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1	Main
2			Q118	Q218	Q318	Q418	Q119	Q219	Q319	Q419	Q120	Q220	Q320	Q420	Q121	Q221	Q321	Q421	Q122	Q222	Q322	Q422	Q123	Q223	Q323	Q423	Q124	Q224	Q324	Q424		2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030
3		Family DAP								2260	2360	2470	2540	2600	2720	2760	2810	2820	2870	2880	2930	2960	3020	3070	3140	3190
4		Family MAP								2890	2990	3140	3210	3300	3450	3510	3580	3590	3640	3650	3710	3740	3810	3880	3950	3980
5		Facebook DAU					1560	1590	1620	1660	1734	1785	1820	1845	1878	1908	1930	1929	1960	1968	1984	2000	2040	2060	2090	2110
6		US/CA									195	198	196	195	195	195	196	195	196	197	197
7		US/CA ARPU									42.96923076923077	45.75252525252525	50.95918367346939	67.43589743589743	61.01025641025641	68.54358974358975	66.8061224489796	77.24102564102564	61.3469387755102	64.91370558375634	64.80203045685279
8		Facebook MAU					2380	2410	2450	2500	2603	2701	2740	2797	2853	2895	2910	2912	2936	2934	2958	2960	2990	3030	3050	3070
9		US/CA									253	256	255	258	259	259	261	262	263	264	266
10
11		Global ARPP									5.932107023411371	5.951273885350319	6.688473520249222	8.506666666666666	7.585797101449275	8.284045584045584	8.103351955307263	9.379108635097493	7.667032967032967	7.896438356164383	7.470080862533693	8.600267379679144	7.518372703412074
12		2Q MA										5.941690454380845	6.31987370279977	7.597570093457944	8.04623188405797	7.93492134274743	8.193698769676423	8.741230295202378	8.52307080106523	7.781735661598676	7.683259609349038	8.035174121106419	8.05932004154561
13		y/y														0.33546528612862403	0.29649723317200616	0.15052973354325583	0.05926238814370022	-0.019305255154011935	-0.06229654941873619	-0.0807730891706947	-0.054411229279200723
14		Family MARPU									5.832775919732441	5.834713375796178	6.610903426791277	8.238484848484848	7.373623188405797	8.142450142450143	7.898324022346369	9.091643454038998	7.417032967032967	7.712876712328767	7.341509433962264	8.35668449197861	7.375590551181102
15		Family DARPU									7.389830508474576	7.417408906882591	8.354724409448819	10.456538461538461	9.352573529411766	10.355072463768115	10.062633451957295	11.574113475177304	9.406968641114982	9.775	9.295904436860068	10.558783783783785	9.30496688741722
16		2Q MA										7.403619707678583	7.886066658165705	9.405631435493639	9.904555995475114	9.85382299658994	10.208852957862705	10.8183734635673	10.490541058146142	9.590984320557492	9.535452218430034	9.927344110321926	9.931875335600502
17		y/y														0.3309466700957311	0.29454307202588104	0.15020172093310546	0.05916318338133841	-0.02667377688064898	-0.0659624291007177	-0.08236259879972396	-0.05325423345174596
18
19		ROW Ads									1654	1539	1980	2512	2434	2857	2963	3220	2949	3169	3047
20		APAC Ads									3236	3312	4202	4703	4735	5152	5398	6183	5661	5835	5717
21		EU Ads									4171	4411	5051	6822	6373	7205	6821	8174	6364	6360	5707
22		USCA Ads									8379	9059	9988	13150	11897	13366	13094	15062	12024	12788	12766
23		Other	171	193	188	274	165	262	269	346	297			168	198	192	176	155	215	218	192	184	205	225	293	334											825	541	657	721
24		Reality												717	534	305	558	877	695	452	285	727	339	276	210	1071												501	1139	2274
25		Ads	11795	13038	13539	16640	14912	16624	17383	20736	17440	18321	21221	27187	25439	28580	28276	32639	26998	28152	27237	31254	28101	31498	33643	38706						7872	12466	17928	27638	40653	55013	69655	84169	114934
26		Revenue	11966	13231	13727	16914	15077	16886	17652	21082	17737	18687	21470	28072	26171	29077	29010	33671	27908	28822	27714	32165	28645	31999	34146	40111	0	0	0	0		7872	12466	17928	27638	40653	55838	70697	85965	117929	116609	110778.54999999999	105239.62249999998	115763.58475	121551.7639875	125198.316907125	128954.26641433875	132822.89440676893	136807.581238972
27		COGS	1927	2214	2418	2796	2816	3307	3155	3492	3459	3829	4194	5210	5131	5399	5771	6348	6005	5192	5716	8336	6015.450000000001	5945	6210	7695											9355	12770	16692	22649	22155.709999999992	21047.924499999994	19995.52827499999	21995.081102499986	23094.835157625	23787.68021235375	24501.310618724354	25236.349937286082	25993.44043540467
28		Gross Margin	10039	11017	11309	14118	12261	13579	14497	17590	14278	14858	17276	22862	21040	23678	23239	27323	21903	23630	21998	23829	22629.55	26054	27936	31687.690000000002											46483	57927	69273	95280	94453.29000000001	89730.6255	85244.094225	93768.50364750001	98456.928829875	101410.63669477125	104452.9557956144	107586.54446948285	110814.14080356732
29		R&D	2238	2523	2657	2855	2860	3315	3548	3877	4015	4462	4763	5208	5197	6096	6316	7046	7707	8690	9170	9771	6936.3	9344	9241	10517											10273	13600	18447	24655	22189.5	19970.55	17973.495	16176.145499999999	14558.530949999998	13102.677854999998	11792.410069499998	10613.169062549998	9551.852156294999
30		M&S	1595	1855	1928	2467	2020	2414	2416	3026	2787	2840	2683	3280	2843	3259	3554	4387	3312	3595	3780	4574	2980.8	3154	2877	3226											7846	9876	11591	14043	14043	14043	14043	14043	14043	14043	14043	14043	14043
31		G&A	757	776	943	976	1064	1224	1348	1829	1583	1593	1790	1599	1622	1956	2946	3305	2360	2987	3384	3085	2124	2294	2070	2289											3451	5465	6564	9829	9829	9829	9829	9829	9829	9829	9829	9829	9829
32		Operating Expenses	4590	5154	5528	6298	5944	6953	7312	8732	8385	8895	9236	10087	9662	11311	12816	14738	13379	15272	16334	17430	12041.1	14792	14188	16032											21570	28941	36602	48527	46061.5	43842.55	41845.494999999995	40048.1455	38430.53095	36974.677855	35664.410069499994	34485.16906255	33423.852156295
33		Operating Income	5449	5863	5781	7820	6317	6626	7185	8858	5893	5963	8040	12775	11378	12367	10423	12585	8524	8358	5664	6399	10588.449999999999	11262	13748	15655.690000000002											24913	28986	32671	46753	48391.79000000001	45888.07549999999	43398.599225	53720.35814750001	60026.397879875	64435.95883977125	68788.5457261144	73101.37540693284	77390.28864727233
34		Interest Income	161	5	131	151	206	206	144	311	-32	168	93	280	125	146	142	117	384	-172	-88	-250	-250	-99	272	424											448	826	509	531		1059.1200000000001	1829.0540062	2570.78751919168	3493.962308125424	4535.696215208631	5666.831358110302	6887.899542291587	8199.723651458868
35		Pretax Income	5610	5868	5912	7971	6523	6832	7329	9169	5861	6131	8133	13055	11503	12513	10565	12702	8908	8186	5576	6149	10338.449999999999	11163	14020	16079.690000000002											25361	29812	33180	47284	48391.79000000001	46947.195499999994	45227.6532312	56291.14566669169	63520.36018800043	68971.65505497988	74455.3770842247	79989.27494922443	85590.0122987312
36		Taxes	623	762	775	1089	2216	2216	1238	1820	959	953	287	1836	2006	2119	1371	2417	1443	1499	1181	1497	1964.3054999999997	1505	2437	2791											3250	6327	4034	7914	8710.522200000001	8450.495189999998	8140.977581615999	10132.406220004505	11433.664833840077	12414.89790989638	13401.967875160446	14398.069490860398	15406.202213771616
37		Net Income	4987	5106	5137	6882	4307	4616	6091	7349	4902	5178	7846	11219	9497	10394	9194	10285	7465	6687	4395	4652	8374.144499999999	9658	11583	13288.690000000002											22111	23485	29146	39370	39681.26780000001	38496.70031	37086.675649584	46158.73944668719	52086.69535416035	56556.75714508351	61053.40920906426	65591.20545836404	70183.8100849596	66674.61958071162	63340.88860167603	60173.84417159222	57165.15196301261	54306.89436486198	51591.54964661888	49011.97216428793	46561.37355607353	44233.30487826985	42021.63963435636	39920.55765263854	37924.529770006615	36028.30328150628	34226.888117430964	32515.543711559414	30889.766525981442	29345.27819968237	27878.01428969825	26484.113575213338	25159.90789645267	23901.912501630035	22706.81687654853	21571.476032721104	20492.90223108505	19468.257119530794	18494.844263554252	17570.10205037654	16691.59694785771	15857.017100464824	15064.166245441582	14310.957933169502	13595.410036511026	12915.639534685475	12269.857557951202	11656.36468005364	11073.546446050957	10519.869123748409	9993.875667560987	9494.181884182937	9019.47278997379	8568.4991504751	8140.074192951344	7733.070483303777	7346.416959138588	6979.096111181659	6630.141305622576	6298.6342403414465	5983.702528324374	5684.517401908155	5400.291531812747	5130.27695522211	4873.763107461004	4630.074952087954	4398.571204483556	4178.642644259378	3969.7105120464093
38		EPS	1.6933786078098472	1.7426621160409557	1.763474081702712	2.3846153846153846	1.4980869565217392	1.6055652173913044	2.119345859429367	2.559735283873215	1.709205020920502	1.7985411601250434	2.713939813213421	3.882006920415225	3.2952810548230396	3.6127911018421965	3.2158097236796084	3.6745266166488033	2.722465353756382	2.4647991153704387	1.6356531447711202	1.7621212121212122	3.172024431818181	3.6975497702909648	4.3858386974630825	5.0527338403041835											7.569667921944539	8.165855354659248	10.092105263157896	13.770549143057012	14.721301354108704	14.281840218883325	13.758737024516417	17.124370041434684	19.323574607367966	20.981916952358937	22.650123987781214	24.33359505040402	26.037399400838282
39		Shares	2945	2930	2913	2886	2875	2875	2874	2871	2868	2879	2891	2890	2882	2877	2859	2799	2742	2713	2687	2640	2640	2612	2641	2630										2905.000758	2921	2876	2888	2859	2695.5	2695.5	2695.5	2695.5	2695.5	2695.5	2695.5	2695.5	2695.5
40
41		Revenue y/y					0.25998662878154777	0.2762451817700855	0.2859328331026445	0.2464230814709707	0.17642767128739134	0.10665640175293145	0.21629277135735325	0.33156247035385644	0.47550318543158365	0.5560014983678494	0.35118770377270603	0.19945141065830718	0.06637117420045091	-0.008769818069264357	-0.044674250258531556	-0.044726916337501144	0.02640819836606001	0.110228297828048	0.2320848668542974	0.2470387066687394							0.5835873983739837	0.43815177282207607	0.5416108879964301	0.4709096171937188	0.37352716896661997	0.26610910132884413	0.21596390228722573	0.3718257430349561	-0.011193175554782941	-0.050000000000000044	-0.050000000000000044	0.10000000000000009	0.050000000000000044	0.030000000000000027	0.030000000000000027	0.030000000000000027	0.030000000000000027
42		US Revenue y/y													0.4198591717388709	0.4754387901534385	0.31097316780136164	0.14539923954372624	0.010674960073968176	-0.043244052072422545	-0.025049641056972605
43		Ad Volume y/y																	0.15	0.15	0.17
44		Ad Pricing y/y																	-0.08	-0.14	-0.18	-0.22
45		Reality y/y																0.22315202231520215	0.30149812734082393	0.4819672131147541	-0.489247311827957	-0.17103762827822122	-0.5122302158273382	-0.3893805309734514	-0.26315789473684215	0.4731774415405776													1.2734530938123751	0.9964881474978051	-1
46		OpEx y/y															0.38761368557817244	0.4610885297908198	0.3847029600496792	0.35019008045265676	0.27450062421972543	0.1826570769439544	-0.09999999999999998	-0.03143006809848092	-0.13138239255540585	-0.0802065404475043
47
48		Gross Margin	0.8389603877653351	0.8326657093190235	0.8238508049828804	0.8346931536005676	0.813225442727333	0.8041572900627739	0.8212667119873103	0.8343610663124941	0.8049839318937814	0.7950981966072671	0.8046576618537494	0.8144058136221146	0.8039432960146727	0.8143205970354576	0.801068597035505	0.8114698108164295	0.7848287229468253	0.8198598292970647	0.7937504510355777	0.7408363127623193	0.7899999999999999	0.8142129441545048	0.8181338956246705	0.79											0.8324617643898421	0.8193699874110641	0.8058279532367824	0.8079437627725157	0.81	0.81	0.81	0.8100000000000002	0.81	0.81	0.81	0.81	0.81
49		Operating Margin	0.45537355841551064	0.4431259919885118	0.42114081736723247	0.4623388908596429	0.4189825562114479	0.39239606774843067	0.40703602991162474	0.4201688644341144	0.3322433331454023	0.3190988387649168	0.37447601304145317	0.45507979481333716	0.43475602766420846	0.42531898063761736	0.35928990003447087	0.37376377297971547	0.30543213415508097	0.2899868156269516	0.204373240961247	0.19894295041193844	0.36964391691394655	0.3519484983905747	0.4026240262402624	0.3903091421305877											0.4461656936136681	0.41000325332050863	0.3800500203571221	0.39645040660058173	0.4149918959943058	0.4142324980783734	0.41237889488818724	0.4640523033518104	0.4938340334250347	0.5146711268296947	0.5334336555030461	0.5503672821875161	0.5656871347801183				NPV	572407.4983602049
50		Tax Rate	0.11105169340463458	0.12985685071574643	0.1310893098782138	0.13662024840045164	0.33972098727579336	0.32435597189695553	0.1689179969982262	0.19849492856363835	0.16362395495649207	0.15543956940140272	0.03528833148899545	0.14063577173496744	0.17438928975049986	0.16934388236234316	0.1297681022243256	0.19028499448905684	0.1619892231701841	0.18311751771316884	0.21180057388809181	0.24345422019840623	0.19	0.13482038878437697	0.1738231098430813	0.17357299798690146											0.12814952091794488	0.21222997450690997	0.12157926461723931	0.16737162676592504	0.18	0.17999999999999997	0.18	0.18	0.18	0.18	0.18	0.18	0.18				Discount	0.08
51																																																					Terminal	-0.05
52		Net Cash															64833	54773	50665	47025	38382	43034	51408.144499999995	61066.144499999995	72649.1445	85937.8345																											ROIC	0.02
53		Cash												68188	70561	70473	64833	54773	50665	47025	48304	52956	61330.144499999995	70988.1445	82571.1445	95859.8345														54773	52956	91452.70031	128539.375959584	174698.1154062712	226784.81076043154	283341.5679055151	344394.97711457935	409986.1825729434	480169.992657903				Share	215.87667010339968
54		AR												11335	10276	11698	12088	14039	11390	11525	11227																																Upside	0.02798414334952226
55		Prepaids												2381	2827	4919	5258	4629	3985	3973	5312
56		PPE												45633	47720	50909	53726	57809	61582	67588	73738
57		Lease ROU												9348	10202	10525	11063	12155	12241	14130	13641
58		Intangibles												19673	19561	19733	19430	19831	20833	21194	21143
59		Other												2758	2376	2352	3187	2751	3522	4344	5529
60		Assets												159316	163523	170609	169585	165987	164218	169779	178894
61
62		AP												1331	878	973	2195	4083	3246	4008	3871
63		Partners Payable												1093	1006	949	909	1052	935	982	975
64		Leases												10654	11614	12007	12640	13873	14053	16067	15978
65		AE												11152	9411	11510	13158	14312	15226	15420	16036
66		DR												382	382	391	464	561	520	532	514
67		Debt																			9922	9922	9922	9922	9922	9922
68		OL												6414	6575	6552	6859	7227	7010	7003	7504
69		PIC												50018	51160	52845	54334	55811	57512	59929	62092
70		AOCL												927	154	285	-207	-693	-1996	-3411	-5054
71		Retained												77345	82343	85097	79233	69761	67712	69249	67056
72		L+SE												159316	163523	170609	169585	165987	164218	169779	178894
73
74		Model NI													9497	10394	9194	10285	7465	6687	4395
75		Reported NI													9497	10395	9193	10285	7465	6687	4395
76		D&A													1972	1986	1995	2014	2156	1979	2175
77		SBC													1830	2549	2378	2406	2498	3351	3135
78		DT													418	229	-786	748	-563	-453	-1097
79		Other													-66	-22	-73	34	-221	189	516
80		WC													-1409	-1890	1383	2617	2741	444	567
81		CFFO													12242	13247	14090	18104	14076	12197	9691
82
83		CapEx													-4272	-4612	-4314	-5370	-5315	-7528	-9355
84		Investing													-602	-3324	4055	11720	1389	932	-311
85		Acquisitions													0	-259	-71	-521	-853	-363	-35
86		CFFI													-4874	-8195	-330	5829	-4779	-6959	-9701
87
88		SBC Taxes													-1077	-1355	-1575	-1507	-925	-1002	-1011
89		Buybacks													-3939	-7079	-13458	-20063	-9506	-5233	-6354
90		Debt																	0	0	9921
91		Other													-169	-115	-219	-172	-229	-328	-409
92		CFFF													-5185	-8549	-15252	-21742	-10660	-6563	2147
93		FX													-246	117	-215	-130	-149	-550	-364
94		CIC													1937	-3380	-1707	2061	-1512	-1875	1773
95
96		Headcount							43030	44942								71970	77805	83553	87314	86000	77114	71469	66185	67317
97		Change q/q																	5835	5748	3761	-1314	-8886	-5645	-5284	1132
98
99		FCF													7970	8635	9776	12734	8761	4669	336
100		FCF TTM																39115	39906	35940	26500
101
102		Reality Labs OI															-2631				-3672
103		Reality Labs 6mo y/y																1.0013947001394699	0.25659472422062346	0.36710369487485095	-0.14600231749710313
104
105		Family OI															13054				9336
106		Family OM%																			0.33686945226239445
107
108		Stock Price (period end)