Snap Inc. Files 2024 10-K Report

TL;DR

Snap filed its 2024 10-K. Full financials and business overview for investors.

AI Summary

Snap Inc. filed its 2024 10-K report on February 5, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The company, headquartered in Santa Monica, CA, operates in the services sector, focusing on computer programming and data processing. This filing provides a comprehensive overview of Snap's business, financial condition, and results of operations for the past fiscal year.

Why It Matters

This 10-K filing is crucial for investors and analysts to understand Snap Inc.'s financial health, strategic direction, and potential risks for the fiscal year 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-K filings inherently carry medium risk due to the detailed financial and operational information that can reveal significant business challenges or opportunities.

Key Players & Entities

• Snap Inc. (company) — Filer of the 10-K report
• Santa Monica, CA (location) — Company headquarters
• 3000 31ST STREET (location) — Company business and mail address
• February 5, 2025 (date) — Filing date of the 10-K
• December 31, 2024 (date) — Fiscal year end

FAQ

Key Financial Figures

• $0.00001 — stered Class A Common Stock, par value $0.00001 per share SNAP New York Stock Exchange

Filing Documents

• snap-20241231.htm (10-K) — 2876KB
• snap-20241231xexx44descrip.htm (EX-4.4) — 46KB
• snap-20241231xexx10212025b.htm (EX-10.21) — 12KB
• snap-20241231xexx191inside.htm (EX-19.1) — 41KB
• snap-20241231xexx231eycons.htm (EX-23.1) — 3KB
• snap-20241231xexx311.htm (EX-31.1) — 10KB
• snap-20241231xexx312.htm (EX-31.2) — 10KB
• snap-20241231xex321.htm (EX-32.1) — 6KB
• image_1.jpg (GRAPHIC) — 34KB
• snap-20241231_g1.jpg (GRAPHIC) — 59KB
• snap-20241231_g2.jpg (GRAPHIC) — 73KB
• snap-20241231_g3.jpg (GRAPHIC) — 40KB
• snap-20241231_g4.jpg (GRAPHIC) — 33KB
• snap-20241231_g5.jpg (GRAPHIC) — 42KB
• snap-20241231_g6.jpg (GRAPHIC) — 71KB
• snap-20241231_g7.jpg (GRAPHIC) — 41KB
• snap-20241231_g8.jpg (GRAPHIC) — 25KB
• snap-20241231_g9.jpg (GRAPHIC) — 35KB
• 0001564408-25-000019.txt ( ) — 13487KB
• snap-20241231.xsd (EX-101.SCH) — 73KB
• snap-20241231_cal.xml (EX-101.CAL) — 119KB
• snap-20241231_def.xml (EX-101.DEF) — 402KB
• snap-20241231_lab.xml (EX-101.LAB) — 941KB
• snap-20241231_pre.xml (EX-101.PRE) — 672KB
• snap-20241231_htm.xml (XML) — 1730KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 52 Item 1C. Cybersecurity 52 Item 2.

Properties

Properties 53 Item 3.

Legal Proceedings

Legal Proceedings 53 Item 4. Mine Safety Disclosures 54 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 55 Item 6. Reserved 56 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 57 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 75 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 77 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 116 Item 9A.

Controls and Procedures

Controls and Procedures 116 Item 9B. Other Information 117 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 117 PART III Item 10. Directors, Executive Officers and Corporate Governance 118 Item 11.

Executive Compensation

Executive Compensation 124 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 140 Item 13. Certain Relationships and Related Transactions, and Director Independence 143 Item 14. Principal Accountant Fees and Services 146 PART IV Item 15. Exhibit and Financial Statement Schedules 147 Item 16. Form 10-K Summary 150

Signatures

Signatures 151 ii Table of Contents NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this report, including statements regarding guidance, our future results of operations or financial condition, our future stock repurchase programs or stock dividends, business strategy and plans, user growth and engagement, product initiatives, objectives of management for future operations, and advertiser and partner offerings, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "going to," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," or "would" or the negative of these words or other similar terms or expressions. We caution you that the foregoing may not include all of the forward-looking statements made in this report. You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Annual Report on Form 10-K primarily on our current expectations and projections about future events and trends, including our financial outlook, macroeconomic uncertainty, and geo-political events and conflicts, that we believe may continue to affect our business, financial condition, results of operations, and prospects. These forward-looking statements are subject to risks, uncertainties, and other factors described under "Risk Factor Summary" below, "Risk Factors" in Part I, Item 1A, and elsewhere in this Annual Report on F

Business

Item 1. Business. Overview Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. Our flagship product, Snapchat, is a visual messaging application that enhances your relationships with friends, family, and the world. Visual messaging is a fast, fun way to communicate with friends and family using augmented reality, video, voice, messaging, and creative tools. Snaps are deleted by default to mimic real-life conversations, so there is less pressure to look popular or perfect when creating and sending images on Snapchat. By reducing the friction typically associated with creating and sharing content, Snapchat has become one of the most used cameras in the world. The camera is a powerful tool for communication and the entry point for augmented reality experiences. By opening directly to the camera, Snapchat empowers our community to express themselves instantly and offers millions of augmented reality Lenses for self expression, learning, and play. In the way that the flashing cursor became the starting point for most products on desktop computers, we believe the camera screen will be the starting point for most products on smartphones. This is because images created by smartphone cameras contain more context and richer information than other forms of input like text entered on a keyboard. Given the magnitude of this opportunity, we are investing and innovating to continue to deliver products and services that are differentiated and that are better able to reflect and improve our life experiences. Snapchat Snapchat is our core mobile device application and contains five distinct tabs, complemented by additional tools that function outside of the application. With a breadth of visual messaging and content experiences available within the appl

View Full Filing

View this 10-K filing on SEC EDGAR