Headquartered in Santa Monica, CA Fiscal year ends December NYSE: SNAP snap.com
Snap Inc. is a camera-focused technology company that operates Snapchat, a visual messaging app.
Snapchat had 495 million daily active users and 977 million monthly active users in Q3 2026. Core features include camera Lenses, Chat, Stories, Spotlight short-form video, Snap Map and games.
Snap earns most of its revenue from advertising. Formats include:
- Sponsored Snaps in Chat
- Spotlight video ads
- Promoted Places on Snap Map
- Dynamic Product Ads
- Direct-response tools such as Third-Party Web Optimization and Unified Attribution
A fast-growing Other Revenue line comes from subscriptions: Snapchat+, Memories Storage and Lens+, which together have more than 30 million paid subscribers.
Snap also operates Specs Inc., a wholly-owned subsidiary developing SPECS, see-through augmented-reality glasses that combine AR with AI. Its other digital services include Bitmoji and Saturn.
Revenue is generated in North America, Europe and the Rest of World. North America accounts for the largest share of revenue, while Rest of World accounts for the majority of users. Updated
Snap is profitable again, swinging to net income after a year-ago loss because total costs grew just 1% while revenue rose 14%. Revenue came in missing expectations and Evan Spiegel admits ad growth "remains below our ambitions," so the bull case now rests on cost discipline and 30 million paid subscribers. Q4 guidance of $1.95 billion to $1.99 billion is the next test.
In Q3, we generated positive net income as revenue grew 14% year-over-year to $1.72 billion, reflecting the progress we are making to build a more profitable business.
Profitability is now the Snap story: positive net income in the third quarter at a company still valued at just $8.5 billion. Whether the ad recovery holds through the fourth quarter is the next test.
Other Revenue grew 84% year-over-year, and we surpassed 30 million paid subscribers across Snapchat+, Memories Storage, and Lens+.
Snap's non-advertising line is now compounding fast enough to matter to a company worth $8.5 billion, which cuts the dependence on a brutal digital ad market. Spiegel flagged the milestone on the third quarter earnings call.
AI is becoming a significant advantage for our teams and advertising platform, and we continue to strengthen our business while investing in our long-term vision for augmented reality with the launch of SPECS.
Spiegel is pinning Snap's next act on SPECS, launching AR glasses into a category Meta is already flooding with $299 hardware. For an $8.5 billion company, that is a costly bet riding alongside the ad platform's AI gains.
While advertising revenue growth remains below our ambitions, advertisers are seeing the benefits of our performance improvements. Our focus now is to turn these improvements into broader adoption, more meaningful share of advertiser budgets, and more durable growth.
Snap's CEO is admitting on the third quarter call that ad growth isn't keeping pace, with the pitch now resting on converting performance gains into a bigger slice of advertiser budgets. At an $8.5 billion market cap, the market is pricing Snap as a share loser while Meta and Google absorb spending.
An 8% intraday run adds roughly $700 million in market value in a single session. Moves this size are rare for a single-digit stock that has spent the year grinding sideways, so keep an eye on whether it holds into the close.
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Snap Inc. is a camera-focused technology company that operates Snapchat, a visual messaging app. Snapchat had 495 million daily active users and 977 million monthly active users in Q3 2026.
24/7 Wall St.'s 12-month price target for SNAP is $7.32, rated Buy. The Wall Street consensus target is $6.96. SNAP price prediction →
