SNAP Research | Milton Maxwell

SNAP

Snap Inc.

7.37

+0.11+1.52%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

Specs details, NA ad headwinds flagged

2/3/26Feb 3, 2026

Q&A offered fresh color on Specs, spotlighting developer traction with AR chemistry labs and video streaming, plus plans for a standalone brand and potential capital raises post-launch. Evan flagged persistent North America large-customer ad headwinds amid SMB momentum, crediting memory storage plans for subscriber surge and retention. Regulatory age curbs risk engagement but not revenue, as under-18 impressions prove immaterial. AI generates 40% of new code, fueling productivity. Answers largely reaffirmed prepared remarks' profitable pivot. Watch Specs rollout and NA ad recovery.

Key Stats

Market Cap

12.67B

P/E (TTM)

Basic EPS (TTM)

-0.29

Dividend Yield

Recent Filings

10-K

FY2025 results

2/5/26Feb 5, 2026

Snap Inc. posted FY2025 revenue of $5.9B, up 11% y/y, with advertising up due to 17% impression growth in Sponsored Snaps and Spotlight, offset by 10% lower cost per impression; other revenue doubled on subscription gains. Q4 DAUs hit 474M, +5% y/y, while ARPU rose to $3.62 from $3.44. Net loss narrowed to $460M from $698M, Adjusted EBITDA climbed to $690M, and Free Cash Flow turned $437M positive. Debt stands at $3.5B across notes maturing 2026-2034, with $1.05B Credit Facility undrawn; $500M buyback completed Q4. Q4 accelerated user growth yet faces privacy regs crimping ad targeting.

8-K

Snap Q4 beats, $500M buyback

2/4/26Feb 4, 2026

Snap Inc. posted Q4 revenue of $1,716M, up 10% year-over-year, with gross margin hitting 59% and net income of $45M. Board authorized $500M Class A stock buyback over 12 months to counter RSU dilution, backed by $2.9B cash pile. Buybacks may flex with market conditions.

8-K

McRae joins Snap board

12/8/25Dec 8, 2025

Snap expanded its board from 11 to 12 members, appointing Matthew McRae—CEO of Arlo Technologies—effective December 4, 2025. McRae brings hardware-software expertise from VIZIO and NETGEAR to aid Snap's innovation push. No committee roles yet. Leadership adds tech depth.

10-Q

Q3 FY2025 results

11/6/25Nov 6, 2025

Snap posted Q3 revenue of $1.51B, up 10% y/y from $1.37B, with advertising up 5% to $1.32B and other revenue (Snapchat+) doubling to $190M; operating loss narrowed to $128M from $173M while gross margin held at 55%. Cash from operations hit $146M, yielding $93M free cash flow (derived: ops cash minus $53M capex), up from $72M, with $3B in cash and equivalents but $3.5B debt after issuing $550M 2034 senior notes at 6.875% to fund convertible note repurchases that booked a $30M gain. North America drove 58% of revenue. Platform lawsuits pose ongoing litigation risk.

8-K

Q3 beats, $500M buyback

11/5/25Nov 5, 2025

Snap Inc. posted Q3 revenue up 10% to $1,507 million with DAU at 477 million, up 8%, and net loss slashed 32% to $104 million. Board greenlit $500 million Class A buyback to counter RSU dilution, funded by $3.0 billion cash pile, over 12 months. Strong cash flow bolsters balance sheet.

About

Snap Inc. operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images. It also provides Snapchat+, a subscription service that provides subscribers access to exclusive, experimental, and pre-release features; Spectacles, an eyewear product; and advertising products, including AR ads and Snap ads comprises a single image or video ads, collection ads, dynamic ads, story ads, commercials, sponsored snaps, and promoted places. The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Santa Monica, California.

CEO

Mr. Evan T. Spiegel

IPO

3/2/2017

Website

https://www.snap.com

Employees

5,194

Sector

Communication Services

Industry

Internet Content & Information