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Sep 30, 2025
Snapchat Q3 2025 Earnings Report
Snapchat reported a 10% year-over-year revenue increase and narrowed its net loss in Q3 2025.
Key Takeaways
Snap Inc. posted $1.51 billion in revenue for Q3 2025 with improved adjusted EBITDA and free cash flow. Despite a net loss, the company showed strength in user growth and subscription revenue.
Revenue grew 10% YoY to $1.51 billion.
Net loss improved to $103.5 million from $153.2 million a year ago.
Adjusted EBITDA rose 38% YoY to $182 million.
Snapchat+ revenue (in 'Other Revenue') grew 54% YoY to $190 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Snapchat will provide its Q4 2025 outlook in the earnings call and investor letter. No specific figures were disclosed in the press release.
Positive Outlook
- Q3 2025 ARPU improved across all geographies.
- Snapchat+ revenue saw strong YoY growth.
- User growth continued with both DAU and MAU increases.
- Free cash flow and operating cash flow improved YoY.
- Adjusted EBITDA margin expanded to 12%.
Challenges Ahead
- Company still operated at a net loss.
- North America DAUs declined YoY.
- No numerical Q4 2025 guidance provided.
- Operating income remains negative.
- Cost structure remains high with large R&D and G&A expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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