Snap Inc (NYSE:SNAP) posted financial report for the quarter and full year closed December 31, 2017. Daily Active Users increased 8.9 million sequentially to 187 million, exhibiting the highest net additions since Q3 2016. DAUs surged 28.8 million year-on-year. The company defines a DAU as a registered Snapchat customer who opens the Snapchat app at least once during a stated 24-hour period. They measure average DAUs for a particular quarter by computing the average DAUs for that quarter.
Snap reported that revenue came at $285.7 million in the fourth quarter of 2017, up 37% sequentially and 72% year-over-year, led by seasonality and auction traction. Full year revenue surged 104% YoY to $824.9 million. Average revenue per user came at $1.53 in Q4 2017, up 31% sequentially and 46% year-over-year. Cost of revenue per user came at $1.02 in Q4 2017, an increase of 5% year-over-year and a drop of 14% sequentially.
Snap announced that adjusted EBITDA loss came at $(158.9) million in the fourth quarter 2017, a jump of 4% YoY and a growth of 11% sequentially. Adjusted EBITDA for FY2017 came at $(720.1) million as compared to $(459.2) million reported in the same period, a year ago. Cash and marketable securities came at $2 billion at the close of December 31, 2017.
The company reported that cash management lowered cash burn to $255 million in Q4 2017, a drop of 49% sequentially. Capital expenditures were modest in Q4 2017, provided their capital light business setup, at $21.2 million versus $20.4 million in Q4 2016. Full year capital expenditures stood at $84.5 million.
In the last trading session, the stock price of Snap declined 0.27% to close the day at $18.58. The decline came at a share volume of 28.87 million compared to average share volume of 29.79 million.