Snap IncSNAP

Snap Inc Segments Disclosure

10-KFiled Feb 5, 20263 min read
Segments and Geographic Information
Our CEO is our CODM. Our CODM evaluates performance and makes operating decisions about allocating resources based on financial data presented on a consolidated basis, accompanied by information about revenue disaggregated by geographic region. Because our CODM evaluates financial performance on a consolidated basis, we have determined that we have a single operating segment composed of the consolidated financial results of Snap Inc.
The measure used by our CODM to assess performance and make operating decisions is net loss as reported on our consolidated statements of operations. Net loss is used by our CODM to identify underlying trends in the performance of our business and make comparisons with the financial performance of our competitors. Our CODM also reviews total assets, as reported on our consolidated balance sheets, and purchases of property and equipment, as reported on our consolidated statements of cash flows.
Our CODM also utilizes expense information in order to assess our financial performance. Infrastructure costs primarily consist of payments to third-party infrastructure partners for hosting our products, which include expenses related to storage, computing, and bandwidth. Content and developer partner costs primarily consist of fees paid to our content creators and publisher partners who share content on our platform through revenue sharing arrangements. Advertising partner and other costs primarily consist of payments to third-party partners for fulfillment services, transaction processing fees, and other expenses directly related to providing our services. Operating expenses include all remaining costs necessary to operate our business, which primarily include personnel expenses, facilities and related costs, promotional and marketing expenses, external professional services, and other administrative expenses. Operating expenses include charges recognized as research and development, selling and marketing, and general and administrative expenses within our consolidated statements of operations, but exclude stock-based compensation and related payroll and other tax expenses, depreciation and amortization, and restructuring charges, which are independently reviewed by our CODM.
The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM:
Year Ended December 31,
202520242023
(in thousands)
Revenue$5,931,447 $5,361,398 $4,606,115 
Less:
Infrastructure costs1,584,147 1,441,134 1,171,993 
Content and developer partner costs621,442 634,977 621,971 
Advertising partner and other costs450,508 384,804 297,262 
Operating expenses2,585,871 2,391,878 2,353,312 
Stock-based compensation and related payroll and other tax expense1,058,013 1,069,389 1,359,107 
Depreciation and amortization163,633 154,459 159,999 
Other segment items (1)
(71,678)(17,387)(35,044)
Net loss$(460,489)$(697,856)$(1,322,485)
(1)Other segment items primarily include interest income; interest expense; other income (expense), net; and income tax benefit (expense) as reported in our consolidated statements of operations. Other segment items also include restructuring charges of $72.1 million and $40.8 million for the years ended December 31, 2024 and 2023, respectively.
The following table represents our long-lived assets, which includes property and equipment, net and operating lease right-of-use assets, by geography:
As of December 31,
20252024
(in thousands)
United States$710,984 $682,173 
United Kingdom245,911 248,243 
Rest of world (1)
127,396 89,113 
Total long-lived assets, net$1,084,291 $1,019,529 
(1)No individual country other than the United States and the United Kingdom exceeded 10% of our total long-lived assets for any period presented.

Historical Timeline

Fiscal YearFiled
2025Feb 5, 2026Showing above
2024Feb 5, 2025

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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