Overview

• CEO Evan Spiegel outlined five to seven independent squads of 10–15 employees with weekly demo days and 90‑day mission cycles to accelerate product-market fit.
• Q2 results showed advertising revenue up 4% year over year and North American daily active users down 2% to 98 million.
• Snap reported a $263 million net loss in Q2, with operating cash flow improving to $88 million from a year-ago loss.
• Snapchat+ has surpassed 15 million subscribers, generating more than $700 million in annual recurring revenue and serving as a key growth driver.
• Product and commercial priorities include renewed investment in Specs AR glasses—which Spiegel envisions as a long-term computing platform—and a deeper push into medium-sized advertisers with penetration below 0.5% and roughly $6 million in annualized revenue per new U.S. activation.