Snap Inc. experienced a 21% year-over-year revenue growth in Q1 2024. Daily active users reached 422 million, a 10% increase year-over-year. Adjusted EBITDA for Q1 stood at $46 million, a significant rise from $1 million in the previous year. The company repurchased 21 million shares for $235 million and ended the quarter with $2.9 billion in cash and marketable securities.
Q2 revenue is expected to grow by 15% to 18%, with DAUs estimated at 431 million. Full-year 2024 cost structure is projected to be $2.425 billion to $2.55 billion for adjusted operating expenses and $1.13 billion to $1.2 billion for stock-based compensation expense.
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