Snap
Maker of Snapchat; its ad platform is a secondary source of clicks for social-to-search buyers.
Santa Monica, California, USA · founded 2011 · forbusiness.snapchat.com
SNAP NYSE
What Snap does
Snap sells full-screen ads inside Snapchat, an app used mostly by younger people. Search arbitrage buyers use it to diversify away from Meta: the mechanics are the same, with a swipe on an ad leading to an article and its related searches.
Trackers support it directly. RedTrack, for example, lists a Snapchat conversion API among its integrations, so that revenue can be reported back to Snap's bidding system.
How it makes money
Advertising inside Snapchat, plus a subscription tier.
Where it meets invalid traffic
A young audience means cheap clicks that may be worth less to the search advertiser, which shows up later as lower revenue per click or as deductions.
Products
- Snapchat Ads Manager
- Snap Pixel
- Conversions API
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 Q2 revenue jumps 19%, narrows net loss, free cash flow turns positive
Snap reported Q2 2026 revenue of $1,599 million, up 19% year-over-year from $1,345 million. The company posted a net loss of $164 million, an improvement from last year's $263 million loss. Adjusted EBITDA surged to $250 million from $41 million, and free cash flow rose to $121 million from $24 million. Snap did not provide specific Q3 guidance in the release, stating it would discuss its outlook during the earnings call.
Snap's strong revenue growth and improved profitability metrics suggest its advertising and direct revenue businesses are rebounding. The shift to positive free cash flow and a smaller net loss indicate better cost control and operational efficiency.
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 |