SNAP Q3 2024 Financial Summary
Snap Inc. Class A Common is a current holding in our US Tech Disruptors managed fund.
Snapchat+ reached 12 million subscribers in Q3, more than doubling year-over-year.
Q3 2024 Financial Summary
Free Cash Flow was $72 million, compared to $(61) million in the prior year.
Revenue was $1,373 million, compared to $1,189 million in the prior year, an increase of 15% year-over-year.
Net loss was $153 million, compared to $368 million in the prior year.
Adjusted EBITDA was $132 million, compared to $40 million in the prior year.
Operating cash flow was $116 million, compared to $13 million in the prior year.
We invested in our augmented reality platform:
We’re making AR creation simpler with Easy Lens, a new tool that makes it possible to build Lenses in a matter of minutes, just by typing into a text prompt. We introduced the fifth generation of Spectacles, our new see-through, standalone AR glasses that enable developers to use Lenses and experience the world together with friends, powered by Snap OS. Snap OS is our brand new and groundbreaking operating system with a natural interface that uses hands and voice, with no controller required. The Snap Spatial Engine understands the world around you so that Lenses appear realistically in three dimensions. More than 375,000 AR creators, developers, and teams from nearly every country in the world have built over 4 million Lenses. Over 150 million Spotlight videos have been created this year featuring Lenses made by our talented community of Lens Creators. Over 225 million Snapchatters engaged with more than 25 custom Olympic-related AR experiences globally during the Paris 2024 Games. We’re rolling out a slate of new GenAI Suite features in Lens Studio that make it faster and easier to bring your creativity to life, including Animation Blending, Body Morph, and Icon Generation.
