Snap posts stronger Q2 as revenue, cash flow climb
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Snap Inc. reported a stronger second quarter, with revenue rising 19% year over year to $1.6 billion as the company improved profitability and cash generation while continuing to expand its advertising business.
The parent company of Snapchat narrowed its quarterly net loss to $164 million from $263 million a year earlier. Adjusted EBITDA increased to $250 million, up from $41 million in the second quarter of 2025, reflecting improved operating performance despite restructuring charges during the period.
“Q2 reflects the progress we are making to strengthen our core business and build a more durable financial foundation for Snap,” said Evan Spiegel, co-founder and CEO. “We grew revenue by 19%, expanded margins, and generated positive free cash flow while improving advertising performance and rapidly growing our direct revenue business. We remain focused on serving our 971 million monthly active users, delivering measurable value for advertisers, and investing with discipline to increase free cash flow per share over time.”
Snap reported serving 971 million monthly active users during the quarter, underscoring the platform’s continued global reach. The company said it remains focused on delivering measurable results for advertisers while increasing free cash flow over time.
For the first six months of 2026, revenue rose 15% to $3.13 billion. Net loss improved 37% to $253 million, while adjusted EBITDA more than tripled to $483 million. Free cash flow reached $407 million, nearly three times the $138 million generated during the first half of 2025.
Snap did not provide detailed third-quarter financial guidance in its earnings release, saying its outlook would be discussed during its earnings conference call and in a separate investor letter.
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Three Months Ended |
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Percent |
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Six Months Ended |
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Percent |
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2026 |
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2025 |
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|
2026 |
|
2025 |
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|
|
|
|
|
|
|
|
|
|
|
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(Unaudited) |
(dollars in thousands, except per share amounts) |
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|
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Revenue |
$ |
1,598,993 |
|
|
$ |
1,344,930 |
|
|
19 |
% |
|
$ |
3,127,784 |
|
|
$ |
2,708,147 |
|
|
15 |
% |
|
Operating loss |
$ |
(170,721 |
) |
|
$ |
(259,676 |
) |
|
34 |
% |
|
$ |
(245,170 |
) |
|
$ |
(453,522 |
) |
|
46 |
% |
|
Net loss |
$ |
(163,960 |
) |
|
$ |
(262,570 |
) |
|
38 |
% |
|
$ |
(252,911 |
) |
|
$ |
(402,157 |
) |
|
37 |
% |
|
Adjusted EBITDA (1) |
$ |
249,615 |
|
|
$ |
41,270 |
|
|
505 |
% |
|
$ |
482,948 |
|
|
$ |
149,695 |
|
|
223 |
% |
|
Net cash provided by operating activities |
$ |
176,214 |
|
|
$ |
88,494 |
|
|
99 |
% |
|
$ |
502,993 |
|
|
$ |
240,104 |
|
|
109 |
% |
|
Free Cash Flow (2) |
$ |
120,538 |
|
|
$ |
23,793 |
|
|
407 |
% |
|
$ |
406,545 |
|
|
$ |
138,189 |
|
|
194 |
% |
|
Diluted net loss per share attributable to common stockholders |
$ |
(0.10 |
) |
|
$ |
(0.16 |
) |
|
38 |
% |
|
$ |
(0.15 |
) |
|
$ |
(0.24 |
) |
|
38 |
% |
| (1) |
See page 8 for a reconciliation of net loss to Adjusted EBITDA. Total restructuring charges included in our consolidated statement of operations for the three and six months ended June 30, 2026 and excluded from Adjusted EBITDA were $128.5 million. |
|
| (2) |
See page 8 for a reconciliation of net cash provided by operating activities to Free Cash Flow. |
