Snap announces first quarter 2025 financial results: improved sales, lower net loss
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Snap Inc. announced financial results for the quarter ended March 31, 2025. The company reported revenue was $1,363 million, compared to $1,195 million in the prior year, an increase of 14% year-over-year. The net loss was $140 million, compared to $305 million in the prior year.
“We surpassed an important milestone in Q1, with our community growing to over 900 million monthly active users,” said Evan Spiegel, CEO. “Quarterly revenue increased 14% year-over-year, driven by the progress we have made with our direct-response advertising solutions, continued momentum in driving performance for small and medium-sized businesses, and the growth of our Snapchat+ subscription business.”
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Three Months Ended March 31, |
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Percent Change |
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2025 |
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2024 |
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(Unaudited) |
(dollars in thousands, except per share amounts) |
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Revenue |
$ |
1,363,217 |
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$ |
1,194,773 |
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14 |
% |
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Operating loss |
$ |
(193,846 |
) |
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$ |
(333,232 |
) |
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42 |
% |
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Net loss |
$ |
(139,587 |
) |
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$ |
(305,090 |
) |
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54 |
% |
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Adjusted EBITDA (1) |
$ |
108,425 |
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$ |
45,659 |
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|
137 |
% |
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Net cash provided by (used in) operating activities |
$ |
151,610 |
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$ |
88,352 |
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72 |
% |
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Free Cash Flow (2) |
$ |
114,396 |
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$ |
37,904 |
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202 |
% |
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Diluted net loss per share attributable to common stockholders |
$ |
(0.08 |
) |
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$ |
(0.19 |
) |
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58 |
% |
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See page 9 for a reconciliation of net loss to Adjusted EBITDA. Total restructuring charges for the three months ended March 31, 2024, and excluded from Adjusted EBITDA, were $70.1 million. No restructuring charges were incurred during the three months ended March 31, 2025. |
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| (2) |
See page 9 for a reconciliation of net cash provided by (used in) operating activities to Free Cash Flow. |
Q1 2025 Summary & Key Highlights
- Snap reached more than 900 million monthly active users (MAU), on the way to a goal of 1 billion MAU.
- Daily active users (DAU) were 460 million in Q1 2025, an increase of 38 million, or 9%, year-over-year.
- The total number of Snap Star Spotlight posts grew by over 125% year-over-year in Q1.
- The number of views on Spotlight posts less than 24 hours old doubled year-over-year, which contributes to a more engaging, timely, and fresh viewer experience.
- My AI DAUs grew more than 55% year-over-year in the U.S. as a result of the multimodal improvements we’ve rolled out to My AI over the past year.
- Total active advertisers grew by 60% year-over-year in Q1.
- Other Revenue, the majority of which is Snapchat+ subscription revenue, increased 75% year-over-year in Q1.