SNAP — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• also been disrupted by recent changes we made to our advertising platform, and, in the future, we may continue to experience adverse impacts to our revenue growth as a result of these changes.

• Cost of revenue for the three and six months ended June 30, 2026 increased $14.6 million and $40.2 million, respectively, compared to the same periods in 2025. The increase in both periods was primarily driven by a $10.2 million increase and a $34.9 million increase in infrastructure costs for the t…

• Research and development expenses for the three and six months ended June 30, 2026 increased $98.8 million and $152.9 million, respectively, compared to the same periods in 2025. The increase in both periods was primarily due to investments in product development and restructuring charges of $48.5 m…

• Sales and marketing expenses for the three and six months ended June 30, 2026 increased $40.5 million and $21.6 million, respectively, compared to the same periods in 2025. The increase in both periods was driven by higher advertising costs and restructuring charges of $29.4 million in the current p…

• General and administrative expenses for the three months ended June 30, 2026 increased $11.2 million compared to the same period in 2025. The increase was primarily driven by restructuring charges of $42.0 million in the current period, partially offset by lower employee compensation and stock-based…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• Cost of revenue for the three months ended March 31, 2026 increased $25.7 million compared to the same period in 2025. The increase was primarily driven by higher transaction processing fees due to higher subscription revenue from the growth in the number of subscribers as well as a $24.7 million in…

• Research and development expenses for the three months ended March 31, 2026 increased $54.1 million compared to the same period in 2025. The increase was primarily driven by investments in product development, including higher employee compensation due to additional research and development headcoun…

• Sales and marketing expenses for the three months ended March 31, 2026 decreased $18.9 million compared to the same period in 2025. The decrease was primarily driven by lower spend on community growth marketing.

• General and administrative expenses for the three months ended March 31, 2026 decreased $14.7 million compared to the same period in 2025. The decrease was primarily driven by a benefit from the reversal of previously recorded digital services taxes following the repeal of the Canadian Digital Servi…

• Other expense, net for the three months ended March 31, 2026 was not material. Other income, net for the three months ended March 31, 2025 was primarily driven by a $66.9 million gain on extinguishment associated with the

Text added vs the prior filing · source: 10-Q · 2026-08-04

• $18.2 million decrease in the market value of our cash equivalents and marketable securities as of June 30, 2026 and December 31, 2025, respectively.

• As of both June 30, 2026 and December 31, 2025, we had aggregate principal amounts of debt outstanding of $3.5 billion. Since the Notes bear interest at fixed rates and are carried at amortized cost, fluctuations in interest rates do not have any impact on our consolidated financial statements. Howe…

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• As of both March 31, 2026 and December 31, 2025, we had aggregate principal amounts of debt outstanding of $3.5 billion. Since the Notes bear interest at fixed rates and are carried at amortized cost, fluctuations in interest rates do not have any impact on our consolidated financial statements. How…

• publicly traded equity securities had carrying values of $8.2 million and $9.5 million as of March 31, 2026 and December 31, 2025, respectively.

Text added vs the prior filing · source: 10-Q · 2026-08-04

• We may not be successful in our strategy and investments for our physical products, which could seriously harm our business. We believe in computing that naturally integrates our digital experience with the physical world. We are

• investing in the future of augmented reality, and in June 2026, we announced SPECS, our next generation of augmented reality glasses. We expect that our strategy for and investments in our physical products, including wearables and our firmware and operating system, will continue to be a complex, ev…

• We face significant competition in almost every aspect of our business both domestically and internationally, especially because our products and services operate across a broad list of categories, including camera, visual messaging, content, and augmented reality. Our competitors range from smaller…

• We cannot guarantee we will continue to attract and retain the personnel we need to maintain our competitive position. We face significant competition in hiring and attracting qualified engineers, designers, and sales personnel, including from companies that offer a remote or hybrid work environment…

• hiring and retaining our workforce as a result of our policies which require greater in-office attendance. Further, labor is subject to external factors that are beyond our control, including our industry’s highly competitive market for skilled workers and leaders, inflation, fluctuating interest ra…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• We may not be successful in our strategy and investments for our physical products, which could seriously harm our business. We believe in computing that naturally integrates our digital experience with the physical world. We are investing in the future of augmented reality, and in 2025 we announced…

• However, this ecosystem may not develop at pace with our expectations, and market acceptance and adoption of features, products, and services we build, or expect to build, is uncertain. We also regularly evaluate our product roadmaps and make strategic shifts as our understanding of the technologica…

• We face significant competition in almost every aspect of our business both domestically and internationally, especially because our products and services operate across a broad list of categories, including camera, visual messaging, content, and augmented reality. Our competitors range from smaller…

• We cannot guarantee we will continue to attract and retain the personnel we need to maintain our competitive position. We face significant competition in hiring and attracting qualified engineers, designers, and sales personnel, including from companies that offer a remote or hybrid work environment…

• increased scrutiny of companies’ human capital practices and initiatives. Negative perception of certain of these practices and initiatives, whether due to our perceived over- or under-pursuit of such initiatives, may result in issues hiring or retaining employees, as well as potential litigation or…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Stockholder Election of Directors and Ratification of Appointment of Independent Registered Accounting Firm

• On July 30, 2026, we held our 2026 annual meeting of stockholders. That same day, the holders of an aggregate of 231,626,943 shares of our Class C common stock, representing an aggregate of over 99% of the voting power of our outstanding capital stock, acted by written consent to elect the following…

• Additionally, pursuant to this action by written consent, the holders ratified the selection by the audit committee of our board of directors of Ernst & Young LLP as our independent registered accounting firm for the fiscal year ending December 31, 2026.

• We are including this disclosure in this Form 10-Q rather than filing a Form 8-K under Item 5.07.

• During the quarter ended June 30, 2026, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions, or written plans for the purchase or sale of our securities set forth in the table below:

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• During the quarter ended March 31, 2026, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions, or written plans for the purchase or sale of our securities set forth in the table below:

• (2)Trading arrangement provides for the sale of up to 13,000,000 shares of Class A Common Stock by a revocable trust over which Mr. Murphy serves as trustee, plus the gift by such trust of the number of shares necessary to attain a value equal to 30% of such gross sale proceeds, and for the sale of …

• (4)Trading arrangement provides for the sale of (i) up to 50% of shares of Class A Common Stock held by Mr. Mohan in his account as of the applicable calculation date, and (ii) up to 50% of the net issued shares of Class A Common Stock subject to restricted stock unit grants upon satisfaction of the…

• On May 6, 2026, Snap Group Limited Singapore Branch (“Snap Singapore”), one of our subsidiaries, entered into an employment agreement (the “Employment Agreement”) with Ajit Mohan, our Chief Business Officer, effective May 1, 2026, in connection with Mr. Mohan’s voluntary relocation to Singapore. The…

• Pursuant to the Employment Agreement, Mr. Mohan will continue serving as our Chief Business Officer and will receive a base salary of SGD 112,500 per month (which is SGD 1,350,000 per year, or approximately $1,051,000 USD per year). Mr. Mohan may also be eligible to receive an annual discretionary b…