SNAP

MKT CAP:$10B

Snap Inc.

Market Cap

$10B

Communication Services·Internet Content & Information·🇺🇸 United States·NYSE

Communication·Internet·🇺🇸·NYSE

Stock Price

$5.84-$2.29 (-28.17%)

Apr 22, 2026

Company Details

Snap Inc. operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enabl...

CEO

Evan T. Spiegel

IPO Date

Mar 2, 2017

Website

www.snap.com

Key Metrics TTM

Revenue

$5.8B

+11.7% YoY

Net Income

-$497M

EPS (Diluted)

-$0.30

Free Cash Flow

$414M

Revenue / Share

$3.40

Gross Margin

54.3%

Operating Margin

-10.5%

Net Margin

-8.6%

FCF Margin

7.2%

P/S

1.7x

P/E

—

Earnings Reports

Q4 2025

May 5, 2026

PENDING

FY 2025

Feb 4, 2026

$5.9B+10.6%EPS -$0.27

Q3 2025

Nov 5, 2025

$1.5B+9.8%EPS -$0.06

Q2 2025

Aug 5, 2025

$1.3B+8.7%EPS -$0.16

Q1 2025

Apr 29, 2025

$1.4B+14.1%EPS -$0.08

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$1.3B	$849M	-$25M
Q1 22	$1.1B	$642M	-$272M
Q2 22	$1.1B	$665M	-$401M
Q3 22	$1.1B	$662M	-$435M
Q4 22	$1.3B	$818M	-$288M
Q1 23	$989M	$549M	-$365M
Q2 23	$1.1B	$571M	-$404M
Q3 23	$1.2B	$633M	-$380M
Q4 23	$1.4B	$740M	-$249M
Q1 24	$1.2B	$620M	-$333M
Q2 24	$1.2B	$648M	-$254M
Q3 24	$1.4B	$734M	-$173M
Q4 24	$1.6B	$886M	-$27M
Q1 25	$1.4B	$724M	-$194M
Q2 25	$1.3B	$692M	-$260M
Q3 25	$1.5B	$833M	-$128M

Valuation

Quarter	P/S	P/E
Q4 21	18.3x	—
Q1 22	13.3x	—
Q2 22	5.2x	—
Q3 22	3.4x	—
Q4 22	3.2x	—
Q1 23	4.0x	—
Q2 23	4.4x	—
Q3 23	3.2x	—
Q4 23	6.2x	—
Q1 24	3.8x	—
Q2 24	5.3x	—
Q3 24	3.5x	—
Q4 24	3.4x	—
Q1 25	2.6x	—
Q2 25	2.6x	—
Q3 25	2.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$186M	$161M
Q1 22	$127M	$106M
Q2 22	-$124M	-$147M
Q3 22	$56M	$18M
Q4 22	$125M	$78M
Q1 23	$151M	$103M
Q2 23	-$82M	-$119M
Q3 23	$13M	-$61M
Q4 23	$165M	$111M
Q1 24	$88M	$38M
Q2 24	-$21M	-$73M
Q3 24	$116M	$72M
Q4 24	$231M	$182M
Q1 25	$152M	$114M
Q2 25	$88M	$24M
Q3 25	$146M	$93M

Capital Expenditures

Quarter	CapEx
Q4 21	$25M
Q1 22	$21M
Q2 22	$23M
Q3 22	$38M
Q4 22	$47M
Q1 23	$48M
Q2 23	$37M
Q3 23	$73M
Q4 23	$54M
Q1 24	$50M
Q2 24	$52M
Q3 24	$44M
Q4 24	$48M
Q1 25	$37M
Q2 25	$65M
Q3 25	$53M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+42.4%	+31.2%
Q1 22	+38.1%	+24.3%
Q2 22	+13.1%	+28.7%
Q3 22	+5.7%	+25.3%
Q4 22	+0.1%	+20.0%
Q1 23	-7.0%	+1.5%
Q2 23	-3.9%	-2.6%
Q3 23	+5.3%	+0.3%
Q4 23	+4.7%	+1.4%
Q1 24	+20.9%	+12.9%
Q2 24	+15.8%	+1.3%
Q3 24	+15.5%	-1.5%
Q4 24	+14.4%	-1.6%
Q1 25	+14.1%	+1.9%
Q2 25	+8.7%	+7.6%
Q3 25	+9.8%	+5.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$298M	22.9%
Q1 22	$275M	25.9%
Q2 22	$319M	28.7%
Q3 22	$343M	30.4%
Q4 22	$451M	34.7%
Q1 23	$315M	31.9%
Q2 23	$318M	29.8%
Q3 23	$358M	30.1%
Q4 23	$333M	24.5%
Q1 24	$264M	22.1%
Q2 24	$259M	21.0%
Q3 24	$260M	19.0%
Q4 24	$258M	16.6%
Q1 25	$247M	18.1%
Q2 25	$252M	18.7%
Q3 25	$260M	17.3%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 21	$434M	$194M	$245M
Q1 22	$456M	$216M	$242M
Q2 22	$505M	$249M	$311M
Q3 22	$564M	$262M	$270M
Q4 22	$585M	$226M	$295M
Q1 23	$455M	$190M	$268M
Q2 23	$478M	$217M	$281M
Q3 23	$495M	$221M	$297M
Q4 23	$484M	$229M	$276M
Q1 24	$450M	$227M	$276M
Q2 24	$406M	$229M	$266M
Q3 24	$413M	$221M	$273M
Q4 24	$423M	$241M	$248M
Q1 25	$424M	$227M	$253M
Q2 25	$443M	$250M	$258M
Q3 25	$453M	$251M	$256M

Revenue Segments

Quarter	Advertising Revenue	Other Revenue
Q1 25	$1.2B	$152M
Q2 25	$1.2B	$171M
Q3 25	$1.3B	$190M

Revenue by Geography

Quarter	Europe	North America	Rest Of World
Q4 21	$204M	$911M	$183M
Q1 22	$159M	$749M	$154M
Q2 22	$175M	$775M	$161M
Q3 22	$163M	$804M	$161M
Q4 22	$216M	$877M	$207M
Q1 23	$156M	$633M	$200M
Q2 23	$179M	$671M	$217M
Q3 23	$195M	$771M	$222M
Q4 23	$242M	$878M	$242M
Q1 24	$200M	$733M	$261M
Q2 24	$235M	$742M	$260M
Q3 24	$241M	$826M	$305M
Q4 24	$280M	$935M	$342M
Q1 25	$223M	$805M	$335M
Q2 25	$254M	$804M	$286M
Q3 25	$286M	$870M	$351M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.4B	$2.6B	$5.0B
Q2 22	$2.3B	$2.6B	$4.9B
Q3 22	$1.9B	$2.5B	$4.4B
Q4 22	$1.4B	$2.5B	$3.9B
Q1 23	$1.6B	$2.5B	$4.1B
Q2 23	$1.2B	$2.5B	$3.7B
Q3 23	$1.2B	$2.4B	$3.6B
Q4 23	$1.8B	$1.8B	$3.5B
Q1 24	$1.1B	$1.9B	$2.9B
Q2 24	$1.1B	$2.0B	$3.1B
Q3 24	$965M	$2.2B	$3.2B
Q4 24	$1.0B	$2.3B	$3.4B
Q1 25	$911M	$2.3B	$3.2B
Q2 25	$926M	$2.0B	$2.9B
Q3 25	$953M	$2.0B	$3.0B
Q4 25	$1.0B	$1.9B	$2.9B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	1.67B	+5.6%	+12.4%
Q1 22	1.62B	-3.0%	+7.8%
Q2 22	1.63B	+0.8%	+5.5%
Q3 22	1.61B	-1.4%	+1.7%
Q4 22	1.57B	-2.2%	-5.7%
Q1 23	1.58B	+0.5%	-2.3%
Q2 23	1.60B	+1.4%	-1.8%
Q3 23	1.63B	+1.4%	+1.1%
Q4 23	1.64B	+0.8%	+4.1%
Q1 24	1.65B	+0.5%	+4.2%
Q2 24	1.64B	-0.2%	+2.6%
Q3 24	1.66B	+1.1%	+2.3%
Q4 24	1.72B	+3.3%	+4.8%
Q1 25	1.70B	-1.2%	+3.0%
Q2 25	1.67B	-1.3%	+1.8%
Q3 25	1.70B	+1.3%	+2.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$229.3K	6K
Q1 22	$187.7K	6K
Q2 22	$196.2K	6K
Q3 22	$199.3K	6K
Q4 22	$245.8K	5K
Q1 23	$187.0K	5K
Q2 23	$201.9K	5K
Q3 23	$224.8K	5K
Q4 23	$257.4K	5K
Q1 24	$225.9K	5K
Q2 24	$233.8K	5K
Q3 24	$259.5K	5K
Q4 24	$317.1K	5K
Q1 25	$277.6K	5K
Q2 25	$273.9K	5K
Q3 25	$306.8K	5K

Revenue / Employee