Recent Insider Transactions Derivative • May 14
Co-Founder notifies of intention to sell stock Robert Murphy intends to sell 2m shares in the next 90 days after lodging an Intent To Sell Form on the 13th of May. If the sale is conducted around the recent share price of US$5.38, it would amount to US$11m. Since September 2025, Robert's direct individual holding has decreased from 177.02m shares to 173.13m. Company insiders have collectively sold US$22m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • May 14
Consensus EPS estimates upgraded to US$0.10 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -US$0.149 to -US$0.101 per share. Revenue forecast steady at US$6.69b. Interactive Media and Services industry in the US expected to see average net income growth of 19% next year. Consensus price target down from US$7.91 to US$7.64. Share price fell 8.2% to US$5.61 over the past week. Live News • May 11
Snap Faces Uncertainty as AI Deal Ends and AR Investments Grow Snap and Perplexity have ended their US$400m agreement to bring Perplexity’s AI search engine into Snapchat, which had been expected to start contributing revenue from 2026.
Snap’s latest quarter featured double digit revenue growth and 5% year on year increases in both daily and monthly active users, supported by features such as Snap Map and AR Lenses, but management issued conservative sales guidance citing geopolitical tension in the Middle East and softness in key ad markets like North America.
The company has reduced its workforce by about 1,000 roles to pursue AI-driven efficiencies, while also entering a multi-year partnership with Qualcomm to use Snapdragon XR chips in future Spectacles AR eyewear, targeting more advanced on-device AI and multi-user AR experiences.
The mix of an ended AI monetization deal, cautious sales outlook and continued losses on one side, and deeper investment in AR and on-device AI on the other, points to a business still in transition between near-term advertising challenges and long-term product bets.
You may want to watch how quickly Snap can convert its Qualcomm-backed AR initiatives and existing user growth into more stable revenue streams, especially with CEO Evan Spiegel retaining majority voting control and external analysts already flagging divestment risk. Breakeven Date Change • May 08
Forecast breakeven date moved forward to 2027 The 40 analysts covering Snap previously expected the company to break even in 2028. New consensus forecast suggests losses will reduce by 68% to 2026. The company is expected to make a profit of US$96.5m in 2027. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Major Estimate Revision • Apr 27
Consensus EPS estimates upgraded to US$0.15 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -US$0.169 to -US$0.151 per share. Revenue forecast steady at US$6.69b. Interactive Media and Services industry in the US expected to see average net income growth of 30% next year. Consensus price target down from US$8.08 to US$7.91. Share price was steady at US$6.06 over the past week. Major Estimate Revision • Apr 16
Consensus EPS estimates upgraded to US$0.17 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -US$0.199 to -US$0.166 per share. Revenue forecast steady at US$6.71b. Interactive Media and Services industry in the US expected to see average net income growth of 23% next year. Consensus price target broadly unchanged at US$7.94. Share price rose 22% to US$6.02 over the past week. Breakeven Date Change • Apr 15
Forecast to breakeven in 2028 The 40 analysts covering Snap expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 31% per year to 2027. The company is expected to make a profit of US$93.3m in 2028. Average annual earnings growth of 61% is required to achieve expected profit on schedule. Recent Insider Transactions Derivative • Apr 12
Co-Founder notifies of intention to sell stock Evan Spiegel intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 8th of April. If the sale is conducted around the recent share price of US$4.98, it would amount to US$5.0m. Almost all of their compensation in the past year has been non-cash. These sales could comprise a meaningful part of their income for the year. Since September 2025, Evan's direct individual holding has decreased from 162.92m shares to 158.06m. Company insiders have collectively sold US$21m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Apr 03
Randian Capital Sends Open Letter to Snap’s Board On April 1, 2026, Randian Capital, announced that it has sent an open letter to Snap Inc.’s Board and management, calling for change and inviting shareholders to an investor town hall on April 6, 2026. In addition, Randian highlights concern about Company’s capital allocation, including $1 billion annually on stock-based compensation and $1.6 billion on research and development, as well as a $3 billion investment in Spectacles. Further, Randian urges the Company Board to spin off Spectacles, review cost structure, leverage AI for efficiency, collapse the dual class share structure, commit to total shareholder return, hold an investor day, and appoint 2 new independent directors. Furthermore, Randian Capital criticizes Company’s governance structure and stock performance, noting an over 80% decline since the IPO, and encourages retail shareholders to engage with management and the Board. Announcement • Apr 01
Irenic Capital Sends Letter to Snap On March 31, 2026, Irenic Capital Management, LP, announced that it has sent a public letter to Snap Inc.’s Co-Founder and CEO Evan Spiegel, detailing a path to realizing $26.37 per share and issued a presentation. In addition, Irenic Capital outlined recommendations including fully monetizing the AI opportunity, improving cost structure, increasing capital returns to shareholders, and enhancing corporate governance, believing Snap could be worth at least $26.37 per share or $35 billion following value-enhancing steps. Further, Irenic Capital highlighted Company’s underperformance since its IPO, compared to Meta and the Nasdaq, and emphasized the need for meaningful changes such as spinning or shutting down Specs, rationalizing the cost structure, aligning employee incentives, focusing on AI to improve ad monetization, monetizing latent AI opportunities, taking advantage of discounted valuation, and improving corporate governance by giving Class A shareholders 1 vote per share. Furthermore, Irenic Capital encouraged shareholders to visit SaveSnapNow.com to view and download the presentation and asserted that the Company should not continue its current course, urging action to unlock value for shareholders. Announcement • Mar 25
Anapol Weiss Files Lawsuit Against Roblox Corporation, Discord Inc., and Snap Inc. Alleging Platforms Enabled Sexual Exploitation of Minor Anapol Weiss had filed a federal lawsuit against Roblox Corporation, Discord Inc., and Snap Inc. The plaintiff, a now 15 year old from North Carolina, was targeted across multiple platforms due to design features that allowed adults to identify and contact her. The complaint contends that design features across all three platforms created openings that allowed predators to identify and exploit a minor. According to the publicly filed complaint, the child was first approached on Roblox by an adult predator who used the platform’s communication tools to gain access to her. He then coerced her into sending sexually explicit images of herself on Discord. The complaint further describes how a second predator located her on Snapchat, where he ultimately drugged and sexually assaulted her multiple times. The complaint states that the abuse was a direct consequence of design choices that allowed adults to easily identify, contact, and manipulate children across multiple platforms. The companies publicly promoted their platforms as safe for young users while declining to implement basic, widely available protections. Instead, the complaint asserts, each platform incorporated features that enabled adult–minor contact and prioritized user growth and engagement over the safety of children. A common pattern is highlighted across the platforms: permissive communication tools, ineffective age-verification, and features that connect minors with unknown adults. Internal concerns about safety, the complaint claims, were overshadowed by business considerations, including the potential impact of stronger protections on user engagement and growth. The complaint describes profound and lasting harm to the minor, including severe psychological trauma, and the need for ongoing medical and therapeutic care. This lawsuit is part of a broader effort by Anapol Weiss, which has filed 22 cases against these companies and serves in a leadership role in the centralized federal litigation—now comprising well over 100 filed cases—alleging that Roblox, Discord, and Snap enabled sexual exploitation of children through dangerous platform designs. Anapol Weiss has been at the forefront of litigation involving online child exploitation and represents individuals and families nationwide in cases involving corporate negligence and product safety. The firm was among the first in the nation to bring claims against major gaming platforms related to child safety and continues to play a leading role in these cases. Recent Insider Transactions • Mar 19
Chief Financial Officer recently sold US$427k worth of stock On the 16th of March, Derek Andersen sold around 93k shares on-market at roughly US$4.59 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$633k. Derek has been a net seller over the last 12 months, reducing personal holdings by US$3.0m. Recent Insider Transactions Derivative • Mar 17
Chief Financial Officer notifies of intention to sell stock Derek Andersen intends to sell 93k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of March. If the sale is conducted around the recent share price of US$4.59, it would amount to US$427k. Since March 2025, Derek's direct individual holding has increased from 3.51m shares to 3.89m. Company insiders have collectively sold US$21m more than they bought, via options and on-market transactions in the last 12 months. Breakeven Date Change • Mar 17
No longer forecast to breakeven The 40 analysts covering Snap no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$1.45m in 2028. New consensus forecast suggests the company will make a loss of US$4.44m in 2028. Recent Insider Transactions Derivative • Feb 27
General Counsel notifies of intention to sell stock Zachary Briers intends to sell 69k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of February. If the sale is conducted around the recent share price of US$4.73, it would amount to US$325k. Zachary now holds 45.74k shares directly in their own name. Company insiders have collectively sold US$21m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Feb 27
Chief Accounting Officer & Controller recently sold US$93k worth of stock On the 19th of February, Rebecca Morrow sold around 20k shares on-market at roughly US$4.72 per share. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$10m. Insiders have been net sellers, collectively disposing of US$21m more than they bought in the last 12 months. Recent Insider Transactions • Feb 20
Chief Business Officer recently sold US$561k worth of stock On the 17th of February, Ajit Mohan sold around 119k shares on-market at roughly US$4.70 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$10m. Insiders have been net sellers, collectively disposing of US$21m more than they bought in the last 12 months. Breakeven Date Change • Feb 08
No longer forecast to breakeven The 40 analysts covering Snap no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$20.3m in 2028. New consensus forecast suggests the company will make a loss of US$900.8k in 2028. New Risk • Feb 08
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$460m Forecast net loss in 3 years: US$901k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$901k net loss in 3 years). Significant insider selling over the past 3 months (US$13m sold). Recent Insider Transactions Derivative • Feb 07
Co-Founder notifies of intention to sell stock Robert Murphy intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 6th of February. If the sale is conducted around the recent share price of US$5.21, it would amount to US$5.2m. Since March 2025, Robert's direct individual holding has decreased from 179.63m shares to 175.73m. Company insiders have collectively sold US$22m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 05
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: US$0.27 loss per share (improved from US$0.42 loss in FY 2024). Revenue: US$5.93b (up 11% from FY 2024). Net loss: US$460.5m (loss narrowed 34% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Feb 05
Snap Inc. (NYSE:SNAP) announces an Equity Buyback for $500 million worth of its shares. Snap Inc. (NYSE:SNAP) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its Class A common stock. The purpose of the program is to utilize the company’s strong balance sheet to opportunistically offset a portion of the dilution related to the issuance of restricted stock units to employees as part of the overall compensation program designed to foster an ownership culture. The repurchases under the program will be funded from existing cash and cash equivalents. The program will be valid for a period of 12 months. Breakeven Date Change • Dec 31
Forecast to breakeven in 2028 The 40 analysts covering Snap expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$31.7m in 2028. Average annual earnings growth of 54% is required to achieve expected profit on schedule. Recent Insider Transactions • Dec 23
Chief Financial Officer recently sold US$249k worth of stock On the 16th of December, Derek Andersen sold around 35k shares on-market at roughly US$7.21 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$10m. Derek has been a net seller over the last 12 months, reducing personal holdings by US$3.2m. Recent Insider Transactions • Dec 11
Co-Founder recently sold US$10m worth of stock On the 8th of December, Evan Spiegel sold around 1m shares on-market at roughly US$8.01 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Evan's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Dec 10
Co-Founder notifies of intention to sell stock Evan Spiegel intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 8th of December. If the sale is conducted around the recent share price of US$7.95, it would amount to US$10m. Almost all of their compensation in the past year has been non-cash. These sales could comprise a meaningful part of their income for the year. Since December 2024, Evan's direct individual holding has decreased from 168.61m shares to 162.92m. Company insiders have collectively sold US$13m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Dec 09
Snap Inc. Appoints Matthew McRae as Director to Board of Directors,Effective December 4, 2025 On December 4, 2025, Snap Inc. approved an increase to the size of the board from eleven to twelve members and appointed Matthew McRae to fill the newly created vacancy,effective December 4, 2025. Mr. McRae will serve until the earlier of (a) the next annual meeting of our stockholders, (b) the effectiveness of the next action by written consent of stockholders in lieu of an annual meeting, and (c) his death, resignation, or removal. Mr. McRae has not been appointed to serve on any committees of the board of directors. Mr. McRae, age 51, has served as Chief Executive Officer and a member of the board of directors of Arlo Technologies Inc. since August 2018. He previously was NETGEAR’s Senior Vice President of Strategy, and prior to that served as Chief Technology Officer of Vizio Inc. for over 7 years. Mr. McRae previously served as Vice President of Marketing and Business Development of Fabrik (now part of HGST Inc.), and before that was Senior Director, Worldwide Business Development at Cisco Systems Inc. Mr. McRae currently serves on the board of directors for Origin Wireless, and was previously on the board of directors of Violux Inc., Dedicated Hosting Services Inc., and the Leatherby Center for Entrepreneurship and Business Ethics at the Business School of Chapman University. Mr. McRae holds a Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania and a Bachelor of Science in Computer Engineering from the University of Pennsylvania. There are no family relationships between Mr. McRae and any of our directors or executive officers, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Further, there is no arrangement or understanding between Mr. McRae and any other persons or entities pursuant to which Mr. McRae was appointed as a director. Recent Insider Transactions • Nov 20
Insider recently sold US$912k worth of stock On the 17th of November, Ajit Mohan sold around 109k shares on-market at roughly US$8.34 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$13m more than they bought in the last 12 months. Price Target Changed • Nov 19
Price target increased by 7.0% to US$9.88 Up from US$9.23, the current price target is an average from 36 analysts. New target price is 20% above last closing price of US$8.25. Stock is down 22% over the past year. The company is forecast to post a net loss per share of US$0.34 next year compared to a net loss per share of US$0.42 last year. Major Estimate Revision • Nov 13
Consensus EPS estimates upgraded to US$0.33 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -US$0.413 to -US$0.333 per share. Revenue forecast steady at US$5.91b. Interactive Media and Services industry in the US expected to see average net income growth of 31% next year. Consensus price target up from US$9.23 to US$9.82. Share price rose 25% to US$9.09 over the past week. Recent Insider Transactions Derivative • Nov 09
Co-Founder notifies of intention to sell stock Robert Murphy intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 7th of November. If the sale is conducted around the recent share price of US$7.94, it would amount to US$7.9m. Since December 2024, Robert's direct individual holding has decreased from 180.98m shares to 177.02m. Company insiders have collectively sold US$13m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: US$0.061 loss per share (improved from US$0.092 loss in 3Q 2024). Revenue: US$1.51b (up 9.8% from 3Q 2024). Net loss: US$103.5m (loss narrowed 32% from 3Q 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 51%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Nov 06
Snap Inc. (NYSE:SNAP) announces an Equity Buyback for $500 million worth of its shares. Snap Inc. (NYSE:SNAP) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its Class A common stock. The purpose of the program is to utilize the company’s strong balance sheet to opportunistically offset a portion of the dilution related to the issuance of restricted stock units to employees as part of the overall compensation program designed to foster an ownership culture. The repurchases under the program will be funded from existing cash and cash equivalents. The program will be valid for a period of 12 months. Announcement • Oct 03
Snap Inc. and Samba TV Study Demonstrate Impactful Entertainment Outcomes Across Streaming and Theatrical Releases Snap Inc. and Samba TV released compelling study results demonstrating Snapchat Advertising's ability to drive measurable outcomes at scale. Amid a thriving box office and a theatrical industry slated for continued growth, entertainment marketers are navigating an environment where accountability and proven ROI are paramount, Samba TV's study shows how Snapchat delivers consistent results across streaming, linear, and theatrical campaigns, moving audiences from discovery to action. The study, analyzing 29 media and entertainment campaigns, found that Snapchat ads delivered both upper- and lower-funnel impact, from boosting viewership to sustaining ticket sales long after opening weekend. The findings arrive at a moment when marketers are rethinking media plans to capitalize on the box office resurgence and balance awareness with conversion. Snapchat's proven ability to influence outcomes across the entertainment funnel, paired with Samba TV's independent first-party dataset and identity graph gives advertisers a unified view of campaign performance across the entire consumer journey. In 12 campaigns focused on promoting new movie releases in a booming theatrical market, Snapchat drove an average 79% incremental lift in ticket sale conversions, proving a positive investment for entertainment marketers. The study identified Snapchat's Commercials and Story Ads performed strongest, driving 5x and 3x lift respectively. Among light TV viewers, a segment of viewers that watch low levels of traditional television who are increasingly challenging to reach, Snapchat achieved an average 99% lift in ticket sales. Samba TV's study also demonstrated that Snapchat's ad campaigns had staying power long after the exposure with continued incremental ticket sales more than 30 days after release, further underscoring Snapchat's role in sustaining momentum when maximizing returns in a strong box office environment matters most. Across 17 campaigns promoting streaming and linear programming, Samba TV reported that Snapchat delivered an average 32% lift in viewership, with standout performance from formats including Lenses, Story Ads, and Reminder Ads. Every campaign in the study achieved statistically significant outcomes, proving that entertainment advertisers can rely on Snapchat to cut through crowded launch windows and fragmented media consumption habits. With more than 75% of 13- to 34-year-olds in more than 25 countries, Snapchat is a critical channel for entertainment marketers looking to reach audiences where they spend their time. To understand whether campaigns are driving impact, advertisers need access to comprehensive, full-funnel insights. Samba TV's first-party dataset spans TV, digital, and social channels, enabling brands and agencies to measure performance based on real-world business outcomes from box office sales to brand lift, retail visitation, and digital conversions. Announcement • Sep 05
Michael O’Sullivan to Leave as General Counsel and Secretary of Snap Inc. on December 31, 2025 Snap Inc. announced that on September 3, 2025, Michael O’Sullivan, General Counsel and Secretary, notified the company that he will be leaving on December 31, 2025. Mr. O’Sullivan has confirmed that his decision is not related to any disagreement with the company on any matter relating to accounting, strategy, management, operations, policies, or practices (financial or otherwise). Announcement • Aug 22
Holzer & Holzer, Llc Announces Lawsuit Filed Against Snap Inc A shareholder class action lawsuit has been filed against Snap Inc. The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse information regarding the true state of Snap’s advertising revenue growth rate. The deadline to ask the court to be appointed lead plaintiff in the case is October 20, 2025.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, and 2023, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. Recent Insider Transactions • Aug 21
Insider recently sold US$1.3m worth of stock On the 18th of August, Ajit Mohan sold around 184k shares on-market at roughly US$7.18 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$13m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 08
Co-Founder notifies of intention to sell stock Robert Murphy intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 7th of August. If the sale is conducted around the recent share price of US$7.74, it would amount to US$7.7m. Since December 2024, Robert's direct individual holding has decreased from 180.98m shares to 178.33m. Company insiders have collectively sold US$12m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 06
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: US$0.16 loss per share (further deteriorated from US$0.15 loss in 2Q 2024). Revenue: US$1.34b (up 8.7% from 2Q 2024). Net loss: US$262.6m (loss widened 5.6% from 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.1%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jul 12
Snap Inc., Annual General Meeting, Aug 01, 2025 Snap Inc., Annual General Meeting, Aug 01, 2025. Announcement • Jul 11
Snap Inc. to Report Q2, 2025 Results on Aug 05, 2025 Snap Inc. announced that they will report Q2, 2025 results on Aug 05, 2025 New Risk • Jul 01
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$532m Forecast net loss in 3 years: US$6.5m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$6.5m net loss in 3 years). Significant insider selling over the past 3 months (US$2.8m sold). Announcement • Jun 21
Snap Inc. (NYSE:SNAP) acquired Saturn Technologies Inc. Snap Inc. (NYSE:SNAP) acquired Saturn Technologies Inc. on June 20, 2025. Snap says almost the entire Saturn team is joining Snap as part of the acquisition, with just under 30 full-time employees coming on board.
Snap Inc. (NYSE:SNAP) completed the acquisition of Saturn Technologies Inc. on June 20, 2025. Announcement • Jun 11
Snap to Launch New Lightweight, Immersive Specs in 2026 Snap Inc. announced at the Augmented World Expo 2025 that it is launching lightweight, immersive Specs in 2026. Specs are an ultra- powerful wearable computer integrated into a lightweight pair of glasses, featuring see-through Lenses that enhance the physical world with digital experiences. Snap's all-new Specs are uniquely positioned to understand the world through advanced machine learning, bring AI assistance into three-dimensional space, enable shared games and experiences with friends, and provide a flexible and powerful workstation for browsing, streaming, and more. People use AR Lenses in the Snapchat camera 8 billion times per day, and over 400,000 developers have built more than 4 million Lenses with Snap's AR tools. Snap released its fifth generation of Spectacles for developers in 2024, paving the way for the public launch of Specs in 2026. Developers all over the world are already building new experiences, including: Super Travel from Gowaaa helps global travelers translate signs, menus, and receipts and convert currencies. Drum Kit from Paradiddle teaches new drummers how to play by overlaying cues on a real drum set and listening to the notes. Pool Assist from Studio ANRK helps players make better shots in pool. Cookmate from Headraft finds recipes based on available ingredients and provides step-by-step cooking guidance in the kitchen. Wisp World from Liquid City brings on whimsical adventures to playfully explore the world around you. The company also announced major updates to Snap OS, building on feedback and suggestions from its developer community: Deep Integrations with OpenAI and Gemini on Google Cloud: The company now enable developers to build multimodal AI-powered Lenses and publish them for the Spectacles community. For example, developers are using AI to provide text translation and currency conversion (Super Travel), suggest recipes (Cookmate), and bring on whimsical adventures (Wisp World) based on what see, say, or hear while wearing Spectacles. The company offer camera access designed with privacy in mind through proprietary Remote Service Gateway. Depth Module API: Translates 2D information from large language models in order to anchor AR information accurately in three dimensions, unlocking a new paradigm for spatial intelligence. Automated Speech Recognition API: Enables real-time transcription with support for 40+ languages including non-native accents with high accuracy. Snap3D API: lets developers generate 3D objects on the fly inside Lenses. Snap is also launching new tools specifically for developers building location-based experiences, making it easier to bring monuments, museums, and more to life: Fleet Management app: Enables developers to remotely monitor and manage multiple pairs of Specs. Guided Mode: Developers can configure Specs to launch directly into a single-player or multiplayer Lens quickly for a seamless visitor experience. Guided Navigation: This feature makes it easy to build AR-guided tours that direct people through a series of landmarks at events or museums. These tools support developers like Enklu, which operates holographic theater Verse Immersive in more than a dozen locations across the US. Now, Verse Immersive customers in Chicago can use Spectacles to play their new game SightCraft with friends, and it will roll out in more locations this year. And coming soon: Niantic Spatial VPS: company partnering with Niantic Spatial to bring their Visual Positioning System to Lens Studio and Specs to build a shared, AI-powered map of the world. WebXR Supportin the browser: Will enable developers to build, test, and access WebXR experiences. Recent Insider Transactions Derivative • Jun 04
General Counsel & Secretary notifies of intention to sell stock Michael O'Sullivan intends to sell 24k shares in the next 90 days after lodging an Intent To Sell Form on the 30th of May. If the sale is conducted around the recent share price of US$8.25, it would amount to US$198k. Since June 2024, Michael's direct individual holding has decreased from 611.19k shares to 545.79k. Company insiders have collectively sold US$14m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • May 20
Senior Vice President of Engineering recently sold US$1.0m worth of stock On the 16th of May, Eric Young sold around 118k shares on-market at roughly US$8.59 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$13m more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 16
Chief Financial Officer notifies of intention to sell stock Derek Andersen intends to sell 209k shares in the next 90 days after lodging an Intent To Sell Form on the 14th of May. If the sale is conducted around the recent share price of US$9.03, it would amount to US$1.9m. Since June 2024, Derek's direct individual holding has increased from 2.39m shares to 3.51m. Company insiders have collectively sold US$11m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • May 05
Co-Founder notifies of intention to sell stock Robert Murphy intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 1st of May. If the sale is conducted around the recent share price of US$7.97, it would amount to US$8.0m. Since September 2024, Robert's direct individual holding has decreased from 182.32m shares to 179.63m. Company insiders have collectively sold US$14m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Apr 30
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: US$0.082 loss per share (improved from US$0.18 loss in 1Q 2024). Revenue: US$1.36b (up 14% from 1Q 2024). Net loss: US$139.6m (loss narrowed 54% from 1Q 2024). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Breakeven Date Change • Apr 30
No longer forecast to breakeven The 40 analysts covering Snap no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$98.4m in 2027. New consensus forecast suggests the company will make a loss of US$56.7m in 2027. Price Target Changed • Apr 23
Price target decreased by 7.0% to US$11.46 Down from US$12.32, the current price target is an average from 36 analysts. New target price is 44% above last closing price of US$7.98. Stock is down 28% over the past year. The company is forecast to post a net loss per share of US$0.35 next year compared to a net loss per share of US$0.42 last year. Price Target Changed • Apr 17
Price target decreased by 7.2% to US$11.75 Down from US$12.65, the current price target is an average from 36 analysts. New target price is 49% above last closing price of US$7.88. Stock is down 32% over the past year. The company is forecast to post a net loss per share of US$0.34 next year compared to a net loss per share of US$0.42 last year. Price Target Changed • Apr 16
Price target decreased by 7.1% to US$11.80 Down from US$12.71, the current price target is an average from 36 analysts. New target price is 53% above last closing price of US$7.74. Stock is down 29% over the past year. The company is forecast to post a net loss per share of US$0.34 next year compared to a net loss per share of US$0.42 last year. Recent Insider Transactions Derivative • Mar 12
Co-Founder notifies of intention to sell stock Robert Murphy intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 11th of March. If the sale is conducted around the recent share price of US$8.98, it would amount to US$9.0m. Since June 2024, Robert's direct individual holding has decreased from 183.67m shares to 180.93m. Company insiders have collectively sold US$15m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Feb 23
Senior Vice President of Engineering recently sold US$1.1m worth of stock On the 18th of February, Eric Young sold around 102k shares on-market at roughly US$10.84 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$15m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Feb 19
Senior Vice President of Engineering notifies of intention to sell stock Eric Young intends to sell 102k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of February. If the sale is conducted around the recent share price of US$10.84, it would amount to US$1.1m. Since June 2024, Eric's direct individual holding has increased from 522.72k shares to 752.11k. Company insiders have collectively sold US$12m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Feb 07
Co-Founder notifies of intention to sell stock Evan Spiegel intends to sell 150k shares in the next 90 days after lodging an Intent To Sell Form on the 6th of February. If the sale is conducted around the recent share price of US$10.42, it would amount to US$1.6m. Almost all of their compensation in the past year has been non-cash. These sales could comprise a meaningful part of their income for the year. Since March 2024, Evan's direct individual holding has decreased from 169.06m shares to 168.76m. Company insiders have collectively sold US$14m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Feb 07
Snap Inc. Provides Earnings Guidance for the First Quarter of 2025 Snap Inc. provided earnings guidance for the first quarter of 2025. For the quarter, the company expects revenue to be $1,325 billion to $1,360 billion. Reported Earnings • Feb 05
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: US$0.42 loss per share (improved from US$0.82 loss in FY 2023). Revenue: US$5.36b (up 16% from FY 2023). Net loss: US$697.9m (loss narrowed 47% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.4%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Announcement • Jan 29
Baron & Budd Represents California Counties in Public Nuisance Lawsuits Against Social Media Companies Baron & Budd filed public nuisance lawsuits against social media companies Meta, Snap, Google, YouTube, and TikTok. The lawsuits, filed on behalf of the people of the state of California in San Diego, Sacramento, and Del Norte Counties, allege that the defendant social media companies have created a public nuisance and health crisis among minors who have developed compulsive and addictive behaviors due to social media algorithms and user interface design intended to create repetitive uses. According to the lawsuit, the social media companies strategically and intentionally implemented behavioral and neurobiological techniques responsible for addictive behavior in the development of their platforms knowing that children and adolescents are particularly vulnerable to the addictive effects. The extensive complaint cites scientific research, including studies concealed by the defendants, that connect the intentional design of the platforms to the growing youth mental health crisis that is gripping the nation. The complaint alleges resulting effects of the addictive designs of the social media platforms have created extraordinary profits for the companies, but also caused alarming increases in anxiety, depression, and suicide rates for youths. The counties filing the lawsuits assert that the defendants’ conduct has created a public nuisance among the counties’ youth that requires abatement including but not limited to, funding for programs, services, and educational outreach. The lawsuits seek to hold the social media companies accountable for their role in creating or contributing to a public nuisance and enjoin them to stop their harmful actions while also seeking injunctive relief and abatement to fund education and addiction treatment. The cases were filed by the law firms Baron & Budd, Diab Chambers, Wagstaff & Cartmell, Beasley Allen, and Goza & Honnold. Announcement • Jan 08
Snap Inc. Appoints Ankit Goyle as Head of India - Marketing Snap Inc. announced Apple's Ankit Goyle has joined the company as Head of India - Marketing. Prior to this, Ankit Goyle was with Apple as Head of Category Marketing & Demand Generation - iPhone and AirPods. He will be setting up the marketing function and contributing to Snapchat's mission of empowering self-expression and connection. Before joining Snap Inc, Ankit Goyle was with Apple for over 9 years. He last held the position of Head of Category Marketing & Demand Generation - iPhone and AirPods at the company. In his previous stints, Ankit Goyle has worked with Myntra, Aditya Birla Fashion and Retail Ltd, Reid & Taylor among others. Breakeven Date Change • Dec 31
Forecast to breakeven in 2027 The 39 analysts covering Snap expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$325.6m in 2027. Average annual earnings growth of 58% is required to achieve expected profit on schedule. Recent Insider Transactions • Dec 19
Chief Financial Officer recently sold US$1.1m worth of stock On the 16th of December, Derek Andersen sold around 94k shares on-market at roughly US$11.44 per share. This transaction amounted to 4.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.2m. Derek has been a net seller over the last 12 months, reducing personal holdings by US$4.5m. Recent Insider Transactions Derivative • Dec 17
Chief Financial Officer notifies of intention to sell stock Derek Andersen intends to sell 94k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of December. If the sale is conducted around the recent share price of US$11.44, it would amount to US$1.1m. Since December 2023, Derek's direct individual holding has increased from 643.86k shares to 2.29m. Company insiders have collectively sold US$12m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 24
Senior Vice President of Engineering recently sold US$1.2m worth of stock On the 18th of November, Eric Young sold around 112k shares on-market at roughly US$10.55 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$12m more than they bought in the last 12 months. 
