Snap Inc.
Q1 2022 Earnings Call
Apr 21, 2022, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good afternoon, everyone, and welcome to Snap Inc.'s first quarter 2022 earnings conference call. At this time, participants are in a listen-only mode. After the prepared remarks, there will be a question-and-answer session. [Operator instructions] This call will be recorded.
Thank you very much. David Ometer, head of investor relations, you may begin.
David Ometer -- Strategic Finance and Investor Relations
Thank you, and good afternoon, everyone. Welcome to Snap's First Quarter 2022 Earnings Conference Call. With us today are Evan Spiegel, chief executive officer and co-founder; Jeremi Gorman, chief business officer; and Derek Andersen, chief financial officer. Please refer to our investor relations website at investor.snap.com to find today's press release, slides, prepared remarks, and our updated investor presentation.
This conference call includes forward-looking statements, which are based on our assumptions as of today. Actual results may differ materially from those expressed in these forward-looking statements, and we make no obligation to update our disclosures. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the press release we issued today, as well as risks described in our most recent Form 10-Q, particularly in the section titled Risk Factors. Today's call will include both GAAP and non-GAAP measures.
Reconciliations between the two can be found in today's press release. Please note that when we discuss all of our expense figures, they will exclude stock-based compensation and related payroll taxes, as well as depreciation and amortization and nonrecurring charges. Please refer to our filings with the SEC to understand how we calculate any of the metrics discussed on today's call. With that, I'd like to turn the call over to Evan.
Evan Spiegel -- Chief Executive Officer and Co-Founder
Thank you all so much for joining us. The first quarter of 2022 proved more challenging than we had expected, and our team was able to make significant progress against our goals, despite the increased volatility in the operating environment. Our community grew 18% year over year to 332 million daily active users and revenue grew 38% year over year to $1.06 billion. This resulted in adjusted EBITDA of $64 million and free cash flow of $106 million, marking our third quarter of positive free cash flow.