897

25,013

17,167

44,383

111,221

157,703

Other income (expense), net

(209)

(5,735)

(2,341)

(111)

(436)

7,523

(504)

(2,340)

(7,719)

(361)

(3,977)

(73,304)

(8,396)

4,243

Provision (benefit) for income taxes

2,885

(34,250)

(701,921)

(48,766)

(94,301)

(1,031,781)

11,241

39,321

(7,139)

1,088,899

1,024

12,645

(782,052)

(1,075,520)

Net income (loss)

60,997

100,117

789,179

255,303

190,804

1,119,560

36,522

118,773

(8,396)

(1,378,005)

28,659

(108,063)

1,205,596

1,465,659

Net margin

9%

14%

104%

28%

24%

133%

4%

12%

-1%

-202%

3%

-4%

40%

42%

Selected Balance Sheet Data

Cash, cash equivalents, and short-term investments

4,528,831

5,661,115

5,956,543

6,209,401

6,459,892

6,686,538

5,816,384

6,639,052

7,670,664

7,766,014

7,681,047

4,403,102

6,209,401

6,639,052

Working capital

4,880,581

5,946,085

5,262,114

5,594,725

5,634,106

5,779,045

5,861,824

6,787,599

7,757,559

7,654,180

6,654,476

4,738,606

5,594,725

6,787,599

Property and equipment, net

801,912

914,795

904,027

885,078

913,096

982,513

994,266

1,031,781

1,081,371

1,142,601

1,392,720

773,715

885,078

1,031,781

Total stockholders' equity

5,210,436

5,570,904

6,452,572

6,805,594

7,088,819

8,344,814

8,415,642

8,704,386

8,795,627

7,658,055

7,812,088

5,047,218

6,805,594

8,704,386

Cash Flow From Operating Activities to Adjusted Free Cash Flow Reconciliation

Cash flows from operating activities

242,673

321,140

443,899

331,999

351,693

338,973

335,519

277,179

246,767

201,016

214,787

831,209

1,339,711

1,303,364

Purchases of property and equipment

(93,091)

(196,450)

(120,372)

(74,021)

(83,026)

(135,795)

(170,252)

(151,615)

(122,667)

(164,416)

(290,746)

(160,742)

(483,934)

(540,688)

Proceeds from sales of property and equipment

1,763

2,693

3,671

4,943

1,956

1,101

1,233

1,868

1,623

2,282

1,910

2,783

13,070

6,158

Equipment purchases under finance leases

(16,086)

0

0

0

0

0

0

0

0

0

0

(123,235)

(16,086)

0

Adjusted free cash flow

135,259

127,383

327,198

262,921

270,623

204,279

166,500

127,432

125,723

38,882

(74,049)

550,015

852,761

768,834

Selected Cash Flow Supplemental Disclosures

Cash flows from investing activities(3)

(258,992)

(413,531)

(1,026,764)

(356,226)

29,446

(413,828)

314,920

(1,046,512)

466,144

(578,957)

(1,120,076)

(116,526)

(2,055,513)

(1,115,974)

Cash flows from financing activities

(29,036)

1,048,908

(30,641)

(11,115)

(29,101)

3,948

(954,207)

693,185

963,984

25,098

(7,812)

(78,373)

978,116

(286,175)

  1. In July 2020, prior to our filing of our Form 10-Q for the second quarter of 2020, we received a draft complaint from the Federal Trade Commission and recorded an accrual of $150.0 million, which is included in accrued and other current liabilities in the consolidated balance sheets and in general and administrative expenses in the consolidated statements of operations, as described in Note 14 in the notes to the consolidated financial statements included in our Form 10-Q for the second quarter of 2020.
  2. The Company adopted the new accounting standard on the presentation of restricted cash in the statement of cash flows retrospectively during the three months ended March 31, 2018. As a result of the adoption, cash flows from investing activities were adjusted to exclude the changes in

restricted cash for all historical periods presented prior to Q1'18.

Selected Company Metrics and Financials

($ in 000's)

FY 2018

FY 2019

FY 2020

Fiscal Year

Net Income (Loss) to Adjusted EBITDA Reconciliation

Q1'18

Q2'18

Q3'18

Q4'18

Q1'19

Q2'19

Q3'19

Q4'19

Q1'20

Q2'20(4)

Q3'20

2017

2018

2019

Net income (loss)

60,997

100,117

789,179

255,303

190,804

1,119,560

36,522

118,773

(8,396)

(1,378,005)

28,659

(108,063)

1,205,596

1,465,659

Stock-based compensation expense

73,266

79,469

91,606

81,887

83,491

94,615

98,623

101,296

97,903

132,876

115,969

433,806

326,228

378,025

Depreciation and amortization expense

96,846

105,982

111,947

110,723

113,474

115,616

119,986

116,473

120,649

123,837

121,983

395,867

425,498

465,549

Interest and other expense (income), net

11,043

13,757

4,610

371

(2,845)

(12,093)

(3,618)

(5,210)

8,092

15,176

26,424

134,158

29,781

(23,766)

Provision (benefit) for income taxes

2,885

(34,250)

(701,921)

(48,766)

(94,301)

(1,031,781)

11,241

39,321

(7,139)

1,088,899

1,024

12,645

(782,052)

(1,075,520)

Restructuring charges and one-time nonrecurring gain

(983)

(265)

(18)

(2,989)

0

(217)

0

0

0

0

0

(5,427)

(4,255)

(217)

Adjusted EBITDA

244,054

264,810

295,403

396,529

290,623

285,700

262,754

370,653

211,109

(17,217)

294,059

862,986

1,200,796

1,209,730

GAAP Costs and Expenses to Non-GAAP Costs and Expenses Reconciliation by Function

Total GAAP cost of revenue

222,823

230,185

243,644

268,345

264,011

277,965

281,057

314,008

284,037

288,039

361,388

861,242

964,997

1,137,041

Less: stock-based compensation expense

4,799

3,338

4,247

4,905

5,048

5,973

5,757

6,019

5,756

8,996

8,581

23,849

17,289

22,797

Less: amortization of acquired intangible assets

4,477

4,411

3,915

4,321

4,320

3,763

3,806

4,034

5,041

7,519

5,424

29,134

17,124

15,923

Less: restructuring charges and one-time nonrecurring gain

(60)

(17)

(1)

(179)

0

(13)

0

0

0

0

0

378

(257)

(13)

Total non-GAAP cost of revenue

213,607

222,453

235,483

259,298

254,643

268,242

271,494

303,955

273,240

271,524

347,383

807,881

930,841

1,098,334

Total GAAP research and development expense

123,346

138,574

150,764

141,174

146,246

159,242

178,553

198,240

200,388

215,806

208,877

542,010

553,858

682,281

Less: stock-based compensation expense

41,946

45,069

53,195

43,589

46,261

50,229

53,009

59,564

60,587

77,988

66,111

240,833

183,799

209,063

Less: amortization of acquired intangible assets

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Less: restructuring charges and one-time nonrecurring gain

(330)

(89)

(6)

(1,011)

0

(73)

0

0

0

0

0

(9,985)

(1,436)

(73)

Total non-GAAP research and development expense

81,730

93,594

97,575

98,596

99,985

109,086

125,544

138,676

139,801

137,818

142,766

311,162

371,495

473,291

Total GAAP sales and marketing expense

178,059

188,032

193,496

211,774

205,799

240,249

226,204

241,561

221,287

207,286

215,285

717,419

771,361

913,813

Less: stock-based compensation expense

14,822

18,225

19,634

18,624

18,065

22,202

23,755

21,717

18,839

29,183

25,550

94,135

71,305

85,739

Less: amortization of acquired intangible assets

465

465

465

465

465

155

0

0

0

0

0

17,403

1,860

620

Less: restructuring charges and one-time nonrecurring gain

(400)

(107)

(7)

(1,208)

0

(87)

0

0

0

0

0

2,940

(1,722)

(87)

Total non-GAAP sales and marketing expense

163,172

169,449

173,404

193,893

187,269

217,979

202,449

219,844

202,448

178,103

189,735

602,941

699,918

827,541

Total GAAP general and administrative expense

65,718

74,126

78,339

80,635

77,176

88,239

93,758

100,648

109,368

246,237

94,576

283,888

298,818

359,821

Less: stock-based compensation expense

11,699

12,837

14,530

14,769

14,117

16,211

16,102

13,996

12,721

16,709

15,727

74,989

53,835

60,426

Less: amortization of acquired intangible assets

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Less: restructuring charges and one-time nonrecurring gain

(193)

(52)

(4)

(591)

0

(44)

0

0

0

0

0

1,240

(840)

(44)

Total non-GAAP general and administrative expense

54,212

61,341

63,813

66,457

63,059

72,072

77,656

86,652

96,647

229,528

78,849

207,659

245,823

299,439

Total GAAP costs and expenses

589,946

630,917

666,243

701,928

693,232

765,695

779,572

854,457

815,080

957,368

880,126

2,404,559

2,589,034

3,092,956

Less: stock-based compensation expense

73,266

79,469

91,606

81,887

83,491

94,615

98,623

101,296

97,903

132,876

115,969

433,806

326,228

378,025

Less: amortization of acquired intangible assets

4,942

4,876

4,380

4,786

4,785

3,918

3,806

4,034

5,041

7,519

5,424

46,537

18,984

16,543

Less: restructuring charges and one-time nonrecurring gain

(983)

(265)

(18)

(2,989)

0

(217)

0

0

0

0

0

(5,427)

(4,255)

(217)

Total non-GAAP costs and expenses

512,721

546,837

570,275

618,244

604,956

667,379

677,143

749,127

712,136

816,973

758,733

1,929,643

2,248,077

2,698,605

Net Income (Loss) to Non-GAAP Net Income (Loss) Reconciliation

Net income (loss)

60,997

100,117

789,179

255,303

190,804

1,119,560

36,522

118,773

(8,396)

(1,378,005)

28,659

(108,063)

1,205,596

1,465,659

Exclude: provision (benefit) for income taxes

2,885

(34,250)

(701,921)

(48,766)

(94,301)

(1,031,781)

11,241

39,321

(7,139)

1,088,899

1,024

12,645

(782,052)

(1,075,520)

Income (loss) before income taxes

63,882

65,867

87,258

206,537

96,503

87,779

47,763

158,094

(15,535)

(289,106)

29,683

(95,418)

423,544

390,139

Stock-based compensation expense

73,266

79,469

91,606

81,887

83,491

94,615

98,623

101,296

97,903

132,876

115,969

433,806

326,228

378,025

Amortization of acquired intangible assets

4,942

4,876

4,380

4,786

4,785

3,918

3,806

4,034

5,041

7,519

5,424

46,537

18,984

16,543

Non-cash interest expense related to convertible notes

20,722

23,309

30,878

31,017

30,877

31,910

30,464

20,047

21,504

26,556

26,673

80,061

105,926

113,298

Impairment (gain) on investments in privately-held companies

0

3,000

0

0

0

(8,611)

0

0

8,003

500

339

62,439

3,000

(8,611)

Restructuring charges and one-time nonrecurring gain

(983)

(265)

(18)

(2,989)

0

(217)

0

0

0

0

0

(5,427)

(4,255)

(217)

Non-GAAP income (loss) before income taxes

161,829

176,256

214,104

321,238

215,656

209,394

180,656

283,471

116,916

(121,655)

178,088

521,998

873,427

889,177

Non-GAAP provision (benefit) for income taxes(5)

38,839

42,301

51,386

77,097

(72,829)

(1,029,343)

43,820

87,859

29,508

1,118,723

26,713

193,139

209,623

(970,493)

Non-GAAP net income (loss)

122,990

133,955

162,718

244,141

288,485

1,238,737

136,836

195,612

87,408

(1,240,378)

151,375

328,859

663,804

1,859,670

  1. In July 2020, prior to our filing of our Form 10-Q for the second quarter of 2020, we received a draft complaint from the Federal Trade Commission and recorded $150.0 million in general and administrative expenses in the consolidated statements of operations.
  2. The non-GAAP benefit from income taxes for the three months ended March 31, 2019 and June 30, 2019 includes benefits of $124.4 million and $1.08 billion, respectively, from the establishment of deferred tax assets from intra-entity transfers of intangible assets. The non-GAAP provision for income taxes for the three months ended June 30, 2020 includes a provision of $1.11 billion related to the establishment of a valuation allowance against deferred tax assets.

Disclaimer

Twitter Inc. published this content on 28 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 10:12:00 UTC


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