Snap announces fourth quarter increased 14%

Snap Inc. announced full-year revenue was $5,361 million in 2024, compared to $4,606 million in the prior year, an increase of 16% year-over-year. Net loss was $698 million in 2024, compared to $1.322 billion in the prior year. Fourth-quarter revenue was $1,557 million, compared to $1,361 million in the prior year, an increase of 14% year-over-year and net income was $9 million, compared to a net loss of $248 million in the prior year.

“In 2024 we made significant progress on our core priorities of growing our community and improving depth of engagement, driving top line revenue growth and diversifying our revenue sources, while building toward our long-term vision for augmented reality,” said Evan Spiegel, CEO. “Active advertisers more than doubled in Q4, with the improvements we have made to our advertising platform driving improved advertiser performance and helping to grow revenue 14% year-over-year.”

Q4 2024 Summary & Key Highlights

We deepened engagement with our community:

• DAUs were 453 million in Q4 2024, an increase of 39 million, or 9% year-over-year.
• More than one billion Snaps were shared publicly on Snapchat every month in Q4 from our community, creators, and media partners.
• We continue to support and grow the number of creators in our Snap Star program, which led to an over 40% year-over-year increase in the number of creators posting content on Snapchat in Q4.
• We launched new Bitmoji stickers showcasing the latest trends for Snapchatters to react and express themselves visually.
• We announced new location sharing features in Family Center, our in-app hub for parental tools and resources, making it easier than ever for families to stay connected while out and about.

We are focused on accelerating and diversifying our revenue growth:

• Ongoing momentum with our direct response products and growth in small- and medium-size businesses contributed to total active advertisers more than doubling year-over-year in Q4.
• In Q4, Sponsored Snaps and Promoted Places grew the number of unique Snapchatters reached by advertising partners, delivering a 30% increase in reach on average in the US.
• Other Revenue, the majority of which is Snapchat+ subscription revenue, grew 131% year-over-year in 2024 and exited the year with an annualized revenue run rate well over $500 million.
• We launched new and early access Snapchat+ features including Footsteps, which helps Snapchatters keep track of the places they’ve visited on the Snap Map and new app themes and custom backgrounds.
• We announced our new unified Monetization Program for creators that allows eligible creators to monetize Spotlight videos, building on our Stories Revenue Share Program that helps creators monetize their Stories.
• We launched our first branded Dreams AI Lens with partners like Uber Eats and Tinder, and the immersive experience led to increased engagement compared to standard Lenses.

We invested in our augmented reality platform:

• Over 200 million Spotlight videos have been created this year featuring Lenses made by our talented community of Lens Creators.
• More than 400 million Snapchatters engaged with new Gen AI Lenses more than 4 billion times in Q4.
• We launched our first-ever Pre-Generated AI Lens, a groundbreaking update that significantly reduces GPU utilization during generation.
• Lens Studio has now been downloaded more than 1 million times.
• The number of Snaps with Lenses that our community posted on Snapchat in Q4 increased 49% year-over-year and the number of Snaps with Lenses sent between friends and family increased 40% year-over-year.

We are building the next generation AR operating system for Spectacles:

• We launched a new version of Snap OS, which includes new Lenses that showcase the power of the Spectacles camera and SnapML, as well as platform features and capabilities to better build and experiment.
• We introduced new first-party Lenses that help our community learn how to play piano through interactive courses and practice soccer shots through SnapML tracking models, and games that can be played with family and friends.
• Developers have already built advanced Lenses for Snap OS that help our community master the art of calligraphy, make better shots in pool, and turn outdoor walks into interactive adventures.
• We introduced more than a dozen new developer tools, including an Image Spatialization API that leverages generative AI to convert 2D images into 3D, and Spectacles Sync Kit, an improved framework that makes it easier for developers to build shared AR experiences with a new Typescript package.
• We expanded Spectacles’ availability beyond the United States to developers in six new countries: Austria, France, Germany, Italy, Netherlands, and Spain.
• We announced Challenge Tags, a new way for Snap AR developers to be rewarded for their creativity by submitting Lenses which are judged on their originality, technical excellence, and theme focus.
• To ensure Spectacles is accessible to students, teachers, and staff from colleges and universities across the world, we introduced educational pricing and a special student discount for a subscription fee of $49.50 or €55 a month.