Class A Common Stock, par value $0.00001 per share
- Symbol
- SNAP
- Exchange
- NYSE
- Classification
- COMMON
- Status
- Current
Current Report · Items 2.02, 2.05, 7.01, 9.01 · 8-K
Snap Inc.
SNAPNYSEEQUITYCurrent
Results of Operations and Financial Condition · Costs Associated with Exit or Disposal Activities · Regulation FD Disclosure
Item 2.02 Results of Operations and Financial Condition. On April 15, 2026, we posted an Investor Update presentation to our Investor Relations website at investor.snap.com, which includes, among other things, updated financial outlook information for the first quarter of 2026.…
Company context
Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. For more information, visit snap.com.
Current securities
Registered securities in this filing
Snap Inc · 8-K · Filed 2026-04-15
Disclosure sections
Item 2.02Item 2.02 - Results of Operations
Item 2.02 Results of Operations and Financial Condition.
On April 15, 2026, we posted an Investor Update presentation to our Investor Relations website at investor.snap.com, which includes, among other things, updated financial outlook information for the first quarter of 2026. In the presentation, we disclosed estimated total revenue of approximately $1.529 billion, representing 12% growth year-over-year, and estimated adjusted EBITDA of approximately $233 million, in each case for the first quarter of 2026. A copy of that Investor Update is attached as Exhibit 99.2 and is incorporated by reference.
The information presented in this Item 2.02 (including Exhibit 99.2) is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information shall not be deemed incorporated by reference into any other filing with the U.S. Securities and Exchange Commission made by Snap Inc., whether made before or after today’s date, regardless of any general incorporation language in such filing.
Item 2.05Item 2.05 - Costs with Exit or Disposal
Item 2.05 Costs Associated with Exit or Disposal Activities.
On April 15, 2026, we announced a plan to reduce our global headcount by approximately 16% of our global full-time employees. The headcount reduction is designed to further streamline our operations and reallocate resources toward our highest-priority initiatives, leveraging increased operational efficiencies to accelerate our path toward net-income profitability.
As a result, we currently estimate that we will incur pre-tax charges in the range of $95 million to $130 million, primarily consisting of severance and related costs, contract termination costs, and other impairment charges, of which $75 million to $100 million are expected to be future cash expenditures. The majority of these costs are expected to be incurred during the second quarter of 2026. Potential position eliminations in each country are subject to local law and consultation requirements, which may extend this process into the third quarter of 2026 or beyond in certain countries. The charges that we expect to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ materially from the estimates disclosed above.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On April 15, 2026, we began notifying team members affected by the strategic reprioritization and communicated the changes to the entire company with a letter from Evan Spiegel, our Chief Executive Officer and Co-Founder, which is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference.
On April 15, 2026, we posted an Investor Update presentation to our Investor Relations website at investor.snap.com, which, among other things, reaffirmed certain financial outlook information for the full year of 2026 and updated certain other financial outlook information for the full year of 2026. A copy of that Investor Update presentation is attached to this Current Report on Form 8-K as Exhibit 99.2 and is incorporated by reference.
The information presented in this Item 7.01 (including Exhibits 99.1 and 99.2) is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information shall not be deemed incorporated by reference into any other filing with the U.S. Securities and Exchange Commission made by Snap Inc., whether made before or after today’s date, regardless of any general incorporation language in such filing.
Filed exhibits (2)
EX-99.1 2 d36756dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Subject: Organizational Changes at Snap Dear Team, Today we are announcing changes that will impact approximately 1,000 team members at Snap, including 16% of our full time employees, in addition to closing more than 300 open roles. This is an incredibly difficult decision, and I am deeply sorry to the colleagues who will be leaving us. You have made important contributions to Snap, and we are committed to supporting you through this transition. Last fall, I described Snap as facing a crucible moment, requiring a new way of working that is faster and more efficient, while pivoting towards profitable growth. Over the past several months, we have carefully reviewed the work required to best serve our community and partners, and made tough choices to prioritize the investments we believe are most likely to create long-term value. As a result of these changes, we expect to reduce our annualized cost base by more than $500 million by the second half of 2026, helping to establish a clearer path to net-income profitability. While these changes are necessary to realize Snap’s long-term potential, we believe that rapid advanc…
Open exhibit ↗EX-99.2 3 d36756dex992.htm EX-99.2 EX-99.2 Exhibit 99.2 Investor Update Snap’s Path to Net Income Profitability April 2026 2 Note Regarding User Metrics and Other Data We define a Daily Active User, or DAU, as a registered and logged-in Snapchat user who visits Snapchat through our applications or websites at least once during a defined 24-hour period. We calculate average DAUs for a particular quarter by adding the number of DAUs on each day of that quarter and dividing that sum by the number of days in that quarter. DAUs are broken out by geography because markets have different characteristics. We define a Monthly Active User, or MAU, as a registered and logged-in Snapchat user who visits Snapchat through our applications or websites at least once during the 30-day period ending on the calendar month-end. We calculate average MAUs for a particular quarter by calculating the average of the MAUs as of each calendar month-end in that quarter. We define average revenue per user, or ARPU, as quarterly revenue divided by the average DAUs. For purposes of calculating ARPU, revenue by user geography is apportioned to each region based on our determination of the geographic location in w…
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