• Snap average ebit margin for 2023 was -32.03%, a 43.05% decline from 2022.
• Snap average ebit margin for 2022 was -22.39%, a 2.57% increase from 2021.
• Snap average ebit margin for 2021 was -22.98%, a 53.03% decline from 2020.

Ebit margin can be defined as earnings before interest and taxes as a portion of total revenues