Filing Flows › Snap (SNAP) › Q3 2025
Snap (SNAP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Snap (SNAP) reported revenue of $1.5B for the third quarter 2025 (Q3 2025), +10% from a year earlier and +12% from the quarter before. Operating margin was -8.5%, net loss $104M (6.9% of revenue).
Snap, Q3 2025: revenue $1.5B (+10% year over year), operating margin -8.5%, net loss $104M, operating cash flow $146M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | +12% | +10% |
| Operating profit | −$128M | — | — |
| Net earnings | −$104M | — | — |
| Operating cash flow | $146M | +66% | +26% |
| Free cash flow | $93.4M | — | +30% |
What changed
Revenue was $1.5B in Q3 2025, up 10% year over year and up 12% from the previous quarter. Advertising revenue was the largest line at 87% of revenue. Advertising revenue added $0.07B year over year (up 5%), 50% of the total change.
Operating costs exceeded revenue by $0.13B, an operating margin of -8.5%. Total costs grew 6% against revenue growth of 10%. The fastest-growing cost line was General & admin (+14%). The quarter ended with a net loss of $0.10B, narrower than the previous quarter's $0.26B loss. Non-operating items added $0.03B, -25% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.15B (up 26% year over year). Non-cash charges added back $0.04B of depreciation and amortization and $0.26B of share-based compensation. Working capital and other items used $0.05B. After purchases of property and equipment ($0.05B), free cash flow as the company reports it was $0.09B.
Questions
What was Snap's revenue in the third quarter 2025?
Snap (SNAP) reported revenue of $1.5B for the third quarter 2025 (Q3 2025), +10% from a year earlier and +12% from the quarter before.
Was Snap profitable in the third quarter 2025?
Operating loss was $128M (-8.5% of revenue) and net loss $104M.
Source: Snap 10-Q on SEC EDGAR.