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Jun 30
Snapchat Q2 2025 Earnings Report
Snap reported a Q2 2025 net loss of $263 million despite record DAUs and positive free cash flow.
Key Takeaways
Snap grew DAUs to 469 million and revenue to $1.34 billion in Q2 2025. The company posted a net loss of $263 million and an EPS of -$0.16, but turned free cash flow positive at $24 million. Global ARPU decreased slightly year-over-year as the Rest of World segment saw significant user growth.
Global DAUs reached 469 million, up 39 million YoY.
Revenue hit $1.34 billion, up 4% YoY.
Free cash flow turned positive at $24 million.
Global ARPU declined 6% YoY to $2.85.
Snapchat
Snapchat
Snapchat Revenue by Geographic Location
Revenue by Geographic Location
North America Revenue
CapyFin.comEurope Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Snap expects Q3 2025 revenue to be between $1.32 billion and $1.38 billion, with adjusted EBITDA between $50 million and $100 million.
Positive Outlook
- Continued momentum in Rest of World user growth.
- Free cash flow turned positive this quarter.
- Adjusted EBITDA expected to improve in Q3.
- Daily active users projected to increase sequentially.
- Ongoing progress in infrastructure and AR/AI investments.
Challenges Ahead
- Net loss remained high at $263 million.
- Global ARPU declined 6% YoY.
- Operating margin remains negative.
- Cost of revenue increased by 8% YoY.
- Growth in North America DAUs has stalled.
Revenue & Expenses
Visualization of income flow from segment revenue to net income