Core Insights - Snap's shares fell 24.3% in August 2025 despite decent quarterly results, primarily due to modest management comments and soft guidance for the next period [1] - The company targets 476 million daily active users (DAU) in Q3, representing a 7.4% year-over-year increase, but this is a slowdown from the previous quarter's 9% growth [3] - Snap experienced a glitch in its advertising system that temporarily reduced ad revenue, although this issue has since been resolved [4] - Despite the challenges, there is robust demand for Snap's ad inventory, indicating that advertisers continue to invest in the platform [5] - The company is actively working to enhance user growth and engagement through new product launches, including an interactive app for Apple Watch and AI-driven features [7] - The stock remains fragile due to slowing top-line growth and ongoing negative earnings, presenting a turnaround story with uncertainties [8]