Revenue grew 10% year-over-year to $1.51 billion in Q3 2025, with daily active users up 8% to 477 million and monthly active users up 7% to 943 million, progressing toward the 1 billion MAU goal.
Net loss narrowed to $104 million from $153 million year-over-year, and adjusted EBITDA rose 38% to $182 million.
Free cash flow improved to $93 million, and cash, cash equivalents, and marketable securities totaled $3.0 billion at quarter-end.
Significant investments in AI, AR, and new monetization products, including Snapchat+, Lens+, and memory storage plans.
A $500 million stock repurchase program was authorized, funded by $3.0 billion in cash and equivalents.
Q3 revenue was $1,507 million, up from $1,373 million year-over-year; ARPU increased to $3.16 from $3.10.
Adjusted EBITDA margin improved to 12% in Q3; gross margin was 55%, up from 53% year-over-year.
Free cash flow for the trailing 12 months was $414 million; operating cash flow was $146 million.
Other revenue, mainly from Snapchat+ subscriptions, rose 54% year-over-year to $190 million.
Ended Q3 with $3 billion in cash and marketable securities.
Q4 revenue guidance is $1.68–$1.71 billion, implying 8%–10% year-over-year growth.
Adjusted EBITDA expected between $280 million and $310 million in Q4.
Infrastructure costs per DAU expected to rise modestly in Q4; full-year adjusted operating expenses to be near the low end of $2.65–$2.7 billion.
Anticipates DAU may decline in Q4 due to regulatory and internal changes.
Management expects continued competition for advertising dollars and potential revenue headwinds from platform policy changes and macroeconomic factors.
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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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