• Snap average ebitda margin for 2023 was -28.06%, a 53% decline from 2022.
• Snap average ebitda margin for 2022 was -18.34%, a 2.34% increase from 2021.
• Snap average ebitda margin for 2021 was -18.78%, a 55.52% decline from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.