Revenue grew 9% year-over-year to $1.345B in Q2 2025, with monthly active users up 7% to 932M and daily active users up 9% to 469M, driven by AR and content engagement.
Net loss widened to $263M from $249M year-over-year, while adjusted EBITDA declined to $41M from $55M.
Operating cash flow improved to $88M from negative $21M, and free cash flow turned positive at $24M from negative $73M.
Significant investments in AI, AR, and new creator tools, including new AR Lenses and a Snapchat app for Apple Watch.
Announced public launch of AR glasses (Specs) in 2026.
Q2 2025 revenue: $1.345B, up 9% year-over-year; six-month revenue: $2.71B, up 11%.
Net loss: $263M in Q2 2025 vs. $249M in Q2 2024; diluted net loss per share of $(0.16).
Adjusted EBITDA: $41M, down from $55M year-over-year.
Cash, cash equivalents, and marketable securities totaled $2.9B as of June 30, 2025.
Operating cash flow for six months: $240.1M, up from $67M year-over-year.
Q3 DAU guidance: ~476M; Q3 revenue guidance: $1.475B–$1.505B; adjusted EBITDA guidance: $110M–$135M.
Full-year infrastructure cost per DAU guidance: $0.82–$0.87; adjusted operating expenses: $2.65B–$2.7B.
Stock-based compensation guidance lowered to $1.1B–$1.13B for the year.
Management expects continued macroeconomic headwinds, competition for ad dollars, and ongoing impacts from platform policy changes.
Forward-looking statements caution substantial risks and uncertainties.
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The Snapchat originator Snap Inc is a technology company that is known for its social media platform, Snapchat. The company also develops other technology products, including augmented reality software and hardware devices.
Snap Inc is a technology company that is known for its social media platform, Snapchat. The company also develops other technology products, including augmented reality software and hardware devices.
Snap Inc generates the majority of its revenue from advertising on its Snapchat platform. The company's self-serve advertising platform allows advertisers to target specific demographics and geographic locations, making it a popular destination for marketers looking to reach a younger audience.
In addition to its social media operations, Snap Inc is also focused on developing augmented reality technology and hardware devices. The company's Snap Spectacles, which are sunglasses that allow users to record video and photos, have been a popular product among Snapchat users. Snap Inc has also been developing augmented reality technology, which allows users to overlay digital images onto the real world.
Snap Inc operates in a highly competitive technology industry, with other public companies such as Meta, Google, and Twitter also offering similar services. The company has faced challenges in growing its user base and maintaining user engagement, particularly as competitors introduce similar features on their own platforms.
Snap Inc was founded in 2011 by Evan Spiegel and Bobby Murphy while they were students at Stanford University. The company's headquarters are located in Venice, California, and feature a range of unique design elements, including a slide and a beach volleyball court. Snap Inc has been involved in a range of philanthropic initiatives, including its partnership with (RED) to raise funds for the fight against AIDS. The company has also been recognized for its commitment to diversity and inclusion, with a focus on hiring employees from underrepresented backgrounds.
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