secwatch.observer — SEC 8-K summary
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Issuer:     Snap Inc (SNAP)
CIK:        0001564408
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001564408-23-000036
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Snap Q2 revenue falls 4% YoY to $1.07B; guides Q3 revenue down 5% to flat
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- Net loss narrowed to $377M ($0.24/shr) from $422M; adjusted EBITDA was -$38M vs +$7M a year ago.
- Daily active users rose 14% YoY to 397M; Snapchat+ subscribers exceeded 4M.
- Q3 revenue forecast $1,070-$1,130M (negative 5% to flat YoY); adj. EBITDA seen at -$50M to -$100M.
- Infrastructure costs per DAU estimated at $0.79-$0.84 in Q3; modest sequential headcount growth expected.
- Ad platform transition cited; purchase conversions up >30% QoQ but forward visibility limited.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1564408/000156440823000036/0001564408-23-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1564408/000156440823000036/snap-20230725.htm
  HTML page:      https://secwatch.observer/filing/0001564408-23-000036

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