Snap Inc. Earnings Call Transcripts
Fiscal Year 2026
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The event unveiled Specs, advanced AR glasses designed for comfort, immersive visuals, and seamless integration of digital content into daily life. New developer tools, AI features, and monetization options were introduced, with Specs priced at $2,195 and shipping this fall.
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Q1 2026 delivered 12% revenue growth, improved margins, and strong gains in subscriptions and SMB ad spend. Guidance for Q2 anticipates continued revenue acceleration, cost reductions, and ongoing regulatory and geopolitical headwinds.
Fiscal Year 2025
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Q4 2025 saw 10% revenue growth, 59% gross margin, and net income profitability, driven by strong SMB ad demand and a 71% increase in subscribers. Strategic focus on monetizable markets, AI-driven ads, and new products like Specs positions the business for continued profitable growth.
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Q3 saw 10% revenue growth to $1.51B, 8% DAU growth, and a 30%+ reduction in net loss. SMB ad demand and direct revenue streams drove results, while regulatory and internal changes are expected to impact Q4 DAU. A $400M Perplexity AI partnership and new AR products highlight innovation.
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Monthly active users rose 7% year-over-year to 932 million, with revenue up 9% to $1.34 billion, driven by SMB advertisers and new ad formats. AR and subscription products showed strong growth, while Q2 was impacted by ad platform issues and increased costs.
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The meeting focused on presenting the results of a written consent action, electing eleven directors and ratifying Ernst & Young LLP as auditor for 2025. No questions were received from stockholders, and results will be reported to the SEC.
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Q1 saw 14% revenue growth to $1.36B, driven by direct response ads and Snapchat Plus, with adjusted EBITDA of $108M and free cash flow of $114M. User growth continued, but macro uncertainty led to cautious guidance and cost reductions.
Fiscal Year 2024
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Q4 2024 saw 14% revenue growth to $1.56B, driven by DR ads and Snapchat+ subscriptions, with DAUs reaching 453M. Adjusted EBITDA rose to $276M, and net income turned positive. SMBs led ad growth, while new ad formats and AR/AI innovation support future momentum.
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Q3 saw 15% revenue growth to $1.37B, driven by DR ads and Snapchat+ subscriptions, with DAUs up 37M year-over-year. Adjusted EBITDA rose to $132M, and net loss improved by 58%. Q4 guidance projects 11–15% revenue growth, with ongoing innovation and a new $500M share repurchase program.
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The summit introduced a streamlined Snapchat experience, advanced AI-powered creative tools, and the 5th generation Spectacles AR glasses. New features empower creators, enhance safety, and expand AR capabilities, while partnerships and developer tools foster innovation and community growth.
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Q2 saw 16% revenue growth to $1.24B, driven by strong DR advertising and Snapchat+ subscriptions, while brand advertising remained weak. Adjusted EBITDA improved to $55M, and DAU reached 432M. Q3 guidance expects continued growth from DR and subscriptions, with no major rebound in brand ads.
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The meeting focused on electing ten directors and ratifying Ernst & Young LLP as auditor, with over 99% of voting power represented. No shareholder questions were submitted, and all agenda items were approved by written consent.