← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Snap grew revenue 10.6% to $5.93B and nearly doubled free cash flow to $437.2M, while still losing $460.5M; other revenue, mostly subscriptions, supplied half of the $570.0 million revenue increase
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 10.6% to $5.93B, after 16.4% the year beforeNote
- Profitability — Operating loss of $532.2M; net loss narrowed 34.0% to $460.5MWatch
- Cash flow — Free cash flow up 99.9% to $437.2MOK
- Balance sheet — $3.5 billion of notes against $2.9 billion of cash and securitiesWatch
- Accounting — Distress-zone balance-sheet score; no manipulation flag; earnings quality safeWatch
- Control — Two co-founders hold over 99% of the voting powerWatch
Business
Snap makes Snapchat, a camera-first visual messaging app with five tabs (Camera, Visual Messaging, Snap Map, Stories, Spotlight), and sells advertising against it, plus Snapchat+, Lens+ and Snapchat Platinum subscriptions. Daily active users averaged 474 million in the fourth quarter of 2025, up 21 million from a year earlier, and quarterly revenue per user went from $3.44 to $3.62.
Where the revenue comes from
Fiscal 2025, as Snap Inc reports it. History and quarterly detail are in the app.
- Advertising Revenue$5.2B
- Other Revenue$745.4M
Leadership changes
From Snap Inc's own filings, the day they're filed.
- Ajit Mohan · Chief Business Officer · departureeff. 2026-09-03
- Luke Wood · directors · appointmenteff. 2026-05-20
- Derek Andersen · Chief Financial Officer · departureeff. 2026-04-17
Latest filings
- 8-K · Company announcement2026-09-08
- 10-Q · Quarterly report2026-08-04
- 8-K · Company announcement2026-08-03
- 8-K · Company announcement2026-07-09
- 8-K · Company announcement2026-05-20
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Snap Inc, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
14-day free trial, no credit card. For research purposes only; not investment advice.