Snap
Maker of Snapchat, selling ads between Stories, in Spotlight and through AR lenses.
Santa Monica, California, USA · founded 2011 · forbusiness.snapchat.com
SNAP NYSE
What Snap does
Snap makes Snapchat, the camera-first messaging app popular with teens and young adults. It sells full-screen vertical video ads between Stories and in its Spotlight feed, sponsored augmented-reality lenses, and ads in chat.
Like Meta it is a walled garden, but smaller, so it leans on measurement partnerships and its own conversion API to prove results to advertisers, especially after Apple's App Tracking Transparency changes hit its targeting in 2021.
How it makes money
Mostly advertising sold by auction, plus a growing Snapchat+ subscription.
Where it meets invalid traffic
Screens for fake accounts and invalid engagement in-app and works with outside verification partners on brand safety and viewability.
Products
- Snap Ads
- Sponsored AR Lenses
- Spotlight ads
- Snap Conversions API
- Snapchat+
Quarterly revenue
From SEC XBRL filings · latest quarter +18.9% year on yearQuarterly net income
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.1B | $4.6B | $4.6B | $5.4B | $5.9B |
| Net income | $-488M | $-1.4B | $-1.3B | $-697.9M | $-460.5M |
| Diluted EPS | $-0.31 | $-0.89 | $-0.82 | $-0.42 | $-0.27 |
Earnings, explained
Snap's Q2 revenue jumps 19% as losses narrow, free cash flow turns positive
Snap reported second quarter 2026 revenue of $1,599 million, up 19% year-over-year. The company posted a net loss of $164 million, an improvement from a $263 million loss a year ago. Adjusted EBITDA rose sharply to $250 million from $41 million, and free cash flow increased to $121 million from $24 million. Snap did not provide specific Q3 guidance in the release, but said it would discuss its outlook during its earnings call.
Snap's strong revenue growth and improved profitability metrics suggest its advertising business is rebounding and cost controls are working. This points to healthier fundamentals for Snap and may signal improving conditions in the digital ad market.
SEC filings
EDGAR| Filed | Form | What it is |
|---|---|---|
| 2026-09-08 | 8-K | Executive or director change |
| 2026-08-04 | 10-Q | Quarterly report |
| 2026-08-03 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2026-07-09 | 8-K | Other events · Financial statements and exhibits |
| 2026-05-20 | 8-K | Executive or director change · Financial statements and exhibits |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-05-07 | 8-K/A | Executive or director change · Financial statements and exhibits |
| 2026-05-06 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2026-04-20 | 8-K | Executive or director change |
| 2026-04-15 | 8-K | Results of operations (earnings) · Restructuring costs · Regulation FD disclosure · Financial statements and exhibits |
| 2026-02-05 | 10-K | Annual report |
| 2026-02-04 | 8-K | Results of operations (earnings) · Other events · Financial statements and exhibits |
| 2025-12-08 | 8-K | Executive or director change · Financial statements and exhibits |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-11-05 | 8-K | Results of operations (earnings) · Other events · Financial statements and exhibits |
| 2025-09-04 | 8-K | Executive or director change |