"Global monthly active users (MAUs) -- 619 million, up 12%, marking the tenth consecutive record quarter. MAUs by region -- 105 million in US and Canada, up 4%; 158 million in Europe, up 9%; 356 million in Rest of World, up 16%. Q4 revenue -- $1.3 billion, a 14% increase (13% on constant currency), with global ad impressions rising 41% and ad pricing declining 19% due to international mix shifts."
"Regional Q4 revenue -- US and Canada: $979 million, +9%; Europe: $245 million, +25% reported, +18% constant currency; Rest of World: $96 million, +64% reported and constant currency. Adjusted EBITDA -- $542 million in Q4, with a margin of 41%, up 20 basis points versus last year. Full year free cash flow -- $1.25 billion, up 33%, yielding 99% conversion from adjusted EBITDA ($1.27 billion)."
"Share repurchases -- $927 million in 2025, reducing fully diluted share count by approximately 1.6% year over year, below the previously stated 2%-3% annual dilution target. Q1 2026 revenue guidance -- Projected at $951 million to $971 million, representing 11%-14% growth, with a 3% foreign exchange tailwind assumed. Q1 2026 adjusted EBITDA guidance -- Forecast at $166 million to $186 million, with sequential low-single-digit percent growth in non-GAAP cost of revenue from Q4 2025."
Global monthly active users reached 619 million, up 12%, marking the tenth consecutive record quarter. MAUs by region were 105 million in US and Canada, 158 million in Europe, and 356 million in Rest of World. Q4 revenue totaled $1.3 billion, a 14% increase (13% on constant currency), with global ad impressions up 41% and ad pricing down 19% due to international mix shifts. Regional Q4 revenue was $979 million in US & Canada, $245 million in Europe, and $96 million in Rest of World. Adjusted EBITDA was $542 million (41% margin). Full-year free cash flow reached $1.25 billion with 99% conversion. Share repurchases totaled $927 million, reducing diluted share count by about 1.6%. Q1 2026 revenue guidance is $951–$971 million and 2026 adjusted EBITDA margin is expected near 30%, with AI core models driving engagement lifts and substantial model cost reductions.
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