Financial Performance - Revenue for Q2 2025 was $1,344.93 million, an increase of 8.7% compared to $1,236.77 million in Q2 2024[29] - Net loss for Q2 2025 was $262.57 million, compared to a net loss of $248.62 million in Q2 2024, representing a 5.4% increase in losses year-over-year[29] - Operating loss for the first half of 2025 was $453.52 million, down from $587.21 million in the same period of 2024, indicating a 22.8% improvement[29] - The company reported a total comprehensive loss of $250.39 million for Q2 2025, compared to a loss of $246.60 million in Q2 2024[32] - Basic net loss per share for Q2 2025 was $(0.16), compared to $(0.15) in Q2 2024[29] - The company reported a net loss of $262,570,000 for Q2 2025, compared to a net loss of $248,620,000 in Q2 2024[54] - The accumulated deficit increased to $13,638,191,000 by the end of Q2 2025, up from $12,591,315,000 at the end of Q2 2024[54] - Total stockholders' equity at the end of Q2 2025 was $1,727,927,000, compared to $1,702,107,000 at the end of Q2 2024[54] - Net loss for the three and six months ended June 30, 2025 was $262.6 million and $402.2 million respectively, compared to $248.6 million and $553.7 million for the same periods in 2024, reflecting a dollar change of $13.95 million (6%) and $151.55 million (27%) respectively[176]. Revenue Breakdown - Total revenue for Q2 2025 reached $1,344,930,000, a 8.7% increase from $1,236,768,000 in Q2 2024[54] - Advertising revenue for Q2 2025 was $1,173,548,000, up 3.7% from $1,132,067,000 in Q2 2024[54] - Other revenue increased significantly to $171,382,000 in Q2 2025, compared to $104,701,000 in Q2 2024, representing a 63.6% growth[54] - For the first half of 2025, total revenue was $2,708,147,000, a 11.4% increase from $2,431,541,000 in the same period of 2024[54] - North America accounted for $804,395,000 in revenue for Q2 2025, a 8.5% increase from $741,588,000 in Q2 2024[55] - Revenue from Europe in Q2 2025 was $254,209,000, up 8.1% from $235,186,000 in Q2 2024[55] - Revenue from the Rest of the World reached $286,326,000 in Q2 2025, a 10.1% increase from $259,994,000 in Q2 2024[55] Cash Flow and Liquidity - Cash provided by operating activities for the first half of 2025 was $240.10 million, significantly up from $66.98 million in the first half of 2024[27] - Cash and cash equivalents at the end of Q2 2025 were $928.94 million, a decrease from $1,065.03 million at the end of Q2 2024[35] - Total cash and cash equivalents amounted to $925,973 thousand, a decrease from $1,060,551 thousand as of June 30, 2024[117] - Cash, cash equivalents, and marketable securities totaled $2.9 billion as of June 30, 2025[135] - Free Cash Flow for the six months ended June 30, 2025, was $138.2 million, a significant improvement from $(35.5) million for the same period in 2024[192] Expenses and Costs - Total costs and expenses for Q2 2025 were $1,604.6 million, compared to $1,490.7 million in Q2 2024[135] - Research and development expenses for Q2 2025 were $443.33 million, up from $406.20 million in Q2 2024, reflecting a 9.1% increase[29] - Infrastructure costs for Q2 2025 were $393.3 million, up from $349.8 million in Q2 2024[128] - Sales and marketing expenses for the three months ended June 30, 2025, were $257,853, a decrease of $8,467 (3%) compared to $266,320 in 2024[168] - General and administrative expenses for the three months ended June 30, 2025, were $250,095, an increase of $20,789 (9%) compared to $229,306 in 2024[169] Debt and Financing - As of June 30, 2025, total debt amounted to $3,575.972 million, a decrease from $3,643.929 million as of December 31, 2024, reflecting a reduction of approximately 1.9%[90] - The total interest expense for the six months ended June 30, 2025, was $48.715 million, compared to $7.250 million for the same period in 2024, indicating a significant increase[92] - The company repurchased and retired 57.3 million shares of Class A common stock for $500.6 million during the six months ended June 30, 2025[67] - The company repurchased $800 million in aggregate principal amount of the 2028 Notes in February 2025, resulting in a total cash repurchase price of $1.4 billion, which was $190.1 million below the carrying value of the repurchased notes[85] Strategic Initiatives - The company is focusing on three strategic priorities: community growth, revenue diversification, and augmented reality investment[132] - The company emphasizes rapid innovation and prioritizes long-term user engagement over short-term profitability, which may lead to operating losses[223] Legal and Regulatory Matters - The U.S. Federal Trade Commission has referred a complaint regarding the My AI feature to the Department of Justice, which could lead to uncertain legal proceedings that may harm the business[217] - The company is currently involved in various legal proceedings, but does not expect these to materially affect its financial condition or operations[218] Market and Economic Factors - Substantially all revenue is generated from advertising, which is affected by competitive challenges and changes in privacy laws, potentially threatening the primary revenue stream[224] - The impact of privacy and data protection laws has negatively affected the company's targeting and measurement capabilities, which may continue to impact operating results[225] - The advertising business is seasonal, volatile, and cyclical, leading to fluctuations in quarterly revenues and operating results[225]

Core Insights - Snap reported $1.34 billion in revenue for Q2 2025, marking an 8.8% year-over-year increase, with an EPS of -$0.01 compared to $0.02 a year ago, indicating a significant EPS surprise of -200% against the consensus estimate [1] - The revenue exceeded the Zacks Consensus Estimate by 0.66%, reflecting a positive performance in terms of revenue [1] Financial Performance - Daily Active Users (DAU) reached 469 million, slightly above the average estimate of 467.95 million [4] - Average Revenue Per User (ARPU) globally was $2.87, slightly below the estimate of $2.88 [4] - DAU in North America was 98 million, below the estimate of 99.04 million; in Europe, DAU was 100 million, above the estimate of 99.56 million; and in the Rest of World, DAU was 271 million, exceeding the estimate of 269.74 million [4] - Geographic revenue for Europe was $265.34 million, surpassing the estimate of $251.93 million, representing a year-over-year increase of 10.9% [4] - Revenue from the Rest of World was $258.99 million, below the estimate of $289.5 million, but still showing a year-over-year increase of 12.7% [4] - North America revenue was $820.6 million, exceeding the estimate of $799.56 million, with a year-over-year increase of 6.9% [4] Market Performance - Snap's shares returned +3.1% over the past month, outperforming the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - Snap reported a quarterly loss of $0.01 per share, matching the Zacks Consensus Estimate, but down from earnings of $0.02 per share a year ago, indicating an earnings surprise of -200.00% [1] - The company posted revenues of $1.34 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.66% and up from $1.24 billion year-over-year [2] Group 1: Financial Performance - Snap's quarterly loss of $0.01 per share represents a significant decline compared to the previous year's earnings of $0.02 per share [1] - The company has surpassed consensus revenue estimates four times over the last four quarters, with the latest revenue figure of $1.34 billion [2] - The current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $1.47 billion, and for the current fiscal year, it is $0.26 on revenues of $5.84 billion [7] Group 2: Market Position and Outlook - Snap shares have underperformed the market, losing about 12.1% since the beginning of the year, while the S&P 500 has gained 7.6% [3] - The Zacks Industry Rank places the Internet - Software sector in the top 32% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - The estimate revisions trend for Snap was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting expected outperformance in the near future [6]

Financial Data and Key Metrics Changes - Revenue increased by 9% year over year to reach $1,340,000,000 in Q2, driven primarily by growth from small and medium customers and lower funnel objectives [7][28] - Adjusted EBITDA was $41,000,000 in Q2 compared to $55,000,000 in Q2 of the prior year, with a net loss of $263,000,000 in Q2 compared to a net loss of $249,000,000 in the prior year [32][33] - Free cash flow was $24,000,000 in Q2, while operating cash flow was $88,000,000, with trailing twelve months free cash flow at $392,000,000 [33] Business Line Data and Key Metrics Changes - Advertising revenue reached $1,174,000,000 in Q2, up 4% year over year, primarily driven by growth in Doctor advertising revenue, which increased by 5% year over year [28][29] - Other revenue increased by 64% year over year to reach $171,000,000, with Snapchat Plus subscribers approaching 16,000,000, marking a 42% year-over-year increase [31] - Time spent on Spotlight grew by 23% year over year, contributing more than 48% of total time spent watching content [13] Market Data and Key Metrics Changes - Monthly active users (MAU) reached 932,000,000 in Q2, an increase of 64,000,000 or 7% year over year [6] - Daily active users (DAU) reached 469,000,000, an increase of 37,000,000 or 9% year over year [27] - North America MAU was flat year over year at 159,000,000, while unique SNAP senders grew by 2% year over year [27] Company Strategy and Development Direction - The company is focused on growing its community, enhancing value for advertisers, and investing in augmented reality (AR) [6][10] - A new distributed structure for engineering teams aims to better align technology investments with business priorities [10] - The introduction of Lens Plus, a new subscription tier, aims to enhance user engagement and drive revenue growth [8][31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in Q2 related to ad platform changes and the timing of Ramadan, but expressed optimism about recovery and growth in advertising revenue [28][42] - The company anticipates continued growth in DAU and revenue, with Q3 guidance for revenue set between $1,475,000,000 and $1,505,000,000 [34] - Management emphasized the importance of building demand for new ad units like sponsored snaps, which are expected to contribute significantly to revenue growth [30][72] Other Important Information - The company has committed over $3,000,000,000 to develop a vertically integrated AR platform over the past eleven years [9] - Snapchatters engage with AR Lenses more than 8,000,000,000 times each day, highlighting the platform's strong engagement [15] - The company repurchased 30,000,000 shares at a cost of $243,000,000 in Q2 to manage the impact of stock-based compensation on share count [33] Q&A Session Summary Question: Insights on sponsored snaps and auction pricing issue - Management highlighted that sponsored snaps have driven significant growth in reach and conversions for advertisers, with early signs of positive engagement [40] - The auction pricing issue in Q2 was attributed to changes in the ad platform, which have since been reverted, leading to improved ad revenue growth [42][45] Question: Brand advertising performance - Brand advertising revenue was flat in Q2, with the majority of deceleration observed in Doctor advertising revenue [50] Question: Long-term vision for AR and specs - The company is committed to reinventing computing through AR, with a fully integrated stack that differentiates it from competitors [52][54] Question: Growth of small and medium customer base - The small and medium customer segment was the largest contributor to ad revenue growth in Q2, with improvements in ad products and automation driving strong results [81] Question: Reception of Lens Plus and growth potential - Early reception of Lens Plus is positive, with expectations that exclusive Lenses will drive significant growth [86]

Financial Data and Key Metrics Changes - Revenue increased by 9% year over year to reach $1,340,000,000 in Q2 2025, driven primarily by growth from small and medium customers and performance advertising [6][25] - Adjusted EBITDA was $41,000,000 in Q2 2025, compared to $55,000,000 in Q2 2024, reflecting a decline in profitability [30] - Net loss was $263,000,000 in Q2 2025, compared to a net loss of $249,000,000 in Q2 2024 [30] - Free cash flow was $24,000,000 in Q2 2025, with a trailing twelve months free cash flow of $392,000,000 [31] Business Line Data and Key Metrics Changes - Advertising revenue reached $1,174,000,000 in Q2 2025, up 4% year over year, primarily driven by growth in Doctor advertising revenue [25][26] - Other revenue increased by 64% year over year to reach $171,000,000, with Snapchat Plus subscribers approaching 16,000,000 [28] - Spotlight time spent grew 23% year over year, contributing more than 48% of total time spent watching content [11] Market Data and Key Metrics Changes - Monthly active users (MAU) reached 932,000,000 in Q2 2025, an increase of 64,000,000 or 7% year over year [5] - Daily active users (DAU) reached 469,000,000, an increase of 37,000,000 or 9% year over year [25] - North America MAU was flat year over year at 159,000,000, while unique Snap senders grew by 2% [25] Company Strategy and Development Direction - The company is focused on growing its community, enhancing value for advertisers, and investing in augmented reality (AR) [5][7] - A new distributed structure for engineering teams aims to align investments with business priorities [8] - The introduction of Lens Plus, a new subscription tier, aims to enhance user engagement and drive revenue growth [6][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in Q2 related to ad platform changes and the timing of Ramadan, but expressed optimism about recovery and growth in advertising revenue [26][40] - The company anticipates continued growth in DAU and revenue in Q3, with guidance for revenue between $1,475,000,000 and $1,505,000,000 [32] Other Important Information - The company has committed over $3,000,000,000 to develop a vertically integrated AR platform over the past eleven years [7] - The introduction of new tools and features for creators aims to enhance content creation and engagement on the platform [11][15] Q&A Session Summary Question: Could you talk about the early performance of sponsored snaps and the auction pricing issue? - Management highlighted that sponsored snaps have driven significant growth in reach and conversions, with users showing higher engagement rates [38] - The auction pricing issue was attributed to changes in the ad platform, which have since been reverted, leading to improved ad revenue growth [40][43] Question: What is the current state of brand advertising revenue? - Brand advertising revenue was flat in Q2, with the majority of deceleration seen in Doctor advertising revenue [48] Question: How does Snap's approach to AR differ from competitors? - Management emphasized Snap's long-term commitment to AR and its fully integrated stack, which allows for a unique product experience [52] Question: What initiatives are in place to reaccelerate U.S. DAUs? - The company is focusing on enhancing communication features and launching new products to inspire user engagement [70] Question: What is the outlook for Spotlight monetization? - Spotlight revenue is becoming a more significant part of overall revenue, with ongoing experiments to improve monetization [66]

Group 1 - Snap shares fell 17% after market close due to slower revenue growth in Q2, partly caused by a pricing mistake for advertisers [1] - Q2 revenue grew 39% year-over-year to $1.34 billion, with advertising revenue of $1.174 billion rising 4% [3] - Daily active users increased by 9% year-over-year to 469 million [2] Group 2 - The timing of Ramadan affected advertising revenue comparisons, as the holiday occurred earlier in Q1 this year [3] - The company expects Q3 revenue to be between $1.475 billion and $1.505 billion, with daily active users projected at 476 million [4] - Snap delivered adjusted EBITDA of $41 million and $24 million in free cash flow [4] Group 3 - Time spent on Spotlight grew 23% year-over-year in Q2, now accounting for over 40% of total content viewing time [5] - Snapchat+ subscribers approached 16 million in Q2 [5] - Snap plans to launch standalone lightweight AR glasses in 2026, aiming to enhance its position in augmented reality [5] Group 4 - Sponsored Snaps initiative has shown effectiveness, delivering up to a 22% increase in conversions when included in campaigns [6] - Snapchat introduced Sponsored Snaps from creators, allowing advertisers to send messages directly from creators to users [6]

Financial Performance - Revenue for Q2 2025 was $1,345 million, a 9% increase compared to $1,237 million in the prior year[8, 15] - Average revenue per user (ARPU) was $2.87, slightly up from $2.86 in the prior year[8] - Net loss was $263 million, compared to $249 million in the prior year, with a net loss margin of (20)%[8] - Adjusted EBITDA was $41 million, down from $55 million in the prior year, resulting in an Adjusted EBITDA Margin of 3%, compared to 4%[8, 13, 14] - Operating cash flow was $88 million, a significant improvement from $(21) million in the prior year, and free cash flow was $24 million, compared to $(73) million[16] User Engagement - Global monthly active users (MAU) reached 932 million in Q2, an increase of 64 million, or 7%, year-over-year[17, 32] - Daily active users (DAU) were 469 million in Q2 2025, an increase of 37 million, or 9%, year-over-year[20, 38] - Spotlight reached more than 550 million monthly active users on average in Q2, with time spent growing 23% year-over-year, contributing over 40% of total content time spent[20] Augmented Reality - The community uses AR Lenses in the Snapchat camera 8 billion times per day[23] - Lens Games engagement has continued to grow, now reaching more than 175 million monthly active users, up over 40% year-over-year[24]

Financial Performance - Snap reported second-quarter revenue of $1.345 billion, reflecting a 9% year-over-year increase, surpassing the Street consensus estimate of $1.344 billion [1] - The company incurred a loss of 16 cents per share, which aligned with analyst expectations [1] User Growth - Snap ended the quarter with 932 million monthly active users, marking a 7% increase year-over-year [2] - The number of daily active users reached 469 million, up 9% year-over-year [2] Product and Feature Development - CEO Evan Spiegel highlighted the growth in the global community and emphasized investments in AI and augmented reality [3] - Spotlight achieved over 550 million monthly active users on average, with time spent on Spotlight increasing by 23% year-over-year, now accounting for over 40% of total content time spent [3] - Snap Map also grew to more than 400 million monthly active users during the quarter [4] Future Outlook - The company is focusing on diversifying revenue growth through improvements in its ad platform, aided by advancements in AI [5] - Snap plans to launch its first consumer-ready Specs AR glasses in 2026, which is seen as a significant milestone for the company [5] Stock Performance - Following the earnings report, Snap's stock declined by 14.48% to $8.03 in after-hours trading, within a 52-week trading range of $7.08 to $13.28 [6]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced and qualified news journalists who produce independent content [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The news team delivers insights across various sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Exhibit 99.1 Snap Inc. Announces Second Quarter 2025 Financial Results Second quarter revenue increased 9% year-over-year to $1,345 million Monthly Active Users increased 7% year-over-year to 932 million Daily Active Users increased 9% year-over-year to 469 million Operating cash flow was $88 million and Free Cash Flow was $24 million SANTA MONICA, Calif. – August 5, 2025 – Snap Inc. (NYSE: SNAP) today announced financial results for the quarter ended June 30, 2025. "Our global community continued to grow i ...