Snap Inc. (SNAP) Income Statement
SNAP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSNAP revenue and net income
Where SNAP's revenue goes
2025Each bar shows an amount and its share of revenue. SNAP kept −7.8% of revenue as net income.
SNAP profit margins
SNAP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.6% | +8.8% | +18.8% | +58.7% |
| Gross profit | +12.9% | +5.4% | +19.7% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | −257.1% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SNAP quarterly EPS vs estimates
Snap beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.00).
SNAP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.93B | $5.36B | $4.61B | $4.60B | $4.12B | $2.51B | $1.72B | $1.18B | $824.9M | $404.5M |
| Cost of revenue | $2.67B | $2.47B | $2.11B | $1.82B | $1.75B | $1.18B | $895.8M | $798.9M | $717.5M | $451.7M |
| Gross profit | $3.26B | $2.89B | $2.49B | $2.79B | $2.37B | $1.32B | $819.7M | $381.6M | $107.5M | −$47.2M |
| Research & development | $1.77B | $1.69B | $1.91B | $2.11B | $1.57B | $1.10B | $883.5M | $772.2M | $1.53B | $183.7M |
| Sales, general & admin | $2.01B | $1.98B | $1.98B | $2.07B | $1.50B | $1.08B | $1.04B | $877.8M | $2.06B | $289.5M |
| Total operating expenses | $3.79B | $3.67B | $3.89B | $4.18B | $3.07B | $2.19B | $1.92B | $1.65B | $3.59B | $473.2M |
| Operating income | −$532.2M | −$787.3M | −$1.40B | −$1.40B | −$702.1M | −$862.1M | −$1.10B | −$1.27B | −$3.49B | −$520.4M |
| Interest income | $134.2M | $153.5M | $168.4M | $58.6M | $5.2M | $18.1M | $36.0M | $27.2M | $21.1M | $4.7M |
| Interest expense | $89.0M | $21.6M | $22.0M | $21.5M | $17.7M | $97.2M | $25.0M | $3.9M | $3.5M | $1.4M |
| Income before taxes | −$442.8M | −$672.2M | −$1.29B | −$1.40B | −$474.4M | −$926.2M | −$1.03B | −$1.25B | −$3.46B | −$521.7M |
| Income taxes | $17.7M | $25.6M | $28.1M | $29.0M | $13.6M | $18.7M | $393,000 | $2.5M | −$18.3M | −$7.1M |
| Net income | −$460.5M | −$697.9M | −$1.32B | −$1.43B | −$488.0M | −$944.8M | −$1.03B | −$1.26B | −$3.45B | −$514.6M |
| EBITDA | −$165.5M | −$492.6M | −$1.10B | −$1.18B | −$337.6M | −$742.2M | −$921.0M | −$1.16B | −$3.40B | −$491.2M |
| EPS (diluted) | −$0.11 | $0.07 | −$0.39 | −$0.26 | $0.30 | −$0.49 | −$0.17 | −$0.60 | −$0.64 | −$0.25 |
| Gross margin | 55.0% | 53.9% | 54.1% | 60.6% | 57.5% | 52.8% | 47.8% | 32.3% | 13.0% | −11.7% |
| Operating margin | −9.0% | −14.7% | −30.4% | −30.3% | −17.1% | −34.4% | −64.3% | −107.5% | −422.5% | −128.7% |
| Net margin | −7.8% | −13.0% | −28.7% | −31.1% | −11.9% | −37.7% | −60.3% | −106.4% | −417.6% | −127.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.60B | $1.53B | $1.72B | $1.51B | $1.34B | $1.36B | $1.56B | $1.37B | $1.24B | $1.19B | $1.36B | $1.19B |
| Cost of revenue | $667.9M | $665.2M | $703.7M | $674.2M | $653.3M | $639.6M | $671.7M | $638.9M | $588.9M | $574.7M | $621.5M | $555.8M |
| Gross profit | $931.1M | $863.5M | $1.01B | $832.6M | $691.6M | $723.6M | $885.6M | $733.7M | $647.8M | $620.0M | $739.8M | $632.8M |
| Research & development | $542.1M | $478.3M | $450.0M | $453.4M | $443.3M | $424.2M | $422.9M | $412.8M | $406.2M | $449.8M | $483.5M | $494.6M |
| Sales, general & admin | $559.7M | $459.7M | $491.6M | $507.6M | $507.9M | $480.0M | $489.6M | $494.1M | $495.6M | $503.5M | $505.0M | $518.3M |
| Total operating expenses | $1.10B | $938.0M | $963.0M | $961.0M | $951.3M | $917.5M | $912.5M | $906.9M | $901.8M | $953.3M | $988.5M | $1.01B |
| Operating income | −$170.7M | −$74.4M | $49.7M | −$128.4M | −$259.7M | −$193.8M | −$26.9M | −$173.2M | −$254.0M | −$333.2M | −$248.7M | −$380.1M |
| Interest income | $24.7M | $26.5M | $31.7M | $32.3M | $33.2M | $37.0M | $38.6M | $38.5M | $36.5M | $39.9M | $43.5M | $43.8M |
| Interest expense | $36.9M | $36.8M | $3.5M | $34.5M | $27.6M | $23.4M | $5.8M | $5.9M | $5.1M | $4.7M | $5.3M | $5.5M |
| Income before taxes | −$161.5M | −$85.8M | $46.3M | −$103.0M | −$254.9M | −$131.2M | $14.3M | −$144.9M | −$243.4M | −$298.2M | −$245.0M | −$362.4M |
| Income taxes | $2.5M | $3.2M | $1.1M | $510,000 | $7.7M | $8.4M | $5.2M | $8.3M | $5.2M | $6.9M | $3.3M | $5.8M |
| Net income | −$164.0M | −$89.0M | $45.2M | −$103.5M | −$262.6M | −$139.6M | $9.1M | −$153.2M | −$248.6M | −$305.1M | −$248.2M | −$368.3M |
| EBITDA | −$77.6M | −$4.3M | $117.8M | −$26.0M | −$187.3M | −$70.0M | $59.7M | −$100.2M | −$200.4M | −$251.7M | −$187.4M | −$315.7M |
| EPS (diluted) | −$0.10 | −$0.05 | $0.19 | −$0.06 | −$0.16 | −$0.08 | $0.16 | $0.08 | $0.02 | −$0.19 | $0.07 | −$0.23 |
| Gross margin | 58.2% | 56.5% | 59.0% | 55.3% | 51.4% | 53.1% | 56.9% | 53.5% | 52.4% | 51.9% | 54.3% | 53.2% |
| Operating margin | −10.7% | −4.9% | 2.9% | −8.5% | −19.3% | −14.2% | −1.7% | −12.6% | −20.5% | −27.9% | −18.3% | −32.0% |
| Net margin | −10.3% | −5.8% | 2.6% | −6.9% | −19.5% | −10.2% | 0.6% | −11.2% | −20.1% | −25.5% | −18.2% | −31.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SNAP's financial statements (latest annual report filed February 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SNAP financial results
In fiscal year 2025 (ended December 31, 2025), Snap reported revenue of $5.9 billion, up 10.6% from the year before. It had a net loss of $460.5 million, a net profit margin of −7.8%. Diluted earnings per share came to −$0.11. Over five years revenue grew at an average rate of 18.8% a year.
See the SNAP stock overview for the latest quote and news, or the SNAP chart for price history and technical indicators.
SNAP income statement FAQ
What is Snap's annual revenue?
Snap reported total revenue of $5.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 10.6% from $5.4 billion the previous year.
Is Snap profitable?
No. Snap reported a net loss of $460.5 million in fiscal 2025, a net profit margin of −7.8%; its operating margin was −9.0%.
What is Snap's gross margin?
Snap's gross margin was 55.0% in fiscal 2025: for every $100 of revenue, Snap kept $55 after the direct cost of its products and services.
How much does Snap spend on research and development?
Snap spent $1.8 billion on research and development in fiscal 2025, 29.9% of revenue.
How fast is Snap growing?
Revenue grew 18.8% a year on average over the last five fiscal years, from $2.5 billion to $5.9 billion.
What are Snap's earnings per share?
Snap earned $-0.11 per diluted share in fiscal 2025, compared with $0.07 a year earlier.
When will Snap report its next earnings?
Snap is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Snap's fiscal year end?
Snap's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 5, 2026.