![]() ![]() We launched ads in Spotlight for all advertisers globally, allowing brands to reach the Snapchat audience on our newest surface. We introduced new Snapchat+ features like app icons, custom themes, and Bitmoji pets & cars on the Snap Map. Snapchat+, our subscription service that offers exclusive, experimental, and pre-release features, reached over 4 million paying subscribers in Q2, one year after launch. We made fundamental improvements to our privacy-preserving identity graph and modeled conversions, which will strengthen the connection between identity, attribution, and optimization. We introduced our Event Quality Score system to advertisers to measure the quality and integrity of their data, which we expect will lead to improvement in attribution and advertiser performance. The combination of improvements to our machine learning (ML) infrastructure and systems for ad ranking and optimization have led to more relevant ads and a more than 30% increase in purchase related conversions quarter-over-quarter. We are seeing significant adoption of our new 7/0 Pixel Purchase optimization model, which contributed to a more than 40% quarter-over-quarter increase in 7/0 Pixel Purchase conversions. We are focused on accelerating and diversifying our revenue growth: We onboarded new media partners and renewed agreements globally as we continue to grow our local content offering, including ITV in the UK, ProSieben in Germany, Network 18 in India, and ESPN in the Netherlands. We expanded our Stories revenue share program to more creators, helping more people build businesses on Snapchat and enabling them to create content for our community. We introduced My AI Snaps for Snapchat+ subscribers, allowing subscribers to send Snaps to My AI and receive an AI-generated Snap back that keeps the conversation going. Since launching My AI, our AI-powered chatbot, over 150 million people have sent over 10 billion messages, which we believe makes My AI among the largest consumer chatbots available today. Total time spent watching Spotlight content more than tripled year-over-year, and Spotlight reached more than 400 million monthly active users on average in Q2, an increase of 51% year-over-year. We grew and deepened our engagement with our community:ĭAUs were 397 million in Q2 2023, an increase of 50 million, or 14% year-over-year.ĭAUs increased sequentially and year-over-year in each of North America, Europe, and Rest of World. See page 11 for reconciliation of diluted net loss per share to non-GAAP diluted net income (loss) per share. ![]() See page 10 for reconciliation of net cash provided by (used in) operating activities to Free Cash Flow. See page 10 for reconciliation of net loss to Adjusted EBITDA. Non-GAAP diluted net income (loss) per share (3) Net cash provided by (used in) operating activitiesĭiluted net loss per share attributable to common stockholders Operating cash flow was $(82) million, compared to $(124) million in the prior year.įree Cash Flow was $(119) million, compared to $(147) million in the prior year. Net loss was $377 million, compared to $422 million in the prior year.Īdjusted EBITDA was $(38) million, compared to $7 million in the prior year. Revenue was $1,068 million, compared to $1,111 million in the prior year. “We are excited by the progress we have made delivering increased return on investment for our advertising partners, growing our community to 397 million daily active users, and reaching more than 4 million Snapchat+ subscribers,” said Evan Spiegel, CEO. ![]() (NYSE: SNAP) today announced financial results for the quarter ended June 30, 2023. Trailing twelve months Free Cash Flow was $81 million Trailing twelve months operating cash flow was $250 million Second quarter revenue was $1,068 million Daily Active Users increased 14% year-over-year to 397 million ![]()
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