Snap Inc. recorded a revenue slowdown in its released fourth quarter and full year 2022 financial results amid a challenging environment in the tech industry in the year.

While the company registered a positive number in the year, there was a notable slowdown from the performance in the year prior -2021.

Revenue increased 12% to $4.6 billion in 2022, marking a significant decrease in growth pace compared to the prior year. In 2021 revenue grew 64% to $4.1 billion in 2021. Net loss rose to $1,430 million in 2022, including restructuring charges of $189 million, compared to $488 million in 2021.

Snap registered a third consecutive year of positive Adjusted EBITDA with $378 million in 2022 from, however a slowdown from $617 million in 2021. Additionally, it marked a second full year of positive operating cash flow and Free Cash Flow of $185 million and $55 million, respectively. It is notable to mention that they were higher in 2021 at $293 million and $223 million respectively).