Snap Inc.
- Open
- 5.55
- Day high
- 5.69
- Day low
- 5.43
- Prev close
- 5.43
- Volume
- 42.4M
- Mkt cap
- $9.4B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 4.9
- P/S
- 1.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$13.4M over the last 3 months (0 open-market buys, 9 sales)
- 🏛Institutions accumulating (13F)
Snap Inc. (SNAP) is a Communication Services company listed on NYSE. The stock is down 25% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 9 sales (SEC Form 4).
Snap Inc. (SNAP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 13 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SNAP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 3, 2026 | $-0.12 | $-0.10 | +17.9% | $1.6B | +3.9% |
| May 6, 2026 | $-0.06 | $-0.05 | +16.7% | $1.5B | +0.1% |
| Feb 4, 2026 | $0.15 | $0.18 | +20.0% | $1.7B | +10.7% |
| Nov 5, 2025 | $-0.12 | $0.06 | +149.2% | $1.5B | +1.1% |
| Apr 29, 2025 | $-0.13 | $0.04 | +130.0% | $1.4B | +1.3% |
| Feb 4, 2025 | $0.14 | $0.16 | +14.3% | $1.6B | +0.6% |
| Aug 1, 2024 | $-0.16 | $0.02 | +112.8% | $1.2B | -1.2% |
| Apr 25, 2024 | $-0.26 | $0.03 | +111.7% | $1.2B | +6.6% |
| Feb 6, 2024 | $0.07 | $0.08 | +14.3% | $1.4B | -1.0% |
| Jul 25, 2023 | $-0.01 | $-0.02 | -53.5% | $1.1B | +1.0% |
| Apr 27, 2023 | $0.00 | $0.01 | +262.3% | $989M | -2.8% |
| Jan 31, 2023 | $0.10 | $0.14 | +40.0% | $1.3B | -1.6% |
SNAP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 19, 2026 | Mohan Ajitofficer: Chief Business Officer | Sell | 54,608 | $5.20 |
| Aug 19, 2026 | Morrow Rebeccaofficer: Chief Accounting Officer | Sell | 17,336 | $5.20 |
| Aug 19, 2026 | Hott Douglasofficer: Chief Financial Officer | Sell | 131,884 | $5.20 |
| Aug 19, 2026 | Briers Zachary Mofficer: General Counsel | Sell | 136,504 | $5.20 |
| Aug 19, 2026 | Briers Zachary Mofficer: General Counsel | Sell | 67,540 | $5.08 |
| Aug 11, 2026 | MILLER SCOTT Ddirector | Grant | 46,905 | — |
| Aug 11, 2026 | Lanzone Jamesdirector | Grant | 46,905 | — |
| Aug 11, 2026 | Wood Lukedirector | Grant | 46,905 | — |
| Aug 11, 2026 | Jenkins Elizabethdirector | Grant | 46,905 | — |
| Aug 11, 2026 | MCRAE MATTHEW BLAKEdirector | Grant | 46,905 | — |
| Aug 11, 2026 | Lynton Michaeldirector | Grant | 46,905 | — |
| Aug 11, 2026 | Vargas Fideldirector | Grant | 46,905 | — |
| Aug 11, 2026 | Coles Joannadirector | Grant | 46,905 | — |
| Aug 11, 2026 | Morrow Rebeccaofficer: Chief Accounting Officer | Grant | 65,081 | — |
| Aug 11, 2026 | Thorpe Poppydirector | Grant | 46,905 | — |
Source: SNAP SEC Form 4 filings, latest Aug 19, 2026. For informational purposes only — not investment advice.
See the full SNAP insider & 13F page →Snap Inc. company profile
Overview
Snap Inc. (NYSE:SNAP) is a technology company founded in 2010 by Evan Spiegel, Bobby Murphy, and Reggie Brown while they were students at Stanford University. Originally known as Snapchat Inc., the company rebranded to Snap Inc. in 2016 to reflect its broader ambitions beyond the core messaging app. The company went public in March 2017 and is headquartered in Santa Monica, California. Snap positions itself as a "camera company" that has evolved from a simple disappearing photo messaging app into a comprehensive visual communication platform serving over 900 million monthly active users globally, with particular strength among younger demographics.
Business
Snap Inc. operates in the social media and digital advertising industry, with its primary offering being Snapchat, a multimedia messaging application that enables users to send photos and videos that disappear after viewing. The platform's core functionality revolves around visual communication through several key features: Snapchat serves as the company's flagship product, offering a camera-first interface where users can capture, edit, and share visual content. The app includes several distinct features: the Camera function for taking photos and videos with various filters and effects; Communication tools for direct messaging; Snap Map for location sharing; Stories where users post content visible to friends for 24 hours; and Spotlight, a short-form video feed similar to TikTok that showcases user-generated content. The company also develops Spectacles, smart eyewear that connects to Snapchat and captures photos and videos from a first-person perspective. Currently in its fifth generation, Spectacles represents Snap's long-term vision for augmented reality (AR) computing, though it remains primarily focused on developers rather than mass consumer adoption. Snap's business operates through two main revenue segments: Advertising revenue accounts for approximately 88-90% of total revenue, while Other revenue (primarily Snapchat+ subscriptions) represents 10-12%. The advertising business focuses heavily on direct response advertising, which comprises about 75% of total advertising revenue, while brand-oriented advertising makes up the remainder. Snapchat+ is a premium subscription service offering enhanced features and customization options that has grown to over 14 million subscribers.
Revenue model
Snap generates revenue through two primary business models. The dominant revenue stream comes from digital advertising, where businesses pay to display ads within the Snapchat platform. This includes various ad formats such as Snap Ads (single image or video advertisements), Story Ads, Collection Ads, Dynamic Ads, Commercials, and newer formats like Sponsored Snaps and Promoted Places. The company has particularly focused on direct response advertising, where advertisers pay based on specific user actions like app installs, purchases, or lead generation, as this segment has shown stronger growth and resilience. The secondary revenue stream is subscription-based through Snapchat+, where users pay a monthly fee for premium features like custom app icons, exclusive filters, priority customer support, and advanced privacy controls. This segment has demonstrated rapid growth, more than doubling year-over-year to reach $152 million in quarterly revenue. Snap's advertising customers range from large multinational brands to small and medium-sized businesses (SMBs). The company has increasingly focused on the SMB segment, which has shown more consistent growth and less sensitivity to macroeconomic conditions. The platform serves advertisers across various industries including gaming, e-commerce, entertainment, and consumer goods. Several factors influence Snap's profitability margins. Positive factors include the company's young, engaged user base that is attractive to advertisers; improvements in machine learning and AI capabilities that enhance ad targeting and performance; the growth of higher-margin subscription revenue; and ongoing investments in measurement and attribution tools that justify advertising spend. Negative factors include intense competition from larger platforms like Meta and TikTok; macroeconomic pressures that reduce advertising budgets, particularly for brand campaigns; platform policy changes (such as Apple's iOS privacy updates) that limit ad targeting capabilities; and the significant infrastructure costs required to support video content and AR features. The company also faces pressure from the need to continuously invest in content creator payments, new product development, and maintaining competitive feature parity with larger rivals.
Competitive moat
Snap's competitive moat is moderate but vulnerable, built primarily around user engagement patterns and demographic positioning rather than strong structural advantages. The company's strongest moat element is its user base concentration among younger demographics, particularly Generation Z users who have grown up with the platform and developed ingrained usage habits around its unique features like disappearing messages and AR filters. This creates some switching costs as users have invested time in building friend networks and content libraries within the ecosystem. The company's early investment in augmented reality technology provides a technical moat, with over 375,000 AR creators building 4 million lenses and sophisticated AR capabilities that competitors have struggled to replicate at scale. Snap's camera-first interface and innovative features like Snap Map and Spectacles demonstrate product differentiation that has influenced broader industry trends. However, Snap's moat faces significant challenges. The company operates in a highly competitive landscape dominated by much larger players like Meta (Facebook/Instagram) and ByteDance (TikTok), which have substantially greater resources for feature development, content creator payments, and user acquisition. These competitors have successfully copied many of Snap's innovations, such as Stories (adopted by Instagram) and AR filters. Unlike platforms with strong network effects, Snap's social graph is not as sticky - users can easily maintain relationships across multiple platforms. The company also lacks the scale advantages of its competitors in advertising technology and data collection, making it harder to offer the same targeting precision and measurement capabilities that large advertisers demand. With roughly 460 million daily active users compared to Meta's billions, Snap cannot offer the same reach, which limits its appeal for major brand campaigns. The platform's dependence on external infrastructure providers and third-party app stores also creates additional vulnerabilities that more vertically integrated competitors don't face.
Risks & safety
Snap presents a moderate margin of safety with reasonable financial stability but ongoing profitability challenges and elevated valuation metrics. **Cash and Debt Position:** - Strong liquidity position with $911 million in cash and short-term investments as of Q1 2025 - Current ratio of 4.3x indicates solid short-term financial health - Debt-to-equity ratio of 1.82x shows moderate leverage but manageable debt levels - Positive free cash flow of $114 million in Q1 2025, demonstrating improved cash generation **Profitability and Cash Flow:** - Still generating net losses ($140 million in Q1 2025) but showing path toward profitability - Positive adjusted EBITDA of $108 million in Q1 2025 indicates operational progress - Operating cash flow positive at $152 million, showing underlying business health - Revenue growth of 14% year-over-year demonstrates continued business expansion **Valuation Concerns:** - Price-to-book ratio of 6.4x suggests elevated valuation relative to book value - Negative trailing EBITDA makes traditional valuation metrics challenging - Stock trading below recent highs, indicating market skepticism about growth prospects **Other Considerations:** - Heavy dependence on advertising revenue creates cyclical risk during economic downturns - Intense competition from larger, better-resourced platforms poses ongoing competitive threats - Regulatory risks around data privacy and content moderation could impact operations
Recent development
Over the past few years, Snap has undertaken several strategic initiatives to diversify revenue and strengthen its competitive position. The company launched Snapchat+ as a subscription service, which has grown rapidly to over 14 million subscribers and now generates over $150 million in quarterly revenue, providing a more stable revenue stream beyond advertising. In advertising technology, Snap has focused heavily on improving its direct response advertising platform through enhanced machine learning models and better conversion tracking. The company introduced new ad formats including Sponsored Snaps and Promoted Places, while expanding optimization capabilities for small and medium-sized businesses. This SMB focus has become a key strategic priority as these advertisers have shown more consistent growth than large brand advertisers. The company has made significant investments in artificial intelligence and machine learning, launching My AI chatbot that has processed over 20 billion messages from 200+ million users. Snap has also integrated AI capabilities into content creation tools and launched generative AI features in its Lens Studio platform for AR development. A major product initiative has been the development of Simple Snapchat, a redesigned user experience that consolidates the app's functionality into three core areas. This represents a significant architectural change aimed at improving user engagement and ad inventory management, though rollout has been cautious due to potential disruption to existing user patterns. On the hardware front, Snap introduced its fifth-generation Spectacles with advanced AR capabilities, though these remain focused on developers rather than consumers. The company has also expanded its partnership with Google Cloud and continued investing in AR infrastructure to support its long-term vision of augmented reality computing becoming mainstream.
SNAP company profile · for informational purposes only — not investment advice.
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