Q1 2024 Earnings — Results of Operations, Reg FD Disclosure

Free cash flow surged 133% year-over-year to a record $191.1 million in Q1 2024, driven by nearly 50% lower capital expenditures and flat headcount, while revenue grew 22% to $801.3 million and DAUs climbed 17% to 77.7 million. Despite still posting a $272 million net loss, the company's aggressive efficiency push and updated full-year free cash flow guidance of $350–$420 million signal a credible path toward sustainable cash generation even as growth re-accelerates.