ADDED
As of January 31, 2026, the Registrant had 1,434,801,757 shares of Class A common stock, 22,523,290 shares of Class B common stock, and 231,626,943 shares of Class C common stock outstanding.
In addition, our advertising business is seasonal, volatile, and cyclical, which could result in fluctuations in our quarterly revenues and operating results, including business prospect expectations.
In addition, macroeconomic factors like labor shortages and disruptions, supply chain disruptions, banking instability, tariffs and retaliatory countermeasures, inflation, and fluctuating interest and foreign currency exchange rates have in the past and may continue to cause logistical challenges, increased input costs, and inventory constraints for our advertisers, which in turn may also halt or decrease advertising spending, and harm our business.
While we believe that these decisions will benefit the aggregate user experience or improve our financial performance over the long term, these changes may cause friction by our users, advertisers, or partners, resulting in disruptions or declines in our key metrics, such as Daily Active Users, user activity, or financial performance.
For example, in the first quarter of 2025, we refined our processes and controls in recording user activity to allow us to more accurately count DAUs that would not otherwise be counted during such period due to delays in receiving user metric information resulting from carrier or other user connectivity issues during the measurement period.
While these refinements improve both our accuracy and precision in counting DAUs, they resulted in less than a 1% increase in our DAUs in the first quarter of 2025 and would have resulted in similarly immaterial changes in our DAUs for all periods in 2024, and which increase was primarily concentrated in Rest of World due to the greater prevalence of network connectivity delays in this region.
Any such adjustments would have a commensurate immaterial impact on our calculations of ARPU for such periods.
As a result of such adjustments, our DAUs, ARPU, or other metrics may not be directly comparable to those in prior periods.
In addition to our core Snapchat product, we offer Snapchat+, Lens+, and Snapchat Platinum, our subscription services that provide subscribers access to exclusive, experimental, and pre-release features.
Lens+ offers all the value of our Snapchat+ subscription in addition to access to hundreds of exclusive Lens and AR experiences, and Snapchat Platinum offers all the benefits of Snapchat+ and Lens+ in addition to an ad-free experience.
REMOVED
As of January 31, 2025, the Registrant had 1,442,210,767 shares of Class A common stock, 22,523,290 shares of Class B common stock, and 231,626,943 shares of Class C common stock outstanding.
In addition, our advertising business is seasonal, volatile, and cyclical, which could result in fluctuations in our quarterly revenues and operating results, including the expectations of our business prospects.
In addition, macroeconomic factors like labor shortages and disruptions, supply chain disruptions, banking instability, tariffs, and inflation have in the past and may continue to cause logistical challenges, increased input costs, and inventory constraints for our advertisers, which in turn may also halt or decrease advertising spending, and harm our business.
Many of our competitors have significantly more resources and larger market shares than we do, which gives them advantages over us that can make it more difficult for us to succeed.
As a result of such adjustments, our DAUs or other metrics may not be comparable to those in prior periods.
The Trending page allows Snapchatters to discover and engage with popular topics and genres.
We are currently testing a new and simplified version of Snapchat referred to as Simple Snapchat, which organizes the tabs into three core experiences focused on communicating with friends, using the camera, and watching entertaining content.
In addition to our core Snapchat product, we offer Snapchat+, our subscription service that provides subscribers access to exclusive, experimental, and pre-release features.
We also offer Snapchat for Web, a browser-based product that brings Snapchat s signature capabilities to the web.
Spectacles are our wearable AR glasses, which overlay computing over the world and extend the immersive AR Lenses experience beyond Snapchat.