Q4 2025 revenue grew 10% year-over-year to $1.72 billion, with net income rising to $45 million from $9 million a year ago and full-year revenue up 11% to $5.93 billion.
Monthly active users reached 946 million, up 6% year-over-year, and daily active users increased by 5% year-over-year.
Strategic focus on monetizable markets, AI-driven ad platform, and subscription growth underpinned results, with engagement deepened by new AR and AI-powered features.
Adjusted EBITDA for Q4 was $358 million, up 30% year-over-year, with margin expanding to 21%.
Board authorized a $500 million stock repurchase program to offset dilution from employee stock awards.
Q4 gross margin expanded to 59%, up from 57% in Q4 2024.
Q4 operating income was $50 million, reversing a loss of $27 million in Q4 2024.
Q4 free cash flow was $206 million, up from $182 million a year ago; cash and marketable securities ended at $2.9 billion.
Q4 average revenue per user was $3.62, up from $3.44 in the prior year.
Full-year net loss narrowed to $460 million from $698 million; full-year adjusted EBITDA was $689 million (12% margin), up from $509 million (9% margin) in 2024.
Q1 2026 revenue guidance is $1.5–$1.53 billion, excluding Perplexity integration.
Adjusted EBITDA for Q1 2026 expected between $170–$190 million.
Full-year 2026 infrastructure costs guided at $1.6–$1.65 billion; adjusted operating expenses estimated at $3 billion.
Management highlighted ongoing macroeconomic and geopolitical uncertainties that may impact future results.
Focus remains on accelerating top-line growth, diversifying revenue, and expanding gross margins.
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The Snapchat originator Snap Inc is a technology company that is known for its social media platform, Snapchat. The company also develops other technology products, including augmented reality software and hardware devices.
Snap Inc is a technology company that is known for its social media platform, Snapchat. The company also develops other technology products, including augmented reality software and hardware devices.
Snap Inc generates the majority of its revenue from advertising on its Snapchat platform. The company's self-serve advertising platform allows advertisers to target specific demographics and geographic locations, making it a popular destination for marketers looking to reach a younger audience.
In addition to its social media operations, Snap Inc is also focused on developing augmented reality technology and hardware devices. The company's Snap Spectacles, which are sunglasses that allow users to record video and photos, have been a popular product among Snapchat users. Snap Inc has also been developing augmented reality technology, which allows users to overlay digital images onto the real world.
Snap Inc operates in a highly competitive technology industry, with other public companies such as Meta, Google, and Twitter also offering similar services. The company has faced challenges in growing its user base and maintaining user engagement, particularly as competitors introduce similar features on their own platforms.
Snap Inc was founded in 2011 by Evan Spiegel and Bobby Murphy while they were students at Stanford University. The company's headquarters are located in Venice, California, and feature a range of unique design elements, including a slide and a beach volleyball court. Snap Inc has been involved in a range of philanthropic initiatives, including its partnership with (RED) to raise funds for the fight against AIDS. The company has also been recognized for its commitment to diversity and inclusion, with a focus on hiring employees from underrepresented backgrounds.
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