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SNAP

Snap Inc.

SNAP

Snap Inc. • NYSE
$7.66 ▲ 0.59% (+0.04)
Market Cap $12.92 B
52w High $13.28
52w Low $6.90
Dividend Yield 0%
P/E -26.4
Volume 34.85M
Outstanding Shares 1.69B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.507B ▲ $960.981M ▲ $-103.541M ▲ -6.871% ▲ $-0.061 ▲ $-26.023M ▲
Q2-2025 $1.345B ▼ $951.273M ▲ $-262.57M ▼ -19.523% ▼ $-0.16 ▼ $-187.277M ▼
Q1-2025 $1.363B ▼ $917.484M ▲ $-139.587M ▼ -10.24% ▼ $-0.08 ▼ $-70.044M ▼
Q4-2024 $1.557B ▲ $912.5M ▲ $9.101M ▲ 0.584% ▲ $0.005 ▲ $59.659M ▲
Q3-2024 $1.373B $906.877M $-153.247M -11.165% $-0.092 $-100.182M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.993B ▲ $7.578B ▲ $5.351B ▲ $2.227B ▲
Q2-2025 $2.893B ▼ $7.399B ▼ $5.33B ▲ $2.069B ▼
Q1-2025 $3.207B ▼ $7.589B ▼ $5.278B ▼ $2.311B ▼
Q4-2024 $3.376B ▲ $7.936B ▲ $5.486B ▲ $2.451B ▲
Q3-2024 $3.192B $7.591B $5.381B $2.21B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-103.541M ▲ $146.488M ▲ $-107.913M ▼ $-12.013M ▲ $27.344M ▲ $93.444M ▲
Q2-2025 $-262.57M ▼ $88.494M ▼ $215.439M ▲ $-291.075M ▼ $12.858M ▲ $23.793M ▼
Q1-2025 $-139.587M ▼ $151.61M ▼ $2.754M ▲ $-288.519M ▼ $-134.155M ▼ $114.396M ▼
Q4-2024 $9.101M ▲ $230.633M ▲ $-148.792M ▲ $0 ▼ $81.841M ▲ $182.358M ▲
Q3-2024 $-153.247M $115.872M $-222.811M $10.304M $-96.635M $71.831M

Revenue by Products

Product Q2-2018Q1-2025Q2-2025Q3-2025
Advertising Revenue
Advertising Revenue
 $0 ▲$1.21Bn ▲$1.17Bn ▼$1.32Bn ▲
Other Revenue
Other Revenue
 $0 ▲$150.00M ▲$170.00M ▲$190.00M ▲
Advertising
Advertising
 $260.00M ▲$0 ▼$0 ▲$0 ▲
Partner Sold Advertising
Partner Sold Advertising
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Product And Service Other
Product And Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Snap Sold Advertising
Snap Sold Advertising
 $250.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Snap’s sales have more than doubled over the past few years and recently returned to solid growth after a flat patch. The company is clearly able to attract advertisers and keep users engaged. However, it still has not reached consistent profitability. Operating losses and net losses remain meaningful, even though they are shrinking. In simple terms, the business is scaling, unit economics are improving, but the company is still spending heavily relative to what it earns, so it remains in the red on an earnings basis.

Balance Sheet

Balance Sheet Snap’s balance sheet shows a sizable base of assets and a healthy level of total equity, but also a significant amount of debt. Cash has come down from earlier peaks yet remains substantial, which gives the company some flexibility. The combination of notable debt and continuing losses means the balance sheet is not risk‑free, but it is not overly fragile either. Future comfort will depend on maintaining positive cash generation and managing that debt load carefully as it matures.

Cash Flow

Cash Flow Despite accounting losses, Snap has been consistently generating cash from its operations in recent years, and free cash flow has turned positive and is gradually improving. Capital spending is relatively modest, so most operating cash can flow through after investments. This suggests the core business is healthier than the income statement alone might imply, helped by non‑cash expenses like stock‑based compensation. The key question is whether Snap can sustain and grow this positive cash flow while pushing for profitability.

Competitive Edge

Competitive Edge Snap occupies a distinct niche in social media, with a stronghold among younger users and a focus on private, visual, and ephemeral communication. Its brand is closely tied to authenticity and close‑friend interactions, which differentiates it from more public, feed‑based platforms. At the same time, it faces intense competition for attention and ad dollars from much larger players like Meta and TikTok, which benefit from greater scale and resources. Snap’s advantage lies in engagement depth with its core audience, but its smaller size and reliance on digital advertising leave it more exposed to market cycles, ad budget shifts, and rivals’ product copying.

Innovation and R&D

Innovation and R&D Snap invests heavily in new technology, especially augmented reality and AI. Its Lenses, filters, Lens Studio ecosystem, and Snap Map all showcase a strong culture of experimentation. The push into AR glasses (Specs) and the integration of AI features like “My AI” signal a long‑term bet on new ways people will interact with cameras and digital content. The Snapchat+ subscription is another notable innovation, aiming to diversify revenue beyond advertising. These efforts could strengthen Snap’s differentiation and open new revenue streams, but they require ongoing high R&D and product investment, with uncertain payoff timing and adoption.

Summary

Overall, Snap is a fast‑growing, innovation‑driven company that has carved out a clear identity with younger users and pushed the frontier in augmented reality. Financially, it has moved into a phase where cash generation looks healthier, but profitability is still not in place and losses persist. The balance sheet carries meaningful debt but still has a reasonable cushion. Strategically, Snap’s future hinges on turning its AR and AI leadership, creator ecosystem, and subscription offerings into durable, profitable growth while competing in a highly crowded social and advertising landscape. The trajectory is promising but still carries execution, competitive, and monetization risks.

NEWS

November 26, 2025 · 11:00 AM UTC

Recent SNAP Disruptions Highlight Urgent Need for Sustained Action Against Food Insecurity

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November 6, 2025 · 7:39 AM UTC

USANA Foundation Mobilizes Hundreds from the Community to Pack 3,000 Food Bags for Utah Families Affected by SNAP Cutbacks

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November 5, 2025 · 4:10 PM UTC

Snap Inc. Announces Third Quarter 2025 Financial Results

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November 4, 2025 · 7:30 AM UTC

IAS and Snap Announce Expansion of Measurement Partnership to Validate Ad Effectiveness in Sponsored Snaps

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October 22, 2025 · 5:13 PM UTC

Halper Sadeh LLC Encourages Snap Inc. Shareholders to Contact the Firm to Discuss Their Rights

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