(Time) When Twitter went public back in 2013, it was an unprofitable company. More than two years later, that hasn’t changed. In fact, the company revealed in its annual 10-K filed Feb. 29 that it has lost more than $2 billion in total since launching a decade ago.
Twitter had already accrued more than $400 million in losses before going public, but that figure exploded upward after its IPO, largely due to stock-based compensation awarded to employees. The company lost $520 million in 2015 alone.
Like many companies, though, Twitter prefers to talk about adjusted earnings, which exclude stock-based compensation and some other expenses. These are the figures Wall Street investors tend to focus on. By that measure, Twitter had a net income of $277 million in 2015.
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