Snap Inc Results Presentation Deck
Q3 Outlook
As we enter Q3, we anticipate continued robust growth in our global community and, as a result, our financial
guidance for Q3 is built on the assumption that DAU will reach 405 million to 406 million in Q3. From a revenue
perspective, our business remains in a period of rapid transition as we work to improve our advertising platform,
while forward visibility of advertising demand remains limited. Our guidance range for Q3 revenue reflects our
best estimate of these factors, with total revenue estimated to be between $1,070 to $1,130 million implying
negative 5% to flat year-over-year growth. At this level of revenue, we estimate that Adjusted EBITDA will be
between negative $50 million and negative $100 million reflecting estimated infrastructure costs per DAU of
$0.79 to $0.84 in Q3, as we continue to invest in ML, AI, and other infrastructure to improve the performance of
our ad platform, drive deeper content engagement, and bring innovative product experiences to our community.
This forecast also assumes modest sequential headcount growth as we continue to carefully calibrate our
operating investments to focus on the inputs most essential to the acceleration of topline growth.
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