[adam_arthur]

The stock-based compensation numbers are truly staggering. EBITDA/FCF measures tend to completely ignore it, making actual profitability significantly worse than non-GAAP measures imply

SNAP:

Revenue: $1.3B and projected to decline

Stock based comp: $446M

[kgwgk]

EBITDA doesn’t ignore stock-based compensation. Adjusted EBITDA typically does so though - just like adjusted EPS.

[drexlspivey]

Community adjusted EBITDA