secwatch.observer — SEC 8-K summary
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Issuer:     Snap Inc (SNAP)
CIK:        0001564408
Form:       8-K
Filed at:   2025-04-29T23:59:59+00:00
Accession:  0001564408-25-000028
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Snap Q1 revenue +14% to $1.36B; DAU 460M; net loss narrows 54% to $140M
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- Revenue $1,363M, up 14% YoY; advertising rev $1,211M (DR +14%, brand -3%); Other Rev $152M (+75%, Snapchat+ subscribers ~15M).
- Net loss $140M (improved 54% YoY from $305M); Adjusted EBITDA $108M (+137% YoY); Free Cash Flow $114M.
- DAU 460M (+9% YoY); North America flat at 99M; Europe +3M to 99M; Rest of World +36M to 262M.
- Issued $1.5B senior notes 6.875% due 2033; used proceeds to repurchase $1.44B of convertible notes.
- Sponsored Snaps biddable testing contributed <$10M revenue in Q1; total active advertisers +60% YoY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1564408/000156440825000028/0001564408-25-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1564408/000156440825000028/snap-20250429.htm
  HTML page:      https://secwatch.observer/filing/0001564408-25-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer