put, step everyone. good Snap, across for Thanks, improvements and represented but for Imran, specific our saw QX. our fourth on and results Simply four financially business, quarter afternoon will comment both a Overall, areas interest major forward operationally. we of I
First, and the anchored than traction year sales. up XX% revenues doubled, Revenues for brand XX% sequentially, growing auction XXX%. holiday increased year-over-year by and more
margin validate that substantially, gross business can model continues profitably. which to Second, our expanded scale
X,XXX up Evan As improving year-over-year over X,XXX in just points were margins noted, and points quarter. one basis gross basis XX%,
Third, one-third from cash to management. more sequentially, of headcount the fourth, quarter moderate, Net focused rate on were cash will thoughtful of recent quarters. by gains and our XXX, And expand XX% growth additions declined capital driven productivity continues thanks more the slightly now to I than burn each. team. in priorities deployment
in in quarter. revenues last quarter. markets First, XX% the grew of and and every XX% to revenue, international our We represent up from total a saw $XXX now global XX% region, year ago growth million fourth
were and some the Snap through It prior much auction. sold flowing see growing fastest Ads ad quarters, encouraging QX. auction auction the through sales very specifically, the volumes quarter. were consistent to was in expected, daily in during of QX the was dynamics higher the substantial with although Ads, volumes As product Snap Many
which ads. reserved ad As managed Snap partially by and to in sequentially from were programmatic the Ad expected, shift impressions, bidded to gains mix to pricing, revenue due fell offset growth by driven
some Let pricing. me and on numbers with impressions share you
sequentially First, over Snap XX% Promoted year-over-year. Stories, excluding Ad and impressions, XXX% up were up
down Second, sequentially, overall XX% Snap Ad more Stories, year-over-year. and excluding XX% pricing, was Promoted nearly than
up XX% XX% in the Third, ads of from served our programmatically, quarter over prior we ended quarter. the with
the our Over that prior prices quarter, were In term, on impact that auctions we contested percentage quarter, and to saw increase higher of the contested have the positive auctions. single-bidded count have advertiser our auctions increasing versus will believe medium than the a we continued pricing.
discuss margin non-recurring Now, margins, our while of Please including we to cloud We’ve is to excited looking and that or stock note at $X.XX, gaining our to are we basis. as see fueled related cost as X%, expansion year-over-year revenues user user payroll cost model costs taxes on gross growing user our CoRPU, been economic key all continue increased traction: In growth apparent our gross our will expenses depreciation based figures user, banded coupled they are when with strategy. expense particularly of amortization per QX, QX. again XX% per cost exclude successful charges. a compensation moderate ARPU in drivers, the $X.XX. and I to able leverage and The only our increased to execution multi seeing well through
metrics Specifically, a hosting ago and That's substantially. our in year costs per progress user to dropped from have great quarter. $X.XX engagement the more doubled grown than in sales year $X.XX have a when
worldwide a expanded can North continue our higher margins Internal are which to XX%. worldwide As suggest their to average, well the $X.XX model American in the margins ARPU, driven analyses above scale quarter. well result, by gross was economic as gross
primary for slowed substantially. cost. driver the In quarter, down people moving the statement, the expenses remains operating hiring income pace Now our
we in net lever by modest significant QX. declined XXX, adds legal of increased Overall early up slightly people. back-office our absolute expenses XX% started as and expenses. remains sequentially, commissions, Hiring priority, were number year-end sales than a driven in mix to costs, Specifically, employees were operating investments more and hiring, the
$XX than and infrastructure Lastly, light driven deployment for on at capital capital position priorities by modest million we remained CapEx our and strategy. managed $XX thoughtfully year, our the million this focused cash less quarter.
leads which the employees approach quarter, user and units our the adopted sell-to-cover was a $X.XX, the year Our substantially industry. modest reduced spend. for we CapEx per in quarter, was M&A which during stock vested for we than cash for the less restricted believe
by ended were to burn reduce $X marketable sequentially. cash securities. in We able with our billion we XXXX As cash and XX% result, a
on shares million fully QX key XX, a for December XXXX, X,XXX Snap a million were As basis. represented and of total the metrics. forward step outstanding diluted on financial X,XXX significant
we are to we’ll with to long is financial want deliver focused priorities. I some much there you thoughts and part for to our to move In share for As the term. year. on of do key manage business forward, continue the XXXX, we early the our
First, in think growth we current the about with business. momentum as we QX revenue start XXXX, the in
advertising QX, fourth Specifically, we growth from revenue strong in the majority saw the and our accelerated through revenue growth seasonally The QX for rate advertising, planning XX%. is of to our moderate in year-over-year year-over-year which rate In QX, to peaks are we quarter. growth our pace. revenue brand generated
continued executing to productivity are to the and quarter expenses, fourth future per said, hiring. of are a has be growth impressions quarterly additional focused The hosting down That than fully half determined. in year-over-year first we for and redesign impact are average we sequentially. application additional operating on be which cost cost cost in the yet drive in the note revenue $X.XX. prices offset and which substantially programmatic QX in With the to at business for planning creative we XXXX. in slightly result we exited lower initiatives transition we had cost respect believe On Also Additionally, of planning planning our saving platform, modest that the the team we XXXX more to of tools with are continue modest to XXXX, of $X of Spectacles gains to we DAU expenses, million higher increases. will
of does focused acquisitions. the growth not We are potential of were be XXXX, operating-expense expenditures than are in a front-of-house in XXXX low XXXX. in planning moderate $XX that Capital for in by any increase second we and hiring for half the XXXX, primarily and functions. digits driven million less first up Please this to versus more half note include planning double slight
additional to questions. to I of our of the the teams headquarter to do moving line although moves and for year Santa of Monica in half we to occur now up year, the leased later With turn We expect open as in call that, first operator back are into a many the series XXXX facilities during well. will the the
