Jun 2026 (Q2 FY26) — Aug 3, 2026
Snap Inc. Q2 FY26 — Strong Revenue Growth and Improved Profitability Driven by Ad Platform and AI Efficiencies
Read the full callSnap (SNAP) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Snap earnings: last reported Mon, 3 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,599 | +18.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -10.7 | +8.6 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -164 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
26 of 26 judged targets kept · 14 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted operating expenses (full-year guidance) | approximately $3 billion | Dec 2025 | We also continue to expect full year adjusted operating expenses of approximately $2.75 billion and stock-based compensation of approximately $1.05 billion. | Revised Up |
| Adjusted EBITDA | $170 million to $190 million | Dec 2025 | Pending |
14 of Snap Inc's 40 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 38 more targets are in the full ledger.
Claimed
- Revenue increased 19% year-over-year to $1.6 billion, exceeding expectations.
- Adjusted EBITDA grew by $208 million year-over-year to $250 million, reflecting significant operating leverage.
- Free cash flow reached $121 million in Q2 and $706 million over the past 12 months, marking eight consecutive quarters of positive FCF.
- Other revenue, primarily from Snapchat+ and Lens+, surged 85% year-over-year to $316 million.
- AI-powered Smart Campaign Solutions drove an 8% decline in cost per install and an 18% decline in cost per purchase for app advertisers.
Qualified
- Full year infrastructure cost guidance was raised to $1.65 billion-$1.70 billion from $1.60 billion-$1.65 billion due to increased AI/ML investments.
- Q3 revenue guidance of $1.70 billion-$1.74 billion implies a deceleration from Q2's 19% growth, partly due to the normalization of World Cup spending.
- The company continues to monitor evolving legal and regulatory landscape, which may result in significant changes to products, increased compliance, and legal costs.
Price
$6.44 +5.57% · +$0.34
Performance −18.7% 1Y
1Y: $7.92 on 14 Oct 2025 → $6.44. High $9.09 (12 Nov 2025), low $3.93 (27 Mar 2026).
- Previous close
- $6.1
- 52-week range
- $3.93 – $9.09
- One year
- −18.58%
Overview
- Symbol
- SNAP
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
26 of 26 judged targets kept · 14 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted operating expenses (full-year guidance) | approximately $3 billion | Dec 2025 | We also continue to expect full year adjusted operating expenses of approximately $2.75 billion and stock-based compensation of approximately $1.05 billion. | Revised Up |
| Adjusted EBITDA | $170 million to $190 million | Dec 2025 | Pending |
Claimed
- Revenue increased 19% year-over-year to $1.6 billion, exceeding expectations.
- Adjusted EBITDA grew by $208 million year-over-year to $250 million, reflecting significant operating leverage.
- Free cash flow reached $121 million in Q2 and $706 million over the past 12 months, marking eight consecutive quarters of positive FCF.
- Other revenue, primarily from Snapchat+ and Lens+, surged 85% year-over-year to $316 million.
- AI-powered Smart Campaign Solutions drove an 8% decline in cost per install and an 18% decline in cost per purchase for app advertisers.
Qualified
- Full year infrastructure cost guidance was raised to $1.65 billion-$1.70 billion from $1.60 billion-$1.65 billion due to increased AI/ML investments.
- Q3 revenue guidance of $1.70 billion-$1.74 billion implies a deceleration from Q2's 19% growth, partly due to the normalization of World Cup spending.
- The company continues to monitor evolving legal and regulatory landscape, which may result in significant changes to products, increased compliance, and legal costs.
The full ledger
Open Snap Inc’s full ledger
A free account opens 5 company ledgers a month. All 40 tracked commitments, with each call’s wording and source.
Call summaries
Every analysed call
Snap earnings calls (SNAP)
Financials
What the filings say
Net profit, year on year: +38% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,373 | 1,557 | 1,363 | 1,345 | 1,507 | 1,716 | 1,529 | 1,599 |
| Expenses | 1,546 | 1,584 | 1,557 | 1,605 | 1,635 | 1,667 | 1,603 | 1,770 |
| Operating profit | -173 | -27 | -194 | -260 | -128 | 50 | -74 | -171 |
| Operating margin | −12.6% | −1.7% | −14.2% | −19.3% | −8.5% | 2.9% | −4.9% | −10.7% |
| Interest | 6 | 6 | 23 | 28 | 34 | 36 | 37 | 37 |
| Profit before tax | -145 | 14 | -131 | -255 | -103 | 38 | -86 | -161 |
| Tax rate | −5.8% | 36.2% | −6.4% | −3.0% | −0.5% | −19.1% | −3.7% | −1.5% |
| Net profit | -153 | 9 | -140 | -263 | -104 | 45 | -89 | -164 |
| EPS ($ per share) | -0.09 | — | -0.08 | -0.16 | -0.06 | — | -0.05 | -0.10 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | -5,913 | -6,946 | -7,892 | -8,284 | -10,215 | -11,727 | -12,735 | -13,947 |
| Total liabilities | 403 | 1,752 | 2,694 | 3,746 | 5,449 | 5,554 | 5,486 | 5,396 |
| Fixed assets | 213 | 174 | 179 | 203 | 272 | 410 | 489 | 578 |
| Investments | 892 | 1,592 | 1,992 | 1,699 | 2,516 | 1,764 | 2,330 | 1,910 |
| Total assets | 2,714 | 4,012 | 5,024 | 7,536 | 8,030 | 7,968 | 7,936 | 7,678 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -690 | -305 | -168 | 293 | 185 | 247 | 413 | 656 |
| Cash from investing | 694 | -729 | -730 | 90 | -1,062 | 571 | -717 | 173 |
| Cash from financing | 47 | 1,166 | 923 | 1,065 | 307 | -459 | -429 | -848 |
| Capital expenditure | -120 | -36 | -58 | -70 | -129 | -212 | -195 | -219 |
| Free cash flow | -810 | -341 | -225 | 223 | 55 | 35 | 219 | 437 |
SNAP revenue by segment
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|
| Reportable | 100% | 100% | 100% | 100% | 100% | 100% | +18.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- North America 57% ↓ 4 pt
- US 55% ↓ 4 pt
- Europe 22% ↑ 5 pt
- Rest Of World 21% ↓ 1 pt
As SNAP cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
91 filings between Oct 16, 2025 and Sep 18, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$110.65M
55 sales by 8 insiders
65% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 21
- Award — granted as compensation
Also filed: 8 other filings, 7 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Murphy Robert C. | — | $63.71M | Aug 6, 2026 |
| Spiegel Evan | — | $35.27M | Apr 8, 2026 |
| Briers Zachary M | — | $3.35M | Sep 3, 2026 |
| Mohan Ajit | — | $3.08M | Sep 16, 2026 |
| Hott Douglas | — | $2.03M | Aug 17, 2026 |
| Andersen Derek | — | $1.82M | Mar 16, 2026 |
| O'Sullivan Michael J. | — | $776.6K | Nov 17, 2025 |
| Morrow Rebecca | — | $611.5K | Sep 9, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 18, 2026 | Harris Ronan Chief Commercial Officer | Award | 3,353,150 | $0 |
| Sep 16, 2026 | Mohan Ajit Chief Business Officer | Sale | 6,797 | $39.6K |
| Sep 9, 2026 | Morrow Rebecca Chief Accounting Officer | Sale 10b5-1 plan | 20,000 | $107.0K |
| Sep 3, 2026 | Briers Zachary M General Counsel | Sale 10b5-1 plan | 11,257 | $67.5K |
| Aug 19, 2026 | Briers Zachary M General Counsel | Sale 10b5-1 plan | 67,540 | $343.1K |
| Aug 17, 2026 | Morrow Rebecca Chief Accounting Officer | Sale | 17,336 | $90.1K |
| Aug 17, 2026 | Hott Douglas Chief Financial Officer | Sale | 131,884 | $685.5K |
| Aug 17, 2026 | Briers Zachary M General Counsel | Sale 10b5-1 plan | 136,504 | $709.5K |
| Aug 17, 2026 | Mohan Ajit Chief Business Officer | Sale | 54,608 | $283.8K |
| Aug 7, 2026 | Coffey Kelly Director | Award | 46,905 | $0 |
| Aug 7, 2026 | Spence Patrick Director | Award | 46,905 | $0 |
| Aug 7, 2026 | Thorpe Poppy Director | Award | 46,905 | $0 |
| Aug 7, 2026 | Morrow Rebecca Chief Accounting Officer | Award | 65,081 | $0 |
| Aug 7, 2026 | Coles Joanna Director | Award | 46,905 | $0 |
| Aug 7, 2026 | MILLER SCOTT D Director | Award | 46,905 | $0 |
| Aug 7, 2026 | Wood Luke Director | Award | 46,905 | $0 |
| Aug 7, 2026 | MCRAE MATTHEW BLAKE Director | Award | 46,905 | $0 |
| Aug 7, 2026 | Vargas Fidel Director | Award | 46,905 | $0 |
| Aug 7, 2026 | Jenkins Elizabeth Director | Award | 46,905 | $0 |
| Aug 7, 2026 | Lynton Michael Director | Award | 46,905 | $0 |
| Aug 7, 2026 | Lanzone James Director | Award | 46,905 | $0 |
| Aug 6, 2026 | Murphy Robert C. Chief Technology Officer | Gift 10b5-1 plan | 1,223,340 | $0 |
| Aug 6, 2026 | Murphy Robert C. Chief Technology Officer | Sale 10b5-1 plan | 2,000,000 | $10.50M |
| Aug 5, 2026 | Murphy Robert C. Chief Technology Officer | Sale 10b5-1 plan | 2,000,000 | $11.11M |
| Jul 16, 2026 | Mohan Ajit Chief Business Officer | Sale | 24,263 | $114.5K |
| Jun 25, 2026 | Murphy Robert C. Chief Technology Officer | Other 10b5-1 plan | 2,866,669 | $0 |
| Jun 25, 2026 | Murphy Robert C. Chief Technology Officer | Other 10b5-1 plan | 2,533,231 | $0 |
| Jun 25, 2026 | Murphy Robert C. Chief Technology Officer | Other 10b5-1 plan | 2,866,669 | $0 |
| Jun 25, 2026 | Murphy Robert C. Chief Technology Officer | Other 10b5-1 plan | 333,438 | $0 |
| Jun 25, 2026 | Murphy Robert C. Chief Technology Officer | Other 10b5-1 plan | 333,438 | $0 |
| Jun 25, 2026 | Murphy Robert C. Chief Technology Officer | Other 10b5-1 plan | 2,533,231 | $0 |
| Jun 17, 2026 | Wood Luke Director | Award | 13,186 | $0 |
| Jun 16, 2026 | Mohan Ajit Chief Business Officer | Sale | 6,923 | $38.7K |
| Jun 4, 2026 | Briers Zachary M General Counsel | Sale 10b5-1 plan | 11,958 | $71.7K |
| May 29, 2026 | Murphy Robert C. Chief Technology Officer | Sale 10b5-1 plan | 343,945 | $2.02M |
| May 19, 2026 | Hott Douglas Chief Financial Officer | Sale 10b5-1 plan | 114,702 | $650.5K |
| May 19, 2026 | Briers Zachary M General Counsel | Sale 10b5-1 plan | 71,745 | $406.8K |
| May 19, 2026 | Morrow Rebecca Chief Accounting Officer | Sale 10b5-1 plan | 3,570 | $20.5K |
| May 19, 2026 | Morrow Rebecca Chief Accounting Officer | Award 10b5-1 plan | 41,119 | $0 |
| May 18, 2026 | Mohan Ajit Chief Business Officer | Sale | 44,785 | $250.8K |
| May 18, 2026 | Morrow Rebecca Chief Accounting Officer | Sale 10b5-1 plan | 16,729 | $93.7K |
| May 18, 2026 | Hott Douglas Chief Financial Officer | Sale 10b5-1 plan | 124,209 | $695.7K |
| May 18, 2026 | Briers Zachary M General Counsel | Sale 10b5-1 plan | 129,493 | $725.2K |
| May 14, 2026 | Murphy Robert C. Chief Technology Officer | Sale 10b5-1 plan | 2,000,000 | $10.56M |
| May 14, 2026 | Murphy Robert C. Chief Technology Officer | Gift 10b5-1 plan | 1,202,533 | $0 |
| May 13, 2026 | Murphy Robert C. Chief Technology Officer | Sale 10b5-1 plan | 2,000,000 | $10.88M |
| May 9, 2026 | Hott Douglas Chief Financial Officer | Award | 2,450,659 | $0 |
| Apr 16, 2026 | Mohan Ajit Chief Business Officer | Sale | 28,058 | $168.9K |
| Apr 15, 2026 | Briers Zachary M General Counsel | Sale 10b5-1 plan | 11,437 | $69.1K |
| Apr 8, 2026 | Spiegel Evan Chief Executive Officer | Sale 10b5-1 plan | 1,000,000 | $5.04M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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