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Companies · SNAP

SNAP Reported this cycle

Snap

Santa Monica, CA Founded 2011 Media & Streaming

AI-generated · informational only · not investment advice · verify before relying.

Latest analysis

Updated Aug 4, 2026

Snap Q2 2026: 493M DAUs, $14.8B accumulated deficit, 16% headcount cut, and European Commission DSA probe signal a company under structural pressure across advertising, regulation, and operations.

Snap enters the second half of 2026 managing simultaneous headcount reduction (16% of global full-time employees, announced April 2026), a formal European Commission DSA investigation opened March 2026, and an accumulated deficit of $14.8 billion against a Q2 2026 net loss of $164.0 million. Advertising remains the dominant revenue source, exposing the company to the compounding effects of Apple ATT degradation, tariff-driven advertiser pullback, and intensifying competition from Meta, ByteDance, and Alphabet. The launch of SPECS augmented reality glasses in June 2026 signals a hardware bet that adds consumer electronics risk — supply chain volatility, inventory obsolescence, and third-party manufacturer dependence — to an already strained operating model.

Tone: defensive

Revenue

$5.9B

SNAP 10-K · FY 2025

Employees

5,261

Revenue growth YoY

+11%

Founded

2011

Profile

SNAP 10-K Item 1 · Feb 5, 2026

Snap Inc. is a technology company whose flagship product, Snapchat, is a visual messaging application that integrates augmented reality, video, voice, and creative tools for a global community. The company generates revenue primarily through advertising on the Snapchat platform, supplemented by subscription services including Snapchat+, Lens+, and Snapchat Platinum. Snap also develops AR wearable hardware through its Spectacles product line and offers developer tools such as Camera Kit and Lens Studio.

Read filing description ↓

Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. Our flagship product, Snapchat, is a visual messaging application that enhances your relationships with friends, family, and the world. Visual messaging is a fast, fun way to communicate with friends and family using augmented reality, video, voice, messaging, and creative tools. Snaps are deleted by default to mimic real-life conversations, so there is less pressure to look popular or perfect when creating and sharing content on Snapchat. By reducing the friction typically associated with creating and sharing content, Snapchat has become one of the most used cameras in the world. The camera is a powerful tool for communication and the entry point for augmented reality experiences. By opening directly to the camera, Snapchat empowers our community to express themselves instantly and offers millions of augmented reality Lenses for self expression, learning, and play. In the way that the flashing cursor became the starting point for most products on desktop computers, we believe the camera screen will be the starting point for most products on smartphones. Snapchat has evolved into a premier ecosystem where leading companies can connect with our global community in creative and trusted environments. Our AI platform allows partners to integrate with Snapchat, unlocking a powerful distribution channel that places AI directly in front of our large, engaged, and global community. Spectacles, or Specs, are our wearable AR glasses, which overlay computing over the world and extend the immersive AR Lenses experience beyond Snapchat.

Primary products

  • Snapchat
  • Snapchat+
  • Lens+
  • Snapchat Platinum
  • Memories Storage Plans
  • Snapchat for Web

End markets

Advertising Subscriptions Developer partnerships Content publishing Consumer hardware

Geographies

North America Europe Asia Australia Rest of World

Named competitors

Alphabet Google YouTube Apple ByteDance TikTok Meta Facebook
“Since our products and those of our competitors are typically free, we compete based on our brand and the quality and nature of our product offerings rather than on price.” Competitive position, as stated in the filing

Revenue commentary · FY 2025

Revenue increased 11% year-over-year to $5.9 billion in fiscal 2025 from $5.4 billion in fiscal 2024, driven by growth in advertising and subscription revenue.

The rest of SNAP is for subscribers

Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.

SeventhBiz analysis 6 signals 9 diligence answers 2 M&A transactions SWOT